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Title: How much is BFL making in interest ? Post by: Monster Tent on March 05, 2013, 08:06:53 AM If you take BFL at their word and they are not touching customers orders the money could be sitting in a bank or forex account somewhere...
If they have taken millions of dollars worth of preorders thats a lot of interest they are earning off their customers. Title: Re: How much is BFL making in interest ? Post by: Phinnaeus Gage on March 05, 2013, 03:02:16 PM If you take BFL at their word and they are not touching customers orders the money could be sitting in a bank or forex account somewhere... If they have taken millions of dollars worth of preorders thats a lot of interest they are earning off their customers. Correct me if I'm wrong, but I don't believe it can sit in a Forex account of any nature. Title: Re: How much is BFL making in interest ? Post by: Blazr on March 05, 2013, 03:04:42 PM Interest rates are extremely low right now, most banks barely offer 1% PA on fixed-term deposits.
Title: Re: How much is BFL making in interest ? Post by: Phinnaeus Gage on March 05, 2013, 03:20:06 PM Interest rates are extremely low right now, most banks barely offer 1% PA on fixed-term deposits. To put in perspective, and with the best case scenario, the interest that BFL would collect from a bank just about pays a descent salary for only one of their employees. The smartest move would have been to convert the funds back to Bitcoin after BitPay converted the funds to dollars which were deposited into there bank. If this were the case, there would be no way for them to lose money or face if a meltdown occurred. In the case of a meltdown, they could easily show that all the funds are sitting in a Bitcoin wallet(s) readied to be returned like a swarm of locust. Even if the exchange rate falls drastically, it's a face saver, albeit investors (for lack of better word) would receive less dollar value back, they would see integrity, of sorts, knowing that BFL tried. (pardon me if I got my tenses mixed up in the above, but hope you got the gist) Title: Re: How much is BFL making in interest ? Post by: vite on March 07, 2013, 04:16:01 PM In Panama you can get a %7 interest rate on a CD
Avarage about a %3 rate on a savings account with no restrictions and about a %5 yield on 1 year cd's Title: Re: How much is BFL making in interest ? Post by: Phinnaeus Gage on March 07, 2013, 04:29:36 PM In Panama you can get a %7 interest rate on a CD Avarage about a %3 rate on a savings account with no restrictions and about a %5 yield on 1 year cd's Interesting theory! If memory serves me, Panama neighbors Costa Rica? |