Bitcoin Forum

putting your money into a fiat account yields 1.5% p.a.

we just made 3.5% in 60 minutes.

compare two y e a r s to less than an hour. wrap your head around this.

not the same league at all. not even comparable with your local soccer team playing vs premier league team.

the fiat team is blindfolded and legs were amputated. and has no goalkeeper. something like that.

hasta la victoria siempre.


edit: typo

Lol you do also realise the risk differences right? That's how banks will come up with your interest rate. Also, comparing a bank account to Bitcoins already doesn't make sense because dollars are losing value constantly, so 1.5% most likely won't keep up with inflation most years.

Bitcoins are more of a 'stock' right now in terms of the pricing. It's not unheard of a stock to jump 3% in an hour. It is bic to see that my coins are worth more again today  :P

so you lol at me , question if i know the difference between the risk involved in investing in bitcoin vs investing in fiat, and then you go on and say my post does not make sense? have i shagged your wife without your consent, sir?

edit:
hint: i didn´t. i compared yields with yields, and i wanted to express my happiness about it.

it does not always work like that as we all know. in bank your money can not decrease while with bitcoin you take the risk that the price may go up or down

as we all know? what? when inflation is higher than interest yields your fiats value will decrease.

i never said bitcoin has no risk. on a list of 1-10 (1 being very low risk and 10 very high risk) i would give bitcoin a solid 12.

i actually believe that there is more risk in letting your money sitting in a bank than bitcoin, in the long term scenario

so right now bitcoin it's a much better store of value


that's not how it work, bitcoin is actually always going up on average, since it was created, you don't look at the swings, to determine it, you look at the absolute average since the beginning

OMG.  Yes but this could have easily gone the other way.   People who've been holding bitcoin got lucky.

well, there went my point.  :-\

bitcoin is a beast.

You just have to buy more then!!! Infinite growth ;)

Jk but OP is correct - just dont overinvest so that you dont have pressure to sell if you are in the red.

If you could hold through the last 2 years then now is your time to shine :)

Right, I know you're saying that whilst smirking but that's exactly what people say in bull markets when they're intoxicated on upward momentum.  And it doesn't matter what the asset is, the euphoria is the same.  Be very careful.

You're 100% right in this post. Fiat savings % rates here in the UK are embarrassingly low. There's no point keeping gour savings in UK banks, inflation is higher than savings rates, your money decreases in value being in the bank.

Bitcoin rules.

wait....what?  ;)

we should be friends.

Although I agree that a cryptocurrency (and for the moment, the diva is clearly BTC) is actually a very good investment, the problem is that you must be very lucky to get that amount - and if you're unlucky, you get 5% less as already was said ...

A price volatility in this dimensions is not a good thing for an asset that wants to be a "currency". It simply does not provide the "unit of account" function that money must provide to be really useful. Bitcoin must improve and find ways to mitigate this volatility.

I don't believe in magic solutions like "volatility will go down automatically when more people invest in Bitcoin". That would only be true if they invest in it to use it actually as a currency, or to hold it independently of the price. But most users are still pro-cyclic speculators and follow its boom-bust cycles.

Here people even get less than 1% interest on their savings per year! This year alone I made around 120% profit while trading, and I haven't even mentioned the price that went up like crazy adding another 80-90% on top of that.

You didn't. Bitcoins yield = 0.

i did.

the dictionary i use lists:

"yields(pl.) = die Gewinne"

as first suggested translation in a very long list.

http://dict.leo.org/ende/index_en.html#/search=yields&searchLoc=0&resultOrder=basic&multiwordShowSingle=on&pos=0 (http://dict.leo.org/ende/index_en.html#/search=yields&searchLoc=0&resultOrder=basic&multiwordShowSingle=on&pos=0)

if you want to know what the german word "Gewinne" means, you could look it up here:

https://translate.google.com/#en/de/yields (https://translate.google.com/#en/de/yields)

u sayin' them wrong?

http://www.investopedia.com/terms/y/yield.asp (http://www.investopedia.com/terms/y/yield.asp)

Gewinne ist eine schlechte Übersetzung.

you really want to argue with a non-native english speaker about tiny definition differences of the usage of the word "yields"? ok. how generous of you. since the language we are talking about here is english i guess it is appropriate to use a dictionary that is beyond every doubt the reference.

http://www.oxforddictionaries.com/definition/english/yield?q=yields (http://www.oxforddictionaries.com/definition/english/yield?q=yields)




let´s use another translating site:

http://www.wordreference.com/ende/yields (http://www.wordreference.com/ende/yields)


what is your point? how many references you need? i rely on references like the oxford dictionary since english is not my native language. can you provide a better method for me? that would be awesome. thank you.

Definitely. Fiat is shit and it will become shittier with the years to come. The whole system is going to collapse in a few years, actually. The whole thing is not sustainable. The government is always lowering interest rates because threats of deflation.

Bitcoin FTW.

But people who've been taking profits may seems lucky when considering the scenario of late 2013. When they were in dream like price will be touch the Moon. Also don't think everyone will be the winner. If someone will be winner beside must someone will be loser.

btc holder gained 70% from $430 in few weeks, you can not do that with bank

Mhmmm. But every situation has two sides, you are seeing the bullish side, just think what would have happened markets would have gone the wrong way?
Profits are not guaranteed always, they were just lucky this time as many got a chance to get out of bitcoins at rates they bought them at. I am talking about those who got trapped in the 1000 Dollar Pump.

those shouldn't worry.
i had sunk several thousand u.s. dollars for a few years when i bought on the very top of a multiyear high. i got so depressed about it that i threw my exchange account info & password in the dustbin (and no copy, and no memory) with 100 btc sitting on that account. two and a half years later the exchange was nice enough to restore my account upon request. 100 btc are worth $76k today.

i am serious: those shouldn't worry & sit it out.

Piss argument.

A miner stock that my brother is invested in has climbed more than 300% this year.

Loads of other stocks have outpeformed Bitcoin this year also, and it has been a shite year for stocks.

i don´t know if you noticed it, but i wasn´t saying that bitcoin outperformed any other fucking stock this year, but that it did something in 60 minutes, that an average fiat deposit on a bank account needs years for.

free advice: maybe you should look deeper into what your brother is doing, since he seems to get somewhere with his investment strategy.   :D

i roll one up now and honestly wish we could share it.