Bitcoin Forum

I introduced a friend to bitcoin in 2016 and he bought 20 bitcoins at $455 somewhere in January 2016. He now sold all of them at $1005 per bitcoin. After bank fees and trading fees, he made a profit of about $10 000 in a year.

The best interest rate he could get back in January was about 10% per year. So his profit from bank interest would have been +/- $910 for 2016.

Even after Tax has been deducted for Capital Gains, he will still Net a profit of about $7000 for the year. He is a very happy chap now, and I got a expensive lunch out of this deal. ^smile^

#Disclaimer : These are calculations done by him, so I do not know how accurate they are. Just thought I would share it with you.

Would you risk about $10 000 now, to possibly copy his success? Those were very uncertain times, when he had to make that decision back then.

What bank offers 10% interest? Please, I need to know this.

He could make more profit if he hold the coins for a few month more...

lol, yes

that is right. I will buy and hold as the price will rise again.

From what I observed from your friend's analysis he bought 20 bitcoins at $455 each that was 20*455=$9,100 , but from today's prices, 1 bitcoin=$1061 and so 20 Bitcoins today will be 20*1061=$21,220. Comparing the two circumstances (January 2016 and now) I don't think it'll be a wise decision to invest $21000 and hope to double it January 2018 because of the current pump. Take a lesson from your friend I guess if he still believed he could make a 100% profit next yer he would have sold his bitcoins to make profit.

Bitcoin profits are much more than Bank profits. (about 30%-60% in my country).
I can not believe that bitcoin has hit over 1,000$ within 1 month. it's amazing, guys.
This is my most memorable month in the year of 2017.

That man will be in pain a few months from now.

He may be smiling now but just wait.

Well I guess he can be happy at this time. It is huge gain, more that traditional banking, stocks or obligations could bring you.
But in the end he made a big mistake when he thought that $1005 price per BTC is anything close to final value of bitcoin.
If you don't need FIAT for your life expenses - you shouldn't sell your BTC. Ever.

Ofcourse, bitcoin profits is much more than Bank profits, Guy.
If you buy 1 bitcoin at 800$ or 850$ in the first days of December, 2016 you can get a big profit (more 20%) within month.
the bank profit is about 4%-5%/ year maximum (it means 0.3%-0.41% per month). Bitcoin profit is more than 60 times bank profit.

where do you guys get those bank interests of over 3%?? :D

my bank has like 0.5% right now ...

His friend is probably not in the US. For example you can easitly find 8% deposit interest rates in crap currencies such as the IDR.

Bank interest in europa country, US and japan
majority under 1%/year is very low and not competitif if your use bank interest to investment
bank only use in saving and transaction

Correct, and this is on a fixed deposit over 12 months. He cannot touch that money during that 12 month period. You do not have that contractual obligations with Bitcoin, because you can withdraw it, whenever you want and still get that kind of profits without penalties.

His motivation for selling : He considers $1000+ as the top end of the upward movement in the price. We might differ from his perspective, but he might just be correct for now. He also wants to play it safe. < Take some profit now, and re-invest when the price goes down > ^smile^

Why would he. The price is rising too fast, the bubble may burst anytime and he will have opportunity to buy another set of bitcoins. Bag the 10K profit and re-invest. I think that is a smart move.

Here's a thought, this rally just started and the "crash" will settle over the old ATH.

Exactly, If he cashed out some coins now, he would be able to show some good profits. If it crashed and it stays at these low levels, he might have to wait for 2 to 3 years to see a profit on his investment. The longer he waits to cash out, the lower his profit percentage in the end.

We do not know what the future will hold, so we can just go with what is happening now. He kept some bitcoins to capitalize on a Moon price. ^smile^

+1

We all know how this goes. Once the ATH is broken it's time for the next order of magnitude for the next ATH. It has always been like that.

edit:
It is smart to cash out when ahead and in debt to banksters. So pay back the debt in full but keep at least some of the earned profits in bitcoin because the party is just getting started. We're not even in the mainstream news yet!

A new ATH could be in the next 2 months.

a bank in a country that has an inflation rate of higher than 20%
i am guessing OP is from India, but i may be wrong.

where i live (a third world country) you can get 18% interest rate since the inflation rate doesn't fit in this comment :)
There are also some special offers for higher amount of money with rates as big as 25% annually.

bitcoin profits are obviously a much higher +EV bitcoin is going to the fucking moon soon if you have anything not in bitcoins right now you are just leaving money on the table

Perhaps your friend only had a lucky break, because there is no guarantee that every year the bitcoin price will increase 100%. Other times the price has dropped or only increased a bit. I personally would not invest so much at this current price, because in my view the higher the price, the greater the risk.

He's cashed out way too early, even if you're at a point when you're delighted with your profits you should never sell 100% of your bitcoin's.

Who knows what price we will see in a few years.

In profit.. Yes
In risk.. Yes

Just look what will happen if the ETF will not go through. I think a major correction will be in place. I read an article on coindesk stating that the price we see now is with the ETF calculcated. Which means No ETF, no profit.

There will not be big correction as most people do not think it will pass.

Look at the date when the posts were written. He was talking about the original ETF decision in March and he was pretty much correct, like you are correct now.
I also wouldn't expect a big dump, especially following a pretty big correction we had the last few days.

In my country you could get maximum 23% interest annually and receive monthly if you don't touch the money for 5 long years. for 3 years is 21% and for 1 year is 19%. deposit your money and receive 12.5% after 6 months.

Now with bitcoin there is the potential to earn 40% profit in 1 month.

Please note that I said "potential".

He's happy with $7000 or $10,000 profit in a year?

I know many people still not satisfied with $15,000 in a week.

I guess everyone has different expectations from life, but we all have the tolerance to live with the minimums but are we?

if i had it then 100% yep. ->omfg price just dropped WTF?!?!?!?! sell all your coins before it goes even lower!!!! Q.Q<- <- this is what some people will do... as for me ill just sit on that $10,o0o.0o until prices gets back up again which i wholeheartedly believe it will then ill sick on that $10,000 / btc until its not $10,000 anymore but $65/$85,0o0.o0... then ill withdraw as needed for purchases and try to keep from creating a dump xD. reacting to quickly to any situation is never a good thing. just like the opposite( reacting to slowly to any situation is never a good thing) always use the best balance of your available options as your course of action.

Definitely,after seeing your friend's profit,no one would disagree to follow his steps.$10000 in a year.That sounds great.

your friend is going to regret for the rest of his life that he cashed out

Well if the goal is profits entirely then he did profit a lot so it wouldn't matter anymore.

If the concern here is for safety purposes? Banks still the best. But in terms of fast profit or income increase? Bitcoin still the best to choose.  :) Bitcoin? It's world wide currency. The price is not that stable. The possibility is 50/50! Everytime the price increase and decrease but it's okay. It's a part of it. Sometimes, taking risk is good.

if you are talking about the value then you are right since fiat doesn't lose value under normal circumstances.
but if you mean "safety or security" then you are wrong, nothing is safer than bitcoin at this moment. a cold storage is literary impenetrable.

because it is still in the early stages and it is still being adopted and there are a lot more people left who need to adopt it ;)

it disagree, it is nowhere near 50/50. the chances of price rise is a lot higher than drop. in long term i  say it is even close to 99% chance of rising and short term obviously it changes for example right now there is a bigger chance of dipping for a correction in price than there is for rising.

As much as Bitcoin is great in earning you huge percentage of profit it has a down side as well which could lead to you becoming bankrupt.
When banks go bankrupt they tend to go asking from their central banks and they will give them enough money to get back on without considering the cause.
When people take money and don't return it and keep spending, someone has to pay which is a central bank which in turn is causing inflation and the end users-people will be the ones suffering.

If you ever noticed that Bitcoin has something similar to a central bank but it's backed by people themselves with free market investment, meaning when people invest and support Bitcoin they have already earned their money by working and by doing something unlike central banks just print the money.

Bitcoin can not exist if there are no miners and miners can not exist if there are no Bitcoins, but can money exist without central banks? yes it can and we're here as the community acting as the central bank.

Next time you want to compare these two systems think about the universal gap between them.
Imagine there were only 21M dollars in the world, $1 would've worth 100KG of gold?
Or imagine a decentralized USD. :)

Bitcoin profit is better than bank interest. However bitcoin is not stable and quite risky.
anyway, I still love bitcoin and I spend much money for trading bitcoin .

With respect to my country's interest paying rate, I need to wait for ~10 years to double my saving whereas bitcoin has doubled my investments in less than 5 months. Hence there will be no meaning at all to consider about bank interests for my saving by any means.

My friends do talk about diversification like investing some lower percentage in banks. But I refused as I prefer and believe only bitcoin for my saving. 

Wait, your country has bank interest rates that are close to 7%? I would have to imagine that your country also has a very high inflation rate then too, otherwise your country is literally beating every other first-world country when ti comes to investment potential. Here I get maybe 1% annually, which is basically garbage-tier. Now it's only worth my time investing in other mediums since I just lose money otherwise.

Wow, I'm impressed by your friend > $455 * BTC20 = $9,100 invested, wait for a year and he got $20,100 return for BTC20.
He has big funds obviously and get bigger profits, if I have $10,000 now, I will purchase bitcoin and wait for uncertain time when I desperately need for money and than sell it, I guess min 1 year as well to extract more money from bitcoin savings.
But, I won't sell all of it instantly, better to divide and sell partly depend on my needs.

Bank interest rates are a complete joke these days, it's better to be all in on bitcoin rather than earn 1% a year in a bank savings account. They are embarrassing.

my bank advertises 0.1% for up to € 2500,00 and a whopping 0.2% for a € 5000,00 deposit.

and that is p.a.

and they are not even ashamed of advertising it is a good deal.

i seriously think bitcoin price can do this in one minute or less. compare that to an entire year....

0.1% p.a. is a joke. bad one.

Why are we comparing Bitcoin and bank interest?  It is clear that banks are robbing us of our true profit.  We may win or lose in bitcoin but at least if we profit from bitcoin we get that 100% and not that 1% only from bank.  This comparison is a no brainer. Definitely Bitcoin will have a bigger profit.

Yes, there is no meaning of comparing these two. Maybe got this idea from moving funds from bank for the purpose on investing into bitcoins. But as per current trend, not just bank interest rates any solid business also may not neat the percentage of returns bitcoin may provide to its investors.

Lots of carry trade to be found in crypto currency

Almost all banks I see offer less than 1percent.  What bank offers 10percent? So you are aware, most 401k plans give you a range of 5percent to 15 percent a year.

A bank giving 10percent is really good and safer than a 401k. To get higher in a 401k you need to have riskier stocks.

Anyways, btc is still a good thing to keep buying. Day trading can make you more too.

Bank interest is designed to make you poor. It doesn't make you poor instantly (sometimes it does if a bank goes bankrupt) but slowly. You should never ever count on bank interest. You can't make any money by counting on interest rates. It is for dumb people.

Actually you shouldn't even keep all of your money in banks, far too dangerous. I am not saying that you should withdraw everything and bury them, but at least keep some of your wealth somewhere away from banks' reach.

What you need to do is chasing opportunities like bitcoin. You shouldn't aim to collect only bitcoin. It can be stocks, it can be gold, it can be some cheap real estate... You need to look for value wherever it can be found, and you should never ever go all in with one investment.

If would have become at least x10 richer than what i am now if i purchased bitcoins with all of my money but the opposite could have happened either. Risk management reduces your possible winnings but it also reduces your potential losses. Staying alive is the most important thing in the long run.

This can't be avoided.  Government and banks joined force to brainwash people from their young age that their best friend in finance are banks.


I agree, keeping our money in banks are too dangerous, they have all the power to access it, freeze it or even steal it in a broad day light.


Bitcoin is way better than banks because we hold it ourself, it is a good store of value and very secured network.

I keep some of my money in big banks. They are better than some bitcoin exchanges.

Can you really get 10% per annum on a USD balance anywhere?  Maybe on a local currency account -where you get a high rate in local because the market prices in depreciation of the local currency against the USD - ie the forward FX rate is lower than the current.
Arbitrage says USD 1000 at USD rates invested for one year = the same amount in USD terms as Local Ccy equivalent invested at local Ccy rates for 1yr X 1yr Forward FX

Small banks, big banks, they are birds of the same feather, Shylock was their progenitor. For your deposits, they offer you pea nuts and if you turn around to seek for any loan from them, that is when you would understand what interest your deposit was really worth. They (the governments) got it all figured out to whip people into line through their agent - the banks and it is no wonder Bitcoin is more or less their nightmare.
 
By the way, exchanges are places to exchange your money and never where they should be stored.

I only use bank to receive the proceeds from trading profit of bitcoin that i exchange through the exchanger, immediately withdraw all using atm. I never borrow or saving to bank. Bank interest is very small if i only keep less than $1K and monthly administration fee is bigger. Well, at trading i can get more profit.

Same here, it will the be easiest way to get my hands on what I've earned (Bitcoin).

That's when people get judgmental and smooch around stuffs about people who has a big house, a car, a backyard pool, 'nice job' etc. but they do not know that it was all because of loaning in banks that makes these 'assets' that says "Hey I have this fanciful life because of my job and my bank!". But the truth is, it (loan) became their lifetime payment sentence.

As he bought Bitcoin when its price was really low. he can easily earn profits but for now, Bitcoin price is really high, we can not earn profits as easy as himself anymore.

I agree, the current price is far from making profits. Although it dropped at a lump some amount it will still be considered high, compared to last year's price.

You should not compare the bank's benefits with the bitcoin profits, because they differ widely. The bank defaults to a very low profit margin every year, while bitcoin continues to grow, and profits from it increase dramatically....

Banks make money by using your deposits from your account to lend or invest in other assets. The more you have in there, the more of it they leverage. This is outright criminal. Not to mention the risk of bank interest rates going negative in the future or a bank bail-in.

Even though Bitcoin is risky, I have no doubt that if I keep the majority of my wealth in bitcoin that the average interest (appreciation) of the asset averaged over a decade or more will spank any interest returns that any bank account could give.

Surely your friend is a lucky person. He buys bitcoin at the right price and sells it at the right time. If you look at the total profit gained then use bitcoin much better. Bitcoin prices can increase significantly. While the interest of the bank will not produce a large amount. So I'll better choose the bitcoin as the best at the moment.

But you need know when invest to buying Bitcoin very risky at now, example: If 1st August SegWit2x failure, will Bitcoin still keep the price is > $2000 and stable with this price? I can sure 100% can't do that and panic seller with happening.

With saving in bank, although not earning more extra profit but the bank can helps you keep safe your funds and small risk, remeber that!

I don't know how much is 0.1% but in my country which is going bankrupt day by day , if you deposit 10.000 Euros they give you 0.5 Euro annual interest. Now can any other bank beat this (see the irony ) ? Ah old good days of Italian Lira, we were all having a good life at those times here in Italy, Euro destroyed everything and I mean everything for real.

You assume that in this way destroy all Bitcoin? It seems to me that Bitcoin in general may exist in parallel with all currencies of the world. I do not think that the banking system will go on destroying its own assets in real money.

It seems too much to compare bank interest with bitcoin profit, in my country bank interest about 12% a year, bitcoin price last year about $ 600 and proven bitcoin profitable up to about 400%. Are you still doubt?

Why not i would anyday prefer to invest in bitcoin than in bank and one of the many reason is return is anyday more than 10% from what currently bank provides and second i can sell bitcoin whenever i want but for a fd it takes time to cancel and also takes my profit

You didn't understand at all. It was an irony from my side to show how pathetic the banks have become this day. Bitcoin is great and the banks cannot do anything to stop it from its brilliant future which bitcoin has ahead. Paying 0.5 Euro for 10.000 Euro deposit during a year is truly pathetic and if you had bought 10.000 Euros of bitcoin in 2016 now you would have made a lot more than 0.5 Euro from your investment. That shows that bitcoin is much better compared to bank interest.

Bank interest is very pathetic. Losses from inflation are always greater than those percentages that will give us a bow from the deposit. As soon as I learned about bitcoin, I withdrew all my money from the bank accounts and bought bitcoins. Many of my friends then said that I am insane. But now they call me "wise investor" ;D

That's the truth that all bitcoin users see, however, look at the security of each side, when we talk about bitcoin, it's still a virtual currency and it always has the risk. Ro in business; conversely, when talking about banks, we see a reputation and security that is guaranteed by governments.

Money is definitely safe in banks as banks assure you the safety of your funds and if anything goes wrong that banks will help you in recovering your money but the fact is the interest paid by banks is in peanuts and you can definitely earn higher amount of profits if you have put your money in bitcoins.

Definitely,no person who knows the price history of bitcoin would think to lose such an earning opportunity.I have been following bitcoin for the past two years and so i know very well the potential of bitcoins and so i would definitely invest in bitcoins.

Well that's probably why Bitcoin is 'decentralized', although you cannot know when will be the good time to invest, it will still make a lot of profit than those in banks that makes a lot more than the time we need to gain profits than that of Bitcoin's.

Bitcoin all the way, no bank is going to give you the profits that bitcoin has, and that is bitcoin, if you decide instead to invest in alts then the earnings can be even larger if you time the market right, so to me this is a no brainier invest in bitcoin and forget about the banks.

Not totally right currently all altcoin holders will be in negative and it can take few months for altcoins to rise but for bitcoin it will rise after august 1 or it will rise faster than altcoins. Altcoins are good for short term as they can crash easily when compared with bitcoin

Banks give only very small percentage as interest which is very small compared to bitcoin returns.Investment made in bitcoin is safe and at the same time,it gives huge returns which no other asset could give.Bitcoin price has increased almost four times of its price in just eight months and ban returns are nothing worth when compared to bitcoin returns.

Wow, your predict is one month ago, but in current the situation on market as your predict 100%, not wrong. I wish can read your predict early than before take big loss in last month.

Well. Very encouraging story. If $10,000 is my only money, i wouldn't take the risk in puting it all in Bitcoin and then starve to death when the value of Bitcoins does not go as i expected it to be. As it is always said and a fact that Bitcoin's value is unpredictable. It can soar on so high as everybody expects and anticipate it including me 😊, but it can also drop so low. So maybe haf or part of my $10,000 will i invest in buying bitcoin.

Bitcoin profit was depend on fluctuation of bitcoin price in the market, while bank interest was depend on the amount you deposit in the bank. If we compare both of this we can see the big difference, because bitcoin was fluctuate daily and the bank interest was steady and fixed rate every months, quarterly or yearly depends on the terms of bank.

I don't know which bank offers 10% interest rate. But anyway, if your friend sold only half of his btc and waited for another year or maybe until this month of August, he'll be 3x richer. And most probably you'll not just get an expensive lunch from him, maybe dinner too! :D

If I have a lot of money that $10,000 is not a loss, why not? I'll be buying me 5btc right away then forget about it in 5 years. But sadly I don't have that amount of cash in me right now.

If your friend wouldn't have sold them all at that time, he would have 3 times more than what he got from it in 2016, but who knows the future anyway?
I would probably have invested any money if i had in bitcoin because i know it has got the potential to generate good enough profit for me in a year or so, but unfortunately, i don't have any funds to invest right now.

Bitcoin is truly the advantage on it over bank interest and still mamy people who doesn't believe on it. We can't blame them because bitcoins is not well known as the others based on it when others became rich then the late comers regret to invest in bitcoins .

Don't get all out of Bitcoin at once, you probably will regret it very soon.

Bitcoin is a lifelong wealthy plan, you don't go all sell all you gold laying chickens at once and look for better opportunities because you won't find any

When I entered Bitcoin my thought was "I'll earn some money to convert to cash as soon as possible". Now that I am into it I think that probably the best time to use them would be when they'll be directly accepted in all major commerces.

That is, I do not think that it is possible that bitcoin would reach, say 20,000 $ a piece and yet not widely accepted. Yeah, it is like gold in a sense, but can be transferred very fast and innovations are making it faster. It is not likely to be only a store of value in the end.

And yes, it yields a much higher interest than banks.

Really depends on my financial situation, I did invest a huge amount back when the price dropped to 2K recently. I invested around 8K worth of my money, buying a total of 4 Bitcoins. With all of that I have already sold off all of it when the price was 3.2K and I am pretty happy with my 5K profit.

I don't think I will be making such a move like that for a long time, unless if the price dropped pretty hard and I was feeling like investing. I am happy with my profits and it is better to stop while you are ahead.

Made like 5K profit from buying when it was 2K and selling when it was 3.2K. Regretting not waiting a day later and I would have made another 800, still massive profits though.

With all my big investments, they have gone pretty well, netting me quite a lot of profit. I bought ETH when it was at 200 and now it is almost at 300 and I sold all of mine a day or 2 ago.

I do have the money from my previous trade to do it, and I am just waiting for the right time to invest it.

I do not think that it can be compared that way, since both is still make a good progress. Of course you need huge amount to get good outcome too and it is the same as gambling investment so I think both of these thing that we start from now. If you have more money you still can invest on bitcoin too so in the end you will get both payout

Bank interests are like joke in lot of countries around the world. It is only good if you have huge amount of money. But bitcoin profits are very high. I prefer btc profits.

Keep the money in bitcoin is much more profitable than any Bank. I never liked banks and therefore did not use their services. All banks are crooks who live by robbing people. I will be very glad if all people will go to bitcoin. Then the banks will die.

The bank is quite safe but we can not get that much money from saving the investment in the bank. Bitcoin becomes a very attractive offer because significant price increases can make us get a big profit. Bitcoin prices continue to increase every time, this is an attractive investment compared to saving all our investment in the bank. Security is an important factor, but as long as we can work carefully and thoroughly then the bitcoin we have will always be safe. Do not be afraid to use bitcoin as long as we do not make mistakes.

No bank gives 10% interest on your saving amount. The rate of inflation is higher than interest rates of any bank so actually keeping money in bank will diminish it value. Bitcoin on other hand have surpassed many other investment asset in terms of ROI it has to offer. It is always best to choose Bitcoin for growing your money.

I also prefer bitcoin profits rather than bank interest because as far as I know you could get profit there if you have a huge amount of money and it is annual before you get profits unlike bitcoin. Yeah, though bitcoin also require a lot of time in order to gain profit but you could get a high profit even though you have small amount of money. Besides, bitcoin is known as volatile so anytime it could rise up onto enormous value.

In the fact, banks saving just helps us keep safe our money.
The profit earned from saving in Banks can't enough for our life because every year the value every things increasing, just the value of papper money is decreasing.

I think keeping money in banks is a good thing, it's safe for our money, even though we only get very small profits. For bitcoin, the profit we get from it is huge, but they are not stable, very dangerous.

Saving in banks in this year, even 2 years ago worse than I use my money to buying gold or real estates for saving.
Because the profit from saving money in banks in recently very small and not safe as our mean.

The interests banks pay at the moment are so low, inflation is even higher.
Only by that you end up losing money if you put it in a bank account.
The you have to add the fees the banks take as well.
Often your account costs you more than the interests they pay you.
A bitcoin wallet costs you nothing.

Well of course bitcoin is more profitable than bank. I mean, the price is fluctuacting and we can have higher chance to gain many profit, unlike bank where we can't really expect much. Although there are some services that's quite great in bank, it doesn't really increases the amount of our money, unlike bitcoin.
Your friend did quite a great job to invest in bitcoin. But he should have waited for more time before selling it, so he can gain more profits from it.

Even if bitcoin will grow at a rate of 10% per year he will still bring more income than any Deposit in the Bank. In fact, banks do not give you profit. They just adjust the value of your Deposit at the rate of inflation. If you compare the purchasing power in a year your Deposit in the Bank depreciates.

It is clearly shows that bitcoin profit is very far high than bank interest. Bitcoin gives more opportunity for high return investment. But then it is unpredictable unlike banks with permanent interest rates the return in bitcoin is something that you need to take a risk. Bitcoin rise high and may fall very low right now investing in bitcoin is really a success but we never what will happen tomorrow

It is clearly shows that bitcoin profit is very far high than bank interest. Bitcoin gives more opportunity for high return investment. But then it is unpredictable unlike banks with permanent interest rates the return in bitcoin is something that you need to take a risk. Bitcoin rise high and may fall very low right now investing in bitcoin is really a success but we never what will happen tomorrow

Well, in my country there are two types of interest, if you invest with local money you will receive 20% plus yearly, if you invest with us dollar then you will make 3% yearly.
according to blockchain rates, bitcoin price did an increase of value worth of 60% in the last two months, that is 30 times more than in my country (30 years on usd) and 3 years with local money (but because of inflation it could probably be more times)
So yes, bitcoin could make you earn more interests.

The advantage having bitcoin still much larger than provided by bank. Because in bitcoin, we do what really is called investment, whereas in bank our money is only a tool to enrich bank itself. banks lend to borrowers using customer money.

Banking interest = no stress, you know what you have and that your principle won't vanish - so there is that advantage. Buying at todays price, idk that's fucking stressful.

If told to choose I prefer the profit of bitcoin.
Because the profit from bitcoin is much bigger I get than bank interest.
Other than that the advantage is faster to profit from BTC than bank interest.

Banks give very small percentage as interest say 2 or 3% which would be a very small return.Earlier,people had no option except depositing huge amounts in banks so that their investment would also be secure.But now,bitcoin has become their ultimate choice.They could get huge returns by investing in bitcoins and they find their investments also secure since bitcoin works in a secured block chain system.Thats why banks have started to fear about bitcoins that they are losing their revenue got from transactions due to bitcoins and in future,they may start losing deposits also.

Common people are not that skilled to make a investment or hold the bitcoin as a form of saving. This will increase over the days when digital currency turns to be an daily usable thing same as our traditional fiat. Compared to the bank interests the profit made from bitcoin holding is very big.

Bank interest rates are very low, and even under 1% per annum in some countries, so of course Bitcoin is way better performing.

that is right but i can say that nothing is impossible in this world, in fact if a person study do little struggle then  he can really learn about trading and can learn about trading very easily and after some time a person can get good experience and can then make good profit from trading.

Yes you are right. Even a school studying student can do trading and investment in bitcoin. It's very easy to understand bitcoin. Only you need is Interest for learning about bitcoin. If you inverse your money in bank means.Only you will get percentage of profit for your money. But here you will get double the amount inversement in bitcoin.

Your friend have done the biggest mistake of his life. He should have hold the coin until today. Now, calculate the what profit he could have made, almost 72000$ in one and half year  :o . That would be amazing.

At this moment buying bitcoin does not seem like the best idea, if you have bitcoin this is the best time to sell, get your profits and wait for the correction in the market and then at that time buy bitcoin, but the answer is yes I will be willing to risk an amount that big of money in order to try to get profits with bitcoin.

Your somewhat right, for some reason many still buying bitcoin as of now hoping it would go up next year. That is a risky move but obviously those who done it are gamblers or will funded individuals. Let's see where we can go beyond $5000 price/mark this year.

I am agree with you that the interest rate of banks are very low and we are not fully satisfied of this amount of interest and also through the low interest rate of bank we can not fulfill our daily needs completely. Otherwise right, bitcoin is very better to perform their activities so which we can make very easily much profit. So I think if we save our money in bitcoin it give to us very much money.

Instead of getting extremely low bank interest, I would go all in with bitcoin. This is very profitable and clear.

It is understood by the bankers so I think soon we will see a war of the banks against bitcoin. The bitcoin community is a type of Halyk Bank. Only the Bank will not give loans because take out a loan in bitcoins unprofitable. Bakery can do speculation in the market of crypto currencies, but only as individuals.

No nice interest i get from bank, even when i have savings balance over $50k. Nah on contrary, when i switch with 10% from savings to start investing bitcoin i can very unusual. My bitcoin has grown more than 30% less than 5 months. And it's still so much better than bank interest.

Oh my god! Wow! That is a lot of profit there man! Sadly, it could have been bigger if he decided to be more patient and chose to hold and wait for a little longer. Because we all know that the current price of bitcoins is still far from its peak/permanent/stable price (not so good in english). Sure, he might be laughing now, but i ak sure that after months he'll be regretting even the thought of selling his bitcoin possessions. And so much more after a few years.

If there isn't that much of a finalcial need, a smart man would never ever touch his bitcoins because he knows its potential and experienced already how hard it is to gain and to regret selling early.      

The fact, profits we get from bitcoin much better than interest given by bank. Even facilities exist in bitcoin was much better than banking. I don't need a bank to save money, all i need is more bitcoin to gain more profit.

yes there is no doubt about this that the profit that we get from bitcoin is more better that bank interest. in fact in some religions interest is not as consider legal while business and investment is legal, because when you are related to any kind of business not only you but so many other people are also related to your business and they are a good earning their livelihood through your business. so investment is the best option in bitcoin.

This is a not contest bitcoin is probably one of the best investments in the world there is no way banks can give those interest rates when in fact I have heard that some banks are now charging you money for having your money stored with them, that is crazy.

Many say that investment in the crypto currency is very risky. But if you think about it, storing money in a bank is also very risky. Therefore, comparing the profit from the deposit in the bank and from bitcoin, I will definitely choose bitcoin

Storing money in a bank is more than risky, it can be dangerous with negative interest rate policy, bank runs, or excess government regulation over cash. For modern day example, take a look at what happened in Greece and don't forget it. No country is immune to a financial meltdown. It's better to diversify your own finances to have more control of your wealth. Do not leave your family open to the control of institutions out of your control. At the end of the day, institutions do not care about what happens to you or your family.

Much more if he had hold them for a few weeks or months. Bitcoins price is still shooting high. :)

Nice success story, it could have gone either way but it went well, it not a reason anybody should jump into bitcoin. It is expected you do your investment research before investing. Bitcoin can give good yield when you understand the market. Presently bitcoin price is on the high and not a good entry point but as regards a good investment opportunity yeah bitcoin is. Make sure you find a good entry point.

Of course bitcoin very profitable when compared with interest rate we get from saving in bank. My constraint isn't about bank interest, but at my ease in transactions and saving make me choose bitcoin. Even in country i live, to make large withdrawals, sometimes have to wait up to 1 day.

They was nothing to predict it was a clear picture in front of you i don't how long have you been investing in bitcoin but nowadays just by looking at the market and seeing the price it is really easy to predict. Maybe if you had read it earlier and took it seriously you might be praising me now than regretting

True, the risk of an investments is not only in its volatility it is on how much money you are guaranteed to lose and while bitcoin can give profits and losses to traders fiat gives guaranteed losses to everyone that holds it since inflation keeps reducing your purchasing power.

Bitcoin offer the best profits/interest rate than any other banks in this world ;D
None could compare with bitcoin interest value, if you consider it as another way to deposit your money.
It's remain safe for a long time as you want it, whether a year or even 10 years.
Since I knew about bitcoin, bank isn't my priority to save money, there's bitcoin wallet which is far better than bank account.

Profits from bitcoin much higher than what bank interest. And it's supposed bank is innovating more so people want to save their money back than bitcoin. There is no profit i get from bank, whereas in bitcoin. Money i invest has grown x2. Different gains.

Well there are some countries in which if you deposit money in your bank bank takes interest from the customers and other countries pay some marginal interest for keeping money in bank. While on other hand if you invest in btc and keep it probably one day you may become millionaire with some investment itself which cannot happen in bank anytime till your retirement too.

You really correctly noticed that working with Bitcoin brings much more profit than banking. Of course If you pay attention to how you can invest in the banking sector from Bitcoin, the difference will be very significant.

Well, you are telling 10% interest rate, can you tell me the name of bank, which bank offer you 10% rate?
Actually, in my country, bank give us offer very cheap lowest rate, and even it is useless to save on bank.
That the reason, i feel surprising about your rate of interest.
May be in other countries bank give the different rate of interest.
But i prefer to bitcoin profit than bank interest. 

If we consider blockchain and cryptocurrencies will replace and overthrow baking system in the future, it is clear that bitcoin will be more profitable than banks in long term. I do not think it is risky, bitcoin can be safer than banking system because banks may collapse in any financial crysis like lehman brothers

What bitcoin can't collapse? Here they are on the same level of risk. Bitcoin more attractive to me because it is not affected by inflation. Even if the price of bitcoin will not grow at all I will not abandon him because he will be cheaper than Fiat.

Additionally, when use Bitcoin we can avoid the taxes fee from government, what a lot of people want have when business. So, for me Bitcoin is best place for putting my money.

Return is directly proportional to risk. Bank deposits are (almost) risk-free investments. So you are bound to get low returns. It is foolish to compare that with Bitcoin, which is a risky investment.

This is true and this show to us the big mistake that people make when they keep their money in a bank, you need to put that money to work for you, if you do not then you are losing money and losing money is always bad no matter how you try to explain it.

Without hesitation i would invest $10000 because bitcoin now has a favorable market to grow and can allow me to get my profits faster than your friend had to wait.


You got that right there was so much uncertainty back then...luckily investing in bitcoin is no longer high risk, it's a safe haven.

People more and more are starting to put their savings to work. In most cases they tend to go with bonds, funds, defensive stock portfolios, etc. Obviously, there is nothing wrong with that, but if you consider that there are far better alternatives (yes, I am referring to Bitcoin), you'll be getting much more out of your capital than when you choose to go with the afore mentioned options. Why waiting a full year to generate a few lousy percentages while you can make your invested capital go nuts (positively speaking) with Bitcoin? I seriously don't find it worthwhile to waste a full year just to gain 2-3%.

Most of the average joe type of people are far too conservative to put their nose into something they don't know anything about - Bitcoin nicely fits in that category. If you look at the average interest rates they generate annually (nowadays well under 1%), then a 3% top return isn't all that bad in their eyes. Important to take into consideration is the fact that they aren't used, and not willing to take any risks with the savings they worked their entire life for to build up. I think it's fair to say that if these people end up generating enough per annual term to avoid seeing their savings lose buying power, that they are perfectly fine with it.

Banks can only offer you 3-5% percent of your deposit while in bitcoins there's no limit of the percent of you can earn from stocking them in your bitcoin wallet since i don't have a bank account i always preferred to use bitcoin wallet and cardless atm to withdraw my money that came from bitcoin. As of now if you do invest your money from gambling or when the time bitcoin is more cheaper than now maybe we can make thousands of dollars.

Yes, banks provide such a low interest percentage on our savings. Once again in that the bank deducts several charges for services that we have never used. In reality the profit made from similar amounts of bitcoin will be at least 100 times higher than what's got through the interest got from banks.

We can not actually compared this two investment angle for now. Bitcoin investment is far more profitable than fixed deposit in the bank. Your friend even earn 10% per annual for his involvement in my country the fixed deposit rate is 8% per annual. Bitcoin has given over 300% return to the holders this year alone.

Banking interest is safe and low profit but any other form of investment has a risk you own and the profit you earn will be much higher,be it in stock market or any other investment,2016 was probably the best year to invest in bitcoin and people who took a wise decision to invest has made an insane amount of profit than any other forms of investment and it will keep on increasing with time.

Not sure where you are located to have banks offer you such high interest rates, but there is a difference when it comes to generating interest and storing your coins in your wallet.

The interest you generate from banks will be stacked up on top of your initial savings deposit, while if you store/hodl Bitcoin for whatever time period, you don't actually gain anything until you start cashing them out.

In that exact same way, if the price happens to go down, you also won't lose anything until you cash out. Till that time, everything you 'lose' or 'gain' will be nothing more than a result on paper, and thus not effective.

That is what makes BANK quite in demand by many people, safe and reliable investment. But the BANK will not make us get a big profit. When we want to get big profits then investing in bitcoin is the best choice, but investing in cryptocurrencies also has a big risk. This is very balanced because when we want to get big profits then we have to go through big risks as well. So everyone will have their choice. I would choose to invest in bitcoin in order to get a bigger chance in making a profit.

It depends, if that is the only amount of money that you are going to invest for a long time then I will invest that in bitcoin but if you have plans to keep investing more money in the future then I think I will invest in altcoins instead.

Bitcoin investments has higher advantages compared with banking investments for now, and I tell you banks will only be making profit at their end at 95 % and lesser with the depositors side. They just get small returns from their deposited money, since all we wanted is profit but most of the holders in the banks were further frustrated. Now there's bitcoin profit like the investments of holding an amount which took higher capability to gain higher investments earning once price will reached the good value so you can enjoy the profit you wanted to.

Obviously Bitcoin profits is a lot more than bank interest, bank give you very small percentage yearly for your savings, while the Bitcoin's price is increasing almost weekly (and sometimes daily) and it is expected that the price will reach really highest levels soon.

i am sure that bitcoin profit will bigger than bank interest because the percentage from the banks is too small and can not compare with bitcoin profits. bitcoin profits in one day can reach bank interest in a month and if bitcoin profits in a month comparing between bank interest, maybe its too big bitcoin profits.

The decision he made to invest in Bitcoins at such prices was a great decision.
He waited till the price rise, that was awesome too.
But he sold at 1k? Must be crying hard atm and thinking how stupid he must have been for not waiting a bit more to have his profits ten folded.
Anyways, it is said that better late than never so ask him to be very careful next time he decides to take such decisions.

Talking like 8th grader, lol. No /s

No wonder so many people still in Bitcoin, when it's the only thing they'll ever know about blockchain technology.

I hope Jihan will slap you.

That story might have more impact when the selling transaction happened this August, but it is still a win deal for him and for you having a expensive launch. A profit is still a profit no matter how small or big it is, what is important you're happy and he feels happy about it.

After I found out about the crypto currency, I forgot about the banks. I do not need them for lending and keeping money. I use ATMs only to receive cash through exchange offices
Bitcoin is our future

Yeah banks pays interest in peanuts and inflation will eat away all your profits so its better to keep money in bitcoins and hold it for future as you will surely make higher profits in bitcoins in compare to interest paid by banks and after having a bitcoin wallet you don't need banks for saving your money as you have your own bank in the form of bitcoin wallet.

Bitcoin profits is really better and more than bank interest. You need to hold very big amount in your bank in order to get some small interest yearly, while using Bitcoin you get the profit each time the price increase.

It sure is a difficult decision because 10k $ is a big amount, putting in bank is more secure, but put it in bitcoin form sure can multiply your money, if your 10k is a spare money then I will go for bitcoin but if it is used for you daily life I think you better split your investment in bank and bitcoin

you can find about bank offers 10% interest, in poor country or county with GDP is very low
but in europa land bank interest under 0.5%/year same with USA, japan and more

but if you want good profit and return is the best invest bitcoin and altcoin

Banks have always been a very bad bet when saving your money, many do not give you interest rates, you do not have a guarantee you are going to get your money back, and you are losing control of your money in which you give all the power to the bank.

Interest given by bank or even its facilities, isnt worth what we sacrifice. Because we let bank make more money by lending to creditors. while we are struggling to saving on them, just get a tip of hair from what they get from utilizing our money. And now is the era bitcoin, where we have full control of money we have and profits are entirely within us.

Indeed, with trader in Bitcoin, earn profit 1% per day very easy if you have knowledge and experience about cryptocurrency market and a little luck. And only after one week if you can do that as my said, you will have profit = one year save in bank ...

That's why I love tradings since it can give a huge profit that can't be given by the bank and bitcoin investments can make us more richer since we have so many options to join with where we can earn more. But on the other hand Bank are passive investments with low risk and this one would be advisable for the people who cannot afford to lose on Bitcoins sudden flactuation.

I bet your friend should be regret selling its 20 btc at $1005 after seeing right now price. But he's doing good for holding it until 1 years. Not so much are like him, mostly dont trust bitcoin. well, by the way, if I have big mount of money, I would take a risk for investing in bitcoin. Because though right now I just have a small money to investing in it, I've already gain a quite big profit. And the bank interest you mention on top, I guess Its the best interest in the world. In my country, the best interest isn't more than 6.5% monthly.

I am also a resident of a poor country with very high inflation. My bank offers me 18% per annum if the deposit is in national currency.
But in the end I will not get anything, because inflation will be higher.
So I chose bitcoin for investment

In bitcoin when you earn money you do it through the revaluation of bitcoin against fiat but the amount of bitcoin in your wallet remains unchanged, in a way this is very similar to stocks when the price goes up you still have the same number of stocks as before.

The more I see how Bitcoin is growing continuously the more I am convinced that selling bitcoin - unless you are desperately in need of money - is a foolish move.
Take a look at the opening post, op's friend made quite a bit money on his BTC investment. Was it 10k USD?
But imagine if he would wait and sell BTC now - or even better in 2020 - after the next halving. The profit would be 5 or even 10 more times greater.

It's a good opportunity with the wallet site that I am using right now the fiat value doesn't change and it's more like a good savings account provided to every user. But if you wanted to have an option to go for holding bitcoin for profit purpose it's a good and fast ways to exchange directly within seconds you can invest bitcoin right away if you have fiat value on your wallet. Bank just gained profit directly from wallet site and they have the biggest market now in the whole country.

The fact is that there are a lot of forecasts for today, but not one yet does not say that the price for Bitcoin can fall together. We write video of insignificant price fluctuations, but it does not change the cardinal rate.

Nonetheless i think what is important your friend get profits and thanks to your we'll to teach others and you deserved more than just an expensive dinners. Maybe some will tell someone to be regretful by selling at that range and not now when bitcoin is in high price, that's not the point here. It is a story of sucess no matter who discredit it.

If i must to make a comparison then I think it is more profitable to save money in the form of bitcoin than to saving money in the bank. actually saving money in the bank is not bad even they give a small profit from interest but they can give you a guarantee, your money will be safe at there.

Banks can not compare with bitcoin, because the profits from them are fixed and long term, so they only give a very low rate. Conversely, with bitcoin, profits are generated quickly, but we do not have any legal factors to secure our money.

It is true that what you gain in hodling bitcoin is paper value but it is still a upper hand than just relying on what interest the banks give you on your deposit amount. Banks do not give interest higher than inflation rate, so you actually lose value of money over time. While bitcoin gives above inflation rate interest. Though it is paper value, you can choose to cash out interest anytime you wanted.

Yes, with banks the interest for the savings has been credited based on the holding time period. In most of the schemes what the user gets at the end of the day is very very small compared to the one that an user gets through bitcoin just on holding. Maybe for the security concern bitcoin might be lacking.

It will depend on how we control our wallets ,security of btc were proven to be safe now and does have lot's of way to implement security sepending on what wallet we used. As per the existence btc wull nevee crash now since it is supported by biggest companies unlike bank even there are comapanies who supported it it still tends to crash,saving on it is a headache since instead of having additional savong little by little it will gone.

I have 30k USD in my bank account and I get only %10 interest per year. I'm very regretful about that, if I hold Bitcoin I could've got 100k USD already this year. But you never know, in bull market everybody wins. In bear market most people lose. Bank interest is guaranteed profit, even though it's very low. Considering inflation rate you get nothing for your money in bank account. I believe in Bitcoin. I have some that I never touch in offline wallet. In the future it will be my retiring fund. None of these banks can give this type of profit.

Thats is an example of how the banks works, that's why we're here out of the box solutions just to separate ourselves from central banks. I thinks 7000$ profit at that time is enough, but if those had happened at 4700$ for one bitcoin there will be a different story but don't get me wrong it is still a big profit and we do have choices and I respect yours and your friend.

Comparing bank interest and bitcoin profits is just meaningless for me. Bank interest rate is low in USA, Japan, Switzerland and similar nice countries. So you can't earn money with bank interest. When you realize bitcoin, its return is thousand times better than bank's.

The interest paid by banks is too low and inflation rate in my country is on the moon so there is no point in saving money in banks as it will never give me a feeling of getting some returns so I will go for investing money in bitcoins and saving it in my bitcoin wallet as over a period of time it will surely give me higher returns in compare to bank interest.

True, in our country the interest banks gives in saving accounts are just around 0.25%, by the end of the year it's just really little.
With bitcoin, trading gives us a better percentage on earnings - you just have to learned the strategy and get updated on the bitcoin price cap.
For young people - bitcoin is a great start to be knowledgeable in trading and investing. I actually learned a lot about the economy thanks to this forum!

Even if you don't trade and simply hold your bitcoins for future even though it will give you higher profits in compare to saving money in banks and if you have good knowledge of trading then its good to invest some money in it and try to grow your bitcoins over a period of time by making regular profits.

Maybe you are right with that, bitcoin can give more profits than banks.. But when you invest into a bank you know that you are never gonna lose your money.
When you invest in bitcoin, you only invest the most you can afford to loose, and when you are gonna invest into a bank, you dont invest "$100" you have to invest a good amount of money because if you dont, then you are gonna earn pennies every month.
So in a bank you can invest 1 million dollars and you know that you are never gonna lose them... but the return is too low.

If a person has one million dollars to invest then he will surely invest in banks and won't take a risk of investing in bitcoins as even if he is getting lower returns from bank he is sure that he will surely get certain percentage of profits from it and a person who don't want to take higher risk will never invest higher capital in bitcoins.

This is just so obvious. Person who isn't ready to take risk won't invest in a volatile asset and definitely won't earn good returns if he plays safely. Investments are all about risk. Higher the risk, higher will be the profit and vice versa. But I tend to keep Bitcoin in low risk zone because of its past growth. Bitcoin has risen year after year. With some patience anyone can escape loss. Dip stays for short term and there is always an uptrend after that. Also there must be some people who have invested millions in Bitcoin.

Bank interests were very low, and by the end of the day the user gets nothing for the savings he has done. Same with bitcoin the periodic growth generates the difference and the same will provide with the profit that could have never been possible to be earned through bank interests.

If you save money in banks then its only the banks who will make profits out of it and will give you nothing in return but we do need banks for our day to day transactions and to keep our fiat money safe in it but its also good to invest some money in bitcoins as profits you will make from it will be definitely higher then bank interest.

Banks interest just tip of nail compared profits that i earned from bitcoin. Even with deeper understanding of financial world and circulation, i am increasingly interested in capitalizing on btc rather than saving money at bank.

Selling bitcoin before it explodes is a mistake, if an early adopter wants to sell at this point I cannot blame him if he bought at 1 dollar and can sell for 4000 then that is good, but someone that bought bitcoin for 1000 should not sell unless the price hits at least 10 times what he paid.

This is not a comparison at all. I bought bitcoin for 100$ and now I have 300% profit, No bank can give me this. Bitcoin vs bank, 247 Bitcoin wins. Some times I regret Why I did not hear of Bitcoin long ago. I would have pushed all my money into it.

Simple, For me bitcoin win any time any where. Bitcoin is the bomb. When i go to bant to even withdraw the little I have the threat me bad. But not in cryptocurrency. Interest rate in banks are to low. Cryptocurrency pumps you high income. Am all up for bitcoin.

i also think so i think we should not compare the income of bitcoin the interest that we get from banks, i think that the income that we get from bitcoin is much more than the banks interest. in fact in my religion interest is not legal and if you are taking on your money you are committing a sin, therefore to me i think bitcoin is much more better that banks interest.

Bank interest has reduced by a lot numbers over the past years, most banks are struggling to provide loans and often bug people by claiming to give them low interest loans because of this bank interest reduces
Bitcoin profits are really good if you hold bitcoin wisely and don't use it for other purposes which is risky like gambling

With his calculations I do not believe any bank interests than can make a $7k/year by investing $10k. Bank interests are very low that only people with big bank account can generate those yearly profit.

Ya 100% correct. Bank interest for your money of 5-10% maximum .Which you have to maintain in the period of 1 year.But in bitcoin, their is nothing to keep for one year and all.At any time you can brought the bitcoin and at any time you can sell that bitcoin. It's freedom we have in bitcoin not in a bank.We can have n number of times Profit in bitcoin .But in bank we will get yearly interest

Forget about a year, you will not make that amount in a decade and that is without taking into account the inflation of the country which is going to slow down the earnings even further, so this once again show to us that bitcoin is not only the best investment in the world but the easiest, since you do not need to have a crystal ball to know that the longer you hold the bigger your profits.

I would say he made a mistake by selling his bitcoin at a price of a mere 1005$ per bitcoin.  That's way too less, the price is 4600$ almost as of my this moment, so look at the profit percent change, 4.5 times of his original profit he got after he sold.  This is one of the best things that a bitcoiner can experience with patience. I will not sell bitcoin at such a price, it would be considered ad a terrible mistake.
And bank interest  it is never a good option to go for, they will charge you a lot of unnecessary fees and your profit will reduce ,so I will go for bitcoin and not for bank interest any day.

Bitcoin interests were much higher than what's been earned through bank interests. Banks provide very small amount as profit for the savings, whereas with bitcoin the price varying with regards to time gives a good profiting depending on the difference happening between the time of saving as time of cashing out.

He still made a lot of money but I agree with you we must never sell unless we need to do it, bitcoin is going to keep rising in price since adoption is not going to stop especially if we take into account the small amount of people that are in bitcoin at the moment.

but bank interest is very safe
you not lost money, difference with bitcoin althoug you can get high return, but you potential lost youre money, because bitcoin price down

Well it will depends if you'll timingto cash out your btc the moment it's value dumps,which I hope we'll not be going to do. I just use banks now for cashing out purposes but if for saving my money , i will just keep it on my btc as long as i know my wallet is safe.

Bank interest is a joke! Bitcoin profits is more interesting!
Banks will do business with your money without knowing how much profit they make and later gives you a very small percentage.
While if you buy bitcoin you are in control of your bitcoin trading or lending where you may get huge profits, you may in fact double your money in few months.
 

Absolutely true, I am one of the banks employee, and I wonder whither are  they use the customers money. It turns out to investment on stock and etc. You're actually just seen the digit number in your account, mean while, they're using your money and get profits almost 100% a year, but they just give you 6% interest/year. Is it fair for you? Of course not. But that's a money game should be, there's always be a disadvanteges and advantages person.

i think with the money collected by the customer, the banks can using the money to go with investment or stock like you said and we as customer only gets small return but its cuts by the fee for monthly. i am sure that this is what the banks do with their customer and customer like us is fine with them as long as our money is safe with them.

Mistake you can lose money with your money invested in a bank, if your yearly rate is 3% and the inflation of your country is 6% you lost 3% in purchasing power, as you can see leaving your money in a bank with those low interest rates can make you lose money too.