Bitcoin Forum

This is the original post:
https://bitcointalk.org/index.php?topic=774359.0

Anyone tried things like that? Is it safe  :-\ :-\ :-\

yes, giving your coins to complete strangers for a slim possibility of measly returns is an absolutely safe and sound idea.

do you give cash on a street to a guy holding a sign "i'll return more next month same place"? similar business strategy. might just work.

Ask yourself: How is this any different from pirateat40's Bitcoin savings &trust?

Bitcoin is a deflationary product. Therefore, technically, it cannot generate interests. You don't get more and more bitcoins as time goes by, you get less and less. If you're saying generating interests paid in fiat then yes, but that is only compensating the loss of value of an inflationary product like fiat against a deflationary product like bitcoin or gold or silver.

bitfinex is obv the best place to earn interest on cryptos u have or fiat...

Why would anyone entrust their btc to someone else overseas? 1.5% daily is an extremely good rate for fiat, but for bitcoin, it cannot cover the risks of loosing all your bitcoin.

No, it is an amazingly bad rate. If somebody offers you 1.5% *daily* on anything, you have to ask yourself simple question - how many more days will this continue? Because that rate in a year turns $100 into $23,000 - there's no repeatable investment or business strategies that would guarantee these returns besides maybe making gold out of horse shit. Fact is, if such a miraculous money making source is found, nobody would care or need to multiply *your* money. So when you are asked to invest under such a huge %%, that means only one thing - somebody desperately needs to steal your money. Nothing else.

Yes I tried and lost a lot of money. This is a scam like a lot of services in the BC industry. This is going to crash hard unfortunately...

I don't think bitfinex in specific makes gold out of horse shit. You basically provide liquidity, there's even a detailed article on how this works in their website. It still involves risk though. 

It's virtually no more risky than simply holding BTC or fiat on Bitfinex, though. They insure the loans and would push back trades in the event of a flash crash, so you can't lose your money lending unless Bitfinex steals it or goes under.

True, 1.5% is still a good rate, but the business smells fishy.

People this is a true Ponzi scheme. Read up on Bernie Madoff. :)

No, 1.4% is monthly not daily. OP has corrected the typo.

Then no one will ever be interested, especially if OP is in China, no way to get your money back.