Title: BTC deposit accountsbearing interest? Post by: qwerty555 on May 20, 2013, 08:48:53 AM Are any members working on projects for BTC interest bearing accounts?
Do any exist? 5% p.a easily beats the Banks and should be achievable with a professional and experienced team given current price fluctuations of 5-10% daily Title: Re: BTC deposit accountsbearing interest? Post by: John (John K.) on May 20, 2013, 08:51:22 AM Hmm.. I remember Pirate@40 was offering 7% per week. That should beat the measly 5% PA! ;)
PS: My local bank does around 4% P.A. for FD's last time I checked. How's your bank doing? Title: Re: BTC deposit accountsbearing interest? Post by: qwerty555 on May 20, 2013, 09:06:03 AM 7 %/ week sounded too good to be true so I had a quick google and this is what I found ( without passing judgement to the veracity of the claim)
Phinnaeus Gage freelance investigator with the help of the rest of the bitcoin community Discovers Trendon Shavers a.k.a. Pirate@40 of $5 million ponzi scheme! http://www.bitcointrading.com/forum/talk-bitcoin/trendon-shavers-a-k-a-pirate40-of-bst-has-been-found!/ If your banks offer 5% ( mine offers in the region of 3% at best) http://philippines.deposits.org/ then maybe a 10% p.a. rate with a reputable and deposit insured institution ( as opposed to an individual) would be interesting. It of course opens the possibilities of BTC commercial and personal loans which are proven money earners if properly managed Title: Re: BTC deposit accountsbearing interest? Post by: starsoccer9 on May 20, 2013, 11:20:16 AM i belive tradefortress offered something along those lines. Nothing close to that 7% a week tho
Title: Re: BTC deposit accountsbearing interest? Post by: John (John K.) on May 20, 2013, 11:23:05 AM http://asia.deposits.org/
Quote Company Country GDP Term Currency APY Khan Bank 1 Year Term Deposit mongolia 4,744 1 year MNT 15.1% May, 2013 More Info :o Title: Re: BTC deposit accountsbearing interest? Post by: 🏰 TradeFortress 🏰 on May 20, 2013, 11:31:29 AM i belive tradefortress offered something along those lines. Nothing close to that 7% a week tho Yup, http://coinlenders.com :)Title: Re: BTC deposit accountsbearing interest? Post by: qwerty555 on May 20, 2013, 01:06:26 PM Ok thanks..coinlenders INSURED deposits at 25% = apr seems like what I was looking for. The asia deposit interest rates for "Exotic" currencies indicate the perceived exchange risks (vs $US) and demand (lack of) for that currency at this time.
It is interesting that the "EXOTICS" have a lower interest rate than BTC coinlenders offer which is also indicative of the comparative risk. If however you take the view that mid term BTC will increase in value then 25% plus the value appreciation over 1 yr is fantastic. Had you bought BTC on April 10th ($260) and deposited in a 30 day CD with coinlenders you would NOT be happy with a 25% APR..and that is where the risk lies. Entry and exit points are what ultimately determines profit or loss, but as I am the "will appreciate in value' camp then coinlenders is a good option for me. thanks Title: Re: BTC deposit accountsbearing interest? Post by: qwerty555 on May 20, 2013, 01:12:27 PM OOPs took at look at the "insurance"......his "personal" insurance is probably not enforceable .. So something along these lines with a credible deposit insurance is what I need. :)
"I personally insure all BTC deposits. I have a significant amount of bitcoins and assets, and fiat income to cover the deposits. I run the investment fund BTCINVEST which previously insured the bonds and I paid out over 130 BTC as insurance. Please keep in mind this is not a bank with FDIC insurance and everything has risks. CDs (Certificates of Deposits) We also offer CDs, which are fixed term deposits. They mature at a certain date, and different terms carry different interest rates. Current CDs offered: (existing CDs will always be honored, of course) Duration (days) Min amount APR Yield 30 1 BTC 25.5% 1.01885 30 20 BTC 25.9% 1.01912 30 100 BTC 26.3% 1.0194 30 200 BTC 26.7% 1.01967 90 1 BTC 26.05% 1.05875 90 150 BTC 27.25% 1.06123 180 1 BTC 22% 1.10303 Account Interest Rates Paid Interest is compound and is paid daily if you have more than 1 BTC in balance. Deposits are prorated." Interest rates are subject to change at any time! Buy a CD if you want to lock in a fixed rate for a certain amount of time. Monthly: 30 days Yearly APR: 25.009% Monthly: 1.852% Weekly: 0.429% Daily: 0.061% (They are all the same interest rate) Withdrawing A small amount of coins is kept on the hot pocket ready for withdrawals. If you have large withdrawals, it can take time before loans are repaid and we liquidate assets before we send your coins. Logged in as 'guest' | Page executed in 0s | bitcoind latest block: sign in Title: Re: BTC deposit accountsbearing interest? Post by: qwerty555 on May 20, 2013, 01:34:13 PM without wishing to unduly cast aspersions on the ability or intention to honor a personal insurance. I have requested some quotations from a number of established insurers for the premium (probably in $'s) to insure 100BTC.
If they are able to quote I will post it. If its not prohibitive then coinlenders/others may wish to include it as a paid option when depositing Title: Re: BTC deposit accountsbearing interest? Post by: malevolent on May 20, 2013, 01:44:31 PM http://asia.deposits.org/ Quote Company Country GDP Term Currency APY Khan Bank 1 Year Term Deposit mongolia 4,744 1 year MNT 15.1% May, 2013 More Info :o The deposit is in Mongolian Togrogs which have an inflation rate of about 15%. Title: Re: BTC deposit accountsbearing interest? Post by: John (John K.) on May 20, 2013, 04:17:14 PM http://asia.deposits.org/ Quote Company Country GDP Term Currency APY Khan Bank 1 Year Term Deposit mongolia 4,744 1 year MNT 15.1% May, 2013 More Info :o The deposit is in Mongolian Togrogs which have an inflation rate of about 15%. without wishing to unduly cast aspersions on the ability or intention to honor a personal insurance. I have requested some quotations from a number of established insurers for the premium (probably in $'s) to insure 100BTC. If they are able to quote I will post it. If its not prohibitive then coinlenders/others may wish to include it as a paid option when depositing If there's an insured way of investing, sure, I'm prepared to throw my cold wallet in. ;) Title: Re: BTC deposit accountsbearing interest? Post by: qwerty555 on May 29, 2013, 02:20:58 PM On May 20 I made inquiries to 3 major insurers who claim to insure anything. I specifically requested quotations on
1 Theft from hacking of wallets 2 Loss from collapse/bankruptcy/Chapter 9 of APPROVED wallet provider 3 Loss from transfer to 3rd party. None have as yet replied or even acknowledged the Inquiry. The better news is that there is an insurer who accepts bitcoins as payment BLESS THEM !! Which is a start. http://www.bmins.com/bitcoin.html But not yet insuring bitcoin deposits. Also Pitched at Bitcoin 2013, PeerCover allows you to control your own insurance and pay only when a claim is made. No more premiums. No more paying the overhead and profit of insurance companies. You can pay in any currency. I would link you to a Ripple forum thread on PeerCover, but the site seems to be down right now. Title: Re: BTC deposit accountsbearing interest? Post by: kodo on May 29, 2013, 09:45:30 PM There are a few out there.
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