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Xubu (OP)
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December 07, 2015, 09:33:32 PM |
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Would you, or would you not?
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Xubu (OP)
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December 07, 2015, 09:47:59 PM |
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no
Why not? If you store 100BTC, next year you've got 110 BTC. I know BTC is decentralized but holding your coins on your local wallet or exchange doesn't grow your amount. |
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NorrisK
Legendary
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Activity: 1946
Merit: 1007
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December 07, 2015, 09:50:48 PM |
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The rate is just too unrealistic.. The profit of the bank has to come from somewhere to pay your interest rates. They will most likely be doing some extremely risky investments to pay you then.
That's why the answer is no.
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iluvbitcoins
Legendary
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Activity: 2198
Merit: 1150
Freedom&Honor
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December 07, 2015, 09:51:24 PM |
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no
Why not? If you store 100BTC, next year you've got 110 BTC. I know BTC is decentralized but holding your coins on your local wallet or exchange doesn't grow your amount. Neither does storing it in a bitcoin bank. |
Looking for a signature campaign.
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whizz94
Full Member
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Activity: 149
Merit: 100
Solar Bitcoin Specialist
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December 07, 2015, 09:53:09 PM |
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Would you, or would you not?
No |
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Xubu (OP)
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December 07, 2015, 09:53:50 PM |
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The rate is just too unrealistic.. The profit of the bank has to come from somewhere to pay your interest rates. They will most likely be doing some extremely risky investments to pay you then.
There is no difference with real money banks here... |
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onemorexmr
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December 07, 2015, 09:55:42 PM |
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The rate is just too unrealistic.. The profit of the bank has to come from somewhere to pay your interest rates. They will most likely be doing some extremely risky investments to pay you then.
There is no difference with real money banks here... the difference is that real banks are insured against loss |
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worsa
Newbie
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December 07, 2015, 09:56:47 PM |
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nope i would not.
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kpitti
Legendary
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Activity: 924
Merit: 1002
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December 07, 2015, 09:57:14 PM |
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Based on the information you provide the answer is - no!
Will you put your money to bank which will just post such question?
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Meuh6879
Legendary
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Activity: 1512
Merit: 1011
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December 07, 2015, 09:58:28 PM |
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 Hint : exchanges are the futurs "banks". |
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Xubu (OP)
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December 07, 2015, 10:00:21 PM |
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The rate is just too unrealistic.. The profit of the bank has to come from somewhere to pay your interest rates. They will most likely be doing some extremely risky investments to pay you then.
There is no difference with real money banks here... the difference is that real banks are insured against loss assume we live in 2020, BTC is a stable and trustable currency and the BTC bank is insured for losses. Would you trust your BTC to a bank with an annual 10%? |
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a7mos
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December 07, 2015, 10:01:08 PM |
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Would you, or would you not?
No, because bitcoin is created against the idea of central banks that are controling money and when you put your bitcoin under bank control so you do not understand the purpose of it |
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DebitMe
Legendary
Offline
Activity: 2786
Merit: 1011
Get Paid Crypto To Walk or Drive
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December 07, 2015, 10:01:11 PM |
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The issue is not the interest rate, it is the level of trust that the company has. If a "bitcoin bank" offered a high interest rate, but showed very clearly how they used their deposited funds and how they were able to pay such a rate, then there is a real possibility that this would work. 10% interest rate is not incredibly high in the bitcoin world anyway.
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Xubu (OP)
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December 07, 2015, 10:02:20 PM |
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Would you, or would you not?
No, because bitcoin is created against the idea of central banks that are controling money and when you put your bitcoin under bank control so you do not understand the purpose of it I understand the purpose of BTC sir. I just see things in another perspective. |
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onemorexmr
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December 07, 2015, 10:02:44 PM |
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The rate is just too unrealistic.. The profit of the bank has to come from somewhere to pay your interest rates. They will most likely be doing some extremely risky investments to pay you then.
There is no difference with real money banks here... the difference is that real banks are insured against loss assume we live in 2020, BTC is a stable and trustable currency and the BTC bank is insured for losses. Would you trust your BTC to a bank with an annual 10%? maybe; that depends who insured it against what kind of losses |
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wadii33
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December 07, 2015, 10:07:35 PM |
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i would say no because for yearly annual intrest 10% will be very low i can invest myself n other things and also i can manage my own bitcoin i know when to sell or buy or gamble invest etc...
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NorrisK
Legendary
Offline
Activity: 1946
Merit: 1007
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December 07, 2015, 10:08:29 PM |
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The rate is just too unrealistic.. The profit of the bank has to come from somewhere to pay your interest rates. They will most likely be doing some extremely risky investments to pay you then.
There is no difference with real money banks here... Ofcourse there is.. Real banks offer interest rates under 1% at the moment. Having a bitcoin bank offer 10x more is just screaming insane risks, there is not any option at the moment where they can make such an amount realistically. |
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Erkallys
Legendary
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Activity: 1120
Merit: 1004
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December 07, 2015, 10:13:27 PM |
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If it is a bank holded and cautioned by a big company, a even better, a big bank, why not  ! |
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countryfree
Legendary
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Activity: 3052
Merit: 1047
Your country may be your worst enemy
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December 07, 2015, 10:49:57 PM |
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Yes, I'd like to get on my BTC, but I wouldn't trust a sh*tty start-up though. I would only do it if HSBC, Credit Suisse, or a really old and respected large bank offers this kind of service. Hey, I believe in the blockchain, but I certainly don't believe all BTC entrepreneurs.
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I used to be a citizen and a taxpayer. Those days are long gone.
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