BTC deposit accountsbearing interest?

[qwerty555]

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

[1714161876]

1714161876

[1714161876]

1714161876

[1714161876]

1714161876

[John (John K.)]

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?

[qwerty555]

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

[starsoccer9]

i belive tradefortress offered something along those lines. Nothing close to that 7% a week tho

[John (John K.)]

http://asia.deposits.org/

Company      Country   GDP   Term   Currency   APY      
Khan Bank 1 Year Term Deposit      mongolia   4,744   1 year   MNT   15.1%   May, 2013   More Info

 

[🏰 TradeFortress 🏰]

i belive tradefortress offered something along those lines. Nothing close to that 7% a week tho

Yup, http://coinlenders.com

[qwerty555]

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

[qwerty555]

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.
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[qwerty555]

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

[malevolent]

http://asia.deposits.org/

Company      Country   GDP   Term   Currency   APY      
Khan Bank 1 Year Term Deposit      mongolia   4,744   1 year   MNT   15.1%   May, 2013   More Info

 

The deposit is in Mongolian Togrogs which have an inflation rate of about 15%.

[John (John K.)]

http://asia.deposits.org/

Company      Country   GDP   Term   Currency   APY      
Khan Bank 1 Year Term Deposit      mongolia   4,744   1 year   MNT   15.1%   May, 2013   More Info

 

The deposit is in Mongolian Togrogs which have an inflation rate of about 15%.

Oh, I see. You caught me when I was prepared to run to the local money exchanger. 

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. 

[qwerty555]

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.

[kodo]

There are a few out there.