My Bitcoin beat Bank interest rates and inflation. :->

[Wysi]

In the last couple of days, I made more profit from selling a few coins, than what I would have been making in 3 years with the interest on my savings in the Bank. ...

Be honest with yourself. You got lucky. That's it.

You make your own luck my friend. If you decided not to buy any bitcoins, then you did not make your own luck.

tell that to everyone who bought at $19k two years ago. they're still down 50%! they might not feel so lucky.

the USD may be slowly eroding in value but it provides stability that bitcoin can't compete with. there's something to be said for that.

I really feel sad for those users who bought bitcoin arkund last quarter of 2017 as most of them bought for over $15k and bitcoin has not reached that value since then and they might regret the hasty investment or just consider it as long term investment. As you said we cannot compare fiat especially USD or Gold with bitcoinm

[crwth]

I always have been inclined towards Bitcoin ever since I discovered it and thankful for how it helps me in my life. This topic brought me towards thinking about what would I do if I haven't had discovered it or not.

• Saving in a bank
• Invest in Stocks
• Invest in a business

There are different limitations in which I could personally afford. Business is not an option for me right now, I don't have that much money yet and my credit is not yet ideal for a loan with a big amount. Invest in stocks would be just a hope to have that breakthrough in a certain stock, which is not assured. Saving in a bank, however, is the easiest but gives the least results. So I personally have a saving that is worth at least 3 - 6 months of living expenses. It's for the Emergency fund that could help me with unforeseen situations. This is just my idea with different investments you could have and I'm thankful to have Bitcoin as a part of my life and be the investment that changed my life.

So, I do not know what kind of interest you are getting and how long you have to wait for that, but my Bitcoin investment has just crushed the Bank saving option.  

This is totally true in so many ways, especially if you're patient and clear minded with all the possible volatility that comes with cryptocurrencies.

[samcrypto]

Bank's interest are useless because you will just use it to pay for the fees on withdrawing your money on different ATM and of course they don't want you to earn more from them. Bitcoin is a life changer, it brings good profit that you can really use to reinvest or buy something that you want. If you will just depend on banks, you will die poor and you will never experience the real meaning of interest income. Though I still have my money with the banks for liquidity and emergency purposes, I think everyone should consider this.

[Darker45]

To be fair, the difference is that bank savings are not there to earn profit. It is there to be kept safe. However, since the banks are using that amount to make profit also, they will have to offer a little interest to these deposits. The good thing about saving in the bank than investing in Bitcoin is that you can withdraw it anytime you need it. You cannot do that to Bitcoin without facing the possibility of selling with a loss. Furthermore, bank savings are insured up to a certain amount. Meaning, a certain level of security is there. Also, if Bitcoin's price suddenly nosedive from $20,000 to $3,000 or even lower, there is nothing you can do except to wait or forced to sell with a massive loss.

[Zeke_23]

Bank's interest are useless because you will just use it to pay for the fees on withdrawing your money on different ATM and of course they don't want you to earn more from them. Bitcoin is a life changer, it brings good profit that you can really use to reinvest or buy something that you want. If you will just depend on banks, you will die poor and you will never experience the real meaning of interest income. Though I still have my money with the banks for liquidity and emergency purposes, I think everyone should consider this.

Banks are the only ones who get profitable with our investment. Their interest is very low which you can't even make enough profit over a year.
Bitcoin is a double edge sword that you can earn and have losses at the same time. It is a risk you should face to have an opportunity to have more profit than storing money on a bank.

[stompix]

~

Agreed.    I have friends in the same situation and you know what, they bought more coins at a price of $3000 at the beginning of this year and they slashed the losses when they made a profit, when they sold at $12 000+ in June.  

It's not getting your losses slashed, they've made another bet and this time they've got lucky if they hadn't made the first one they would now be in profit or if they didn't do it altogether they would still have the same amount.
Some got lucky and some didn't some invested in altcoins that they can't even move because the chain is dead, but of course, nobody is talking about that, let's do the same as casino is doing, showing pictures of the winners with Lambos and blondes and not mumbling a word about those that lost their home!

This exactly what I've told you in the other thread, this zealot type propaganda is really not helping the true cause.

but the thing is that bitcoin is not just about the monetary gains and the profit you can earn from it. bitcoin is all about liberation from centralized money

Nobody gives a damn anymore, don't you see it?
Everything is about gains in fiat, I've earned that much $, yeah, decentralization, that's also nice, but I'm just going to hodl till I get rich!!!
Pirce has rebounded and that's all that it matters to some, usage is flat but..who cares...

[Wapfika]

Let's discus your local investment options compared to the returns that you are getting from Bitcoin and let's see who is the winner in this fight to beat inflation.  

I do have stocks and VUL which is insurance with investment in equity funds, there are different reasons in having each plan. Some might not give interest but are not risky like Banks were preferred to be as emergency fund as it is not volatile and can instantly cash out.
Stocks are more into long term plan as for retirement as inflation in government increases it is better to invest now knowing those companies like for food companies will still be in need in the future,it's like taking the advantage of now. while, Insurance to protect my income if ever something happens to me
And crypto or bitcoin as a investment that can easily do transaction, gain interest but will depend on how we trade and the market performance. Actually, It all depends on how we diversify our investment since they all have their specific use.

[Juggy777]

In the last couple of days, I made more profit from selling a few coins, than what I would have been making in 3 years with the interest on my savings in the Bank.    I get about 5% yearly interest on any deposits that I have in my saving account at my Bank and I just sold some coins for a 20% profit.    <Subtract the fees and the capital gains taxes and I still get 3 times more profit, than what I would have got for a 3 year interest from an investment in a Bank>  

So, I do not know what kind of interest you are getting and how long you have to wait for that, but my Bitcoin investment has just crushed the Bank saving option.  

I also love the fact that my investment in Bitcoin is growing much faster than my local inflation rate of +/- 2%  

Let's discus your local investment options compared to the returns that you are getting from Bitcoin and let's see who is the winner in this fight to beat inflation.  

@Kakmakr are you a financial planner because I keep getting calls from them about how they’ll help me retire peacefully with a huge corpus which will beat inflation, but each and every time I ask them to plan it with bitcoins they back down and never call me back. After seeing no one was ready to help me with a financial plan that involves Bitcoins I created my own plan, wherein I keep buying and selling bitcoins and then use it for my needs. Initially I was spending it all as I’m not good with numbers, but slowly and steadily I broke it down and removed my surplus and kept on buying bitcoins again with it. So far I have made profits and some minor losses, but I feel I can proudly say that the profits are more than 5x times the bank or financial planners would have generated for me.

[Lucius]

~snip~

Banks cannot compete with Bitcoin on interest rates, that's clear to everyone (or at least to some people). Depending on annual interest rates, banks in different parts of the world have different rates, but anyone who invested $1000 in BTC about 4 years ago at $200 makes a huge profit if he sells back in 2017 or even today. That $1000 is turns into $100k, and that show without any great math, that banks and their interest rates are completely insignificant compared to Bitcoin. It is also true that some percentage of people invest in the wrong time, so they are currently at a loss (in fiat value), but if they are patient, I think their patience will certainly pay off.

If I hold $1000 in my bank for the last 4 years, I think I would not earn anything - the inflation rate and the expenses of running an account would nullify all possible profits.

[putukin]

In the last couple of days, I made more profit from selling a few coins, than what I would have been making in 3 years with the interest on my savings in the Bank.    I get about 5% yearly interest on any deposits that I have in my saving account at my Bank and I just sold some coins for a 20% profit.    <Subtract the fees and the capital gains taxes and I still get 3 times more profit, than what I would have got for a 3 year interest from an investment in a Bank>  

So, I do not know what kind of interest you are getting and how long you have to wait for that, but my Bitcoin investment has just crushed the Bank saving option.  

I also love the fact that my investment in Bitcoin is growing much faster than my local inflation rate of +/- 2%  

Let's discus your local investment options compared to the returns that you are getting from Bitcoin and let's see who is the winner in this fight to beat inflation.  

When I kept money on deposit, my bank offered me to receive 3.5% per annum. I have not used a bank for a long time, and if I take my profit from trading, I get up to 20% of the amount of my Bitcoin per month. In my opinion, the benefit is obvious

[bitbrawlers]

Banks simply hold your money for you, there is no such thing as volatility or possibility of any loss, their interest ad on is low, but I do not really expect it to be any higher. Thats one of the reasons bitcoin was created, to create an opportunity for people to purchase an asset, one that you can choose to use as a payment option whenever you so desire, or you could hodl it, with the possibility of it rising and increasing your profit.

There is risk involved when trading with bitcoin, more risk though when it's day trading, but preferably it's best to buy when the prices fall due to unending FUD and rumours, that's the time to buy bitcoin, "on the news" and sell when the prices go up, because with what I've seen, prices must always go up.

Right. Always great to buy on the dip unless you are planning to immediately use the bitcoin for something.

[abel1337]

In the last couple of days, I made more profit from selling a few coins, than what I would have been making in 3 years with the interest on my savings in the Bank.    I get about 5% yearly interest on any deposits that I have in my saving account at my Bank and I just sold some coins for a 20% profit.    <Subtract the fees and the capital gains taxes and I still get 3 times more profit, than what I would have got for a 3 year interest from an investment in a Bank>  

So, I do not know what kind of interest you are getting and how long you have to wait for that, but my Bitcoin investment has just crushed the Bank saving option.  

I also love the fact that my investment in Bitcoin is growing much faster than my local inflation rate of +/- 2%  

Let's discus your local investment options compared to the returns that you are getting from Bitcoin and let's see who is the winner in this fight to beat inflation.  

When I kept money on deposit, my bank offered me to receive 3.5% per annum. I have not used a bank for a long time, and if I take my profit from trading, I get up to 20% of the amount of my Bitcoin per month. In my opinion, the benefit is obvious

Yes that's how bank do their thing. We know that bitcoin is a very volatile asset and you can earn a big amount of percentage on just a couple of weeks, But it won't remove the risk of losing its value at the same time.

To clear this up banks offer a safer way of getting profit from them but its too much slow. Investing in bitcoin let you earn fast profits compared to banks but it also holds the risk of losing the value of your holdings.

[SummerBliss]

You can never get high returns from banks or any other currency if compared to bitcoin as it has outraged each source of earning.Usually you get 7-8% of interest per annum on your capital from banks but in btc you can get 100x-200x profit within short span of time when bull run hits the market. I have also profited from it many times so i prefer to keep less money in banks and invest more in btc.

[Sahyadri]

In the last couple of days, I made more profit from selling a few coins, than what I would have been making in 3 years with the interest on my savings in the Bank.    I get about 5% yearly interest on any deposits that I have in my saving account at my Bank and I just sold some coins for a 20% profit.    <Subtract the fees and the capital gains taxes and I still get 3 times more profit, than what I would have got for a 3 year interest from an investment in a Bank>  

So, I do not know what kind of interest you are getting and how long you have to wait for that, but my Bitcoin investment has just crushed the Bank saving option.  

I also love the fact that my investment in Bitcoin is growing much faster than my local inflation rate of +/- 2%  

Let's discus your local investment options compared to the returns that you are getting from Bitcoin and let's see who is the winner in this fight to beat inflation.  

Forget about bank rates or inflation rate which are usually in single digits, Bitcoin was able to surpass the ROI of gold, oil, bonds as well as S&P 500. If you see this year's ROI. Bitcoin gave us about 2x returns if you see today's price. No other asset can hgive you that much return in such a period. 

[Asmonist]

Personally, I still can't say that my bitcoin's interest rate and inflation vs my bank savings beats the latter. I don't really have much bitcoin yet. I believe its safe to diversify your funds. I invested in bitcoin, in mutual funds and in bank savings which I feel secure. Security in terms of spreading the risks in case one will fail.

[Reid]

Are those without bank accounts included here?
I am one of them. 

Just looking at the interest they will give in years, I already told myself there is no getting rich in just keeping money in banks.
That is why I came here.
DIY is a must by now. You cannot rely to those keepers of money anymore. They will be the one getting rich investing our money into different mutual funds while they just give a little piece of that cake. (Dust of the cake?) 

Yes, made money in trading which I should get in 10 years of keeping my money in bank. I already saved 9 years of waiting. 

[angrybirdy]

In the last couple of days, I made more profit from selling a few coins, than what I would have been making in 3 years with the interest on my savings in the Bank.    I get about 5% yearly interest on any deposits that I have in my saving account at my Bank and I just sold some coins for a 20% profit.    <Subtract the fees and the capital gains taxes and I still get 3 times more profit, than what I would have got for a 3 year interest from an investment in a Bank> 

So, I do not know what kind of interest you are getting and how long you have to wait for that, but my Bitcoin investment has just crushed the Bank saving option. 

I also love the fact that my investment in Bitcoin is growing much faster than my local inflation rate of +/- 2% 

Let's discus your local investment options compared to the returns that you are getting from Bitcoin and let's see who is the winner in this fight to beat inflation. 

Forget about bank rates or inflation rate which are usually in single digits, Bitcoin was able to surpass the ROI of gold, oil, bonds as well as S&P 500. If you see this year's ROI. Bitcoin gave us about 2x returns if you see today's price. No other asset can hgive you that much return in such a period. 

Keeping your money in a bank will only give you a 3% interest for a year depends on the bank interest. You can secure that it is safe and it won't be stolen by anyone.
Having your investment turn into bitcoin will give you a much better ROI, it is risky but it is much better than storing it without having much interest.

[joinfree]

In the last couple of days, I made more profit from selling a few coins, than what I would have been making in 3 years with the interest on my savings in the Bank.    I get about 5% yearly interest on any deposits that I have in my saving account at my Bank and I just sold some coins for a 20% profit.    <Subtract the fees and the capital gains taxes and I still get 3 times more profit, than what I would have got for a 3 year interest from an investment in a Bank>  

So, I do not know what kind of interest you are getting and how long you have to wait for that, but my Bitcoin investment has just crushed the Bank saving option.  

I also love the fact that my investment in Bitcoin is growing much faster than my local inflation rate of +/- 2%  

Let's discus your local investment options compared to the returns that you are getting from Bitcoin and let's see who is the winner in this fight to beat inflation.  

I cashed out all my savings and started investing into bitcoin and other major cryptocurrencies ever since i got to know about cryptocurrencies. I remember i once checked up on my ATM card once and realized that i owe my bank a debt for not even using my card for about 6 months lol. Anyway i have stopped using it and obviously under no circumstances would any bank's interest rates be greater than crypto investments. Hence my love for crypto!

[yoseph]

Bank's interest are useless because you will just use it to pay for the fees on withdrawing your money on different ATM and of course they don't want you to earn more from them. Bitcoin is a life changer, it brings good profit that you can really use to reinvest or buy something that you want. If you will just depend on banks, you will die poor and you will never experience the real meaning of interest income. Though I still have my money with the banks for liquidity and emergency purposes, I think everyone should consider this.

The banks use the funds from their customers to give out loans with exorbitant interest rates which they in turn profit from highly and they then turn around and give these customers such meager money as interest rates and they then turn around and take all those money in the nam of bank charges.

[adaseb]

The real true inflation isn't only 2%, its more like 5%. There was a guy who kept a Burrito index which shows the true inflation and how expensive some common household items like food have gotten, just google it when you have time.

Basically the inflation index since 2000 was about 50% but the true inflation according to the burrito is more like 200%. Some stuff like cars, electronics, gasoline might be less inflation but basic goods like food or electricity or gas to heat your home is crazy expensive these days.

In my opinion the inflation index really needs to be changed to be more accurate.