12-01-2021, 08:11 PM
My bank paid me £0.01 interest this month based on ~£2,000. 77100%+ less than Cryp
<!-- SC_OFF --><div class="md"><p>NOTE: The title should have read “my bank paid me £0.01 interest this month based on ~£2000. I would be 77100%+ better off had i staked that £2000” . This is because it’s mathematically impossible for something to be more than 100% less. It would be 99.999…</p> <p>Banks make a tonne of money off of our money and custom. It’s well known that banks manipulate the money supply and interest rates. They have the ability to increase and decrease the money supply, resulting in major economic changes. They make money from interest loans, account usage, applications, ATM charges, credit card charges, deposits, withdrawals (depending on which account you have). </p> <p>A central bank’s actions also have an effect on imports, exports, and overseas investment & Central banks use a network of banks to distribute money in an economic system . The problem with the structure described above is that it places far too much trust and responsibility on the decisions of a central agency.</p> <p>Cryptocurrencies such as Bitcoin solves a few issues. No double spending, it’s algorithmic construct is decentralised, streamlined process to produce and distribute the currency.</p> <p>On top of that, let’s say if you had £1,000 and put it into USDC — which is a stable coin - that would be $1,331.76. You can stake that for 9.35% APR which could be $10.28 (£7.72) estimated monthly earning & $130.56 yearly. The monthly amount is a 77100% increase from the £0.01 my bank paid which they calculated on around £2,000</p> <p>Or, coins like Gala are up 216K%, a £100 investment into would be £216,426.9 — but obviously statements like that are easy to say in hindsight. But what I’m saying is, crypto is a great investment if you do your due diligence. </p> <p>We need to make our money work for us just like banks do, and cryptocurrency enables us to do so. Don’t spend money of big brands buy their stock. Don’t buy big chains (jewellery), buy physical gold/silver. Don’t rely on banks, gain control of your finances and do crypto ?❤️</p> <p>EDIT - here is The notification I got showing the £0.01p internet earned ??? <a href="https://imgur.com/a/TEZT8M2">https://imgur.com/a/TEZT8M2</a></p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/SoulUrgeDestiny"> /u/SoulUrgeDestiny </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/r6cg8q/my_bank_paid_me_001_interest_this_month_based_on/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/r6cg8q/my_bank_paid_me_001_interest_this_month_based_on/">[comments]</a></span>Kind Regards R
<!-- SC_OFF --><div class="md"><p>NOTE: The title should have read “my bank paid me £0.01 interest this month based on ~£2000. I would be 77100%+ better off had i staked that £2000” . This is because it’s mathematically impossible for something to be more than 100% less. It would be 99.999…</p> <p>Banks make a tonne of money off of our money and custom. It’s well known that banks manipulate the money supply and interest rates. They have the ability to increase and decrease the money supply, resulting in major economic changes. They make money from interest loans, account usage, applications, ATM charges, credit card charges, deposits, withdrawals (depending on which account you have). </p> <p>A central bank’s actions also have an effect on imports, exports, and overseas investment & Central banks use a network of banks to distribute money in an economic system . The problem with the structure described above is that it places far too much trust and responsibility on the decisions of a central agency.</p> <p>Cryptocurrencies such as Bitcoin solves a few issues. No double spending, it’s algorithmic construct is decentralised, streamlined process to produce and distribute the currency.</p> <p>On top of that, let’s say if you had £1,000 and put it into USDC — which is a stable coin - that would be $1,331.76. You can stake that for 9.35% APR which could be $10.28 (£7.72) estimated monthly earning & $130.56 yearly. The monthly amount is a 77100% increase from the £0.01 my bank paid which they calculated on around £2,000</p> <p>Or, coins like Gala are up 216K%, a £100 investment into would be £216,426.9 — but obviously statements like that are easy to say in hindsight. But what I’m saying is, crypto is a great investment if you do your due diligence. </p> <p>We need to make our money work for us just like banks do, and cryptocurrency enables us to do so. Don’t spend money of big brands buy their stock. Don’t buy big chains (jewellery), buy physical gold/silver. Don’t rely on banks, gain control of your finances and do crypto ?❤️</p> <p>EDIT - here is The notification I got showing the £0.01p internet earned ??? <a href="https://imgur.com/a/TEZT8M2">https://imgur.com/a/TEZT8M2</a></p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/SoulUrgeDestiny"> /u/SoulUrgeDestiny </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/r6cg8q/my_bank_paid_me_001_interest_this_month_based_on/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/r6cg8q/my_bank_paid_me_001_interest_this_month_based_on/">[comments]</a></span>Kind Regards R