Meanwhile, while I wait for BTC price to become cheaper, I CANNOT believe I am earning 438% interest on 76k on Bitfinex.
At these rates, I will have to be wiring some additional money there soon. I mean, for 100k I can clear over $1000 in interest. Each day. I will double my money in 3 months, basically risk free. That's insane. A million would net $300k a month at this rate. Surely these are the highest interests rates in the world.
windjc, to come back to this topic:
As a result of you talking about the interest rates on Bitfinex, I created an account to find out how it works.
I only see loans at about 0.15%/day, though - which doesn't add up to a yearly >400% interest. Am I missing something? Could you enlighten me?
Let's say I can get a daily interest rate of 0.15%:
1.0015^365=1.73 (73% interest)