Post
Topic
Board Bitcoin Discussion
Re: Interest on Bitcoin
by
Flexystar
on 05/11/2021, 17:09:09 UTC
Wondering how many of you earn interest on your Bitcoin?
I do not think this is necessary, it is obvious with increase in bitcoin price.

Do you feel this is risky, whoever owns the private key owns the BTC ?
Who owns the seed phrase or the private key owns the bitcoin, it is not risky if you think bitcoin network can fail, never think of that because bitcoin network is stronger than anything you can compare it with. What you should be careful about are hackers and scammers generally.

Yeah, the bitcoin network. Look through the eyes of coder and they will tell the grim reality of the same. It's complex network of nodes, blocks, getting confirmed again and again by different miners, one after another and the process is just non ending. The hash generated is almost equal to garbage but with unique serial and unique information that is understood by the blockchain and miner.

Yes its beautiful thing to understand. Big network with public to public ledger and connectivity. I think there is small or rare chance that bitcoin will ever fail. The network just can't fail because its running on multiple systems, multiple pc's, miners etc. So if you ask me, then its surely secure one.

Well, I barely doubt there is service or project who can offer you 6% interest on the bitcoin. It's just does not make sense considering the prices are volatile.