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    #16
    Originally posted by kork13 View Post

    No intention to direct any inference toward yourself personally, I only meant a generic "you". I was only pointing out that relative to today, 12% is certainly a dramatic difference, but the context of the financial climate at the time lessens the impact of such high rates.
    I remember those days well. Going to the banks with my dad to buy those 12 or 13% CDs. Yes inflation was high but that was temporary and how much inflation impacts you depends on your lifestyle and shopping habits. Plus if you bought a 5 or 7 or even 10 year CD you made out great.
    Steve

    * Despite the high cost of living, it remains very popular.
    * Why should I pay for my daughter's education when she already knows everything?
    * There are no shortcuts to anywhere worth going.

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      #17
      James, What is Block Fi? I've heard of it but never really looked into it

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        #18
        Originally posted by BobbySands View Post
        James, What is Block Fi? I've heard of it but never really looked into it
        Bobbi, per crunchbase, BlockFi is:

        BlockFi is a secured non-bank lender that offers USD loans to crypto-asset owners who collateralize the loan with their crypto-assets. Their products bring additional liquidity to the blockchain asset sector and meet the needs of both individuals and institutions holding blockchain assets. BlockFi holds clients' Bitcoin and Ether with a

        registered custodian and issues loans in USD to their bank accounts. Currently operating in beta launch, lending in 35 US states to retail investors and companies.

        BlockFi’s mission is to provide liquidity, transparency, and efficiency to digital financial markets by creating products that meet the needs of consumers and corporations across the globe. They leveraging a sophisticated infrastructure that integrates with multiple blockchains, they plan to expand their product set based on their retail and institutional client's needs.


        From crunchbase.

        I'm seeing ALL the cryptolenders are paying at least 4% on their US dollar deposits. BlockFi is doing it, so it coinbase, and most of the others I've heard of. I suspect what they are doing is charging people who want to borrow using their cryptocurrency as collateral, and then passing a chunk of the fees onto their depositors. I don't know how on the up and up it is, so I've only got about $50 in BlockFi.

        That said, crypto is the wild west right now, so I'm gradually learning more.

        If it were 1850, probably these dudes would be investing in it (obligatory photo of wild west dudes).


        james.c.hendrickson@gmail.com
        202.468.6043

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          #19
          Originally posted by james.hendrickson View Post


          That said, crypto is the wild west right now, so I'm gradually learning more.

          If it were 1850, probably these dudes would be investing in it (obligatory photo of wild west dudes).

          Love the power lines and automobiles and people in modern garb, not to mention the scale of the "wild west" dudes compared to everything else! Is this meant to be a commentary on the authenticity of BlockFi?

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            #20
            Originally posted by Petunia 100 View Post

            You can get that same increase again by switching online banks. There are several paying 0.5% on savings accounts.
            And you could consider putting some in a CD with a higher rate, depending on when you think you'll need the money.
            Just one example, Nasa FCU is offering a 49-month CD at 1.35% APY. The EWP is 18 months. As long as you keep the CD 28 months or longer, you'll beat that 0.5% Petunia 100 mentioned.
            Is it a great rate? NOPE. But if you want those funds to be FDIC insured, there may be ways to make a bit more, and it's not at all pathetic to want your cash to work a little bit more productively.

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              #21
              Originally posted by disneysteve View Post

              I don’t see the point of locking up money in a CD when a savings account is paying the same amount. There’s no benefit to that.
              Correct, I should have more specific. Looking to do a .50% savings accounts next, not a CD. The minute one of these online banks offer's bonus money again I'll switch it over. At least my stocks are doing well enough to cover the difference. Like I said, I've already passed any goal I had sometime ago. Anything now is gravy money.

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