The OP way be getting 11.5% interest but the government is taking a percentage of that through
inflation, so its not really 11.5% and then there is probably a tax on that profit also.
For example in my country the government are providing a savings scheme over 10 years at 22%!
yes 22% . . . over the 10 years which is only 2.2% per year but inflation is advertised at running at
about 4%, in reality its higher. So anyone putting money in the bank is actually losing.
Same with the OP's scenario, its not actually 11.5,%
Thats where BTC makes better sense
I can't agree more. Actually, traditional people typically look at the return in nominal terms, they don't consider the purchasing power, and that's bad optics. The new generation is smarter, but I have seen people choosing a chocolate bar when given an option to choose between a 10-ounce bar of pure silver bullion and a Hershey's King Size chocolate bar.
In this situation, I only believe in one thing, that not all five fingers are equal, so not everyone is as smart as they look. Anyway, with time, I hope everyone will look at purchasing power instead of just looking from the nominal side.
BTW, the interest rate is lower in your country, here people can earn 7% to 15% per year by depositing in banks. Which is a good offer because inflation is high, but not this high. But here, people have to pay 20% tax on the amount they made in profit as well.
