Possible drawback on using Crypto currencies?

[Soappa]

Well "Believe me" IF I did know about this, back then, and I figured out early enough, about the potential of Crypto Currency, I would have been into this, with everything I had.

I believe most of us here wishes that we have heard of bitcoin earlier and have bought bitcoin in the early days.

[lynn_402]

Well "Believe me" IF I did know about this, back then, and I figured out early enough, about the potential of Crypto Currency, I would have been into this, with everything I had.

I believe most of us here wishes that we have heard of bitcoin earlier and have bought bitcoin in the early days.

I've bought Bitcoins when they were at 10$ and thought they were awesome, but actually used them for commerce. I just wished I would have hoarded half of what I bought

[boymilk]

Ok...

Explain this to me, if I am missing the point here or not.

If I have $100 back in 2009 and I kept it in a bank, I would have received interest.  {insert someone with the knowledge of the average interest rate for small deposits since then} Do the calculation for us, with accumulated interest.

Then I invested the same $100 in 2009 in Bitcoins. What would my returns be in today's valuation?

What would have been the better investment? {Would surely be "Bitcoins"... but with how much compared with accrued interest, month on month}

Let's see, who can work this out, best.

Also keep in mind the interest paid on bank deposits is usually close to the inflation rate so it's possible that your money wouldn't have really "grown" that much, if at all.

[makebitcoin]

You would have gotten a way better ROI by investing in Bitcoin but understand there is great difference between investing and saving.
You can only invest with money you can lose because most investments can lose some or all of their value.
If you are playing with your last $100 you are better up keeping it cash in your pocket.
First build up a nice emergency fund in case you lose your job/income and then invest the excess.

[Kprawn]

My idea for this thread, was to point out to "Newbies" who ask this question, what the difference would have been, if you invested in Bitcoins and what would have happened, if you simply put your money
in the bank.

Some still believe "Compound interest, is still the biggest wonder in the world"

And I also was too lazy to work it out myself.

Would acctually be great, if someone had say "interest rates" for one of the best Banks in the US and they could work out, what the gain would have been, compared to investment in Bitcoins.

We need to shift people's ideas of tradisional systems, with physical proof.

[ranochigo]

The price may suddenly crash, it takes time to confirm the transaction if you are buying from a physical store.
-ranochigo