Have you made money or lost money with bitcoin?
By JJ
@JolietJake (50190)
March 9, 2018 7:44am CST
Some people kept telling me to invest in bitcoin back in late 2017 'because the price will keep going up'.
And for a short while, they were right...bitcoin reached $19,343 on December 16 2017.
I kept trying to tell people that it was going to eventually fall again, but most of them kept saying it 'couldn't happen'.
Today, bitcoin is $8,897
Less than 50% of what it was almost three months ago.
In fact, a little over a month ago it slumped to $6,914 on February 5th.
This is one of the reasons I wouldn't want to get paid in btc from a site.
I've seen some users suggest myLot use it to pay.
Maybe they don't realize if myLot did that, what they got paid previously could be worth less than 50% now.
If you earned $5 worth of bitcoin in Dec 2017, that would now be worth less than $2.50.
Myself, I am just staying away from it.
(chart photo from coindesk.com)
13 people like this
16 responses
@JohnRoberts (109845)
• Los Angeles, California
9 Mar 18
I have chipped teeth when I bit coins.
5 people like this
@louievill (28849)
• Philippines
9 Mar 18
It's better than biting the dust, it's tastier

5 people like this
@JolietJake (50190)
•
10 Mar 18
But how else could you tell if they were really gold? 

2 people like this
@JolietJake (50190)
•
10 Mar 18
Dammit, don't edit.
I only saw the edit because I was scrolling through to see if I missed anything. 


1 person likes this
@JolietJake (50190)
•
10 Mar 18
@AkoPinay I kind of wish we would get a notification of an edit, I'm sure I've missed many of them through the years.
1 person likes this
@scarlet_woman (23463)
• United States
10 Mar 18
i don't care for it either.if mylot added gift cards,maybe..but not bitcoin.
2 people like this
@louievill (28849)
• Philippines
9 Mar 18
I'm still up on my bitcoins since I got in when it was 400 to 1,200 usd in a span of around 1 and a half years, so there's still a lot of allowance even if it hits 5k ( of course right now there is psychological loss since it hit over 20k last year but I'm prepared for it)
I had also included other altcoins in my investment portfolio which I got only for fractions of cents but are now worth several dollars or tens to hundreds. For us enthusiasts, btc is already considered jurassic in terms of tech and speed since much better coins are coming out and are worth way way much less so that is where my attention is at right now.
Back to bitcoin, btc should not be treated simpley as currency to buy your everyday coffee or pizza but rather more of a digital asset like our gold necklace or bracelet that we sometimes just forget in our vault to wear later, pawn or sell when we need it, or we would buy more jewelry to add to our stash or wardrobe depending on how we treat it.
I agree with you, crypto currency is not for everybody, it takes time, research and dedication, a lot got burned getting in simply because of the hype without knowledge and most had a fat wallet to spend and start with lol, they buy in when it's peaking and cry scam when the price drops without taking time to interpret and learn graphs, bearish turns, bullruns, resistance points etc...
Everything said I think in or out is an individual and personal choice.
2 people like this
@JolietJake (50190)
•
10 Mar 18
Coming in when it was very low like that likely hasn't hurt you any, but myself I messed with 'mining' for a few and then walked away from it
@FourWalls (76770)
• United States
10 Mar 18
I've made lots of money on bitcoins....by steering very clear of them and not investing in a fool's paradise.
1 person likes this
@JolietJake (50190)
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10 Mar 18
I know some people probably made out like bandits if they got in at the very beginning, but I don't care if they are bandits or not, I don't wanna watch people make out 

1 person likes this
@LadyDuck (479166)
• Italy
9 Mar 18
I do not want to be paid in Bitcoin, I want to be paid in a legal currency, dollars are fine, they are traded internationally and I can ask PayPal to change the dollars into my currency. The fluctuation is never more than 5%. I wait to change when the dollar goes up.
1 person likes this
@teamfreak16 (43418)
• Denver, Colorado
5 Apr 18
I don't even know what Bitcoin is, honestly.
1 person likes this
@thislittlepennyearns (64798)
• Defuniak Springs, Florida
9 Mar 18
I have probably about three dollars in bitcoin.
1 person likes this
@1hopefulman (45113)
• Canada
9 Mar 18
I live on on a limited retirement pension and can't play with my money like I used to when I was working. I did many investments, some good and some bad when I was working but now I have to be happy with what I have and so I can't take any chances. Good or bad, I stayed away from Bitcoin.
1 person likes this
