Has anyone here actually made money from Bitcoin?

[ansible]

I can't make up my mind on this thing, what's the DU consensus towards it?

[underpants]

1. Interested to find out.

[viva la]

2. I think you missed your chance.

If you're going to go for crypto, btw, there are much more environmentally friendly options.

https://www.thetimes.co.uk/money-mentor/article/eco-friendly-cryptocurrencies/

[Sherman A1]

3. Zero interest in thing

With no expectations of that changing.

[Hugin]

5. I'm with you here.

I try to avoid things which are easy to buy and difficult to sell. Such as tulips.

[jmbar2]

4. The long-term chart is not promising

https://finviz.com/crypto_charts.ashx?t=BTCUSD&tf=w1

[Effete Snob]

6. Bought $500 in December

When PayPal made it an option, I figured there would be a lot of buying, so I tossed in $500 and some change. That stake went up over $1200 earlier in the year and is now at $814.

I should probably just take my initial $500 out, but who knows, maybe there will be another spike in the future, or inflation jitters, or maybe it just collapses.

Never play with more than you can afford to lose.

[brush]

16. Why not take your initial investment and your profit and wait for the next significant dip...

since you now know what the low is?

[lame54]

7. Block-Chain...

Sorry, I just wanted to sound like I know what I'm talking about

[Hoyt]

8. Seems risky, but clearly people have done well.

Bet some folks end up holding the bag at some point.

I think I’ll just let younger folks “invest” in that stuff.

[3Hotdogs]

9. If ya don't understand it, don't do it. And,

I don't understand it.

[WhiskeyGrinder]

10. The kid of a friend of mine is paying quite a bit of his college tuition from it. But he got in on

it years ago. It's a bubble that's passed.

[Journeyman]

11. Yes, I have. Every dollar I've kept out of it I count as a dollar saved. I've saved a fortune . . .

between staying out of Bitcoin and not plunking money into Ponzi schemes.

YMMV but I'm reluctant to sock money into schemes and scams that seem more at home in a carnival midway.

[Quixote1818]

12. They try to market it like gold but it's really not like gold

I call it the Seinfeld investment. Instead of being a show about nothing, it's an investment in nothing. Pure speculative investment that could possibly go to zero. The only way it totally takes off for good is if it replaces regular money which it wont.

The most any real legitimate investor will put in it is 10% (they admit it's a big risk) and most just completely avoid it.


Here Are 4 of Bitcoin's Biggest Critics
by Emma Newbery | June 9, 2021

https://www.fool.com/the-ascent/cryptocurrency/articles/here-are-4-of-bitcoins-biggest-critics/

Warren Buffett
Peter Schiff
Paul Krugman
Bill Gates

[Earth-shine]

13. I know of someone who made about half a million dollars from bitcoin, and then ...

lost his password, so he can't access it. There is no recourse.

This person is well-known technology podcaster Leo Laporte of tech.tv.

[Quixote1818]

14. Yes, and another person threw away his computer that had his bitcoin info on it and lost everything.

It had gone way up but there was nothing he could do about it.

[ansible]

17. Could be worse, this guy forgot his password to $220 million

https://www.businessinsider.com/bitcoin-owner-who-lost-password-made-peace-potentially-huge-loss-2021-1

[Johonny]

15. I know people that have

but I've not

[FrankChurchDem]

18. I run a mine

Do quite well. Lots of cheap hydro power.