I started buying bitcoins back in summer of 2013. I was so excited by this new technology and when the price shot up in November, my excitement became contagious. My brother bought a bitcoin for $1000 from me, my mother asked me to buy her one too also at $1000, my niece bought a tenth for $100, my boss bought a few from coinbase, a co-worker bought a few dozen or so until the price dropped to $800. He died about a year later and his family threw away his computer. So those were all lost.
I continued buying in 2014 and then spent a bunch early this year to take care of some things. Anyway, I went over my buys & sales, and discovered that my remaining couple dozen bitcoins cost me around $500 each, despite my use of cost averaging. And I know I did much better than all the people that I know who started buying later than me.
Now I am ashamed to even mention Bitcoin. Everyone I know has lost money and a lot of it. If they ask me about it, I refuse to talk about Bitcoin.
Don't get me wrong, I still love the concept. I am sure the technology will take off in a decade or two. I even use it to send money overseas (using bitpesa) and to fill phones (using bitrefill) all the time.
Anyway, just curious to hear how you all deal with the bitcoin shame from friends & family.
I continued buying in 2014 and then spent a bunch early this year to take care of some things. Anyway, I went over my buys & sales, and discovered that my remaining couple dozen bitcoins cost me around $500 each, despite my use of cost averaging. And I know I did much better than all the people that I know who started buying later than me.
Now I am ashamed to even mention Bitcoin. Everyone I know has lost money and a lot of it. If they ask me about it, I refuse to talk about Bitcoin.
Don't get me wrong, I still love the concept. I am sure the technology will take off in a decade or two. I even use it to send money overseas (using bitpesa) and to fill phones (using bitrefill) all the time.
Anyway, just curious to hear how you all deal with the bitcoin shame from friends & family.
I'm sorry because of your very bad experience with bitcoin.
It's not easy when you are so inspired with something and recommend it to your family and friends and later you feel ashamed
due to poor performance and loss.
I had such experience a few times in my life and now it's really difficult for me to recommend anything to my relatives and friends because they don't trust me anymore.
All of these things on the Internet, no matter how good looking, are always risky and we should be very careful before investing any money.
I learned that the hard way.
The best solution is to never include your friends in such risky things and always try alone.
In such way, only you can lose money and friendships are preserved
