I just read this story on The Guardian and had to sigh. I expect better from this paper, but not all journalists are equal. They are just human.
The guy invested about £23,000 in Bitcoin in early 2017 and by the end of that year is was worth more like $1.2 million. Not sure why they don't show it all in pounds. So when Bitcoin lost 80% of its value he still pretty well off and he'd spent a lot, including donating to a hospital.
I noticed that he wanted to buy his local soccer club, Bedford Town. He must be from my area as that's where I come from.
He's okay as he had other income and seems to be okay. I feel for those who got so caught up in the hype that they borrowed money to buy crypto at the peak. They will have ended up with serious debts that could ruin their lives.
By this logic I lost $95,000 on Steem as mine was worth $100,000 at one point, but I never really had it as I would have had to power down and the value would have dropped by then. It would have been nice to have, but I didn't really need it at the time and decided to leave it in. I've invested about $100 in Steem, plus many, many hours of my time. I get more out of it than just money. Money buys stuff and not necessarily happiness. It did buy me trips to Steemfest, which were such cool events.
This is why I think Steem should succeed. It's not just about money. Billions of people use social media because its fun and they don't expect to make a cent from it. It's an experience and a part of our lives now. To show it's not just about money I'll decline rewards on this post. I want your comments, not your votes on this one. I also won't be voting on those comments as I need to recover my voting power. I did more delegations, so my vote is way down.
Steem on!
- I'll buy guitar picks for Steem
- Get a Wirex Debit Card to spend your crypto.
- Get some passive income with Mannabase
- Get paid to search at Presearch
- Battle for cards on Steem Monsters