How much money did you gain/lose in crypto?

Nvidia Brouwer

Feb 27 549 Comments

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As the dust settles and we’re doing taxes, curious what peoples’ experiences have been in the great crypto boom and bust of 2017-2018!

Also bonus: did you mine or buy?

Me: ~-$100 in “play” money via buying

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TOP 549 Comments

LinkedIn dkdkd
200k
Feb 278 7
- Nvidia Brouwer
  OP
  Winner right here 😅
  Feb 272
- LinkedIn dkdkd
  Forgot - sign.
  Feb 2716
- Nvidia Brouwer
  OP
  😭😭😭
  Feb 275
- LinkedIn cnshsiwk
  Lol
  Feb 272
- Amazon / Designpiratekingmore
  I think I need to get job at LinkedIn
  Feb 273
- Amazon Izzypop
  Oh man- that went from hero to zero real quick....
  Feb 273
- Google Rly?RLY!?
  This thread was riveting.
  Feb 272
Microsoft CastleRaid
1.8 million. Bought 2010. Sold early Dec 2017. Hired a CPA. Got the right paperwork. Paid Uncle Sam my dues. Still read about it but don’t invest. Was never in it for the greed. Just loved the early enthusiasm. Too much noise now.
Feb 2727 2
- Microsoft huiii
  Wow, congrats. Great timing
  Feb 271
- Microsoft CastleRaid
  Thanks. Just got lucky. I sold at 16,900+. I think it went to 19K+ two weeks after that.
  Feb 282
Amazon OlAl28
Nice try IRS
Feb 2725 0
This comment was deleted by original commenter.
- Microsoft LqIR76
  Damn. baller
  Feb 270
- Tesla / Otherh4hcxey3
  Whoa. Are you still working for funsies or traveling around the world surrounded by Insta models?
  Feb 270
- Snapchat redsocks
  Holy cow
  Feb 270
New holler
+$306,254. Got in very early. DCA on the way up over the years. Sold everything Dec 15 2017. I treat it like lottery winnings and keep it anonymous. Nobody around me knows.
Feb 2715 6
- Google / EngMr Glass
  Why not buy a house with it?
  Feb 271
- New holler
  I have a house already (3000sqft at $250k). I'm happy with my life as-is. I've watched others spend their earnings and return to broke. I'm not interested in exhausting my FOF (fuck-off-fund).
  Feb 274
- Amazon / Designpiratekingmore
  Except us ... :D
  Feb 272
- Google / EngMr Glass
  But why not invest it
  Feb 270
- New bvram
  Great. I sold too early and only made $2k
  Feb 270
- New / Englzf66
  Mr Glass, he already answered your question once.
  Feb 270
Microsoft PggR83
$2m through mining. Sold at peak. Retired now
Feb 2714 4
- Walmart.com QTFP86
  You mean you lost 2mn and retired then?
  Feb 272
- Nordstrom Nepotism
  Time to give up your Microsoft blind access if you're retired then. Byeeeee
  Feb 275
- Walmart.com QTFP86
  That sound so xutiyapa in bluff too
  Feb 271
- New / Products108more
  Don’t think you can retire on $2m unless you live in Idaho
  Feb 270
United Wholesale Mortgage zpyM13
I mined bitcoin around 2011 and found my wallet after years of forgetting about it. I made about 168k
Feb 2720 1
- Amazon OlAl28
  Fuck you
  Feb 271
Optum / ITzkzkzkzk
Well, I got goxed and lost 118 bitcoins... you can do the math
Feb 2814 3
- Facebook / EngEntBlind
  How so?
  Mar 10
- Microsoft CastleRaid
  Mt Gox. Look up its history.
  Mar 34
- Microsoft / EngMgIr74more
  Ouch.
  Mar 221
Salesforce / Engcorgos
$3MM. Eth ICO and pre-gox BTC, mostly mined via LTC. Flipped a bunch of small caps during the bullrun in 2018.

I paid all my taxes as well.
Feb 279 6
- Microsoft nonillion
  +1 for paying taxes
  Feb 272
- Amazon OlAl28
  Why the fuck are you still working at Salesforce?
  Feb 270
- Bloomberg bbg86
  Remember, you are on Blind.
  Feb 275
- Google JqBx48
  $3 MM buys you a decent house. There's food, children and living costs after that. Not everyone wants to FIRE wilth $40k per year.
  Feb 272
- Twilio / Engtwlo
  Safe inflation adjusted withdrawl rate on $3M is $105/yr, not $40k JqBx48
  Feb 270
- Amazon OlAl28
  And not all of us want to retire in the bay area
  Feb 280
Bain & Company ioAl18
-$4.5M, had to start working again..
Feb 2714 5
- Nvidia Brouwer
  OP
  Sorry to hear brah
  Feb 270
- Expedia Ytdj51
  Wow, i feel really bad now. Did you go all in or something?
  Feb 271
- Microsoft / ProductBrazukamore
  What? Nobody's that stupid. especially a Bain partner.
  Feb 271
- Microsoft huiii
  Seriously?
  Feb 272
- New satoshii
  I lost moar.
  Feb 280
Ripple lsiefsja
Down 100k... Practically catching the falling knife
Feb 274 4
- Expedia Ytdj51
  Oof and you work for Ripple? Did you sell or just paper loss?
  Feb 271
- Ripple lsiefsja
  That's precisely the issue. The more I'm working on it, the more I believe in the tech. But alas, bear market
  Feb 272
- New LGwK11
  Good to know Ripple is hiring the best and brightest lmao
  Feb 278
- Adobe / Engabcdxyz123more
  What is the use of ripple’s tech. Anyone using it for real?
  Mar 10
Microsoft plftkb
+$650k. Out in Jan 18. Bought back in Jan 19, hodling through 2023. Oct 2023 will be the next BTC peak (but don't buy BTC) at $163k/BTC. You heard it here first
Feb 276 15
- Microsoft plftkb
  Market cap. Find public ledgers that target Enterprise use cases. Fiat isnt going away. I'm not shilling my own investments because (circular) I'm not a shill. Reiterating: I couldn't care less what you buy or don't buy. OP posted a question and I answered
  Feb 270
- New LGwK11
  Shilling is all about intent. There were tons of coins that claimed enterprise partnerships that are now trash. You have to be more specific, or not at all.
  Feb 270
- Microsoft plftkb
  Actually I don't have to do anything. I'm heavily invested in 2 projects, above all I want them to see organic adoption. I have no interest in being the advertisement or their freelance marketer.
  
  Partnerships != Working code achieving Enterprise requirements
  
  Partnerships != Deployed POCs
  Feb 271
- New / Engjo2305
  Large players already have enterprise solutions. IBM has hyperledger, Azure/AWS have their own consortium Ethereum cloud, R3 Corda, Walmart Labs, etc. What makes you think some small project will make a difference in an enterprise use case, when the bigger players already have existing solutions and the best connections in the market?
  Feb 270
- New LGwK11
  Ohhhh nooo @plftkb is heavy into eos
  Feb 270
- New LGwK11
  Or tron. Either way makes me vomit in my mouth a little.
  Feb 270
- New LGwK11
  @jo2305 yes but most of those aren't public ledgers.
  Feb 270
- New / Engjo2305
  I don't think large corporations would want all their supply chain data broadcasted on a public ledger. Public decentralized ledgers certainly have their use cases but I don't think 'enterprise' is the right adjective here
  Feb 270
- Microsoft plftkb
  Wrong and wrong. The two coins I'm in aren't in the top 100 mcaps on CMC. There's your hint. But since you mention EOS, I can't be clear enough: fuck that junk.
  Feb 270
- Progress / EngNullRefExmore
  ±10k all earned through fast micro transactions with a ton of different CCs (Binance). I used large value purchases and sells to make small variance worth the time. Sold Eben at the time ETH was just over $1k. (my Coinbase report looks like a mess, a frenzy of transactions)
  Feb 280
Microsoft MSFTHR
0. Not dumb enough to gamble on something imaginary.
Feb 273 5
- LinkedIn tendies
  Cringe
  Feb 274
- Microsoft nonillion
  You're so cool and smart and we should all strive to be as smug in hindsight as you. Thank you you wonderful wonderful soul.
  Feb 277
- Amazon / EngjC2w0x
  I understand some ppl don't want to take risks, but if you think crypto is imaginary dumb thing, you are really dumb...
  Feb 270
- Cisco drh787
  Same. But more simple. I just don’t invest in something I don’t understand the value of.
  Feb 270
- New sizuu
  Because other money like dollars can be found in nature?
  Mar 20
Broadcom Ltd. honestkid
You should not waste your money in crypto. You buy hoping that next person will buy it higher. So probability of crashing it increases as its values increases.
Feb 274 2
- Expedia Ytdj51
  You mean like every other asset?
  Feb 278
- New satoshii
  Sigh. You sound like Buffet.
  Feb 281
Microsoft / SalesSudoCode
You don't lose money if you never sell...👉🏿😏

I'm negative on LTC, bought around $250/coin
Mar 30 6
- Amazon / Engn0v
  You lose money the moment you buy. Trading cash for worthless figments of mathematics. Hoping to find a bigger fool before the tower of cards falls down.
  Mar 33
- Microsoft moramba
  > worthless figments of mathematics
  
  3edgey5me
  Mar 53
- Amazon / Engn0v
  Like buying tulips between 1634-1637
  Mar 52
- Microsoft moramba
  Scarcity == value. Engineers should take more 100lvl finance classes in school
  Mar 52
- Amazon / Engn0v
  Toxic waste is scarce and not valuable. Water is not scarce, yet extremely valuable.
  Mar 61
- Microsoft moramba
  Don't tell wall st
  Mar 60
IBM 👌🏻🥛⛄️
Bought 20 bitcoins at $8 a pop back in 2012 and spent them all on silkroad.
Feb 2811 1
- New SuperSlime
  yay drugs!
  Apr 200
Amazon / Designpiratekingmore
40K
Feb 274 4
- Amazon / Designpiratekingmore
  I'm in unrealized loss though :) To da moooooonnnnn 😂
  Feb 276
- Nvidia Brouwer
  OP
  Dogecoin FTW!
  Feb 270
- Amazon / Engeisenhwrmore
  Hodl!
  Feb 270
- Google / EngMr Glass
  HODL!!!
  Feb 270
IBM OVFn18more
+8m got into btc in the mtgox days
Feb 285 7
- New / Engbluejortsmore
  Rip mtgox
  Feb 280
- Nextdoor / MktgZ5gk3z
  😂 sure
  Feb 280
- Microsoft plftkb
  It's very realistic. $550 investment at $100, sold at $15k nets $8m. I wish I did that lol
  Feb 280
- eBay FdUz56
  Yeah with 5500 not 550
  Feb 280
- IBM OVFn18more
  I’m not some master trader or anything. I bought a few hundred worth when it was ~30c mined more when it was possible with gpus. Ended up with about 3k btc. Sold a ton early on and liquidated the whole stack when it was sub $7k
  Feb 282
- Verizon Media llllIII
  You must be that 0.1% that actually made it and makes everyone want to invest. Congrats. Couldn’t you just retire and live off of investment of that money for rest of your life? You could get like 100k no problem per year! Live like a king in mid US
  Feb 282
- New / Engjo2305
  Do you think there will be another bull run or is it all over? You liquidated your whole stack but will you ever buy BTC again?
  Feb 280
SAP ChaiWallah
I was up almost $600k, took $10k (my cash invested) off the table. Still up $70k, not counting what I took out
Feb 275 6
- Fair.com / EngTpWD16more
  Similar here!
  Feb 271
- Xchange Leasing / OpsAL1337more
  Hi fair friend
  Feb 271
- Google / EngMr Glass
  Ah the sweet lessons of greed!
  Feb 271
- Fair.com / EngTpWD16more
  Xchange Leasing! Hi!
  Feb 271
- Wolters Kluwer gtUY05
  Lucky
  Feb 270
- Xchange Leasing / OpsAL1337more
  What team are you on? Fair friend
  Feb 270
Spotify smrtrchild
Mined 30 btc in college (2011-2013). Sold them for <10 bucks each for beer money. Most expensive beers I've ever drunk.
Feb 279 2
- LeanTaaS ♥️ data
  You must be still high :)
  Feb 280
- Microsoft CastleRaid
  I remember someone paying 10K BTC for a pizza. It was in 2009 I think.
  Feb 280
TEKsystems nvpx34
Was early in BTC, mined as well, still have over $400k, down from peak of 1.2 mil. I've lived through $1 to $32 bubble, $5 to $140, $70 to $1300, and now $400 to $20k, just hodl
Feb 278 1
- Amazon / Designpiratekingmore
  Best advice ever.
  Feb 271
Airbnb zmil37
Started in 2017 with 20k. At peak my portfolio was worth 500k+ in Jan 2018. I even paid ~10k in taxes for 2017 crypto to crypto trades. Stupid me didn’t sell ANY into USD. Now my portfolio is worth 14k or so. :^) expensive lesson learned.
Feb 277 1
- AT&T / Salesef4515
  My eyes hurt after reading this :/
  Feb 272
Amazon / Engn0v
None. Why would I waste money on some ridiculous digital currency with zero intrinsic value.
Feb 279 1
- Facebook uRGX22
  🤦‍♂️
  Feb 270
Facebook ❤️❤️❤️
+$300. I invested zero money, but got 10$ worth of free Bitcoin from coinbase for signing up which is now worth about 300$
Feb 278 1
- Cohesity weeii
  When year did you sign up
  Mar 10
Leanplum blings
I'm ~100k up.
At its peak, I was about 600k up.

Didn't cash out at the right time, but still did well overall.
Feb 276 1
- Google dpdjiax
  Ah that's terrible! That's a quick half million lost. Could have bought half a house here
  Feb 272
eBay / EngNimple
560k.
Feb 288 0
Veritas tadh
-5000
Feb 278 0
Box NPjN02
$10k
Feb 277 2
- Amazon Izzypop
  Nice!
  Feb 270
- Microsoft jaXF05
  Win or loss?
  Feb 270
Bank of America / Otherdev/random
Bought $10k of BTC when it was at $325.
Feb 277 1
- Shopify / Mgmti38ge4angtmore
  nice move
  Feb 270
Boeing iHfS07
Got $2.50 from someone on reddit in 2013. Topped out at $400. Sitting at around $150 now. Idk what I'm doing or how to use it 🙂
Feb 277 0
Intuit z9nkay
Infinite returns. I bought none but got some for free when I signed up for Coinbase.
Feb 277 0
Microsoft BarFoo
I have a whole tray full.
Feb 277 0
Aon Hewitt helloooo1
Anyone buying ripple now?
Feb 280 6
- SAP ChaiWallah
  Hell no
  Feb 281
- Veritas I’mTired
  Well, Coinbase just added XRP a few minutes ago. Buy the bounce! Lol
  Feb 281
- New jlijlfd
  No.
  
  If banks wants something to for payment solution, they will use stable coin not something can drop 50% in price in few seconds
  Feb 281
- Uber œ
  Stellar over ripple.
  Mar 12
- Microsoft plftkb
  JPM coin was the first nail in XRP's coffin. Ripple is trying to sell banking software. Banks will build a consortium of their own coins available to them and institutional investors. Ripple is dead in the water and the tokens have always been worthless.
  
  Pets.com was a $300m company at one point.
  Mar 11
- Visa FoffBoy
  even visa has a blockchain solution they're trying to gain momentum with for cross border b2b payments
  Mar 50
Hubspot / Biz Devhubspotmore
+1.2mil. Eth, Xrp
Feb 275 6
- Qualtrics IgKu64
  When did you buy and sell
  Feb 270
- Hubspot / Biz Devhubspotmore
  Bought Eth at $8. Sold at ~$570.
  Feb 271
- Providence Health & Services S-PgM
  If you used TurboTax, I can't imagine your reaction when you see the amount owed shows up.
  
  Edit: own/owed.... I can't engrish
  Feb 270
- Hubspot / Biz Devhubspotmore
  The amount of taxes I owed on April 15, 2018 was upsetting.
  Feb 270
- Wolters Kluwer gtUY05
  No way to fool IRS, maybe cash out in a tax heaven like Belize are you an American citizen? How feasible is this approach?
  Feb 270
- Hubspot / Biz Devhubspotmore
  Too risky to try @s-pgm
  Feb 270
SAP ChaiWallah
Question to those still invested: did any of you take the losses for tax?
Feb 283 5
- Amazon iwkP83
  Yes I did, almost doubled my tax return
  Feb 283
- Xchange Leasing / OpsAL1337more
  How do you take losses fortax?
  Feb 280
- PayPal yarcg
  I did too
  Feb 280
- Amazon iwkP83
  1099b
  Mar 10
- RetailMeNot three mice
  Sold everything for ~17k loss. Harvested the loss last year to offset some capital gains
  Mar 50
Google UFRU87
+$2.5M before tax. $1M tax bill. Still can't buy a decent house around here 😒
Mar 16 4
- Nvidia Brouwer
  OP
  Nice! Prices so high. Can always retire/move to a non VHCOL area as one option
  Mar 20
- Visa FoffBoy
  probably reflects why you work at google lmao, nice job
  Mar 50
- Nvidia Brouwer
  OP
  Btw @UFRU87 did you mine, buy low, or something else?
  Mar 50
- Amazon manduckpig
  You pay taxes for crypto?
  Mar 70
Macquarie Nooob
Lost 400k but have been buying and have a position of around 700k now
Feb 276 3
- Amazon / Designpiratekingmore
  Nice. What are you trading in and out of?
  Feb 270
- Clover Network iaJT60more
  Position does not mean profit though right?
  Feb 270
- Uber / EngRqwx5omore
  He'll be -600k by the end of the year
  Feb 280
AngelList sFlp34yfee
Made 500k
Feb 276 3
- Apple shnndyhsh
  This must’ve been all about the timing right? Bought in at a low point, and sold at one of the highs yeah??
  Feb 270
- New bvram
  Awesome
  Feb 270
- Amazon / MgmtDayWon
  Isn’t that how making on any investment works?
  Mar 10
Microsoft huiii
I bought 0 so 0 loss and 0 gain. I feel sorry for those who lost much money and happy for the guys who made a lot.
Feb 276 0
Centene Kvasir
It’S nOt A bUbBlE gUyS
Feb 276 0
Quicken Loans whatabtbob
Zero... it was too bubbliciously stupid.
Feb 276 0
Oath mail+home
Made 500k. Bought a home. Now worried about paying taxes.
Feb 275 13
- eBay / ITmanoramamore
  @CastleRaid - how are rules affected as you mention it is considered as property ? It is still long term capital gains ?
  Feb 280
- Wells Fargo / Engostrich1
  It is considered a capital gain or loss in the eyes of the IRS so those rules apply.
  Feb 280
- eBay / ITmanoramamore
  But those rules is exactly the same as stock . So what is the differentiating factor when you said about treating it as property versus a stock ?
  Feb 280
- New LGwK11
  It's not exactly the same. I'm not a cpa and this is not advice, but you can manipulate the tax burden by how you claim fungibility of the coins. E.g. FIFO vs LIFO or whatever.
  Feb 280
- New LGwK11
  Also, wash trading is legal. Even though most exchanges claim it breaks their TOS.
  Feb 280
- eBay / ITmanoramamore
  Wash trading was always legal . It is just that you don’t get tax benefit on those for claiming tax loss harvesting
  Feb 280
- eBay / ITmanoramamore
  Tax burden can also be calculated for stocks in same manner like FIFO or LIFO , hence asking what is difference
  Feb 280
- New LGwK11
  Nah fam, the SEC does not let you wash trade.
  Feb 280
- Microsoft CastleRaid
  I don’t remember what the difference is because it is considered property. I let CPA handle and file everything.
  Feb 280
- eBay / ITmanoramamore
  @lgkw11 SEC does allow wash sales . Refer https://www.schwab.com/resource-center/insights/content/a-primer-on-wash-sales
  Feb 280
New kazaam
Peak was at $1.7m. Now back down to $33k, lost ~$25k
Feb 275 4
- New / Productnicebotmore
  What led to losing it? Messed with dumb alts during the peak?
  Feb 270
- Wolters Kluwer gtUY05
  Why didn't you took it out at 1.7M? Greed?
  Feb 270
- New kazaam
  Greed it was! Then also messed with some upcoming alts on the way down, now those are worthless!
  Feb 280
- PayPal GkNQ32q
  Did you at least take screenshot ?
  Feb 280
Facebook Fffffffffd
-250000 mining and buying
Feb 273 4
- Yahoo Pointsetta
  Like you invested 250k or u made 250 and lost it all
  Feb 270
- Activision Blizzard others
  U got money ur at Facebook
  Feb 270
- Facebook Fffffffffd
  I invested $600k and lost $250k. It made me sick to my stomach
  Feb 271
- Activision Blizzard others
  See guys this is what too much leetcode does to your brain .
  Feb 271
Apple sjsbdwqaii
0 as I’m still HODLing hard
Feb 273 1
- Microsoft / ProductBrazukamore
  Lol, you lost then
  Mar 32
This comment was deleted by original commenter.
- IBM tAhj86h
  Yeah IRS, this is the guy right here
  Feb 272
New spacechase
Can't lose unless you sell low
Feb 275 1
- Facebook wazzupp
  Lol
  Feb 270
Microsoft pappa
Anyone who has bet their professional life/career on bitcoin? 😊
Feb 275 0
Salesforce Peednasper
-20k😞😞
Feb 275 0
Quicken Loans QOQj36
If you are still hodling your crypto/btc, and you're saying you're at a loss, perhaps you dont understand the purpose of crypto
Feb 275 0

Do I need to report crypto info if I’ve lost money overall?

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How much money did you gain/lose in crypto?

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