I don’t know how many of you have made a purchase with Bitcoin but I have and its volatility is ridiculous!
I wanted to order some cabergoline and was having a hard time finding it online. I was able to finally find it from a European supplier that sells pharmacy grade drugs from Europe. The seller offered a discount if the buyer would use Bitcoin for the purchase.
I decided to try and went through the process of setting up an account with Coinbase. My initial purchase was made on Dec 19, 2017 at a rate of $18,657/Bitcoin. I made my purchase and it went thru fine with no issues. Received the product in 21 business days just like advertised. After my purchase, I had some money left over, about $30 worth at the time of my purchase.
Today (Feb 9, 2018) my $30 bucks is now worth about $16. The current rate for Bitcoin is $8690/BTC . That’s a reduction of 69.5% in about 40 days!!
I’m writing this as a warning to my fellow board members that if you intend to purchase something using BTC, you could end up losing money. Also, (in my experience) Coinbase is not really set up to make withdrawals from.