good points already made here, but while there is lots of information about how rendering of margins is accomplished by the browser, the why isn't quite answered yet:
"Why is margin-top:-8px not the same as margin-bottom:8px?"
what we also could ask is:
Why doesn't a positive bottom margin 'bump up' preceding elements, whereas a positive top-margin 'bumps down' following elements?
so what we see is that there is a difference in the rendering of margins depending on the side they are applied to - top (and left) margins are different from bottom (and right) ones.
things are becoming clearer when having a (simplified) look at how styles are applied by the browser: elements are rendered top-down in the viewport, starting in the top left corner (let's stick with the vertical rendering for now, keeping in mind that the horizontal one is treated the same).
consider the following html:
<div class="box1"></div>
<div class="box2"></div>
<div class="box3"></div>
analogous to their position in code, these three boxes appear stacked 'top-down' in the browser (keeping things simple, we won't consider here the order
property of the css3 'flex-box' module). so, whenever styles are applied to box 3, preceding element's positions (for box 1 and 2) have already been determined, and shouldn't be altered any more for the sake of rendering speed.
now, imagine a top margin of -10px for box 3. instead of shifting up all preceding elements to gather some space, the browser will just push box 3 up, so it's rendered on top of (or underneath, depending on the z-index) any preceding elements. even if performance wasn't an issue, moving all elements up could mean shifting them out of the viewport, thus the current scrolling position would have to be altered to have everything visible again.
same applies to a bottom margin for box 3, both negative and positive: instead of influencing already evaluated elements, only a new 'starting point' for upcoming elements is determined. thus setting a positive bottom margin will push the following elements down; a negative one will push them up.