Topic: I spent all my saving on bitcoin, now i am broke - page 16. (Read 25417 times)

My pocket money perhaps? Different folks have different monthly budgets so losing a couple hundred bucks into Bitcoin may not be such a big problem for some people while for others it could have been a disaster. But anyways spending all my savings on Bitcoin would be madness as my wellbeing will depend on luck and I don't want to end up poor just because I wanted to be rich in the first place  Also I don't even fathom how some people are okay with withdrawing their pension fund to invest into Bitcoin  I have seen these madmen on other websites as well.

Bitcoins is just like an investment,  We are not obligue to put all our savings into Bitcoins.
better for us to be wise.

My pocket money perhaps? Different folks have different monthly budgets so losing a couple hundred bucks into Bitcoin may not be such a big problem for some people while for others it could have been a disaster. But anyways spending all my savings on Bitcoin would be madness as my wellbeing will depend on luck and I don't want to end up poor just because I wanted to be rich in the first place   Also I don't even fathom how some people are okay with withdrawing their pension fund to invest into Bitcoin   I have seen these madmen on other websites as well.

you should put how much you can afford to lose without affecting your life at all.  

Should i follow suit and dump all my fiat savings into bitcoins?

He is broke when he posted it. But now he got a few profit from it. It is almost doubled at the price now so it is an idiotic way at first but he risked it all for this future. He is a winner now.

That is such shame you dont need to use all of your money to spent into bitcoins idiot. Dont you learn that on school dont invest all of your money that will go bad.

Yes our current "paper" money is better material as the woodpulp paper we use to write and type on. The "paper" money is actually a combination of cotton, linen and synthetic fibers (before WW1 the fibers were made of silk), and is quite durable. Using only paper (woodpulp type) is very risky. Multiple backups, different media types and location spread of storage of it is best imo.

That is such shame you dont need to use all of your money to spent into bitcoins idiot. Dont you learn that on school dont invest all of your money that will go bad.

well i have good news or bad news, this week i took out all my saving from my bank 3500 and bought some bitcoin

i now have a total of 6 bitcoins,   


last night i bought 5 usb sticks and 2 waterproof boxes,  i put the box inside of the other box then the 5 usb sticks in the middle of the box,  afterwards i went into my backyard and dug a hole underneath the bird fountain,

i dug the hole almost 3 feet under. Then i buried it back and placed the bird fountain back. 

The bird fountain has been in the same spot for many years so i am not worried about forgetting where i buried it, and grass doesn't grow underneath it.

so there we have it,  I buried a total of 5 bitcoins, i plan to keep it there for 20 years. The 5 bitcoins cost me about 2300USD


The 6th bitcoin i keep it on my cellphone and i plan to spend it online,


Now i only have 100 dollars left in my bank,  i am basically broke,  my whole saving gone!


Was this a bad idea?   after i buried it i was starting to feel like it was a bad idea,   

i also did not put a hard password on it because i thought i would forget


but i wasn't planning on using my saving for anything, and the bank doesn't give me any interest for it,

i've never invested in anything , possibly because i don't have much money


anyways.. it's just money.. i'll save some more

i figure in the future, it might be way too expensive to own even 1 bitcoin,



i am now a proud owner of 5 bitcoins


this is my bitcoin story,


here are some pictures of the box and bird fountain, its not the exact ones that i own but similar

It is not necessary to be in 20 years. if the bitcoin is very popular, in 10 years, the price will be 250,000 dollar each.

it was mentioned in one of the first pages and argued a lot.

the important thing about cold storage is to make sure you have multiple backups from it so in case one was lost/damaged/... you have the option to recover the funds. and it doesn't matter what method you use. even paper wallet can be damaged.