I spent all my saving on bitcoin, now i am broke - page 26.

btccashacc

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Quote from: chek2fire on May 11, 2016, 07:51:59 PM

you are not broke.. you still have money.. 6 Bitcoins

Your six bitcoin will be worth 6k Dollars, if the price hit 1k dollars again, i personally save my own bitcoin for long term investment, i trully believe that bitcoin's price will be skyrocket,
at least after halving you will gain some profit, thus you are not broke actually

relq

sr. member

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Just don't go all in invest all our money into bitcoin, better saving some of your money. Saving on bitcoin in USB still have a risk though, many people on this topic already mention about the power.

chek2fire

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you are not broke.. you still have money.. 6 Bitcoins

npredtorch

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Quote from: DaddyMonsi on May 10, 2016, 11:17:53 PM

20 years from now those USB sticks might be obsolete just like those floppy disks that we thought are the way to the future but now it's just a collectors item but then again someone can still get those information even if they are not use just like those guys who's job is to transfer data from an old Betamax or VHS to CD or USB.

Come on people, for those who said that USB sticks will be obsolete and being not functional after 20 years , please don't make it complicated. He just said that he plans to get it after 20 years , everything is okay, cause ANYTIME he could dig and take it in the soil in his backyard under the birdbath and transfer the btcs before the USB sticks become obsolete. IKR Roll Eyes

Superbitzz

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i suggest you not to do so just for security measure. i think we should be careful bucause there is always a chance o breaking the stick so be careful and try to use USB and some thing else.

Doms

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I read in one of the boards here that USBs tend to lose power after a few years of inactivity, rendering it useless after a couple of years. Better think of better ways to store them BTCs. You aren't broke as you still have $100 and you can still save. Only time will tell whether your decision to bury your BTC (at current prices) is right or wrong. But since time is on your side, and you still have other means of income, you are not doing bad at all.

Hazir

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Quote from: Baby Rage on May 08, 2016, 04:04:35 PM

Quote from: Jannn on May 08, 2016, 03:47:07 PM

Did you put one bitcoin on each stick? What if they break? What if they all stop working after years? Why use USB and not paper?

paper would probably have been better. in 20 years we may not use usbs, but i am sure they will always be paper wallets. but good luck to you

It is not that these USB sticks are buried forever. If Op will be alive and well he can always dig out these if USB sticks - if he realize that USB standard is dying.

The most important is fact that storied data could potentially last for many years, but a USB drive could lose its data within months if left unpowered!

DaddyMonsi

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20 years from now those USB sticks might be obsolete just like those floppy disks that we thought are the way to the future but now it's just a collectors item but then again someone can still get those information even if they are not use just like those guys who's job is to transfer data from an old Betamax or VHS to CD or USB.

specown

newbie

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That is definitely the most craziest investment I have read this week. I hope that your 'waterproof' cases will not degrade over the years as you would be in trouble.. Also, don't forget to dig up your bitcoins if someday you will sell your house or it will look kinda creepy if a guy is digging under a fountain for a treasure - 5 usb sticks.

Wendigo

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First I would like to congratulate you on being brave and withdrawing all your savings in the bank and investing that into Bitcoin. I think you have the chance to earn a lot more now than waiting for a tiny interest rate or in your case nothing at all. Actually I like your idea of hiding the private keys in a very unorthodox place that would not attract the attention of thieves. The bird fountain location is probably the last place one would look for something valuable as opposed to a concealed safe in your living room.

yayayo

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You have courage. And courage sometimes leads to rich reward, especially if you're still young. But please - as others have pointed out - don't use USB sticks for longterm storage!

I don't know if I would have done the same if I was in your place. Of cause it was not a mistake to buy Bitcoin, but hopefully you do will not have an emergency situation where you might need the funds in the near future. I'd suggest from now on, you should save a bit of cash for that case. Saving cash can also be done without a bank (hard cash) - as you correctly pointed out, you will earn no interest but only risk confiscation of deposits.

ya.ya.yo!

slaveforanunnak1

hero member

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don't just use USB!!!! come on man!! who knows what will happen to that USB after 20 years. I would write down on a piece of paper with pencil and two different pens and two different kinds of paper just in case!!!

raphma

sr. member

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not a good idea...
https://bitcointalksearch.org/topic/do-not-use-usb-sticks-for-long-term-storage-its-not-safe-1466206

I would be digging if i were you...
Just print them, buy a vault or go to the bank.

bitbunnny

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Quote from: Pursuer on May 10, 2016, 08:29:28 AM

Quote from: whored on May 09, 2016, 08:44:07 AM

Quote from: Y.Job on May 09, 2016, 08:36:54 AM

Quote from: whored on May 09, 2016, 08:33:36 AM

Quote from: Y.Job on May 09, 2016, 08:11:30 AM

I don't think it's wise to hide where you did or announce it to world in here.
It's better if you put it in a safe deposit box in your bank.

Statist lies! Banks lie and rob people, birds don't.

So where do you think he should have hide it?

In his back yard, under his birdbath. And keep it there for 20 years for maximum delayed gratification. Which he already did.

I don't understand the need for complicating stuff here!

it is really not that big a deal to hide bitcoin private keys, you can even keep the USB drive in your desk drawer as long as the contents (the wallet file) is encrypted. so in case somebody stole it they can not access the wallet.

and also keeping a printed version (encrypted also) on a paper is safe. a robber will not steal your papers they are after your valuables when they break into your home unless you announce it publicly that you are holding bitcoin in your home worth thousands of dollars!!

Except if there is a thief or robber who is after Bitcoin. I think there are more and more people who understand what the row of letters and numbers on the paper means, so nothing is absolutely safe.

Pursuer

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Where is my ring of blades...

Quote from: whored on May 09, 2016, 08:44:07 AM

Quote from: Y.Job on May 09, 2016, 08:36:54 AM

Quote from: whored on May 09, 2016, 08:33:36 AM

Quote from: Y.Job on May 09, 2016, 08:11:30 AM

I don't think it's wise to hide where you did or announce it to world in here.
It's better if you put it in a safe deposit box in your bank.

Statist lies! Banks lie and rob people, birds don't.

So where do you think he should have hide it?

In his back yard, under his birdbath. And keep it there for 20 years for maximum delayed gratification. Which he already did.

I don't understand the need for complicating stuff here!

it is really not that big a deal to hide bitcoin private keys, you can even keep the USB drive in your desk drawer as long as the contents (the wallet file) is encrypted. so in case somebody stole it they can not access the wallet.

and also keeping a printed version (encrypted also) on a paper is safe. a robber will not steal your papers they are after your valuables when they break into your home unless you announce it publicly that you are holding bitcoin in your home worth thousands of dollars!!

fydel

hero member

Activity: 522

Merit: 500

Hasta la Bitcoin siempre!

You did very good! Congrats for your project!

piotr14

newbie

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You will probably be good with $ from it but consider keeping priv keys in different places.

MaritiJames3

sr. member

Activity: 448

Merit: 250

That is not the best thing to do because now you will have to started saving again from 0. I hope that you make the money back that you invested because I am sure that it was quiet a bit of money.

adelhmdt

member

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If i were you, I will print a paper wallet and laminate it. Maybe the OS in 20 years will not recognize your USB drive anymore and the corrosion will destroy the electronic inside.

alani123

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