I spent all my saving on bitcoin, now i am broke - page 30.

Ultrafinery

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Activity: 84

Merit: 10

Quote from: joe101 on May 08, 2016, 03:28:19 PM

i often deal with sending money overseas to developers and it's insane how complicated or expensive it is to send others money who don't live in the same country as you,

OP, yu often send money overseas to developers, but your bank account is empty after you
"took out all my saving from my bank 3500 and bought some bitcoin
i now have a total of 6 bitcoins"?

Outsourcing must be mighty unprofitable...

Also doing some math here, help me out, you paid 580 + per BTC? How much over spot is that?

angaper

hero member

Activity: 966

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In 20 years there will be no longer bitcoin... Grin

What you have done is an act of faith, because no one can know with certainty the future of bitcoin, since this is a very recent phenomenon into the history of human economy. But you can make a lot of productive things in 20 years with that amount of money.

FruitsBasket

legendary

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You should keep a backup of the private key on paper and in a safe or somewhere safe, not in your backyard.
Your private key should be backed up at diffrent locations, but safe locations where no one else but you can get.

What kind of phone do u keep btc on? I know that Android phones are more vulnarable then Apple phones.

joe101

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Activity: 74

Merit: 15

i thought it was overkill too, i guess it is, since the price of bitcoin is not super high at the moment,

i am very confident bitcoin is the future, steam recently started accepting bitcoin, i was waiting for that

i have been researching bitcoin for almost 1 year now, and i have come to the conclusion that as soon as it hits mainstream the price the skyrocket

i often deal with sending money overseas to developers and it's insane how complicated or expensive it is to send others money who don't live in the same country as you,

bitcoin has completely changed this for me. Bitcoin has huge potential, i can't believe i did not get into it earlier the average person doesn't realize this yet

from everyone's replies i better learn to make paper wallet, i will dug it back up before the end of summer and put in paper wallets, just to have more security,

i don't want to put my usbs at the bank, i don't trust banks

i don't see any problem with burying things, my grandpa buried money and valuables in his backyard all the time,

his advice was "in the 97 years on this earth, i have never trusted the banks"

interbtc

sr. member

Activity: 451

Merit: 250

This is one of the more interesting story i have heard in a long time. I dont personally think you made a mistake by buying bitcoins, but i do
think that method of storage is not the smartest one, and niether is leaving the sticks/wallet with no password.

If youre into something like that, maybe you should of stored them in a time controlled safe, because leaving them burried will probably
end up by you digging them out as soon as the price sparks up, especially because you seam not to have more money..

Arrakeen

hero member

Activity: 532

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Offer escrow, receive negative trust

Quote from: Evintiman on May 08, 2016, 03:25:40 PM

Can the USB stick last that long? I heard the electron will migrate and leak out. The information will be lost.

Yup, if a USB has data stored onto it, and doesn't have room to breath, it'll slowly corrupt itself as it attempts to survive in such an environment. OP, I'd dig those sticks up ASAP. Print out your wallet and stick the paper inside a book, or hang it on your wall behind your clothes

Evintiman

newbie

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Can the USB stick last that long? I heard the electron will migrate and leak out. The information will be lost.

vincentvincent

sr. member

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Don't worry. I think you put more thought in your security then a lot of us have done!

I think you wil do fine Wink

Ultrafinery

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Quote from: Gleb Gamow on May 08, 2016, 03:03:27 PM

This is my dog. Not the real one but similar. He sniffs out buried bitcoins, especially if next to a birdbath about three feet deep.

This is me and my dog. Not the real me or my real dog, but similar.

...actually scratch that, I lied. I don't have a dog.

jt byte

hero member

Activity: 994

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Atleast you kept one BTC on your cell phone Roll Eyes

So all is not lost Undecided

magemist

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Quote from: eternalgloom on May 08, 2016, 03:12:22 PM

I don't know if it's really a good idea to use USB sticks for that, I would have made a paper wallet and laminated it.
You say you burried it? What if moisture reaches those USB sticks and they don't work anymore?

Not saying it's a bad idea to put your savings into Bitcoin, but I think you could have done it in a better way.

They are in waterproof cases doubled if I am not mistaken.
He is a brave man indeed. Just hope he is not a kid that when his parents sell that house he has to move with them then forget about them by then.

Baby Rage

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Qtum • Value Transfer Protocol DAPP Platform

Quote from: eternalgloom on May 08, 2016, 03:12:22 PM

I don't know if it's really a good idea to use USB sticks for that, I would have made a paper wallet and laminated it.
You say you burried it? What if moisture reaches those USB sticks and they don't work anymore?

Not saying it's a bad idea to put your savings into Bitcoin, but I think you could have done it in a better way.

they were water proof containers, but still, water finds a way.

eternalgloom

legendary

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I don't know if it's really a good idea to use USB sticks for that, I would have made a paper wallet and laminated it.
You say you burried it? What if moisture reaches those USB sticks and they don't work anymore?

Not saying it's a bad idea to put your savings into Bitcoin, but I think you could have done it in a better way.

gagalady

legendary

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lol...hopefully your $3500 bitcoin will not dropped due to block halving

Cantoner

member

Activity: 71

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Well its insane to invest such money and let the luck decide what will happen into the future you should donwload a wallet,maybe eletrum and store your coins there,just getting the adress and the keys to acess it in case something bad happen but store at a fountain is insane ,i just hope we are neighbours . Grin

cryptoheadd

hero member

Activity: 1036

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I would recommend you to take them out and put them on trezor or something.

Else, just make a paper wallet and put it in your bank's safe/locker.

It's very risky, putting the coins in your backyard.
Lol

Baby Rage

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Qtum • Value Transfer Protocol DAPP Platform

Quote from: Jannn on May 08, 2016, 02:47:07 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

Gleb Gamow

vip

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This is my dog. Not the real one but similar. He sniffs out buried bitcoins, especially if next to a birdbath about three feet deep.

PinkLlama

full member

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All I can say is good luck with the investment. I also think that the Bitcoin price will rise in the future so I myself believe this was a good thing on your side. But there is a chance that the Bitcoin price will drop and you've just wasted all of your savings on nothing. Good luck anyway man.

calkob

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Think that might be a bit of overkill Shocked

Topic: I spent all my saving on bitcoin, now i am broke - page 30. (Read 25446 times)