My 2,000 BTC is all gone :(

[Gyrsur]

i don't understand why people store large amount of bitcoins in hot wallets?? for saving. make always paper wallets. one paper wallet loaded with 10 BTC. you can print out up to seven paper wallets on a piece of paper. the side back another 7 paper wallets. where is the problem??

www.bitaddress.org

Gotta love how people don't bother reading beyond the OP even when the thread is only one page...

And for goodness sake, Rassah is a young man - he's not a Baby Boomer who just risked his paltry retirement savings.  I'm not saying it was a smart risk he took, but it's OK to want and have nice things to enjoy now rather than being obsessed with what your bank/Bitcoin balance is going to be at the expense of actually enjoying your life.

wait, he bought a car with bit gold?? how stupid is that!! gold is for saving and not for buying. you have fiat money to buy the necessary things for live.

EDIT: and on the other hand the car looks like very gay!

[repentance]

you have fiat money to buy the necessary things for live.

So it's OK to borrow fiat money to buy "bit gold", but it's not OK liquidate "bit gold" to pay back the loan and buy nice things?

[Gyrsur]

you have fiat money to buy the necessary things for live.

So it's OK to borrow fiat money to buy "bit gold", but it's not OK liquidate "bit gold" to pay back the loan and buy nice things?

right, in the meantime he should have worked to pay back the 15k to his "husband". 

[deeplink]

you have fiat money to buy the necessary things for live.

So it's OK to borrow fiat money to buy "bit gold", but it's not OK liquidate "bit gold" to pay back the loan and buy nice things?

right, in the meantime he should have worked to pay back the 15k to his "husband". 

Okay we get where you're coming from now. Please go back to your intelligent and heterosexual friends.

[01BTC10]

[ingrownpocket]

That's a very ugly car...

https://bitcointalk.org/index.php?topic=143722

[Gyrsur]

That's a very ugly car...

https://bitcointalk.org/index.php?topic=143722

HAHA, I prefer this one:

http://www.chevrolet.com/new-2014-corvette/

[Rassah]

OK, bit more info.
First, this wasn't a "lucky gamble." Bitcoin prices stabilized by the time I bought, the loan interest rate is 3% (pretty tiny,  accumulating only $450 a year), and it was a risk I could afford. I knew bitcoin would reach the desired price eventually. Even if they crashed a few times until then, all I needed was for them to reach a target price of $22. When buying, I was estimating that this would happen by the end of May. I only got lucky because the price bubbled up, and I got there in ~6 month instead of ~12, but it would've reached there eventually.
Second, yeah, I'm sure just keeping bitcoins would've been a better financial investment long-term, but the car I currently drive is 14 years old with 240,000 miles on it. It's about time for it to retire, and damn if it isn't trying. I'm frugal, so this new car purchase want spur of the moment, but was necessary. Maybe it being all loaded and luxury wasn't, but, hey, that was free  
Third, it takes 2,650 D-Cells. And I didn't buy the car Phin suggested because Smart cars were completely broken when they came out in US, going from 70+mpg diesel to 35+mpg premium gas only. Waste of money.
I don't offer tax services for free, but keep in it Bitcoin and you don't have to pay taxes on it, or sell it for USD and declare it as a capital gain with 15% tax. You can do more, especially if you mine, but...

[paraipan]

Nice car by the way...

+1 congrats 

[kangasbros]

I think "gambling" with bitcoin exchange rate is smarter than, for example, playing satoshidice. With real gambling you are guaranteed to lose, statistically speaking.

[molecular]

Rassah, did you pay capital gains tax on the $15,000?

Americans and their cars... why not just keep 1000 BTC and stay in the game?

[Gyrsur]

apart of all "sexuell orienteded discussion" I'm really think about to put a fix amount of fiat money into bitcoin month by month like you put fiat money into shares/stock month by month as a savings scheme.

I doubt we will see single digit again.

EDIT: But where to store the paper wallets then? Not at home. Maybe a safe deposit box within a bank.

[Rassah]

Rassah, did you pay capital gains tax on the $15,000?

Americans and their cars... why not just keep 1000 BTC and stay in the game?

Nope. Won't have to until April a year from now.
I need a car to drive to work, and mine is almost dead, so...
Also, I'm still in the game. The bitcoins I sold were only the ones I bought with the $15,000 I borrowed. Ever since June of 2011 I have switched from using my bank's savings account to using Bitcoin as my main savings account, and ever since have saved about $200 every paycheck into bitcoin for things like travel, new phones/computers, miscellaneous purchases, and emergency fund stuff. When I announced I'm doing that (about same time Falkvinge said he's moving all his savings into bitcoin), a bunch of people said I was crazy and an idiot for doing that because of bitcoin's volatility. I'm sure there are many who still think that. Yes, it's volatile, but  the volatility really doesn't matter over the long term. Long story short, my BTC account is worth about $20,000 more than I actually put into it, despite the rise to $30, crash to $3, and everything in between. And yes, I've cashed out plenty of times as I traveled or bought electronics. Travels all go on credit cards (lots of cash-back), and get paid off the same month.

[niko]

This thread is precious in the light of all the screaming "deflationary currency prevents spending and will kill the economy!!!".
Enjoy your purchases, Rassah! You use Bitcoin, not the other way around

[molecular]

Rassah, did you pay capital gains tax on the $15,000?

Americans and their cars... why not just keep 1000 BTC and stay in the game?

Nope. Won't have to until April a year from now.
I need a car to drive to work, and mine is almost dead, so...
Also, I'm still in the game. The bitcoins I sold were only the ones I bought with the $15,000 I borrowed. Ever since June of 2011 I have switched from using my bank's savings account to using Bitcoin as my main savings account, and ever since have saved about $200 every paycheck into bitcoin for things like travel, new phones/computers, miscellaneous purchases, and emergency fund stuff. When I announced I'm doing that (about same time Falkvinge said he's moving all his savings into bitcoin), a bunch of people said I was crazy and an idiot for doing that because of bitcoin's volatility. I'm sure there are many who still think that. Yes, it's volatile, but  the volatility really doesn't matter over the long term. Long story short, my BTC account is worth about $20,000 more than I actually put into it, despite the rise to $30, crash to $3, and everything in between. And yes, I've cashed out plenty of times as I traveled or bought electronics. Travels all go on credit cards (lots of cash-back), and get paid off the same month.

glad to hear you're still in the game

you got a good approach there. at least looking back it has worked well. i think it will in the future, too

[Littleshop]

ITT: Attention-grabbing title to brag about an irresponsible gamble.

FTFY

[Rassah]

you got a good approach there. at least looking back it has worked well. i think it will in the future, too

I'm sure it will. Soon as the Bitcoin euphoria dies down a bit, and prices come down to whatever levels I figure are reasonable, hubby already asked me to do this again to help pay off his new (bought a year ago) car. No idea when the Bitcoin rollercoaster will reach the top though.

[molecular]

ITT: Attention-grabbing title to brag about an irresponsible gamble.

FTFY

anything wrong with that?

[SgtSpike]

Nicely done Rassah!  Ignore the naysayers - they're just jealous they didn't do the same. 

[Littleshop]

ITT: Attention-grabbing title to brag about an irresponsible gamble.

FTFY

anything wrong with that?

I don't think so!   It got my attention.