I spent all my saving on bitcoin, now i am broke

[Senor.Bla]

You've got to be kidding. After you've spent most of your savings just to bought bitcoin and you're just gonna buried it under your bird fountain in your backyard? Why do it when there's a lot of ways on growing your 5 BTC? You can do some trading's here in bitcointalk and other things that might help you to grow your 5 BTC. I think it will be just a waste of time if you'll just gonna let it go like that. You'll remain broke if you're not gonna do anything about your 5 BTC that you bought. Then what is the reason why you bought 5 BTC if you're just gonna bury it. Give me a break.

well i guess he was going with bitcoin as he is believing in it to gain value over time. his next priority was not to lose them. so i can totally understand, that he did not want to loan, gamble or trade, because with that there is always a risk involved to lose some. if you can not agree to that, than i want to see some prove, that those methods are risk free.

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[bamboylee]

not broke if OP get back his 5 btc because it is already profit if want to sell now, or maybe he already sold it at highest rate before halving because this is an old thread,

People have great plans and high expectations about them hodling their coins for a very long time, but as soon as the price starts to go up, these plans go to waste as people are too tempted to sell their coins.

Due to the lack of communication from OP's side I seriously think he already have sold his coins which I could understand if he sold at the peak in June.

It is part of investment discipline to stick with the plan no matter what happen. Sometimes we invested on something, then we get cold feet and sell back everything that cost our profit. It is amplified in bitcoin because there is really no certainty in bitcoin and the price keeps fluctuating sometimes. That will cause the newbie investors to panic sell instead of holding.

[Seansky]

Good that you invest in bitcoin mate, it might not be the worst idea since there is a probability that it will rise 10X or more in the future and there is a probability that it will be zero or below it's current price. I suggest that you hide your usb in a vault in the bank rather than hide it on your lawn it is risky there's a chance that someone may dig it since you already announced the location here and someone who recognizes that bird fountain that lives there might take it. 

[yndye]

Wow! That's a leap of faith right there. It's risky that you spent all your savings in buying 5 bitcoins because maybe it will not be worth that much in the future but we'll never know because as what we can observe right now, bitcoin is going up even if there have been some problems that make the price dive but then it will go back up again. Let's just hope that it would be 20x the value today or more when you get them back on 2036 which is 20 yrs from now. Maybe you'll be a millionaire during that time and we are also hoping for that to happen.

[veleten]

think TS has already dug the sticks out and sold his bitcoins at 620$ USD
so all in all he made 150$ profit per btc+started a topic that made my day (several times)
now shoo,go away,nothing to see here )
I'd be so tempted to sell the coins once they hit >600 usd,especially if I had spent all my savings on it

[MONKEYJUNK]

think TS has already dug the sticks out and sold his bitcoins at 620$ USD
so all in all he made 150$ profit per btc+started a topic that made my day (several times)
now shoo,go away,nothing to see here )
I'd be so tempted to sell the coins once they hit >600 usd,especially if I had spent all my savings on it

I don't think he's holding just for 150... Maybe this guy will hold for 10-20 years or more to profit like 10x

[mace15]

Investing in bitcoin is not totally bad. Its how you manage
well your money. We have sayings that dont put your eggs in
one basket. We have to ensure that we invest on something
that we can gain profit well. Likewise, all investments are risks,
dont put your whole amount of bitcoin in one investment.!

[kateaustin]

I don't think you have lost your savings in bitcoin, If you want you could withdraw it in less than 10 minutes so just consider yourself to be investing it in a project or so, The price is volatile but there is a possibility for profit as well.

[ArmyofFUD]

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


http://i68.tinypic.com/24b6m3m.jpg


http://i65.tinypic.com/10mvech.jpg

Big ups, sometimes you have to make these hard decisions. I was bout the same and had $500 left. In the end it will be worth because you will get better interest than at a bank

[drwtsn32]

That's why it is called "savings", they are meant to be saved!
Let me just share with you my saving algorithm. 

Salary/Income --> Save 10% --> Expenses

Save before you spend.

[Catmony]

Saving bitcoin for next 20 years may not be good decision and also that in a quite unsecure place like in your garden. Better put it on a bank locker so that even if you don't live till than your family can take control of your bitcoins.

[Evintiman]

Saving bitcoin for next 20 years may not be good decision and also that in a quite unsecure place like in your garden. Better put it on a bank locker so that even if you don't live till than your family can take control of your bitcoins.

If you put it in a bank locker and somebody get access to the private keys, they can steal the bitcoin.

[useless4]

i sometimes spend a lot of money on bitcoins too because it can make me some decent money really easily

[bitcoinfallacy]

i wold not not not bury it moles dig tunnels and when they encounter they will drag it with them down the tunnel then you precious box will be lost in a maze of tunnels and you will hav to dig your hole garden up to find them.

better create a paper wallet its safer its ink its small its thin it doesnt need electric u can laminate it u can put sellotape over it put it in a jar with dessicant seal it tight and it will last for many years

[fireball4]

So this guy bought bitcoin when the price was about $450 and now that they are $600 he's broke? lol

he is a lucky person and he also saw a price of $750 in the mid of the year so he got about 80% or more profit with that bitcoins. But I think he is saying it because he have buried them and is unable to use them for his needs. He should have to keep them in his living wallet.

The problem is that we don't know how everything is right now. Perhaps he sold all his coins to secure profits. Perhaps that his coins, or the majority of it are still untouched. An update from OP would be a welcome thing here.

op last active was today , would be nice to get an update from him right? but since he is planning to save the 5 bitcoin for very long term saving in bitcoin , i guess he just keep his bitcoin underground . the 'broke' that what op means are due he has spent the whole fiat money saving to buy bitcoin and buried it. so i guess he just have a great plan not the real broke.

Yeah, I would also like to see an update on this whenever he plans on selling or if he's already checked if it's still there :p
But it's better to wait until he takes another action, now it's just waiting that he has to do.

this dude is a legend already. and as far as i understand he has not intention of selling them soon (but he is learning more about bitcoin and how to use paper wallets), so they are most likely still there.

That is right. The bitcoin is still in the very early stage of development. The price will still rise a lot in the near future.

thats true, bitcoins are definitely going to grow a lot in the near future, in my opinion it would make me some good money

[Doamader]

So this guy bought bitcoin when the price was about $450 and now that they are $600 he's broke? lol

he is a lucky person and he also saw a price of $750 in the mid of the year so he got about 80% or more profit with that bitcoins. But I think he is saying it because he have buried them and is unable to use them for his needs. He should have to keep them in his living wallet.

The problem is that we don't know how everything is right now. Perhaps he sold all his coins to secure profits. Perhaps that his coins, or the majority of it are still untouched. An update from OP would be a welcome thing here.

op last active was today , would be nice to get an update from him right? but since he is planning to save the 5 bitcoin for very long term saving in bitcoin , i guess he just keep his bitcoin underground . the 'broke' that what op means are due he has spent the whole fiat money saving to buy bitcoin and buried it. so i guess he just have a great plan not the real broke.

Yeah, I would also like to see an update on this whenever he plans on selling or if he's already checked if it's still there :p
But it's better to wait until he takes another action, now it's just waiting that he has to do.

this dude is a legend already. and as far as i understand he has not intention of selling them soon (but he is learning more about bitcoin and how to use paper wallets), so they are most likely still there.

I wouldnt say a legend, but this might be another sucess history like the pizza old history. Knowing one thing that is savings at bitcoin does really magic and allow anyone to earn above the inflation, something with fiat wont happen never, and this show one extra thing that investment might be sometimes not the best option.

[MONKEYJUNK]

So this guy bought bitcoin when the price was about $450 and now that they are $600 he's broke? lol

he is a lucky person and he also saw a price of $750 in the mid of the year so he got about 80% or more profit with that bitcoins. But I think he is saying it because he have buried them and is unable to use them for his needs. He should have to keep them in his living wallet.

The problem is that we don't know how everything is right now. Perhaps he sold all his coins to secure profits. Perhaps that his coins, or the majority of it are still untouched. An update from OP would be a welcome thing here.

op last active was today , would be nice to get an update from him right? but since he is planning to save the 5 bitcoin for very long term saving in bitcoin , i guess he just keep his bitcoin underground . the 'broke' that what op means are due he has spent the whole fiat money saving to buy bitcoin and buried it. so i guess he just have a great plan not the real broke.

Yeah, I would also like to see an update on this whenever he plans on selling or if he's already checked if it's still there :p
But it's better to wait until he takes another action, now it's just waiting that he has to do.

this dude is a legend already. and as far as i understand he has not intention of selling them soon (but he is learning more about bitcoin and how to use paper wallets), so they are most likely still there.

I wouldnt say a legend, but this might be another sucess history like the pizza old history. Knowing one thing that is savings at bitcoin does really magic and allow anyone to earn above the inflation, something with fiat wont happen never, and this show one extra thing that investment might be sometimes not the best option.

I think the guy who received the bitcoin for buy that pizza don't have the bitcoin anymore hahahahahaha maybe he lost his wallet or sold for a "medium" price.
Anyone know's what's happen with this guy?

[Zadicar]

So this guy bought bitcoin when the price was about $450 and now that they are $600 he's broke? lol

he is a lucky person and he also saw a price of $750 in the mid of the year so he got about 80% or more profit with that bitcoins. But I think he is saying it because he have buried them and is unable to use them for his needs. He should have to keep them in his living wallet.

The problem is that we don't know how everything is right now. Perhaps he sold all his coins to secure profits. Perhaps that his coins, or the majority of it are still untouched. An update from OP would be a welcome thing here.

op last active was today , would be nice to get an update from him right? but since he is planning to save the 5 bitcoin for very long term saving in bitcoin , i guess he just keep his bitcoin underground . the 'broke' that what op means are due he has spent the whole fiat money saving to buy bitcoin and buried it. so i guess he just have a great plan not the real broke.

Yeah, I would also like to see an update on this whenever he plans on selling or if he's already checked if it's still there :p
But it's better to wait until he takes another action, now it's just waiting that he has to do.

this dude is a legend already. and as far as i understand he has not intention of selling them soon (but he is learning more about bitcoin and how to use paper wallets), so they are most likely still there.

I wouldnt say a legend, but this might be another sucess history like the pizza old history. Knowing one thing that is savings at bitcoin does really magic and allow anyone to earn above the inflation, something with fiat wont happen never, and this show one extra thing that investment might be sometimes not the best option.

I think the guy who received the bitcoin for buy that pizza don't have the bitcoin anymore hahahahahaha maybe he lost his wallet or sold for a "medium" price.
Anyone know's what's happen with this guy?

No one  knows what happen to that pizza delivery boy which sells   pizza for 10k bitcoin which is  already a lot. If he knows the current price now  maybe hes one of the richest on bitcoin world  well  no one knows what happen to him if he possess still the  huge amount of bitcoin.

[Elwar]

No one  knows what happen to that pizza delivery boy which sells   pizza for 10k bitcoin which is  already a lot. If he knows the current price now  maybe hes one of the richest on bitcoin world  well  no one knows what happen to him if he possess still the  huge amount of bitcoin.

He gets interviewed all the time. He doesn't have a lot of bitcoins. He always says that he is glad he spent the bitcoins because it helped to prove that Bitcoin can be used as a currency. Some people actually want Bitcoin to succeed and not just hold onto them contributing nothing but shitty signature posts.

[newcoins1978]

It was not a bad idea to save bitcoin but it is only a bad idea if you spend money which you can't spend though!
But anyways you didn't need to split them up and bury them you could have made some seperate wallets and save them in those which is much easier.