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

[Evintiman]

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

[Arrakeen]

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

[interbtc]

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..

[joe101]

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"

[FruitsBasket]

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.

[angaper]

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

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.

[Ultrafinery]

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?

[interbtc]

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

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.

I wouldnt be so short sighted to say that there will be no bitcoin in 20 years, or even that its very recent phenomenon when its here for over 7 years or so..
If he decided to invest into something he believes in, why does it matter that there are other ways to invest money in. We all have passion for something, and for most
of us here, that passion is bitcoin and decentralised networks alike. Maybe youre in the wrong place is all..

[Ultrafinery]

We all have passion for something, and for most of us here, that passion is bitcoin and decentralised networks alike. Maybe youre in the wrong place is all..

Err... By this passion that we all share, you mean "buy BTC and bury it under a birdbath for 20 years"? Perhaps we're not quite as alike as you think...

[interbtc]

We all have passion for something, and for most of us here, that passion is bitcoin and decentralised networks alike. Maybe youre in the wrong place is all..

Err... By this passion that we all share, you mean "buy BTC and bury it under a birdbath for 20 years"? Perhaps we're not quite as alike as you think...

Like i said in my post above; i do think that method of storage is not the smartest one, and niether is leaving the sticks/wallet with no password.
But i stick to my belief that investing into bitcoin, even if you are going to let it chill for a decade is a good idea. The very code it was written for it
clearly shows that the time is your friend if you are going to be an investor in this game.
We dont have to be alike, but the logic behind the thought shows how what i say is in fact true, or atleast that it should be.

[ProfessionalGoogler]

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

Bitcoin has.. many times already..

Not sure what else is left unless Bitcoin does something amazing which so far development has come to a slow down/halt.

Maybe 2-5 years it will double.

[cryptoheadd]

You're technically not broke.
You still own the 5 BTC which will be worth a whole lot more, soon.

[Ultrafinery]

We all have passion for something, and for most of us here, that passion is bitcoin and decentralised networks alike. Maybe youre in the wrong place is all..

Err... By this passion that we all share, you mean "buy BTC and bury it under a birdbath for 20 years"? Perhaps we're not quite as alike as you think...

Like i said in my post above; i do think that method of storage is not the smartest one, and niether is leaving the sticks/wallet with no password.
But i stick to my belief that investing into bitcoin, even if you are going to let it chill for a decade is a good idea. The very code it was written for it
clearly shows that the time is your friend if you are going to be an investor in this game.
We dont have to be alike, but the logic behind the thought shows how what i say is in fact true, or atleast that it should be.

If you think that burying USB sticks for 20 years is "let[ting] it chill for a decade" you're wrong on multiple levels, starting with 20 years being two decades, not one.
If you think "The very [Bitcoin] code it was written for "let[ting] it chill for a two decades," consider letting someone else code and handle your money.

But of course you didn't bother checking if OP makes any sense otherwise.
It's normal, as far as you're concerned, that OP "took out all my saving from my bank 3500 and bought ... a total of 6 bitcoins ... i only have 100 dollars left in my bank,  i am basically broke,  my whole saving gone!" This is the same international entrepreneur who outsources, claims to "often deal with sending money overseas to developers"? Mental illness is a bitch, on top of the world one day, 100 bucks to your name the next...
This all totally adds up, right?

[killerjoegreece]

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.

Bitcoins using Proof Of Container

[btccashacc]

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"

Storing bitcoin in paper wallet might be a good idea than storing them on usb stick, but you must remember to keep it safe in any place, dont forget to laminate it to avoid the distruction or something could happen.
hoping somone in your life wouldn't find it,

[coinzat]

I like your creativity in hiding these USBs, but I am not sure it will be save to put them in a. wet place like this even if they are safe with the plastic box because a leak may happen and corrupt the usbs . so I think you should think for a plan B

[Junko]

A small safe deposit box at a bank only costs around $15 - $25 a year. A small price to pay for a bit more piece of mind. Oh, that's right, I forgot you said you are now broke. Nvm.

Now excuse me while I go snooping all the backyards in my neighborhood and surrounding area for a birdbath that matches yours.  

[Blinken]

What are the geo coordinates of that fountain?

[European Central Bank]

Nah. Not good enough. Tattoo the private keys on the inside of your foreskin and become celibate. And never show it to a doctor either.

[Minecache]

Even the best USB sticks fail over time. What price where they each and how long do you plan on leaving them buried underground potentially exposed to dampness?