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

[anzel2002]

Should i follow suit and dump all my fiat savings into bitcoins?

Maybe half

[1715684117]

1715684117

[1715684117]

1715684117

[1715684117]

1715684117

[DimensionZ]

you should put how much you can afford to lose without affecting your life at all.  

My pocket money perhaps? Different folks have different monthly budgets so losing a couple hundred bucks into Bitcoin may not be such a big problem for some people while for others it could have been a disaster. But anyways spending all my savings on Bitcoin would be madness as my wellbeing will depend on luck and I don't want to end up poor just because I wanted to be rich in the first place   Also I don't even fathom how some people are okay with withdrawing their pension fund to invest into Bitcoin   I have seen these madmen on other websites as well.

[BitcoinSupremo]

you should put how much you can afford to lose without affecting your life at all.  

My pocket money perhaps? Different folks have different monthly budgets so losing a couple hundred bucks into Bitcoin may not be such a big problem for some people while for others it could have been a disaster. But anyways spending all my savings on Bitcoin would be madness as my wellbeing will depend on luck and I don't want to end up poor just because I wanted to be rich in the first place   Also I don't even fathom how some people are okay with withdrawing their pension fund to invest into Bitcoin   I have seen these madmen on other websites as well.

Actually they are not mad at all and for me they have done the right choice in investing in Bitcoin, me too I have 90% of all my savings in Bitcoin and I am very happy by doing so. My money is on my computer (there's no better than this) holding money on your PC. And if you need some when you are low on cash you can borrow from your own bank. How wonderful is that ? Extremely I would say. Beside I think this is the best way to store the money rather than keeping it cash in hand or in some bank where a third party will look after my cash. No thanks, I prefer looking after my money myself more.

[Elwar]

I spent all of my dollars on gold bars. Now I'm just sitting here with 100 oz of gold bars broke as hell. 

[diodio5]

Bitcoins is just like an investment,  We are not obligue to put all our savings into Bitcoins.
better for us to be wise.

yeah bitcoin is an investment. if you want to invest you have to have a plan for the future and plan for your investment, many people say that do not use all your money to invest. yeah that's right
Do not take the risk to use all your money dude

[sbtctalk]

you should put how much you can afford to lose without affecting your life at all. 

My pocket money perhaps? Different folks have different monthly budgets so losing a couple hundred bucks into Bitcoin may not be such a big problem for some people while for others it could have been a disaster. But anyways spending all my savings on Bitcoin would be madness as my wellbeing will depend on luck and I don't want to end up poor just because I wanted to be rich in the first place  Also I don't even fathom how some people are okay with withdrawing their pension fund to invest into Bitcoin  I have seen these madmen on other websites as well.

Perhaps only the mad will be rewarded. The world need more risk takers!

[lumeire]

Did OP already withdrew a portion of those bitcoins buried?

If I were him I'd sell a bit for myself now that the price is at a high.

[Elwar]

Why is it that the signature campaigners don't really get Bitcoin? They're just here to make some bitcoin so they can sell it for fiat I guess.

Enjoy your fiat. Worship your government. Go into debt. Buy as big of a house and car as you can afford.

 

[Cryptonitex]

Why is it that the signature campaigners don't really get Bitcoin? They're just here to make some bitcoin so they can sell it for fiat I guess.

Enjoy your fiat. Worship your government. Go into debt. Buy as big of a house and car as you can afford.

 

Why sell it for Fiat. When the time comes... You won't have to.

[langedwig]

Bitcoins is just like an investment,  We are not obligue to put all our savings into Bitcoins.
better for us to be wise.

As the price can not be predicted anytime, it is good to try investing a little from the savings. Once the price is stable and much confident on the growth, invest bit more than full. As it fully depends upon the timings, It is good to get profits from little investment than more. Before investing full amount on a business, it is really needed to discuss with the experts in that particular business.

[BlueStackz]

Bitcoins is just like an investment,  We are not obligue to put all our savings into Bitcoins.
better for us to be wise.

Yes obviously it is an investment like you do in gold. But of course more profitable then gold and all you need is patience while holding your coins or it can lead you to regret when price goes very high but you have already sold them all . No problem, just buy back when you get a better price.

[BitFinnese]

Pretty much a nice story.  So your putting all your faith in those 5 BTC.  I wish you all luck  and i hope it will multiply 100x in value!.  Anyway, you being broke is just temporary, Payday is near and so your savings will replenish. 

[pandalion98]

No no no no! Using USB sticks is a bad idea!

First off, even if you had them in a waterproof case, it will still rust if you did not put any form of humidity control (desiccant, etc.) You can't really be sure how waterproof that waterproof casing is!
Second, flash memory theoretically degrades after a few years on standby. There's a good chance your flash drives will get corrupted if you store it there for a very long time (about a decade or two).

Go get them!
I would recommend creating a QR code of your private key(s) and having it engraved on a piece of aluminum or something else that doesn't rust (plastic for example). Or simply have the text itself engraved, or both.
You can even get a deterministic wallet and have the seed words engraved.

Paper would have issues with moisture even if it's laminated, so just don't use paper.

[sumit513]

you should put them somewhere else.

[pandalion98]

you should put them somewhere else.

That's exactly what I just said.

[Altynbekova]

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

You got guts by spending all of your savings on those Bitcoins, I would have not been able to do that. If that was me I would have only spend halve of my money on Bitcoins.
I do not think that you usb will get destroyed you have protected it well, the only thing I can think of is that your usb might be corrupted after such a long time underground.

[uname]

you should put how much you can afford to lose without affecting your life at all. 

yeah it looks like this system will be very applicable. you should be able to allocate funds according to your budget. Do not use all your money to invest because it would be too risky

[Lokfar]

It is bad if you are greedy in Bitcoin because it can be bad if you are making mistakes with Bitcoin so you can lose also a lot of money if you selling it too early.
Wait for the right moment to sell it and you can make huge profit if the price rise for a long time.

[ajun96]

you should put how much you can afford to lose without affecting your life at all. 

Yeah agree innvest with amount that corresponds to what you've got dude. do not invest too much if you can not afford to lose. I do not blame you for using all your money to buy bitcoin. but before investing you should have a plan. so when you have a plan you will definitely not be too stupid to use all your money

[perla]

if no one know the place you buried your USB what will be happen if something bad happen to you ? IMO that is very risky to do because if no one can't find it then it will be gone if something bad happen to you