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

[ElpadroBitcoin]

You made a stupid decision by doing this but maybe if you have some luck you still will make some good profit if you stay holding it of course.
I think there is a good chance you still make some nice profits.

[eternalgloom]

I also can not understand why you are investing all your savings into the bitcoin its a risk and its just stupid to do this to be honest..
You can better invest a smaller amount to play it save these days, the bitcoin is unpredictable.

Because some website are offering some good pay backs where they can easily grow your money in month or weeks depends on what you offer you choose on their website sometimes people are too greed of wealth where they don't think the risk they facing of to be honest trading is much more better than investing

What? He wasn't even talking about investing those Bitcoins and you're giving out bad advice, it's not easy to grow your Bitcoins and it's also not safe.
Sure, you can trade, but that's always with risks.

[Hedrilin]

I would have never done this at the first place because of the fact that you always need some extra money to be sure you are good with monthly payments or something accidental.
You should now just wait and cash out on the right moment to make some profit but you also should not wait too long.

[bravehearth0319]

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.

Indeed, this is most often happened in the community in bitcoin world. It is also given that in the near future bitcoin will really increase the price value, like majority of the individuals here all of them are holding and keeping their coins.

[bravehearth0319]

I also can not understand why you are investing all your savings into the bitcoin its a risk and its just stupid to do this to be honest..
You can better invest a smaller amount to play it save these days, the bitcoin is unpredictable.

Exactly not sure if serious or not but yeah that sucks man, next time dont put your whole networth into the bitcoin cause anything can happen.
You can start up again and try to get a bigger pocket by trading, its risky etc but you dont have much to lose anymore.

That's right! Its an act of stupidity if you invest all of your money into it. Well I think better for you to take it as a charge of experience and learn a lesson man!

[btvGainer]

If you still holding your coins and have not already spent it or even worse invested in some ponzi,you should have made a good profit with all your bought bitcoin

[tampazeus]

I also can not understand why you are investing all your savings into the bitcoin its a risk and its just stupid to do this to be honest..
You can better invest a smaller amount to play it save these days, the bitcoin is unpredictable.

Exactly not sure if serious or not but yeah that sucks man, next time dont put your whole networth into the bitcoin cause anything can happen.
You can start up again and try to get a bigger pocket by trading, its risky etc but you dont have much to lose anymore.

That's right! Its an act of stupidity if you invest all of your money into it. Well I think better for you to take it as a charge of experience and learn a lesson man!

We all know that any investment is risky and with bitcoins the risk is even more higher as no one knows how long bitcoin will survive so putting all money in it is the worst decision to make.

[lienfaye]

If you still holding your coins and have not already spent it or even worse invested in some ponzi,you should have made a good profit with all your bought bitcoin

Its safe to just hold your btc in your wallet and just wait for the value to increase than investing it in ponzi because its really risky, losing your money is really hard especially when its because of the wrong decision you made. but its a lesson learn just be careful next time.

[johnnyyash]

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 

I also thought as much..I truly agree with you..

[AlexM]

Well, assuming you actually followed through with this, you are either incredibly confident or incredibly stupid.

I'm not saying it is necessarily a bad investment, but you must be very confident in the future of Bitcoin and its ability to maintain value over long periods of time. $2300 USD is a fairly large investment, and I hope that you pay attention to the market and play it right so you can make some money off of it.

Good luck with your investment.

It depends on the person. If you look at Bitcoin holdings the majority of the coins are held by quite a small number of addresses so there are a lot of whales and baby whales. Sure there are plenty of people who have 0.1 of a Bitcoin but 5 or 6 Bitcoins sounds like a pretty small investment to me even if it is your life savings. If you live in a 3rd world country then it may be a massive investment, but if you live in the USA, Europe,Australia, Canada then this is basically the average wage for 1 month.
If you look at China there are over 10 million millionaires. We have 2 universities in our city of roughly 500,000 in the UK. One of these universities has over 1000 Chinese students studying at it. They pay an average of $50,000 per year to study. That is at 1 university in 1 city in 1 country. They pay upfront with cash and pay upfront with cash for there accommodation. The university is good , but not particularly special internationally. What I am saying is that there are a lot of people with a lot more money than you and I, even in non western countries.

Interesting choice of safety, I went with paper wallets in 2 safes neither of which are in my home or even within a hundred miles. 1 is backup for the other, sure I have some play coins too but I can't off load my Bitcoins on a whim. Ive got to wait for bank opening hours and then catch a train or 2 or drive a long way.

[Hilat]

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

Spending all of cour bitcoins is never a good idea i dont think there is an explenation for this kind of things because spending all of your money in one time is not what called a smart stap.

[bryant.coleman]

I also can not understand why you are investing all your savings into the bitcoin its a risk and its just stupid to do this to be honest..
You can better invest a smaller amount to play it save these days, the bitcoin is unpredictable.

I agree with you, but it is his choice. What he does with his money is none of our business. If tomorrow Bitcoin touches the $10,000 per coin mark, then you will be cursing yourself for not investing more in BTC, and he will be celebrating his luck. It is quite unpredictable. I know a lot of guys, who became broke after following through the advice from well known market experts.

[SquallLeonhart]

I also can not understand why you are investing all your savings into the bitcoin its a risk and its just stupid to do this to be honest..
You can better invest a smaller amount to play it save these days, the bitcoin is unpredictable.

I agree with you, but it is his choice. What he does with his money is none of our business. If tomorrow Bitcoin touches the $10,000 per coin mark, then you will be cursing yourself for not investing more in BTC, and he will be celebrating his luck. It is quite unpredictable. I know a lot of guys, who became broke after following through the advice from well known market experts.

Yes anything is possible with bitcoin, either it will touch the moon or simply disappear in future but its always wise not to put all your money at single place as you can loose everything if bitcoin doesn't performs well in future.

[saiha]

Spending all of cour bitcoins is never a good idea i dont think there is an explenation for this kind of things because spending all of your money in one time is not what called a smart stap.

Well it is not a recommended thing to do if you are going to spend all of your savings and you are going to convert it to bitcoin.

Because that is going to be a really risky thing to do. And if you are going to spend all of it for one time use only.

Then that is going to be a reason for your breaking your heart if you are going to fail with it.

[Corenin]

Spending all of cour bitcoins is never a good idea i dont think there is an explenation for this kind of things because spending all of your money in one time is not what called a smart stap.

Well it is not a recommended thing to do if you are going to spend all of your savings and you are going to convert it to bitcoin.

Because that is going to be a really risky thing to do. And if you are going to spend all of it for one time use only.

Then that is going to be a reason for your breaking your heart if you are going to fail with it.

Its not a smart thing to put all money in bitcoins, as we all know that bitcoin is unpredictable and if things doesn't go in your favor then it will make you beg on the streets for food.

[marcuslong]

Spending all of cour bitcoins is never a good idea i dont think there is an explenation for this kind of things because spending all of your money in one time is not what called a smart stap.

Well it is not a recommended thing to do if you are going to spend all of your savings and you are going to convert it to bitcoin.

Because that is going to be a really risky thing to do. And if you are going to spend all of it for one time use only.

Then that is going to be a reason for your breaking your heart if you are going to fail with it.

His not giving value of his bitcoin or money all he want to do is to spend and spend money or bitcoin for his self he didn't think that he is going to need that someday , well that is his choice we can't blame him but for me it is much more better if his going to convert his money into bitcoin and invest it.

[maydna]

Spending all of cour bitcoins is never a good idea i dont think there is an explenation for this kind of things because spending all of your money in one time is not what called a smart stap.

Well it is not a recommended thing to do if you are going to spend all of your savings and you are going to convert it to bitcoin.

Because that is going to be a really risky thing to do. And if you are going to spend all of it for one time use only.

Then that is going to be a reason for your breaking your heart if you are going to fail with it.

His not giving value of his bitcoin or money all he want to do is to spend and spend money or bitcoin for his self he didn't think that he is going to need that someday , well that is his choice we can't blame him but for me it is much more better if his going to convert his money into bitcoin and invest it.

its an option for every people in how would they use bitcoin when they have bitcoin in their wallet and if there is people make something wrong, we can't blamed that person because he have that bitcoin and we are only outside people. but if that person is our friends, we can give some advice to that our friend so our friend will not get broke soon but our friends can make bitcoin as long term investment like we do.

[beamforming2]

It is not a good ideal to inv all momney into btc, 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.

   

[goinmerry]

It is not a good ideal to inv all momney into btc, 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.

   

In investing a calm mind is needed and you are correct. We dont want to be making mistakes when it is already dont just regretting at the end. We need to stay wise before making decision or choices. Specially now that there have been a lot of alt coins that are being created.

[posternat]

It is not a good ideal to inv all momney into btc, 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.

   

In my opinion isn’t a good idea invest all your money in only one thing. You can be a millionaire in some years or you can be a broke guy in some hours.