You can. I spent about $800-1000 CAD/month the past few years in University. That's about $10800 CAD a year, if you exchange that to USD at current exchange rates, that's $8474. Assuming 3% inflation, a very conservative 5% return on investment and no taxes because of low income, $423700 is enough to live off of without touching the principle. If you can get 7%, you only need $211,850.
But it's not a great lifestyle, and you might have a bit trouble finding rent by the time you're 40.
Topic: 100 bitcoins. Will I be a millionaire by 2020? - page 38. (Read 77417 times)
No ,because a million isnt much thesedays
there isnt even a small house in my area for under a million
it takes several million to have a good life thesedays especially if you have a wife and kids
Depends on whether you're willing to adjust your lifestyle a bit and what it consists of at the moment. You could retire on that in most first world countries but you'd have to live relatively modestly and accept certain limitations.
If you don't have any kids, wives, ex wives or addictions it's doable. It would work for me but I've always lived frugally and don't have any ties.
I have 100 bitcoins. Its 2015. I'm already a millionaire... Do I win £5?
No ,because a million isnt much thesedays
there isnt even a small house in my area for under a million
it takes several million to have a good life thesedays especially if you have a wife and kids
Of course the ideal would be to own a couple properties and rent them so you dont have to work ever again.
Why are you comparing bitcoin, which is global, to just a single country? It doesn't make sense. Added to that, bitcoin could also be a store of value like gold, taking a % of that market as well. And who knows how many more markets in the future.
I don't think bitcoin will replace fiat anytime soon, if ever. But that doesn't mean bitcoin's value can't increase by a significant amount.
I don't think bitcoin will replace fiat anytime soon, if ever. But that doesn't mean bitcoin's value can't increase by a significant amount.
I don't think many people realize just how much money already exists.
To give you an idea: the ECB is creating between now and next 2 year 1000 billion Euro out of nothing, thats 1e12 euros. All this only will cause some minor inflation of some percentagepoints.
As a comparison in 2 years time about 2.6 million btc are created. Divide those 2 and you get a really big number of euros per bitcoin.
This is just to show what could happen if bitcoin would be accepted as a curreny next to the euro or usd. The value would rise immensly (and not to 100k, but to several million per btc).
Will this happen? Or will the btc value just linger or go to zero ? Nobody can tell you.
For me the main reason for a rise would be some external event triggering this: major European country going bust, even events with Greece or end of Eurozone could make things moving VERY quickly.
If that happens the financial world could shift enourmous amounts of money very quickly. I think now several of them are just slowy accumulating in case of.
To be able to absorp the rise, the bitcoin protocol needs to be readyto play in the major leage and lots of development still needs to be done. But I think that is coming along nicely.
So yes I think 100 bitcoin will be a lot of money. It will in fact be a huge amount of money. When is difficult to predict.
Also when btc starts rising it will be immensly difficult to keep all that 100 btc together. There's just no way somebody can keep his nerves when seeing btc rise to 1000, then a few thousand, and so on.
Everybody will be tempted to sell off some (or even a major part) of it.
We've seen that happen in the rise from 0.01 to 30 and then again from 2 to 1000.
As for the value of the bitcoin being a too large number (it IS a psychological barrier if the value would be several 1000 or 10000 or 100000). You can allways revert to using the unit of mBTC, µBTC or even 1 Satoshi)
good point, bad conclusions.To give you an idea: the ECB is creating between now and next 2 year 1000 billion Euro out of nothing, thats 1e12 euros. All this only will cause some minor inflation of some percentagepoints.
As a comparison in 2 years time about 2.6 million btc are created. Divide those 2 and you get a really big number of euros per bitcoin.
This is just to show what could happen if bitcoin would be accepted as a curreny next to the euro or usd. The value would rise immensly (and not to 100k, but to several million per btc).
Will this happen? Or will the btc value just linger or go to zero ? Nobody can tell you.
For me the main reason for a rise would be some external event triggering this: major European country going bust, even events with Greece or end of Eurozone could make things moving VERY quickly.
If that happens the financial world could shift enourmous amounts of money very quickly. I think now several of them are just slowy accumulating in case of.
To be able to absorp the rise, the bitcoin protocol needs to be readyto play in the major leage and lots of development still needs to be done. But I think that is coming along nicely.
So yes I think 100 bitcoin will be a lot of money. It will in fact be a huge amount of money. When is difficult to predict.
Also when btc starts rising it will be immensly difficult to keep all that 100 btc together. There's just no way somebody can keep his nerves when seeing btc rise to 1000, then a few thousand, and so on.
Everybody will be tempted to sell off some (or even a major part) of it.
We've seen that happen in the rise from 0.01 to 30 and then again from 2 to 1000.
As for the value of the bitcoin being a too large number (it IS a psychological barrier if the value would be several 1000 or 10000 or 100000). You can allways revert to using the unit of mBTC, µBTC or even 1 Satoshi)
Let's take M0 money supply, just for US dollar.
according to this source: http://de.tradingeconomics.com/united-states/money-supply-m0, it is 3 840 341 Million USD. Today.
Now, let's compare that to the current Bitcoin market cap. it is, according to this source: http://coinmarketcap.com/, 3 583 Million USD. Meaning 1000 times less.
So, a small fraction of M0, for now. Now, how realistic is the assumption that Bitcoin can increase its market cap 10, 100, 1000 times from here?
Financial meltdown? Well, it should have happened back in 2008, and we are kicking the can ever since. I don't see it coming any time soon. Too big to fail, simply.
The question is, would Bitcoin survive that long?
renting 3 hookers a day would cost more so i may as well keep her ......
If you need 3 hookers to replace her, I think she's a keeper.
Ain't no luvin like the sweet love of a banana skin. Also provides a tasty treat to wedge in your mouth as well.
10k? Too optimistic...expect around 3k max per bitcoin but you will have nice profit anyway 
Give us a breakdown of why you think so. I'm not dissing it. I'm just curious.
10k? Too optimistic...expect around 3k max per bitcoin but you will have nice profit anyway
maybe 2020 bitcoin already dead,no hope bitcoin 
Maybe, but if it's not dead, then it's probably a lot higher than today.
maybe 2020 bitcoin already dead,no hope bitcoin
The short answer: YES, you will be very rich and an fiat-millionaire with 100 Bitcoins in 2020.
It just struck me again that it really doesn't matter how the price behaves theses days in terms of '1$ up' or '1$ down' or whether you have 1 BTC, 10 BTC or 100 BTC. In 2020 you may be rich in either case.
MAYBE with 100 BTC... but certainly not with 1 or 10 BTC lol
Are you sure? I mean... The price could very well go up to $100'000. Sure, today this seems rather unlikely and crazy, but if we're at $10'000 some day it'd only take an increase by 10x!
Since I have about 50 btc myself, and since nothing good ever happens to be in terms of money, yes I'm sure
It just struck me again that it really doesn't matter how the price behaves theses days in terms of '1$ up' or '1$ down' or whether you have 1 BTC, 10 BTC or 100 BTC. In 2020 you may be rich in either case.
MAYBE with 100 BTC... but certainly not with 1 or 10 BTC lol
Are you sure? I mean... The price could very well go up to $100'000. Sure, today this seems rather unlikely and crazy, but if we're at $10'000 some day it'd only take an increase by 10x!
renting 3 hookers a day would cost more so i may as well keep her ......
If you need 3 hookers to replace her, I think she's a keeper.
I have 100 bitcoins. Its 2015. I'm already a millionaire... Do I win £5?
No ,because a million isnt much thesedays
there isnt even a small house in my area for under a million
it takes several million to have a good life thesedays especially if you have a wife and kids
Yeah, women are expensive. They want to eat out and go to the cinema constantly. So do what I did! Dump her and buy bitcoins for the money you saved
renting 3 hookers a day would cost more so i may as well keep her ......
I have 100 bitcoins. Its 2015. I'm already a millionaire... Do I win £5?
No ,because a million isnt much thesedays
there isnt even a small house in my area for under a million
it takes several million to have a good life thesedays especially if you have a wife and kids
Yeah, women are expensive. They want to eat out and go to the cinema constantly. So do what I did! Dump her and buy bitcoins for the money you saved
I have 100 bitcoins. Its 2015. I'm already a millionaire... Do I win £5?
No ,because a million isnt much thesedays
there isnt even a small house in my area for under a million
it takes several million to have a good life thesedays especially if you have a wife and kids
It just struck me again that it really doesn't matter how the price behaves theses days in terms of '1$ up' or '1$ down' or whether you have 1 BTC, 10 BTC or 100 BTC. In 2020 you may be rich in either case.
MAYBE with 100 BTC... but certainly not with 1 or 10 BTC lol
I have 100 bitcoins. Its 2015. I'm already a millionaire... Do I win £5?
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