100 bitcoins. Will I be a millionaire by 2020? - page 40.

rjclarke2000

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Quote from: Bagatell on March 10, 2015, 07:36:56 AM

Quote from: Herbert2020 on March 10, 2015, 07:26:22 AM

to be a millionaire with 100 BTC the price should rise higher than $10,000 per BTC to only have 1 mil. and i highly doubt that the price can rise that high by 2020.

Oh ye of little faith.

https://bitcointalksearch.org/topic/m.9293350

I can wait until 2024 to get my 5 million dollars. Seems a good deal. 😉

Brewins

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Quote from: futureofbitcoin on March 10, 2015, 05:18:36 AM

Quote from: ekissane on March 10, 2015, 04:51:32 AM

$5m and live frugally? Over 40 years (assuming I die at 82) that's $2400 a week. That is far from frugal my friend!

Again, I said that "frugal" for an upper-class person. 2400 a week isn't enough for a bottle of $1000 wine per day, for example.

Besides, a house in a bigger city like LA, San fran, New york or Vancouver will take a huge chunk out of that 5mil. If you get another vacation house or something in tokyo or somewhere, you're left with half of that money left. And then a car every few years, car insurance, land tax, etc etc etc, yeah. 5 Mil is not a lot.

depends where you live.

In thailand for example you'll be the king with $2400/week

But maybe not in swiss or Norway

ThatDGuy

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Quote from: Benjig on March 10, 2015, 02:33:58 AM

50% you can get a ton of money feom 100 btc on 2020 and 50% it can be a worthless digital currency by then.

I don't think the percentages are so skewed towards failure, and that percentage of failure drops lower every day, and with every announcement like this:

http://blogs.wsj.com/digits/2015/03/10/secretive-bitcoin-startup-21-reveals-record-funds-hints-at-mass-consumer-play/

$112m invested in the ecosystem.

Bagatell

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Quote from: Herbert2020 on March 10, 2015, 07:26:22 AM

to be a millionaire with 100 BTC the price should rise higher than $10,000 per BTC to only have 1 mil. and i highly doubt that the price can rise that high by 2020.

Oh ye of little faith.

https://bitcointalksearch.org/topic/m.9293350

Herbert2020

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to be a millionaire with 100 BTC the price should rise higher than $10,000 per BTC to only have 1 mil. and i highly doubt that the price can rise that high by 2020.

FUR11

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FURring bitcoin up since 1762

I think you could very well be a millionaire with 100 BTC. One thing you could try to do is trade the major waves, to increase your holdings even further - but please keep in mind that you may also lose your BTC very quickly by doing so.

Monetizer

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Unfortunately I do not think you will be a millionaire however I think you might have a fair amount of money by that time. It is not impossible for that to happen, I guess this is like when bitcoin hit $150 for the first time and I thought that would be the highest price we would see for a long long time Tongue

futureofbitcoin

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Quote from: ekissane on March 10, 2015, 04:51:32 AM

$5m and live frugally? Over 40 years (assuming I die at 82) that's $2400 a week. That is far from frugal my friend!

Again, I said that "frugal" for an upper-class person. 2400 a week isn't enough for a bottle of $1000 wine per day, for example.

Besides, a house in a bigger city like LA, San fran, New york or Vancouver will take a huge chunk out of that 5mil. If you get another vacation house or something in tokyo or somewhere, you're left with half of that money left. And then a car every few years, car insurance, land tax, etc etc etc, yeah. 5 Mil is not a lot.

ekissane

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Quote from: futureofbitcoin on March 10, 2015, 12:19:48 AM

Quote from: CoinCidental on March 09, 2015, 02:10:48 PM

Quote from: Enjorlas on March 08, 2015, 07:54:31 PM

What people aren't realizing is that if you do become a Millionaire in Bitcoin, the second you cash out you will have to pay a 40% capital gains tax, which will leave you with only $600k. Socialism FTW!

anyone who ends up with over a million or several million $ worth of btc could easily fly to switzerland or the emirates or china etc or wherever there is no or very little tax to be paid

trying to bring the cash back home would be stupid though so i would probably live in an alternative country than give up half my money for tax ..........

A million isn't really enough to do much these days. 5 million is probably barely enough if you live frugally* and you are single. If you have a family, you'll probably need 20M+.

*Frugally, in the context of being upper-class. No $1000 bottles of wine everyday, no caviar and truffles with wagyu everyday, no vacation villas around the world, etc.

$5m and live frugally? Over 40 years (assuming I die at 82) that's $2400 a week. That is far from frugal my friend!

PaulPierce

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It would be good to see but unfortunately I do not thing so. I am hoping to double my money from here in a year or two but I don't see it going up to much from there in the short term.

Benjig

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50% you can get a ton of money feom 100 btc on 2020 and 50% it can be a worthless digital currency by then.

micky123

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Quote from: futureofbitcoin on March 10, 2015, 12:19:48 AM

Quote from: CoinCidental on March 09, 2015, 02:10:48 PM

Quote from: Enjorlas on March 08, 2015, 07:54:31 PM

What people aren't realizing is that if you do become a Millionaire in Bitcoin, the second you cash out you will have to pay a 40% capital gains tax, which will leave you with only $600k. Socialism FTW!

anyone who ends up with over a million or several million $ worth of btc could easily fly to switzerland or the emirates or china etc or wherever there is no or very little tax to be paid

trying to bring the cash back home would be stupid though so i would probably live in an alternative country than give up half my money for tax ..........

A million isn't really enough to do much these days. 5 million is probably barely enough if you live frugally* and you are single. If you have a family, you'll probably need 20M+.

*Frugally, in the context of being upper-class. No $1000 bottles of wine everyday, no caviar and truffles with wagyu everyday, no vacation villas around the world, etc.

Lol, everyone fly to India and live here. It is very cheap to live in India atm. I have chatted with many folks on gambling websites and other chat rooms for bitcoin / crypto and find that India is one of the cheapest places to live in. If i get $5m, i can retire peacefully and i need not live very frugally either!

. An amazing 3 BHK apartment in one of the posh neighbourhoods in Bangalore, India would cost me $150000, A luxury car like an Audi (in India Audi defines luxury) would cost me $60000. Food is cheap and yes, i am not talking about Indian food alone, Bangalore caters to the palate of the world. Travel is also fairly cheap cause petrol / diesel is much cheaper than in the US. Ofc, we have our share of poor folk, but if you live in that $150000 apartment, you will not see these folk on a daily basis.

Wary

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Who's there?

Quote from: gentlemand on March 09, 2015, 04:53:56 PM

Quote from: Wary on March 09, 2015, 04:48:23 PM

For Americans moving to other country won't be enough. They have to give up their citizenship and wait several years till IRS releases their grip. So, don't wait till bubble, move now

And if your native language is English, you may want to choose New Zealand. No capital gain tax, palms, beaches and everybody speaks English.

That's a bit of a radical move to save some cash. I'd swallow the tax and enjoy my life, but it depends on how happy and tied you are to your home country.

The idea of sitting in a tax haven counting off the days for when you can restart your old life is worth giving up a chunk of money.

It depends on what your old life was, but chances are you'll be able to restart it immediately. For example, if you cannot imagine your life without commuting through traffic jams, you'll find plenty of them in Auckland

jt byte

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It's hard to predict. Only hold bitcoins you can afford to lose.

futureofbitcoin

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Quote from: CoinCidental on March 09, 2015, 02:10:48 PM

Quote from: Enjorlas on March 08, 2015, 07:54:31 PM

What people aren't realizing is that if you do become a Millionaire in Bitcoin, the second you cash out you will have to pay a 40% capital gains tax, which will leave you with only $600k. Socialism FTW!

anyone who ends up with over a million or several million $ worth of btc could easily fly to switzerland or the emirates or china etc or wherever there is no or very little tax to be paid

trying to bring the cash back home would be stupid though so i would probably live in an alternative country than give up half my money for tax ..........

A million isn't really enough to do much these days. 5 million is probably barely enough if you live frugally* and you are single. If you have a family, you'll probably need 20M+.

*Frugally, in the context of being upper-class. No $1000 bottles of wine everyday, no caviar and truffles with wagyu everyday, no vacation villas around the world, etc.

gentlemand

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Welt Am Draht

Quote from: Wary on March 09, 2015, 04:48:23 PM

For Americans moving to other country won't be enough. They have to give up their citizenship and wait several years till IRS releases their grip. So, don't wait till bubble, move now

And if your native language is English, you may want to choose New Zealand. No capital gain tax, palms, beaches and everybody speaks English.

That's a bit of a radical move to save some cash. I'd swallow the tax and enjoy my life, but it depends on how happy and tied you are to your home country.

The idea of sitting in a tax haven counting off the days for when you can restart your old life is worth giving up a chunk of money.

Wary

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Activity: 798

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Who's there?

Quote from: CoinCidental on March 09, 2015, 02:10:48 PM

Quote from: Enjorlas on March 08, 2015, 07:54:31 PM

What people aren't realizing is that if you do become a Millionaire in Bitcoin, the second you cash out you will have to pay a 40% capital gains tax, which will leave you with only $600k. Socialism FTW!

anyone who ends up with over a million or several million $ worth of btc could easily fly to switzerland or the emirates or china etc or wherever there is no or very little tax to be paid

trying to bring the cash back home would be stupid though so i would probably live in an alternative country than give up half my money for tax ..........

For Americans moving to other country won't be enough. They have to give up their citizenship and wait several years till IRS releases their grip. So, don't wait till bubble, move now. To New Zealand. No capital gain tax. Palms, beaches and everybody speaks English.

CoinCidental

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Si vis pacem, para bellum

Quote from: Enjorlas on March 08, 2015, 07:54:31 PM

What people aren't realizing is that if you do become a Millionaire in Bitcoin, the second you cash out you will have to pay a 40% capital gains tax, which will leave you with only $600k. Socialism FTW!

anyone who ends up with over a million or several million $ worth of btc could easily fly to switzerland or the emirates or china etc or wherever there is no or very little tax to be paid

trying to bring the cash back home would be stupid though so i would probably live in an alternative country than give up half my money for tax ..........

tyrexs

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i think is good u for trading it's better. if u holding bitcoin price will crash

uki

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cryptojunk bag holder

Quote from: BillyBobZorton on March 08, 2015, 03:37:16 PM

Quote from: bigtimespaghetti on March 08, 2015, 03:30:07 PM

No one knows. But my belief is that if Bitcoin survives it will be worth more than it is now. I truly have no idea how much that might be though.

We are talking 5 figures for sure if we keep gaining traction in terms of transactions and adoption rate, we must engulf all electronic mone transactions and make VISA and friends obsolete.

I suppose Visa and friends are in this business not from yesterday and they won't give up their market share that easily. they also have their people working on innovation and they will improve their offer, if needed.

Topic: 100 bitcoins. Will I be a millionaire by 2020? - page 40. (Read 77434 times)