[2017-11-19] Prominent Politician Promoting Bitcoin-Based Retirement Investments

roddy5

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Quote from: Jgilpulg on November 19, 2017, 09:05:54 AM

Bitcoin is a store of value. Its value already surpasses the value of gold. And most significantly, one of Bitcoin’s main features is that it is inflation resistant. These features make Bitcoin an attractive option as a retirement investment.

Continue reading here:

https://bitcoinist.com/prominent-us-politician-promoting-bitcoin-based-retirement-investments/

It is true that Bticoin's price is surpassing gold's price and inflation is impossible when it is used as a currency because of the fixed number of supply, but using it for retirement investment is quite risky. Bitcoin's price is still unstable and there is still a chance that it will drop if every nation declares it as illegal. Then when will happen to their retirement investment? Maybe we can just leave the decision to each individual if they are going to invest on bitcoin or just keep their fiat investments for retirement.

darkangel11

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Don't let others control your BTC -> self custody

He should first push for the laws to be clearly formulated, especially that part about transmitting money that is being used to weed out the wealthier traders.
How can we on one side have BTC being compared to stocks and gold and on the other people are being pushed around like criminals and robbed of their money because they sold some coins via localbitcoins? Anyway, promoting cryptocurrency investments is an all or nothing move. He will either be remembered as a visionary that raised awareness and helped people make money or BTC goes down and they'll lose their retirement money. Guess who they're going to blame if the latter happens.

aso118

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If your retirement is a long time away, you can set aside a small portion of your corpus for Bitcoin and other cryptocurrencies. They can provide a boost to the value of your portfolio. However, it is not worth taking a risk if you are only a few years away from retirement.

BitHodler

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Quote from: RedX on November 20, 2017, 04:01:48 AM

This is really a good option for retirees because here in our country, government always fail to send pension to them which is very unacceptable. When you get old, there is a lot of medical maintenance so it's better to trust bitcoin than any retirement investments offered by the government.

It only make sense if people buy Bitcoin themselves instead of depending on pension funds to maintain and properly spread out everything once people retire. But then again, do people trust themselves enough to do it themselves?

I very much doubt that when it comes to the majority of the people. People for some reason aren't capable of taking everything in their own hands, which is why it's better to let them depend on another party.

I could do it myself since I am very firm when it comes to all financial aspects, but there unfortunately aren't ways to make the retirement capital that you're building up throughout the years be converted into Bitcoin.

richardsNY

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More people using Bitcoin as long term store of value means that it will greatly help in getting as many coins as possible off the exchanges/market, and that while the demand is constantly increasing. In order to take things to the next level, we need more regulations to take place, the sooner the better. It however takes quite some time for governments to catch up with everything related to the crypto market, so it may take years before we see this become reality on a large scale. It's safe to say that governments have been sleeping for too long, which is why they are severely lagging behind with everything.

MoonJeina

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Quote from: Jgilpulg on November 19, 2017, 09:05:54 AM

Bitcoin is a store of value. Its value already surpasses the value of gold. And most significantly, one of Bitcoin’s main features is that it is inflation resistant. These features make Bitcoin an attractive option as a retirement investment.

Continue reading here:

https://bitcoinist.com/prominent-us-politician-promoting-bitcoin-based-retirement-investments/

This exactly is the golden feature of bitcoin that it is inflation resistant . Few years back , until Satoshi no one thought about such currency . It is very good to know that not only the young generation but the elderly are also coming forward to promote bitcoin and educate about it to other people .
After retirement there is not much to do , bitcoin can keep such people busy and one can get some real good profit and money out of it .Such remarks and such positive judgements are much needed for bitcoin.

Basmic

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All this is correct but only in the moment. People now knows what will happen with bitcoin in a year? When it comes to pension savings, it is about several decades. Suddenly bitcoin will go bankrupt? Can you imagine what will happen to retirees if the retirement their savings will be equal to zero? To rectify the situation will not happen.

Guardian.P

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More people will do this when they learn that their loved ones are successful in this. People will see that it is safe and profitable, many simply observe it. When there is enough conviction, they will come to this

RedX

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This is really a good option for retirees because here in our country, government always fail to send pension to them which is very unacceptable. When you get old, there is a lot of medical maintenance so it's better to trust bitcoin than any retirement investments offered by the government.

Jgilpulg

member

Activity: 137

Merit: 10

Bitcoin is a store of value. Its value already surpasses the value of gold. And most significantly, one of Bitcoin’s main features is that it is inflation resistant. These features make Bitcoin an attractive option as a retirement investment.

Continue reading here:

https://bitcoinist.com/prominent-us-politician-promoting-bitcoin-based-retirement-investments/

Topic: [2017-11-19] Prominent Politician Promoting Bitcoin-Based Retirement Investments (Read 3391 times)