Adoption of crypto in retirement savings plans growing

wxa7115

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Quote from: cudora on November 28, 2019, 02:57:38 AM

Hopefully, sooner or later we would reach the mass adoption, because the whole picture in 2019 is very disappointing. No new good projects are going live, old coins are falling in price and the mass adoption is still on the same level.

I think you have a mistaken idea of how long it will take for the mass adoption to happen, this is not something that will happen in a few years especially when bitcoin is not ready for the mass adoption anyway since it cannot deal with millions of users all trying to use the network at the same time and until that is true then do not expect that kind of mass adoption.

And even when we get that it will take some time before people begin to use bitcoin but there are some good news the economy is not doing as well and if it begins to go down then people will look for alternatives and when that happens then bitcoin will be there to offer them the option they are looking for.

cudora

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Hopefully, sooner or later we would reach the mass adoption, because the whole picture in 2019 is very disappointing. No new good projects are going live, old coins are falling in price and the mass adoption is still on the same level.

wxa7115

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Quote from: fuguebtc on November 23, 2019, 02:01:55 PM

I dont think investing your retirement money in crypto is great idea. Crypto market is volatile and at the age of 60+ you dont have the abilities to learn crypto and do trading. Retired ppl need to invest in government saving schemes from where they can get return with 0 chances of all.

The truth is that this is a very complex issue, while investing in government saving funds may seem like to be like a good idea we also know that most governments are heavily indebted and we also know that they are printing too much money so if you are relatively young there is no guarantee that any money that you put in your retirement account is going to be there waiting for you when you retire.

This is forcing us to look for alternative investments, some may think that the stock market could be a good place where to put your money but I think that a crash in the stock market is inevitable, so as you can see we do not really have a lot of options and to me one of the best that we have is to invest in cryptocurrencies.

fuguebtc

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I dont think investing your retirement money in crypto is great idea. Crypto market is volatile and at the age of 60+ you dont have the abilities to learn crypto and do trading. Retired ppl need to invest in government saving schemes from where they can get return with 0 chances of all.

Cacingkemi

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Some people believe in crypto growth in the future so they don't want to be left behind to invest from now on and make it a retirement savings plan. but only certain people can do this, because not everyone knows about digital currencies so that if crypto cannot continue to be popularized then investors who will enter crypto cureency will not have strong growth in the future.

tsaroz

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It's a cool investment for the future but current volatility in price of crypto would make people hesitant to do a retirement savings in crypto. What if you won't be able to get money even equal to what you invested today after your retirement. For a long term investment, people still prefer fiat who's value are not so volatile in market.

ven7net

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I do not even know what to say. Of course, this may be attractive news for crypto enthusiasts, but for the total number of people who have no idea what bitcoin is unlikely to be like if their pensions will be issued in cryptocurrency. Also, do not forget that the price of bitcoin is not stable and has great volatility. Of course, there are 50 to 50, you can both earn and lose.

wxa7115

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Quote from: beerlover on November 19, 2019, 01:14:35 AM

I am one of the people who have a retirement plan with bitcoin in it. I don't know what life holds for me and if I would ever need it before retirement but I do have some savings in my bank account and additionally some bitcoins that I want to keep forever and even buy some every month.

In a perfect world I would never use any of that and let them grow over time and when I retire (I still have 30 years to retire) I would have 3 sources of income, one is my retirement plan that I pay from my salary, the other is the savings account that I have from money I saved from what I didn't spent from my salary, the third is bitcoins that I have.

Now, I know 30 years is a long long time and I will be 60 by that time so we have no idea what will happen but if everything goes according to plan my children will get a ton of money and a ton of stuff from me when I die.

If most people had the same vision as you then we will not have as many economic problems as we have now, most people are only thinking about the now and do not think about their future and I see a lot of people with that kind of attitude in my country, they do not have any savings and they do not invest their money either, they are relying on their retirement plan to pay for them when they are old when we do not even know if there will be funds for the retirement plan in the future.

And there are many people that do not even have that and seem to plan to work for the rest of their lives, in my case if bitcoin goes up moderately during the next decades then it will make my life easier but if it really skyrockets then I could retire early and enjoy an easy life.

joinfree

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This is really great and a boost to the adoption of cryptocurrencies. I hope the savings of these cryptocurrencies would be done in stable coins just to provide a strong hedge when the market goes extremely volatile. If not so, in such circumstances it would render some investors hopeless as their saved funds would be worth nothing.

Also, does Coinbase offer any form of interests to such users?

Metall303

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Are you not surprised that such news does not affect the price of cryptocurrencies in any way? everything continues to fall and nothing changes. for me, it becomes obvious that this is done on purpose and someone does not allow the price to go up

Kvalentine

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Quote from: biddicoin on November 20, 2019, 01:16:52 PM

retirement savings aim to keep earning money in old age. this should require a stable currency.
while cryptocurrency is known as a very volatile currency.
this is very dangerous because it could be in old age, crypto will lose some or all of its value

Plans for retirement should be in investments so to make this happen its good to go for coons with potential, do you think crypto will fail as a technology? i guess not, look back to realize how far crypto have come now big companies are implementing crypto wallets in their new smartphones

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Quote from: naikturun on November 20, 2019, 11:44:08 PM

Retirement savings coupled with Crypto is quite attractive, but the need in input in the list is the top ranked coin.
30 is too much in my opinion, but if it is ineffective they will change that rule.
im planning to use this metode to myself

Yes, that will work well for you, especially if you have the potential coin, which will increase in the long-term. That will give you a big profit from the crypto, and you will have your savings bigger, but the crypto will give you a lot of money.

I already save bitcoin, ethereum, litecoin, dash, another coin in the top ten list, and more so I can prepare my future. I am sure that many others will do the same. We will go to see the adoption process will grow in the next year.

naikturun

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Retirement savings coupled with Crypto is quite attractive, but the need in input in the list is the top ranked coin.
30 is too much in my opinion, but if it is ineffective they will change that rule.
im planning to use this metode to myself

bgaf

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What is actually means by insurance on investing? I dont see any advantage here although they got backed up from British empire. Investment has it own risk especially in crypto space and I can find its risk on its own. Even the projects that are listed are very well known. Coinbase cannot secure a pure profit out of an investment scheme.

BitHodler

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Quote from: biddicoin on November 20, 2019, 01:16:52 PM

retirement savings aim to keep earning money in old age. this should require a stable currency.
while cryptocurrency is known as a very volatile currency.
this is very dangerous because it could be in old age, crypto will lose some or all of its value

Agreed. I find it not a problem to allocate some of my retirement savings to crypto, but it shouldn't drag down my whole portfolio if shit hits the fan and prices drop 80-90%, because you will heavily regret it.

One can be a perma bull, but don't let it affect you on an emotional level where you make one irrational decision after another. I feel that a lot of people within crypto are emotionally attached to their investments.

I understand that people want their crypto investments to do well because they want to get rich and potentially stop working for a boss, but for most people it simply will not work out like that.

Most people here have pie in the sky illusions about how their investments will play out. It's risk you can take with a small portion of your capital, but definitely not something you should dump all your money in.

JeffBrad12

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Quote from: biddicoin on November 20, 2019, 01:16:52 PM

retirement savings aim to keep earning money in old age. this should require a stable currency.
while cryptocurrency is known as a very volatile currency.
this is very dangerous because it could be in old age, crypto will lose some or all of its value

that's my concern aswell, retirement saving is not something that we can use to play but instead it's an absolute need to be able to survive in the old days and investing into volatile currency could potentially goes against ourselves. Even if the retirement savings still being used to invest into cryptos I'd suggest only small portion of it. This idea is honestly crazy, you only have 1 chance to have retirement savings and you are risking it for something frivolous like this. If it were me I don't do that.

passwordnow

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Quote from: Lanatsa on November 20, 2019, 11:49:31 AM

Quote from: passwordnow on November 19, 2019, 01:31:23 PM

We don't know what will be the state of the market during our retirement that's why for me it's risky for everyone especially those that don't conduct research. As a person that's aware of crypto's volatility I understand the factors that might change crypto's state because it's very unpredictable. That is why I've said that this isn't for all age. Just like the 2017 ATH, there might be people that would lean their retirement plans through this kind of service without understanding the risk.

In short they have been dragged with FOMO and hype in that case specially to those who had experienced that 2017 bull run.I don't know why there are people who do really recognized crypto to be part of their savings plan.As said its too risky to consider on putting up or rely our savings on it yet nothing is certain on crypto space.
Yes, its rewarding when the market booms up but what if it would go to the opposite way? that's a big mess up.

I consider it as part of my savings but my whole savings isn't dwelling into crypto. A big portion I must say that's why if I'm in need, I have something pull out of my pocket and if the market isn't so great, I wouldn't move anything from my crypto savings.
The retirement thing is much more of my concern, yes there might be people that will get into it through FOMO and will never understand what they'll doing because they don't look at the side of understanding it.

imutlinda

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Quote from: biddicoin on November 20, 2019, 01:16:52 PM

retirement savings aim to keep earning money in old age. this should require a stable currency.
while cryptocurrency is known as a very volatile currency.
this is very dangerous because it could be in old age, crypto will lose some or all of its value

if it aims to invest it might be utilized, so it depends on the original purpose. the most important thing is the ability of the investment and if you really want to make these funds for investment you should choose a coin that has potential

biddicoin

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retirement savings aim to keep earning money in old age. this should require a stable currency.
while cryptocurrency is known as a very volatile currency.
this is very dangerous because it could be in old age, crypto will lose some or all of its value

Lanatsa

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Quote from: passwordnow on November 19, 2019, 01:31:23 PM

Quote from: Wintersoldier on November 18, 2019, 03:30:56 AM

Quote from: passwordnow on November 17, 2019, 04:34:01 PM

I have invested a bit for my retirement but I think this idea is quite risky for many. We don't have the same take with risk taking but it's all like a gamble to most of the users of that service.
I'm an enthusiast with crypto as a whole but I find this doesn't suit for all ages. Some newbies might take this an opportunity without doing further research.

I could be effective if the retirement investment is on a stable coin, though, for some risk-takers, they can choose cryptos that are for investment purposes such as bitcoin. To make it short, this retirement savings would be beneficial for us to have funds whenever in case we leave our beloved jobs. It is better if we have options to invest in risk-free, or with risk but the return is quite bigger if we succeed. I hope health insurance should also adopt this kind of investment platform too.

We don't know what will be the state of the market during our retirement that's why for me it's risky for everyone especially those that don't conduct research. As a person that's aware of crypto's volatility I understand the factors that might change crypto's state because it's very unpredictable. That is why I've said that this isn't for all age. Just like the 2017 ATH, there might be people that would lean their retirement plans through this kind of service without understanding the risk.

In short they have been dragged with FOMO and hype in that case specially to those who had experienced that 2017 bull run.I don't know why there are people who do really recognized crypto to be part of their savings plan.As said its too risky to consider on putting up or rely our savings on it yet nothing is certain on crypto space.
Yes, its rewarding when the market booms up but what if it would go to the opposite way? that's a big mess up.

Topic: Adoption of crypto in retirement savings plans growing (Read 501 times)