Topic: Bitcoin as a Retirement Account - page 10. (Read 22749 times)

lol bitcoin as a retirement account is not agood idea...coz once if ur private key i guessed by hacker all your retirement will be gone...so think of it

The meaning of my post is who pay with bitcoin the salary and not where can be send the money from the work of the person. As I know no one paid with bitcoin (even coinbase itself) but with the real fiat money. So, to use bitcoin as a retirement tool must be someone which pay in this currency. Anyhow must be a way to realize this. Be paid in your country fiat money and then part of salary use to buy a quantity of bitcoin. Then those be save in a wallet. But even this it is not possible to realized because not from any country can be bought bitcoin and the fee are high. So can be expensive and not worth to do.

For the vast vast majority of bitcoin investors, they would have to use a service that have scheduled transfers/buys to do this.

i.e. Coinbase

With it you can schedule weekly purchases which can be sent to a multi sig vault

Although.. if you use this method, it still takes self discipline to not spend it too soon

It's what i have been thinking about my future financial, it will be great because you have own bank.
the problem is just come from bitcoin ecosystem itself.

It would be a good idea? Anyhow I'm wondering from who do have the founds this employer? Who work with bitcoin today? I heard some people in Polonia but I don't know if they continue to do this after the drop of the price of bitcoin. Then when do you find the safety that the price of bitcoin will not go 2 us dollar in your time of retirement. What do you do in this case? I personally don't believe that but who knows the future? Third why don't do this with your fiat money of your country? It is not more secure this?   

Yes I too agree that we shouldn't put our most of the money in these high fluctuating investments. I choose gold for long term returns.

I too agree with you, if any one investing to use funds in their retirement they should choose very stable investments like gold or investing in real estate or bank fixed deposits. The investment option is based on individual and how much they can take risk. But I would say they can also buy some coins to try it out their luck as well.

Yes what you said is 100% correct. The retirement funds should be linked to so called quite stable returns investments not very unstable investment products. If you look at bitcoin price it have went 1000+ and came back to 200+ in just year or two. People want to spend retirement life peacefully so definitely bitcoin is not a good idea but they can put some money ( very little %) in it enjoy the success if prices move up.   

This is about the most sensible reply I've seen so far, I believe the same thing.

Bitcoin as a retirement Account is like gambling in casinos whether you will win or lose all your money, in the long term  run , we cannot tell what will be the situation of bitcoin after say like 15 or 20 yrs after. Because still Bitcoin is not acceptable worldwide, and their are so many issues which are to be solved before it becomes completely workable.

You can go for like 50% of your  Retirement Account investment in Bitcoin because if it lives till then, then you might see a handsome of return in  bitcoin then any other investment you can expect.

Retirement account is nice term to describe as for future use that's after some 20 or 25 years. If we are able to hold bitcoins for long term then it would be very nice to get handsome returns from bitcoin.

Hmm I think it's not a bad idea though we will not know what's gonna happen in the future including about bitcoin.
It's like a 50-50 of chance like gambling because of its volatile nature.
So I'd better play safe by spending more bitcoins in investment like land, housing, or gold and also keep the rest bitcoins by hoping for its stable or even higher price in the future.

I think most traditional investing experts say the key to investing is diversification. For anyone with that perspective, I think it makes sense to have at least a small investment in Bitcoin if your goal is to have a diversified portfolio. Even if you think an investment is not going to be profitable, the investment could still be seen as a beneficial hedge for a portfolio, in case something extreme happens (that’s why many people who don’t like gold still own gold -- if there's a financial crisis that kills all their investments, the assumption is that gold will move in the opposite direction).

Volatility affects someone with a short time horizon, which is why day traders love volatility. And that's why I’d argue that long term investors don’t have reason to care about volatility. The longer you expect to hold Bitcoin, the less volatility matters. If a speculative investment in a portfolio drops 50% in a day, you're not planning to access that investment for ten years anyway, so it just doesn't affect you (well, except perhaps emotionally). In a volatile market, one might want to set automated monthly buys, to “dollar cost average” into the volatile investment (and help avoid the poor judgement that humans can make about timing the market). That said, I think it makes sense to buy Bitcoin on dips (kind of the opposite of traders who avoid “falling daggers"). But it can take steel nerves to buy when most are seeing doom.

At least that’s how I see it.

having retirement funds in bitcoin might not be a fantastic idea in the current economy, the volatility could lead to financial insecurity in the case of a price drop. if bitcoin becomes more stable and living solely on bitcoin becomes a realistic and convenient possibility in the future, maybe.

The question is not just about whether bitcoins should form part of your portfolio - it is also about what percentage of your portfolio should be in the form of bitcoins. It should be a small percentage. Even if Bitcoin crashes to zero, it shouldn't break your back.

With the way the economy is going these days, I don't see a real problem with these alternative ways of making money. I tell my friends that I post on this forum and get paid from signature campaigns and they tell me to get a real job - one that does not involve sitting in front of a  computer. Work is work and while I may not be "employed" I am still doing my best to stay self sufficient and take care of myself.

No investment is perfectly safe, there's always risk involved. The question is whether the risks of owning Bitcoins are right for you. As part of a healthy investment portfolio I think it's a great idea. For flipping quickly? No, probably not.

Haha, volatility issues have existed regarding bitcoin from the time it came around, it was the reason people were attracted to it and now people despise it, because its going the wrong direction they expected it to A lot of countries have modified their laws in terms for bitcoin to grow, a recent example woul be Australia. Knowing about the disagreement and launch of the XT project, I have a little fear too now.

this is pretty spot on.

most people can find work, but its the pay gets them that they deserve better. I personally think everyone is employed now since bitcoin is around and that includes people posting to earn btc.

I was going to mention about volalitily. But yeah frankly most people dont see it reasonable to call it a retirement due to recent events.

You can only imagine just because bitfnex effects like a couple grand if you heavily relied on the coin. I honestly dont think its consider restirement if it cant hold a solid price point.

I would just be better off buying a home and keeping in bonds or something similar to what you mentioned.