Topic: Bitcoin as a Retirement Account - page 14. (Read 22749 times)

Quote from: Sunderland on October 31, 2014, 07:48:13 AM

hmm nice idea , i will do that soon.
spare some income every month to bitcoin and keep that for couple years.
maybe it will worth alot in the future , or that will great legacy to my sons Grin

but that can happen if bitcoin still worth in the future.

I have a gut feeling that bitcoin will be worth 10x, 30x more than what it is today, and that day isn't that far. Just a couple years down the line, let's say 10 years and bitcoin's price will be 10x considering things are developing and rising exactly how they are in today's pace.

Comparing bitcoin to the current gdp, assuming things go our way and people put their savings money down and invest unto thr bitcoin venture, the value of a single bitcoin can rise upto 1 million dollars. Considering people put down money more than just their savings,nthe value can shoot even much more. However, thats just an assumption/theory and a dream.

yes, but this is a dream which might actually come true. Recent adoption and support bitcoin has supported is gradually going higher than vice versa, it is receiving fair attention from people. The Greek economic collapse made people realize how dangerous centralized currency can be, and how banks can screw its customers at their worst times. Bitcoin is a suitable alternative, if not a replacement.

Its still ongoing, and this was just the beginning, it will be far worse from 6 months now.

Nothing has been resolved, and the problems, as usual, are only postponed until they become twice bigger.

This banking system will collapse, and it will take the pension with it, bitcoin pension would be a smart idea to do now, until you got any savings left.

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Quote from: LFC_Bitcoin on July 08, 2015, 11:47:00 AM

I think this is a great idea & I'm sure if employers were willing to integrate or adapt their pension schemes to include BTC then it's a definite possibility that people would be willing to use it.

Most pension schemes with banks or brokers make you invest a fixed amount of fiat that comes out of your wages every month over a number of years (say 30-40).

Why do we need employers to sort our pensions out? We can do that ourselves and I think it's better to save money yourself rather than rely on state pensions or employer ones. Bitcoin allows us to become our own banks and that's what's great about it.

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I think this is a great idea & I'm sure if employers were willing to integrate or adapt their pension schemes to include BTC then it's a definite possibility that people would be willing to use it.

Most pension schemes with banks or brokers make you invest a fixed amount of fiat that comes out of your wages every month over a number of years (say 30-40). A lot of them mess around with your pension pot by investing the money in stocks & shares to try & grow your final pot (with them taking a %) so it'd be no riskier for people using BTC instead.

I think this is definitely something that could happen in the future, I think it's probably a little too early now though for most people/companies to be willing to risk their pension using BTC.

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Quote from: greBit on July 08, 2015, 11:10:05 AM

I felt the same like yall, so what I did was divide my future savings in 3 parts. I have been investing 1/3rd of my money in Gold because I love Gold and believe in it, it has always been around from a long time. 1/3rd of my money is invested in Bitcoins because I believe they have a very bright future. The rest 1/3rd is fixed deposits that I pay every month for a comfortable retirement.

Diversification is probably a good idea. I'd personally rather keep my money in bitcoin than gold though as I think there is far bigger potential for profit than gold, but bitcoin is far riskier as well (but the reward higher). I plan to earn as much bitcoin as I can rather than invest all my fiat money in it as it is still an experimental and uncertain tech in my opinion but I do believe in it.The question is does the rest of the world.

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Quote from: JJB on July 08, 2015, 10:24:47 AM

Quote from: needFREElunch on July 08, 2015, 08:17:16 AM

Locking funds till you reach the retirement age. That's risky and safe at the same time. Why would anyone want to to lock the funds , if he/ she cannot use it in the times of need. But yeah in a way , a future planning is happening.

But that's exactly what pretty much what everyone does as a retirement account or with their pension for example. People save because they need to as when they retire they wont have any money otherwise. Sure, keeping your money in bitcoin is risky but so is keeping it in a pension or in your bank in some cases. I think putting some money into bitcoin could pay dividends by the time you retire but nothing is guarnteed.

I felt the same like yall, so what I did was divide my future savings in 3 parts. I have been investing 1/3rd of my money in Gold because I love Gold and believe in it, it has always been around from a long time. 1/3rd of my money is invested in Bitcoins because I believe they have a very bright future. The rest 1/3rd is fixed deposits that I pay every month for a comfortable retirement.

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Quote from: needFREElunch on July 08, 2015, 08:17:16 AM

Locking funds till you reach the retirement age. That's risky and safe at the same time. Why would anyone want to to lock the funds , if he/ she cannot use it in the times of need. But yeah in a way , a future planning is happening.

But that's exactly what pretty much what everyone does as a retirement account or with their pension for example. People save because they need to as when they retire they wont have any money otherwise. Sure, keeping your money in bitcoin is risky but so is keeping it in a pension or in your bank in some cases. I think putting some money into bitcoin could pay dividends by the time you retire but nothing is guarnteed.

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Quote from: benjamindees on October 29, 2014, 12:29:24 PM

Every month, your employer transfers Bitcoins into a time-locked address that can't be transferred out before you reach retirement age. You have the key to the address. You can verify the transfer on the blockchain.

No middle-men. No funny business. No brokers with pyramid/eyeball shaped logos. No "oops we went bankrupt and lost your retirement." No bail-ins. No raising the age of retirement.

Just Bitcoin.

This is a quite fascinating thread . Although it is not very promising. Suppose this does take place, what guarantee do you have that bitcoin's prices will not drop down like a sack of potatoes? And who says that the retirement fund's priorities are for the employee's retirement needs? there are loads of more questions that arise.

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Locking funds till you reach the retirement age. That's risky and safe at the same time. Why would anyone want to to lock the funds , if he/ she cannot use it in the times of need. But yeah in a way , a future planning is happening.

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Quote from: HarHarHar9965 on July 08, 2015, 05:58:22 AM

Quote from: Sunderland on October 31, 2014, 07:48:13 AM

hmm nice idea , i will do that soon.
spare some income every month to bitcoin and keep that for couple years.
maybe it will worth alot in the future , or that will great legacy to my sons Grin

but that can happen if bitcoin still worth in the future.

I have a gut feeling that bitcoin will be worth 10x, 30x more than what it is today, and that day isn't that far. Just a couple years down the line, let's say 10 years and bitcoin's price will be 10x considering things are developing and rising exactly how they are in today's pace.

Comparing bitcoin to the current gdp, assuming things go our way and people put their savings money down and invest unto thr bitcoin venture, the value of a single bitcoin can rise upto 1 million dollars. Considering people put down money more than just their savings,nthe value can shoot even much more. However, thats just an assumption/theory and a dream.

yes, but this is a dream which might actually come true. Recent adoption and support bitcoin has supported is gradually going higher than vice versa, it is receiving fair attention from people. The Greek economic collapse made people realize how dangerous centralized currency can be, and how banks can screw its customers at their worst times. Bitcoin is a suitable alternative, if not a replacement.

I think a lot of people have confused themselves as well as others when they started behaving and believing in the idea that bitcoin is a replacement, and it will create world domination in currency but that is unrealistic, and it s just an alternative not a replacement. Success would happen when you understand your investment rather than just put money in it.

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Quote from: Sunderland on October 31, 2014, 07:48:13 AM

hmm nice idea , i will do that soon.
spare some income every month to bitcoin and keep that for couple years.
maybe it will worth alot in the future , or that will great legacy to my sons Grin

but that can happen if bitcoin still worth in the future.

I have a gut feeling that bitcoin will be worth 10x, 30x more than what it is today, and that day isn't that far. Just a couple years down the line, let's say 10 years and bitcoin's price will be 10x considering things are developing and rising exactly how they are in today's pace.

Comparing bitcoin to the current gdp, assuming things go our way and people put their savings money down and invest unto thr bitcoin venture, the value of a single bitcoin can rise upto 1 million dollars. Considering people put down money more than just their savings,nthe value can shoot even much more. However, thats just an assumption/theory and a dream.

yes, but this is a dream which might actually come true. Recent adoption and support bitcoin has supported is gradually going higher than vice versa, it is receiving fair attention from people. The Greek economic collapse made people realize how dangerous centralized currency can be, and how banks can screw its customers at their worst times. Bitcoin is a suitable alternative, if not a replacement.

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Quote from: Sunderland on October 31, 2014, 07:48:13 AM

hmm nice idea , i will do that soon.
spare some income every month to bitcoin and keep that for couple years.
maybe it will worth alot in the future , or that will great legacy to my sons Grin

but that can happen if bitcoin still worth in the future.

I have a gut feeling that bitcoin will be worth 10x, 30x more than what it is today, and that day isn't that far. Just a couple years down the line, let's say 10 years and bitcoin's price will be 10x considering things are developing and rising exactly how they are in today's pace.

Comparing bitcoin to the current gdp, assuming things go our way and people put their savings money down and invest unto thr bitcoin venture, the value of a single bitcoin can rise upto 1 million dollars. Considering people put down money more than just their savings,nthe value can shoot even much more. However, thats just an assumption/theory and a dream.

Yea but also consider that about 60-70% of the world GDP is fake counterfeited money.

The assets are there no doubt, but their denominator is a fake toilet paper fiat which can be printed anytime.

So if the GDP shrinks to half, that would reflect reality better

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Quote from: Sunderland on October 31, 2014, 07:48:13 AM

hmm nice idea , i will do that soon.
spare some income every month to bitcoin and keep that for couple years.
maybe it will worth alot in the future , or that will great legacy to my sons Grin

but that can happen if bitcoin still worth in the future.

I have a gut feeling that bitcoin will be worth 10x, 30x more than what it is today, and that day isn't that far. Just a couple years down the line, let's say 10 years and bitcoin's price will be 10x considering things are developing and rising exactly how they are in today's pace.

Comparing bitcoin to the current gdp, assuming things go our way and people put their savings money down and invest unto thr bitcoin venture, the value of a single bitcoin can rise upto 1 million dollars. Considering people put down money more than just their savings,nthe value can shoot even much more. However, thats just an assumption/theory and a dream.

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Quote from: arallmuus on June 28, 2015, 09:30:02 AM

Yes you dont have time to put in your calculation here but you have a lot of time to post throughout this economics section it seems (?). Also it seems that I told you already ( not sure if it in this thread or another one ) that too much use of the words "IF" actually indicates an uncertainty of yours as well.

As for the second bolded part, 10 % of the average population dont have money and 1 % do ? where is the rest of the 89 % stands? Using GDP data as calculations is pretty much unneeded because this isnt the same thing as the world currencies or else. You should probably use data such as number of user and purchasing power in this case as because not the entire population will pour into BTC

Just visualize the bell curve of statisitics ok? People are diverse, and its very unlikely that all people will bite into bitcoin, especially if they are not ordered by their state (which i`m sure wont happen we are lucky if they recognize it as money)

Then we know for a fact that the top 1% holds around 60% of the wealth, and we also know that the top 1% is the least likely to use bitcoin.

So we only have 40% of the GDP at our disposal, in best case scenario, then remove the elderly, which is about 1/3, we are left with 28%, then remove the children below 13 which is about 1/4, so we are left with 18% of the GDP, that belongs to adults.

So quickly remove conservatives, communists and socialists, they are the least likely to use it, so we are left with 10% or even less of people.

Now this is the maximum bitcoin can achieve in short run, but then again i might be wrong.

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Quote from: GreenStox on June 28, 2015, 03:22:03 AM

Quote from: arallmuus on June 27, 2015, 09:28:31 AM

Quote from: GreenStox on June 26, 2015, 04:43:24 PM

Quote from: arallmuus on June 26, 2015, 03:40:21 AM

-snip-

Well i`m not a shaman to see the future but, i can only tell what is likely to happen under those conditions.

Making the BITCOIN a defacto currency will realize those, but nobody can guarantee that bitcoin will be mass adopted, we can just hope its trendy enough

The proof is simple just check the big numbers, the currency supply of all currencies in the world or to make it easier relative to the dollar and compare it with the global GDP.

All info you need is on wikipedia, so you can calculate it in about 30 minutes.

My question stands anyway, what do you mean by defacto? You seems to have a very different meaning than what I thought about it in my mind. Also that you should already know that title is about "retirement account" so we are dealing with "future prediction" or whatsoever in this thread and as far as I am aware, you made none of it except saying " go find about it yourself "

Let me simplify the bolded part of your statement : search google

Pretty much of a prediction and much expected I'd say because I doubt you even anything about it

yeah i mean new people influx, new money influx from them, right now we are playing with the same amount of money from the same user database, this is why we are not growing at all

It is not true to say "the same" because we are not the same as a year ago or atleast a month ago. You need a data to validate your claim because this claim is not right at all (unless you could some data )

Quote from: arallmuus on June 27, 2015, 09:28:31 AM

basically the demand is stuck there, the number of TX increased does not really mean that there are more people using bitcoin, maybe there are more old people that are moving more money..

Not true again, the increasing number of Transactions means that more people are using it . These number keep on increasing and steadying so that could be only one valid reasoning for that and that is more people are using it now.
As for the bolded part, that is highly unlike things because if it is so we should have already seen a decreased of the number of TX ID because people wont keep on moving their BTC around just to make up something for the graph

On another note, I thought you are an optimistic person when we are discussing about the "future" (retirement account is the future)

I dont have time here to explain to you detailed. But if you compare the world banks official GDP data, and all currencies currenntly in circulation relative to the dollar, then you can easily calculate in about 15 minutes how much will bitcoin price be worth if it hits only 10% of the population.

Now we know that 10% of the average population dont have the money, the 1% do, but if we just use average earnings -> the average GDP/capita poured into bitcoin.

Anyhow i calculate it is around 1 million $ /BTC

Yes you dont have time to put in your calculation here but you have a lot of time to post throughout this economics section it seems (?). Also it seems that I told you already ( not sure if it in this thread or another one ) that too much use of the words "IF" actually indicates an uncertainty of yours as well.

As for the second bolded part, 10 % of the average population dont have money and 1 % do ? where is the rest of the 89 % stands? Using GDP data as calculations is pretty much unneeded because this isnt the same thing as the world currencies or else. You should probably use data such as number of user and purchasing power in this case as because not the entire population will pour into BTC

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Quote from: GreenStox on June 26, 2015, 04:43:24 PM

Quote from: arallmuus on June 26, 2015, 03:40:21 AM

-snip-

Well i`m not a shaman to see the future but, i can only tell what is likely to happen under those conditions.

Making the BITCOIN a defacto currency will realize those, but nobody can guarantee that bitcoin will be mass adopted, we can just hope its trendy enough

The proof is simple just check the big numbers, the currency supply of all currencies in the world or to make it easier relative to the dollar and compare it with the global GDP.

All info you need is on wikipedia, so you can calculate it in about 30 minutes.

My question stands anyway, what do you mean by defacto? You seems to have a very different meaning than what I thought about it in my mind. Also that you should already know that title is about "retirement account" so we are dealing with "future prediction" or whatsoever in this thread and as far as I am aware, you made none of it except saying " go find about it yourself "

Let me simplify the bolded part of your statement : search google

Pretty much of a prediction and much expected I'd say because I doubt you even anything about it

yeah i mean new people influx, new money influx from them, right now we are playing with the same amount of money from the same user database, this is why we are not growing at all

It is not true to say "the same" because we are not the same as a year ago or atleast a month ago. You need a data to validate your claim because this claim is not right at all (unless you could some data )

basically the demand is stuck there, the number of TX increased does not really mean that there are more people using bitcoin, maybe there are more old people that are moving more money..

Not true again, the increasing number of Transactions means that more people are using it . These number keep on increasing and steadying so that could be only one valid reasoning for that and that is more people are using it now.
As for the bolded part, that is highly unlike things because if it is so we should have already seen a decreased of the number of TX ID because people wont keep on moving their BTC around just to make up something for the graph

On another note, I thought you are an optimistic person when we are discussing about the "future" (retirement account is the future)

I dont have time here to explain to you detailed. But if you compare the world banks official GDP data, and all currencies currenntly in circulation relative to the dollar, then you can easily calculate in about 15 minutes how much will bitcoin price be worth if it hits only 10% of the population.

Now we know that 10% of the average population dont have the money, the 1% do, but if we just use average earnings -> the average GDP/capita poured into bitcoin.

Anyhow i calculate it is around 1 million $ /BTC

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Quote from: dblink on June 27, 2015, 08:16:31 AM

I have a gut feeling that bitcoin will be worth 10x, 30x more than what it is today, and that day isn't that far. Just a couple years down the line, let's say 10 years and bitcoin's price will be 10x considering things are developing and rising exactly how they are in today's pace.

This is just speculation you make. There is no random numbers here to make so just hope there are mass adoption here so the price will skyrockting and

hope everything the best for the growing bitcoin

I do not know how it is going to be work, since there will be 21 Million bitcoin has to be mined, then how come they can think or initiate such programs to the longer period, need to think deeper and take a right decision with safe and secure, However at any point of time my all good wishes with Bitcoin that it keep growing enormously around the world.

This work will be done if there is a whale going to pump, that will make the price going up, there are thread that talked about 21 million coin to be mined has

nothing to do with the price, the price will stay the same after some time

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Quote from: GreenStox on June 26, 2015, 04:43:24 PM

Quote from: arallmuus on June 26, 2015, 03:40:21 AM

-snip-

Well i`m not a shaman to see the future but, i can only tell what is likely to happen under those conditions.

Making the BITCOIN a defacto currency will realize those, but nobody can guarantee that bitcoin will be mass adopted, we can just hope its trendy enough

The proof is simple just check the big numbers, the currency supply of all currencies in the world or to make it easier relative to the dollar and compare it with the global GDP.

All info you need is on wikipedia, so you can calculate it in about 30 minutes.

My question stands anyway, what do you mean by defacto? You seems to have a very different meaning than what I thought about it in my mind. Also that you should already know that title is about "retirement account" so we are dealing with "future prediction" or whatsoever in this thread and as far as I am aware, you made none of it except saying " go find about it yourself "

Let me simplify the bolded part of your statement : search google

Pretty much of a prediction and much expected I'd say because I doubt you even anything about it

yeah i mean new people influx, new money influx from them, right now we are playing with the same amount of money from the same user database, this is why we are not growing at all

It is not true to say "the same" because we are not the same as a year ago or atleast a month ago. You need a data to validate your claim because this claim is not right at all (unless you could some data )