Topic: Bitcoin as a Retirement Account - page 20. (Read 22749 times)

Too risky. The company establishing the accts could just take your coins. Plus, what if you lost your job and ended up penniless except for the BTC, you'd be the richest homeless person in the world. Wouldn't that suck? Keep ritee t funds in BTC if you want, and have the discipline to not touch it till retirement!

Holy mother of Christ, your post made absolutely no sense.  Read it, and read it again there, Mr. umaOuma.  I don't mean any offense, but I see this bottom-feeding, t-shirt dribbling nonsense all over bitcointalk and it makes me wonder what the major demographic is here.  16-28 year old tard-blaster from a country where the roads aren't paved and executions are carried out in the town square, I believe.  Am I warm?

I like the concept, but the only thing is, Bitcoin could possibly be the worst long term investment, or the best possibly long term investment. It's almost like a 50/50 type of deal. Using fiat is a much safer form of payment because if Bitcoin were to bust, your retirement fund is wiped. The only benefit is the simplicity of it though. Retirements are always tricky, holding Bitcoin that collects progressively would be so much easier than traditional methods.

Well indeed, I`ll buy 2-3 Bitcoins in a couple of days, the price seems fairly stable, and it stabilized around the 200€ mark, i dont think it will go lower.

Yes this is the best time to invest in bitcoins as the prices are low so if you are thinking of earning good profits in future then you should invest in bitcoin at present. And if you are worried about the future of bitcoin then i guess its value will reach to a high level in coming future.

Nope, I guess you are wrong. For now of course it is still blank because we can't predict the future but why dont you start investing now to craft that future? Altough bitcoin can't replace the fiat we still can earning through it. For now 1 bitcoin is $200++ and may be in the future the value will increase again and it will be go higher too. If you going to invest now may be it is not too late but you dont want to invest its your choice

I'm using my bitcoins as a savings account but I don't really plan on it being a retirement fund. I guess it all depends on how well bitcoin does but I plan to hold for a couple of years at least with the hope to spend them in the future.


Can you explain the math behind this? It's not literally unavoidable at all. Maybe likely to rise in the future due to supply and demand but demand is not guaranteed and neither is bitcoins value.

I believe that is right we cannot judge the value of bitcoin in coming future but it has a good future so investing in bitcoin would be a wise decision I believe. And if the prices climb up then it can prove as a best retirement account and obviously earning high returns.

The value of Bitcoin is hard to evaluate within 5 or 10 years and is not always the way as you think. why don't we got the salary and use it to buy and sell Bitcoin for investment. I think the employee is crazy if he accepts the method.

I don't think its an good idea to have an bitcoin as a retirement account as the future of bitcoin is still blank. We don't know whether it will replace fiat or not but i would prefer to invest in some pension plans which would pay me assured amount of money monthly rather then going for bitcoin retirement account.

If bitcoin is officially regulated and well accepted like any other foreign currency, then the adoption will explode. However it is also possible that it will never gain a clear status from the government (Due to anonymity and no issuer), thus there will be less and less new people adopt bitcoin (Those who are geeky and brave enough to ignore the government directive are almost all on board now). And that will make the user base grow very slow. If the user base do not increase quickly, then 100% return in 4 years is already a quite good number

If I am holding a good amount of bitcoins in my wallet then this would a better option to have it as an retirement account as i guess the value of bitcoin will raise in the future and holding good bitcoins will make your retirement life safe and secure so i think its an great option.

It will obviously go up, it's simply math and literally unavoidable. It's a matter of when, and having the balls to sell at peaks to buy back later. Insanely risk tho, you never know when a peak is going down or it will continue.

I would be disappointed if Bitcoin just managed to hold its purchasing power or increases marginally in the long term. I would put aside a small amount of money, be willing to take a hit if it disappears, but also expect a substantial return if it takes off. With large scale adoption, Bitcoin's price can take off and we as reasonably early adopters, may be rewarded.

Inflation of fiat money is exactly the reason you should use bitcoin as retirement savings, since it is anti-inflation, or even better, deflation. Its purchasing power would increase long term wise. A 100% increase in 4 years time frame seems to be guaranteed due to reward halving every 4 years

As for investment, at a higher level of abstraction, all the investment is about growing your purchasing power. You receive some stock dividend or bond interest, but if those income and principal added together still bring you less purchasing power (due to hyperinflation), then that is a bad investment. However, if you hold bitcoin and its purchasing power doubled or even quadrupled during a hyperinflation, that's a good investment

It is difficult to imagine where is the bitcoin's value established upon. Again, at a higher level of abstraction, value is all about trust, as long as there are some people trust bitcoin and willing to accept bitcoin in exchange for other valuables, it has some people backing it with real world resources. Although those backing is very distributed, they are all volunteer, which is very different from a government-backed-currency (typically forced upon its citizen domestically). Some day in 2009, north Korean government decided to abandon its currency and go for a new one, no one could against it and people with lots of cash saving lost a fortune. But for all the bitcoiners around the world to abandon the bitcoin at the same time is very unlikely if not totally impossible. From this point of view, bitcoin's value also comes from its non-political nature

There are sooooo many ifs that you have factored, perhaps wrongly, into your surety. 

But my response was to btc being useful for a retirement account.  I called it a currency.  Is it a currency or an investment? 

If it's a currency, then the best thing for it would be price stability.  In that case, btc would be absolutely horrible to sock away for retirement, because inflation would eat it away--and I mean inflation of fiat, because I do not expect the major currencies to collapse in our lifetimes, and since things are priced in fiat and btc is largely purchased with fiat, btc is tied to fiat.  I could be wrong. 

If it's an investment, what justifies it's price?  It represents no earnings as a stock does, or debt like a bond does.  It's major advantages are as a currency: it's quick to transmit and the fees are very low.  It's not even a physical thing like precious metals, art, or stamps. 

You might be sure btc will go viral, but I'm not so sure it'll be around in 20 years.  Again, I could be totally wrong.

Population of Earh will triple in the next 20 years, the amount of labour generated will be alot, and that 0.01% that uses bitcoin now, might be 1 billion people in 20 years.

Bitcoin will go viral, i`m sure of that.

Total market cap is in the low billions of USD now. You do not know how much they will be worth in 20 years.

Bitcoin is a global currency.  Total market cap is in the low billions of USD.  How are you going to tie up enough bitcoins for YEARS to allow a significant number of people to retire on?  Not going to happen, even if people were stupid enough to want to do something like you suggested.  No offense.