Bitcoin as a Retirement Account - page 21.

Amph

legendary

Activity: 3248

Merit: 1070

Quote from: GreenStox on May 09, 2015, 05:16:49 AM

Quote from: aso118 on May 08, 2015, 10:39:47 AM

Quote from: johnyj on May 07, 2015, 06:34:45 PM

Average guy: 1% of his portfolio
IT guy: 5%
IT and finance aware guy: 10-20%
Bitcoiners: At least 50%
Gamblers: 100%

Right now
Average Guy: What is Bitcoin?

If you are planning to hold it till retirement (assuming you are not knocking on the doorsteps of retirement), then 1% is a sizable amount, considering the riskiness of Bitcoin.

1% ,that is too small. What else you would hold greek bonds or financial stocks? Those are 1000x more risky at the moment than bitcoin.

The 30 year bullish bond markets will collapse soon, and then people will regret why they didnt bought bitcoin instead.

i think that too, i would say 5% for average guy, they know about bitcoin, they are just to afraid to invest

and i would rise to 10% for IT guy, the rest are about ok

GreenStox

sr. member

Activity: 1148

Merit: 252

Undeads.com - P2E Runner Game

Quote from: maartenhaha on May 09, 2015, 05:43:40 AM

NEVER give up houses and farmland, that's gold you have there, besides coffee, chocolat and water the primal things human need, wait and see in 10/15 years, you'll see, so never sell property but rent it out and keep accordenly, to value price and inherit laws per country, that sum of money stowed away to give your children to buy the inherit taxes of so it keeps in the family.

------------------

a retirement funds... don't sell everithing in 1 go, lol just sell monthly what you need to live on or that little + on your pension income or need a vacation? a nice present for someone

not be greedy and all in 1. that way prises could be/stay stable wright?

edit: sorry i mean rent out, not rent. english is not my first language..

I must sell the family house because its in shitty shape , but i dont sell the farmland, that is really worth it. But i think bitcoin has much higher ROI, so i`d buy more of it later on.

Luckily there is no inheritance tax in my country (at least that, otherwise i`m taxed 80%).

maartenhaha

sr. member

Activity: 1456

Merit: 251

Quote from: GreenStox on May 07, 2015, 06:36:40 PM

Quote from: johnyj on May 07, 2015, 06:34:45 PM

Average guy: 1% of his portfolio
IT guy: 5%
IT and finance aware guy: 10-20%
Bitcoiners: At least 50%
Gamblers: 100%

I got 25% only in bitcoin, and the rest of my money it is in high risk bank savings (getting 1.5% interest only).

I do own a little bit of farm land and have a family house that is rented out.

NEVER give up houses and farmland, that's gold you have there, besides coffee, chocolat and water the primal things human need, wait and see in 10/15 years, you'll see, so never sell property but rent it out and keep accordenly, to value price and inherit laws per country, that sum of money stowed away to give your children to buy the inherit taxes of so it keeps in the family.

------------------

a retirement funds... don't sell everithing in 1 go, lol just sell monthly what you need to live on or that little + on your pension income or need a vacation? a nice present for someone

not be greedy and all in 1. that way prises could be/stay stable wright?

edit: sorry i mean rent out, not rent. english is not my first language..

GreenStox

sr. member

Activity: 1148

Merit: 252

Undeads.com - P2E Runner Game

Quote from: aso118 on May 08, 2015, 10:39:47 AM

Quote from: johnyj on May 07, 2015, 06:34:45 PM

Average guy: 1% of his portfolio
IT guy: 5%
IT and finance aware guy: 10-20%
Bitcoiners: At least 50%
Gamblers: 100%

Right now
Average Guy: What is Bitcoin?

If you are planning to hold it till retirement (assuming you are not knocking on the doorsteps of retirement), then 1% is a sizable amount, considering the riskiness of Bitcoin.

1% ,that is too small. What else you would hold greek bonds or financial stocks? Those are 1000x more risky at the moment than bitcoin.

The 30 year bullish bond markets will collapse soon, and then people will regret why they didnt bought bitcoin instead.

aso118

legendary

Activity: 1918

Merit: 1012

★Nitrogensports.eu★

Quote from: johnyj on May 07, 2015, 06:34:45 PM

Average guy: 1% of his portfolio
IT guy: 5%
IT and finance aware guy: 10-20%
Bitcoiners: At least 50%
Gamblers: 100%

Right now
Average Guy: What is Bitcoin?

If you are planning to hold it till retirement (assuming you are not knocking on the doorsteps of retirement), then 1% is a sizable amount, considering the riskiness of Bitcoin.

operrajunk74

sr. member

Activity: 344

Merit: 250

Will support this thread as I feel that it can be great idea to have an bitcoin as retirement account. If I hold good amount of bitcoins then definitely it can be prove as a better investment, again you cannot neglect the risk factor but hopefully bitcoin will do better in future.

GreenStox

sr. member

Activity: 1148

Merit: 252

Undeads.com - P2E Runner Game

Quote from: johnyj on May 07, 2015, 06:34:45 PM

Average guy: 1% of his portfolio
IT guy: 5%
IT and finance aware guy: 10-20%
Bitcoiners: At least 50%
Gamblers: 100%

I got 25% only in bitcoin, and the rest of my money it is in high risk bank savings (getting 1.5% interest only).

I do own a little bit of farm land and have a family house that is rented out.

johnyj

legendary

Activity: 1988

Merit: 1012

Beyond Imagination

Average guy: 1% of his portfolio
IT guy: 5%
IT and finance aware guy: 10-20%
Bitcoiners: At least 50%
Gamblers: 100%

GreenStox

sr. member

Activity: 1148

Merit: 252

Undeads.com - P2E Runner Game

If this gets approved by the government (ironic), then the bitcoin price will definitely go to the moon!

aso118

legendary

Activity: 1918

Merit: 1012

★Nitrogensports.eu★

Quote from: Amph on May 06, 2015, 03:24:12 AM

Quote from: unholycactus on May 06, 2015, 12:15:54 AM

Quote from: BTCevo on May 03, 2015, 04:45:53 AM

Quote from: unholycactus on April 30, 2015, 01:03:37 PM

Sounds like a terrible idea unless you diversify.

This is not a terrible idea because everyone in this world need retirement fund so they can live happily and one more thing that I can add is bitcoin always make a new variation and people nowadays are start to use it as a new kind of payment in this era of technology

Assuming everyone needs a retirement fund to be happy (which is something I disagree with), wouldn't it be a terrible idea to only have Bitcoin in that said fund?

What if all my savings are exclusively BTC (i.e no diversification) and they turn out to be worthless in 10, 20 or 40 years, how am I suppose to live happily?

then you put 50% only and be happy anyway, no one said tu put everything you have in bticoin

but bitcoin still looks to have more chance to grow than dying, so even 66%-75% would be a good bet

If you have 20+ years left to retire, even a couple of bitcoins put away may be enough.
If you lose, you don't lose much.

Whitehouse

sr. member

Activity: 448

Merit: 250

Quote from: unholycactus on May 06, 2015, 12:15:54 AM

Quote from: BTCevo on May 03, 2015, 04:45:53 AM

Quote from: unholycactus on April 30, 2015, 01:03:37 PM

Sounds like a terrible idea unless you diversify.

This is not a terrible idea because everyone in this world need retirement fund so they can live happily and one more thing that I can add is bitcoin always make a new variation and people nowadays are start to use it as a new kind of payment in this era of technology

Assuming everyone needs a retirement fund to be happy (which is something I disagree with), wouldn't it be a terrible idea to only have Bitcoin in that said fund?

What if all my savings are exclusively BTC (i.e no diversification) and they turn out to be worthless in 10, 20 or 40 years, how am I suppose to live happily?

Everyone needs a retirement fund because what the hell are you going to live on once you retire if you have nothing to pay the bills with or your rent? Using the word happy may have confused you but you certainly need a fund to be comfortable or to survive at least and if you don't have one you certainly wont be happy starving on the streets.

BTCevo

legendary

Activity: 1834

Merit: 1008

Quote from: Amph on May 06, 2015, 03:24:12 AM

Quote from: unholycactus on May 06, 2015, 12:15:54 AM

Quote from: BTCevo on May 03, 2015, 04:45:53 AM

Quote from: unholycactus on April 30, 2015, 01:03:37 PM

Sounds like a terrible idea unless you diversify.

This is not a terrible idea because everyone in this world need retirement fund so they can live happily and one more thing that I can add is bitcoin always make a new variation and people nowadays are start to use it as a new kind of payment in this era of technology

Assuming everyone needs a retirement fund to be happy (which is something I disagree with), wouldn't it be a terrible idea to only have Bitcoin in that said fund?

What if all my savings are exclusively BTC (i.e no diversification) and they turn out to be worthless in 10, 20 or 40 years, how am I suppose to live happily?

then you put 50% only and be happy anyway, no one said tu put everything you have in bticoin

but bitcoin still looks to have more chance to grow than dying, so even 66%-75% would be a good bet

Yes its true. I agree on you. I dont think bitcoin is gonna die for a decades. So if you invest some of your fiat in bitcoin, it still worth and you may get a lot of profit from it. And its all depends on you whethere you want to convert it or not

Amph

legendary

Activity: 3248

Merit: 1070

Quote from: unholycactus on May 06, 2015, 12:15:54 AM

Quote from: BTCevo on May 03, 2015, 04:45:53 AM

Quote from: unholycactus on April 30, 2015, 01:03:37 PM

Sounds like a terrible idea unless you diversify.

This is not a terrible idea because everyone in this world need retirement fund so they can live happily and one more thing that I can add is bitcoin always make a new variation and people nowadays are start to use it as a new kind of payment in this era of technology

Assuming everyone needs a retirement fund to be happy (which is something I disagree with), wouldn't it be a terrible idea to only have Bitcoin in that said fund?

What if all my savings are exclusively BTC (i.e no diversification) and they turn out to be worthless in 10, 20 or 40 years, how am I suppose to live happily?

then you put 50% only and be happy anyway, no one said tu put everything you have in bticoin

but bitcoin still looks to have more chance to grow than dying, so even 66%-75% would be a good bet

unholycactus

legendary

Activity: 1078

Merit: 1024

Quote from: BTCevo on May 03, 2015, 04:45:53 AM

Quote from: unholycactus on April 30, 2015, 01:03:37 PM

Sounds like a terrible idea unless you diversify.

This is not a terrible idea because everyone in this world need retirement fund so they can live happily and one more thing that I can add is bitcoin always make a new variation and people nowadays are start to use it as a new kind of payment in this era of technology

Assuming everyone needs a retirement fund to be happy (which is something I disagree with), wouldn't it be a terrible idea to only have Bitcoin in that said fund?

What if all my savings are exclusively BTC (i.e no diversification) and they turn out to be worthless in 10, 20 or 40 years, how am I suppose to live happily?

nerFohanzo

hero member

Activity: 631

Merit: 500

This is the best time to invest if you re looking for a bitcoin as a retirement account as the prices are comparatively low as it was in the past So its the best time to invest if you keep on waiting that it will reach $100 then it would be a really bad decision to make.

alh

legendary

Activity: 1846

Merit: 1052

I want to put the quote:

"I am sure that bitcoin will going up" (2015)

right next to a previous:

"Housing prices will always go up" (2007)

umaOuma

hero member

Activity: 938

Merit: 1000

I think its an great idea to have bitcoin as a retirement account. Generally people hesitate in accepting it as a retirement account due to its volatile nature it might go high or it might be dead but i think no issues in investing in bitcoins as in future you can earn high returns.

gongomanny

sr. member

Activity: 301

Merit: 250

Ɓιтcσιη

You never really know what the future holds. If you live in a region with civil unrest, political uncertainty or energy crises then it’s difficult to imagine that anyone would use bitcoin for your retirement account. I mean, essentially, bitcoin is dependent on the Internet to be functional, and if you are somehow severed from the power grid or the online community, your bitcoins will be worthless, even if you store them in physical form.

sgk

legendary

Activity: 1470

Merit: 1002

!! HODL !!

Quote from: BTCevo on May 03, 2015, 02:02:45 PM

Quote from: sgk on May 03, 2015, 10:03:15 AM

Quote from: BTCevo on May 03, 2015, 09:30:57 AM

Quote from: sgk on May 03, 2015, 07:27:04 AM

Quote from: BTCevo on April 30, 2015, 12:06:49 PM

Quote from: nerFohanzo on April 30, 2015, 12:02:07 PM

That mainly depends on what number of total bitcoins you hold in your account if the amount is good enough then definitely its an best option to opt for because the value of bitcoin will be more after 20 to 25 years so it would be best to have bitcoin as a retirement account.

Actually it doesnt matter how many bitcoin that you got in total. If you want to really use it for retirement account and you want to get some profit with it what you must do is start to collecting bitcoin with all the money you got now since the price is still low

But you're assumig tha the price will always go up in future. That is just a speculation. Youi might end up having nothing after a few years. Bitcoin might be worth zero.
So you may get into a situation where you end up having nothing when you need the money most (during your retirement.)

If you're accumulating BTC for profit in young age and you invest what you're prepared to lose, that's not a big issue. If BTC ends up being nothing, you can still work your ass off to cover he expenses.
But if your retirement fund goes to zero and you're old, you're in a big trou\ble becuse you can't even work.

Nope thats not true. I am sure that bitcoin will going up. Because there are thread saying that many banks will use this kind of technology to improve the securities so until that time I think bitcoin price start to raise little by little and that make you get profit

Bitcoin ans block chain are two different things. When you say banks are going to use bitcoin 's underlying technology, you are talking about block chain. Even if the whole world starts to use block chain, it does not have any relation with bitcoin 's price.

You should not confuse block chain 's adoption with bitcoin 's adoption.

What do you mean its a two different things? Blockchain is the one who support bitcoin right? If they support bank that means they will also support bitcoin too right? If there is no bitcoin in this world so there are no blockchain too. I think they are correspond each other

Nope; you can use block chain 'technology' without Bitcoin.

Block chain is nothing but a decentralized public ledger of transactions or data. If you want to implement this technology to anything, you can do so by having nothing to do with Bitcoin. However bitcoin comes into picture if you want to use BITCOIN's block chain. But when we say banks are going to use block chain technology, it does not mean we're talking about Bitcoin's block chain. They may have their own block chain which runs on the principles of Bitcoin's block chain, but it is NOT Bitcoin.

Hell.. i can have my own block chain to record my own bits of data which is based on the principles of Bitcoin's block chain, but has nothing to do with Bitcoin and its network.

ShakyhandsBTCer

sr. member

Activity: 448

Merit: 250

It's Money 2.0| It’s gold for nerds | It's Bitcoin

What if, after working for x many years, you have a final amount of y BTC, and then suddenly the price of bitcoin plunges? Your entire retirement savings are moot. You lost everything you worked for. People can buy that same amount of btcs for much, much cheaper. What do you do then?

Topic: Bitcoin as a Retirement Account - page 21. (Read 22728 times)