Bitcoin as a Retirement Account - page 22.

BTCevo

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Quote from: sgk on May 03, 2015, 09:03:15 AM

Quote from: BTCevo on May 03, 2015, 08:30:57 AM

Quote from: sgk on May 03, 2015, 06:27:04 AM

Quote from: BTCevo on April 30, 2015, 11:06:49 AM

Quote from: nerFohanzo on April 30, 2015, 11:02:07 AM

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

umair01

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I'd say move the time-lock outta the way, make way for the employee to buy/sell, or hire a professional to hedge,then i'd say you have something, the fact that securities,banks and finances are investing in this kind of technology already,shows that the cryptocurrency isn't going going to be redundant for a great while now.

fdiini

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Quote from: sgk on May 03, 2015, 09:03:15 AM

Quote from: BTCevo on May 03, 2015, 08:30:57 AM

Quote from: sgk on May 03, 2015, 06:27:04 AM

Quote from: BTCevo on April 30, 2015, 11:06:49 AM

Quote from: nerFohanzo on April 30, 2015, 11:02:07 AM

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.

Yes. Many here still confuse block chain and equate it with bitcoin.

Time to wake up.

sgk

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Activity: 1470

Merit: 1002

!! HODL !!

Quote from: BTCevo on May 03, 2015, 08:30:57 AM

Quote from: sgk on May 03, 2015, 06:27:04 AM

Quote from: BTCevo on April 30, 2015, 11:06:49 AM

Quote from: nerFohanzo on April 30, 2015, 11:02:07 AM

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.

trader001

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Many will retire poor if they did it last year.

BTCevo

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Activity: 1834

Merit: 1008

Quote from: sgk on May 03, 2015, 06:27:04 AM

Quote from: BTCevo on April 30, 2015, 11:06:49 AM

Quote from: nerFohanzo on April 30, 2015, 11:02:07 AM

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

sgk

legendary

Activity: 1470

Merit: 1002

!! HODL !!

Quote from: BTCevo on April 30, 2015, 11:06:49 AM

Quote from: nerFohanzo on April 30, 2015, 11:02:07 AM

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.

BTCevo

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Activity: 1834

Merit: 1008

Quote from: unholycactus on April 30, 2015, 12:03:37 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

unholycactus

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Sounds like a terrible idea unless you diversify.

BTCevo

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Quote from: nerFohanzo on April 30, 2015, 11:02:07 AM

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

nerFohanzo

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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.

aso118

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★Nitrogensports.eu★

Quote from: twiifm on April 29, 2015, 02:46:46 PM

Stupid idea. Just do a SEP IRA and get tax deductions

If you are on the cusp of retirement, it might be a bad idea. Otherwise, for true believers of Bitcoin, this would be an obvious thing to do. Irrespective of where the price fluctuates in the short term, you know that the long term trend is going to be upwards.

gripflierGO

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Sounds Great!!!! to have a bitcoin as a Retirement Account. Would definitely love to have it. Certain risk is involved as we don't know what's the future of Bitcoin but still can afford to have risk. Its like Stock Market Either Sky is the limit or else you would return empty handed.

twiifm

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Stupid idea. Just do a SEP IRA and get tax deductions

BitcoinFr34k

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✓

I have a few BTC in cold wallet. I'll hide usb a dozen years

In 2030 bitcoin will not exist or exist like a main world currency. 100 000$/BTC

I will risk my bitcoins to have that good retirement

sdmathis

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AKA The Rubber Monkey

Quote from: Solange on April 27, 2015, 03:12:24 PM

Quote from: sdmathis on April 27, 2015, 03:10:20 PM

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.

I'm sorry, but that's a terrible idea. Bitcoin is much too volatile to be used as a retirement investment. Don't get me wrong, I love Bitcoin. But it's not the right vehicle for a retirement account.

But just because it is too volatile now doesn't mean it wont be stable in the future. If bitcoin is the worlds first international currency adopted by billions by the time people are ready for retirement it could be a great plan.

If Bitcoin stabilizes (and not before), then it might be worth looking at but not until then. When it comes to retirement, safety and stability are of utmost importance. Speculative investments (like Bitcoin) are better suited for discretionary income investments.

Don't get me wrong. I'm not against investing in Bitcoin. I just feel that it's much too risky for a retirement account.

manselr

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Quote from: ?? on ??

I suggest high grade notes (paper wallets) for retirement that use the private key method, this ensure by the time you retire it will still be accepted. (instead of a wallet.dat) make sure you have multiple in different locations in case of looting, fire or who knows. I would essentially treat it the same way as high end physical bullion.

For some reason I trust lots of electronic backups more than paper. Paper is prone to deteriorate with time. You would need to put it inside one of those plastic sealed bags or something. A combination of both is most likely the best way for long term storage.

BTCevo

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Quote from: sgk on April 28, 2015, 06:10:48 AM

To call Bitcoin a 'stable' investment will also be a form of gamble. With fiat you at least have something, even with inflation hitting. With Bitcoin, you may have zero value - no one can say.

It might be good idea to put very small Bitcoins to cold storage every month, just enough the amount you can afford to lose.
If the price stays stable: you gain what you invested
If the price rises: you get good profit
If the price falls: you never invested more than you could lose

I dont think it call form of gamble. With this fiat of course is the best for now but soon or later bitcoin will change it. And bitcoin for now is highest currency in digital altough it drops you will still get profit so that doesnt make you gamble in this things. This is how to anticipated things in bitcoin

LazerSMS

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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.

You can do it for yourself but I don't see a non bitcoin related business doing it

operrajunk74

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That's true even I would prefer to go for Gold investment or a Real Estate bcoz u ll be definitely having good returns on investment in future but not sure about bitcoins whether it can be trustworthy or not..at present its good good to invest but cant say anything about future.

Topic: Bitcoin as a Retirement Account - page 22. (Read 22749 times)