Putting 1% of your retirement contributions in Bitcoins wouldn't be a bad idea.
yes, otherwise, you'd become poor if you blindly make that assumption that the price will go only upwards 
Topic: Bitcoin as a Retirement Account - page 24. (Read 22728 times)
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.
Actually im doing something similar: I keep a % of the BTC I get into cold storage, in a really offline and difficult way to extract coins. I don't want to open that wallet until 40 years from now. 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 my current take:
30% crypto
50% metals
20% fiat
10% other (bonds, whatever)
Diversifying without going nuts is still king. And don't understimate fiat as if it's going to dissapear anytime soon like some people do around here.
30% crypto
50% metals
20% fiat
10% other (bonds, whatever)
Diversifying without going nuts is still king. And don't understimate fiat as if it's going to dissapear anytime soon like some people do around here.
i think too much differentiation in investments, could be dangerous, ok to not put all your eggs in one basket, but seeing the current situation, where only few assets will rise, you chance of not doing well will be higher with many different investments
Bitcoin is a serious risk, putting your retirement in BTC is inviting disaster. A small portion, though, wouldn't be that crazy.
you should not put your retirement in anything to be honest, if the money you have could permit you to retire without working anymore then you don't need new money in your portfolio
i have followed the rabbit in 2014 ... and i have, too, convert my bank account for retirement to many littles wallet in bitcoin.
simple ... i check regulary old wallet to see if problem appear but, for now, it's prefect (an old one take 15min to be recreate in bitcoin core).
i use a dedicated PC that it have only bitcoin core and OS (without any updates).
I switch ON every 1 day in a month to keep the blockchain updated.
well, Bitcoin is a perfect network, you can't loose money ... not like the bank (and regulary fees without ask the deposit permission).
you can't have freezed account for negative operation (you can't miss something).
you can't restrict the amount wired to an other party (like my friends or familly).
you don't have fees (except the dedicated PC ... well, not a big deal with refurbished PC).
---
At this time, i have 5% in bank (bills for the month), 5% in cash (food and regularies things) ... and 90% in bitcoin.
The first thing that it have noticed is that "bankster" don't call me every month ... no AD from the bank !
simple ... i check regulary old wallet to see if problem appear but, for now, it's prefect (an old one take 15min to be recreate in bitcoin core).
i use a dedicated PC that it have only bitcoin core and OS (without any updates).
I switch ON every 1 day in a month to keep the blockchain updated.
well, Bitcoin is a perfect network, you can't loose money ... not like the bank (and regulary fees without ask the deposit permission).
you can't have freezed account for negative operation (you can't miss something).
you can't restrict the amount wired to an other party (like my friends or familly).
you don't have fees (except the dedicated PC ... well, not a big deal with refurbished PC).
---
At this time, i have 5% in bank (bills for the month), 5% in cash (food and regularies things) ... and 90% in bitcoin.
The first thing that it have noticed is that "bankster" don't call me every month ... no AD from the bank !
Bitcoin is a serious risk, putting your retirement in BTC is inviting disaster. A small portion, though, wouldn't be that crazy.
Let's hope for this to be a reality when people view bitcoin as a safe storage of value. That is only possible when price stabilized
This is my current take:
30% crypto
50% metals
20% fiat
10% other (bonds, whatever)
Diversifying without going nuts is still king. And don't understimate fiat as if it's going to dissapear anytime soon like some people do around here.
30% crypto
50% metals
20% fiat
10% other (bonds, whatever)
Diversifying without going nuts is still king. And don't understimate fiat as if it's going to dissapear anytime soon like some people do around here.
Not when the price is fluctuating like what we are seeing right now. I mean your points are valid, nothing wrong with it, no middleman, safe but what if it loses its value? At that time you might be too old to work and you realize the value is not enough to cover your daily spending.
Putting 1% of your retirement contributions in Bitcoins wouldn't be a bad idea.
This may be true, but not in the way the OP is describing. I would say that investing in the second market bitcoin fund of the COIN (BTC EFT) would be a very productive investment for your overall retirement strategy, however you need to be able to sell in the event that bitcoin no longer appears to be something appropriate for your retirement strategy. an alternative is also put aside your bitcoin for 1-5 years see what is happening with the market,then if u have a nice profit from btc, cash them out and the amount u can put in retirement fonds, after that u can only chillax about your retirement
This something more easy to do for the normal btc user
And remember always have a small lot of btc cause well we all know that this is the future
Putting 1% of your retirement contributions in Bitcoins wouldn't be a bad idea.
This may be true, but not in the way the OP is describing. I would say that investing in the second market bitcoin fund of the COIN (BTC EFT) would be a very productive investment for your overall retirement strategy, however you need to be able to sell in the event that bitcoin no longer appears to be something appropriate for your retirement strategy.
I believe that bitcoin could be used as a fund when we retire, bitcoin exchange rates are becoming increasingly large, making my hope with the greater bitcoin, bitcoin more we collect, the better for us on the day the old fund, there is no guarantee we can still work until old age ... 
Putting 1% of your retirement contributions in Bitcoins wouldn't be a bad idea.
People are already thinking on these lines.
http://www.thinkadvisor.com/2014/10/30/bitcoin-in-your-401k?
Putting 1% of your retirement contributions in Bitcoins wouldn't be a bad idea.
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
but that can happen if bitcoin still worth in the future.
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
but that can happen if bitcoin still worth in the future.
Are there such things as time locked transactions with a single key? Do they send the transaction with a date in the future? What happens if you lose the key the coins are destined for before you reach retirement age?
I have heard that one can make a transaction which will not confirm before a predetermined block. I am not sure about the details, but the coins will be in limbo for the time being, receiving address will be able to spend it when it gets 1 confirmation in the predetermined future.
So, in essence, one would be hoping that the wouldn't lose their private key in 30 or 40 years? That's beside the speculation as to whether or not bitcoin itself will still be around in the future? I know we all want it to be, but storing huge sums with no way to yank it out if something negative occurs, neither of those seem like especially wise decisions...
I do agree with the issue of not knowing if bitcoin will still be around by the time someone retires. One feature of most/all retirement accounts is the fact that you have the option to sell an investment, but keep the proceeds in your retirement account if you think it is no longer appropriate to hold such an investment
My advice: Do not depend on it. Specially for the older people, don't invest your retirement on btc.
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.
There are many reasons why someone would be able to withdraw money from their retirement accounts as it stands now. Age is only one reason why people can withdraw. Another issue is that there is no guarantee that bitcoin will still be around by the time a person is ready to retire. I agree that bitcoin is very attractive today, however this may change in the next 40 years when many people who are early in their careers (and just starting to save for retirement) will be ready to retire
I am considering similar plan... Set up college fund for my child with BTC. Hope btc to da moon and it works!
I was actually thinking about this too.
Until i wanted a amazon gift card and fell upon gyft.. fml lol.
Until i wanted a amazon gift card and fell upon gyft.. fml lol.
very nice if bitcoin can be used as a fund after we retire from work, which is expected bitcoin exchange rates on the future will increase and can be used up to the day our parents, hopefully the price will be more stable bitcoin exchange ...
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