Bitcoin retirement benefits - page 2.

Nwada001

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Quote from: Texac on May 23, 2023, 05:43:04 PM

Quote from: Nwada001 on May 23, 2023, 05:13:11 PM

I hope you know that investment risk can only be managed and reduced, but it can't be completely eradicated no matter which form of investment it is, so the same thing is applicable to Bitcoin. No matter how long it stays, it will only gain more popularity and approval from those criticizing it, and some Bitcoin racists will turn their backs on it and become Bitcoiners, but that will not change its volatile nature, which puts your investment at high risk, especially when you buy at a higher price.

once invested, there is always risk, whether it is gold or real estate, two types of assets are considered the safest ever due to their popularity. but if you compare bitcoin with these asset classes, it is clear that bitcoin is much riskier because it is not yet widely available and has not been recognized by the majority of the world. Those who participate and accept bitcoin represent only 2% of the world population, showing that bitcoin is actually much more risky.

Do you calculate bitcoin risk by recognition, or do you calculate bitcoin risk by both recognition and volatility?
There is every tendency that any investment with a high possibility of a higher reward always has a greater risk when you view it from the financial studies and adviser point of view.

Talking about real estate and gold, I think the era for real estate and gold is gradually fading away; the price and value of those investments are not actually turning into anything tangible these days.

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Quote from: Nwada001 on May 23, 2023, 05:13:11 PM

I hope you know that investment risk can only be managed and reduced, but it can't be completely eradicated no matter which form of investment it is, so the same thing is applicable to Bitcoin. No matter how long it stays, it will only gain more popularity and approval from those criticizing it, and some Bitcoin racists will turn their backs on it and become Bitcoiners, but that will not change its volatile nature, which puts your investment at high risk, especially when you buy at a higher price.

once invested, there is always risk, whether it is gold or real estate, two types of assets are considered the safest ever due to their popularity. but if you compare bitcoin with these asset classes, it is clear that bitcoin is much riskier because it is not yet widely available and has not been recognized by the majority of the world. Those who participate and accept bitcoin represent only 2% of the world population, showing that bitcoin is actually much more risky.

Nwada001

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Quote from: Wend on May 23, 2023, 08:55:25 AM

You have a point there. After all, bitcoin is a very new asset and still not widely accepted, so there is still a lot of risk, and it would be a bad idea to bet our future entirely on bitcoin.

I don't think Bitcoin should still be considered a new asset. If Bitcoin were to be a person, that is, a foreigner living in a foreign land, 10 years is enough to make it a citizen of that country, which will consider it not to be a stranger any more. So to me, Bitcoin is actually no longer a new asset as far as I am concerned, and if I may ask, how long do you want Bitcoin to stay before you can consider it old enough to be worth your investment or pass the risk requirements?

I hope you know that investment risk can only be managed and reduced, but it can't be completely eradicated no matter which form of investment it is, so the same thing is applicable to Bitcoin. No matter how long it stays, it will only gain more popularity and approval from those criticizing it, and some Bitcoin racists will turn their backs on it and become Bitcoiners, but that will not change its volatile nature, which puts your investment at high risk, especially when you buy at a higher price.

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Quote from: hannahB4 on May 23, 2023, 03:00:13 PM

Anybody who works does that so that he might have a better living but when we move to savings and investment for the future in which bitcoin investment is one of the best ways of securing a brighter future after retirement. Like you said it is hitch-free and stress-free, stay in the comfort of your home and enjoy all that you've worked for.

Life in reality is not always as it is in the movies where the actor ends up achieving his plans at the end exactly as he planned. If we're to rate bitcoin against other cryptocurrencies the difference is clear that bitcoin is the best amongst them all but that doesn't guarantee that people should stock in their retirement benefit plan on it. No one can really say for sure what the future of bitcoin does look like in the next 20 years, so wether it's hitch free or stress free it's still not a guarantee to put all our money in bitcoin as a retirement investment plan.

There are so many ways to make a retirement investment plan and I think bitcoin should be a fraction of many of it you make and not just wholly sinking all your eggs into it.

Furious 7

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Quote from: Wend on May 23, 2023, 08:55:25 AM

Quote from: Outhue on May 23, 2023, 03:21:47 AM

It's not doubt that Bitcoin is best for retirement but I won't gamble my future with just Bitcoin only, that's too risky, Bitcoin is no doubt the best digital currency but when we are talking about retirement plans it should not be the only plan you have, we don't know what the future of Bitcoin will look like and I am not ready to gamble on that, instead you have to be prepared for any possibility, nothing in this world is guaranteed and just because Bitcoin is the best doesn't make the risks gone forever.

You have a point there. After all, bitcoin is a very new asset and still not widely accepted, so there is still a lot of risk, and it would be a bad idea to bet our future entirely on bitcoin. I bet people are blind to bitcoin profits, and people always assume that bitcoin is the best, and they forget that everything is risky, bitcoin is no exception. I will diversify my assets to secure my future, I don't want to be a homeless old man when I put all my faith in bitcoin.

When we talk about investment, we should be aware that this is a small part of what you really do to support your life in the future, so it's just a side of your expenses and the savings you make because we really need to know that it's too much too a little dangerous though maybe in this case they consider bitcoin maximalist but still we don't need to risk everything here.
Enough to invest in what you are prepared to lose, especially in bitcoin because there really is no guarantee whatsoever about it considering the risks are also very large.
But even so, bitcoin remains worth it and is interesting to serve as an investment.
Even though life is a choice, as you said, you don't need to bet as much as you can't afford to lose because this can backfire on yourself.

flyingcarpet

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Quote from: FiveG on May 18, 2023, 08:07:51 PM

Think of when you're aged enough, and you've enough bitcoin investment, with your small or big family no time to wait for government to pay retirement benefits. At this aged point so many things plays in your minds but no much strength to carry out any physical activities or you're ready to relocate to your village or where you build house. If you've built a good investment relationship with bitcoin then bitcoin has the following retirement benefits preferred to government or company rights:

1. Your bitcoin is right inside your pocket with your devices, no need to loby to get paid
2. You don't need to submit application, retirement documents
3. Bitcoin has no waiting season, anytime is your money
4. You don't need to struggle, fight and loby to process your retirement documents
5. When you WILLS or share your bitcoin to your children nobody will hear it
6. Nobody will threatens or charm you for receiving retirement benefits from bitcoin since is not physical cash.
7. You decided when and how to withdraw or keep it your choice.
By retirement benefits I mean when you're aged enough and you're no longer into bitcoin trading or investing more but you've enough bitcoin to withdraw and share, built family house, business and trains children. That's show you retired great.

It is an excellent retirement method, considering the good aspects of Bitcoin. We can add many new ones to the benefits you have mentioned. In most countries, pensions are not enough for people to live comfortably. Alternatively, bitcoin may be the right method. But if you need money at a time when bitcoin's price is on the decline, it can cost you money. If you want to invest for many years and think about retirement: Bitcoin provides great advantages.

hannahB4

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Anybody who works does that so that he might have a better living but when we move to savings and investment for the future in which bitcoin investment is one of the best ways of securing a brighter future after retirement. Like you said it is hitch-free and stress-free, stay in the comfort of your home and enjoy all that you've worked for.

Wend

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Quote from: Lorence.xD on May 23, 2023, 09:34:15 AM

Quote from: Wend on May 23, 2023, 08:55:25 AM

Quote from: Outhue on May 23, 2023, 03:21:47 AM

It's not doubt that Bitcoin is best for retirement but I won't gamble my future with just Bitcoin only, that's too risky, Bitcoin is no doubt the best digital currency but when we are talking about retirement plans it should not be the only plan you have, we don't know what the future of Bitcoin will look like and I am not ready to gamble on that, instead you have to be prepared for any possibility, nothing in this world is guaranteed and just because Bitcoin is the best doesn't make the risks gone forever.

You have a point there. After all, bitcoin is a very new asset and still not widely accepted, so there is still a lot of risk, and it would be a bad idea to bet our future entirely on bitcoin. I bet people are blind to bitcoin profits, and people always assume that bitcoin is the best, and they forget that everything is risky, bitcoin is no exception. I will diversify my assets to secure my future, I don't want to be a homeless old man when I put all my faith in bitcoin.

There's no guarantee that Bitcoin would be accepted worldwide as currency currently but in the next decades probably it would be acknowledged by more countries as we have seen today. That's why I agree that it's still risky to put all your funds in Bitcoin so it would be better to split it into fiat money and some to Bitcoin. It's still better to have an investment for the future even you're not sure since it's part of the volatility of Bitcoin which involved risk. If you are not sure enough about Bitcoin why not spread your funds into some alternative coins, just do your own research cuz it's good to not put all your funds in one basket.

Instead of fiat, I will choose gold and bitcoin for my old age, I don't think fiat will keep its value until I retire. And I agree with what minaria3 said, investing in altcoins is not considered diversification, and they don't help you to reduce risk. I don't hate altcoins, but investing in them is like gambling and more suitable for the short term than the long term. Aside from ETH being a special case, do you see any altcoins that can survive and increase in price over time, like bitcoin? None, and all of them will die or be replaced by newer projects over time.

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Quote from: Lorence.xD on May 23, 2023, 09:34:15 AM

snip

If you are not sure enough about Bitcoin why not spread your funds into some alternative coins, just do your own research cuz it's good to not put all your funds in one basket.

This is even more false, bitcoin is the safest coin on the market, and if you don't believe in it there is no reason to believe in shitcoins. The entire market depends on bitcoin, once bitcoin crashes, the crypto market will also disappear. Investing in altcoins is not called diversification, it is called adding risk to your investment. Diversification is when you invest in gold, real estate, and non-crypto assets.

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Quote from: Wend on May 23, 2023, 08:55:25 AM

Quote from: Outhue on May 23, 2023, 03:21:47 AM

It's not doubt that Bitcoin is best for retirement but I won't gamble my future with just Bitcoin only, that's too risky, Bitcoin is no doubt the best digital currency but when we are talking about retirement plans it should not be the only plan you have, we don't know what the future of Bitcoin will look like and I am not ready to gamble on that, instead you have to be prepared for any possibility, nothing in this world is guaranteed and just because Bitcoin is the best doesn't make the risks gone forever.

You have a point there. After all, bitcoin is a very new asset and still not widely accepted, so there is still a lot of risk, and it would be a bad idea to bet our future entirely on bitcoin. I bet people are blind to bitcoin profits, and people always assume that bitcoin is the best, and they forget that everything is risky, bitcoin is no exception. I will diversify my assets to secure my future, I don't want to be a homeless old man when I put all my faith in bitcoin.

There's no guarantee that Bitcoin would be accepted worldwide as currency currently but in the next decades probably it would be acknowledged by more countries as we have seen today. That's why I agree that it's still risky to put all your funds in Bitcoin so it would be better to split it into fiat money and some to Bitcoin. It's still better to have an investment for the future even you're not sure since it's part of the volatility of Bitcoin which involved risk. If you are not sure enough about Bitcoin why not spread your funds into some alternative coins, just do your own research cuz it's good to not put all your funds in one basket.

uneng

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Quote from: Quidat on May 21, 2023, 03:58:02 PM

Quote from: The Cryptovator on May 21, 2023, 03:36:45 PM

While everything may seem fine, there is a small concern to be aware of. We acknowledge that Bitcoin has brought considerable gains to many individuals, but it's important to recognize that some people have also experienced losses with it. Let's imagine a scenario where you invested in Bitcoin when its price was $70,000, but by the time you retire, its price has dropped to $15,000. In such a situation, your financial circumstances would be significantly impacted. It's essential to consider these possibilities when contemplating investing in Bitcoin with the expectation that it will support you during retirement.

Nevertheless, we are aware that Bitcoin tends to follow historical patterns. Therefore, it requires patience to wait for favorable market conditions. It's prudent to have a backup plan, a Plan B, in case Bitcoin's value plummets during your retirement. This ensures that you have alternative strategies in place to safeguard your financial stability.

Always be mindful about the risks and never ever neglect out those probabilities or simply with those possibilities because there's no such thing about being risk-free in terms of investment.There's
always a risk for the price to be going into the opposite way on which majorly all of people or supporters of it are expecting. We cant know on what the future holds or would look like.
This is why its really that better to be mindful on what are those chances or probabilities to happen. Im not saying that it doesnt have the future or potential because bitcoin had never
failed to impress or surprise us but we cant really be sure still on what the future looks like.

Dont go all in with your retirement funds or whatever should really be supposed to be placed on the right place. Always take up measures and be mindful about risks because
everything could turn out to be a mess if things would really be going to the opposite side.

Although it can happen, so far it has never happened, as Bitcoin's price is continuously rising on long term, what fits perfectly the idea of a retirement plan if we think about an individual who is on his 20-40's right now. Of course not every money he has should go to this single plan, as diversification is advisable, even when talking about considered safe, low risk and low volatility investments.

I think the important is to not fear or neglect BTC investment. Invest more or invest less, but don't forget investing!

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Quote from: Outhue on May 23, 2023, 03:21:47 AM

It's not doubt that Bitcoin is best for retirement but I won't gamble my future with just Bitcoin only, that's too risky, Bitcoin is no doubt the best digital currency but when we are talking about retirement plans it should not be the only plan you have, we don't know what the future of Bitcoin will look like and I am not ready to gamble on that, instead you have to be prepared for any possibility, nothing in this world is guaranteed and just because Bitcoin is the best doesn't make the risks gone forever.

You have a point there. After all, bitcoin is a very new asset and still not widely accepted, so there is still a lot of risk, and it would be a bad idea to bet our future entirely on bitcoin. I bet people are blind to bitcoin profits, and people always assume that bitcoin is the best, and they forget that everything is risky, bitcoin is no exception. I will diversify my assets to secure my future, I don't want to be a homeless old man when I put all my faith in bitcoin.

ringgo96

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Everyone wants to have bitcoin assets especially those of us who are old and cannot do physical work and at that time we just enjoy without having to wait for benefits from the government, and easily we enjoy these assets without any interference from others and no one knows if we want to take for daily needs, and as you said all very easy for us to enjoy without having to wait for decisions from others, Hopefully we will all have bitcoin deposits in old age.

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Quote from: Outhue on May 23, 2023, 03:21:47 AM

It's not doubt that Bitcoin is best for retirement but I won't gamble my future with just Bitcoin only, that's too risky, Bitcoin is no doubt the best digital currency but when we are talking about retirement plans it should not be the only plan you have, we don't know what the future of Bitcoin will look like and I am not ready to gamble on that, instead you have to be prepared for any possibility, nothing in this world is guaranteed and just because Bitcoin is the best doesn't make the risks gone forever.

I wouldn't really bet on that, I mean bitcoin is doing great and I feel like it is going to keep doing great, and there are people who invest all their money into stocks and you think that would be something that would be a lot worse if they decide to switch to bitcoin instead?

I know that it doesn't make sense for some people but that's the reality we live in, if you really want to make sure that things going smoothly then you should invest into gold, that will make sure that you are doing as well as you should. I actually know one person like that, he has been putting money into gold every month whenever he can, he said he failed some months, but being doing that since 90's and he is about to retire. He can actually, he has enough to retire, he just doesn't feel ready. So, do that if you are unsure about bitcoin.

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It's not doubt that Bitcoin is best for retirement but I won't gamble my future with just Bitcoin only, that's too risky, Bitcoin is no doubt the best digital currency but when we are talking about retirement plans it should not be the only plan you have, we don't know what the future of Bitcoin will look like and I am not ready to gamble on that, instead you have to be prepared for any possibility, nothing in this world is guaranteed and just because Bitcoin is the best doesn't make the risks gone forever.

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Quote from: CryptoBuds on May 23, 2023, 12:19:57 AM

Profit from trading is not small if you are a good trader, the amount of profit you make can be much larger than you hold. And with the money you earn, it is enough for you to enjoy your old age without the care and support of your children.

Yes, I agree with you on this very statement of yours as stated above, but one thing that you need to understand is that the capital a trader invest while trading will definitely determine how big or small the profit he/she will stand to make, which is always far better when compared to people who just hodl their Bitcoin for years. Secondly, though it is good to invest for the future, but it is far better to invest in capital projects such as land, real estate and bitcoin, which all has the ability to increase in value as time goes on rather than investing on liabilities such as cars and rents.

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Quote from: bitterguy28 on May 22, 2023, 10:40:51 PM

Quote from: Nrcewker on May 22, 2023, 04:13:45 AM

Yes Bitcoin can really be considered as a great retirement plan. If you continuously plan to buy Bitcoins on a regular interval while working or making money, then definitely when you retire, at that time you will have sufficient funds to live the retirement life without in hassles. We have seen Bitcoins capabilities from 2009, it started from nothing, and now a very rare and expensive digital asset, so it only proves that the price will go up, as the time passes. So yes if you have enough Bitcoins while retiring, then you can easily spend the rest of your life in luxurious manner.

But only few are implementing this in regards to their investments here instead what they do is using this to buy and sell than to keep holding .

Profit from trading is not small if you are a good trader, the amount of profit you make can be much larger than you hold. And with the money you earn, it is enough for you to enjoy your old age without the care and support of your children. Furthermore, if everyone just holds and no one trades in the market, will the market even exist?

Quote from: bitterguy28 on May 22, 2023, 10:40:51 PM

I am already preparing for this mate and yes I have investing for years in bitcoin
Maybe it is small amount month after month but I make sure that there will be a room for my retirement .
I know that My children will leave us in future so me and my wife has something ready for our older years.
since my wife has no work and a pure housewife , i am actually providing for our future together .
maybe our children might help a little but we must have our own then.

I am like you in this, I am also investing and saving to take care of my old age. We will still take care of the children until they are adults, but I never thought I would have to depend on their pension when I get old. My wife and I are also preparing and caring for everything for our old age. I like freedom and independence, a part of me doesn't want to be a burden to my children.

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Quote from: FiveG on May 18, 2023, 08:07:51 PM

~

Well technically the "lobby" term would be the waiting for confirmation of your transaction. In personal or non-crypto term, that could be the least equivalent of the "lobby" you would compare to.

Bitcoin still has its own cons just like on how paper money still have its cons even if it requires no more internet connection.

I disagree in #6. If you have heard of $5 wrench attack then you might know that having Bitcoin is not really guaranteed that you would not be held hostage or even captive due to the amount of the money you're holding and in fact, you might even encounter more threats when holding crypto rather than holding physical money from the day of your retirement. This is when you disclose too much in your socmed.

Quote from: Nrcewker on May 22, 2023, 04:13:45 AM

Yes Bitcoin can really be considered as a great retirement plan. If you continuously plan to buy Bitcoins on a regular interval while working or making money, then definitely when you retire, at that time you will have sufficient funds to live the retirement life without in hassles. We have seen Bitcoins capabilities from 2009, it started from nothing, and now a very rare and expensive digital asset, so it only proves that the price will go up, as the time passes. So yes if you have enough Bitcoins while retiring, then you can easily spend the rest of your life in luxurious manner.

There's no guarantee that you would enjoy the rest of your life when you hold Bitcoin. We all know that you can earn from it, but again, it is a volatile market so nobody knows what would be the ATH as you age.

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Quote from: Nrcewker on May 22, 2023, 04:13:45 AM

Yes Bitcoin can really be considered as a great retirement plan. If you continuously plan to buy Bitcoins on a regular interval while working or making money, then definitely when you retire, at that time you will have sufficient funds to live the retirement life without in hassles. We have seen Bitcoins capabilities from 2009, it started from nothing, and now a very rare and expensive digital asset, so it only proves that the price will go up, as the time passes. So yes if you have enough Bitcoins while retiring, then you can easily spend the rest of your life in luxurious manner.

But only few are implementing this in regards to their investments here instead what they do is using this to buy and sell than to keep holding .

________________________________________________________________

I am already preparing for this mate and yes I have investing for years in bitcoin
Maybe it is small amount month after month but I make sure that there will be a room for my retirement .
I know that My children will leave us in future so me and my wife has something ready for our older years.
since my wife has no work and a pure housewife , i am actually providing for our future together .
maybe our children might help a little but we must have our own then.

Nrcewker

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Yes Bitcoin can really be considered as a great retirement plan. If you continuously plan to buy Bitcoins on a regular interval while working or making money, then definitely when you retire, at that time you will have sufficient funds to live the retirement life without in hassles. We have seen Bitcoins capabilities from 2009, it started from nothing, and now a very rare and expensive digital asset, so it only proves that the price will go up, as the time passes. So yes if you have enough Bitcoins while retiring, then you can easily spend the rest of your life in luxurious manner.

Topic: Bitcoin retirement benefits - page 2. (Read 726 times)