i 'plan' to save $100,000 per month in bitcoins, however i currently can't afford that much.
Topic: Bitcoin savings plan - page 3. (Read 4558 times)
I'm not. Using bitcoin to store wealth at this point is silly. You're silly.
Hmm.
Had you just said "Using bitcoin to store wealth is silly," I would understand your perspective.
At what point will it switch from being a bad idea to store wealth in bitcoin to being a good idea? What critical point do you think needs to be reached?
I'm not. Using bitcoin to store wealth at this point is silly. You're silly.
I don't have a regular income. I've not had one for many years. It's difficult to create a savings plan that makes any sense. I save everything except the money I need day to day. I currently have approximately 10% of my liquid wealth in BTC and in addition I'm planning to invest more than 10% to my company, which will be a Bitcoin startup. Starting in 2 months.
I have nephews who will be getting "bitcoin savings accounts" from me for Christmas, by way of wallets burned to CD and colorful address cards from paymyaddress.com. I imagine that I'll be dropping in a minimum of $20/month (total) to their accounts every month for the next 10 years. It's not much, but it's meant to be an example more than me actually trying to provide for other people's kids.
By then, especially if their parents also contribute (it may take a few years to get them to that point) they should be able to pay for whatever modernized job training that should have replaced the bloated, overpriced secondary education ripoff we currently have.
For myself, I'm saving regularly also... under $100 though (hey, precious metals are also nice....)
By then, especially if their parents also contribute (it may take a few years to get them to that point) they should be able to pay for whatever modernized job training that should have replaced the bloated, overpriced secondary education ripoff we currently have.
For myself, I'm saving regularly also... under $100 though (hey, precious metals are also nice....)
well the heck is the 0 option, if you decide not to save?
What kind of poll is this.
What kind of poll is this.
I think there should be negative saving options
for those who shorted on bitconica.
Right, this is indeed a great time to short.
well the heck is the 0 option, if you decide not to save?
What kind of poll is this.
What kind of poll is this.
I think there should be negative saving options
for those who shorted on bitconica.
well the heck is the 0 option, if you decide not to save?
What kind of poll is this.
What kind of poll is this.
Well it also doesn't have options for those who are gradually selling out of their BTC hoardings.
It seems reasonable that zero or less don't qualify as 'savings' so aren't being surveyed.
well the heck is the 0 option, if you decide not to save?
What kind of poll is this.
What kind of poll is this.
Zero. 
$3000 at least.
This is a conundrum. Do I buy a lot of Bitcoin or do I help develop the Bitcoin economy by investing money in real world applications? The former could have me ending up with a lot of worthless Bitcoin, the latter could make my few Bitcoin worth a lot.
You buy a lot of BTC then invest them in real world applications for Bitcoin.
You won't be the one having to sell them for fiat, so you'll feel good about yourself. One of the best current applications for Bitcoin is investing.
This is a conundrum. Do I buy a lot of Bitcoin or do I help develop the Bitcoin economy by investing money in real world applications? The former could have me ending up with a lot of worthless Bitcoin, the latter could make my few Bitcoin worth a lot.
So, my plan as of right now is $100 / month.
I plan to put $100 in each month going forward whether the price jumps to $10/BTC or if it drops to 10 cents / BTC.
By steadily putting in money over time, it will average out the price that I buy BTC for. This is simply a long term savings plan and I assume I'm not the only person doing this.
Also, if we assume all miners are selling coins, we need 7,200 BTC "purchased" by non-miners daily or about 215,000 BTC a month.
At current prices this requires, $600,000 a month. Granted some people are purchasing/selling speculatively based on current price, but another population of people could be "savers" like me.
Hopefully, this poll can give an idea of who will be steadily flowing USD into bitcoin over the coming months. If there's not 600k / month, then the price is sure to drop again before the end of 2012.
Feel free to update your vote as you adjust your plan. We'll see how much data we can gather here.
I plan to put $100 in each month going forward whether the price jumps to $10/BTC or if it drops to 10 cents / BTC.
By steadily putting in money over time, it will average out the price that I buy BTC for. This is simply a long term savings plan and I assume I'm not the only person doing this.
Also, if we assume all miners are selling coins, we need 7,200 BTC "purchased" by non-miners daily or about 215,000 BTC a month.
At current prices this requires, $600,000 a month. Granted some people are purchasing/selling speculatively based on current price, but another population of people could be "savers" like me.
Hopefully, this poll can give an idea of who will be steadily flowing USD into bitcoin over the coming months. If there's not 600k / month, then the price is sure to drop again before the end of 2012.
Feel free to update your vote as you adjust your plan. We'll see how much data we can gather here.
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