Topic: how many Bitcoin do you need to live comfy in event of hyperinflation? (Read 825 times)
November 07, 2020, 12:16:11 PM
Actually, this is a very interesting question, but in any case the answer will depend only on what is the price of bitcoin. Even if we take into account today's bitcoin prices at the level of 15,000 / 16,000 dollars, then I believe that at least 10 Bitcoin would be enough for me to implement my plans. My requests are not very large and I am content with small ones. In addition, as they say, the more money there is, the more you want it, and the more money, the harder it is to keep it and stay safe.
November 05, 2020, 05:27:17 PM
The hyperinflation of the dollar will mean the collapse of the entire world economy, and I think in these conditions, bitcoin will also lose its value. Only food, weapons, gasoline and sheltered accommodation will be valuable. If we talk about moderate inflation, then I think 100 bitcoins for me would be the solution to most of my problems)
Many are curious on what will happen if dollars fall and that's one of might possibly happen since for sure all country who rely with the US economy will collapsed also, I remember on the past global economic crisis where many got affected and how much more if that happen today. Although cryptocurrency is a good alternative but we cannot rely it for now due to unpredictable volatility of it.
And 100 Bitcoin is quite huge to leave a comfy life but that's not sustainable so I will double up the figures since the one I think is 200 bitcoins and for that we can build a huge business and other more.
Unfortunately, I live in a third world country (Russia), so for me the amount of 100 bitcoins is already huge. But I'm not really looking for a sum to stop working. Rather, I'm looking for an amount of money that will allow me to change my country of residence with maximum comfort, and 100 bitcoins with a large reserve allow me to do this.
November 04, 2020, 11:13:24 AM
Depending on your definition, the dollar is already hyper-inflating.
Stats show that real world asset price inflation is now ~6-8%/year.
The Fed targets 2%/year, so real asset inflation is already running 300-400% of that per year. That means the amount of inflation that should span the next 30 years, will only span the next 10.
The Fed is also saying we aren't even at their 2% inflation target, which is fkn laughable.
Stats show that real world asset price inflation is now ~6-8%/year.
The Fed targets 2%/year, so real asset inflation is already running 300-400% of that per year. That means the amount of inflation that should span the next 30 years, will only span the next 10.
The Fed is also saying we aren't even at their 2% inflation target, which is fkn laughable.
November 04, 2020, 10:46:44 AM
I will need a lot of BTC to live comfortably. If you have a family of your own already, living comfortably could be hard with jus 100BTC. Comfortable means not working anymore, just waiting for weekly dividends and living in a house with each member of my family have cars.
The hyperinflation of the dollar will mean the collapse of the entire world economy, and I think in these conditions, bitcoin will also lose its value. Only food, weapons, gasoline and sheltered accommodation will be valuable. If we talk about moderate inflation, then I think 100 bitcoins for me would be the solution to most of my problems)
Also depends on the country and the economy because I have seen some who work for super cheap prices which suggest that the wages are low in their country and that means even 10 BTC might be more than enough but it would be equally difficult for them to save or earn 10 bitcoins though.so that is enough to make us live in hyperinflation .
Quote
I don't believe in savings as much as I believe in active and passive earnings.
You don't believe in Saving?looks like i am not agreed on this mate because being Investor here and holding for long term it is considered as Savings mate,Not only n banking but also in our own way of investing.
The question is what could 1M local currency could buy. If 1M local currency can't even buy a house, then they can't live comfortably. An old car can worth about 500K. the other half could just be enough to live for a year.
November 04, 2020, 09:52:38 AM
Give me 50 bitcoins and I will never need to work ever again in my life. No questions asked, I could be in a great nation European countries and have more expensive life, or I could be in places like Zimbabwe or Venezuela and I would still live with 50 bitcoins forever without ever working again. That is my goal in life, to have 50 bitcoins and after that I am going to stop ever working again.
I would probably still work for fun because I hate not doing anything but won't do it for money anymore. What you imagine as hyperinflation happens in currencies of governments, not in crypto world, so if you ever have 50 bitcoins, no matter what happens to fiat of where you live, you are going to be fine and as long as you do not cash it out like crazy, you are going to live a comfortable life just with bitcoin interests you get.
I would probably still work for fun because I hate not doing anything but won't do it for money anymore. What you imagine as hyperinflation happens in currencies of governments, not in crypto world, so if you ever have 50 bitcoins, no matter what happens to fiat of where you live, you are going to be fine and as long as you do not cash it out like crazy, you are going to live a comfortable life just with bitcoin interests you get.
November 03, 2020, 05:25:02 PM
The hyperinflation of the dollar will mean the collapse of the entire world economy, and I think in these conditions, bitcoin will also lose its value. Only food, weapons, gasoline and sheltered accommodation will be valuable. If we talk about moderate inflation, then I think 100 bitcoins for me would be the solution to most of my problems)
This is likely going to be the effect if the dollar collapse from hyperinflation. Economically, it means the world system will go down because investment of any form will not be important and anarchy will take over and lots of confusion and conflict.
November 03, 2020, 02:58:05 PM
I'm not a heavy spender so it would do 10BTC-20BTC. Is that much? not that really and it can go lower.
I've given that estimation because I can think of other things that I can do with that amount. I wouldn't just keep it for the rest of my life but I'll take another risk of establishing businesses which will run passive income and invests into other things.
It's also a way to fight hyperinflation to have continuous cash flow.
I've given that estimation because I can think of other things that I can do with that amount. I wouldn't just keep it for the rest of my life but I'll take another risk of establishing businesses which will run passive income and invests into other things.
It's also a way to fight hyperinflation to have continuous cash flow.
November 03, 2020, 08:58:10 AM
The hyperinflation of the dollar will mean the collapse of the entire world economy, and I think in these conditions, bitcoin will also lose its value. Only food, weapons, gasoline and sheltered accommodation will be valuable. If we talk about moderate inflation, then I think 100 bitcoins for me would be the solution to most of my problems)
Also depends on the country and the economy because I have seen some who work for super cheap prices which suggest that the wages are low in their country and that means even 10 BTC might be more than enough but it would be equally difficult for them to save or earn 10 bitcoins though.so that is enough to make us live in hyperinflation .
Quote
I don't believe in savings as much as I believe in active and passive earnings.
You don't believe in Saving?looks like i am not agreed on this mate because being Investor here and holding for long term it is considered as Savings mate,Not only n banking but also in our own way of investing.
November 03, 2020, 08:49:44 AM
The hyperinflation of the dollar will mean the collapse of the entire world economy, and I think in these conditions, bitcoin will also lose its value. Only food, weapons, gasoline and sheltered accommodation will be valuable. If we talk about moderate inflation, then I think 100 bitcoins for me would be the solution to most of my problems)
they wont hyper inflate the usd.
it simply will inflate 50-100% every 10 years.
November 03, 2020, 08:22:51 AM
The hyperinflation of the dollar will mean the collapse of the entire world economy, and I think in these conditions, bitcoin will also lose its value. Only food, weapons, gasoline and sheltered accommodation will be valuable. If we talk about moderate inflation, then I think 100 bitcoins for me would be the solution to most of my problems)
Also depends on the country and the economy because I have seen some who work for super cheap prices which suggest that the wages are low in their country and that means even 10 BTC might be more than enough but it would be equally difficult for them to save or earn 10 bitcoins though.earnings.
this amount of million is hard to gain or save if your from these country and if you dont have a wealthy life but thats not important because this question are only fictional , he ask if what btc are enough and we can answer any amount depending on us but why not do it for real ? save now at smaller portions and when btc pump really high , a million value will be easily achievable . preparing is a must because inflation are also real
November 01, 2020, 04:25:11 PM
The hyperinflation of the dollar will mean the collapse of the entire world economy, and I think in these conditions, bitcoin will also lose its value. Only food, weapons, gasoline and sheltered accommodation will be valuable. If we talk about moderate inflation, then I think 100 bitcoins for me would be the solution to most of my problems)
Also depends on the country and the economy because I have seen some who work for super cheap prices which suggest that the wages are low in their country and that means even 10 BTC might be more than enough but it would be equally difficult for them to save or earn 10 bitcoins though.For me, I don't believe any amount of bitcoins would be enough because I work and earn and I don't believe in savings as much as I believe in active and passive earnings. Savings and people who earn through interest from banks are not the most intelligent people in my opinion.
November 01, 2020, 12:42:06 PM
I really think that at the beginning of such event the price of bitcoin will go down as dumb people sell their coins for cheap, but once people realize that this is the crisis we all have been expecting they will try to find a refuge for their wealth and bitcoin will be there to help them, at exorbitant prices of course
Bitcoin is the safe haven for the poor
And if things massively go awry in the way you mean it, Bitcoin, as a speculative asset, will likely crash monumentally. I somewhat agree with Warren Buffet who says that there's no value in Bitcoin. What I disagree with, though, is his understanding of value. Basically, he sticks to a narrow definition of it, i.e. something which can create new value (for example, a car manufacturer). However, if something allows redistribution of existing value in one way or another, this capacity can also have value of its own, especially if you can leverage it
November 01, 2020, 12:33:14 PM
Nations are different from each other, I am sure if you had 1 bitcoin there are tons of places in the world where you could live through a huge hyperinflation without any problem, but there are also places where you can't live with 1 bitcoin alone. For example in USA $13k is good enough for few months at best, unless you are some college kid you will run that money out very quickly, but look at places like Nigeria, there $13k dollars would help you live a year or maybe even more and closer to 2 years.
So, having a set amount of money will never be enough, doesn't matter how much unless it is too much that we wouldn't even be talking here, no matter how much money you have, you should also focus on income, without income the money you have will run out eventually.
I think we all know that, however in the case the world economy goes through an hyperinflation, something we know will happen sooner or later, at that particular point you will not be able to depend on your income as most likely you will lose your job and you will need to depend on the wealth you have accumulated over the years.So, having a set amount of money will never be enough, doesn't matter how much unless it is too much that we wouldn't even be talking here, no matter how much money you have, you should also focus on income, without income the money you have will run out eventually.
I really think that at the beginning of such event the price of bitcoin will go down as dumb people sell their coins for cheap, but once people realize that this is the crisis we all have been expecting they will try to find a refuge for their wealth and bitcoin will be there to help them, at exorbitant prices of course.
November 01, 2020, 09:34:35 AM
The hyperinflation of the dollar will mean the collapse of the entire world economy, and I think in these conditions, bitcoin will also lose its value. Only food, weapons, gasoline and sheltered accommodation will be valuable. If we talk about moderate inflation, then I think 100 bitcoins for me would be the solution to most of my problems)
they wont hyper inflate the usd
I mostly agree with this
But you should certainly remember the second half of 1970s when the dollar had been losing like 20% of its purchasing power every year, year in and year out. I don't know if this counts as inflating, but these rates can be felt pretty well by the general public unlike mild inflation around 2-3% annually, which goes mostly unnoticed. Further, who could have foreseen only a year ago what 2020 would pit us against? And what if we are not done yet, as some claim?
November 01, 2020, 09:22:19 AM
The hyperinflation of the dollar will mean the collapse of the entire world economy, and I think in these conditions, bitcoin will also lose its value. Only food, weapons, gasoline and sheltered accommodation will be valuable. If we talk about moderate inflation, then I think 100 bitcoins for me would be the solution to most of my problems)
they wont hyper inflate the usd.
it simply will inflate 50-100% every 10 years.
November 01, 2020, 09:12:51 AM
The hyperinflation of the dollar will mean the collapse of the entire world economy, and I think in these conditions, bitcoin will also lose its value. Only food, weapons, gasoline and sheltered accommodation will be valuable. If we talk about moderate inflation, then I think 100 bitcoins for me would be the solution to most of my problems)
Many are curious on what will happen if dollars fall and that's one of might possibly happen since for sure all country who rely with the US economy will collapsed also, I remember on the past global economic crisis where many got affected and how much more if that happen today. Although cryptocurrency is a good alternative but we cannot rely it for now due to unpredictable volatility of it.
And 100 Bitcoin is quite huge to leave a comfy life but that's not sustainable so I will double up the figures since the one I think is 200 bitcoins and for that we can build a huge business and other more.
November 01, 2020, 08:37:38 AM
The hyperinflation of the dollar will mean the collapse of the entire world economy, and I think in these conditions, bitcoin will also lose its value. Only food, weapons, gasoline and sheltered accommodation will be valuable. If we talk about moderate inflation, then I think 100 bitcoins for me would be the solution to most of my problems)
November 01, 2020, 02:14:08 AM
how many Bitcoin do you need to live comfy in the event of hyperinflation? is 1 BTC enough?
hyperinflation for nocoiners
hyperdeflation for bitcoiners
hyperinflation for nocoiners
hyperdeflation for bitcoiners
1 Bitcoin enough maybe 100 or 1000 Bitcoin is enough, the more we have the more expenses that we are going to incur, and living a comfortable life is an on going expenses, unless you know how to handle your business, living a comfortable life and living a sufficient life is very different from since you've used the word comfy, it will not enough however a big amount.
October 31, 2020, 04:44:57 PM
Okay I am 63. Lets pretend I live 30 years at my current standards.
I need about 2 million usd. pretending zero inflation.
so 150:coins should do it.
I need about 2 million usd. pretending zero inflation.
so 150:coins should do it.
Planning to sell everything in the $13,000s? Talk about setting your sights low!
Assuming people have the patience to wait several years, I think they'll need only a very small fraction of those 150 coins. Maybe just one coin, or 3.
Million dollar coins are coming, sooner than most people think.
of course not. but I spend 65000 a year. I am 63 and plan to live 30 year or more.
so 5 coins covers me for each year. if all money and all coins stay flat.
Since money in usa will drop in value and coins will rise in value I made my calculation then they will be exactly counter balanced over the next thirty years.
so if 65000 a now works it is five coins a year.
in 10 years if 130000 a year works and coins are 26k it is still five coins a year.
in 20 years if 260000 a year works and coins are 52k it is still five coins a year.
in 30 years if 520000 a year works and coins are 104k it is still five coins a year.
If you are correct and coins rise faster then dollar drops I will have left over coins when I am ninety.
30 x 12 is 360 months. If i have 150 coins I can cash a coin every 2-3 months.
October 31, 2020, 03:33:06 PM
how many Bitcoin do you need to live comfy in the event of hyperinflation? is 1 BTC enough?
hyperinflation for nocoiners
hyperdeflation for bitcoiners
hyperinflation for nocoiners
hyperdeflation for bitcoiners
I think it would depend on where you currently live.
$1 would be different on each country we could buy more or less depending on which country we are at.
And it would depend if it is only you or with your family and how many family members would be with you and for how long.
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