How many bitcoins do I need to retire in 20 years? - page 100.

diodio5

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Quote from: HWoodrow on December 24, 2015, 07:04:31 AM

Quote from: Alley on April 28, 2014, 12:04:32 PM

Lets say I want to buy bitcoins today and store them for 20 years to use a my retirement fund. Live comfortably, but don't need to buy a yacht or anything. How many do you think I would need to buy?

Main rule is to invest what you can afford to lose. Then, if you think that price whitin 20 years will be more higher than now, invest. 1 BTC-2 BTC are the same thing in the end. If you have a passionate idea about BTC, you have to believe about it.

yeah you right, before investing you should know first the risk will occur, so that if you lose, you will not be frustrated,
I think bitcoin has a small risk

HWoodrow

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Quote from: Alley on April 28, 2014, 12:04:32 PM

Lets say I want to buy bitcoins today and store them for 20 years to use a my retirement fund. Live comfortably, but don't need to buy a yacht or anything. How many do you think I would need to buy?

Main rule is to invest what you can afford to lose. Then, if you think that price whitin 20 years will be more higher than now, invest. 1 BTC-2 BTC are the same thing in the end. If you have a passionate idea about BTC, you have to believe about it.

conio.h

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For every 2BTC per month you want to have for a 20-year period, at the end of which the portfolio is zero, you need a lump sum of 40BTC. Thus, if you want 20BTC per month, you must have a lump sum of 400BTC. If you feel like you have really good genes and expect to live 30 years in retirement, then the present value of that stream of money must be 55BTCper 2BTC or 550BTC for 20BTC per month. If you keep everything the same, but assume a 6% positive return, the lump sum required is 36BTC per 2BTC for a 20-year payout and 470BTC for a 30-year span.

Epicnicity

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I think it depends on how much money you're going to need when you do retire. How much your expenses will be and how much you're going to give yourself to spend. If you can get 1000 bitcoins, that would be a save number of bitcoins to have for your retirement.

azguard

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Quote from: Betwrong on December 21, 2015, 04:51:41 AM

Quote from: Alley on April 28, 2014, 12:04:32 PM

Lets say I want to buy bitcoins today and store them for 20 years to use a my retirement fund. Live comfortably, but don't need to buy a yacht or anything. How many do you think I would need to buy?

In 20 years IMO the price of 1 Bitcoin will be around $10k, I mean if for 1 USD will be possible to buy same things as today. So if you are going to live 40 years more from that time and you want to spend around $5k or BTC0.5 per month(which I think is a pretty good amount for a comfortable life) then

40 x 12 x 0.5 = 240

The answer to your question is BTC240.

nice amount but think that half would be fine maybe less we can tell how much it will change in that time

ThunderThomas

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Really just depends on how much you're going to spend when you're retiring such as living expenses.
If you do retire, you could still invest in bitcoin by just holding and exchanging when you can make some good profits.

jt byte

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Quote from: zodiac3011 on December 21, 2015, 09:42:59 AM

Quote from: avw1982 on December 21, 2015, 06:44:03 AM

Quote from: zodiac3011 on December 17, 2015, 09:45:34 AM

Quote from: znickelbackz on December 17, 2015, 09:00:27 AM

20 years is really long, maybe btc will become useless after just 10 more years, who knows?

10 years? maybe not I think. The mining reward of bitcoin is not low enough so that miners will stop mining. Only one situation can cause bitcoin to die is the digital currency created by governments kills it

No bitcoin will not die. As you said mining will reduce from the bitcoin miners. Now 32500 Bitcoins mining per year. After 20 years We can expect may be 3 BTC only Mining by miner. That time Demand and price for the bitcoin Only get increase. It will not die at all.

20 years is a long time my friend. After that much time, technology has grown to an unimaginable rate that bitcoin maybe just an old and obsolete thing before it reaches 3 BTC mined per year.

Yeah 20 years a long time, with that time you can just collect so much bitcoin as you can if you want to retire with bitcoins.
I think that 100 BTC is more than enought, because I bet you won't do that much activity when you are old.

zodiac3011

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Quote from: avw1982 on December 21, 2015, 06:44:03 AM

Quote from: zodiac3011 on December 17, 2015, 09:45:34 AM

Quote from: znickelbackz on December 17, 2015, 09:00:27 AM

20 years is really long, maybe btc will become useless after just 10 more years, who knows?

10 years? maybe not I think. The mining reward of bitcoin is not low enough so that miners will stop mining. Only one situation can cause bitcoin to die is the digital currency created by governments kills it

No bitcoin will not die. As you said mining will reduce from the bitcoin miners. Now 32500 Bitcoins mining per year. After 20 years We can expect may be 3 BTC only Mining by miner. That time Demand and price for the bitcoin Only get increase. It will not die at all.

20 years is a long time my friend. After that much time, technology has grown to an unimaginable rate that bitcoin maybe just an old and obsolete thing before it reaches 3 BTC mined per year.

Denker

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Quote from: BitsandBites on December 21, 2015, 05:03:18 AM

For me doesn't matter how much bitcoin I will have in retirement I think you just need to live your life in fullest so that when you retirement would be nice, because money won't be an issues if you are old.

So what you mean is live everyday as it would be your last one right!
Even if I do that for 20 or 30 years, living on full throttle, with doing any savings for the years, I will not be able to work anymore or being too old to get a job, what will I do then?Vegetating the last 10-15 years I have, speculating on social welfare and eat food out of the trash can?No thanks!

avw1982

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Quote from: zodiac3011 on December 17, 2015, 09:45:34 AM

Quote from: znickelbackz on December 17, 2015, 09:00:27 AM

20 years is really long, maybe btc will become useless after just 10 more years, who knows?

10 years? maybe not I think. The mining reward of bitcoin is not low enough so that miners will stop mining. Only one situation can cause bitcoin to die is the digital currency created by governments kills it

No bitcoin will not die. As you said mining will reduce from the bitcoin miners. Now 32500 Bitcoins mining per year. After 20 years We can expect may be 3 BTC only Mining by miner. That time Demand and price for the bitcoin Only get increase. It will not die at all.

Nadicona

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Quote from: MaxTax on December 18, 2015, 07:54:07 PM

Either you need 1, or you need 1 million. I believe in extreme's and this can go both ways.

It will be the invention of the century, or it will be a big FAIL.

If bitcoin goes to 0, you cannot have any bitcoins. I just wish bitcoin to evolve all the time and does not die.

BitsandBites

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For me doesn't matter how much bitcoin I will have in retirement I think you just need to live your life in fullest so that when you retirement would be nice, because money won't be an issues if you are old.

LarryHocks

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I think it depends on how much you're going to spend the rest of your life or the rest of your retirement.

If you're expenses are high then you'll need more bitcoins, it really depends on how much you expect to spend when you're in your retirement phase.

Betwrong

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Quote from: Alley on April 28, 2014, 12:04:32 PM

Lets say I want to buy bitcoins today and store them for 20 years to use a my retirement fund. Live comfortably, but don't need to buy a yacht or anything. How many do you think I would need to buy?

In 20 years IMO the price of 1 Bitcoin will be around $10k, I mean if for 1 USD will be possible to buy same things as today. So if you are going to live 40 years more from that time and you want to spend around $5k or BTC0.5 per month(which I think is a pretty good amount for a comfortable life) then

40 x 12 x 0.5 = 240

The answer to your question is BTC240.

Bitcoinbro

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Quote from: asa.convex on December 21, 2015, 03:42:45 AM

I would say around 100 BTC... If you want to live a comfortable lifestyle after retirement.

Yeah that is a good amount to have after retirement what are you going really to do.
You will be old, you are just going to just eat sit sleep and over and over Tongue

If I had more than 1000 Bitcoin I would just retire now.

asa.convex

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I would say around 100 BTC... If you want to live a comfortable lifestyle after retirement.

azguard

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Quote from: Denker on December 20, 2015, 03:51:37 PM

Quote from: 2double0 on December 20, 2015, 04:36:05 AM

If you are thinking to retire in 20 years based on fiat, then it is not assumable.
But if you want to retire based on just Bitcoins, and if it ever gets completely used-to by the whole world, then even 100 Bitcoins would do.

If the whole world should use Bitcoin one day then you will need much less than 100 BTC.
The whole world does not only mean the average people using it, but also part of the financial markets, foreign remittances, global gambling,e-commerce, new unkown industries and ways of generating income in form of crypto currencies, etc.
This would be a scenario where we would talk about bits to have a comfortable life.And owning 10 BTC for instance would make you rich.

interesting concept and i truly think we can see whole world using btc but not in our lifetime
need more work to be done and it can not be over night

i also think that in near future we will pay with crypto cards everything and real money will be just in museums

Denker

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Quote from: 2double0 on December 20, 2015, 04:36:05 AM

If you are thinking to retire in 20 years based on fiat, then it is not assumable.
But if you want to retire based on just Bitcoins, and if it ever gets completely used-to by the whole world, then even 100 Bitcoins would do.

If the whole world should use Bitcoin one day then you will need much less than 100 BTC.
The whole world does not only mean the average people using it, but also part of the financial markets, foreign remittances, global gambling,e-commerce, new unkown industries and ways of generating income in form of crypto currencies, etc.
This would be a scenario where we would talk about bits to have a comfortable life.And owning 10 BTC for instance would make you rich.

bitlancr

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Quote from: HarryKPeters on December 20, 2015, 12:56:45 PM

Quote from: 2double0 on December 20, 2015, 04:36:05 AM

If you are thinking to retire in 20 years based on fiat, then it is not assumable.
But if you want to retire based on just Bitcoins, and if it ever gets completely used-to by the whole world, then even 100 Bitcoins would do.

100 is a good amount although I expect the price to go very high in the near future. Right now i would just buy as much bitcoin as you can by good saving etc.
Don't watch the markets too much, else you would be tempted to sell.

If you buy for 20 years, make sure to hold them at least 15 years, to truly get the max. out of it.

I bought and sold a lot of bitcoins so far. And you are right i am not disciplined enough to just stash them away. Taking profit every time of a rise, makes me sell to buy back later.
From today I will keep a no sell wallet, which is meant for the 'future' Thanks for this advice.

HarryKPeters

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Quote from: 2double0 on December 20, 2015, 04:36:05 AM

If you are thinking to retire in 20 years based on fiat, then it is not assumable.
But if you want to retire based on just Bitcoins, and if it ever gets completely used-to by the whole world, then even 100 Bitcoins would do.

100 is a good amount although I expect the price to go very high in the near future. Right now i would just buy as much bitcoin as you can by good saving etc.
Don't watch the markets too much, else you would be tempted to sell.

If you buy for 20 years, make sure to hold them at least 15 years, to truly get the max. out of it.

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