How many bitcoins do I need to retire in 20 years? - page 114.

sirohige

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Quote from: Tstar on November 22, 2015, 04:22:23 AM

My hope is, of course, that 21BTC will be much more in the future. Would be nice to have more but to be reasonable that's a fair amount right now.
Going slowly there.

you need 100BItcoin

you can do anything with 100btc in future

Bitcoin price will be stable at $1000 Grin

Tstar

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My hope is, of course, that 21BTC will be much more in the future. Would be nice to have more but to be reasonable that's a fair amount right now.
Going slowly there.

Karartma1

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Quote from: Tstar on November 21, 2015, 06:23:22 AM

If don't know the real value of BTC this is mere speculation: I said 21BTC and I'll stick to it. 21 out of 21millions seems good number to me.
I can wait

21 BTC is almost 7000$ right now. If it gives me early retirement I'm happy to spend my dollar savings right now for it.

umaOuma

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Quote from: Tstar on November 21, 2015, 06:23:22 AM

If don't know the real value of BTC this is mere speculation: I said 21BTC and I'll stick to it. 21 out of 21millions seems good number to me.
I can wait

Yeah 21 is a good number to hold, but how much we need at the time of our retirement will totally depend on the value of bitcoins at that particular time, like if the value of 1 BTC is in millions then even 1 BTC is enough to have a good life and if the value keeps on falling then even 100 BTC will not serve the purpose, it is very difficult at present to predict how much we should hold at the time of retirement.

Amph

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Quote from: bronan on November 20, 2015, 10:31:32 AM

For me about 1900k btc will just cover my costs and hobbies Wink

If i stay alive for another 30 years.
I count a little less each year i become older.

I do not know where you live but believe me your prices are insane low:

Basically the cost of living cheap would be this:

mortgage 1050 month
repair contracts for heating devices 100 month
gas/electricity 650 month
property taxes 330 month
water 110 month
Food 450 month
clothing 150 month
insurances health/house/glas 450 month

And thats not in dollars but euro's
I got a few miners running which cover about 350 euro a month
And this is even without the needed drinks/fruits and other hobbies i have.

this is fucking expensive, and with 1900 btc(1900k is not serious) you can't cover it in millions year

also it seems there are random taxes added, and gas electricity seems fucking high, how the hell one guy alone can spend 650 on bills alone is beyond me...

here electricity is 0.20 and i'm spending $50 a month for both...

Tstar

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If don't know the real value of BTC this is mere speculation: I said 21BTC and I'll stick to it. 21 out of 21millions seems good number to me.
I can wait

safari88

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500 - 1000BTC, I think in the old days you would be a lot of needs, not to mention you'll have a lot of grandchildren, great-grandchild or other

Lituation

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Quote from: bronan on November 20, 2015, 10:31:32 AM

For me about 1900k btc will just cover my costs and hobbies Wink

If i stay alive for another 30 years.
I count a little less each year i become older.

I do not know where you live but believe me your prices are insane low:

Basically the cost of living cheap would be this:

mortgage 1050 month
repair contracts for heating devices 100 month
gas/electricity 650 month
property taxes 330 month
water 110 month
Food 450 month
clothing 150 month
insurances health/house/glas 450 month

And thats not in dollars but euro's
I got a few miners running which cover about 350 euro a month
And this is even without the needed drinks/fruits and other hobbies i have.

So you need 1.9 million BTC to retire, huh? Are you serious or trolling?
If you have 1050 month mortgage, which means 87.5 years, either you have a mansion size of MJ have or I think mortgage company fucked you very bad. I'm sorry for you.

azguard

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Quote from: zodiac3011 on November 19, 2015, 12:49:04 PM

in 20 years... In my opinion you may need 500BTC to live quite well I suppose? By then bitcoin should have experience 2 more halving so the price is skyrocketed

this may be the case also it may that price never cross into 4 digits (more then 1000 which is hardly)
also in that case you will need about 100BTC to have some retirement maybe more depends on the price in that time or maybe less if price comes to 5 digits

bronan

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For me about 1900k btc will just cover my costs and hobbies Wink

If i stay alive for another 30 years.
I count a little less each year i become older.

I do not know where you live but believe me your prices are insane low:

Basically the cost of living cheap would be this:

mortgage 1050 month
repair contracts for heating devices 100 month
gas/electricity 650 month
property taxes 330 month
water 110 month
Food 450 month
clothing 150 month
insurances health/house/glas 450 month

And thats not in dollars but euro's
I got a few miners running which cover about 350 euro a month
And this is even without the needed drinks/fruits and other hobbies i have.

zodiac3011

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Quote from: Coinonomous on November 19, 2015, 09:44:44 PM

Quote from: erickimani on November 19, 2015, 09:38:03 PM

2 bitcoins will do for you for the next 20 years but also you could end up with nothing in case it collapses. The best thing is to invest as much as you can afford to lose

Nobody knows what bitcoin will be worth in 20 years. or if whatever wallet it's in will be recoverable. it's all a big experiment man.

if you still keep the private then it's fine Grin

why you say "recoverable"?

Mickeyb

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Move On !!!!!!

Quote from: darkangel11 on November 19, 2015, 11:00:28 AM

Quote from: Mickeyb on November 19, 2015, 10:17:10 AM

Quote from: ACAB on November 19, 2015, 07:12:01 AM

If you want to live luxurious retired life you need at least 20 coins, you want to live relaxed, enjoyable life you need 10 coins, you want to live normal life 1 coin is enough.

I like how you have put this down!

Now let's just wait for the price to get to the point where this will really be possible!

I love these predictions but 1 or 10 coins may not be enough. Bitcoin can never move beyond the point of $500 and remain the money of gamblers and nerds.

Who said that Bitcoin will remain only the money of gamblers and nerds?

Another thing, I am using Bitcoin and trust me I am not a nerd. Just like 10 more people around that I know and that are using Bitcoin. I don't like stereotyping and this nerd thing is just it!

Amph

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Quote from: btckold24 on November 18, 2015, 06:09:09 AM

hopefully btc is so high from halving in 20 years that we dont even use 1 btc but instead fractions Tongue

i doubt, to retire you need 1M at least or 500k, even if bitcoin would reach 1M per coin a fraction of it let's say 0.1 or 0.01 are not enough to retire in any case

If you want to live on the streets and be poor, yes you need 1 Million to retire. If you want to have a decent life you probably are looking around 3-5 million. You are going to need more than 100 coins in order to get that amount. Good luck!

what no... i need only 5k per year to live in a decent house with a decent life, so 500k is more than enough for me

you need 3-5 million if you want to hire whores every night...

That is assuming no mortgage payments or property taxes I am assuming? Also I hope you don't have a car or anything either.

Basically the cost of living cheap would be this:
500 mortgage/month
120 gas/electric/month
100 property tax/month
50 gas/month
say 160 food/month

Total of 930 a month which is not including fun, cable, any other payments you might have
*30 years is about 500k roughly.

That is if you retired right now. If you retire in 10 years, probably multiply that by about 1.25 or so for inflation. 20 years, 1.5.

If you can live that, and I low balled the crap out of everything congrats, I don't see that as a comfortable home, nor allowance for any fun.

with mortage you mean for the house? no there is no mortage, the house is completely payed and it's mine

i don't use car, bicyclette all the way, cheaper from every point of view, so no gas wasted, but foods is actually more expensive for me at least 200, up to 250

I did mean for a house payment. You still have to pay property taxes and gas/electric though. Sounds like you live fairly cheap. It still depends on when you will retire for how much money you need. Most experts agree that 1million right now is a low point of what you should retire.

well bills are not so expensive if you are alone, probably 100 for everything including internet and taxes on trash and something like that

those expert conduce a very healtly life by wasting money on useless festivity

Yeah I suppose it also depends on where you live too. Where I live there is no way you are paying taxes and trash and electric and gas for 100 dollars a month. Cable alone will set you back over $100 a month. So it definitely depends where and when you are retiring as well.

Conquered. There is no way most people could live on that budget in North America and Europe. Most people in the city I live in pay upwards of $2000 per month for rent alone. $500 would get you a room in a shared house if you're lucky. It's also another $100 for cable and another $50 for cell phone bills. And that still does not take into account luxuries.

that's not the problem, we are talking about utility bills, i have a plan 8mega connection, it cost me only 20 per month, and if you spend more than 20 in electricity per month, when you're alone you're doing something wrong, unless you're mining...

i'm not wasting money on renting an house, that is expensive here also, i kown it i'm avoiding like the plague, i'll simply buy a small house with two room and that's it it will cost me around 50k at max

coingiant1

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Quote from: Coinonomous on November 19, 2015, 09:44:44 PM

Quote from: erickimani on November 19, 2015, 09:38:03 PM

2 bitcoins will do for you for the next 20 years but also you could end up with nothing in case it collapses. The best thing is to invest as much as you can afford to lose

Nobody knows what bitcoin will be worth in 20 years. or if whatever wallet it's in will be recoverable. it's all a big experiment man.

As you said choosing the correct wallet will be a huge task, but for me I feel something like 15BTC will be perfect. 15BTC price in 2015 is a good gamble, Even if this thing collapses it will not affect me much economically.

Coinonomous

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Quote from: erickimani on November 19, 2015, 09:38:03 PM

2 bitcoins will do for you for the next 20 years but also you could end up with nothing in case it collapses. The best thing is to invest as much as you can afford to lose

Nobody knows what bitcoin will be worth in 20 years. or if whatever wallet it's in will be recoverable. it's all a big experiment man.

erickimani

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2 bitcoins will do for you for the next 20 years but also you could end up with nothing in case it collapses. The best thing is to invest as much as you can afford to lose

Lionidas

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Don't think you can safely retire with bitcoin. It is not a stable currency so in 40-50 years you don't know what it will be like. You are gambling with your future if you were totally to rely on it for security Roll Eyes

ronaldo40

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I do not know what will happen 20 years forward with bitcoin. whether the better and more users, if yes. at least you should buy 100btc

elyas772

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Quote from: zodiac3011 on November 19, 2015, 12:49:04 PM

in 20 years... In my opinion you may need 500BTC to live quite well I suppose? By then bitcoin should have experience 2 more halving so the price is skyrocketed

i think it's too much
500btc now = $165.000 i think $100 it's enough for retirement

now im in process to collect my 100btc

tommorisonwebdesign

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