How many bitcoins do I need to retire in 20 years? - page 119.

oblivi

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Quote from: leex1528 on November 06, 2015, 06:27:08 PM

Quote from: tobacco123 on November 06, 2015, 04:38:52 PM

If bitcoin is still around in 20 years, I agree that 1-2 BTC will be sufficient for average living expenses for your retirement. However, medical expenses will be expensive and I guess 10-20 BTC should be able to do that.

So you are saying 11-22 BTC we will need? I highly think that is wrong. You think the average price of Bitcoin in 20 years will be 227,000 dollars per coin? ha.

Perfectly possible, only a small amount of fiat needs to enter the market. Look at this video called "is a $100.000 Bitcoin possible?"

https://www.youtube.com/watch?v=g2nXgK34HIM

So yeah, with 100K a Bitcoin and 22 BTC you would have more than 2 million dollars, enough to retire in a non expensive place and live off interests. Of course, anyone selling 100% of their Bitcoins for fiat is insane. So when you plan to retire just sell 50% and save the rest.

leex1528

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Quote from: tobacco123 on November 06, 2015, 04:38:52 PM

If bitcoin is still around in 20 years, I agree that 1-2 BTC will be sufficient for average living expenses for your retirement. However, medical expenses will be expensive and I guess 10-20 BTC should be able to do that.

So you are saying 11-22 BTC we will need? I highly think that is wrong. You think the average price of Bitcoin in 20 years will be 227,000 dollars per coin? ha.

tobacco123

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If bitcoin is still around in 20 years, I agree that 1-2 BTC will be sufficient for average living expenses for your retirement. However, medical expenses will be expensive and I guess 10-20 BTC should be able to do that.

richardsNY

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Quote from: RealBitcoin on November 05, 2015, 04:02:43 PM

If bitcoin will be established.... 1 satoshi will be enough Cheesy

If all the quadrillions of $ of derivatives and the total debt based instruments would be denominated in BTC, then 1 satoshi would be enough.

If that's going to be the truth in the future I will have to search through my hdd's to find old wallet.dat files with around 5000-20000 satoshi's each Cheesy

leex1528

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Quote from: davinchi on November 06, 2015, 02:16:50 AM

Quote from: STT on November 05, 2015, 11:57:57 PM

Quote from: zimmah on November 05, 2015, 06:05:18 PM

You're wrong,

You wont even need a full Bitcoin.

This is correct, if we are seriously discussing 20 or 30 years 'retirement' Either bitcoin will exist at that point and be used, have worth exchanged in various retail trades or it will be dust in the wind.

If BTC really is being used in 20 years its going to be worth a ton, 21 million vs billions of people, even if only 1% of those are using it makes that system of worth alot per coin. 1 bitcoin will be all you need, I concur :p

I agree only less than one bitcoin is enough to retire after 20 years from now. With respect to current development and acceptance of bitcoin may expect more and more development in next 20 years. So one bitcoin worth more than one million dollars. So one million dollars is more than enough as the retirement fund.

I completely disagree with this. You think Bitcoin is going to be worth over 4million dollars per coin in 20 years? Whatever you are smoking put it down. That is such a huge increase from the price today it is almost a joke. Like I said, I think you will need roughly 1000-2000 coins to retire

STT

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Quote from: mixan on November 06, 2015, 02:30:03 PM

Why not safe guard yourself and have more than 1? You never know, they might impose a tax in the future if you hold more than a certain amount. It is the future so who knows but always prepare some kind of trust fund for a rainy day is my motto and it has served me well in any financial situation I have faced so far.

Because its not a certainty and it is possible for BTC to have no value. Its fairly certain gold will go up in value, why not have alot of that; the main reason is gold is not a useful product (by itself) and literally it can weigh you down if price falls its a liability.
The same question faced people in the housing boom, if 1 house will rise in value then why do you only own 1 house, why not 2, 3 or more. Really its the same answer, you only need 1 house and prices can fall for 10 years maybe and you have the problem of paying bills on all those things you dont need or use meanwhile. Of course people buy too much, then sell altogether at a loss which is a main cause of longer low prices and price spikes.

Basic conclusion is dont over invest in anything and definetly not purely bitcoin alone, not many of us absolutely require to have alot so its just speculation or gambling. If you are already rich then sure buy a few as pocket change for a rainy day, compound interest on mortage debt often makes that most compelling for average people

dragonusa9

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maybe $5 ~ $15
just speculate that bitcoin in 20 years in future will be $1000/1BTC
maybe you just live in small cozy house, and not in luxury

HarryKPeters

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Quote from: RealBitcoin on November 05, 2015, 04:02:43 PM

If bitcoin will be established.... 1 satoshi will be enough Cheesy

If all the quadrillions of $ of derivatives and the total debt based instruments would be denominated in BTC, then 1 satoshi would be enough.

LOL.

Weird thing is you are totally right..

mixan

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Quote from: davinchi on November 06, 2015, 02:16:50 AM

Quote from: STT on November 05, 2015, 11:57:57 PM

Quote from: zimmah on November 05, 2015, 06:05:18 PM

You're wrong,

You wont even need a full Bitcoin.

This is correct, if we are seriously discussing 20 or 30 years 'retirement' Either bitcoin will exist at that point and be used, have worth exchanged in various retail trades or it will be dust in the wind.

If BTC really is being used in 20 years its going to be worth a ton, 21 million vs billions of people, even if only 1% of those are using it makes that system of worth alot per coin. 1 bitcoin will be all you need, I concur :p

I agree only less than one bitcoin is enough to retire after 20 years from now. With respect to current development and acceptance of bitcoin may expect more and more development in next 20 years. So one bitcoin worth more than one million dollars. So one million dollars is more than enough as the retirement fund.

Why not safe guard yourself and have more than 1? You never know, they might impose a tax in the future if you hold more than a certain amount. It is the future so who knows but always prepare some kind of trust fund for a rainy day is my motto and it has served me well in any financial situation I have faced so far.

hangar18

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21 is indeed a perfect number. 21 million total coins, only 1 million people in the world will own 21 coins. This is definitely a good position to be in if bitcoin makes it huge in the next decade

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Quote from: romjpn on November 05, 2015, 09:54:11 PM

10 bitcoins I'd say (100k of today $ worth).

reasonable amount considering how much would price change i would say the same range between 10-20
if price comes to 5 digits cool nice retirement

7788bitcoin

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I think you will only need 5-10 BTC. I am working towards this goal!

davinchi

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Quote from: STT on November 05, 2015, 11:57:57 PM

Quote from: zimmah on November 05, 2015, 06:05:18 PM

You're wrong,

You wont even need a full Bitcoin.

This is correct, if we are seriously discussing 20 or 30 years 'retirement' Either bitcoin will exist at that point and be used, have worth exchanged in various retail trades or it will be dust in the wind.

If BTC really is being used in 20 years its going to be worth a ton, 21 million vs billions of people, even if only 1% of those are using it makes that system of worth alot per coin. 1 bitcoin will be all you need, I concur :p

I agree only less than one bitcoin is enough to retire after 20 years from now. With respect to current development and acceptance of bitcoin may expect more and more development in next 20 years. So one bitcoin worth more than one million dollars. So one million dollars is more than enough as the retirement fund.

STT

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Quote from: zimmah on November 05, 2015, 06:05:18 PM

You're wrong,

You wont even need a full Bitcoin.

This is correct, if we are seriously discussing 20 or 30 years 'retirement' Either bitcoin will exist at that point and be used, have worth exchanged in various retail trades or it will be dust in the wind.

If BTC really is being used in 20 years its going to be worth a ton, 21 million vs billions of people, even if only 1% of those are using it makes that system of worth alot per coin. 1 bitcoin will be all you need, I concur :p

romjpn

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10 bitcoins I'd say (100k of today $ worth).

VirosaGITS

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Quote from: leex1528 on November 05, 2015, 06:12:42 PM

Quote from: zimmah on November 05, 2015, 06:05:18 PM

Quote from: leex1528 on November 05, 2015, 05:43:53 PM

Quote from: MrsHash on November 05, 2015, 05:04:52 PM

Quote from: Tron on April 28, 2014, 01:17:29 PM

To be safe, get two Bitcoins.

Or better three. To be 100% calm about your retirement Cheesy

If you can retire off of 2 Bitcoins in 30 years or whatever or whenever you retire, you must leave dirt cheap:)

I would guess you are going to need around 1000-2000 coins in order to retire successfully.

You're wrong,

You wont even need a full Bitcoin.

Wow, the You're wrong defense. I guess i lose. I highly doubt the coins will be worth 5million dollars in 30 years. I HIGHLY DOUBT THAT. Of course that would be absolutely awesome if it was true. I thought I was stretching it with coins being valued at 3,000 to 4,000 dollars.

That sound kind of impossible, the market cap would be so huge it would be basically overtaking the global economy. Many country would be running solely on BTC and everything would have BTC transaction embedded. I'm not sure thats possible in the first place, but if it would happen, it would take longer.

There can't be that much progress in so little time. Something bad would definitively happened if we leaped into the future by that far so quick.

leex1528

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Quote from: zimmah on November 05, 2015, 06:05:18 PM

Quote from: leex1528 on November 05, 2015, 05:43:53 PM

Quote from: MrsHash on November 05, 2015, 05:04:52 PM

Quote from: Tron on April 28, 2014, 01:17:29 PM

To be safe, get two Bitcoins.

Or better three. To be 100% calm about your retirement Cheesy

If you can retire off of 2 Bitcoins in 30 years or whatever or whenever you retire, you must leave dirt cheap:)

I would guess you are going to need around 1000-2000 coins in order to retire successfully.

You're wrong,

You wont even need a full Bitcoin.

Wow, the You're wrong defense. I guess i lose. I highly doubt the coins will be worth 5million dollars in 30 years. I HIGHLY DOUBT THAT. Of course that would be absolutely awesome if it was true. I thought I was stretching it with coins being valued at 3,000 to 4,000 dollars.

Franciem

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Quote from: MrsHash on November 05, 2015, 05:04:52 PM

Quote from: Tron on April 28, 2014, 01:17:29 PM

To be safe, get two Bitcoins.

Or better three. To be 100% calm about your retirement Cheesy

how about six bitcoin Tongue

more is better safe

but i My goal is not high, only 10btc , i hope i can earn and hold it at 1year

zimmah

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Quote from: leex1528 on November 05, 2015, 05:43:53 PM

Quote from: MrsHash on November 05, 2015, 05:04:52 PM

Quote from: Tron on April 28, 2014, 01:17:29 PM

To be safe, get two Bitcoins.

Or better three. To be 100% calm about your retirement Cheesy

If you can retire off of 2 Bitcoins in 30 years or whatever or whenever you retire, you must leave dirt cheap:)

I would guess you are going to need around 1000-2000 coins in order to retire successfully.

You're wrong,

You wont even need a full Bitcoin.

leex1528

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Activity: 784

Merit: 1000

Quote from: MrsHash on November 05, 2015, 05:04:52 PM

Quote from: Tron on April 28, 2014, 01:17:29 PM

To be safe, get two Bitcoins.

Or better three. To be 100% calm about your retirement Cheesy

If you can retire off of 2 Bitcoins in 30 years or whatever or whenever you retire, you must leave dirt cheap:)

I would guess you are going to need around 1000-2000 coins in order to retire successfully.

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