How many bitcoins do I need to retire in 20 years? - page 122.

Amph

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Quote from: StevenLiang on October 30, 2015, 09:44:57 PM

And I think 400 BTC is a good number to be holding onto, But no one knows BTC's future price, you can make your own assumptions and make your purchase.

It can be good investment or maybe worst investment, it's your choice.

why 400? seems a random number, even 10 are enough if bitcoin reach 100k fo example

it's all about how much you earn right now, or how much you're willing to spend yo buy them, right now

ANdr0id

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Quote from: CryptInvest on October 30, 2015, 07:10:13 PM

I think 50 is enough. More can be about 10% to invest in the promising altcoins.

Buy a house with whatever price it is at that time. Same with all the other necessities you need in order to live. Then calculate how much you would need in a year to live comfortably. Multiply by 40, if you retire by age 60+. Find that amount in bitcoin Wink

StevenLiang

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And I think 400 BTC is a good number to be holding onto, But no one knows BTC's future price, you can make your own assumptions and make your purchase.

It can be good investment or maybe worst investment, it's your choice.

StevenLiang

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Quote from: gentlemand on October 30, 2015, 04:41:43 PM

Quote from: zimmah on October 30, 2015, 10:11:14 AM

you guys are funny, saying you need thousands of bitcoins, you are seriously underestimating how few 21 million is.

This is a straightforward fact that seems to slip countless minds on here. I think Bitcoin wallets should flash up a message every time you're about to gamble them away that says 'remember - there's only 21 million.' I'm still not convinced it would sink in though.

If REAL demand hits then that limitation will feel stunningly real.

Lol, that's a nice flash reminder.

"CAUTION: there's only 21 million." Cheesy

But in my opinion, that limitation issue is very important to make people want to hold bitcoin, and at the end of limitation promising day, it will announce new info:
"it finished, no more bitcoin added on the market, but alts still"

That's politic.

CryptInvest

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I think 50 is enough. More can be about 10% to invest in the promising altcoins.

bitcoin567

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you need a lot i believe like 20 minimum

VirosaGITS

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Quote from: tommorisonwebdesign on October 30, 2015, 04:53:27 PM

It probably is not wise at this point to use Bitcoin to invest for your retirement. If I were you I would look into a retirement savings plan. Since Bitcoin has only been around for six years, we can't say for certain where your investment will go. If anything, it will be lost in the next few months.

No but its nice to dream and if you bet 10BTC on being at 10k in 20 years, its not that much of an investment now and 100k for retiring is a nice bonus. However there are probably better things to do with your BTC than hold them for 20 years.

tommorisonwebdesign

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It probably is not wise at this point to use Bitcoin to invest for your retirement. If I were you I would look into a retirement savings plan. Since Bitcoin has only been around for six years, we can't say for certain where your investment will go. If anything, it will be lost in the next few months.

gentlemand

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Welt Am Draht

Quote from: zimmah on October 30, 2015, 10:11:14 AM

you guys are funny, saying you need thousands of bitcoins, you are seriously underestimating how few 21 million is.

This is a straightforward fact that seems to slip countless minds on here. I think Bitcoin wallets should flash up a message every time you're about to gamble them away that says 'remember - there's only 21 million.' I'm still not convinced it would sink in though.

If REAL demand hits then that limitation will feel stunningly real.

wearepoor

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Quote from: leex1528 on October 28, 2015, 11:35:51 AM

We can hardly predict the price of what Bitcoin will be in 2 weeks. I doubt we can predict what it will be in 20 years. My advice, save some Bitcoin and hope for the best, also have other retirement options as well. Don't put all your eggs into one basket as the old saying goes.

Yes, totally agreed with you. No one can predict this as the bitcoins prices are not stable, no one knows what will be the price of one btc after 20 years so its difficult for everyone. I would also suggest you to don't depend on bitcoins for the investment, try other options also.

zimmah

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Quote from: techboy2 on October 28, 2015, 11:40:40 AM

Assuming Bitcoin becomes really successful, anywhere from 250+ bitcoins to 2000+ bitcoins.

lol, you know only 10.000 people can hold 2000 bitcoins?

if bitcoin is successful in any way 1 to 10 bitcoin should be plenty

you guys are funny, saying you need thousands of bitcoins, you are seriously underestimating how few 21 million is.

Hugroll

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um lets say you wanna be a millionaire in 20 years , im guessing each bitcoin will be worth around 5k, you would need 200 coins today. thats still a pretty big number Angry

Laosai

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Quote from: SmoothCurves on October 28, 2015, 12:39:13 PM

You need 1 Bitcoin.

I don't think it's enough unless bitcoin price will pump out to $1M each (which I highly doubt will happen)

Quote from: Callahan on October 28, 2015, 12:52:17 PM

Holding btc?¿
or
trading btc?
Holding=100
Trading= 20

Dude I can't understand your post Huh

Would you mind elaborate more what you are trying to say?

StevenLiang

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Quote from: leex1528 on October 28, 2015, 11:35:51 AM

We can hardly predict the price of what Bitcoin will be in 2 weeks. I doubt we can predict what it will be in 20 years. My advice, save some Bitcoin and hope for the best, also have other retirement options as well. Don't put all your eggs into one basket as the old saying goes.

Do not put all your eggs into one basket. This is a good quote especially for long term financial planning.
In fact, we just know about bitcoin from 2009 until 2015. We can't say for 20 years up next.

Anyway, it's not safe to just hold BTC for your retirement, and of course you already know it.

BTC is good for investment. But you cannot just hold BTC, if you buy bitcoin on Jan 2013 (@ $1,200) and waited until today price @ $327
you will regret to put all your investment just into BTC.

But on vice versa,
someone who put everything on bitcoin in 2009. He already become millionaire now. And this people will keep holding BTC forever.

BitmoreCoin

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Quote from: leex1528 on October 28, 2015, 11:35:51 AM

We can hardly predict the price of what Bitcoin will be in 2 weeks. I doubt we can predict what it will be in 20 years. My advice, save some Bitcoin and hope for the best, also have other retirement options as well. Don't put all your eggs into one basket as the old saying goes.

The stock market always rise in long term. So you can predict safely that it will rise in 20 years. If bitcoin gets used widely, I can predict it will rise in 20 years.

Callahan

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Holding btc?¿
or
trading btc?
Holding=100
Trading= 20

SmoothCurves

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You need 1 Bitcoin.

smith coins

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Quote from: techboy2 on October 28, 2015, 11:40:40 AM

Assuming Bitcoin becomes really successful, anywhere from 250+ bitcoins to 2000+ bitcoins.

The bitcoin price is really changing rapidly,
And the number of bitcoin to be retired after 20years changes too.
So i think that we should stay with time and see the changes that will happen for the next 20 years, i would not say specific number.

StarofBTC

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Quote from: durrrr on April 28, 2014, 01:28:24 PM

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

To be safe, get two Bitcoins.

lol i agree with this. in 20 years 2 bitcoin may be worth 2,000,000$ and to me a 2m retirement fund would last if you plan on retiring at 60 and living untill 75 or whatever. specially if you have another income coming in still from ssi or whatever it may be

safe side get 5

i dont think only assuming that bitcoin will rise in 20 years is a valid answer totally.

Reason:-

The above statement is only seen with positive point of view.You have left the negative point in it

Below is a chart showing bitcoin price drop and price rise

So i dont think going down with positive point only matters,you have to check negative points too.
Thats why users get in Trading.

example:- Suppose he bought a 1 BTC in 2014 when price was around $ 400(assumption) and bitcoin prices drop to $250 in 2015 is it profitable for
a retired man?

OFFCOURSE NO!!!

You have to play with market then,which you can do it through Trading

iv4n

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Quote from: leex1528 on October 28, 2015, 11:35:51 AM

We can hardly predict the price of what Bitcoin will be in 2 weeks. I doubt we can predict what it will be in 20 years. My advice, save some Bitcoin and hope for the best, also have other retirement options as well. Don't put all your eggs into one basket as the old saying goes.

You said that very well, and I agree. It's tough to make predictions, especially about the future, there is to many possibilities. And there is to many "what if...". U need more options for sure, and if one goes down u will always have other one and its the best way. We'll see what the future holds. And my answer on your question is :" Forget about retirement, have fun now".

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