How many bitcoins do I need to retire in 20 years? - page 127.

Denker

legendary

Activity: 1442

Merit: 1016

Quote from: smith coins on October 05, 2015, 08:12:40 AM

Quote from: Kaneki on October 05, 2015, 07:06:42 AM

10 to 20 BTC been good to be a long-term investment 20 years

10BTC is around ~2400 USD which normally in U.S you can earn within a month (maybe more or maybe less)
But if you think to retier with just a couple of thousands of dollars then i think that you are completely wrong.
I think maybe 10kBTC would be enough to retire but that cost a fortune (millions of dollars)

Wow you really have done the math right?!
So in your opinion Bitcoin's price will be stagnant for the next 20 years?! If that is your prediction then buying 10k BTC makes no sense neither if price(value) won't rise.

VirosaGITS

legendary

Activity: 1302

Merit: 1068

Quote from: STT on October 05, 2015, 11:11:32 AM

If the dream were anywhere near real that BTC will accumulate usage over 20 years and with only 21 million vs billions of people, the answer is plainly 1 BTC would be fine for retirement. As always currency is not the answer but your own productivity and ability to buy working assets to reduce costs like a house then in retirement you have very low costs to meet

You think so? How much do you think BTC would be worth in 20 years? Because for 1 BTC to be enough, it would have to be worth what, 500k-1.5m to live with a full wage for the rest of your life? And at that value, the market cap of BTC would have to be 20 Trillions dollars, or worth more than any one country in the world.

Such a revolution could be possible if BTC took over the global economic scene, all currency exchanges, everything. I just don't see it happening... without the world as we know it end.

STT

legendary

Activity: 4088

Merit: 1452

If the dream were anywhere near real that BTC will accumulate usage over 20 years and with only 21 million vs billions of people, the answer is plainly 1 BTC would be fine for retirement. As always currency is not the answer but your own productivity and ability to buy working assets to reduce costs like a house then in retirement you have very low costs to meet

Mickeyb

hero member

Activity: 798

Merit: 1000

Move On !!!!!!

Quote from: smith coins on October 05, 2015, 08:12:40 AM

Quote from: Kaneki on October 05, 2015, 07:06:42 AM

10 to 20 BTC been good to be a long-term investment 20 years

10BTC is around ~2400 USD which normally in U.S you can earn within a month (maybe more or maybe less)
But if you think to retier with just a couple of thousands of dollars then i think that you are completely wrong.
I think maybe 10kBTC would be enough to retire but that cost a fortune (millions of dollars)

So you think that price of 1 BTC will be $240 in 20 years? Interesting!

smith coins

hero member

Activity: 504

Merit: 500

Quote from: Kaneki on October 05, 2015, 07:06:42 AM

10 to 20 BTC been good to be a long-term investment 20 years

10BTC is around ~2400 USD which normally in U.S you can earn within a month (maybe more or maybe less)
But if you think to retier with just a couple of thousands of dollars then i think that you are completely wrong.
I think maybe 10kBTC would be enough to retire but that cost a fortune (millions of dollars)

Kaneki

sr. member

Activity: 252

Merit: 250

10 to 20 BTC been good to be a long-term investment 20 years

Mickeyb

hero member

Activity: 798

Merit: 1000

Move On !!!!!!

Quote from: azguard on October 05, 2015, 03:37:34 AM

round number like 100 or 1000
think this will be enough

Well there is quite a difference between 100 and 1,000. And if you were looking for a round number, you could have added 10,000 as well!

No but seriously, if this thing is really, really to take off, I think that even 10 coins will be plenty to make you rich.

Amph

legendary

Activity: 3248

Merit: 1070

Quote from: azguard on October 05, 2015, 03:37:34 AM

round number like 100 or 1000
think this will be enough

i doubt he can afford to buy 1k bitcoin, otherwise he mean that he is already half rich, and he can probably retire right now

also he is supposing that the price will increase enormously in the future, so he is aiming at a reasonable amount

roadbits

legendary

Activity: 1092

Merit: 1000

Quote from: richardsNY on October 03, 2015, 09:51:13 AM

Quote from: bitgolden on October 03, 2015, 06:19:32 AM

Just 10 bitcoins are enough for your retirement if you are going to retire only after 20 years.
Even only one bitcoin is more than enough after 20 years. But by considering 2036 commodity prices, you may need 10 Bitcoins to lead your rest of life happier.

10 Bitcoins simply aren't enough. By the time the prices reaches new ATH's it may last you a year.

It depends on which country one is staying and also depends on people life style. In my country 10 bitcoins is not even sufficient for couple months based on current price. I really do not know about after 20 years what will happen to bitcoins whether it will be still there or some other better things will come.

smith coins

hero member

Activity: 504

Merit: 500

Quote from: VirosaGITS on October 02, 2015, 04:07:24 PM

Quote from: BitmoreCoin on October 02, 2015, 04:05:06 PM

Quote from: smith coins on September 28, 2015, 01:59:12 PM

Since the bitcoin future is unknown there is no guarantee that you can be retired even if you have 1 million bitcoins.
The price can be higher or lower, nobody knows, maybe bitcoin will not exist after 20 years, or maybe the whole internet will be shut down. I think that you should work hard outside and hope to be retired in 20 years which is not often possible.

That is the right attitude.

If i had 1 million Bitcoins, i would of already retired. Tongue

And unless the world explode, its not possible for "internet to be shutdown". But the message is still relevant, there is no way to know if BTC will lift off and cause the Crypto revolution. Billgates says its not going to be BTC. I think it could be if it get improved properly. The sidechain and such would help.

Maybe it will be another coin, we'll see. Just don't put all your eggs in one basket.

That is possible and know you just have the right money which is 240,000,000 USD lol.
If you came back when the price of bitcoin was less than 1$ then you had to spend only 1M.
Who would not be retired with all these money lol, you could pump and dump the bitcoin price easily.

azguard

legendary

Activity: 1484

Merit: 1001

Crypto-News.net: News from Crypto World

round number like 100 or 1000
think this will be enough

Lazada

sr. member

Activity: 686

Merit: 250

Quote from: flock123 on October 03, 2015, 10:54:21 AM

I need as much
at least 10 BTC, I believe at that time bitcoin prices already exceed $ 500 so that I could be a millionaire Grin

10 BTC will only generate 5000USD. while in the next year all the needs will increase the price. you can ever imagine.

oblivi

hero member

Activity: 700

Merit: 501

Quote from: pereira4 on October 03, 2015, 10:00:06 AM

Quote from: VirosaGITS on October 03, 2015, 06:25:25 AM

Quote from: bitgolden on October 03, 2015, 06:19:32 AM

Just 10 bitcoins are enough for your retirement if you are going to retire only after 20 years.
Even only one bitcoin is more than enough after 20 years. But by considering 2036 commodity prices, you may need 10 Bitcoins to lead your rest of life happier.

Why would it be enough? How would you know that BTC will be worth many, many thousands USD per?

Nobody knows where BTC will be in one year, why would it be possible to know what it will be worth in 20? Bitcoin will bring about a revolution but that doesn't mean that Bitcoin won't itself die in the progress. No revolution without its toll in blood. Remember?

Well this is more of an speculation thread than economics, so we can speculate, and I think he is right. But my ideal luck number is 21, because of the fact there are 21 million coins, so you are a "millionthaire" and wealthier in BTC than 99.99% of people in the world.

I agree. Bing part of the 21 million people grup is special, and it's even less than 21 because lots of coins are lost forever. So let's do the math:

1 - (1,000,000/7,000,000,000)

1,000,000 = number of people who can possibly own as many BTC as you. 7,000,000,000 = Global population

If Bitcoin is a big success and it will be, owning 21 Bitcoin MUST put you in a very privileged position in the possible, period, there are no ifs, it's just physics.

flock123

member

Activity: 98

Merit: 10

I need as much
at least 10 BTC, I believe at that time bitcoin prices already exceed $ 500 so that I could be a millionaire Grin

pereira4

legendary

Activity: 1610

Merit: 1183

Quote from: VirosaGITS on October 03, 2015, 06:25:25 AM

Quote from: bitgolden on October 03, 2015, 06:19:32 AM

Just 10 bitcoins are enough for your retirement if you are going to retire only after 20 years.
Even only one bitcoin is more than enough after 20 years. But by considering 2036 commodity prices, you may need 10 Bitcoins to lead your rest of life happier.

Why would it be enough? How would you know that BTC will be worth many, many thousands USD per?

Nobody knows where BTC will be in one year, why would it be possible to know what it will be worth in 20? Bitcoin will bring about a revolution but that doesn't mean that Bitcoin won't itself die in the progress. No revolution without its toll in blood. Remember?

Well this is more of an speculation thread than economics, so we can speculate, and I think he is right. But my ideal luck number is 21, because of the fact there are 21 million coins, so you are a "millionthaire" and wealthier in BTC than 99.99% of people in the world.

richardsNY

legendary

Activity: 1232

Merit: 1091

Quote from: bitgolden on October 03, 2015, 06:19:32 AM

Just 10 bitcoins are enough for your retirement if you are going to retire only after 20 years.
Even only one bitcoin is more than enough after 20 years. But by considering 2036 commodity prices, you may need 10 Bitcoins to lead your rest of life happier.

10 Bitcoins simply aren't enough. By the time the prices reaches new ATH's it may last you a year.

Lazada

sr. member

Activity: 686

Merit: 250

it is a big mistake if you use all of your retirement fund. You can not predict whether bitcoin will have a great future in 2035. maybe if most of it will be more objective.

randy8777

legendary

Activity: 896

Merit: 1000

it depends on where you live, but i would say at least 100-200 bitcoins if you want to see it last at least 10-15 years. that's when you assume the coins get stored in a secure manner.

VirosaGITS

legendary

Activity: 1302

Merit: 1068

Quote from: Denker on October 03, 2015, 06:48:27 AM

Quote from: VirosaGITS on October 03, 2015, 06:25:25 AM

Quote from: bitgolden on October 03, 2015, 06:19:32 AM

Just 10 bitcoins are enough for your retirement if you are going to retire only after 20 years.
Even only one bitcoin is more than enough after 20 years. But by considering 2036 commodity prices, you may need 10 Bitcoins to lead your rest of life happier.

Why would it be enough? How would you know that BTC will be worth many, many thousands USD per?

Nobody knows where BTC will be in one year, why would it be possible to know what it will be worth in 20? Bitcoin will bring about a revolution but that doesn't mean that Bitcoin won't itself die in the progress. No revolution without its toll in blood. Remember?

So why you are so sure about it?
It is always a possible future and not a guaranteed. However looking back in the days of early internet and a few of it's first apps I see that Amazon and ebay still exist today.
So bitcoin the commodity and currency for instance as the first application of a decentralized blockchain doesn't have to die.
The possibilities of being a future success with high value weighout the possibility of becoming a failure.

It can be a success. But i think the mathematics behind what was just said was missed by most people. For a single bitcoin to be worth that much, the Bitcoin market cap would have to be in the 2-3 trillions digits.

For this to happen, we'd need a world wide take over of Bitcoin overnight. Which is simply very unlikely.

For this to happen, you'd need to effectively redo the global economy built around Bitcoin. In only 20 years... not very likely.

I don't think that the people who did the previous comments did the math of a BTC at 100kUSD+ per as they suggest.

Denker

legendary

Activity: 1442

Merit: 1016

Quote from: VirosaGITS on October 03, 2015, 06:25:25 AM

Quote from: bitgolden on October 03, 2015, 06:19:32 AM

Just 10 bitcoins are enough for your retirement if you are going to retire only after 20 years.
Even only one bitcoin is more than enough after 20 years. But by considering 2036 commodity prices, you may need 10 Bitcoins to lead your rest of life happier.

Why would it be enough? How would you know that BTC will be worth many, many thousands USD per?

Nobody knows where BTC will be in one year, why would it be possible to know what it will be worth in 20? Bitcoin will bring about a revolution but that doesn't mean that Bitcoin won't itself die in the progress. No revolution without its toll in blood. Remember?

So why you are so sure about it?
It is always a possible future and not a guaranteed. However looking back in the days of early internet and a few of it's first apps I see that Amazon and ebay still exist today.
So bitcoin the commodity and currency for instance as the first application of a decentralized blockchain doesn't have to die.
The possibilities of being a future success with high value weighout the possibility of becoming a failure.

Topic: How many bitcoins do I need to retire in 20 years? - page 127. (Read 320352 times)