How many bitcoins do I need to retire in 20 years? - page 147.

M28MmickT

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Quote from: Sithara007 on April 15, 2015, 09:09:19 AM

Quote from: BIT-Sharon on April 15, 2015, 02:39:10 AM

Quote from: firstlast on April 29, 2014, 12:50:48 AM

but get 1000 bitcoins just to be safe

I think 1000 is so safe that you may earn more by this amount.

How have you to come to the conclusion of 1000 bitcoins. Can you please explain your calculation Tongue

I could help here it would be quite simple if we assume that we want/need between $500,000 to $1,000,000 for retirement in a cheaper country, then we need it to go to $1000 to have a million or obviously half we would have $500k. I don't think we would see them prices but i am mr negative so i would want a good 2-3k bitcoins for retirement which i am nowhere near lol

explorer17

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1 for you and 10 for girls

oblivi

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Quote from: Amph on April 15, 2015, 02:30:14 AM

Quote from: AtheistAKASaneBrain on April 14, 2015, 09:40:00 AM

Quote from: opossum on April 13, 2015, 11:46:22 PM

Quote from: techgeek on April 13, 2015, 11:28:06 PM

Bitcoin should be more reference to a gold valuation not a sense of a dollar.

Its why theres threads out there do the whole gold vs bitcoin thing. So this discussion is based around how do you value gold compared to the digital currency. Plus its not like there is a endless supply of it. Its a fixed amount, which also supports that value.

Bitcoin should be valued at the price of a bitcoin, so btc/btc then we can all stop getting excited over fake iou's value to it and actually understand the power of this tech. The dollar value is ruining it imo.

You will need anywhere from 10-1000 to be able to retire in a middle class country in 20 years of course assuming that bitcoin is still going and who knows what the future holds or what new tech is just around the corner, you may need more than the current supply Shocked

If you only value BTC with BTC, how do you estimate its purchasing power? you need some kind of reference.

dollar doesn't have any reference, but it workd until the super infaltion, bitcoin don't need a reference either, its value can be given with time, by spending and comparing the item you are purchasing

for example even without fiat, we know that a car is more expensive than a pc, you would say 1 at 10 is the ratio for those two things, so you spend 1 for pc and 10 btc for the car

We'll never live in a world without national fiat currencies anyway, in my opinion at least... or we will but we'll all be dead by then.
BTC during our lifetimes is going to be huge but will co exist with the nation currencies.

Sithara007

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Quote from: BIT-Sharon on April 15, 2015, 02:39:10 AM

Quote from: firstlast on April 29, 2014, 12:50:48 AM

but get 1000 bitcoins just to be safe

I think 1000 is so safe that you may earn more by this amount.

How have you to come to the conclusion of 1000 bitcoins. Can you please explain your calculation Tongue

Beymond

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Quote from: BIT-Sharon on April 15, 2015, 02:39:10 AM

Quote from: firstlast on April 29, 2014, 12:50:48 AM

but get 1000 bitcoins just to be safe

I think 1000 is so safe that you may earn more by this amount.

If i had 1000 bitcoins , i'd be so over myself that i will either loose it in gambling or get scammed . So i would rather cash most of it!! and just keep some small amount for my use , i can always buy more with the money i cashed it too though there's a chance that the price might be higher/lower but stil less risk Cheesy

BIT-Sharon

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Quote from: firstlast on April 29, 2014, 12:50:48 AM

but get 1000 bitcoins just to be safe

I think 1000 is so safe that you may earn more by this amount.

Amph

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Quote from: AtheistAKASaneBrain on April 14, 2015, 09:40:00 AM

Quote from: opossum on April 13, 2015, 11:46:22 PM

Quote from: techgeek on April 13, 2015, 11:28:06 PM

Bitcoin should be more reference to a gold valuation not a sense of a dollar.

Its why theres threads out there do the whole gold vs bitcoin thing. So this discussion is based around how do you value gold compared to the digital currency. Plus its not like there is a endless supply of it. Its a fixed amount, which also supports that value.

Bitcoin should be valued at the price of a bitcoin, so btc/btc then we can all stop getting excited over fake iou's value to it and actually understand the power of this tech. The dollar value is ruining it imo.

You will need anywhere from 10-1000 to be able to retire in a middle class country in 20 years of course assuming that bitcoin is still going and who knows what the future holds or what new tech is just around the corner, you may need more than the current supply Shocked

If you only value BTC with BTC, how do you estimate its purchasing power? you need some kind of reference.

dollar doesn't have any reference, but it workd until the super infaltion, bitcoin don't need a reference either, its value can be given with time, by spending and comparing the item you are purchasing

for example even without fiat, we know that a car is more expensive than a pc, you would say 1 at 10 is the ratio for those two things, so you spend 1 for pc and 10 btc for the car

rikfredsy

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I will say anyone to buy bitcoin now , this is a great time to invest price 217 at least a week and we will return 250 and you have
made a lot of profit Cheesy

, investing bitcoin will never make you looser if you are have patience .

Rmcdermott927

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Quote from: JayCoDon on April 14, 2015, 09:45:01 AM

You don't need a price reference if you're buying your goods in BTC, the supplier is buying their goods in BTC, etc, etc, etc. Unfortunately, that's not reality, so you're right, you need a value in USD. Wink

I am investing in stocks for my retirement because they are income generating and I can comfortably predict an average 8-10% increase year over year over the next 40 years. Yes, there will be some down years, but if over the long haul, it'll balance out. Besides ... There was the Great Depression in the 1930s and the Great Recession in the 2000s. That's a 70-80 year difference, so maybe I'll miss the next one entirely and be dead. :p

Most retirement funds are diverse. Don't put all of your eggs in one basket. But btc, stocks, gold, etc.

JayCoDon

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You don't need a price reference if you're buying your goods in BTC, the supplier is buying their goods in BTC, etc, etc, etc. Unfortunately, that's not reality, so you're right, you need a value in USD. Wink

I am investing in stocks for my retirement because they are income generating and I can comfortably predict an average 8-10% increase year over year over the next 40 years. Yes, there will be some down years, but if over the long haul, it'll balance out. Besides ... There was the Great Depression in the 1930s and the Great Recession in the 2000s. That's a 70-80 year difference, so maybe I'll miss the next one entirely and be dead. :p

AtheistAKASaneBrain

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Quote from: opossum on April 13, 2015, 11:46:22 PM

Quote from: techgeek on April 13, 2015, 11:28:06 PM

Bitcoin should be more reference to a gold valuation not a sense of a dollar.

Its why theres threads out there do the whole gold vs bitcoin thing. So this discussion is based around how do you value gold compared to the digital currency. Plus its not like there is a endless supply of it. Its a fixed amount, which also supports that value.

Bitcoin should be valued at the price of a bitcoin, so btc/btc then we can all stop getting excited over fake iou's value to it and actually understand the power of this tech. The dollar value is ruining it imo.

You will need anywhere from 10-1000 to be able to retire in a middle class country in 20 years of course assuming that bitcoin is still going and who knows what the future holds or what new tech is just around the corner, you may need more than the current supply Shocked

If you only value BTC with BTC, how do you estimate its purchasing power? you need some kind of reference.

bitbunnny

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Have you maybe earned some BTV while waiting to get answers how many BTC do you need for retirement? Wink

Sithara007

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Quote from: sgk on April 14, 2015, 12:02:42 AM

OP's answer would depend on 2 major factors:
- How much fiat does he need to retire and live comfortable life in your country?
- What is YOUR belief of Bitcoin's future and price speculation?

For example:
If you need $200,000 to retire and if you think Bitcoin can at least go up to $10,000 in next five years.
Then I need to buy 20 Bitcoins (20 x $10,000 = $200,000)

So there is no specific answer to the 2nd part of the equation. Your retirement fund is a static amount, but BTC price is a dynamic one. Go figure!

Yes totally true. In my opinion, one can not rely on a highly volatile source of investment for his/her retirement or any any other needful funds. The fluctuations in the prices is very sharp and dynamic. And no one can predict of future of Bitcoin after 20 years.

sgk

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OP's answer would depend on 2 major factors:
- How much fiat does he need to retire and live comfortable life in your country?
- What is YOUR belief of Bitcoin's future and price speculation?

For example:
If you need $200,000 to retire and if you think Bitcoin can at least go up to $10,000 in next five years.
Then I need to buy 20 Bitcoins (20 x $10,000 = $200,000)

So there is no specific answer to the 2nd part of the equation. Your retirement fund is a static amount, but BTC price is a dynamic one. Go figure!

opossum

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Quote from: techgeek on April 13, 2015, 11:28:06 PM

Bitcoin should be more reference to a gold valuation not a sense of a dollar.

Its why theres threads out there do the whole gold vs bitcoin thing. So this discussion is based around how do you value gold compared to the digital currency. Plus its not like there is a endless supply of it. Its a fixed amount, which also supports that value.

Bitcoin should be valued at the price of a bitcoin, so btc/btc then we can all stop getting excited over fake iou's value to it and actually understand the power of this tech. The dollar value is ruining it imo.

You will need anywhere from 10-1000 to be able to retire in a middle class country in 20 years of course assuming that bitcoin is still going and who knows what the future holds or what new tech is just around the corner, you may need more than the current supply Shocked

techgeek

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Bitcoin should be more reference to a gold valuation not a sense of a dollar.

Its why theres threads out there do the whole gold vs bitcoin thing. So this discussion is based around how do you value gold compared to the digital currency. Plus its not like there is a endless supply of it. Its a fixed amount, which also supports that value.

micky123

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Quote from: Natalia_AnatolioPAMM on April 13, 2015, 05:05:39 PM

Quote from: farting_shot on April 13, 2015, 03:04:37 PM

0.01 USD is realistic in 10 years

10x0.01=0.1 USD

Not enough, but prices that we are not able to logically imagine (it was NOT logical to think 0.01 per BTC would ever happen) CAN happen, so you should not retire on bitcoins.

I FIXED IT FOR YOU!!!

fully agreed!

Lets not be agents of gloom and doom! Grin

Sure, BTC is going through a bear phase atm and things seem all gloomy, but we need to keep up our optimism and hope that things change for the better. My time to look out for a major uptick would be the next halving of block reward. I will be holding my small stash of btc at least until the next block reward halving and will re-evaluate my position at that point. We have to remain optimistic until then.

Natalia_AnatolioPAMM

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Quote from: farting_shot on April 13, 2015, 03:04:37 PM

0.01 USD is realistic in 10 years

10x0.01=0.1 USD

Not enough, but prices that we are not able to logically imagine (it was NOT logical to think 0.01 per BTC would ever happen) CAN happen, so you should not retire on bitcoins.

I FIXED IT FOR YOU!!!

fully agreed!

farting_shot

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0.01 USD is realistic in 10 years

10x0.01=0.1 USD

Not enough, but prices that we are not able to logically imagine (it was NOT logical to think 0.01 per BTC would ever happen) CAN happen, so you should not retire on bitcoins.

I FIXED IT FOR YOU!!!

shanecoins

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Quote from: TPN on April 13, 2015, 10:26:36 AM

Quote from: AtheistAKASaneBrain on April 13, 2015, 09:20:24 AM

Quote from: TPN on April 13, 2015, 06:52:40 AM

I'm pretty sure you could retire with 10 bitcoins

10K USD is realistic in 10 years

10x10=100K USD

Not enough, but prices that we are not able to logically imagine (it was NOT logical to think 1K per BTC would ever happen back then) CAN happen, so you could retire.

Who knows what the price of USD will be in 10 years Wink

er $1 perhaps

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