How many bitcoins do I need to retire in 20 years? - page 151.

Erdogan

legendary

Activity: 1512

Merit: 1005

Quote from: dinofelis on March 18, 2015, 09:25:55 AM

Quote from: BillyBobZorton on March 18, 2015, 08:54:44 AM

It's easier than that. If Bitcoin becomes mainstream, maybe not 1, but 10 should be enough to retire safely. Why you ask? well simple, mainstream = number of adoption will require that the price is a lot higher than what we've seen thus far. It's maths. If BTC surpasses current electronic payment methods, it would be worth more than 100K if you compare the marketcaps.

Will be hard to do with at most 7 transactions per second

VISA alone does about 1000 times more...

Et tu, dinofelis.

Bitcoin is not a payment system.

dinofelis

hero member

Activity: 770

Merit: 629

Quote from: BillyBobZorton on March 18, 2015, 08:54:44 AM

It's easier than that. If Bitcoin becomes mainstream, maybe not 1, but 10 should be enough to retire safely. Why you ask? well simple, mainstream = number of adoption will require that the price is a lot higher than what we've seen thus far. It's maths. If BTC surpasses current electronic payment methods, it would be worth more than 100K if you compare the marketcaps.

Will be hard to do with at most 7 transactions per second

VISA alone does about 1000 times more...

BitmoreCoin

sr. member

Activity: 406

Merit: 250

Quote from: btc.to.moon on March 17, 2015, 11:52:44 PM

If btc=$1m then I need only 1 BTC to retire

You mean today's $1m.

BillyBobZorton

legendary

Activity: 1204

Merit: 1028

Quote from: sgk on March 15, 2015, 02:20:20 PM

Quote from: jeffhuys on March 15, 2015, 12:35:50 PM

I see a lot of people saying "just one", why are you so sure? It's just been a few years since bitcoin began, anything could happen at anytime. It could be worth $0.10 tomorrow, no-one knows! Lips sealed

Exactly.

The OP's question if fundamentally flawed. It assumes that the price variation in Bitcoin is predictable. (It also assumes the price can only go UP, which is even worse assumption).
No one knows what Bitcoin will mean after 20 years, so we should stop answering the question like we're holding a crystal ball in our hands. Anything can happen.

KEEP CALM

AND

KEEP WORKING HARD FOR A BETTER LIVING

It's easier than that. If Bitcoin becomes mainstream, maybe not 1, but 10 should be enough to retire safely. Why you ask? well simple, mainstream = number of adoption will require that the price is a lot higher than what we've seen thus far. It's maths. If BTC surpasses current electronic payment methods, it would be worth more than 100K if you compare the marketcaps.

btc.to.moon

newbie

Activity: 7

Merit: 0

If btc=$1m then I need only 1 BTC to retire

asuryan180

hero member

Activity: 868

Merit: 1000

Quote from: TriggerX on March 15, 2015, 01:11:34 AM

Tricky question as bitcoin fluctuates wildly and is unpredictable. I would say be safe and buy 10 Bitcoins

. If the price of one drops incredibly low, Buy 100-1000

I hope you are joking, you would say be safe and buy 10 bitcoins? Even if the price does not drop you will want to buy the 100-1000 i would go with at least the 1000 and hope they go to a high enough, price above inflation because what is the point in having 1000 bitcoins worth 20,000 dollars each but it costs 500 dollars for a loaf of bread!? It is far to far into the future lets hope that we still have bitcoin in 20years or something better or bitcoin evolved, who knows?

pereira4

legendary

Activity: 1610

Merit: 1183

Quote from: vrm86 on March 17, 2015, 12:10:10 PM

Quote from: BillyBobZorton on March 17, 2015, 11:12:45 AM

Well, the Winklevoss brothers are predicting that paradigm shift in 10 years apparently:

http://nypost.com/2015/03/17/winklevoss-twins-believe-bitcoin-will-wipe-out-cash-in-future/

Anyone who has such pile of BTC would say the same and spread that word among people Wink

Even if they have an agenda, is not that far fetched. If Bitcoin is the TCP/IP for money, 10 years would bring us to the first stages of mainstream adoption.

vrm86

hero member

Activity: 676

Merit: 500

Quote from: BillyBobZorton on March 17, 2015, 11:12:45 AM

Well, the Winklevoss brothers are predicting that paradigm shift in 10 years apparently:

http://nypost.com/2015/03/17/winklevoss-twins-believe-bitcoin-will-wipe-out-cash-in-future/

Anyone who has such pile of BTC would say the same and spread that word among people Wink

BillyBobZorton

legendary

Activity: 1204

Merit: 1028

Quote from: infofront on March 17, 2015, 10:42:35 AM

Every answer to the question just needs an "if" at the beginning.

If bitcoin becomes the new paradigm, one would probably be enough.

Well, the Winklevoss brothers are predicting that paradigm shift in 10 years apparently:

http://nypost.com/2015/03/17/winklevoss-twins-believe-bitcoin-will-wipe-out-cash-in-future/

Quote

AUSTIN, Texas — The Winklevoss twins predicted a “cashless society” by 2025 as they continued their push to popularize the troubled virtual currency bitcoin.

So there.

infofront

legendary

Activity: 2646

Merit: 2842

Shitcoin Minimalist

Every answer to the question just needs an "if" at the beginning.

If bitcoin becomes the new paradigm, one would probably be enough.

randy8777

legendary

Activity: 896

Merit: 1000

Quote from: TriggerX on March 15, 2015, 01:11:34 AM

Tricky question as bitcoin fluctuates wildly and is unpredictable. I would say be safe and buy 10 Bitcoins

. If the price of one drops incredibly low, Buy 100-1000

no one here knows what exactly will happen. at this moment the average bitcoiner can't afford to buy 20 or 30 coins as they have plenty of bills to pay and such. if you really would save some coins you should have done that when bitcoin was just worth a few bucks.

azguard

legendary

Activity: 1484

Merit: 1001

Crypto-News.net: News from Crypto World

Quote from: sgk on March 15, 2015, 02:20:20 PM

Quote from: jeffhuys on March 15, 2015, 12:35:50 PM

I see a lot of people saying "just one", why are you so sure? It's just been a few years since bitcoin began, anything could happen at anytime. It could be worth $0.10 tomorrow, no-one knows! Lips sealed

Exactly.

The OP's question if fundamentally flawed. It assumes that the price variation in Bitcoin is predictable. (It also assumes the price can only go UP, which is even worse assumption).
No one knows what Bitcoin will mean after 20 years, so we should stop answering the question like we're holding a crystal ball in our hands. Anything can happen.

KEEP CALM

AND

KEEP WORKING HARD FOR A BETTER LIVING

Your right.
You wont have anything if you dont work to make something for yourself.

For bitcoin no one knows what will it be in next five not in 20 years so keep it you never know what tomorrow will bring.

futureofbitcoin

sr. member

Activity: 322

Merit: 250

Obviously no one knows. That's why we answer with our predictions or hopes. It's much better than being a party pooper and not contributing something that's relevant to the question.

Perhaps even if bitcoins aren't worth that much in 20 years, we would be able to retire relatively cheaply because of abundance from technological innovation and automation. We may have stuff like vertical farms, producing enough food for everyone on Earth a few times over.

sgk

legendary

Activity: 1470

Merit: 1002

!! HODL !!

Quote from: jeffhuys on March 15, 2015, 12:35:50 PM

I see a lot of people saying "just one", why are you so sure? It's just been a few years since bitcoin began, anything could happen at anytime. It could be worth $0.10 tomorrow, no-one knows! Lips sealed

Exactly.

The OP's question if fundamentally flawed. It assumes that the price variation in Bitcoin is predictable. (It also assumes the price can only go UP, which is even worse assumption).
No one knows what Bitcoin will mean after 20 years, so we should stop answering the question like we're holding a crystal ball in our hands. Anything can happen.

KEEP CALM

AND

KEEP WORKING HARD FOR A BETTER LIVING

jeffhuys

sr. member

Activity: 252

Merit: 250

I see a lot of people saying "just one", why are you so sure? It's just been a few years since bitcoin began, anything could happen at anytime. It could be worth $0.10 tomorrow, no-one knows! Lips sealed

aso118

legendary

Activity: 1918

Merit: 1012

★Nitrogensports.eu★

Quote from: vrm86 on March 15, 2015, 02:10:00 AM

Quote from: picolo on March 14, 2015, 08:10:39 PM

Quote from: vrm86 on March 14, 2015, 12:34:31 PM

According to the latest posts, subject of the thread should be changed to:
"What is minimal BTC amount that could let me retire in 20 years and provide average, decent living standard?"

Seriously, it's not about telling someone: "Dude, get 50000 or better 75000 BTC" (btw. we should not talking from the perspective of current exchange prices).

Average, decent living standard where ?

Let's say, in one of the developed countries. Of course you can spend even 50000/day like mentioned, but that isn't the point.

So to make the question complete - How many bitcoins do I need to get $500,000 (for example) at today's prices in 20 years?
The place / standard of living can be incorporated in the amount.
$500,000 may be sufficient for one person; another might require $5 million.

vrm86

hero member

Activity: 676

Merit: 500

Quote from: picolo on March 14, 2015, 08:10:39 PM

Quote from: vrm86 on March 14, 2015, 12:34:31 PM

According to the latest posts, subject of the thread should be changed to:
"What is minimal BTC amount that could let me retire in 20 years and provide average, decent living standard?"

Seriously, it's not about telling someone: "Dude, get 50000 or better 75000 BTC" (btw. we should not talking from the perspective of current exchange prices).

Average, decent living standard where ?

Let's say, in one of the developed countries. Of course you can spend even 50000/day like mentioned, but that isn't the point.

TriggerX

hero member

Activity: 826

Merit: 1000

Tricky question as bitcoin fluctuates wildly and is unpredictable. I would say be safe and buy 10 Bitcoins

. If the price of one drops incredibly low, Buy 100-1000

picolo

hero member

Activity: 1022

Merit: 500

Quote from: vrm86 on March 14, 2015, 12:34:31 PM

According to the latest posts, subject of the thread should be changed to:
"What is minimal BTC amount that could let me retire in 20 years and provide average, decent living standard?"

Seriously, it's not about telling someone: "Dude, get 50000 or better 75000 BTC" (btw. we should not talking from the perspective of current exchange prices).

Average, decent living standard where ?

vrm86

hero member

Activity: 676

Merit: 500

According to the latest posts, subject of the thread should be changed to:
"What is minimal BTC amount that could let me retire in 20 years and provide average, decent living standard?"

Seriously, it's not about telling someone: "Dude, get 50000 or better 75000 BTC" (btw. we should not talking from the perspective of current exchange prices).

Topic: How many bitcoins do I need to retire in 20 years? - page 151. (Read 320352 times)