Topic: How many bitcoins do I need to retire in 20 years? - page 159. (Read 320352 times)

Bro nobody can be sure. Bitcoin can be worth 100k $ or 0$. This is lottery.

you are very sure it's going to happen?

If you invest 10 bitcoins now you will be counted from millionairies in 2035

I very much doubt it´ll be worthless, it´s too entrenched now for that to occur. And IMO it´s unlikely to tank much from here. If it gets stuck considerably below 200 for weeks or months then mining becomes a dubious proposition and I don´t think the market for bitcoin will allow that to happen. As we see they´re still adding hash at a wild rate, last diff. increase was 7.7% and it looks like the next one will be at a similar order. So, it looks like the mining industry isn´t going anywhere. And if they´re going to keep adding hash in the face of a falling price of product they must decrease their dumping of product. Market sense: There will be strong support above 200 for the time being. But of course always bear in mind that this is a volatile and fast moving wild west marketplace. Anything can happen. Who knows; maybe some serious buying volume will come in. A float this tiny will move very very fast on significant money.

Nobody can ever answer this because nobody knows. Maybe it's 1 bitcoin maybe it's 1000 maybe its 10,000 but you'll just have to wait and see. All depends on the level of adoption.

They will put up one helluva fight.
They will throw millions of dollars of negative media influence with the sole intention to discredit crypto.

I guess to answer the OP question, one has to ask themselves, what is my definition of retirement?
There is a huge difference to retiring in California as opposed to Montana

Not by the end of this year... 20/20, maybe. We need mass ass adoption tho, we need to defeat VISA and friends.

i don't think so, i believe more you have large amounts of money
the level of your life will increase (more needs that you want)
and perhaps it would be the same if we only have a little money with different levels
it depends on yourself not on how much you should have .IMO

I do like this thread, because it allows us to look back in the future and see all these 'ridiculous' predictions (that's how they will probably appear in retrospect). Moreover I think it i impossible to predict the value of Bitcoin in 20 years. If Bitcoin succeeded it will be very high, since a lot of people will use it as a store of value (these coins won't be traded) and the small percentage that is traded has to be divided over millions of hands.

2020 is a more interesting timespan at the moment. From 1995 to 2000, the internet captured from 0.4 to 5% of the world population as users. We all agree that Bitcoin will be able to do this quicker, since it is actually something that is built on top of the internet. So let's say 10% of the world population will use Bitcoin by 2020. That is already 700 million people. This could be done if the userbase tripples more or less every year. Not completely unrealistic.

In between this timespan there are two blockhalvings. At the end of 2020, only 6.25BTC per block will be rewarded. This means that also less 'freshly mined' coins will enter the market. Most of the supply will come from long-term holders or traders.

Last but not least you should ask yourself, will there be much incentive in 5 years to exchange your Bitcoin for fiat currency. If you can just use your Bitcoin almost everywhere and it gives certain advantages such as lower fees, less risks and so on, why the hell would you sell your Bitcoin in that case? In the end, merchant adoption and Bitcoin integration in complete business infrastructures will take away some of the pressure to sell your Bitcoin, which is positive for the exchange rate with fiat.

Imagine if you could pay everywhere with (digital) gold. Would you still change it for fiat?

To make a long story short, I am pretty bullish on the long term. The two halvings, the merchant adoption and Bitcoin integration in business as well as the growing user base will have a positive effect on the exchange rate. Exchange rate around 2020 can therefore easily be between 10.000 and 50.000.

If you would say that you need in most Western countries 30 year salaries to start living on one's private means, one million USD would be a nice goal. With the minimum of 10.000 by 2020, you would thus need 100 coins. Chances are that 50, 30 or even 20 coins will suffice however. And if you decide to retire in Indonesia or Thailand, you could probably live with much less, say 5 to 10 Bitcoin. So anything from 5 up to 100 Bitcoin gives you a reasonable chance in my eyes to reach your goal.

Frankly, the question doesn't make any sense. Because there is no guarantee of Bitcoin's price down the line.

If you were to assume a figure for BTC price 20 yrs in future and if you would know how much fiat you need to retire, it is simple math.
But no one knows BTC's future price, so you can make your own assumptions and make your purchase.

Lock this thread and get back to work.

Wow, that's really true without we should all consider ourselfs rich of knowledge , in a few years when bitcoin is mainstream we'll tell ehm we're the wizards

 
I just realized that I gained so much knowledge and skills since I'm in Bitcoin that I can consider myself already rich.
Don't you feel the same ?

Well hopefully by the end of this year 65 btc will be enough?

The old saying goes ..it does not matter WHAT you paid of OVERPAID via miners etc to get your bitcoin..it is WHEN you got your bitcoin
and how much..so if you mined like me and over paid and got burnt and probably should have 100 btc at the end of this year rather then
65 BTC ..IF btc comes to a modest useable success .....and such... those  65 btc of coin EVENTUALLY will be the ticket.....sure in hindsight i over paid or
got burnt equipment or perhaps should not have been as heavily invested in miners.......but it is the fact that I DID dig this amount of coin between say
2013 and 2015 around 65 BTC ....which is 'hopefully' ......gonna be A REALLY REALLY BIG DEAL in say 2020 if price say hit 1k or above (crosses fingers)

the main thing is you got the stash ....now as to the rest.....cross fingers...better then if i was TOO on the ball and did not risk
anything between 2013 and 2015 even if i over paid for some of the equipment in hindsight...(as dumb as some of this stuff turned out to be ...BFL bah......)

so go baby go 10k coin would be nice in 20/20 to say the least (knowing me will prob whine about not getting over 100 coin as
I could make that case with better planning I could have......from past mistakes etc..but then again ..don't think if the above pans out it will really be a problem

(god at even 1k coin I will be such an ass!)

good to have goals

i am one of the guy that are certain about this and i think there is no solid proof about this
we can be reach someday by holding bitcoins or bitcoin could be worthless by x years

The persistent problem for the past year is microscopic trading volume and no buying interest to speak of. Unless that reverses for some reason the price will continue plummeting. Obviously. So, it´s the classic question of waiting for the bottom and not be trying to catch a falling knife.

just buy 2 bitcoins and hope for the best : > worst case scenario , you lose a expensive hamburger , just make sure you put the coins somewhere safe on a paperwallet then put the paper wallet deep into your madress or something , then hide it under your couch and then hide your couch below dirt , then hide the dirt below sand.

It could be a kind of lottery. If it pays off, you have a lavish retirement lifestyle.
If not, you still should be able to manage.

she voted for it

tyrone voted for it

pablo voted for it

Once women got the vote, everything went to shit.

The average Joe will never have any retirement and will die working like a slave (he deserves it, he voted for that system).
The Bitcoiner can afford to invest 7K per year because he knows there is no better plan even if it could go down to zero.

i currently dont see any future in bitcoin!because the price is just going down,there arent even any news that it might go up
when it hitted 170$ i was shocked

but im still hoping it will raise like in novemeber 2013!!!