How many bitcoins do I need to retire in 20 years? - page 162.

nickenburg

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Quote from: okthen on June 03, 2014, 12:00:01 PM

Of course it depends on at what age you'd be retiring.
Say you'd be 50 and hoping to live another 30 years. 100.000 would make for a very comfortable living (with no boats tho), so 100.000x30=3.000.000$

In many places of this forum bitcoin's target value was set at 300.000$, so you should be fine with 10btc.

However, I'd try to buy more and spend them along the way, it's better to enjoy the ride and you never know the future, maybe btc will do fine for a long time, maybe it won't...

100000 is probably enough if you have no house yet, but if you still need to buy a house.
You probably need to make alot more then 100k, or do you mean 100k per year to spend?
I would that's a little much but really nice to live with, but you should also think about your family.
Do you want them to work a shitty job, or maybe you can get them some riches to.

okthen

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Of course it depends on at what age you'd be retiring.
Say you'd be 50 and hoping to live another 30 years. 100.000 would make for a very comfortable living (with no boats tho), so 100.000x30=3.000.000$

In many places of this forum bitcoin's target value was set at 300.000$, so you should be fine with 10btc.

However, I'd try to buy more and spend them along the way, it's better to enjoy the ride and you never know the future, maybe btc will do fine for a long time, maybe it won't...

stryker0695

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Take your current expenses and reduce them by 40%. Figure out the age that you would retire regardless of whether or not bit coin continues to succeed, find the most conservative 20 year forecast you can find for the value of the coins and divide by 5000%. I think you can see where to go from here? Find the amount of monthly income you need (with a 40% reduction from what you would need now in a restful period of time.) and calculate it on a lower than your most conservative calculation basis. Don't include BTC speculation in any insurance or medical expenses you plan for. Don't include it in any major milestone vacations you plan to take. The Bitcoin aspect of your investment portfolio is a lot like playing casino dice games to pad your retirement. It's entirely subject to failure as is any currency, however currently lacks the simplicity of a universally accepted fiat currency, unfortunately. Planning for the most conservative scenario possible will give you a realistic perspective for your future.

BitchicksHusband

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Quote from: Swordsoffreedom on June 02, 2014, 06:28:50 PM

Quote from: Taras on June 02, 2014, 06:23:52 PM

Quote from: Swordsoffreedom on June 02, 2014, 06:15:48 PM

Quote from: CoinDiver on June 02, 2014, 11:56:15 AM

Quote from: efreeti on June 02, 2014, 10:52:48 AM

If we do extrapolation using data from 2009 till now, you only need less than 1 bitcoin to become extremely wealthy in 20 years.

So buy 10.

That sounds about right a penny saved is a penny earned so
A bitcoin saved could be a fortune later
That or try an altcoin lol

Then again a penny saved is $0.0094 earned after adjusting for inflation.

Touche Taras
I should clarify that a Penny Saved in a non inflationary society is a penny earned
In Bitcoin this occurs in 2140
But fine tries another quote
It's just like the magic penny hold it tight and you won't have any
Lend it spend it and you'll have so many they will roll all over the floor

In bitcoin, a penny saved is $500 earned...

Swordsoffreedom

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Quote from: Taras on June 02, 2014, 06:23:52 PM

Quote from: Swordsoffreedom on June 02, 2014, 06:15:48 PM

Quote from: CoinDiver on June 02, 2014, 11:56:15 AM

Quote from: efreeti on June 02, 2014, 10:52:48 AM

If we do extrapolation using data from 2009 till now, you only need less than 1 bitcoin to become extremely wealthy in 20 years.

So buy 10.

That sounds about right a penny saved is a penny earned so
A bitcoin saved could be a fortune later
That or try an altcoin lol

Then again a penny saved is $0.0094 earned after adjusting for inflation.

Touche Taras
I should clarify that a Penny Saved in a non inflationary society is a penny earned
In Bitcoin this occurs in 2140
But fine tries another quote
It's just like the magic penny hold it tight and you won't have any
Lend it spend it and you'll have so many they will roll all over the floor

Taras

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Please do not PM me loan requests!

Quote from: Swordsoffreedom on June 02, 2014, 06:15:48 PM

Quote from: CoinDiver on June 02, 2014, 11:56:15 AM

Quote from: efreeti on June 02, 2014, 10:52:48 AM

If we do extrapolation using data from 2009 till now, you only need less than 1 bitcoin to become extremely wealthy in 20 years.

So buy 10.

That sounds about right a penny saved is a penny earned so
A bitcoin saved could be a fortune later
That or try an altcoin lol

Then again a penny saved is $0.0094 earned after adjusting for inflation.

Swordsoffreedom

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Activity: 2884

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Leading Crypto Sports Betting & Casino Platform

Quote from: CoinDiver on June 02, 2014, 11:56:15 AM

Quote from: efreeti on June 02, 2014, 10:52:48 AM

If we do extrapolation using data from 2009 till now, you only need less than 1 bitcoin to become extremely wealthy in 20 years.

So buy 10.

That sounds about right a penny saved is a penny earned so
A bitcoin saved could be a fortune later
That or try an altcoin lol

CoinDiver

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Activity: 778

Merit: 1002

Quote from: efreeti on June 02, 2014, 10:52:48 AM

If we do extrapolation using data from 2009 till now, you only need less than 1 bitcoin to become extremely wealthy in 20 years.

So buy 10.

efreeti

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If we do extrapolation using data from 2009 till now, you only need less than 1 bitcoin to become extremely wealthy in 20 years.

CoinDiver

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Quote from: nickenburg on June 02, 2014, 10:36:45 AM

I am defenitly hoping for this outcome: Bitcoin success & OP invested: Retire fat and happy
But there is still a long way to go for that, if we take the pizza example bitcoin was a great investment back then.
We still have to see if that still will be the case in the future again, its certainly a possibility.
And the way bitcoin was created, there will only be 21 million bitcoins so the price will certainly go up but with how much is the question.

If your are concerned about the growth of bitcoin stagnating... just remember, we're already halfway to the next halving. When bitcoin is not being subjected to bad press, it's a steady bull market. What happens when the supply is cut in half? Adoption is already outpacing inflation (as bitcoin is inflationary currently).

The smartest thing you could do is ignore the price of bitcoin. Store your value in bitcoin whenever you have a little extra. Ignore the price. It's hard to do, but guessing on a best time to buy has ALWAYS cost me money. I had hundreds to invest at $5 and didn't. I had thousands to invest at $120 and didn't. At $800 I started storing every extra dollar I had, and I'm sitting at about 115% right now.

nickenburg

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Quote from: CoinDiver on June 02, 2014, 09:56:53 AM

If the OP has 20 years before retiring... BitCoin is a great opportunity. From 10k for two pizzas to $600 each in 4 years. In 20 years, a single bitcoin will be more than the average American makes in a year.

Think of it like this... either bitcoin succeeds, or fails, and the OP will either invest or not. So there are four possible outcomes:

Bitcoin success & OP invested: Retire fat and happy
Bitcoin success & OP didn't invest: Nothing lost, but OP probably a little bitter
Bitcoin fails & OP invested: 20k lost
Bitcoin fails & OP didn't invested: OP probably won't even remember what bitcoin was in 20 years.

Worst possible outcome is a very small amount of money lost. Best possible outcome is rich as hell. Would you risk 20k to possibly retire in the top 1%? The real question is, what does bitcoins chance of success have to be to make you willing to risk $20,000 on the chance of being stupid rich? 100%? 10%? 1%?

I am defenitly hoping for this outcome: Bitcoin success & OP invested: Retire fat and happy
But there is still a long way to go for that, if we take the pizza example bitcoin was a great investment back then.
We still have to see if that still will be the case in the future again, its certainly a possibility.
And the way bitcoin was created, there will only be 21 million bitcoins so the price will certainly go up but with how much is the question.

CoinDiver

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If the OP has 20 years before retiring... BitCoin is a great opportunity. From 10k for two pizzas to $600 each in 4 years. In 20 years, a single bitcoin will be more than the average American makes in a year.

Think of it like this... either bitcoin succeeds, or fails, and the OP will either invest or not. So there are four possible outcomes:

Bitcoin success & OP invested: Retire fat and happy
Bitcoin success & OP didn't invest: Nothing lost, but OP probably a little bitter
Bitcoin fails & OP invested: 20k lost
Bitcoin fails & OP didn't invested: OP probably won't even remember what bitcoin was in 20 years.

Worst possible outcome is a very small amount of money lost. Best possible outcome is rich as hell. Would you risk 20k to possibly retire in the top 1%? The real question is, what does bitcoins chance of success have to be to make you willing to risk $20,000 on the chance of being stupid rich? 100%? 10%? 1%?

keithers

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Quote from: redwhitenblue on June 02, 2014, 12:04:39 AM

Quote from: Alley on April 28, 2014, 12:04:32 PM

Lets say I want to buy bitcoins today and store them for 20 years to use a my retirement fund. Live comfortably, but don't need to buy a yacht or anything. How many do you think I would need to buy?

0, this is a horrible investment for your retirement. BTC is a highly speculative investment. Much more speculative then what should be invested in a retirement fund.

If you wanted to use BTC to possibly retire on then you should use your BTC "investment" as more of a lottery ticket.

IMO BTC will be much more widely adopted in the medium term future and the price would increase in the medium term however this is far from guaranteed.

One major risk to BTC is that an altcoin will solve most/all of the problems associated with BTC causing the price of BTC to decrease and the price of this altcoin to increase/replace bitcoin.

You are looking at btc as it stand right now. In present day it would be a poor retirement vehicle, but as the adoption increases so will the stability. It is not far fetched to think that they could be used as an annuity in the distant future...

redwhitenblue

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Quote from: Alley on April 28, 2014, 12:04:32 PM

Lets say I want to buy bitcoins today and store them for 20 years to use a my retirement fund. Live comfortably, but don't need to buy a yacht or anything. How many do you think I would need to buy?

0, this is a horrible investment for your retirement. BTC is a highly speculative investment. Much more speculative then what should be invested in a retirement fund.

If you wanted to use BTC to possibly retire on then you should use your BTC "investment" as more of a lottery ticket.

IMO BTC will be much more widely adopted in the medium term future and the price would increase in the medium term however this is far from guaranteed.

One major risk to BTC is that an altcoin will solve most/all of the problems associated with BTC causing the price of BTC to decrease and the price of this altcoin to increase/replace bitcoin.

makebitcoin

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Don't bet that Bitcoins will be able to pay for your retirement. Although there is a great change the coin will rise and rise you never know and you don't want to have all your apples in one basket.

zimmah

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Quote from: kireinaha on May 06, 2014, 08:43:22 PM

Quote from: umair127 on May 06, 2014, 07:12:27 PM

Quote from: in_need_of_btc on May 06, 2014, 05:08:38 AM

I personally think btc will grow or multiply or whatever for next 10-30 years and then stop, because there's going to be too much people using them. Many people doesn't mean stability.

And also even now there are places which count btc in mBtc. As i see it in next few years 1 btc will be A LOT OF money, but we won't be counting it like that, we will count it in micro/nano btc.

Thinking of bitcoins as of easy-money is noncense in my opinion by the way or you will need many btc to be stabile and rich (gold for example).

We need people to buy with bitcoin, right now we have to many holders and to many traders in the bitcoin population, if we can get more people interesting using it as another currency then rather treating a product of greed then value can probably climb faster.

Face it: hardly anyone is buying bitcoins to spend them on overstock.com. This should be obvious, but... people buy them for a store of value! The whole point is to hold on to them. That constrains the supply and increases value. It is the self interest of all investors!

Bitcoin is primarily not a currency; and if all the current holders used them as such, value would plummet as millions of coins hit the exchanges as merchants moved to liquidate back into fiat. Since the whole point of this thread is about retiring on bitcoin profits, this would not be a positive development for the majority of bitcoin enthusiasts.

Bitcoin most likely will rise to $40,000 over the next few years, but it won't be due to merchant adoption. It will be because holders are getting rich and their friends, family, and coworkers all want a piece of the pie.

Actually it would be good for the bitcoin economy to purchase goods with bitcoin, as long as you buy any bitcoins you spent back immediatly.

That way your transaction would have the following effect:

1) The store you buy at gets a sale in bitcoin, making bitcoin more legit as a currency ---> This will make more stores accept bitcoin --> Grows the bitcoin economy because more interest and legitimacy
2) The store will sell the bitcoins for local currency (dollars/euros) immediatly --> creates a sell order, drops price a little bit.
3) You will buy the bitcoins back, this may or may not raise the price a little bit

Net result:

More volume
Larger bitcoin market
More people who will use bitcoin.
Neutral effect on bitcoin / USD exchange rate
You're still HODLing

zimmah

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Quote from: Campsis on May 06, 2014, 04:29:22 PM

Quote from: lewentkurt on May 06, 2014, 09:09:49 AM

I think it is enough 0,0001 Bitcoin..

Maybe if it reaches 500,000$ per BTC than yes! Huh

i don't know about you, but i wouldn't be able to retire on $50

I wish that were true $50 is easy to make.

NXTplayer

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haha.it's a good topic,bitcoin is growing faster and faster,so i think 20 bitcoin is enough for a retirement

true2self

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We have no clue this is nonsense. We have no clue what will be with bitcoin in 4 years. maybe it will become another myspace.

keithers

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This is the land of wolves now & you're not a wolf

Quote from: kireinaha on May 06, 2014, 04:39:29 PM

You guys crack me up. If bitcoin is truly destined to change the world (or at least the "store of value" side of investing), then the value is going to spike within the next 5 years, but more likely over the next couple. It may continue to go up from there, but at a slower pace.

So why look towards 20 years from now? Small bull case scenario, bitcoin could reach $40,000 USD according to Cameron Winklevoss. I would say get at least 25 before it's too late.

I agree that 25 I'd a good number to try and hold long term. If there is ultimately mass adoption like we are all hoping for, then 25 will probably be enough to live with a small fixed income from selling it when you are old, kind of like an IRA

Topic: How many bitcoins do I need to retire in 20 years? - page 162. (Read 320352 times)