To all!
My question is for those of us who wasn't aware of Bitcoin at the start and earning an average salary.
Lets say that the person needs to start investing in Bitcoin today, say per month - a few Sats at a time (as much as you would pay into average pension plan)
Lets assume the person has ZERO Bitcoin.
So...
If you mined 1000's Bitcoin 8 years ago then this is probably not for you but I would still appreciate your views.
Some of you may live in countries where 10 dollars is a large amount of money.
Some of you may live in Oil Rich Countries where your Bitcoins are made of 22k Gold and mounted on the wall.
Some of you may be investors, miners, speculators, scammers / fraudsters, lawyers, School Teachers, Firefighters or Toilet Cleaners (yes and unemployed too)
But for the average struggling person, who wants to retire comfortably and doesn't like the idea of a pension plan...
Why do you think the minimum amount of Bitcoin is to Hold? What is your target?
Personally, mine is 25BTC, assuming that BTC is still around in 20 years, I would hope that it would be worth say 100,000 in todays money. (I hope)
I have chosen 25 because it was the size of the reward before recent halving, and its my personal challenge.
This is speculation, so you may assume a BTC is worth 500 dollars in 20 years and that affects the amount you think you should put away.
Yes its a punt, and this may be full of holes! That's why I am asking you guys
If the question is not clear, or has a few holes in it, then let me know and I will rephrase it.
The amount of bitcoins that would be sufficient for one's retirement depends on several factors,and in some of them you pointed out in your post.In the first place would depend on the country where you live or where you want to spend retirement.Your 25 Bitcoins are worth today around 18500$ what in some countries may be small fortune even today.The most important question is how much will be worth for 20 years?
If we assume that the value increased in this period by about ten times then for your 25 BTC you get 185000$.But you should take into account that the value of this amount today and in 20 years will not be the same.To put it simply,for the money you'll get then, you'll probably be able to buy a lot less than it is today.
If you have the opportunity to come into possession of 25 Bitcoin I do not see nothing wrong with your idea of retirement.You just need to keep in mind that this is a risky investment.