Topic: How many Bitcoins needed to retire in 5-6 years? - page 5. (Read 14028 times)

True, I think I missread the messege of CEG5952.

Best would be to gradually increase holding to get to 25 BTC. The risk with this is that the BTC price could explode before you reach any near 25 BTC.

Details remain important in any financial planning, including questions regarding whether the investor continues to invest and/or monitor over the investment over years, or if the investor just sets aside the investment and hold. 

Setting aside and holding could work, except what does a person do with the ongoing flow of fiat (invest in BTC or some other asset or just blow it)?

And, usually, income goes up through the years, and a person is able to buy more of asset X or Y or Z or to dedicate a higher portion of income to investing... but it is NOT a given that a person will plan to invest over the coming years if the person sets aside and consumes nearly all of his/her paycheck.

Why are his holdings relevant to make a price prediction?

Disclaimer: Holder of >25 coins

Ok.... so that would be $1 million if the 25BTC achieves your target price of $40k per BTC. 

a) Are you planning to buy the 25 BTC now?
or
b)  have you already bought some of the 25 BTC?
or
c) will you to just continue to buy them over the coming years?   
or
d) do you continue to buy and trade BTC, but you will just keep 25BTC in a form of cold storage?   

Right now 25 BTC would cost about $15K.

Funny that we are ON page 8, of this thread, and OP has NOT chimed in to clarify his intent and/or to state whether we are getting close to helping him to answer his question.  Surely, there were some individual factors that were left out of the OP - but he did give us quite a bit to work with and to extrapolate upon.. and yes, some of us have deviated to some extent from some of the parameters of the OP.

Even though the various tangents in this thread could be helpful to other readers of the thread, sometimes it is also nice, and helpful, if OP could chime in to let us know if our various responses are helping him/her.

I think $40k is certainly achievable, but I'm just not sure on the time frame. 5-6 years, maybe not, but I'm planning on setting aside a retirement fund of ~25 BTC.

Depends whether or not you want to cash them all out upon quitting your job or sell them off over a period of time.

It's vague only if one reads the thread title, but doesn't read the opening post. OP exactly specifies the required amount: annual income of 30K USD in today's purchasing power.

The real topic of this thread is too vague for anyone to answer for anyone but him/herself.  I mean, if you have a huge vegetable garden and you have some goats then maybe you make cheese from you goats' milk and maybe you eat the vegetables from your garden and maybe you don't have to pay for food so that might be a huge expenditure for others that you don't pay.  Alternatively, maybe you have a mortgage on your home or maybe you don't.  There are too many factors in order to say generally how much money someone needs to "retire" much less how much money one needs in btc.

HELLO??   That is why you live within your means (live within the means of the passive income of the investment), and diversify the principle and possibly even continue to reinvest a portion of your income (meaning do NOT withdraw it). 

The extent to which you draw into your principle depends in part on your expectations and calculations regarding how long you expect to live or how many years you will be needing to draw income off of the principle.   

You should be able to easily live within your means between $5 and $10 million (that is between $20k and $40k per month).... If we are talking about amounts below $2million (b/c that would be less than $8k per month), then it may become a little more difficult, but it should be considerably manageable to figure out a way to live within your means and to allow the principle to continue to increase in value - especially when we are getting into the $5million and above arenas.

In any event with $5 to $10 million in principle, you should be able to figure out a way to live off of half of the interest (that is between $20k/2 and $40k/2 = $10K and $20k per month).  therefore, the principle will continue to increase in value, and you can continue to increase the amount of your withdrawal as your principle continues to grow.  Then you will have more money later in life and also a cushion and also the principle to fall back upon for your final years.

I repeat that if you need more than $10million as principle, then you should specify a reason for such need for more b/c merely stating that there could be unforeseen risks means that you have failed to adequately plan and/or to diversity and/or to live within your means.

Of course there is (coming back). In 2000, as internet bubble started bursting, I remember reading an interview of some B2B CEO who did not sell any of his shares, apparently believing his own verbiage about his stock. He had more than a billion in it (it was when B2B IPos were going up 900% on the first day). the stock eventually went to nothing. Going from a billion to nothing is harsh, but from 20 mil to 10, meh.

But there can be unforseen risks. Some of my investments might tank, there might be a big crisis. 10m is fine, except that I want to be doubly sure. Once I get addicted to that lifestyle there is no coming back.

Something tells me that BitcoinMillionaire doesn't have at least 2,000 BTC. Just a little hunch.

I got 10 to my name -- hoping that's enough to retire someday, LOL.

BitcoinMillionaire:  You did NOT say how many coins you have.  I would presume that if you are proclaiming to be a bitcoin millionnaire then currently you have at least 2,000 BTC..... which should be enough in the coming years, and it should be enough to begin to live off of them now. .and to withdraw NO more than 5% per year.

I think you will need more than 100 btc to retire, maybe more than 1000.
In 5-6 years bitcoin could peak at 50,000$ and then drop to 100$ if an altcoin will became the new numer one.

Everything is fine ass long ass the price goes up dont you all think.

Maybe it will be 1BTC for price of 100K maybe not anyway every one have his own mind on this.

So you guess I may be fine? I sometimes worry I can't continue my lifestyle when I retire. You know, that I don't have enough money for the relaxing years of my life!

I will say 80 BTC. But i dont need that much of a luxury. Make sure to have double of this for yourself.

O.k.  I agree with WindJC's above explanation.

 Marbit, if you read through various above discussions in this thread including a bunch of my speculations regarding how market cap relates to price, we can envision a large number of scenarios in which BTC's market cap has to go up in order to accommodate the increasing use, network effect and all of that.  You can look at the growth of any budding technology or innovation and you will see gianormous increases in value as these new innovations are developing and from the early adoption stages into their later stages... Bitcoin brings a lot of innovations to the table, and if you have studies BTC the network (rather than merely BTC the currency), you can  come to appreciate the multiple innovations that BTC brings to the table.. and appreciate that BTC is far and beyond (at the moment) the king of cryptos. 

Surely bitcoin may NOT accomplish as much growth as it is hyped up to achieve and it may be surplanted, but that does NOT mean that the potential is NOT there or that we are engaging in wild and crazy speculations in order to achieve these kinds of numbers, especially numbers in the $10k to $50k range within the coming years. 

I personally think it is wild and crazy (but not impossible) to expect $1 million value in 5 years, but $10K to $50K is totally within realistic and doable parameters.

The answer to your question about putting numbers on each BTC seems to have already been answered, no?  We are NOT merely talking about the price of 1 BTC b/c that is a fairly random unit, and maybe the BTC space should adopt a different unit of value, but we need to think about the BTC space as a whole and as a network and its market cap.  I think you put numbers on this price per BTC by considering the systems that BTC would be replacing, competing with and/or supplanting as it gains in popularity (that is gold, western union, pay pal, credit cards, banks, various currencies, etc).  There is value in getting into that currency, value transmittal and storage of value space.

i think i should got 500kusd . i should life free.
bitcoin its super strong,