Topic: How many Bitcoins needed to retire in 5-6 years? - page 7. (Read 14028 times)

I don't get people who say things like this. If BTC goes through enough growth for 100 coins to be enough for retiring early in luxurious style, the bitcoin economy will be a pretty solid store of value by that point, have enough users to be a real economy in its own right and no longer so based on speculation, and you'd probably later regret your decision to transfer back to fiat. Just buy what you need with your coins.

there are anywhere between 12 mil and 30 mil millionares depending of the source of info.
50K would be 1/600 or 0.16%.
I don't think that anybody would notice.
Billionaires, on the other hand, would be noticeable  .

I don't necessarily believe that BTC will achieve such prices, either. But just for the sake of the argument: Why shouldn't this be possible? We've seen incredible rises before. Don't confuse the market capitalization with the price of a single Bitcoin. The price is and always will be determined by supply and demand, and therefore higher than the amount of FIAT that's been 'invested' in Bitcoin!

I hope 1 bitcoin will be valued 1 million dollars so I would retire in few years...

Well technically in 5-6 years it might look a little different

I am not really an workaholic, but I do somewhat like the work. I know once I give up work there is no turning back. The point is if I take the step it has to be really worthwhile, and enough reserves so that I don't have to think about working again.

Accordingly, you are suggesting some major transfer of wealth to us BTC "early" adopters.  Additionally, you are suggesting that there are going to be another at least 50K millionaires who will have come through the ranks of bitcoin investments... and probably at least 1,000 billionaires (those holding more than 1k coins).... .  Seems a bit pie in the sky in my thinking, especially to be achieved within a 5-6 year time-frame - but may be more reasonably achievable in the 20 to 30 year time frame...

In 5-6 years one BTC will buy you this.

Well, if you are satisfied with either one of those scenarios, then you would just need to plan to continue to acquire your 100BTC, and thereafter hope and pray that BTC prices appreciate to those levels, which I believe a lot of people in this forum would consider either scenario to be very conservative estimates.  On the other hand, if BTC prices appreciate greater than the amounts described above, then you will need to accumulate your BTC earlier b/c you may NOT be able to afford to buy enough to accumulate to 100BTC.  On the other hand (I am running out of hands), if BTC depreciates in value, then you can accumulate a lot, but they will NOT be worth much... hehehehe 

Man this is cool and with that amount of money in ether case is more then ok i can buy several real estates and live on rents.
Think that this idea is good not greedy but ok live on rent and that ok.

I hope 1BTC will be enough.

This plan makes LITTLE to NO sense; however, even a plan that makes little to NO sense could work out b/c your plan seems to indicate that you are prioritizing the acquisition of BTC rather than other assets - and if the price of BTC appreciates considerably, then your plan may work out just fine.

Let's say, for the sake of argument, that BTC prices goes up in value by 30% for each year for the next 6 years:

Year 1 (2015)  = $780
Year 2 (2016)  = $1,014
Year 3 (2017)  = $1,318.20
Year 4 (2018)  = $1,713.66
Year 5 (2019)  = $2,227.76
Year 6 (2020)  = $2,896.09

Then your 100 BTC would be worth $289,608.54, and in my thinking that would NOT be a decent retirement amount but you could live probably live off of it for more than 20 years, if you continue to let it grow and drew it down by $30k per year. 


On the other hand, if BTC prices go up in value by 50% for each year for the next 6 years:

Year 1 (2015)  = $900
Year 2 (2016)  = $1,350
Year 3 (2017)  = $2,025
Year 4 (2018)  = $3,037.50
Year 5 (2019)  = $4,556.25
Year 6 (2020)  = $6,834.38

Then your 100 BTC would be worth $683,437.50, and in my thinking that would NOT be a decent retirement amount but you could live probably live off of it for more than 30 years, if you continue to let it grow and drew it down by $50k per year.   

Anyhow, my point is that your ability to live off of 100BTC will depend on a few factors, including how much and how quickly the price of BTC appreciates, if at all.
 

I dont have 100BTC yet. But yes i will sell them all when i reach this amount. I will probably hold them for a while untill price goes to my side of story.

Also this wont happen soon so price can be much higher then now also it can be backfire down.

Never the less i will retire when i have 100 btc how much other coin i will have that is not mater my goal is 100 BTC then am out.

Either you must be a kid - who has NO real idea or experience(s) regarding the life-draining aspects of working (of course there will be some variation in the degree to which work is life-draining), or on the other hand, currently, you may just be a work-a-holic who thinks that a person gets meaning through work?  On the other hand (am I running out of hands?), you have a real high standard of living (and you believe that you need to continue to maintain such).  There are a lot of ways to retire on much less than some abstract $20-30 million - just consider that $1 million can generate about $4k per month gross in interest (or appreciation), and $10 million can generate 10X that.  Most people can figure out a way to live fairly comfortable between $1 and $10 million, and certainly, there may be reasons that a person has preferences to have a monthly income higher than $40k - but to me, as I already explained, it seems a bit pie in the sky or maybe motivated by other unstated reasons to feel that you need to acquire more than $10million.

OP already set forth his parameters.... and there has been discussion of various other possible amounts throughout this thread.

I will need at least 20-30 million to retire, otherwise it will not be a fun enough retirement. Considering the number I hold, Bitcoin has to go through massive bubbles to achieve this

Right now just look it as disposable extra money which is a bonus to my normal income.

Couldn't agree more with you guys... :/

With logarithmic growth everything is possible, but in 5 years 10 bitcoins maybe way too little, yes. This also depends hugely on the amount of money needed to retire!

10? Phew... okay, I mean it's as good a bet as all the others. If you asked people a couple of years ago if they could imagine a $580 Bitcoin, they'd have you institutionalized. But in order to really retire, I think we're more in the 50 BTC realms, at least...

When will you arrive at 100BTC, and what will the price be?

At this time, 100BTC is worth about $58,000.  That does NOT seem to be enough to live a very comfortable retirement in most parts of the world... unless you assume that BTC prices are going to considerably appreciate and that you are keeping your money in BTC (or that you have some other asset that you expect to appreciate)..

However, you already stated that you are selling all of your crypto, once you get to 100BTC...  There seems to be some missing assumptions and/or logic in what you are saying.  Can you explain your plan a little better?