How much Bitcoin to accumulate now to be financially set after the next boom?

bkbirge

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Quote from: WinslowIII on July 20, 2019, 07:53:59 PM

Hold, like - don't even think about selling for crashing fiat. That's the end game.

Exactly, this. Unlike investing in most other asset classes, with bitcoin (if you take the loooonnnngggg view) you don't have to have an exit strategy. But you do have to have a "hold on for dear life" strategy because the ups and downs will test a lot of people.

jerry0

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For the average person in the western world... would you say its probably 10?

Biodom

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Millions of $$ per btc scenarios are so far-fetched that they shouldn't even be seriously considered.
There never was an asset that behaves like this, hence it is less likely to occur (in my opinion).

I can see btc fighting with gold, maybe taking 10-50% of the gold market cap.
Gold is now around 9 tril, and maybe it can go to 10-15tril.
Therefore btc is likely to peak at 1tril-7.5tril or 50K-360K.

Maybe several decades later btc would try to break out from this range, but it is largely academic right now.

Wilhelm

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Quote from: exstasie on February 08, 2019, 03:09:15 AM

Quote from: thecodebear on February 07, 2019, 12:04:18 PM

What's your goal number of bitcoins to accumulate now (or how much will you be satisfied accumulating)?

I'm satisfied with my holdings. I'd rather not mention anything more than that.

Quote from: thecodebear on February 07, 2019, 12:04:18 PM

How much bitcoin do you think it would take for you to set yourself up for life financially assuming you sold late in the next bitcoin boom (at whatever price you think you would sell at and you think will be hit on the next boom)?

It depends what shape the next run takes. If it keeps continuing on the logarithmic curve, we'll probably only see $300K-400K on the next run, tops. So 10 BTC might do it.

If it's an s-curve, the sky's the limit. My favorite projection for the next bubble top (maybe 3 years out) is $13 Million per BTC. So 0.25 BTC be enough! Cool

$13M per BTC and I will most certainly have to retire Grin

lixer

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Quote from: jerry0 on August 12, 2019, 12:41:09 AM

So what is the number then for most ppl?

You will not get a direct number, because it all depends on each individual’s ability and financial strength. Let me tell you the goal of everyone, to have all the BTC if that is what you want to hear, but it is absolutely impossible, because bitcoin has gone pass the stage where it is cheap to accumulate, so people only invest according to what they have and according to the status of the coin at that time, the cheaper the coin is, the more they buy and the more expensive it becomes, the lesser they buy because they have to also be careful not to fall trap of All time high.

My own present plan now is to keep accumulating till we are almost near a point where I can confirm that the all-time high is near, because no there is no money that I put now that will not yield profit for me.

deisik

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Quote from: RealMalatesta on August 08, 2019, 09:16:14 AM

Even though fiat will no longer be that useful, but imagine that i satoshi becomes equivalent to 1 usd and I am able to accumulate about 100 million satoshis. my aim right now is to keep accumulating enough satoshi that I can accumulate before bitcoin supply become zero and then it will become very difficult and very expensive to have bitcoin by then

Essentially, you are hoping for a big fat free lunch, but why would anyone want to give you one? It is the same with other holders who hope that Bitcoin will miraculously surge to the moon in the future (like a few million dollars), and they will all become insanely rich one day for basically doing nothing

But as the (in)famous con artist of the first half of the 20th century, Joseph Weil (aka Yellow Kid), noted, "each of my victims had larceny in his heart" and "the desire to get something for nothing has been very costly to many people who have dealt with me and with other con men" (as per Wikipedia article)

So who is going to pay for the party?

7788bitcoin

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Quote from: jerry0 on August 06, 2019, 04:13:16 PM

Would you say its probably 5 at the absolute minimum? I think the number is either 5 or 10. If btc hits 300k, that is 1.5 or 3 million dollars. After taxes, you would have 1 million or 1.8 million right?

It all depends upon your financial strength and the bank balance you have, right now the price of is well above $10k and if you have the money to invest hundred thousand dollars then you are already settled in life Tongue

. If you were able to accumulate when the price of bitcoin was really low then it would have being great but now you need big bank balance to invest in 5BTC to 10BTC, invest what you can and trade smartly will be my advice.

WinslowIII

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Quote from: exstasie on August 12, 2019, 01:42:39 AM

Quote from: WinslowIII on August 07, 2019, 04:26:29 PM

Quote from: exstasie on August 07, 2019, 12:16:16 AM

I never want to sell 100% of my coins but I also don't want to wait and hoard them forever either. Heck, I'm still renting an apartment. In some sense, you can't put a price on owning your own piece of land. That's something I'm willing to give up a few of my BTC for.

And this is why you won't be holding any when it crosses $1m. You will be just like most here with one of an endless number of excuses why to sell, sorry to say.

.....says the guy who arrived in 2018. Cheesy

I've come across plenty of newbies like you who think they know it all. Where were you when I was accumulating BTC 98% south of here? It's a damn shame to arrive so late that you can't even fathom selling a few BTC! Tongue

If you are renting an apartment, then yes I certainly see why you want to get out of that shitty situation - sell away when you have enough to buy a house outright. Life is too short to live like that any longer than you have to. If you can, try to hold at least one for the rest of your life though.
And btw, time in this scene is no guarantee of success. I'm sure there are way more people who had bitcoins years ago and dumped them - many for a loss- never to buy them back then those who held all the way to now. I'm willing to bet that way more people who were part of this scene 5+ years ago have lost money rather than made it. It's because they treat bitcoin like a gambling tool rather than a long term investment, or possibly got fucked by mt gox or some other exchange scam. I'd also not ever assume jack shit about someone based on the join date of their bitcointalk account. For all you know it's one of a dozen dating back to 2011.

exstasie

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Quote from: WinslowIII on August 07, 2019, 04:26:29 PM

Quote from: exstasie on August 07, 2019, 12:16:16 AM

I never want to sell 100% of my coins but I also don't want to wait and hoard them forever either. Heck, I'm still renting an apartment. In some sense, you can't put a price on owning your own piece of land. That's something I'm willing to give up a few of my BTC for.

And this is why you won't be holding any when it crosses $1m. You will be just like most here with one of an endless number of excuses why to sell, sorry to say.

.....says the guy who arrived in 2018. Cheesy

I've come across plenty of newbies like you who think they know it all. Where were you when I was accumulating BTC 98% south of here? It's a damn shame to arrive so late that you can't even fathom selling a few BTC! Tongue

jerry0

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So what is the number then for most ppl?

RealMalatesta

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Quote from: thecodebear on February 07, 2019, 12:04:18 PM

For all you people doing the smart thing now and accumulating Bitcoin on the bottom, two questions:

What's your goal number of bitcoins to accumulate now (or how much will you be satisfied accumulating)?

How much bitcoin do you think it would take for you to set yourself up for life financially assuming you sold late in the next bitcoin boom (at whatever price you think you would sell at and you think will be hit on the next boom)?

My goal is to keep gathering millions of satoshis and if possible a billion satoshi, I am not dealing with bitcoin now because it takes a whole lot of money to be able to accumulate lots of bitcoin, but my investment in bitcoin is far beyond this present time, but I look forward to the future when bitcoin will become a global currency, and when bitcoin becomes global currency, satoshi is what will become more popular then.

Even though fiat will no longer be that useful, but imagine that i satoshi becomes equivalent to 1 usd and I am able to accumulate about 100 million satoshis. my aim right now is to keep accumulating enough satoshi that I can accumulate before bitcoin supply become zero and then it will become very difficult and very expensive to have bitcoin by then.

WinslowIII

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Quote from: exstasie on August 07, 2019, 12:16:16 AM

Quote from: WinslowIII on August 06, 2019, 06:14:17 PM

Quote from: jerry0 on August 06, 2019, 04:13:16 PM

Would you say its probably 5 at the absolute minimum? I think the number is either 5 or 10. If btc hits 300k, that is 1.5 or 3 million dollars. After taxes, you would have 1 million or 1.8 million right?

So here's the scenario: btc hits $300k and you sell all 5 bitcoins you have thinking you are now a millionaire and set for life. A few years later that $1.5m is now worth $700k due to inflation, and the 5 bitcoins you sold are now worth $5m.
Do you see my point? I don't see this being a game to become a fiat millionaire

Fiat obviously isn't a good long term hold. That's where jerry0 has it wrong. But selling into the next bubble and using the fiat to put into real estate? That's something I could see for myself.

I never want to sell 100% of my coins but I also don't want to wait and hoard them forever either. Heck, I'm still renting an apartment. In some sense, you can't put a price on owning your own piece of land. That's something I'm willing to give up a few of my BTC for.

And this is why you won't be holding any when it crosses $1m. You will be just like most here with one of an endless number of excuses why to sell, sorry to say.
Just like few have the extra cash to buy one today, few are in a financial position or have the fortitude to hold for the rest of their lives and will them to their children. These are pretty much the only ones reading this who will be holding $1m+ bitcoins. Most sellers along the way, however, will all regret their sales, in time.

fabiorem

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There are 16 million coins.

If we have 10% world adoption, we will have 600 million users. This is 0.026btc for each user.

So, one bitcoin can set you for life if we reach 10% world adoption, which might happen after the next cycle.

You will only need more if you want lambos, yachts and hookers.

deisik

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Quote from: WinslowIII on August 06, 2019, 06:14:17 PM

Do you see my point? I don't see this being a game to become a fiat millionaire, but a game to get out of crashing fiat. The challenge is to do that with fiat you don't need to live on, money you can afford to be without for a few years. Most people live paycheck to paycheck, buying bitcoins for the future is simply out of the question

There are quite a few options available in that case

The most obvious one is to reinvest your fiat income which remains after your basic needs are satisfied (a home to live in fills the list of basic needs as well) back in crypto (Bitcoin and top altcoins) right at the end of the next dump cycle. I suspect this is what many of us are already doing anyway. If you want to save the accumulated wealth, you should look outside cryptocurrencies. Gold comes instantly to mind, but there are other options less obvious and probably more profitable (gold hasn't been very profitable overall for the last 40 years)

exstasie

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Quote from: WinslowIII on August 06, 2019, 06:14:17 PM

Quote from: jerry0 on August 06, 2019, 04:13:16 PM

Would you say its probably 5 at the absolute minimum? I think the number is either 5 or 10. If btc hits 300k, that is 1.5 or 3 million dollars. After taxes, you would have 1 million or 1.8 million right?

So here's the scenario: btc hits $300k and you sell all 5 bitcoins you have thinking you are now a millionaire and set for life. A few years later that $1.5m is now worth $700k due to inflation, and the 5 bitcoins you sold are now worth $5m.
Do you see my point? I don't see this being a game to become a fiat millionaire

Fiat obviously isn't a good long term hold. That's where jerry0 has it wrong. But selling into the next bubble and using the fiat to put into real estate? That's something I could see for myself.

I never want to sell 100% of my coins but I also don't want to wait and hoard them forever either. Heck, I'm still renting an apartment. In some sense, you can't put a price on owning your own piece of land. That's something I'm willing to give up a few of my BTC for.

WinslowIII

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Quote from: jerry0 on August 06, 2019, 04:13:16 PM

Would you say its probably 5 at the absolute minimum? I think the number is either 5 or 10. If btc hits 300k, that is 1.5 or 3 million dollars. After taxes, you would have 1 million or 1.8 million right?

So here's the scenario: btc hits $300k and you sell all 5 bitcoins you have thinking you are now a millionaire and set for life. A few years later that $1.5m is now worth $700k due to inflation, and the 5 bitcoins you sold are now worth $5m.
Do you see my point? I don't see this being a game to become a fiat millionaire, but a game to get out of crashing fiat. The challenge is to do that with fiat you don't need to live on, money you can afford to be without for a few years. Most people live paycheck to paycheck, buying bitcoins for the future is simply out of the question.

jerry0

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Would you say its probably 5 at the absolute minimum? I think the number is either 5 or 10. If btc hits 300k, that is 1.5 or 3 million dollars. After taxes, you would have 1 million or 1.8 million right?

rdluffy

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It's a tough question, I'll accumulate as much as I can
I don't have an exactly number, but let's say if BTC reach 100k USD I'll be in a very good position to have my financial independence, not retirement yet

WinslowIII

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Quote from: jerry0 on July 20, 2019, 04:43:25 PM

Wouldn't 5 be probably the absolute minimum for someone with north american standards? But this the number probably is at least 10? Reason is because experts seem to say 300k is where bitcoin will end up so that would be 3 million dollars. After taxes, well you still have at least 1.8 million right? I mean could you imagine selling everything and then having 1.8 million usd?

Everyone talks about what amount of fiat bitcoin should be worth to be "set". The problem is that the economy and the dollar value is going to crash. This is why bitcoin has the value it does today - because shit is going to fucking crash.
Hold, like - don't even think about selling for crashing fiat. That's the end game.

exstasie

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Quote from: jerry0 on July 20, 2019, 04:43:25 PM

Wouldn't 5 be probably the absolute minimum for someone with north american standards? But this the number probably is at least 10? Reason is because experts seem to say 300k is where bitcoin will end up so that would be 3 million dollars.

"Experts"......

There are no experts. Everyone is perpetually wrong trying to predict its future price. Bitcoin is completely new/experimental and only a decade old so we have no precedent for how it will act.

To me, $300K seems reasonable for next bubble, but long term 7+ figures makes more sense to me. If you could manage to have 1 BTC 10 years from now, I think you'd be set for life.

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