Topic: How much Bitcoin to accumulate now to be financially set after the next boom? - page 2. (Read 19765 times)

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?

This is a question that will have many different answers since there are so many variables, variables like your age, how high the price goes during the next bull run, costs of living in your country, your preferred standard of living, your health, how much do you earn at your job, and even what it means to be financially set, in my case if the next bull run allowed bitcoin to reach a price of 40k then I will need something like 50 BTC to not have to work ever again, but the number of coins that I need can go down if I am successful as a trader.

It would have been great, if we could have control our destiny.
Btw nice question OP.
If i could control my luck, then i would like to have almost 25 bitcoins, so that i can remain stable in my financial conditions.
Provided with that the BTC should rise up to 15k USD.
This is just my opinion lmao.
I don't know what others think.

Actually, it could be even worse than that. The current ATH is 20k and the low since then is 3k, so that's an 85% pullback from ATH. And that's actually not as bad as previous pullbacks, where we saw over 90% falls.

I suspect the percentages will get much more reasonable but then crashes are the necessary companion of parabolic rises so we shouldn't be surprised if more 90% lows from new ATHs happen. In this case, 10k from 100k really isn't that unthinkable.

So how much is enough does also depend on how long ahead and how impossible we want to imagine.

Such a nonsense post. Are you drunk or just stupid? talking about shitcoin Dash and a lousy thousand dollars a month, 500 bitcoins needed to live forever. NOBODY LIVES FOREVER. If someone had 500 bitcoins today they would be set unless they are stupid.
I'm going to guess your age and occupation - 16, live with your parents.
How'd I do?

Thing is that there is huge difference of price at next ATH and the following bottom. Bitcoin could be $100k at ATH and then fall down to $20k at bottom. So if you wanted to have a million you would need only 10 BTC at ATH and 50 BTC a year latter.

Its easy to own a lot of bitcoin when you live on the richest country even if you don't have work for sure you can get bitcoin coming from the free money that your government gives to you every month. I don't have any ideal amount of bitcoin to hold, because I only buy what I can afford and may .5 is the ultimate goal next to 1BTC.

It's an interesting thread

Here in my country, if I have "only" 2 coins and BTC reaches something like 25k USD I will have my financial independence, and I'm looking for this
I won't be retired, but in a good position to work with something I really like, without worries to pay my bills

Passive income will be a good solution for every people. However, we need to prepare the money for investing in the Dash masternode.

I think we can try to collect as much bitcoin as we can do from now especially if we have skills and we know how to get more and more bitcoin from many ways. That will help us to have more bitcoin so when the bitcoin price can increase more than $50k in the future, we will be a rich people, and we don't have to feel difficult to fill our daily needs.

Depends on the nation as well, I mean if you live in USA than you need more money to be financially set versus if you are in some African small country, I am sure people in Zimbabwe or Venezuela do not need that much bitcoin to be financially set forever, with just like 10 bitcoins they should be able to live forever whereas an American would need something like 500 bitcoins to live forever with it, maybe even more if they live in New York or Los Angeles type of expensive places.

I would personally want to have Dash masternode (or something similar in passive income sense) that would make me enough money with the profits, so if I need 1000 dollars per month then I want dash masternode to give me that much if its 1 node or 2 or 5 doesn't matter to me. That way I can both keep my capital without spending and still don't have to work ever again.

It depends on your current financial level and some people especially those from the third world countries 10btc can makes them one of the richest person in their communities and to those from a developed countries like uk and USA 100btc maybe what there need. For me with 300btc i will be free financially.

Shit plan. HODL.

Well if you are talking about north american standard... say bitcoin is worth 100k a coin... wouldn't the number be more like 25 at least? 


2.5 million dollars after taxes... let say you have 1.5 to 1.8 million after that.

Your post is the way most veteran Bitcoiners think. Either HODL or keep a strict strategy.

Well thanks.. unfortunately not really a n00b.. lost access to my original account awhile back, so had to make a new one... And just in general don't post often..  I've actually been around since 2012...

Sigg

You are the first n00b poster who knows his shit  

So yeah.. know the feeling...  the solution:  right now while things are calm, and you aren't caught up in the emotions of a bubble, or a crash... sit down and make a spreadsheet of all your planned buy/sell points.. all the way from buying X at $1,000, up to selling Y at $1,000,000 .. and every point in between (I literally have a buy/sell point at each 5% price increment...)   then just sit back, ignore all the hype, and stick to the plan...  This is what I did, and the stress and second-guessing while going through the 2017 bubble was about non-existent. 

Sigg

I would definitely not just buy 3 altcoins with 75% of my money. Bitcoin is the one sure thing. If you pick some altcoin it could 1000x (very unlikely), 100x (unlikely), 10x, 1x, 1/10x, etc. Any altcoin is a risk, some will disappear by the next crypto boom, and you never know how high others will go so you might sell way too early or way too late. We know Bitcoin will have a massive boom and I think its a lot easier to predict a general range for the next peak (though of course could be well off still). With bitcoin I'm thinking the next peak will be $100k-$150k. Personally I'm gonna sell most of my bitcoin probably just under $100k just in case it fails to break it, and will keep some to sell over $100k cuz i think it probably will break it. But there is no way I could remotely guess what any altcoin will peak at on the next crypto boom, I could easily sell an altcoin at 20x and then it goes to 80x, or think its going to 80x and it only 10x's.

So for me I'll be putting probably 90% of my crypto money in bitcoin, and put a small allotment into maybe a dozen or so altcoins just for a little bit of diversification.



Anyway, my question wasn't in general how much would it take to be financially set, which is how a lot of people seemed to take it. It was a personal question, meant to have a different answer for each person because everybody has a different idea of what the price will be at on the next boom and what they need to be financially set. I think at 25 Bitcoin I'd be set for life if I average selling say just under $100k per bitcoin. Diversify that into stocks, and keep some to buy back a few more bitcoin on the next bottom in a few years, planning to simply spend that bitcoin in the years/decades to come as spending becomes easier with adoption gains.

It depends on what you mean by being financially set. Bitcoin could hit 150,000$+ in 2023 which means if btc comes down to 1500, it could go x100 in the next boom. If being a millionaire is what you classify as being financially set, then I suppose 30 bitcoins would do it. But remember, diversification is key. Let's say I have 45,000$ to invest for the next boom. I'd divide that money into 4. With these, I would hold not only btc, but also 3 other coins that could go x1000+ (let's face it, a couple of them would) after the next boom. All four might not be successful up to my expectations, but I would make way more money than I ordinarily would if I had accumulated bitcoin only.

I personally don't think you have to attach a specific amount of bitcoin to own in order to be wealthy in the future, all you need do is just take advantage of how cheap it is and acquire as many bitcoin as you can acquire.

What I do as a freelancer is that I make sure I keep a specific percentage of all the bitcoin I earn into a wallet I know I can't have access to for now until 5 years time.