How much Bitcoin to accumulate now to be financially set after the next boom? - page 5.

aoluain

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Quote from: buwaytress on February 09, 2019, 08:55:46 AM

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)?

Accumulating's always been the long term plan for the holders. Not sure if it's really the smart thing to do. Smart, arguably would always be to sell at the peak of the bubble, and there's already been at least three of those peaks to take advantage of. The smart guys would have made many orders of magnitude more than the holder in this fashion.

To provide my answer to the question, though... my target was to achieve 1 entire Bitcoin. It's personal for me, and while it doesn't represent very much today, it's still a lot where I come from. A more long-term goal, is to reach that fabled 1 million club (that's owning 21 BTC). I doubt I'll ever even reach a quarter of that target and that's even if 2019 remains like this for a long time. Bills to pay and all that.

My financial independence? I'm holding out for more than a decade. But I'm not expecting $100k BTC or anything. I think I'll settle for that much in savings by 2030 though.

I am an 80% holder, i cant trade and cannot read the markets so holding is
fine for me. I would love to be able to take advantage of the rises.

All I want is to pay my mortgage and give up the day job. I dont even have
1 bitcoin and probably wont have in the next 2 years either so the boom
would need to be big.

FIFA worldcup

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Quote from: boty on February 08, 2019, 11:10:34 AM

Quote from: thecodebear on February 08, 2019, 10:07:37 AM

Quote from: gabmen on February 08, 2019, 04:12:20 AM

Who can tell how far that next boom will take us? Or when it will happen? For are we know, a boom could simply get us to the 5k to 7k levels and who knows how much the correction to that boom will be. I'm looking way further than the next boom, probably around 2 to 3 years where hopefully having 5 to 10 full btcs would allow me to set up a pretty big non-crypto business.

By the next boom I'm talking about the next exponential gains above $20k (probably occurring in the next three years). I'm not just talking about the next time the price rises.

I agree, next year in 2020 there will be a price increase that occurs at the price of bitcoin because in Bitcoin I see a schedule of halving days going on so I'm sure it will have an influence on the price of bitcoin.

Well, we will see the next bull run after mid 2020, when bitcoin halving will be done too and it will boost the price of bitcoins.

If you ask me how much bitcoin should we accumulate to be able to get benefit from the next bull market, then i would say that we should gather as much as we can as the more bitcoin we have, the more advantage it will be for us.

veleten

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Quote from: WinslowIII on February 09, 2019, 07:31:35 PM

Quote from: figmentofmyass on February 09, 2019, 03:28:09 PM

Quote from: veleten on February 09, 2019, 08:01:18 AM

love how everyone thinks it is going to be worth millions in the next years (or at least hundreds of thousands)
but none seems to want to buy bitcoin cheap today Wink

everyone always thinks there's gonna be more time. that's the big mistake---not realizing how limited 21 million coins really is and what will happen when the tide finally turns and adoption explodes.

i was always really long term bullish on bitcoin, but i got too caught up in the bearishness of 2014-15. it really traumatized me on some level. i had the opportunity to really stock up back then, but i always thought i would have more time. i have way less coins today as a result. live and learn!

It's just as hard to sell bitcoin when it's $20k than buy it when it was $160. I sat and watched both and was paralized.

its your greed that is talking when you can't sell at a price you wanted to previously
I managed to sell some at 16.000$ and never regretted it

well.... wish I sold everything haha , it is my only regret ( and rebought cheaper)
but you have to keep in mind your targets and do not get mesmerized by the graphs , calculating how richer you are or going to be when trading

WinslowIII

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Quote from: figmentofmyass on February 09, 2019, 03:28:09 PM

Quote from: veleten on February 09, 2019, 08:01:18 AM

love how everyone thinks it is going to be worth millions in the next years (or at least hundreds of thousands)
but none seems to want to buy bitcoin cheap today Wink

everyone always thinks there's gonna be more time. that's the big mistake---not realizing how limited 21 million coins really is and what will happen when the tide finally turns and adoption explodes.

i was always really long term bullish on bitcoin, but i got too caught up in the bearishness of 2014-15. it really traumatized me on some level. i had the opportunity to really stock up back then, but i always thought i would have more time. i have way less coins today as a result. live and learn!

It's just as hard to sell bitcoin when it's $20k than buy it when it was $160. I sat and watched both and was paralized.

figmentofmyass

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Quote from: veleten on February 09, 2019, 08:01:18 AM

love how everyone thinks it is going to be worth millions in the next years (or at least hundreds of thousands)
but none seems to want to buy bitcoin cheap today Wink

everyone always thinks there's gonna be more time. that's the big mistake---not realizing how limited 21 million coins really is and what will happen when the tide finally turns and adoption explodes.

i was always really long term bullish on bitcoin, but i got too caught up in the bearishness of 2014-15. it really traumatized me on some level. i had the opportunity to really stock up back then, but i always thought i would have more time. i have way less coins today as a result. live and learn!

Febo

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Quote from: Slow death on February 08, 2019, 10:57:34 AM

Quote from: coinplus on February 08, 2019, 10:42:15 AM

I have calculated that 200 bitcoins allows me to retire right now.

200 BTC = $699.006

Talking about this is strange. What you will do then. Sell those 200 BTC and put them in bank? Bank that will go bankrupt in few years time? What you will do? Keep in BTC and BTC will go to zero in few years time. Buy Gold? Buy land? Whatever you do is some risk. And no matter what I would never all my BTC holding. I mean there has to be life and dead issue to do that.

exstasie

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Quote from: buwaytress on February 09, 2019, 08:55:46 AM

Accumulating's always been the long term plan for the holders. Not sure if it's really the smart thing to do. Smart, arguably would always be to sell at the peak of the bubble, and there's already been at least three of those peaks to take advantage of. The smart guys would have made many orders of magnitude more than the holder in this fashion.

If you're smart, you sell near the beginning of bear markets and buy near the beginning of bull markets. That's about as good as it gets.

As for the peaks, there's never much volume at bubble tops so there's only a few very lucky people selling at the top. I wouldn't call them "smart" because in a bubble scenario, it's totally impossible to know where price will stop. In 2017, it could have easily stopped at $10K or $50K or somewhere else. Anyone selling $19,600 was just taking a wild guess. The market could have gone to $100K afterwards and they'd look like an idiot!

Oceat

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Why do have to ask us when you can accumulate as much as you like as long as your own money is enough. There is no need for asking here you just have to see where your bankroll ends and that's it stop of the accumulation. Nobody knows where and what is the bottom yet that's why most of us would just speculate to know where is the nearest bottom.

buwaytress

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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)?

Accumulating's always been the long term plan for the holders. Not sure if it's really the smart thing to do. Smart, arguably would always be to sell at the peak of the bubble, and there's already been at least three of those peaks to take advantage of. The smart guys would have made many orders of magnitude more than the holder in this fashion.

To provide my answer to the question, though... my target was to achieve 1 entire Bitcoin. It's personal for me, and while it doesn't represent very much today, it's still a lot where I come from. A more long-term goal, is to reach that fabled 1 million club (that's owning 21 BTC). I doubt I'll ever even reach a quarter of that target and that's even if 2019 remains like this for a long time. Bills to pay and all that.

My financial independence? I'm holding out for more than a decade. But I'm not expecting $100k BTC or anything. I think I'll settle for that much in savings by 2030 though.

veleten

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love how everyone thinks it is going to be worth millions in the next years (or at least hundreds of thousands)
but none seems to want to buy bitcoin cheap today Wink

it is undervalued, IMHO but you never know what happens in a ten year's time
so I would not pin all my hopes and my future on bitcoin and its price
diversify, do not put all of your eggs in one basket

and 10 bitcoins is a good amount to have, just in case it gets to that crazy 6 digit figures
also it is very achieavble for an average Joe , just save or buy cheap and HODL

Lucius

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Quote from: Slow death on February 08, 2019, 10:57:34 AM

this is a strange question, but for people who live in the country like my country, it would be necessary to have 15,000 BTC to guarantee a stable life and a good retirement until death.

Are you sure that you need 15 000 BTC what currently worth 54 000 000$? I think that's a little too much money even today, and if we take in consideration that OP is ask the question which regards the next big pump, this 15k BTC could be very easy worth 10x more.

Maybe you have in plan to buy private jet or something like that, but it is about what one considers decent or luxurious life

zazzbg1

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There will be no boooooom.

ralle14

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It would take somewhere around 20 BTC for me to be financially set if there would be a boom similar to 2017 with the current price maybe a couple hundred. I try my best to accumulate as much as I can but I don't see myself reaching the said amount anytime soon.

Quote from: Bitcoinwaist on February 08, 2019, 01:45:56 PM

Right now as we speak, if you own any amount of bitcoin and plan on hodling and not selling anytime soon, chances are you will be financially set not this coming halving but the following one. One btc will be enough imo.

Owning any amount of Bitcoin won't set you financially in the future no one knows what would the price look like when the block reward is at 3.125. For you a whole Bitcoin would be enough but for us it might not be since the cost of living is different per country.

timerland

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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)?

I don't think that there should be a set amount.

Firstly, we don't know where the markets will go in the bull market. At the moment, all I can say with near certainty would be that there will be a recovery coming after this bear market concludes. Apart from that though, there is no reliable information available on how far the bull market will go in terms of BTC's peak value.

Personally, there is very little chance that this bull market will be anywhere as crazy as the 2017 one because the market has matured, and the market cap has increased to the point that there needs to be significantly more new investors in order to have percentage gains that we saw in the past bull market. Set your personal goals if you want, but for me, I'm just accumulating as much as I can at the moment before $4k because this is where I believe the market will show its bottom. I don't think this will be an opportunity for someone to be "set for life" from without having significant capital already, bitcoin just isn't a get rich quick scheme like that.

Bitcoinwaist

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Right now as we speak, if you own any amount of bitcoin and plan on hodling and not selling anytime soon, chances are you will be financially set not this coming halving but the following one. One btc will be enough imo.

eaLiTy

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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)?

It all depends on your financial status and how much you can afford in this market. Everyone wants to accumulate as much as possible but that is not the case with the price hovering over three thousand dollars, but this is the best time to invest for the long hold. I am financially stable after the last rally when it comes to bitcoin but attained some losses in some alts and I am planning to recover those losses in this rally .

boty

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Quote from: thecodebear on February 08, 2019, 10:07:37 AM

Quote from: gabmen on February 08, 2019, 04:12:20 AM

Who can tell how far that next boom will take us? Or when it will happen? For are we know, a boom could simply get us to the 5k to 7k levels and who knows how much the correction to that boom will be. I'm looking way further than the next boom, probably around 2 to 3 years where hopefully having 5 to 10 full btcs would allow me to set up a pretty big non-crypto business.

By the next boom I'm talking about the next exponential gains above $20k (probably occurring in the next three years). I'm not just talking about the next time the price rises.

I agree, next year in 2020 there will be a price increase that occurs at the price of bitcoin because in Bitcoin I see a schedule of halving days going on so I'm sure it will have an influence on the price of bitcoin.

Slow death

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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)?

this is a strange question, but for people who live in the country like my country, it would be necessary to have 15,000 BTC to guarantee a stable life and a good retirement until death. however provided that person did not make unnecessary investments with those 15,000 BTCs. In my case I will be happy on the day that I create my company thanks to bitcoin

Quote from: coinplus on February 08, 2019, 10:42:15 AM

I have calculated that 200 bitcoins allows me to retire right now.

200 BTC = $699.006

coinplus

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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)?

I have calculated that 200 bitcoins allows me to retire right now. Like not retire in a sense that I will be fine or anything but as a 28 year old person I can honestly say if I had 200 bitcoins today, I would be capable of living for another 50+ years straight without any financial burden ever (unless something horrible happens like a health emergency or something) and even the unexpected payments could be covered properly if you do not go out and just spend all of it in one place and just save and invest smartly.

I wouldn't go into risks and just invest into bonds and put it on the bank for saving interest and do as little risk as possible and I still wouldn't be capable of finishing that money. After the prices rises of course depending on how much it rises that 200 bitcoin gets lower. So right now price is 3.5 thousand dollars and I would need 200 bitcoins, so if price is 7 thousand dollars I would need 100 bitcoins, if its 14 thousand I would need 50, goes like that.

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It is completely upon the country in which you reside. On a third world country 5btc is more than enough to have a peaceful living taking the past peak value of bitcoin into consideration. With 5btc one cannot get a much sophisticated living, but one can have a better living which isn't possible by the regular earning from day job of a common man.

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