I am buying BTC and hold them and even forget about them and in 4 years...

Lethn

legendary

Activity: 1540

Merit: 1000

Quote from: beetcoin on November 27, 2013, 04:43:34 AM

Quote from: Lethn on November 27, 2013, 04:32:35 AM

People are making the mistake of treating Bitcoin like a commodity, in 4 or 5 years paper money could easily collapse and you'll only have 40BTC - 50BTC to play with no one can say for sure how much a 1BTC will be worth to people when our current economic system does collapse but you don't want to make the mistake of valuing things purely in dollars.

yeah, well, i guess that makes the "will BTC reach $100,00." threads more plausible.. but i suspect they mean $100,000 in today's terms. i guess i should respond in those threads that "yeah, that might happen, but it might cost you $150 for a big mac at that point."

I want more Bitcoin, Gold and Silver Cheesy

so I couldn't care less about the USD price but that is my point, if the dollar rises continuously in Bitcoin then you can bet that stupidly high living costs will follow soon after and they're already ridiculous as it is at least if you hold something of value you can trade it for essentials when things go to hell.

Lewis2

member

Activity: 70

Merit: 10

If financial systems collapse and bitcoin remains stable, it is worth even more. Not expressed in dollars but in purchasing power. Still a good idea in your scenario to have some just in case.

beetcoin

sr. member

Activity: 434

Merit: 250

Quote from: Lethn on November 27, 2013, 04:32:35 AM

People are making the mistake of treating Bitcoin like a commodity, in 4 or 5 years paper money could easily collapse and you'll only have 40BTC - 50BTC to play with no one can say for sure how much a 1BTC will be worth to people when our current economic system does collapse but you don't want to make the mistake of valuing things purely in dollars.

yeah, well, i guess that makes the "will BTC reach $100,00." threads more plausible.. but i suspect they mean $100,000 in today's terms. i guess i should respond in those threads that "yeah, that might happen, but it might cost you $150 for a big mac at that point."

Lethn

legendary

Activity: 1540

Merit: 1000

People are making the mistake of treating Bitcoin like a commodity, in 4 or 5 years paper money could easily collapse and you'll only have 40BTC - 50BTC to play with no one can say for sure how much a 1BTC will be worth to people when our current economic system does collapse but you don't want to make the mistake of valuing things purely in dollars.

Lewis2

member

Activity: 70

Merit: 10

My tip would be don't forget about them, you wouldn't be the first to format your computer or loose a paper wallet. Further, is you can miss the money and are down with extremely high risk investmen, go for it. It's a funny thing, in the long hall (4 years in your case) there aren't many possibilities next to multiplying your money or end op with zero. Wish I had the money to make this kind of investments Wink

rampalija

full member

Activity: 154

Merit: 100

I would like to do that but i cant forget about them Sad

cloudstef520

newbie

Activity: 56

Merit: 0

of couse you will.just do it.

Martijnvdc

sr. member

Activity: 322

Merit: 250

I higly approve of this plan. Cheesy

But i won't forget about them... I'll try to acquire more!

Mondy

member

Activity: 112

Merit: 10

good luck forgetting about them..

de3mka

member

Activity: 102

Merit: 13

How do I change an avatar?

Quote from: donbu7 on November 13, 2013, 06:47:04 PM

I am buying BTC and hold them and even forget about them and in 4 or 5 years will look back and see what happened to them.

What do you think about this strategy?

How much do you think each BTC will cost in 5 years?

I will try to buy at least 20 or 40 BTC

Will I be rich in 5 years?

It is impossible to forget about bitcoins once you invested in them. Probably in 3-4 years you will start using them with services that will appear in your city never wanting to cash out to fiat again. Bitcoin is not only an investment but also an open market community.

pjviitas

sr. member

Activity: 434

Merit: 250

Anyone who tries to speculate in Bitcoin will surely be disappointed.

Unlike fiat currencies Bitcoins biggest strength is its volatility...keeps the scum away.

With that being said, I don't think there is anything wrong with holding on to Bitcoin as a hedge against fiat currencies.

segeln

hero member

Activity: 602

Merit: 500

Quote from: donbu7 on November 13, 2013, 06:47:04 PM

I am buying BTC and hold them and even forget about them and in 4 or 5 years will look back and see what happened to them.
What do you think about this strategy?
How much do you think each BTC will cost in 5 years?
I will try to buy at least 20 or 40 BTC
Will I be rich in 5 years?

I am about to do the same strategy.
read theses articles and watch the Video
http://bullmarketthinking.com/charts-bitcoin-vs-10-of-the-biggest-bubbles-in-human-history/
http://www.businessinsider.com/bitcoin-price-2013-11
http://www.businessinsider.com/why-bitcoin-speculators-laugh-at-anyone-who-calls-it-a-bubble-2013-4
http://www.youtube.com/watch?v=qHUPPYzzZrI
As the market is very bullish now you might reduce the risk of total loss by doing like that:
In case you get with 3,4,5,or 6 or even 10 BTC the sum by which you bought all the 20 or 40 BTC you are out of risk anymore.
Read the 3.link
If you do so you got one big advantage : you will save your nerves.
Just one short look each day whats going on will do.

rampalija

full member

Activity: 154

Merit: 100

Quote from: donbu7 on November 13, 2013, 06:47:04 PM

I am buying BTC and hold them and even forget about them and in 4 or 5 years will look back and see what happened to them.

What do you think about this strategy?

How much do you think each BTC will cost in 5 years?

I will try to buy at least 20 or 40 BTC

Will I be rich in 5 years?

you just need to make a papper wallet and put it on the safe place

mattessow

newbie

Activity: 43

Merit: 0

Quote from: donbu7 on November 13, 2013, 06:47:04 PM

I am buying BTC and hold them and even forget about them and in 4 or 5 years will look back and see what happened to them.

What do you think about this strategy?

How much do you think each BTC will cost in 5 years?

I will try to buy at least 20 or 40 BTC

Will I be rich in 5 years?

It's really good idea! If I had this money I would do that! There is always risk you can loose but it's everywhere! Good luck with that! Wink

LiteCoinGuy

legendary

Activity: 1148

Merit: 1014

In Satoshi I Trust

Quote from: cdog on November 15, 2013, 11:22:42 AM

~100 BTC should be everyones goal, with the idea of spending 10% per year to help grow the Bitcoin economy.

Get a 2nd job, or sell your car and take public transportation or get a super cheap 1990s car for the next 2 years.

Dont buy that latte everyday. Save your pennies and put it into crypto - BTC and LTC.

As BTC goes up in USD value, even if you spend 10% per year you will still see your total USD value go way up and you wont ever run out of coins.

But we cant just horde them people, the economy wont work that way. We must spend a % of our coins for all this to work.

sounds like a good idea.

take a look here:

http://www.bitcoinblackfriday.com/

Red_Evil

hero member

Activity: 1484

Merit: 500

Across The Universe

Quote from: BitchicksHusband on November 20, 2013, 08:15:21 PM

Quote from: Feneusens on November 16, 2013, 02:44:12 AM

Quote from: donbu7 on November 13, 2013, 06:47:04 PM

I am buying BTC and hold them and even forget about them and in 4 or 5 years will look back and see what happened to them.

What do you think about this strategy?

How much do you think each BTC will cost in 5 years?

I will try to buy at least 20 or 40 BTC

Will I be rich in 5 years?

Just wondering what are the method you are going to use to remind yourself of the password after 4-5 years...

Perhaps QR Code Photo ...

Or a favourite song ...

TheButterZone

legendary

Activity: 3038

Merit: 1032

RIP Mommy

Quote from: favelle75 on November 20, 2013, 08:04:11 PM

Quote from: donbu7 on November 13, 2013, 06:47:04 PM

I am buying BTC and hold them and even forget about them and in 4 or 5 years will look back and see what happened to them.

What do you think about this strategy?

How much do you think each BTC will cost in 5 years?

I will try to buy at least 20 or 40 BTC

Will I be rich in 5 years?

Are you 7? You JUST started a thread saying you are done with BTC and giving your coins away.

Haha, make that ignore highlight burn!

kireinaha

sr. member

Activity: 350

Merit: 253

Can`t help but laugh at those on here who take it for granted that bitcoin investing equals guaranteed returns year after year like they`ve found a money tree. Past growth is no guarantee of future performance, this whole thing could tank in the next year or two if insufficient new investors don`t come forward, and you`d be stuck holding the bag.

Of course, by then, maybe a second rally would start up, but who can say. I half think the OP was joking, `I`m going to buy this high risk asset and just sit on it for 5 years. What do you think? Good idea?` Sorry if you were serious, no offense intended.

BitchicksHusband

sr. member

Activity: 378

Merit: 255

Quote from: Feneusens on November 16, 2013, 02:44:12 AM

Quote from: donbu7 on November 13, 2013, 06:47:04 PM

I am buying BTC and hold them and even forget about them and in 4 or 5 years will look back and see what happened to them.

What do you think about this strategy?

How much do you think each BTC will cost in 5 years?

I will try to buy at least 20 or 40 BTC

Will I be rich in 5 years?

Just wondering what are the method you are going to use to remind yourself of the password after 4-5 years...

favelle75

hero member

Activity: 910

Merit: 501

Quote from: donbu7 on November 13, 2013, 06:47:04 PM

I am buying BTC and hold them and even forget about them and in 4 or 5 years will look back and see what happened to them.

What do you think about this strategy?

How much do you think each BTC will cost in 5 years?

I will try to buy at least 20 or 40 BTC

Will I be rich in 5 years?

Are you 7? You JUST started a thread saying you are done with BTC and giving your coins away.

Topic: I am buying BTC and hold them and even forget about them and in 4 years... (Read 5455 times)