If When later this year,
someday Bitcoin does another 10x I will "retire" and devote all my time to exploit research on blockchain/smart contracts field. That's when I will start to have real fun.
Looking forward to your research in 2019.
haha, I wish. I know it is perfectly possible that we do have another 10x in 2018 but.... something makes me hard to believe I will be so lucky. Wouldnt even care to wait a few more years for that. Not even if that means 10 years.
ANyway, whenever that happens you have my word you will see some exploits on my name (responsible disclosure ofc).
Some specifics might be helpful here:
1) what do you consider 10x? $200k BTC or $100k or some number in between?
2) what do you mean by retire, exactly? Are you cashing out some of your coins in order to invest them into some kin of funded research project?
3) Are you targeting 10x because that provides you with some cushion in the event that BTC prices experience a 90% correction and remain stagnated for a significant period of time, reminiscent of 2014-2016?
4) I do think that any investment plan that relies upon an upsurge of BTC prices does also require planning for a prolonged downturn in prices, too... and probably a 90% correction and somewhat prolonged would be the extreme of such, but really you never know for sure... but seems prudent to have plans and preparations for such within the realm of foreseeable (based on history) possibilities.
I don't like to be very specific to avoid profiling (as if anyone would be interested in profiling me... call me paranoid). I will try though:
1) $100K would be ok. I think I have said I am just a double digit BTC holder. So, even if it has recently growed to some "significant" amount of money for me, I still need a 10x to be a really LIFE CHANGING amount.
Please take into account that I live in Spain, so I basically need only 1/4 the amount of money an american would need for the same lifestyle. Maybe even less.
2) By "retire" I mean locking enough to make sure I can cover the rest of my lifetime even if I don't ever again have any income. It doesn't mean I will really "retire", maybe on the contrary it's a possibility I would even "work" more...... but I would be doing it with absolutely no constrains. It's not that I have many constrains right now, or ever, as I have always work for myself (well... for my clients or my "projects") but knowing I am covered for good would be the real change for me.
No, I don't need to cash anything onto any project, just enough to fund me for good. My research doesn't need expensive tools... at least almost none that I don't already have.
Will I cash out everything if/when target is reached? NO. In that way I wouldn't really be locking ENOUGH but, I do work with probabilities.... Bitcoin is not the only thing that could "retire" me any moment. I would just cash a sustantial amount and bet on the rest on growing... I would have to have very bad luck if, afterwards, not only Bitcoin but all the rest "investments" turn its back on me. If that happened.... I can keep working any time as I have always done on my own terms (basically "as needed").
3) Not exactly. If I were to "retire" ONLY on Bitcoin I would need the full $100K per BTC to make sure I ave enough in case I live much longer than I expect. But as I said, it's not the only thing so I could risk not cashing it all but just a small percent (maybe 10%?) yearly. Only a complete failure of Bitcoin for more than a decade could have the potential of depleting my "cushion". I will accept some risk.... as I accept everyday that it could just be my last day. Risks management on its finest.
4) I don't expect Bitcoin to retire me. I just say that IF it would do a 10x from here, it would have the potential to retire me. Please note that it was "The last of the V8s" who fixed my original post and changed my *IF* from a "when... in 2018". I just don't expect to be so lucky. It will be very welcome though.
I hope that has covered all the questions without giving more information about me than I would be confident. Oh and I already have a nice home, fine car and am completely DEBT FREE (Not thanks to Bitcoin as I have never cashed out a single penny yet). And no children nor family to support. That makes my current needs very modest and easy to fullfill, even if for the rest of my lifetime (not there YET... unless I were to die in a decade or two).