Bitcoin Forum

How many bitcoin would you need to retire? What investment,  if any, would you put them in?

Start mining in 2010 - 2011, mine until all your 5990's burn up, put all btc away in cold storage, wait 20 years and retire.

I would have retired from menial, waste of life, b.s. work a few months ago... if only I had 5000 BTC  :-\

Think about what your asking...How in the world can anyone know where bitcoin will be 1 day from now, 1 month from now or 1 year from now. No one knows the price. Your trying to predict something that isnt predicatable. You can speculate, shit, I can say the sun will come up tomorrow. Odds are in my favor but there is still no guarantee. Only guarantee I know is that we all will perish at some point.

I'm sure the person who got paid 10,000 BTC for a pizza 3 years ago, if he/she kept it could retire happily on that.

So to me, getting to 5 figures of BTC like that, would probably be enough to say, I'll consider retirement.

Can you imagine!? Wow, I would be having a heck of time sleeping at night! Hopefully, the pizza was good :)

Just think: in 4 years someone might well be equally impressed with having 100 Bitcoin.  In 10 years?

+1 (except the part about all of us perishing; this claim is also unverifiable)

First of all, retirement is a myth. I know, because I've been there. You'll get bored. You still have to work; on relationships, your passions. Stuff doesn't just magically happen in your life because you have money.

Of course, you can sit there and do nothing (like the zen guys), or watch TV (much more likely). But if this is what you want to do, you're killing yourself by waiting. If you're sick of work, my advice would be to stop working *now*, not wait decades. Because if you wait, you'll be very sad when you discover that your whole life has wandered by while you were holding out for a bunch of money. If you take time off, you might discover that you actually want to "work", and then it's not work anymore.

So it's irrelevant how much BTC you have. "Retirement" (aka "freedom") depends more on mental outlook than funds in the bank. Maybe there's a limit to this, but it's quite low. Read Thoreau's Walden, he retired with almost no money.

Second of all, retirement is a myth because of what 1bettor says. The guys at Vanguard or Fidelity or your 401k who peddle "retirement" don't know what's going to happen to money, stocks, etc. Most of them are clueless about the risks from government money printing that could collapse the whole system and destroy everyone's "retirement". I guess all I'm saying is.. I wouldn't bank on it!

Finally, bitcoin is risky. Every day there is a nonzero chance of 51% attack or nation-state difficulty attack (https://bitcointalk.org/index.php?topic=210900.msg2216328#msg2216328). If you dream otherwise, you are sticking your head in the sand.

I couldnt agree more with you (except maybe what happens when we die or at least what happens to the soul)! Anyhow, I am a firm believer in being happy, living each day to its fullest and if you're not happy, goddamn it, do something about it!

There is definately no MAGIC. No one can predict. I used to always worry about $ and my job, my family issues, my friends issues, it literally made me nuts. If you hate your job, find one you like, verrrryyyyy simple. If you say you need to make X amount, ask yourself why? You keeping up with the Jones's? Live within your means, hopefully you all know what that means.

I am in my 30's now and man ohhh man, I wish I knew what I knew now back when I was 20 (dont we all). I live my life entirely different, treat people different, my views are differrent, etc.

Sorry to get a little off topic here but one last thing I try to tell my friends and loved ones is, treat everyone with respect and never ever think you are better than anyone because you live here or make X amount or drive a porsche, etc. These material things will only make you happy for a slight instant and then what? Money wont buy you happiness, I can 100% guarantee that. It may make things a little easier at time, make things a little more convenient, but thats about it.

I treat others as I want to be treated.

BTC could be $1.00 next week or $500, who knows. Enjoy life, live your life to the fullest without regret, you never know when your time is up and you dont get to see your loved ones anymore. An hour from now isnt guaranteed, nor is tomorrow. Try to be a good person and make a difference each and every day.

100

Well said, I wholeheartedly agree!

spiccioli

Neither of you belong here. You both have hearts and not enough greed where your heart should be.  ;D

Quoted for truth.   Being healthy, and vibrant is the ultimate wealth.   There is no substitute.  

Got all kinds of money from working yourself into the dirt, but a bad back, bum knees, foggy brain, grey hair, saggy skin, and the highlight of the day is getting in a good bowel movement...sounds great....lol

One.

100k would be enough

If you're member of the Vladimir Club (https://bitcointalk.org/index.php?topic=98239.0), I believe you will be able to retire on it within 3-5 years.

never enough, there's a good chance bitcoin to fail.

I would think that the point of retirement is to be able to devote maximum time toward things that matter, rather than putting time->money into someone else's pocket with the minor self benefit of being able to pay the rent every month. I sometimes wonder about the casual attitude of those with wealth who never had to worry about such things.

$122,000,000 may seem like a lot to you, but not to everyone.  ;D

Mathematically, I presume you meant $12,000,000. BTW $122,000,000 is a lot to everyone.

You need about 3.5~5 mln dollars to retire at age 30.
So that makes it about 30.000~40.000 btc.

Since i can't see bitcoin skyrocket any time soon i think you need a lot more though.

below the equador 1 mi USD is enough to retire and live a very good life

For now, BTC are not enought usable to pay for the housing, food, transportation, clothes, drugs, etc

So even with 1 million BTC I would not be able to retire... Conversion to fiat (govt money) are still needed to speak of retirement actually.

either 1 or 1 million

I bet on 1000 U$ / BTC before 2016, so with 8000 BTC converted to fiat, it returns 8M, give 4M in taxes, 4M left, that should give 100k U$ / year.  If we take in account how much hyperinflation we may see in the next decade, we're fucked up.  So, better stick on BTC and wait for the day you'll be able to retire all-in BTC... imho, within 10 years..

no, you don't need that much, you just need to live cheap. Move to the 3rd world, living like a king for 15$ day.

Lol literally

Thought of Dragonball.

Fuck taxes.

You guys are not thinking right, live off the relative negative inflation of bitcoin. No reason you would sell off all at once, adjust your retirement calculations accordingly  ;)

Something to definitely consider.  The inflation of Bitcoin at this moment is the highest it will ever be, and it will only ever get smaller until the point where it is non-existent around 2140.

The next reward halving in 2016-2017 is going to be silly.

retire from what? unemployment?
I think I could get that on the cheap.