Any of you guys read Jacob Fisker Lund's blog before he stopped being early retired? Basically he made about $40,000 a year as a grad student, lived on about $7,000 a year and saved the rest for 5 years before becoming financially independent. Seems like he could have done it in two years if bitcoin had been in the picture. http://earlyretirementextreme.com/I've had this vision of selling all one's possessions for bitcoin, getting down to just what would fit in a backpack and travelling the world for 3-5 years waiting for full valuation to arrive. Yes I read it a couple of years back, it opened my eyes (further) for the possibilities.
The question is how many coins would it take to retire in 5 years? 25 probably isn't going to be enough. 100 on the other hand and you'd be set for life. Each coin would probably be $50,000. If you have 100 then thats like having a salary of $50,000 per year for the rest of your life, you can retire with 100BTC. You can't retire with 25 BTC unless you're in your 50s-60s.
Please do not assume $50000 per coin. That requires a valuation of ~1T$ which is a lot (I'm assuming 4-6-2013 US $ wrt buying power). Of course one can't help but dream  1T$ isn't really a lot. $5000 per coin is reasonable over the next 12-24 months. It probably will hit $5000 by Jan 2014. So I presume you maxed out all loaning possibilities and are working 3 or 4 jobs at the same time to make as much money as possible and buy coins at these prices? If you do this, and your premise is correct, you won't have to work anymore after that. In fact, you'll probably never have to doubt about any purchase ever. And if you recalculate the hourly wages this based on you projected 12-24 month Bitcoin appreciation the rates will be immensely high. I sold everything I own (worth selling, anyway-mostly electronics and furniture), took equity out of my house, and am putting money from my job into btc each week. I didn't take out loans, that way if I'm wrong, I only go to $0 and not negative with no way to pay back. But yeah, all aboard, see y'all at $5000USD watch out for a wallet hack, now that you've told everyone lol. |
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how many btc do you have proudhon?
I'm guessing zero  |
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You should make it so that customers can add the private key themselves for security.
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Journalists are mostly ignorant, stupid and too lazy to write something accurate on a very difficult matter like this.
Hey, it's people who are mostly ignorant, stupid and too lazy. Journalists just write what people want to read. Exactly this. A really boring news story: An emerging alternative to fiat currency seems to be doing very well online this week. -Numbers...blah blah, statistics, blah blah.- An exciting news story: The bitcoin scam is booming, despite previous warnings from the press. People are trading all of their real money, for a pretend money online that they hope to one day be able to spend for all their needs. -Interview with a crazy dude in a suit saying all kinds of things that aren't remotely true.- +1 This is why i have stopped clicking on stories that I know are bullshit. Sometimes I read the economist but places like http://patriceayme.wordpress.com/ is where you find the good stuff which is somewhere on the edge between conspiracy theory, hard truth and mad ranting. Certainly, my understanding that the financing of 9/11 came from Saudi Arabia (close ally of the US and probably the most conservative/reactionary country in the world), and then the US invades Afghanistan and Iraq, killing what is likely to be in the millions of innocent people did not come from traditional media. Even though things like Oliver Stone's Untold History of the United States can be viewed as somewhat conspiratorial, it is still probably much closer to the truth than what you are spoonfed by the establishment. Ignorance is bliss, isn't it? |
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Wecome back man. It's nice to see an old member return to the community.
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This is what successful traders do.
However, if you try to coordinate different actors to work together at particular price points, eventually someone will go rogue and screw everyone else.
How would they screw over everyone else? Wouldn't they just buy into a ceiling or sell into a floor? Unless that person more than half the money, I don't see how that would work. en.wikipedia.org/wiki/Prisoner's_dilemma |
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yeah, dreams are weird. a day before I had a dream where I was tripping on some psychedelic chemical, having cool visuals, but then all of sudden hundreds of cats attacked me, I was completely helpless because I was drowning in cats and all of them were biting and scratching me. that was a total nightmare but luckily it was such a bullshit that I actually realized that it has to be a dream so that by using my lucid dreaming powers I teleported away.
how is this related to bitcoin and/or speculation? |
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that could retire in the click of a button
retire into what?  private island(s) |
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Successful .5 BTC trade, thanks!
Thanks for the review! |
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Yes, the press is full of BS about Bitcoin being generated by hacker nerds by doing math and shit like that.
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FUD is working. the masses are going to get their information from news, they don't have time to research this and that.
the illuminati is working with the press to destroy bitcoin, we can't do anything now.
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I'm sure the lag is unintentional, as it usually only happens when a large amount of people are attempting to trade.
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Is it possible for the phone to be locked again?
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What do you need help with?
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Sell Sunday night, buy your coins back cheaper Monday morning.
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I want those pictures!!! How do i get them? I'm on chrome. anyone?
Use firefox |
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pics of the beam? did you have it power tested to confirm it is in fact 2000mw? |
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tfw i sold at $120 hoping to short, and failed because of you guys
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