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Skieleton (OP)
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May 25, 2018, 09:05:35 PM |
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I came across a very nice experiment of one of my compatriots. He started to put up around $ 50 a month for pension. I will add that pensions in my country are low.
Description of the experiment:
"What is going on?
One of my many areas of interest are cryptocurrencies. There is a good chance that you have heard about bitcoin. A smaller chance that you know litecoin or dogecoin. If you want to know the technical side or economic cryptocurrency - use google. For the needs of my retirement, it is enough to know that cryptocurrencies act as cash in a modern version. They have their value (they are listed on the stock exchanges, they have their course), they can be safely stored, they can be sent immediately to any distance, practically free of charge and - with a little effort - they are anonymous. And they are today at the initial stage of development. Everyone who touches them is still an early employer, and this means that - with a high probability - a long-term investment in cryptocurrencies will be very profitable. I chose 4 cryptocurrencies for my retirement basket and gave them percentages indicating their presence in the basket. When making my choice, I based my own - already several years - experience in the cryptocurrency industry, the capitalization value of a given cryptocurrency (market cap) and the features that distinguish it from other coins on the market. And so I chose:
How much do I put aside? I did not want to set any fixed amount. Because you know - inflation, fluctuations in financial markets, etc. ... So I decided that the value of a monthly investment will depend on the minimum wage in Poland. In 2017, it is an amount of $ 540. And every month I invest 10% of this amount, that is 50 $. "
He has currently invested $ 1,600, and the rate of return since early 2017 is 1,600% = $ 27k.
It's a great idea, right?
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SuperD007
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May 25, 2018, 09:35:19 PM |
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Does make sense and seems to be working well for him so far.
I probably wouldn't put all my eggs in one basket though. I mean it's likely the currencies he has invested in will continue to grow but there are no gaurantee's off course.
Perhaps it might be a good idea for him to take out like 10% of the $27k to re-invest to diversify a bit.
One currency that I absolutely hate with a passion, it's the worse crypto on the market becaue it's everything a crypto shoudn't be. (Centralized, controlled by the banks, etc..) is Ripple. As much as I hate the bastard thing, there is one thing that I realized. They have cemented themselves with the people who currently control the global economy, the large banks. Notice the recent ADVERT on Ellen with Ashton Kutcher "donating" $4million using Ripple.. that's because the same skanks that own the big banks, also own the major TV networks. So that whole thing was staged. I think even though it;s a horrible skanky currency, I suspect it is probably a good long-term investment, purely because it has the backing of the people who currently run the economy. Perhaps your friend might consider investing a little on ripple for the long hold. Pluse a few good alt coins just to diversify his risk
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edjames
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May 25, 2018, 11:08:38 PM |
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It's a great idea until it isn't.
Everything looks amazing when the percentages are big and everyone is making money, but there's no substitute for careful planning and investment.
Sure, a $50 bet can be fun, and a $100 investment that doubles, then triples in a short space of time is even better but don't gamble too much.
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cocktail111
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May 26, 2018, 08:11:38 AM |
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Scalability and decentralization. Basically, the thing that makes bitcoin bitcoin is what makes it weak. Decentralization is cool on paper, but every revolutionary project needs guidance and one genius man behind it (Steve Jobs anyone?) The second thing is scalability. In order for bitcoin to be mass adopted, it needs to become scalable AF. However, this are not failures that will bury bitcoin. I'm a true believer and I see a very bright future for btc.
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keycellko
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May 26, 2018, 08:22:46 AM
Last edit: May 27, 2018, 12:48:16 AM by keycellko |
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If bitcoin goes $100,000 then it will be grandiose retirement. Well we can never really tell. Bitcoin is volatile. We can't predict how this is going. But its a really good investment. So far, many have reaped the benefits that bitcoin has brought. But not many got lucky. Some people who lacks the tactics in the bussiness of cryptocurrency wil tend to fail. But who would know when to sell and when to buy? Who would know you bought at dump? Or you sold at high? When the price is continually fluctuating.
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boakyei
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May 26, 2018, 08:27:17 AM |
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Keeping some of your pension funds in cryptocurrency is a great way to prepare for your pension without much sweat. Cryptocurrency has proven over time that it increases in value when hold for a long term, and savings a little amount of your disposable income to cryptocurrrency will in few years yield a good return.
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mysayuri87
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May 26, 2018, 08:35:09 AM |
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Before it to plan ,your basic moves is to acquire more knowledge and skills because the votalite price and unpredictable will guess game ,if you want to play some of your money ,,aside from that since is decentralised f your loss your money, is enough to say sorry for that,will not back again,
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-Sinner-
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May 26, 2018, 08:43:34 AM |
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Well, for the normal people that have a normal Job, surely it is an awesome move to put aside 10% atleast of their stipend and buy bitcoin/crypto for the retirement. I think at that as a (relativity)low risk and high reward for 20-30 years from now. And if you have some more money to spend, put another 5% for your children or familiars  |
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boblets243
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May 26, 2018, 08:53:39 AM |
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I came across a very nice experiment of one of my compatriots. He started to put up around $ 50 a month for pension. I will add that pensions in my country are low.
Description of the experiment:
"What is going on?
One of my many areas of interest are cryptocurrencies. There is a good chance that you have heard about bitcoin. A smaller chance that you know litecoin or dogecoin. If you want to know the technical side or economic cryptocurrency - use google. For the needs of my retirement, it is enough to know that cryptocurrencies act as cash in a modern version. They have their value (they are listed on the stock exchanges, they have their course), they can be safely stored, they can be sent immediately to any distance, practically free of charge and - with a little effort - they are anonymous. And they are today at the initial stage of development. Everyone who touches them is still an early employer, and this means that - with a high probability - a long-term investment in cryptocurrencies will be very profitable. I chose 4 cryptocurrencies for my retirement basket and gave them percentages indicating their presence in the basket. When making my choice, I based my own - already several years - experience in the cryptocurrency industry, the capitalization value of a given cryptocurrency (market cap) and the features that distinguish it from other coins on the market. And so I chose:
How much do I put aside? I did not want to set any fixed amount. Because you know - inflation, fluctuations in financial markets, etc. ... So I decided that the value of a monthly investment will depend on the minimum wage in Poland. In 2017, it is an amount of $ 540. And every month I invest 10% of this amount, that is 50 $. "
He has currently invested $ 1,600, and the rate of return since early 2017 is 1,600% = $ 27k.
It's a great idea, right?
The idea of setting aside for retirement purposes is perfect. But I am just hesitant on the idea of putting everything in crypto. Probably you need to look for other investments which has lesser risk and invest a portion with crypto. Yes, crypto has a higher returns among other investments. However, it has also the higher risk. So there is also a high change that everything will be lost. So better diversify to secure your retirement funds. |
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Kakmakr
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May 26, 2018, 09:01:03 AM |
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Just remember that Bitcoin is still highly experimental and a high risk investment. You cannot follow this strategy and think that it would be solid enough to carry you through to pensionable age. A lot of things might still happen, until your friend goes on pension. I will also adapt the strstegy a little bit, by only buying when the price is low. Do not simply buy, when you have fiat currency... wait for the price to drop and then buy.
You can keep that cash in your Bank account, until the price drop and then you buy a lot more, for the same amount.
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Dayan1
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May 26, 2018, 09:17:43 AM |
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I really want to stay at crypto currency world, it is really a nice investment and i can also say a field of work. During 3 years of my life ive been looking for a job that is suitable for students but i cannot find one, then my friend told me about bitcoin and now Im earning with this. In the near future I am hoping to stay at crypto world and I know I will because it will be our future
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mindrust
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May 26, 2018, 09:36:04 AM |
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Just remember that Bitcoin is still highly experimental and a high risk investment. You cannot follow this strategy and think that it would be solid enough to carry you through to pensionable age. A lot of things might still happen, until your friend goes on pension. I will also adapt the strstegy a little bit, by only buying when the price is low. Do not simply buy, when you have fiat currency... wait for the price to drop and then buy.
You can keep that cash in your Bank account, until the price drop and then you buy a lot more, for the same amount.
I think waiting isn't the best decision. I would advise you to make regular monthly investments instead. With this way, you'll be able to benefit from the price drops as much as the price hikes. I used to * invest %5-10 of my monthly income and I did it for nearly 1 year, maybe more. I also have great results by doing so. I am still holding my FIAT which I earned before and like you said above, I am not letting them go till btc goes a lot cheaper than what it is now ($1-2k cheap). Point of the story is; as long as you do it on a monthly basis instead of doing all-in all-out with all your savings you previously had, unless bitcoin gets completely destroyed somehow which is a small probability but still exists, you'll be fine. *I said I used to because since last 2-3 months I am now doing it with %100 of my monthly income. Achtung! Not recommended for everybody.  |
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googs84
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May 26, 2018, 10:16:27 AM |
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The story just tells me the moral that holding the bitcoin is best option all the time. Off course everyone here knows that holding BTC can give us heavy ROI in the future and that is why most of them do suggest it all the time. As of the retirement any mid age person if do start saving something in the BTC from today then also he can put almost more than 50K USD of his own savings and on top of that ROI from the bitcoin would be at least 5x of that as it is expected that BTC will always spike in the future. So yeah its good idea. |
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funchiestz
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May 26, 2018, 10:18:40 AM |
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If 1 million dollars is like the one Bitcoin said, then I can keep an eye on retirement. No pension until that time. A nice holiday, a phone or a computer. If I get lucky, maybe a car.
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Raggie
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May 26, 2018, 01:20:22 PM |
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Investing in bitcoin for your retirement day is not a bad idea.
as long as i know, cryptocurrency has been increased over the years.
if you plan to save bitcoin for your future, the value of your investment will be increased because you save in bitcoin.
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lyks15
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May 26, 2018, 02:59:50 PM |
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I think for me I will not choose to retired to my career to full time the bitcoin or crypto because all we know that crypto is not stable so I do not give my full trust to give up and to invest all the things that I have like my regular job because for me even the bitcoin is stable or not I will choose to have a multiple sorce of income as long as I can manage my time. It is hard to make a decision that you know you will regret. Always choose where you are secure and safe. I'm not saying that you need to be greedy but remember that you have a plans and goals to your life that want to achieve.
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Fafabol
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May 26, 2018, 03:13:30 PM |
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If i have a great numbers in bitcoin,i also eyeing on a great retirement.If you have a great numbers on bitcoin,there would be more assurance and financial stabilty.There we no worries about on how to survive in our daily life.In that matter,we can surely enjoy retirement at the specific time.Having a great retirement means not only having financial stability but also spending more quality time to our dearest loveones.
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hsyncl
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May 26, 2018, 03:15:25 PM |
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For retirement, the bitcoin should rise much more firmly. Also, if all the moves you make are correct, you will retire. It seems difficult to continue with movements like the last one.
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Skieleton (OP)
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May 27, 2018, 08:17:04 PM |
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Just remember that Bitcoin is still highly experimental and a high risk investment. You cannot follow this strategy and think that it would be solid enough to carry you through to pensionable age. A lot of things might still happen, until your friend goes on pension. I will also adapt the strstegy a little bit, by only buying when the price is low. Do not simply buy, when you have fiat currency... wait for the price to drop and then buy.
You can keep that cash in your Bank account, until the price drop and then you buy a lot more, for the same amount.
That's true but thanks to the risk you can get a very big yes? eras the price of niesety is not high and it is falling all the time but as for me it's a good one and it will be a good price. Now I would just invest. |
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timerland
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May 27, 2018, 08:59:10 PM |
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Without a doubt, any long term investment portfolio should have to include bitcoin in it, simply because it is a good store of value and is dissociated from the traditional banking sectors. And that's why a lot of investors, including myself, are involved in investing in bitcoin.
I would definitely say that putting away a sum of money each week or month into bitcoin, in order to save up for your retirement, is a good plan to have.
However, I would still diversify my portfolio simply because you don't have any source of income when you retire. If you don't diversify, then you're essentially relying on bitcoin to be in a bull market when you retire, which isn't always the case.
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