Bitcoin retirement account

[Silberman]

What do you people think about bitcoin retirement accounts? I think it is cool and can also increase bitcoin adoption.
Although, we should still remember that bitcoin is meant to be a privacy coin, not your private key not your bitcoin.

If you take the time to read some books about investments you will see that there is a big difference in the way your investments are treated depending on your age, if you're young then you can take more risks and this is because even if you happen to invest during a cycle of the market which is not positive you have many decades to recover, so in that case I think it is a good idea for people to invest in bitcoin in order to have a more comfortable retirement, but if the person is old there is not enough time to recover so I will not recommend investing in bitcoin for those kind of people that are so close to their retirement.

[1715650902]

1715650902

[1715650902]

1715650902

[1715650902]

1715650902

[1715650902]

1715650902

[drlukacs]

Bitcoin has two major advantages:

1. Privacy, in a way we can save our bitcoin unknown to theives if all creteria for safety is considered and applied.
2. Appreciative money or asset that is not at all in any form vulnerable to central authority manipulations, and completely decentralized.

Some organizations are offering this type of service now in which you can be able to save usually 10% or more of your earnings into the retirement account, some other cryptocurrencies are also offered like ether, litecoin and bitcoin cash. I believe this type of bitcoin investment plan lacks privacy, but I think it is cool as the fiat paid lacks privacy already but the main advantage is that bitcoin being a deflationary currency will be best for this kind of account unlike fiats that will still appreciate over long time period, bitcoin will only appreciate (increase in price over a long time period.

What do you people think about bitcoin retirement accounts? I think it is cool and can also increase bitcoin adoption.
 

This is really a very good strategy to help retirees have a safe life without fear of inflation in their savings. An excellent plan to secure employee assets and facilitate Bitcoin to grow stronger in the coming years. Retirement funds usually hold a lot of money, so if this plan is approved by the government, the price of Bitcoin will soon reach $ 100k in the near future.
Bitcoin is actually showing its value, while fiat money is useless because banks run bad policies.

[blockman]

I'll choose to keep it to myself. I don't want any other third party service to intervene and take my bitcoins into their retirement accounts. By having our own wallets, we can have it and just deposit anytime we want. No third party and as long as you have the seed or private keys, you're holding your bitcoins. Not with those platforms, they are the ones that have full control with your deposits. I've already heard some folks that are using bitcoin as their retirement plan. Whatever the price will be, they are already in profit and will keep any amount that it will show in the future.

[tbterryboy]

In my country there are companies that are offering this kind of service, retirement plans for workers where they will be saving up money for their retirement, I have also seen banks that are doing the same thing.

But not everybody is able to do this, especially when you’re living in a country where the economy is very bad, a lot of people don’t earn much and you have to spend that money on very important things and expenses before talking about saving for a retirement plans, that’s why most would retire and have nothing, and as for government workers they are always promised pensions which are never paid most of the times.

This is a good idea, people should always prepare themselves ahead of time and Bitcoin is a good way to do that.

[Genemind]

Insurance is a good investment, however, cryptocurrency as a retirement account is not ideal because of volatility. Just imagine the time you have bought insurance the value is high and when the time your insurance matures the price dropped massively. Keep your bitcoin if you want to have some in the future, no need for a third party ro handle it for you.

[Karartma1]

My monthly DCA accumulating strategy (regardless the price) is my bitcoin retirement account. Ok, giving this option to the general public would foster adoption but I prefer to be in charge of my wealth.
The whole concept of a retirement account is obsolete anyway: what if you own a fortune accumulated in a retirement account that you can't touch until you meet certain specific conditions (age, unexpected expenses etc.)? That's not for me.

[plvbob0070]

Bitcoin is volatile so it's kinda risky to put your retirement funds on it since older people only depend on it for their daily expenses. Let's say, I will start putting my retirement funds in bitcoin, it will take me decades before I can use it and we are not even sure what would be the price of bitcoin at that time. This idea of bitcoin retirement accounts is new but I personally prefer saving my pension in fiat since it's more stable than bitcoin. I think that a lot of people won't want to risk their pension since that's where they will rely on their future when they grow older.

[xSkylarx]

Some organizations are offering this type of service now in which you can be able to save usually 10% or more of your earnings into the retirement account, some other cryptocurrencies are also offered like ether, litecoin and bitcoin cash. I believe this type of bitcoin investment plan lacks privacy, but I think it is cool as the fiat paid lacks privacy already but the main advantage is that bitcoin being a deflationary currency will be best for this kind of account unlike fiats that will still appreciate over long time period, bitcoin will only appreciate (increase in price over a long time period.

What do you people think about bitcoin retirement accounts? I think it is cool and can also increase bitcoin adoption.
Although, we should still remember that bitcoin is meant to be a privacy coin, not your private key not your bitcoin.

I don't agree with this concept. Bitcoin is very volatile, you can't guarantee it's value by the time when you retire. Bitcoin is our own bank so we have a freedom how much and when we will put some money to it. Like what I'm doing, I've been accumulating bitcoin since 2013 if I have some extra money from my salary hoping that it will secure my future when I can't work anymore.

[CyberKuro]

Fiat currency is a perfect choice for pension funds, not only because its value is stable despite enduring devaluation but it is easy to transfer and use at any time in the future for the elderly. Imagine if someone someday has to withdraw bitcoin as a pension fund that supposes to worth $85k-$100k in fiat but instead, it worth $20k because at that time bitcoin encountering crash, yes it may the other way around yet we don't know what will happen in the future with a volatile currency.

[Charles-Tim]

Also, why would you choose to buy bitcoin through a retirement plan (presumably with fees) when you could just buy it outright and keep it in your own possession?  I don't know, I'm not a big fan of the idea.

I was thinking it could help bitcoin adoption, but following it does not fulfill some of the bitcoin usage purposes, especially privacy. Anyone following this plan will lack privacy while dealing with bitcoin in one way or the other. The best way to go is to get a reputed wallet like trezor or ledger nano securing the bitcoin ourselves. People that should deal with bitcoin should be experienced enough to handle a wallet and avoiding hackers. If all criteria to hold bitcoin safely are intact, I believe it is the best way to go, I totally agree with you.

I was thinking some people working in offices may not know about bitcoin but know about the investment plan, but it is custodial and nothing about it is similar to bitcoin self custody, and I later have to understood that knowing about bitcoin itself totally in term of price fluctuation and safety is the best way to guide oneselves into having bitcoin retirement account or not, which is not even an account but a bitcoin noncustodial wallet for holding as advised.

[davinchi]

Well, that is the thing about adoption in crypto, you and I may not like it because we are already in it, and I get that if you do not really put everything into one basket you could be interested in this, and we are talking about people who are not really good with tech who may get interested in this, however at the end of the day there are not that many people who really would use this.

So what we have here is something not crypto people will use, and not many non-crypto people will use neither, but that very few non-crypto people who will use will mean a small amount of adoption increase for bitcoin. That is why we should support these, even though they are not things we would want to use and can find million features that can be improved, as long as they help the crytpo economy we should just be supportive.

[Lucius]

As someone who understands what Bitcoin is, I think I would never use a service like this because I am fully capable of keeping my BTC in my own bank and thus trying to secure better retirement days. However, I fully understand that there are people who have little or no understanding of technology and this type of investment is very desirable for them - although they should certainly be explained all the benefits and risks that come with investing in Bitcoin.

As we could see things are evolving in that direction because US Firm Launches Company-Sponsored Bitcoin Retirement Plans, and I have no doubt at all that there will be interest in such a service which will of course increase more and more in the future.

It is logical that not all those who think that Bitcoin is primarily a currency will like this idea, or those who think that this way of using BTC will lose its primary purpose - but we cannot forbid anyone to invest in Bitcoin and do whatever it wants with it.

[bitbollo]

It's a step forward for mass adoption. At least...free promotion for all cryptocurrencies  !
I think that these service are good just for newbie on this field or people that really have not care about finance.
From my perspective everyone here is already trying to build a "retirement" with bitcoin...

[poodle63]

I don't honestly think that crypto or anything that's too volatile should be used for retirement. It's just not suitable. Even the retiremend fund purpose in the first place is to ensure our economy in old age. At that point we already got too tired with finding money and just want peaceful time with economy stability. It's just doesn't make sense since it negates the purpose of retirement or pension fund.

But maybe if the fund is managed by some professional it could be a good option otherwise just forget it because it's too risky.

[Gotumoot]

Bitcoin savings for your early retirement?
I don't think that everyone would agree to it but I would accept it if I could save enough with it till I grow old.
Just imagine saving some $ daily just like spending it on coffee or cigarettes even in small amount then convert it into BTC weekly or monthly and let it sleep.
Do it for years until you retire who knows how much you could have.
But I got to be honest it is very risky and instead of relaxing and enjoying your time this could be stressful if couldn't save enough money.

[usekevin]

I believe employees in all countries would have this type of investment plan in a way there would be companies rendering services in which the employee would be saving 10% or more of his/her salary into retirement account. This type of investment would be tax free and I believe this is how it supposed to work in all countries. Normally, people save fiats into retirement account, and as we know that fiats are fully vulnerable to governmental manipulations which can result to fiats value depreciation/devaluation.

Bitcoin has two major advantages:

1. Privacy, in a way we can save our bitcoin unknown to theives if all creteria for safety is considered and applied.
2. Appreciative money or asset that is not at all in any form vulnerable to central authority manipulations, and completely decentralized.

Some organizations are offering this type of service now in which you can be able to save usually 10% or more of your earnings into the retirement account, some other cryptocurrencies are also offered like ether, litecoin and bitcoin cash. I believe this type of bitcoin investment plan lacks privacy, but I think it is cool as the fiat paid lacks privacy already but the main advantage is that bitcoin being a deflationary currency will be best for this kind of account unlike fiats that will still depreciate over long time period, bitcoin will only appreciate (increase in price over a long time period.

What do you people think about bitcoin retirement accounts?
Although, we should still remember that bitcoin is meant to be a privacy coin, not your private key not your bitcoin.

Ysing bitcoin as an retirement tool will be a good idea.But their may be a pump and dump in bitcoin price. Just 24 hours is enough for the bitcoin to reduced 2500$ and it happened today.So it had a advantage and disadvantage. The retired person may lose his private key with his old age. It may forced him to lose all of his retirement funds and it hurt him double.

[CODE200]

I believe employees in all countries would have this type of investment plan in a way there would be companies rendering services in which the employee would be saving 10% or more of his/her salary into retirement account. This type of investment would be tax free and I believe this is how it supposed to work in all countries. Normally, people save fiats into retirement account, and as we know that fiats are fully vulnerable to governmental manipulations which can result to fiats value depreciation/devaluation.

Bitcoin has two major advantages:

1. Privacy, in a way we can save our bitcoin unknown to theives if all creteria for safety is considered and applied.
2. Appreciative money or asset that is not at all in any form vulnerable to central authority manipulations, and completely decentralized.

Some organizations are offering this type of service now in which you can be able to save usually 10% or more of your earnings into the retirement account, some other cryptocurrencies are also offered like ether, litecoin and bitcoin cash. I believe this type of bitcoin investment plan lacks privacy, but I think it is cool as the fiat paid lacks privacy already but the main advantage is that bitcoin being a deflationary currency will be best for this kind of account unlike fiats that will still depreciate over long time period, bitcoin will only appreciate (increase in price over a long time period.

What do you people think about bitcoin retirement accounts?
Although, we should still remember that bitcoin is meant to be a privacy coin, not your private key not your bitcoin.

Ysing bitcoin as an retirement tool will be a good idea.But their may be a pump and dump in bitcoin price. Just 24 hours is enough for the bitcoin to reduced 2500$ and it happened today.So it had a advantage and disadvantage. The retired person may lose his private key with his old age. It may forced him to lose all of his retirement funds and it hurt him double.

Still a good option but I would choose an investment wherein I will be more in control of the profit, more likely real estate business to which I would be able to manipulate the profit. Unlike on sole investments wherein you will depend on the market itself to how profit will be earned. Ofcourse analysis to both instances are needed but what I am pointing out is an investment wherein you could control the loss and profit at the same time, as well as being able to boost the profit.

[Lordhermes]

I have thought of this for many times now and I can't just figure out how this could be operated, now a worker should get  retired in her country job and would be paid in her Fiat currency, it would be left for her to buy crytocurency with some plan percentage from her total salary amount, on the other hand, if there is an available Jobs that pays out bitcoin in some specific country, then the retirements salary would be in bitcoin which is a cool and perfect one thereby reduces depreciation of value occurrence.
In this case, the knowledge of using cryptocurrency should be taught to old ages because they are ones at their retirement age now.

[yhiaali3]

The idea in general looks beautiful, it is nice to have a retirement account in Bitcoin, especially if we remember that the price of Bitcoin was a few dollars ten years ago and now the price of Bitcoin is about  18,000$, if we think the same way and imagine how much the price of Bitcoin will be when we go into retirement After about 10 or 20 years, we'll find the idea very attractive.
I prefer to do this idea in my own wallet and not through a third party, because as everyone knows, if you do not have your private key, this means that you do not own your coins and therefore there is a risk that you will lose Bitcoin and therefore it is better to keep it in your own wallet.

[CarnagexD]

Insurance is something you have in case of a mishap. By the way you are putting bitcoin into the picture, it's like you're telling us that bitcoin is a good insurance plan, which is clearly isn't. One big reason, it's not stable. For your insurance to be effective, it has to test the weather of time, bitcoin may indeed be able to do this, but imagine you in your 70s learning that the bitcoins you invested in are now 30% less valuable than when you started with them, I can only visualize the emotions you will have by then.