Bitcoin as a Retirement Bet

[aylabadia05]

Bitcoin is gaining a lot of popularity and there are people considering it as a retirement investment. How good is this?

The most important thing is to understand everything about Bitcoin first. Then the answer will be obtained whether it is good or not for retirement plans.
I feel that Bitcoin is a good retirement plan for one and many reasons that I don't need to explain here because I know enough. So before considering it good or not, find out all aspects about Bitcoin first, not just following its popularity.

[Yucky]

It doesn't look comforting for investor to buy x crypto project if majority of people look at it as a piggy bank where in the end they want to withdraw more money that they put into it.

this is the sad reality about the transition we've noticed with earlier Bitcoin users and what's at the minds of those buying Bitcoin now. No one is interested in talking about the potential that Bitcoin has outside of it volatility. It's now about how profitable investing into it can be for the long term. What's now the difference between Bitcoin and this other coin that's flying around the media space?

If all it is to it is "number goes up" then crypto opponents are right and it's nothing else than a pyramid scam.

like seriously! Every one is looking for where to keep is money and in the next year they see it doubling into a huge figure, is that what Bitcoin is created to solve? To just talking about it as a mere investment asset making so many new persons that are coming into the sector to assume that once you've invested into it you've signed your way to the place of financial liberation.

Bitcoin wasn't created to redistribute wealth, it suppose to be digital cash.

I know that along the line, it's not wrong to leverage on the volatile nature of Bitcoin but to be honest, if at the time that Bitcoin came into existence people were only told about it volatility like what's now common with today's users, I doubt it would have gained this value it has attained now.

So maybe stop hoarding it and actually use it because that's where the value is.

while this is theoretically relevant, in practice it doesn't have much use. You don't normally involve yourself in international transactions that will make it easy to use at the moment and you can't really use it to buy stuff in most part of the world so finding the best way to use Bitcoin on a more frequent bases would be quite deficult. What's easy to do is to hold it pending when it gets popular to the extent one can use it locally and since it has proven to have hard the ability to gain it worth overtime, it's also good to take advantage of that aspect of Bitcoin.

[MeGold666]

So maybe stop hoarding it and actually use it because that's where the value is.

while this is theoretically relevant, in practice it doesn't have much use. You don't normally involve yourself international transactions that will make it easy to use at the moment and you can't really use it to buy stuff in most part of the world so finding the best way to use Bitcoin on a more frequent bases would be quite deficult. What's easy to do is to hold it pending when it gets popular to the extent one can use it locally and since it has proven to have hard the ability to gain it worth overtime, it's also good to take advantage of that aspect of Bitcoin.

There are plenty of places where you can spend Bitcoin on common goods but the common notion in Bitcoin circles is that you should just hoard it.

Due to this the evolution of Bitcoin is impacted as well because it doesn't need to be digital cash anymore, it can just be a magic bean you buy, you bury it and it grows you money!

It's a recipe for disaster and only few understand it.

[siedemtrzy]

Bitcoin is gaining a lot of popularity and there are people considering it as a retirement investment. How good is this?

https://bitcoinics.com/bitcoin-as-a-retirement-bet/

Well, I plan to save at least some BTC for my retirement. I think that it's a great plan, it just has to be not the only investment.

[fuguebtc]

Bitcoin is gaining a lot of popularity and there are people considering it as a retirement investment. How good is this?

The most important thing is to understand everything about Bitcoin first. Then the answer will be obtained whether it is good or not for retirement plans.
I feel that Bitcoin is a good retirement plan for one and many reasons that I don't need to explain here because I know enough. So before considering it good or not, find out all aspects about Bitcoin first, not just following its popularity.

If it's not good , how can it become popular and gradually have more people invest in it? Clearly, the popularity of bitcoin shows that it is a good asset and worth considering for investment. But I agree with you, we need to take the time to study it. Just because it's good doesn't mean it doesn't have its drawbacks, so we should also take the time to research everything about bitcoin . And understanding it will also help us in the future, we will avoid panic when faced with its volatility. We should only invest in things we understand, don't invest in things we don't understand and just follow the crowd.

[Ultegra134]

Retiring through Bitcoin? Well, supposing that you've accumulated enough during the early days, certainly. It was far easier than it is now. Bitcoin currently costs an approximate $65,000; acquiring a single coin now is almost impossible for the average Joe, and you're going to need a lot more than that if you're planning to retire solely on Bitcoin. There's no direct answer to your question; it depends on a series of questions such as at what age are you planning to retire, and most importantly, how much money are you estimating to be enough for the rest of your years, and how are you planning to use it?

Moreover, this begs the question, are you willing to risk your retirement on a volatile and high risk investment? I don't think it's a good idea, despite Bitcoin's movements so far.

[MeGold666]

Retiring through Bitcoin? Well, supposing that you've accumulated enough during the early days, certainly. It was far easier than it is now. Bitcoin currently costs an approximate $65,000; acquiring a single coin now is almost impossible for the average Joe, and you're going to need a lot more than that

Didn't you heard ? Bitcoin is going to $8 Million! all you have to do is STOP using it.

https://bitcointalk.org/index.php?topic=5500210.msg64231013#msg64231013

Bitcoin is missing the biggest market of them all, being money.
And all because celebrities and companies lured uneducated fools into believing that being digital gold is better than being digital cash.



My mistake! 

[mirakal]

Bitcoin is gaining a lot of popularity and there are people considering it as a retirement investment. How good is this?

https://bitcoinics.com/bitcoin-as-a-retirement-bet/

Bitcoin has been known for its profit potential and anyone who considers this as their retirement plan is not a bad idea but of course, I won't say they must put everything into bitcoin. Still better to put some percentage in the banks and another share into another investment. Why? We consider the risk of the marker because even though we know how profitable it is but granting that we don't have assurance for its long-term stay at least we secure some money on other investments. Ideally, that is the best thing to in our money as we can't put all the eggs in one basket. We just think about funds security and we no longer have to commit mistakes as much as possible because this might be the last money we receive in our entire life.

[DyllanGM]

For me, bitcoin as a retirement investment can be both exciting and risky. On one hand, it's gained a lot of value over the years and offers high growth potential. But on the other hand, it's super volatile and can lose value quickly.

For retirement, it's usually smart to have a diverse portfolio to spread out risk. So, putting a small percentage in Bitcoin might be okay, but relying heavily on it could be risky. Still, balancing it with more stable investments is key.

[GbitG]

Bitcoin is gaining a lot of popularity and there are people considering it as a retirement investment. How good is this?

https://bitcoinics.com/bitcoin-as-a-retirement-bet/

Hmm that true mate!
But I don't see anything wrong with it as long as the person isn't completely relying on Bitcoin for their retirement investment or plan because you can't put all your eggs in one basket. No matter how good Bitcoin is, at the end of the day, it's a cryptocurrency and it only has a digital existence, and we know it has an extremely volatile nature, so we can't be sure where its price would be in the future and when we say it is going to have a great value, we are only speculating.

So according to me, a person should invest in Bitcoin and keep it for the distant future if they can afford to do that, but they should invest everything they have only in Bitcoin and they should diversify their investment portfolio in multiple options so that if one of them doesn't work out, other options should be able to cover it.

[legendbtc]

Retiring through Bitcoin? Well, supposing that you've accumulated enough during the early days, certainly. It was far easier than it is now. Bitcoin currently costs an approximate $65,000; acquiring a single coin now is almost impossible for the average Joe, and you're going to need a lot more than that if you're planning to retire solely on Bitcoin. There's no direct answer to your question; it depends on a series of questions such as at what age are you planning to retire, and most importantly, how much money are you estimating to be enough for the rest of your years, and how are you planning to use it?

When we talk about bitcoin and retirement, it doesn't mean we have to put all our retirement assets into bitcoin, bitcoin is just one of many assets that we invest in (Don't put all your eggs in 1 basket.)

I know everyone has a different retirement plan because we need to consider many factors involved but I wanted to ask you. Bitcoin is considered the best profitable asset these days and even if bitcoin cannot give you the best retirement days, what alternative will you choose to replace it?

Moreover, this begs the question, are you willing to risk your retirement on a volatile and high risk investment? I don't think it's a good idea, despite Bitcoin's movements so far.

I think bitcoin has become a lot safer because many countries have legalized it and bitcoin ETFs have been approved. So I don't think it's appropriate to call it a risky asset these days if you intend to invest in it for the long term. Bitcoin has become much safer legally, and in terms of its volatility there will only be short term risks but in the long term I think it is risk free.

[stadus]

Bitcoin is gaining a lot of popularity and there are people considering it as a retirement investment. How good is this?

https://bitcoinics.com/bitcoin-as-a-retirement-bet/

As what the articles has laid out, there are a lot of pros and cons putting all our retirement money into Bitcoin and I think everyone should now about it. So maybe the best approach is just like 50% of it into Bitcoin and then the rest spread out across several assets and then you should also have some funds in your bank in case of emergency. So there's nothing wrong with Bitcoin, and it could be the best asset in the world, but retirement money is retirement money, you have work hard for it doing jobs that you may or may not like and you don't want to lose it everything.

Truth be told, bitcoin has certainly its set of advantages and disadvantages. And while it can be considered a good retirement, but I don’t think it’ll be a wise idea to focus only in bitcoin, but should diversify our investments so that in the end, we will gain multiple profits. That way, our retirement will be more secured than just relying solely in bitcoin. However, we can prioritize bitcoin over other investments and put a bigger allocation for it, knowing its potential profits is higher than other forms of investment.

[ultrloa]

Bitcoin is gaining a lot of popularity and there are people considering it as a retirement investment. How good is this?

https://bitcoinics.com/bitcoin-as-a-retirement-bet/

Bitcoin could be a good option since we know that value would increase over the time, but the person who bet their retirement on their bitcoin investment should consider also the possible flaws. Since if they invest all their money and doesn't have any back up plan then the market collapsed so bad there would be a chance that you will lose all your money then you live a miserable retirement life. So have back up plan and set only the amount you can afford to spend on your investment for future. Also try to find multiple income streams while you are still capable so that there would be no problems or troubles will happen by the time we reach into that condition. Life at retirement is so hard that's why its important for us to prepare on that situation and don't do risky things that can possibly put us on huge risk.

[JoyMarsha]

Even though Bitcoin seems to be a good retirement plan for crypto investors, I don't think it's a pretty wise idea to have your future savings in a volatile asset that is currently on the high side($65k), which normally experiences an increase and decrease in its four-year circles of halving season, that nobody knows what each year holds for the price of bitcoin, whether profits or loss since it is expected that the crypto market to experience bearish and bull run in every four years circle. However, why can't one invest in the bearish market preferably and sell during the bull run? It's pretty much better that way than having a long-year retirement in bitcoin.

[Maus0728]

I don't think that bitcoin alone is a good retirement investment given how volatile the prices are and how crazy the prices can move, you shouldn't put all of your retirement money in bitcoin because you're going to end up making a big mistake, some traditional retirement investments are still a big deal in bitcoin so I'm not sure that a total abandon of them are the best thing, make bitcoin a part of your investment not your entire investment plan. Also, people that are saying that there's nothing wrong about investing in bitcoin for your retirement will probably do a bandwagon change when the price of bitcoin begins tanking.

[retreat]

The idea of ​​making Bitcoin a retirement investment is quite good, seeing how Bitcoin has performed in recent years and what its potential is in the future. However, this must also be accompanied by investment in other instruments, because putting your money in just one basket is not recommended, especially as Bitcoin is quite volatile, one must understand this. And also good knowledge in how you can store your assets and how you secure them is also something to consider - it's safer to put your money in a non-custodial wallet and consistently invest your money in bitcoin.

[Gaza13]

For me, bitcoin as a retirement investment can be both exciting and risky. On one hand, it's gained a lot of value over the years and offers high growth potential. But on the other hand, it's super volatile and can lose value quickly.

For retirement, it's usually smart to have a diverse portfolio to spread out risk. So, putting a small percentage in Bitcoin might be okay, but relying heavily on it could be risky. Still, balancing it with more stable investments is key.

Fluctuation in investing is something that is commonplace, investing is full of risk. It's best before you invest your money in Bitcoin, at least you should study the asset first. If you are sure, in my opinion, there's no harm in putting it in with a small percentage first at a young age. If you have progress in your investment, there's no harm in putting it in. more than before. Indeed, looking at its journey or track record during its initial launch, this asset has had very significant growth over a long period of time.

[Rengga Jati]

Bitcoin is gaining a lot of popularity and there are people considering it as a retirement investment. How good is this?

https://bitcoinics.com/bitcoin-as-a-retirement-bet/

If it's partial, that's possible. but if all the assets are transferred to Bitcoin, No.
Investment in Bitcoin is indeed increasingly popular. And I personally also really believe that Bitcoin will have a much higher asset value in the future.

However, if all this is done in totality in investment, I think, we must still consider investing our money in several ways, and of course it is also more important to invest some of it in real life. So the point is, it's in funds and risk management, by diversifying the money into several trusted and reputable assets.

Bitcoin Retirement:

https://www.ccn.com/bitcoin-retirement-volumes-at-all-time-highs-reveals-bitcoin-ira-ceo/

For me, I am not yet taking it into a retirement, but I'm making it as one of the ways to prepare my children education fees in the future.  

And the important point when we want to use our money to invest in Bitcoin as a retirement investment is that we also have to know the market patterns. This will depend on when we should buy or start buying so that the purchase is not classified as a very high price.

[Aanuoluwatofunmi]

Bitcoin is gaining a lot of popularity and there are people considering it as a retirement investment. How good is this?

One of the reason you could discover for this whereby many people are considering the use of bitcoin for their retirement plan is because of the future benefits in it which is promising, unlike the way they have been seeing others getting retired from the way government regulate the whole system with the pension boards and they have no much benefits sin this than the hostility of their pension funds and some never wait to eat from their investment before they left, bitcoin has come to make amends in all these, one can start earning from his retirement fund as soon as possible after his investment in bitcoin, despite all these, there is still hope for them to have a secured and profitable future in bitcoin than when its in fiat.

[Blitzboy]

Bitcoin's decentralization is its foundation. It has no government or bank ties. Its not subject to their traditional methods like printing money and inflating. But there's more. Its about philosophy. It challenges our money beliefs. Bitcoin values transparency and independence.

Yes, Bitcoin fluctuates. Life is too, right? As in life, taking risks can pay off. Bitcoin may provide you more financial control. Using Bitcoin for retirement? Not only a smart financial move. A life decision. Buddhists teach taking charge. Be independent and make your own way. This mindset leads to life and retirement success.