TookDk
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One coin to rule them all
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March 07, 2016, 05:57:34 PM |
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yes we should think of the smallest price. because after 20 years we do not know what will happen next.
but I think at least the price of bitcoin will not be back again under $10 or even under $100.
Satoshi said that we would either have very large transactions volumes or no volume in 20 years (said in 2010, see ref.). So it is a win or loose scenario, either will be bitcoin be useful and worth a lot or not useful and not worth anything. Right. Otherwise we couldn't have a finite limit of 21 million coins, because there would always need to be some minimum reward for generating. In a few decades when the reward gets too small, the transaction fee will become the main compensation for nodes. I'm sure that in 20 years there will either be very large transaction volume or no volume.
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Cryptography is one of the few things you can truly trust.
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Even in the event that an attacker gains more than 50% of the network's
computational power, only transactions sent by the attacker could be
reversed or double-spent. The network would not be destroyed.
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HostSurf
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March 08, 2016, 10:32:04 AM |
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yes we should think of the smallest price. because after 20 years we do not know what will happen next.
but I think at least the price of bitcoin will not be back again under $10 or even under $100.
Satoshi said that we would either have very large transactions volumes or no volume in 20 years (said in 2010, see ref.). So it is a win or loose scenario, either will be bitcoin be useful and worth a lot or not useful and not worth anything. Right. Otherwise we couldn't have a finite limit of 21 million coins, because there would always need to be some minimum reward for generating. In a few decades when the reward gets too small, the transaction fee will become the main compensation for nodes. I'm sure that in 20 years there will either be very large transaction volume or no volume.
you will never know what will happen with Bitcoin and what the value will be, so that will be not good. But you will need a lot of coins. Because the value will always change and that is not good. Your life will depend on a currency and that is very bad. |
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aardvark15
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March 08, 2016, 11:45:12 AM |
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10 bitcoins could be enough to retire on 20 years from now, but we better not count on that. We don't know the future of it yet.
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ausbit
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Merit: 1019
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March 08, 2016, 11:55:18 AM |
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yes we should think of the smallest price. because after 20 years we do not know what will happen next.
but I think at least the price of bitcoin will not be back again under $10 or even under $100.
Satoshi said that we would either have very large transactions volumes or no volume in 20 years (said in 2010, see ref.). So it is a win or loose scenario, either will be bitcoin be useful and worth a lot or not useful and not worth anything. Right. Otherwise we couldn't have a finite limit of 21 million coins, because there would always need to be some minimum reward for generating. In a few decades when the reward gets too small, the transaction fee will become the main compensation for nodes. I'm sure that in 20 years there will either be very large transaction volume or no volume.
you will never know what will happen with Bitcoin and what the value will be, so that will be not good. But you will need a lot of coins. Because the value will always change and that is not good. Your life will depend on a currency and that is very bad. Either we need fiat to take care of us at the time of retirement but we know that the inflation rate at that time would be much higher, so if we have descent amount of bitcoins then it can take care of us in best way as the price keeps on moving up and down so if the price is higher even the small amount of bitcoins can serve the purpose. |
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MaritiJames3
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March 08, 2016, 12:05:04 PM |
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Well you will need a lot of bitcoin to do this because you will never know what the bitcoin will do.
I think its pretty unpredictable and difficult to say how much bitcoins you will need.
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eddyubachs
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March 08, 2016, 02:58:32 PM |
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Well you will need a lot of bitcoin to do this because you will never know what the bitcoin will do.
I think its pretty unpredictable and difficult to say how much bitcoins you will need.
Exactly what exact amount of bitcoin can take care of us in future as we don't know what would be the price of bitcoin in future, its better that we hold a good number of bitcoins so even if the price fall down, holding good number of bitcoin will do the rest. |
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BeGoods
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Merit: 1008
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March 08, 2016, 03:18:56 PM |
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Atleast you need to hold 100 bitcoins to have a comfort life after 20 years of saving. This is just a prediction, everything depends on the price of bitcoin. Lets hope for a good price in the future so to have much better life.
If the bitcoin doubles every year in the next 20 years, the price will be 1 million times of the present value. You just need 0.01 coins. comfortable life in the future would require a very big money. because every year the price of necessities such as food and clothing are always rising. we assume bitcoin prices will reach $ 1,500 in 20 years to come. it was reasonable for the price in 20 years. so if you only collect 100 BTC was only about $150,000. I thought it was too small |
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adibe
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March 08, 2016, 03:22:48 PM |
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Atleast you need to hold 100 bitcoins to have a comfort life after 20 years of saving. This is just a prediction, everything depends on the price of bitcoin. Lets hope for a good price in the future so to have much better life.
If the bitcoin doubles every year in the next 20 years, the price will be 1 million times of the present value. You just need 0.01 coins. comfortable life in the future would require a very big money. because every year the price of necessities such as food and clothing are always rising. we assume bitcoin prices will reach $ 1,500 in 20 years to come. it was reasonable for the price in 20 years. so if you only collect 100 BTC was only about $150,000. I thought it was too small Yes i agree with your point. If you want retire in 20 years i think you need many bitcoins for getting rich and comfortable life on that year. Maybe around 100bitcoins ++. |
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kacak41
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March 08, 2016, 04:40:27 PM |
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Atleast you need to hold 100 bitcoins to have a comfort life after 20 years of saving. This is just a prediction, everything depends on the price of bitcoin. Lets hope for a good price in the future so to have much better life.
If the bitcoin doubles every year in the next 20 years, the price will be 1 million times of the present value. You just need 0.01 coins. comfortable life in the future would require a very big money. because every year the price of necessities such as food and clothing are always rising. we assume bitcoin prices will reach $ 1,500 in 20 years to come. it was reasonable for the price in 20 years. so if you only collect 100 BTC was only about $150,000. I thought it was too small Yes, and I think that is the good amount of hold, even if the price is not in millions, still 100 btc can take care of us in the best possible way, so it would be good if we hold that amount in our wallet. Yes i agree with your point. If you want retire in 20 years i think you need many bitcoins for getting rich and comfortable life on that year. Maybe around 100bitcoins ++. |
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jchst
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March 08, 2016, 08:28:42 PM |
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Holding an ammount between 150btc and 300 btc should be enought to retire and have a good life without have any problem and well maybe not enought to buy a new car or house but enought to pay all you need till you die.
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MaritiJames3
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March 08, 2016, 08:41:35 PM |
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You will need a lot of bitcoins to retire in 20 years so that is one if the reason why its difficult.
Also to have a lot of bitcoins you will need to invest a lot of money and that is also hard to do.
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randy8777
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March 08, 2016, 08:51:17 PM |
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You will need a lot of bitcoins to retire in 20 years so that is one if the reason why its difficult.
Also to have a lot of bitcoins you will need to invest a lot of money and that is also hard to do.
keep in mind that those who are working are already building up retirement money. everything you manage to gain in bitcoin will come on top of that. see it as a great extra source of money for when you need it. it also depends on where you live. if you live in europe you will of course need quite a high amount compared to when you live in south america for example. collecting coins to use as retirement money will cost you a lot money at these prices, but it will be worth it as the price will increase steadily throughout the years. |
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angryrob
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March 08, 2016, 08:59:53 PM |
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I think we should also be prepared with the worst scenario that may happen in future that the price of bitcoin remains low and for that we need to hold maximum number of bitcoins so that it can take care of us even if the price is not too high.
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diegz
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March 09, 2016, 09:25:25 AM |
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I think we should also be prepared with the worst scenario that may happen in future that the price of bitcoin remains low and for that we need to hold maximum number of bitcoins so that it can take care of us even if the price is not too high.
That is true, it would be better if we would collect as many coins as we can, aside from that, it would be much better if we would enroll ourselves in retirement pensions with fiat, just to make sure if our dreams about bitcoin won't materialize after 20 years.. |
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bitcoin-hunter
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March 09, 2016, 09:35:07 AM |
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You will need a lot, because you never know what the value will be after a few years. The value can be very low and that will be not good.
But the value can also be very high and that is very good. But you life will depend on Bitcoin and that will be not good.
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pneumatic5
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★Bitvest.io★ Play Plinko or Invest!
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March 09, 2016, 10:05:01 AM |
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You will need a lot, because you never know what the value will be after a few years. The value can be very low and that will be not good.
But the value can also be very high and that is very good. But you life will depend on Bitcoin and that will be not good.
Its always good to invest your money in multiple products, because if you depend only on bitcoins, and if it fails, then you loose everything, and you don't have an option to invest after 20 years. |
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greghansel89
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March 09, 2016, 12:42:20 PM |
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You will need a lot, because you never know what the value will be after a few years. The value can be very low and that will be not good.
But the value can also be very high and that is very good. But you life will depend on Bitcoin and that will be not good.
Its always good to invest your money in multiple products, because if you depend only on bitcoins, and if it fails, then you loose everything, and you don't have an option to invest after 20 years. Investing on different companies to grow you bitcoin is essential. You will be needing maybe about 300-500 bitcoin with that amount i think you will live a happy life. |
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ronaldinho_07
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March 09, 2016, 12:50:55 PM |
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You will need a lot, because you never know what the value will be after a few years. The value can be very low and that will be not good.
But the value can also be very high and that is very good. But you life will depend on Bitcoin and that will be not good.
Its always good to invest your money in multiple products, because if you depend only on bitcoins, and if it fails, then you loose everything, and you don't have an option to invest after 20 years. Sure we must diverse our portfolio but the main investment and the most safe currently is bitcoins others altcoins will grow a bit but you never know how long they will last. |
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Gwerrahar
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March 09, 2016, 12:55:06 PM |
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You will need a lot of Bitcoins I think. The value will always so that is the problem. Sometimes you are poor and sometimes you are rich.
And that is not good. Then your life will depend on a currency and that is not good.
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leowonderful
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Bitcoin FTW!
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March 09, 2016, 12:58:05 PM |
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Lets say I want to buy bitcoins today and store them for 20 years to use a my retirement fund. Live comfortably, but don't need to buy a yacht or anything. How many do you think I would need to buy?
then buy millions of bitcoin. because no one know that after 20 years. what will happen bitcoin. may it will disapear or not worth a single pinny. Of course by buying that much btc, you will pump the price on exchanges and make bitcoin worth more. Most currencies are volatile, but the markets of bitcoin is that x9001. It's a make or break market, and with the current trends bitcoin is going to stay at 300$ for a while with my current estimates. I'm way off most of the time so don't take it to heart ;c |
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