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Crindon (OP)
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August 03, 2014, 07:48:05 PM |
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In your opinion how many Bitcoins would someone need today in order to retire by August 03 2019 or Aug 03 2020?
Assume average North American, requiring $30,000 per year of today's purchasing power, no other debt.
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franky1
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Activity: 4200
Merit: 4447
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August 03, 2014, 07:58:32 PM |
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In your opinion how many Bitcoins would someone need today in order to retire by August 03 2019 or Aug 03 2020?
Assume average North American, requiring $30,000 per year of today's purchasing power, no other debt.
short answer: enough..... after all whats the point in having 100btc at $10k each (today $10mill sounds alot), if in 5 years time it costs $1000 for a loaf of bread (do i need to quote the Zimbabwe dollar?) today $30k sounds enough for a healthy lifestyle per year, but soon it may only buy you bread for 7 months |
I DO NOT TRADE OR ACT AS ESCROW ON THIS FORUM EVER.
Please do your own research & respect what is written here as both opinion & information gleaned from experience. many people replying with insults but no on-topic content substance, automatically are 'facepalmed' and yawned at
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oceans
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August 03, 2014, 08:08:19 PM |
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I believe it's really to hard to tell to be honest as you never know how much bitcoins will be worth within 5 - 6 years and whether it would be worth retiring or not on what you have invested in.
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Beliathon
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August 03, 2014, 08:29:52 PM
Last edit: August 03, 2014, 09:21:49 PM by Beliathon |
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In your opinion how many Bitcoins would someone need today in order to retire by August 03 2019 or Aug 03 2020? How old are you? Male/female? Any congenital diseases? Smoker/non-smoker? Any children? Plan to have children? Have any fiat savings? Anyway, assume 500,000 $usd per BTC by 2020 and do the math yourself. Less than 0.1 BTC per year * number of years you expect to live. |
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jonald_fyookball
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Core dev leaves me neg feedback #abuse #political
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August 03, 2014, 09:09:44 PM |
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In your opinion how many Bitcoins would someone need today in order to retire by August 03 2019 or Aug 03 2020?
Assume average North American, requiring $30,000 per year of today's purchasing power, no other debt.
200 BTC. my reasoning. By that time, Bitcoin could be worth $5000. so that gives you 1 million dollars, or 33 years. Bitcoin should continue to appreciate though, so you'll actually get more. |
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InwardContour
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August 03, 2014, 09:17:01 PM |
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100 btc will be enough for retirement in 4-5 years but if you wait 2020, after the second btc halving from now, maybe with 50 btc you will live peacefuly untill heaven/hell.
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Biodom
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August 03, 2014, 09:39:49 PM |
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100 btc will be enough for retirement in 4-5 years but if you wait 2020, after the second btc halving from now, maybe with 50 btc you will live peacefuly untill heaven/hell.
Yes, 200BTC plus ~$500K-1mil in fiat accounts (stocks, bonds) plus paid off RE (0.5-1mil) plus soc sec-all this together should be enough, I hope. |
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giveBTCpls
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August 03, 2014, 09:50:05 PM |
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100 btc will be enough for retirement in 4-5 years but if you wait 2020, after the second btc halving from now, maybe with 50 btc you will live peacefuly untill heaven/hell.
Yes, 200BTC plus ~$500K-1mil in fiat accounts (stocks, bonds) plus paid off RE (0.5-1mil) plus soc sec-all this together should be enough, I hope. Well then it's not 200 BTC, its a shit ton more. |
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jonald_fyookball
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Core dev leaves me neg feedback #abuse #political
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August 03, 2014, 09:53:12 PM |
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100 btc will be enough for retirement in 4-5 years but if you wait 2020, after the second btc halving from now, maybe with 50 btc you will live peacefuly untill heaven/hell.
Yes, 200BTC plus ~$500K-1mil in fiat accounts (stocks, bonds) plus paid off RE (0.5-1mil) plus soc sec-all this together should be enough, I hope. Well then it's not 200 BTC, its a shit ton more. meh. soc. security alone already gives 30k doesn't it? |
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BitcoinBarrel
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Fill Your Barrel with Bitcoins!
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August 03, 2014, 09:55:15 PM |
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5 BTC I think would make you a weathy person if it continues to be in use by then.
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Nyterax
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August 03, 2014, 10:31:49 PM |
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I'd say 20-30 BTC today is enough, if you can live those years without digging into them.
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@Nyterax
BTC: 1McgGk69g82epdnxAdDQfMSXtUygZfL4vZ
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vuduchyld
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August 04, 2014, 04:30:26 AM |
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I damn sure want more than $30K in annual purchasing power. Not sure how many years y'all plan to live past 2020, but I ain't tryin' to run outta money. Not seeing too many retirement plans in here that I'd be willing to live with, unless y'all think BTC is going to be many orders of magnitude higher than I'd be comfortable predicting.
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hyphymikey
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August 04, 2014, 04:44:40 AM |
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No poll?
I would have to say 2.1 btc would be enough to retire in 5 years. I'm going to revisit this thread in 5 years and laugh as maybe .21 btc will be enough.
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Habeler876
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August 04, 2014, 07:30:50 AM |
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Maybe bitcoin will be worthless and 1 million of em won't get you jack. Unlikely, but it could happen.  Real answer: 300-400. Because it takes a good 1.5-2 million for a good retirement these days.... |
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Octavius
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August 04, 2014, 08:58:57 AM |
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100 btc will be enough for retirement in 4-5 years but if you wait 2020, after the second btc halving from now, maybe with 50 btc you will live peacefuly untill heaven/hell.
Yes, 200BTC plus ~$500K-1mil in fiat accounts (stocks, bonds) plus paid off RE (0.5-1mil) plus soc sec-all this together should be enough, I hope. What about Taxation? |
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MelodyRowell
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August 04, 2014, 09:04:05 AM |
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At least 100 btc to retire... but make sure you put them in cold wallet...
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bananaControl
Sr. Member
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Merit: 250
Decentralize All The Things!
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August 04, 2014, 11:24:01 AM |
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Prediction is very difficult, especially about the future. And as we can see here people have very diverse expectations regarding the future price of bitcoin.
The correct answer is: As many as you can possible get your hands on. But that might not even be enough since the price can be anywhere between $0 to $1,000,000. So if you have collected 200BTC and the price is $10 in 5 years, you clearly haven't got enough to retire. However, often the truth is to be found somewhere in the middle of the extremes, so a price point of $50,000 to $100,000 in about 6 years time, is what I am personally using when trying to figure out how much to put aside for a rainy future.
I of course presume that you have other investments as well, if not, diversify now!
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ReBoRn
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Bitcoin will survive
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August 04, 2014, 11:30:07 AM |
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At least 100 btc to retire... but make sure you put them in cold wallet...
Yes its best thing because price is not big problem safety is biggest problem right now so put them in cold wallet its good idea |
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bananaControl
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Decentralize All The Things!
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August 04, 2014, 11:32:17 AM |
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At least 100 btc to retire... but make sure you put them in cold wallet...
Yes its best thing because price is not big problem safety is biggest problem right now so put them in cold wallet its good idea And be sure to have paper backups of your wallet in multiple locations, USB-sticks doesn't do the trick for long time storage. |
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Soccruo
Member
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August 04, 2014, 12:17:00 PM |
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No poll?
I would have to say 2.1 btc would be enough to retire in 5 years. I'm going to revisit this thread in 5 years and laugh as maybe .21 btc will be enough.
Excuse me but why the .1, just curiosity, couldn't it be 2 btc?  |
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