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Author Topic: How many Bitcoins needed to retire in 5-6 years?  (Read 13698 times)
Crindon
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August 03, 2014, 07:48:05 PM
 #1

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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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

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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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August 03, 2014, 08:29:52 PM
 #4

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.

Remember Aaron Swartz, a 26 year old computer scientist who died defending the free flow of information.
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August 03, 2014, 09:09:44 PM
 #5

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.


InwardContour
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August 03, 2014, 09:17:01 PM
 #6

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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August 03, 2014, 09:39:49 PM
 #7

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.
giveBTCpls
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August 03, 2014, 09:50:05 PM
 #8

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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August 03, 2014, 09:53:12 PM
 #9

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?

BitcoinBarrel
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August 03, 2014, 09:55:15 PM
 #10

5 BTC I think would make you a weathy person if it continues to be in use by then.



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August 03, 2014, 10:31:49 PM
 #11

I'd say 20-30 BTC today is enough, if you can live those years without digging into them.

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vuduchyld
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August 04, 2014, 04:30:26 AM
 #12

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.

hyphymikey
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August 04, 2014, 04:44:40 AM
 #13

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.
Habeler876
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August 04, 2014, 07:30:50 AM
 #14

Maybe bitcoin will be worthless and 1 million of em won't get you jack. Unlikely, but it could happen. Smiley

Real answer: 300-400. Because it takes a good 1.5-2 million for a good retirement these days....

Octavius
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August 04, 2014, 08:58:57 AM
 #15

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?
MelodyRowell
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August 04, 2014, 09:04:05 AM
 #16

At least 100 btc to retire... but make sure you put them in cold wallet...
bananaControl
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August 04, 2014, 11:24:01 AM
 #17

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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August 04, 2014, 11:30:07 AM
 #18

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

bananaControl
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August 04, 2014, 11:32:17 AM
 #19

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.
Soccruo
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August 04, 2014, 12:17:00 PM
 #20

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? Cheesy

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