Bitcoin as a Retirement Account

[GreenStox]

hmm nice idea , i will do that soon.
spare some income every month to bitcoin and keep that for couple years.
maybe it will worth alot in the future , or that will great legacy to my sons 
but that can happen if bitcoin still worth in the future.

I have a gut feeling that bitcoin will be worth 10x, 30x more than what it is today, and that day isn't that far. Just a couple years down the line, let's say 10 years and bitcoin's price will be 10x considering things are developing and rising exactly how they are in today's pace.

Comparing bitcoin to the current gdp, assuming things go our way and people put their savings money down and invest unto thr bitcoin venture, the value of a single bitcoin can rise upto 1 million dollars. Considering people put down money more than just their savings,nthe value can shoot even much more. However, thats just an assumption/theory and a dream.

Yea but also consider that about 60-70% of the world GDP is fake counterfeited money.

The assets are there no doubt, but their denominator is a fake toilet paper fiat which can be printed anytime.

So if the GDP shrinks to half, that would reflect reality better

[HarHarHar9965]

hmm nice idea , i will do that soon.
spare some income every month to bitcoin and keep that for couple years.
maybe it will worth alot in the future , or that will great legacy to my sons 
but that can happen if bitcoin still worth in the future.

I have a gut feeling that bitcoin will be worth 10x, 30x more than what it is today, and that day isn't that far. Just a couple years down the line, let's say 10 years and bitcoin's price will be 10x considering things are developing and rising exactly how they are in today's pace.

Comparing bitcoin to the current gdp, assuming things go our way and people put their savings money down and invest unto thr bitcoin venture, the value of a single bitcoin can rise upto 1 million dollars. Considering people put down money more than just their savings,nthe value can shoot even much more. However, thats just an assumption/theory and a dream.

yes, but this is a dream which might actually come true. Recent adoption and support bitcoin has supported is gradually going higher than vice versa, it is receiving fair attention from people. The Greek economic collapse made people realize how dangerous centralized currency can be, and how banks can screw its customers at their worst times. Bitcoin is a suitable alternative, if not a replacement.

[Miracal]

hmm nice idea , i will do that soon.
spare some income every month to bitcoin and keep that for couple years.
maybe it will worth alot in the future , or that will great legacy to my sons 
but that can happen if bitcoin still worth in the future.

I have a gut feeling that bitcoin will be worth 10x, 30x more than what it is today, and that day isn't that far. Just a couple years down the line, let's say 10 years and bitcoin's price will be 10x considering things are developing and rising exactly how they are in today's pace.

Comparing bitcoin to the current gdp, assuming things go our way and people put their savings money down and invest unto thr bitcoin venture, the value of a single bitcoin can rise upto 1 million dollars. Considering people put down money more than just their savings,nthe value can shoot even much more. However, thats just an assumption/theory and a dream.

yes, but this is a dream which might actually come true. Recent adoption and support bitcoin has supported is gradually going higher than vice versa, it is receiving fair attention from people. The Greek economic collapse made people realize how dangerous centralized currency can be, and how banks can screw its customers at their worst times. Bitcoin is a suitable alternative, if not a replacement.

I think a lot of people have confused themselves as well as others when they started behaving and believing in the idea that bitcoin is a replacement, and it will create world domination in currency but that is unrealistic, and it s just an alternative not a replacement. Success would happen when you understand your investment rather than just put money in it.

[needFREElunch]

Locking funds till you reach the retirement age. That's risky and safe at the same time. Why would anyone want to to lock the funds , if he/ she cannot use it in the times of need. But yeah in a way , a future planning is happening.

[Zorrocoin]

Every month, your employer transfers Bitcoins into a time-locked address that can't be transferred out before you reach retirement age.  You have the key to the address.  You can verify the transfer on the blockchain.

No middle-men.  No funny business.  No brokers with pyramid/eyeball shaped logos.  No "oops we went bankrupt and lost your retirement."  No bail-ins.  No raising the age of retirement.

Just Bitcoin.

This is a quite fascinating thread . Although it is not very promising. Suppose this does take place, what guarantee do you have that bitcoin's prices will not drop down like a sack of potatoes? And who says that the retirement fund's priorities are for the employee's retirement needs? there are loads of more questions that arise.

[JJB]

Locking funds till you reach the retirement age. That's risky and safe at the same time. Why would anyone want to to lock the funds , if he/ she cannot use it in the times of need. But yeah in a way , a future planning is happening.

But that's exactly what pretty much what everyone does as a retirement account or with their pension for example. People save because they need to as when they retire they wont have any money otherwise. Sure, keeping your money in bitcoin is risky but so is keeping it in a pension or in your bank in some cases. I think putting some money into bitcoin could pay dividends by the time you retire but nothing is guarnteed.

[greBit]

Locking funds till you reach the retirement age. That's risky and safe at the same time. Why would anyone want to to lock the funds , if he/ she cannot use it in the times of need. But yeah in a way , a future planning is happening.

But that's exactly what pretty much what everyone does as a retirement account or with their pension for example. People save because they need to as when they retire they wont have any money otherwise. Sure, keeping your money in bitcoin is risky but so is keeping it in a pension or in your bank in some cases. I think putting some money into bitcoin could pay dividends by the time you retire but nothing is guarnteed.

I felt the same like yall, so what I did was divide my future savings in 3 parts. I have been investing 1/3rd of my money in Gold because I love Gold and believe in it, it has always been around from a long time. 1/3rd of my money is invested in Bitcoins because I believe they have a very bright future. The rest 1/3rd is fixed deposits that I pay every month for a comfortable retirement.

[JJB]

I felt the same like yall, so what I did was divide my future savings in 3 parts. I have been investing 1/3rd of my money in Gold because I love Gold and believe in it, it has always been around from a long time. 1/3rd of my money is invested in Bitcoins because I believe they have a very bright future. The rest 1/3rd is fixed deposits that I pay every month for a comfortable retirement.

Diversification is probably a good idea. I'd personally rather keep my money in bitcoin than gold though as I think there is far bigger potential for profit than gold, but bitcoin is far riskier as well (but the reward higher). I plan to earn as much bitcoin as I can rather than invest all my fiat money in it as it is still an experimental and uncertain tech in my opinion but I do believe in it.The question is does the rest of the world.

[LFC_Bitcoin]

I think this is a great idea & I'm sure if employers were willing to integrate or adapt their pension schemes to include BTC then it's a definite possibility that people would be willing to use it.

Most pension schemes with banks or brokers make you invest a fixed amount of fiat that comes out of your wages every month over a number of years (say 30-40). A lot of them mess around with your pension pot by investing the money in stocks & shares to try & grow your final pot (with them taking a %) so it'd be no riskier for people using BTC instead.

I think this is definitely something that could happen in the future, I think it's probably a little too early now though for most people/companies to be willing to risk their pension using BTC.

[JJB]

I think this is a great idea & I'm sure if employers were willing to integrate or adapt their pension schemes to include BTC then it's a definite possibility that people would be willing to use it.

Most pension schemes with banks or brokers make you invest a fixed amount of fiat that comes out of your wages every month over a number of years (say 30-40).

Why do we need employers to sort our pensions out? We can do that ourselves and I think it's better to save money yourself rather than rely on state pensions or employer ones. Bitcoin allows us to become our own banks and that's what's great about it.

[GreenStox]

hmm nice idea , i will do that soon.
spare some income every month to bitcoin and keep that for couple years.
maybe it will worth alot in the future , or that will great legacy to my sons 
but that can happen if bitcoin still worth in the future.

I have a gut feeling that bitcoin will be worth 10x, 30x more than what it is today, and that day isn't that far. Just a couple years down the line, let's say 10 years and bitcoin's price will be 10x considering things are developing and rising exactly how they are in today's pace.

Comparing bitcoin to the current gdp, assuming things go our way and people put their savings money down and invest unto thr bitcoin venture, the value of a single bitcoin can rise upto 1 million dollars. Considering people put down money more than just their savings,nthe value can shoot even much more. However, thats just an assumption/theory and a dream.

yes, but this is a dream which might actually come true. Recent adoption and support bitcoin has supported is gradually going higher than vice versa, it is receiving fair attention from people. The Greek economic collapse made people realize how dangerous centralized currency can be, and how banks can screw its customers at their worst times. Bitcoin is a suitable alternative, if not a replacement.

Its still ongoing, and this was just the beginning, it will be far worse from 6 months now.

Nothing has been resolved, and the problems, as usual, are only postponed until they become twice bigger.

This banking system will collapse, and it will take the pension with it, bitcoin pension would be a smart idea to do now, until you got any savings left.

[Zorrocoin]

hmm nice idea , i will do that soon.
spare some income every month to bitcoin and keep that for couple years.
maybe it will worth alot in the future , or that will great legacy to my sons 
but that can happen if bitcoin still worth in the future.

I have a gut feeling that bitcoin will be worth 10x, 30x more than what it is today, and that day isn't that far. Just a couple years down the line, let's say 10 years and bitcoin's price will be 10x considering things are developing and rising exactly how they are in today's pace.

Comparing bitcoin to the current gdp, assuming things go our way and people put their savings money down and invest unto thr bitcoin venture, the value of a single bitcoin can rise upto 1 million dollars. Considering people put down money more than just their savings,nthe value can shoot even much more. However, thats just an assumption/theory and a dream.

yes, but this is a dream which might actually come true. Recent adoption and support bitcoin has supported is gradually going higher than vice versa, it is receiving fair attention from people. The Greek economic collapse made people realize how dangerous centralized currency can be, and how banks can screw its customers at their worst times. Bitcoin is a suitable alternative, if not a replacement.

You are right , bitcoin has gotten a lot of support and acceptance since a while and more is yet to  come. This is just the beginning . Yes, after the greek crisis , people have come to realize how messed up the centralized banks are , and obviously wanting something to quickly cling on, looked at bitcoin as a viable option. Maybe this is the beginning of the time where centralized banks are gonna be compelled to abdicate the empire for bitcoin to be on the throne.

[torrentheaven]

Locking funds till you reach the retirement age. That's risky and safe at the same time. Why would anyone want to to lock the funds , if he/ she cannot use it in the times of need. But yeah in a way , a future planning is happening.

But that's exactly what pretty much what everyone does as a retirement account or with their pension for example. People save because they need to as when they retire they wont have any money otherwise. Sure, keeping your money in bitcoin is risky but so is keeping it in a pension or in your bank in some cases. I think putting some money into bitcoin could pay dividends by the time you retire but nothing is guarnteed.

Nothing is guaranteed that is for sure But having bitcoin as a retirement account is an good idea as you can withdraw your bitcoins whenever you need. I think it is better then the pension plans or fixed deposits where you have locking period and you cannot withdraw unless it gets matured and if you withdraw when it is pre-mature then banks charges heavily on it.

[pigzone]

I mean lol ke the is the easiest way to make money and make alot of money quickly

[BTCevo]

Locking funds till you reach the retirement age. That's risky and safe at the same time. Why would anyone want to to lock the funds , if he/ she cannot use it in the times of need. But yeah in a way , a future planning is happening.

But that's exactly what pretty much what everyone does as a retirement account or with their pension for example. People save because they need to as when they retire they wont have any money otherwise. Sure, keeping your money in bitcoin is risky but so is keeping it in a pension or in your bank in some cases. I think putting some money into bitcoin could pay dividends by the time you retire but nothing is guarnteed.

Nothing is guaranteed that is for sure But having bitcoin as a retirement account is an good idea as you can withdraw your bitcoins whenever you need. I think it is better then the pension plans or fixed deposits where you have locking period and you cannot withdraw unless it gets matured and if you withdraw when it is pre-mature then banks charges heavily on it.

Having bitcoin as a retirement is good if you hold much of bitcoin, with a low bitcoin I dont think this is a good idea. There is too many things that need to be implemented in bitcoin and all of this need mass adoption. Although you got bitcoin but there are no adoption, this will just stay the same and bitcoin will go nowhere

[pigzone]

It's the easiest and quickest earning job

[mearylll]

Locking funds till you reach the retirement age. That's risky and safe at the same time. Why would anyone want to to lock the funds , if he/ she cannot use it in the times of need. But yeah in a way , a future planning is happening.

But that's exactly what pretty much what everyone does as a retirement account or with their pension for example. People save because they need to as when they retire they wont have any money otherwise. Sure, keeping your money in bitcoin is risky but so is keeping it in a pension or in your bank in some cases. I think putting some money into bitcoin could pay dividends by the time you retire but nothing is guarnteed.

Nothing is guaranteed that is for sure But having bitcoin as a retirement account is an good idea as you can withdraw your bitcoins whenever you need. I think it is better then the pension plans or fixed deposits where you have locking period and you cannot withdraw unless it gets matured and if you withdraw when it is pre-mature then banks charges heavily on it.

Having bitcoin as a retirement is good if you hold much of bitcoin, with a low bitcoin I dont think this is a good idea. There is too many things that need to be implemented in bitcoin and all of this need mass adoption. Although you got bitcoin but there are no adoption, this will just stay the same and bitcoin will go nowhere

ya that's true. If you have it as an retirement account that totally depends on the number of bitcoins you hold. If you have good number of bitcoins then your retirement period would be wealthy and rich and you don't have to depend on any other investment products.

[GreenStox]

hmm nice idea , i will do that soon.
spare some income every month to bitcoin and keep that for couple years.
maybe it will worth alot in the future , or that will great legacy to my sons 
but that can happen if bitcoin still worth in the future.

I have a gut feeling that bitcoin will be worth 10x, 30x more than what it is today, and that day isn't that far. Just a couple years down the line, let's say 10 years and bitcoin's price will be 10x considering things are developing and rising exactly how they are in today's pace.

Comparing bitcoin to the current gdp, assuming things go our way and people put their savings money down and invest unto thr bitcoin venture, the value of a single bitcoin can rise upto 1 million dollars. Considering people put down money more than just their savings,nthe value can shoot even much more. However, thats just an assumption/theory and a dream.

yes, but this is a dream which might actually come true. Recent adoption and support bitcoin has supported is gradually going higher than vice versa, it is receiving fair attention from people. The Greek economic collapse made people realize how dangerous centralized currency can be, and how banks can screw its customers at their worst times. Bitcoin is a suitable alternative, if not a replacement.

You are right , bitcoin has gotten a lot of support and acceptance since a while and more is yet to  come. This is just the beginning . Yes, after the greek crisis , people have come to realize how messed up the centralized banks are , and obviously wanting something to quickly cling on, looked at bitcoin as a viable option. Maybe this is the beginning of the time where centralized banks are gonna be compelled to abdicate the empire for bitcoin to be on the throne.

Not just the central banks, but the private banks aswell.

The only thing that guaranttes your money is that small investment insurance up to 100.000€, but even that cannot cover it, if all banks fail.

So basically, using a bank in 2015, anywhere in the world, is the biggest risk of all times, and you only get a reward of 1% interest.

C`mon the risk/reward ratio is fucked up

[BTCevo]

Locking funds till you reach the retirement age. That's risky and safe at the same time. Why would anyone want to to lock the funds , if he/ she cannot use it in the times of need. But yeah in a way , a future planning is happening.

But that's exactly what pretty much what everyone does as a retirement account or with their pension for example. People save because they need to as when they retire they wont have any money otherwise. Sure, keeping your money in bitcoin is risky but so is keeping it in a pension or in your bank in some cases. I think putting some money into bitcoin could pay dividends by the time you retire but nothing is guarnteed.

Nothing is guaranteed that is for sure But having bitcoin as a retirement account is an good idea as you can withdraw your bitcoins whenever you need. I think it is better then the pension plans or fixed deposits where you have locking period and you cannot withdraw unless it gets matured and if you withdraw when it is pre-mature then banks charges heavily on it.

Having bitcoin as a retirement is good if you hold much of bitcoin, with a low bitcoin I dont think this is a good idea. There is too many things that need to be implemented in bitcoin and all of this need mass adoption. Although you got bitcoin but there are no adoption, this will just stay the same and bitcoin will go nowhere

ya that's true. If you have it as an retirement account that totally depends on the number of bitcoins you hold. If you have good number of bitcoins then your retirement period would be wealthy and rich and you don't have to depend on any other investment products.

This is wrong, although you got some solid retirement that will make you wealthy enough, you still need others investments too like insurance to make your life better. Doesnt mean that if you have all of money you will stop right there, because people never satisfied to what they have now and they will earn more and more just to having a great life

[Falconer]

This is wrong, although you got some solid retirement that will make you wealthy enough, you still need others investments too like insurance to make your life better. Doesnt mean that if you have all of money you will stop right there, because people never satisfied to what they have now and they will earn more and more just to having a great life

Not all people like that, its only for a person who never enjoy his life, spend most of his time to work and get money. Well it depends on you, you will enjoy your life when you have retired or you will never give up to beat Bill Gates wealth.