Bitcoin as a Retirement Account

[goosoodude]

im broke and unemployed for 20 years no retirement for me lol

you must be rich or someone else is feeding you, in this case maybe you can take advantage of his inheritance if he want you as a heir

or just try to earn even a single bitcoin, in a far distant future, it may be enough to do a retirement

No he doesn't. Many people are officially unemployed, which means they have no contract and no retirement fund, but they are working and have enough to pay their bills.
Don't immediately label all unemployed and broke people as lazy.

It's not really labeling "all unemployed and broke people as lazy", since he's talking about 20 years of unemployment. Now he's not 20 yo teenager,
or has some sort of a disability, i don't see how he couldn't find a job for 20 straight years.

Back to the topic tho; as a retirement account, even tho bitcoin is unstable regarding price, it's more than obvious that it has an insane potential,
so i wouldn't scratch it off as an option. Maybe it would be better as a side investment, rather than a life investment, but it's definitely something that
should be considered as an option by everyone.

[GreenStox]

I`d throw in some NXT, Monero and DASH aswell into that retirement portfolio.

Btc is good, but NXT and Monero has much more ROI%.


If NXT hits it right, then it can single handedly generate your pension!

By watching your confidence I can risk some amount of my Bitcoin into these projects.

But there is a huge risk that these altcoins will fail like all others and I'll be one of those bagholders.

There is, but we know for sure that the fiat system will fail 100%.

So the money has to go somewhere, fortunately not many places left to go (considering the bail-ins, civil forfeitures, and more) except crypto.

Even if the current altcoins fail somehow (i dont see how) , cryptocurrency as a whole will survive (but not those with the private blockchains, only the decentralized ones)

[MinerHQ]

I`d throw in some NXT, Monero and DASH aswell into that retirement portfolio.

Btc is good, but NXT and Monero has much more ROI%.


If NXT hits it right, then it can single handedly generate your pension!

By watching your confidence I can risk some amount of my Bitcoin into these projects.

But there is a huge risk that these altcoins will fail like all others and I'll be one of those bagholders.

There is, but we know for sure that the fiat system will fail 100%.

So the money has to go somewhere, fortunately not many places left to go (considering the bail-ins, civil forfeitures, and more) except crypto.

Even if the current altcoins fail somehow (i dont see how) , cryptocurrency as a whole will survive (but not those with the private blockchains, only the decentralized ones)

Bitcoins are not for retirement. Their is no clear future of the bitcoins if some countries ban bitcoin transaction then the price will go down to single digit.

[BitPappa]

Here's a U.S.-centric podcast episode about the Bitcoin Investment Trust, which allows people with recognized retirement accounts to speculate on the future price of Bitcoin through a fund that holds Bitcoins (actually, Zapo holds the Bitcoins). Obviously, a good portion of Bitcoiners do not want to put their earnings in a centralized, institutionalized, legacy platform that is completely tracked by the government, and may not survive the next big financial crash... That said, people with lots of money (especially in tax-privileged retirement accounts), who are interested in adding a speculative position in Bitcoin, and have plenty of trust in the system, may find this an intriguing option.

https://letstalkbitcoin.com/blog/post/the-bitcoin-game-23-mainstream-investing-with-the-bitcoin-investment-trust

[bitcollins85]

bitcoin as a Retirement Account. Would definitely love to have it. Certain risk is involved as we don't know what's the future of Bitcoin but still can afford to have risk.

[HarHarHar9965]

im broke and unemployed for 20 years no retirement for me lol

you must be rich or someone else is feeding you, in this case maybe you can take advantage of his inheritance if he want you as a heir

or just try to earn even a single bitcoin, in a far distant future, it may be enough to do a retirement

No he doesn't. Many people are officially unemployed, which means they have no contract and no retirement fund, but they are working and have enough to pay their bills.
Don't immediately label all unemployed and broke people as lazy.

exactly, people judge so much these days. Some people can be deceased, old, demotivated, depressed, whatever. Its easy to assume, very few of us have personally done something to benefit the bitcoin community. I have known so limited people who are doing crypto business and even less who talk about crypto in order for it to get more acceptance and recognition. And then we question others and labelling them lazy, wtf

[risingtide]

https://letstalkbitcoin.com/blog/post/the-bitcoin-game-23-mainstream-investing-with-the-bitcoin-investment-trust

The operative word is "trust" - I'd rather manage it myself as my experience has given me very little faith in the various BTC institutions that have been advertised on this very forum. I know that's probably unfair to the proprietor of that trust, but I don't think it's an overly harsh assessment given the charlatans and amateurs I've encountered in the BTC world.

There is an interesting link in that interview to Overstock's CEO and what he envisions the blockchain becoming:

For the first time in 6,000 years of human history we can have peer-to-peer exchange where trust is not a problem anymore. And it’s through the technology that underlies bitcoin. It’s called the block chain. That’s the great innovation. And I see the historical and political ramifications of this invention as—it’s like 6,000 years up to this point and then there’s this. I think it’s going to change everything because we have all these legacy, centralized institutions that are in one way or another that have business models that are involved with saying, "Well, I’ll solve the problem of trust among all you people, but in return for which I expect to get paid."

[mrhelpful]

I think despite on peoples doubt with the value.

If most of our transactions for bitcoin is towards gambling I think the gambling industry itself can explode our value if they use it just for gambling purposes.

I only see then to retire, but eventually if I saw a growing # onling gambling sites to adopt it.

[luciann]

https://letstalkbitcoin.com/blog/post/the-bitcoin-game-23-mainstream-investing-with-the-bitcoin-investment-trust

The operative word is "trust" - I'd rather manage it myself as my experience has given me very little faith in the various BTC institutions that have been advertised on this very forum. I know that's probably unfair to the proprietor of that trust, but I don't think it's an overly harsh assessment given the charlatans and amateurs I've encountered in the BTC world.

There is an interesting link in that interview to Overstock's CEO and what he envisions the blockchain becoming:

For the first time in 6,000 years of human history we can have peer-to-peer exchange where trust is not a problem anymore. And it’s through the technology that underlies bitcoin. It’s called the block chain. That’s the great innovation. And I see the historical and political ramifications of this invention as—it’s like 6,000 years up to this point and then there’s this. I think it’s going to change everything because we have all these legacy, centralized institutions that are in one way or another that have business models that are involved with saying, "Well, I’ll solve the problem of trust among all you people, but in return for which I expect to get paid."

Instead of the CEO`s envision, I would focus on the now before we get to that stage.

Theres a huge thread to the bitcoin split on mix conflictiing emotions that we all hold with bitcoin, until thats fixed I dont think we can envision these scenarios..

[GreenStox]

I`d throw in some NXT, Monero and DASH aswell into that retirement portfolio.

Btc is good, but NXT and Monero has much more ROI%.


If NXT hits it right, then it can single handedly generate your pension!

By watching your confidence I can risk some amount of my Bitcoin into these projects.

But there is a huge risk that these altcoins will fail like all others and I'll be one of those bagholders.

There is, but we know for sure that the fiat system will fail 100%.

So the money has to go somewhere, fortunately not many places left to go (considering the bail-ins, civil forfeitures, and more) except crypto.

Even if the current altcoins fail somehow (i dont see how) , cryptocurrency as a whole will survive (but not those with the private blockchains, only the decentralized ones)

Bitcoins are not for retirement. Their is no clear future of the bitcoins if some countries ban bitcoin transaction then the price will go down to single digit.

Yea and how exactly are they enforcing it? You can ban breating air too, but its hard to enforce it if 100% of humans will disobey your law.

I think the same with happen with bitcoin too, you cant ban technology.

[Snorek]

Bitcoin is too unreliable to be treated as retirement investment. Price is too volatile, uncertain future with bitcoin status in some countries, internal bitcoin wars over nodes and so on.
I would not bet that bitcoin will be saving my ass when I will be old. Instead invest in gold, silver, real estate market and other 'real' items.

[lissandra]

Bitcoin is too unreliable to be treated as retirement investment. Price is too volatile, uncertain future with bitcoin status in some countries, internal bitcoin wars over nodes and so on.
I would not bet that bitcoin will be saving my ass when I will be old. Instead invest in gold, silver, real estate market and other 'real' items.

I was going to mention about volalitily. But yeah frankly most people dont see it reasonable to call it a retirement due to recent events.

You can only imagine just because bitfnex effects like a couple grand if you heavily relied on the coin. I honestly dont think its consider restirement if it cant hold a solid price point.

I would just be better off buying a home and keeping in bonds or something similar to what you mentioned.

[luciann]

im broke and unemployed for 20 years no retirement for me lol

then good thing your here , telling to yourself than no retirement fee because your unemployed is just an excuse to tell yourself to not go out and work ... but thanks to the bitcoin ,you can start working from home if

only you could find the right path into it

this is pretty spot on.

most people can find work, but its the pay gets them that they deserve better. I personally think everyone is employed now since bitcoin is around and that includes people posting to earn btc.

[HarHarHar9965]

Bitcoin is too unreliable to be treated as retirement investment. Price is too volatile, uncertain future with bitcoin status in some countries, internal bitcoin wars over nodes and so on.
I would not bet that bitcoin will be saving my ass when I will be old. Instead invest in gold, silver, real estate market and other 'real' items.

Haha, volatility issues have existed regarding bitcoin from the time it came around, it was the reason people were attracted to it and now people despise it, because its going the wrong direction they expected it to A lot of countries have modified their laws in terms for bitcoin to grow, a recent example woul be Australia. Knowing about the disagreement and launch of the XT project, I have a little fear too now.

[roadbits]

No investment is perfectly safe, there's always risk involved. The question is whether the risks of owning Bitcoins are right for you. As part of a healthy investment portfolio I think it's a great idea. For flipping quickly? No, probably not.

[tommorisonwebdesign]

im broke and unemployed for 20 years no retirement for me lol

you must be rich or someone else is feeding you, in this case maybe you can take advantage of his inheritance if he want you as a heir

or just try to earn even a single bitcoin, in a far distant future, it may be enough to do a retirement

No he doesn't. Many people are officially unemployed, which means they have no contract and no retirement fund, but they are working and have enough to pay their bills.
Don't immediately label all unemployed and broke people as lazy.

exactly, people judge so much these days. Some people can be deceased, old, demotivated, depressed, whatever. Its easy to assume, very few of us have personally done something to benefit the bitcoin community. I have known so limited people who are doing crypto business and even less who talk about crypto in order for it to get more acceptance and recognition. And then we question others and labelling them lazy, wtf

With the way the economy is going these days, I don't see a real problem with these alternative ways of making money. I tell my friends that I post on this forum and get paid from signature campaigns and they tell me to get a real job - one that does not involve sitting in front of a  computer. Work is work and while I may not be "employed" I am still doing my best to stay self sufficient and take care of myself.

[botany]

No investment is perfectly safe, there's always risk involved. The question is whether the risks of owning Bitcoins are right for you. As part of a healthy investment portfolio I think it's a great idea. For flipping quickly? No, probably not.

The question is not just about whether bitcoins should form part of your portfolio - it is also about what percentage of your portfolio should be in the form of bitcoins. It should be a small percentage. Even if Bitcoin crashes to zero, it shouldn't break your back.

[michinzx]

very nice if bitcoin can be used as a fund after we retire from work, which is expected bitcoin exchange rates on the future will increase and can be used up to the day our parents, hopefully the price will be more stable bitcoin exchange ... 

having retirement funds in bitcoin might not be a fantastic idea in the current economy, the volatility could lead to financial insecurity in the case of a price drop. if bitcoin becomes more stable and living solely on bitcoin becomes a realistic and convenient possibility in the future, maybe.

[BitPappa]

having retirement funds in bitcoin might not be a fantastic idea in the current economy, the volatility could lead to financial insecurity in the case of a price drop. if bitcoin becomes more stable and living solely on bitcoin becomes a realistic and convenient possibility in the future, maybe.

I think most traditional investing experts say the key to investing is diversification. For anyone with that perspective, I think it makes sense to have at least a small investment in Bitcoin if your goal is to have a diversified portfolio. Even if you think an investment is not going to be profitable, the investment could still be seen as a beneficial hedge for a portfolio, in case something extreme happens (that’s why many people who don’t like gold still own gold -- if there's a financial crisis that kills all their investments, the assumption is that gold will move in the opposite direction).

Volatility affects someone with a short time horizon, which is why day traders love volatility. And that's why I’d argue that long term investors don’t have reason to care about volatility. The longer you expect to hold Bitcoin, the less volatility matters. If a speculative investment in a portfolio drops 50% in a day, you're not planning to access that investment for ten years anyway, so it just doesn't affect you (well, except perhaps emotionally). In a volatile market, one might want to set automated monthly buys, to “dollar cost average” into the volatile investment (and help avoid the poor judgement that humans can make about timing the market). That said, I think it makes sense to buy Bitcoin on dips (kind of the opposite of traders who avoid “falling daggers"). But it can take steel nerves to buy when most are seeing doom.

At least that’s how I see it.

[Santoso]

Hmm I think it's not a bad idea though we will not know what's gonna happen in the future including about bitcoin.
It's like a 50-50 of chance like gambling because of its volatile nature.
So I'd better play safe by spending more bitcoins in investment like land, housing, or gold and also keep the rest bitcoins by hoping for its stable or even higher price in the future.