100 bitcoins. Will I be a millionaire by 2020?

[CoinCidental]

What people aren't realizing is that if you do become a Millionaire in Bitcoin, the second you cash out you will have to pay a 40% capital gains tax, which will leave you with only $600k. Socialism FTW!

anyone who ends up with over a million  or several million $ worth of btc could easily fly to switzerland or the emirates or  china  etc or wherever there is no or very little tax to be paid

trying to bring the cash back home would be stupid though so i would probably live in an alternative country than give up half my money for tax ..........

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[Wary]

What people aren't realizing is that if you do become a Millionaire in Bitcoin, the second you cash out you will have to pay a 40% capital gains tax, which will leave you with only $600k. Socialism FTW!

anyone who ends up with over a million  or several million $ worth of btc could easily fly to switzerland or the emirates or  china  etc or wherever there is no or very little tax to be paid

trying to bring the cash back home would be stupid though so i would probably live in an alternative country than give up half my money for tax ..........

For Americans moving to other country won't be enough. They have to give up their citizenship and wait several years till IRS releases their grip. So, don't wait till bubble, move now. To New Zealand. No capital gain tax. Palms, beaches and everybody speaks English.

[gentlemand]

 For Americans moving to other country won't be enough. They have to give up their citizenship and wait several years till IRS releases their grip. So, don't wait till bubble, move now And if your native language is English, you may want to choose New Zealand. No capital gain tax, palms, beaches and everybody speaks English.

That's a bit of a radical move to save some cash. I'd swallow the tax and enjoy my life, but it depends on how happy and tied you are to your home country. 

The idea of sitting in a tax haven counting off the days for when you can restart your old life is worth giving up a chunk of money.

[futureofbitcoin]

What people aren't realizing is that if you do become a Millionaire in Bitcoin, the second you cash out you will have to pay a 40% capital gains tax, which will leave you with only $600k. Socialism FTW!

anyone who ends up with over a million  or several million $ worth of btc could easily fly to switzerland or the emirates or  china  etc or wherever there is no or very little tax to be paid

trying to bring the cash back home would be stupid though so i would probably live in an alternative country than give up half my money for tax ..........

A million isn't really enough to do much these days. 5 million is probably barely enough if you live frugally* and you are single. If you have a family, you'll probably need 20M+.


*Frugally, in the context of being upper-class. No $1000 bottles of wine everyday, no caviar and truffles with wagyu everyday, no vacation villas around the world, etc.

[jt byte]

It's hard to predict. Only hold bitcoins you can afford to lose.

[Wary]

 For Americans moving to other country won't be enough. They have to give up their citizenship and wait several years till IRS releases their grip. So, don't wait till bubble, move now And if your native language is English, you may want to choose New Zealand. No capital gain tax, palms, beaches and everybody speaks English.

That's a bit of a radical move to save some cash. I'd swallow the tax and enjoy my life, but it depends on how happy and tied you are to your home country. 

The idea of sitting in a tax haven counting off the days for when you can restart your old life is worth giving up a chunk of money.

It depends on what your old life was, but chances are you'll be able to restart it immediately. For example, if you cannot imagine your life without commuting through traffic jams, you'll find plenty of them in Auckland

[micky123]

What people aren't realizing is that if you do become a Millionaire in Bitcoin, the second you cash out you will have to pay a 40% capital gains tax, which will leave you with only $600k. Socialism FTW!

anyone who ends up with over a million  or several million $ worth of btc could easily fly to switzerland or the emirates or  china  etc or wherever there is no or very little tax to be paid

trying to bring the cash back home would be stupid though so i would probably live in an alternative country than give up half my money for tax ..........

A million isn't really enough to do much these days. 5 million is probably barely enough if you live frugally* and you are single. If you have a family, you'll probably need 20M+.


*Frugally, in the context of being upper-class. No $1000 bottles of wine everyday, no caviar and truffles with wagyu everyday, no vacation villas around the world, etc.

Lol, everyone fly to India and live here. It is very cheap to live in India atm. I have chatted with many folks on gambling websites and other chat rooms for bitcoin / crypto and find that India is one of the cheapest places to live in. If i get $5m, i can retire peacefully and i need not live very frugally either! . An amazing 3 BHK apartment in one of the posh neighbourhoods in Bangalore, India would cost me $150000, A luxury car like an Audi (in India Audi defines luxury) would cost me $60000. Food is cheap and yes, i am not talking about Indian food alone, Bangalore caters to the palate of the world. Travel is also fairly cheap cause petrol / diesel is much cheaper than in the US. Ofc, we have our share of poor folk, but if you live in that $150000 apartment, you will not see these folk on a daily basis.

[Benjig]

50% you can get a ton of money feom 100 btc on 2020 and 50% it can be a worthless digital currency by then.

[PaulPierce]

It would be good to see but unfortunately I do not thing so. I am hoping to double my money from here in a year or two but I don't see it going up to much from there in the short term.

[ekissane]

What people aren't realizing is that if you do become a Millionaire in Bitcoin, the second you cash out you will have to pay a 40% capital gains tax, which will leave you with only $600k. Socialism FTW!

anyone who ends up with over a million  or several million $ worth of btc could easily fly to switzerland or the emirates or  china  etc or wherever there is no or very little tax to be paid

trying to bring the cash back home would be stupid though so i would probably live in an alternative country than give up half my money for tax ..........

A million isn't really enough to do much these days. 5 million is probably barely enough if you live frugally* and you are single. If you have a family, you'll probably need 20M+.


*Frugally, in the context of being upper-class. No $1000 bottles of wine everyday, no caviar and truffles with wagyu everyday, no vacation villas around the world, etc.

$5m and live frugally? Over 40 years (assuming I die at 82) that's $2400 a week. That is far from frugal my friend!

[futureofbitcoin]

$5m and live frugally? Over 40 years (assuming I die at 82) that's $2400 a week. That is far from frugal my friend!

Again, I said that "frugal" for an upper-class person. 2400 a week isn't enough for a bottle of $1000 wine per day, for example.


Besides, a house in a bigger city like LA, San fran, New york or Vancouver will take a huge chunk out of that 5mil. If you get another vacation house or something in tokyo or somewhere, you're left with half of that money left. And then a car every few years, car insurance, land tax, etc etc etc, yeah. 5 Mil is not a lot.

[Monetizer]

Unfortunately I do not think you will be a millionaire however I think you might have a fair amount of money by that time. It is not impossible for that to happen, I guess this is like when bitcoin hit $150 for the first time and I thought that would be the highest price we would see for a long long time

[FUR11]

I think you could very well be a millionaire with 100 BTC. One thing you could try to do is trade the major waves, to increase your holdings even further - but please keep in mind that you may also lose your BTC very quickly by doing so.

[Herbert2020]

to be a millionaire with 100 BTC the price should rise higher than $10,000 per BTC to only have 1 mil. and i highly doubt that the price can rise that high by 2020.

[Bagatell]

to be a millionaire with 100 BTC the price should rise higher than $10,000 per BTC to only have 1 mil. and i highly doubt that the price can rise that high by 2020.

Oh ye of little faith.



https://bitcointalk.org/index.php?topic=831547.msg9293350#msg9293350

[ThatDGuy]

50% you can get a ton of money feom 100 btc on 2020 and 50% it can be a worthless digital currency by then.

I don't think the percentages are so skewed towards failure, and that percentage of failure drops lower every day, and with every announcement like this:

http://blogs.wsj.com/digits/2015/03/10/secretive-bitcoin-startup-21-reveals-record-funds-hints-at-mass-consumer-play/

$112m invested in the ecosystem.

[Brewins]

$5m and live frugally? Over 40 years (assuming I die at 82) that's $2400 a week. That is far from frugal my friend!

Again, I said that "frugal" for an upper-class person. 2400 a week isn't enough for a bottle of $1000 wine per day, for example.


Besides, a house in a bigger city like LA, San fran, New york or Vancouver will take a huge chunk out of that 5mil. If you get another vacation house or something in tokyo or somewhere, you're left with half of that money left. And then a car every few years, car insurance, land tax, etc etc etc, yeah. 5 Mil is not a lot.

depends where you live.

In thailand for example you'll be the king with $2400/week

But maybe not in swiss or Norway

[rjclarke2000]

to be a millionaire with 100 BTC the price should rise higher than $10,000 per BTC to only have 1 mil. and i highly doubt that the price can rise that high by 2020.

Oh ye of little faith.



https://bitcointalk.org/index.php?topic=831547.msg9293350#msg9293350

I can wait until 2024 to get my 5 million dollars. Seems a good deal.  😉

[jason miner]

Who would have belived that the value of Bitcoins would reach as high as it is today.
Just goes to show how amazing bitcoin is and with unpredictable growth.

[uki]

to be a millionaire with 100 BTC the price should rise higher than $10,000 per BTC to only have 1 mil. and i highly doubt that the price can rise that high by 2020.

Oh ye of little faith.

-snip-

https://bitcointalk.org/index.php?topic=831547.msg9293350#msg9293350

This regression curve has too little input data to make any realistic predictions for the future. If you look how wrong the predictions were in comparison to the reality so far (2081% above the regression line, 81% below of the regression line), you shouldn't expect that this line will be any close to the real price in the future.