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Author Topic: How much BTC do you need to live at your level rest of your live without working  (Read 4274 times)
dree12
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August 03, 2012, 04:35:30 PM
 #21

I want about $100k/year. This works out to about 10,000btc/year. Pirate pays 6.5% per week compounded weekly, so I just need 10000/(1.065)^52 or about 379 bitcoins to retire.

So i guess you just intend to live off your compounding bitcoins without spending any ?

That's an interesting task you have set yourself.
Fjord means that only 379 BTC a year is needed. On the first day of the year, deposit 379 BTC, on the last day withdraw it all.
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cytokine
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August 03, 2012, 09:35:39 PM
 #22

I think all it takes is 20K BTC, but that's highly speculative based on the idea that BTC value will increase and interest rates stay high for a while.

If you are able to earn at least 1%/week on that, that's 200 BTC/week. Then, assuming the amount you can earn by lending out that btc is reduced each week in the future as the market is saturated (plus defaults on loans), you'd need to re-invest at least half your earnings just to keep your future earning potential the same, which still leaves you with around 100 BTC/week to spend, which is $4,000 USD per month @ $10 a coin.

Of course, interest rates will probably fall even more than that, but assuming $100/coin, you could reinvest 90% of your earnings and only spend 10% and still have $4K USD per month in spendable income.

That's enough to live on. So if you've got ~200K USD lying around, and want to be able to potentially retire on that completely, investing in the BTC economy now and aggressively reinvesting your earnings for the next few years is your best shot to make that happen.

Just my .02 btc
Sunny King
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August 04, 2012, 10:42:55 PM
 #23

I think a better way to ask is how much BTC we need to free ourselves from mundane work and do more important (maybe unprofitable) things for a change  Wink

Earning interest is not the way though. Remember interest bears the risk of losing your principal. So you would likely lose a lot of principal at some point in your lending career.  Tongue Overall you cannot expect it to work out like the exponential function, rather more like another job in the marketplace.
Comepradz
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August 19, 2012, 02:58:18 AM
 #24

I am a vampire I am immortal
Vampire do Bitcoins

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Oinsane1
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August 22, 2012, 05:23:18 AM
 #25

I would retire with 500 Million US dollars worth.. o anything really

thats fuck you money for me
Fjordbit
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September 13, 2012, 05:55:51 PM
 #26

I want about $100k/year. This works out to about 10,000btc/year. Pirate pays 6.5% per week compounded weekly, so I just need 10000/(1.065)^52 or about 379 bitcoins to retire.

Oh noes, my retirement plan has failed. I guess I'll just live on Social Security...
szuetam
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September 14, 2012, 06:38:48 PM
 #27

I want about $100k/year. This works out to about 10,000btc/year. Pirate pays 6.5% per week compounded weekly, so I just need 10000/(1.065)^52 or about 379 bitcoins to retire.

Oh noes, my retirement plan has failed. I guess I'll just live on Social Security...

Not true actual due to pirate default.
Jermainé
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September 17, 2012, 01:05:50 PM
 #28

As far as i can tell bitcoin doesnt hold actually wealth but is based on the worth of other currencies around the world.
szuetam
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September 17, 2012, 01:19:44 PM
 #29

As far as i can tell bitcoin doesnt hold actually wealth but is based on the worth of other currencies around the world.

As far as i can tell bitcoin doesnt hold actually wealth

Hmmm... if I have 10000 I can buy good car.
It's wealth for me.

As all fiat it has no gold or any other security, it's power comes from  technology, and prices comes from Bitcoin economy.
But...  what the hell it's connected with topic?
Fjordbit
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September 17, 2012, 03:30:31 PM
 #30

As far as i can tell bitcoin doesnt hold actually wealth but is based on the worth of other currencies around the world.

As far as i can tell gold doesnt hold actually wealth but is based on the worth of other currencies around the world.

As far as i can tell stocks and bonds dont hold actually wealth but is based on the worth of other currencies around the world.

As far as i can tell real estate doesnt hold actually wealth but is based on the worth of other currencies around the world.

As far as i can tell money doesnt hold actually wealth but is based on the worth of other currencies around the world.

As far as i can tell these statements make no sense. Everything has a value listed in other currencies. It doesn't mean there is a basis of value in those currencies. The value of bitcoin comes from the equilibrium of bitcoins offered for sale versus bitcoins requested to buy. I've written in the Economics forum on this topic.
SgtSpike
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September 17, 2012, 03:40:11 PM
 #31

$3,300/month, or about $40,000/year.  Assuming a 10% interest rate on investments, I would need about 40,000 BTC to retire.
Explodicle
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September 17, 2012, 04:15:42 PM
 #32

[Warning: poster is batshit crazy]

I think bitcoin is hastening a technological singularity, so saving it for the "rest of my life" seems impossible to determine right now. I'll work until my services are no longer required, at which point I'll have to calculate what speed I can run at while living off deflation indefinitely.

[/crazy]

I understand how nuts this sounds, so when pitching bitcoin to people I kinda don't mention what I plan on doing with mine. Tongue
szuetam
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September 17, 2012, 05:38:25 PM
 #33

[Warning: poster is batshit crazy]

I think bitcoin is hastening a technological singularity, so saving it for the "rest of my life" seems impossible to determine right now. I'll work until my services are no longer required, at which point I'll have to calculate what speed I can run at while living off deflation indefinitely.

[/crazy]

I understand how nuts this sounds, so when pitching bitcoin to people I kinda don't mention what I plan on doing with mine. Tongue

I like it. Smiley

Still, could you try to roughly estimate some numbers? Smiley
Just give a guess.

Explodicle
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September 17, 2012, 06:06:31 PM
 #34

[Warning: poster is batshit crazy]

I think bitcoin is hastening a technological singularity, so saving it for the "rest of my life" seems impossible to determine right now. I'll work until my services are no longer required, at which point I'll have to calculate what speed I can run at while living off deflation indefinitely.

[/crazy]

I understand how nuts this sounds, so when pitching bitcoin to people I kinda don't mention what I plan on doing with mine. Tongue

I like it. Smiley

Still, could you try to roughly estimate some numbers? Smiley
Just give a guess.

I'd guess that someone with more than ~100K BTC today should already be rich enough to live indefinitely, barring unforseen problems. But that's a very uneducated guess.
Rygon
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September 17, 2012, 07:16:20 PM
 #35

I want about $100k/year. This works out to about 10,000btc/year. Pirate pays 6.5% per week compounded weekly, so I just need 10000/(1.065)^52 or about 379 bitcoins to retire.

Oh noes, my retirement plan has failed. I guess I'll just live on Social Security...

Not true actual due to pirate default.

Pirate default bankrupted Social Security?!?
szuetam
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September 17, 2012, 07:35:15 PM
 #36

I want about $100k/year. This works out to about 10,000btc/year. Pirate pays 6.5% per week compounded weekly, so I just need 10000/(1.065)^52 or about 379 bitcoins to retire.

Oh noes, my retirement plan has failed. I guess I'll just live on Social Security...

Not true actual due to pirate default.

Pirate default bankrupted Social Security?!?

No. Smiley
FreeMoney
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September 17, 2012, 07:45:08 PM
 #37

[Warning: poster is batshit crazy]

I think bitcoin is hastening a technological singularity, so saving it for the "rest of my life" seems impossible to determine right now. I'll work until my services are no longer required, at which point I'll have to calculate what speed I can run at while living off deflation indefinitely.

[/crazy]

I understand how nuts this sounds, so when pitching bitcoin to people I kinda don't mention what I plan on doing with mine. Tongue

+1

I plan to be crazy for a very long time.

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