pension fund or not ?

[bracek]

how would you qualify 50 btc holding as retirement plan ?

I have a few friends 30 years old, they bought only so much with intention to hold for 10 years or more.

they do have their jobs and all , but that will surely not be enough as it seems.

Should they buy more ?
they are stretching their budgets even now...

basically, speculation is
will it be possible to live of of 0.5 btc per month 20-30 years from now ?

[Kupsi]

I believe it's enough

[adamstgBit]

how would you qualify 50 btc holding as retirement plan ?

I have a few friends 30 years old, they bought only so much with intention to hold for 10 years or more.

they do have their jobs and all , but that will surely not be enough as it seems.

Should they buy more ?
they are stretching their budgets even now...

basically, speculation is
will it be possible to live of of 0.5 btc per month 20-30 years from now ?

NO BALLS!

[Serge]

Buy X amount every month. By the time pension comes it could be pretty nice savings jar


unless bitcoin prices shoot up 1000x of what they're worth now, 50 BTC won't cut it. and if it does, who knows how much of it inflation will eat up

[notme]

how would you qualify 50 btc holding as retirement plan ?

I have a few friends 30 years old, they bought only so much with intention to hold for 10 years or more.

they do have their jobs and all , but that will surely not be enough as it seems.

Should they buy more ?
they are stretching their budgets even now...

basically, speculation is
will it be possible to live of of 0.5 btc per month 20-30 years from now ?

NO BALLS!

+1

All in, only accept btc for your time, or go home.

[niko]

Buy X amount every month. By the time pension comes it could be pretty nice savings jar


unless bitcoin prices shoot up 1000x of what they're worth now, 50 BTC won't cut it. and if it does, who knows how much of it inflation will eat up

We know exactly how much of it inflation will eat up - it's hard-coded into the protocol.

In my most optimistic estimates, bitcoin will be valued at few thousand 2012 USD, so my current opinion is that BTC50 will not do the job, no matter what. Besides, why would anyone put all their retirement savings into a single asset?

[Serge]

Buy X amount every month. By the time pension comes it could be pretty nice savings jar


unless bitcoin prices shoot up 1000x of what they're worth now, 50 BTC won't cut it. and if it does, who knows how much of it inflation will eat up

We know exactly how much of it inflation will eat up - it's hard-coded into the protocol.

In my most optimistic estimates, bitcoin will be valued at few thousand 2012 USD, so my current opinion is that BTC50 will not do the job, no matter what. Besides, why would anyone put all their retirement savings into a single asset?

I didn't say put all your retirement savings into it, I said X amount, which could be 10, 50, 200 or w/e else a person is comfortable with putting aside with bitcoin

[Shadow383]

If you're investing for something like a pension, diversity is the key.

BTC could fail, the US dollar could fail (it'll certainly depreciate), gold price could skyrocket or drop, we could have a market boom or a massive crash.

You need to keep your funds mobile and spread around enough that no event will leave you with no pension.

Holding some BTC to be a part of a pension fund? Sure why not, although the decade-plus horizon for BTC is unclear at best.
Holding some BTC as the entirety of a pension fund? No. Crazy. Way too volatile for that.

[istar]

If Bitcoin does not fail or somehow is made illegal in the US, which does not have to matter in the long run.

A Bitcoin can be worth easily 2012 $5000 in 20 years. Thats just the Facebook value if applied to Bitcoin.
And Facebook became worth that much in 10 years.

If Bitcoins stays legal in most part of the earth which it should.
They sky is the limit.

In 35 years, if both the dollar or and the Euro and the chinese currency have crashed they can easily be $200 000 each.

You need to take into account that there are lots of "positive" effects built into the system.
Almost everyone who buys Bitcoins wants to make a profit and the majority will thus not sell at a loss.

This could easily create an strong upward spiral. That will pull in more and more investors and people as they witness this happens.

Some will even protect their value by placing bidwalls.

All it takes is for 100 000 people to own 210 Bitcoins each and they will have them all.
Still for the economy to work, they need to be spread among many more.

And for this you have the network effect. Which on the internet can go quick.

If there are 100 000 who use Bitcoin today, each gets only 4 persons to understand and invest in Bitcoin.
There is a 4 times increase in the amount of people.

Value goes to 40.

Next year everyone gets 4 new, and this year Bitcoin reach a million users.

Value goes to 160

Next year 4 million. Now the news might start to pick it up seriously.

Value goes to 656

Next year 16 million.

Value 2624

Next year 64 million.

Value $10,496

Thats in 5 years

Not impossible that this will happen over 35 years if Bitcoin is still here.

There is certainly enough money for this to happen. Since it wont have to be spent on 21 million coins.

But Bitcoin could be at only $1500 in 35 years.






 

[thebaron]

I agree that a lot of the future of BTC is hedged on how hard the governments of the world will try and crash down on it.

For instance, it's a looming possibility that US banks and money transmitters will stop dealing with anything having to do with BTC in about a year due to government pressure and/or fraud. I don't think they'll actually make buying/using them illegal, but it won't be easy to buy them online anymore with US funds.

If someone is savvy enough to set up a network of clandestine cash-to-BTC locations across the US by then, they stand to make a fortune if they can minimize any criminal liability from doing so.

[ldrgn]

If you're investing for something like a pension, diversity is the key.

BTC could fail, the US dollar could fail (it'll certainly depreciate), gold price could skyrocket or drop, we could have a market boom or a massive crash.

You need to keep your funds mobile and spread around enough that no event will leave you with no pension.

Holding some BTC to be a part of a pension fund? Sure why not, although the decade-plus horizon for BTC is unclear at best.
Holding some BTC as the entirety of a pension fund? No. Crazy. Way too volatile for that.

I have quoted this post in its entirety as it is the only post in this thread the OP should read.

[cbeast]

I would buy bitcoin and gold. The Bitcoin only needs to be encrypted to be safe. The gold I would melt into bullets and keep them loaded in a high cap magazine concealed and ready. :p

[capsqrl]

If someone is savvy enough to set up a network of clandestine cash-to-BTC locations across the US by then, they stand to make a fortune if they can minimize any criminal liability from doing so.

This is why everyone should register on localbitcoins.com and offer to both buy and sell btc locally there, even if they don't need it personally at the moment. It makes btc more "liquid" and more available in a way that is very hard for authorities to crack down on.

[notme]

If someone is savvy enough to set up a network of clandestine cash-to-BTC locations across the US by then, they stand to make a fortune if they can minimize any criminal liability from doing so.

This is why everyone should register on localbitcoins.com and offer to both buy and sell btc locally there, even if they don't need it personally at the moment. It makes btc more "liquid" and more available in a way that is very hard for authorities to crack down on.

I'm listed and have been for a while, but if the authorities want to crack down public buy/sell offers will get you two hots and a cot.