Can you retire on 1 Bitcoin?

[oatmeal]

So let's say the Bitcoin crash continues and it hits a low point of around $20K.
What if you buy 1 bitcoin then at that price and hold onto it for a couple years when
ARK's Cathy Wood's prediction of BTC hitting up to $500k comes true?

People spend 30 or 40 years or more to save up 500 grand. It seems kinda "too good to be true" and unfair that in just a matter
of a few years, you can make 500 grand or more if you get lucky in crypto.

This reminds me of playing video games.
You spend hundreds of hours playing a game honestly, putting in the legwork, doing your due diligence to build your wealth via the rules
of the game. You dedicated 2 or 3 years of your life playing 8-11 hours a day cuz your young, unemployed and your parents pay everything
for you. Then some hackers come along and release new hacks for the game where they can make in just 2 or 3 days what you made in 2 or 3 years.
Now everything you worked hard for becomes shit because hackers exploit have made your items valueless since it is not rare anymore or so many people have it thanks to the hacks that made it plentiful or easy to acquire.

Yeah that happened to me in Maplestory, this is my story of how I quit playing MS back in the day lol.

 

[Cloutsy]

My thought is, with $20k you can easily start a business a create a long life residual income that way. The risks are probably still in your favor in you learn so much more.

 

[macdonjo3]

My thought is, with $20k you can easily start a business a create a long life residual income that way. The risks are probably still in your favor in you learn so much more.

But people don't want to put in the work so bitcoin it is.

I'm with you though. Everyone I know IRL that's in bitcoin are the kids who kinda slacked in school, live with their parents, etc and just want to get rich fast. They just post Elon memes and shit from their parent's basement. Odd but whatever.

 

[dreadpixel]

500k prediction is low. It will cost 1 million USD in a couple of decades.

 

[Tipitip]

It’s a good investment but you should maybe until bear market starts.

 

[HenryObi]

My thought is, with $20k you can easily start a business a create a long life residual income that way. The risks are probably still in your favor in you learn so much more.

Yea, if you know what you're doing with $20k the odds are in your favor.

500k prediction is low. It will cost 1 million USD in a couple of decades.

You think there won't be government crackdowns?

The value of bitcoins can't be more than money available in the world.

 

[KJREDDY247@]

500k prediction is low. It will cost 1 million USD in a couple of decades.

In that case the total value should be
1 Million*21 Million
And it will be exchanged to any Fiat at the end
Like If someone buying 1 Bitcoin They pay 1 Million
The Buyer will Have 1 Million in the form of Coin and I have 1 million in the Form of Fiat
So it will be (1 Million*21 Million)*2 = 4.2e+13

That's a lot of money isn't it for a Single coin?
(My logic might be wrong but as per what I understand It should be the case if it works as it says)

 

[oldguyjoe]

If it comes back up and continue to grow, you might be able to retire on 1 BTC in some 3rd world country. I wouldn't dream about 1st world retirement amount. But your question is wrong at the core: you don't want to retire ever, retirement schemes are for people that work for others, you should be working for yourself and never retire.

 

[kingvestor]

once the regulator using the hard stick, those numbers only become an illusion. So trade it while still profitable, dont use hope or assumption

 

[vcc]

yes $500k Will comes true in dream but no possibility In real life, there is hundred of ALT coins and multi thousand shitcoins which are gaining power against BTC. also strike regulation Are coming soon!!
don't dream 500K, hope it won't go under 500$ in next 2 years.

 

[oatmeal]

If it comes back up and continue to grow, you might be able to retire on 1 BTC in some 3rd world country. I wouldn't dream about 1st world retirement amount. But your question is wrong at the core: you don't want to retire ever, retirement schemes are for people that work for others, you should be working for yourself and never retire.

Actually that is what I meant by retire. Retirement to me means that you retire from having to work for someone else and being their slave (work their hours and their pay). We all want to get to a point in our lives where we can retire from that system (unless you really love the system). When you retire at 35 or 40 years old, it doesn't mean you sit back and be lazy and just have fun until your dead. It means you can now put all your time and energy into the things you really wanted to do but never had the time and money to pursue it.

So yes, what I mean by retire off 1 Bitcoin is meaning so that I can quit my 9-5 job, Mon-Fri schedule and be free to live my life the way I want doing my own thing that I'm passionate for and love waking up in the morning to.

 

[oatmeal]

yes $500k Will comes true in dream but no possibility In real life, there is hundred of ALT coins and multi thousand shitcoins which are gaining power against BTC. also strike regulation Are coming soon!!
don't dream 500K, hope it won't go under 500$ in next 2 years.

You could be right, but that's a huge mistake then if ARK CEO Cathy Wood is completely wrong on that prediction. She's not some casual jane doe with an opinion...... she's actually been pretty accurate on all her predictions in the past. You gotta think she knows something more than the average joe blow that makes her think BTC can go up to 500k. She's not the richest woman in the world but she's wealthy...her net worth is 250 million. She's doing something right in her line of work in the investment world

 

[theRevolt]

You could be right, but that's a huge mistake then if ARK CEO Cathy Wood is completely wrong on that prediction. She's not some casual jane doe with an opinion...... she's actually been pretty accurate on all her predictions in the past. You gotta think she knows something more than the average joe blow that makes her think BTC can go up to 500k. She's not the richest woman in the world but she's wealthy...her net worth is 250 million. She's doing something right in her line of work in the investment world

But how many predictions did you read on BTC that were not true?

Here food for thought:
- You know horoscopes? Palm reading etc?

Why do they work? Because they use common sense shit and it will def apply to probably 50% of people so it looks good.

How do fixed bets work? Selling 50/50 outcomes...

It is easy to predict 10 times and be right 1 time, but what would have happened with your money the other 9 times? Look how many larger organizations are jumping on the bandwagon of predicting crypto etc.

If you got extra funds, you like to gamble anyway then def why not? Most suckers put in what they cant afford to lose and when it tumbles 40% they are fucked, because greed got the best of them.
I'd see crypto as speculation, maybe day trading equivalent at best. It is all still a gimmick, as I can do everything that any crypto project states they want to solve, TODAY with non-blockchain.
They have to prove their real live value, they profit a ton from the fucked up US system where evaluations are based on promise/FOMO (Nikola,wework,theranos), and not actual utilization and application now.

 

[onlinemarketer12]

Depends on the future price which is very hard to predict. I will say do not depend on that entirely.

 

[MisterF]

It’s a good investment but you should maybe until bear market starts.

It started or have you been sleeping?

It's dropped from $56k to $38k in 2-3 weeks.

 

[Tipitip]

It started or have you been sleeping?

It's dropped from $56k to $38k in 2-3 weeks.

Bear market started?

I thought it was just a big dip

Don’t you think it would go lover than 38k in the bear market?

 

[oatmeal]

But how many predictions did you read on BTC that were not true?

Here food for thought:
- You know horoscopes? Palm reading etc?

Why do they work? Because they use common sense shit and it will def apply to probably 50% of people so it looks good.

How do fixed bets work? Selling 50/50 outcomes...

It is easy to predict 10 times and be right 1 time, but what would have happened with your money the other 9 times? Look how many larger organizations are jumping on the bandwagon of predicting crypto etc.

If you got extra funds, you like to gamble anyway then def why not? Most suckers put in what they cant afford to lose and when it tumbles 40% they are fucked, because greed got the best of them.
I'd see crypto as speculation, maybe day trading equivalent at best. It is all still a gimmick, as I can do everything that any crypto project states they want to solve, TODAY with non-blockchain.
They have to prove their real live value, they profit a ton from the fucked up US system where evaluations are based on promise/FOMO (Nikola,wework,theranos), and not actual utilization and application now.

There is a lot of truth to what you are saying. We know that for every 1 win, there are probably 10 or 100 losses and we often only hear about the successes and not the failures.
But here's the question then you are raising by your dispute:

Does the average bloke off the streets with common sense have as good a chance of betting right on the market than millionaire investors?
If you are saying this, then I understand your point. Then nobody ultimately understands and knows anything about business and the market and how it all works and it's mostly just based on lucky timing
and the fact someone had more play money to start with.

But if proven and successful investors of the highest level are saying something, while they can always still be wrong, I would tend to believe what they know is a little better
than you or me or some armchair professional investor youtuber. All I'm saying is that if Cathy Wood is betting on BTC to go up to as high as 500k, I think there is a little something
there to peak your interest rather than to just brush it off like she's a palm reader or horoscopes entertainer.

 

[onlinemarketer12]

Bear market started?

I thought it was just a big dip

Don’t you think it would go lover than 38k in the bear market?

May be but this is quite a big dip already.

 

[Tipitip]

May be but this is quite a big dip already.

 

[Nikolaos]

So let's say the Bitcoin crash continues and it hits a low point of around $20K.
What if you buy 1 bitcoin then at that price and hold onto it for a couple years when
ARK's Cathy Wood's prediction of BTC hitting up to $500k comes true?

People spend 30 or 40 years or more to save up 500 grand. It seems kinda "too good to be true" and unfair that in just a matter
of a few years, you can make 500 grand or more if you get lucky in crypto.

This reminds me of playing video games.
You spend hundreds of hours playing a game honestly, putting in the legwork, doing your due diligence to build your wealth via the rules
of the game. You dedicated 2 or 3 years of your life playing 8-11 hours a day cuz your young, unemployed and your parents pay everything
for you. Then some hackers come along and release new hacks for the game where they can make in just 2 or 3 days what you made in 2 or 3 years.
Now everything you worked hard for becomes shit because hackers exploit have made your items valueless since it is not rare anymore or so many people have it thanks to the hacks that made it plentiful or easy to acquire.

Yeah that happened to me in Maplestory, this is my story of how I quit playing MS back in the day lol.

If BTC reaches 1 mil each yes you can retire.