Any of you guys read Jacob Fisker Lund's blog before he stopped being early retired? Basically he made about $40,000 a year as a grad student, lived on about $7,000 a year and saved the rest for 5 years before becoming financially independent. Seems like he could have done it in two years if bitcoin had been in the picture.
http://earlyretirementextreme.com/
I've had this vision of selling all one's possessions for bitcoin, getting down to just what would fit in a backpack and travelling the world for 3-5 years waiting for full valuation to arrive.
http://earlyretirementextreme.com/
I've had this vision of selling all one's possessions for bitcoin, getting down to just what would fit in a backpack and travelling the world for 3-5 years waiting for full valuation to arrive.
Yes I read it a couple of years back, it opened my eyes (further) for the possibilities.
The question is how many coins would it take to retire in 5 years? 25 probably isn't going to be enough. 100 on the other hand and you'd be set for life. Each coin would probably be $50,000. If you have 100 then thats like having a salary of $50,000 per year for the rest of your life, you can retire with 100BTC. You can't retire with 25 BTC unless you're in your 50s-60s.
Please do not assume $50000 per coin. That requires a valuation of ~1T$ which is a lot (I'm assuming 4-6-2013 US $ wrt buying power). Of course one can't help but dream
1T$ isn't really a lot. $5000 per coin is reasonable over the next 12-24 months. It probably will hit $5000 by Jan 2014.