Quote from: checkers6676 on April 06, 2013, 06:28:08 PM

Quote from: wachtwoord on April 06, 2013, 05:45:24 PM

Quote from: Luckybit on April 06, 2013, 05:22:59 PM

Quote from: wachtwoord on April 06, 2013, 05:18:00 PM

Quote from: calian on April 06, 2013, 08:41:06 AM

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.

Yes I read it a couple of years back, it opened my eyes (further) for the possibilities.

Quote from: Luckybit on April 06, 2013, 05:08:38 PM

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.

So I presume you maxed out all loaning possibilities and are working 3 or 4 jobs at the same time to make as much money as possible and buy coins at these prices? If you do this, and your premise is correct, you won't have to work anymore after that. In fact, you'll probably never have to doubt about any purchase ever. And if you recalculate the hourly wages this based on you projected 12-24 month Bitcoin appreciation the rates will be immensely high.

I sold everything I own (worth selling, anyway-mostly electronics and furniture), took equity out of my house, and am putting money from my job into btc each week. I didn't take out loans, that way if I'm wrong, I only go to $0 and not negative with no way to pay back. But yeah, all aboard, see y'all at $5000USD

watch out for a wallet hack, now that you've told everyone lol.