Quote from: MRlong on October 01, 2017, 09:22:28 PM

Quote from: Silberman on October 01, 2017, 06:47:09 PM

Quote from: entrepmind23 on September 20, 2017, 01:42:22 AM

Quote from: bahandhi0508 on August 06, 2017, 10:51:23 PM

Please help me make clear idea about how good bitcoin is to be a digital asset as we become old in the future, and this served as our lifetime asset same as pension when your retire from your current job at the age of 60.

Bitcoin is a good lifetime asset because its getting popular and its value is increasing though there are dips from time to time but after the dip, it will rise again higher than the previous highs. It may be an attractive way to invest on it for retirement but do not just depend on it because we never know what the future will be for bitcoin. Maybe another cryptocurrency would dominate its world or another technology that would be develop that will entice more investors to invest on it.

It would be better to have an alternative income aside from bitcoin like when you are still young, you will start investing on insurance or other investment vehicle that you could rely on in time when you are not able to work anymore. You can also have a business that will be manage by you or some of your trusted people as a source of income also.

You do not have to invest everything in bitcoin if you do not want it, however the temptation to do that is great since there are very few other investments that can give the profits that bitcoin can, just in this year bitcoin went up more than 300%, where can you get those profits? In a bank and their ridiculous 1% or 2% per year? It will take a lifetime to get the same results.

In my country, the profits from save money in bank below 1%, so if I can earn a profits as 50%, I can save my time is 50 years through trade Bitcoin instead of save my money in bank and wait 50 years to have that profits, lol Roll Eyes

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Technically it will be sooner because of the formula of compounding interest, assuming that you reinvest the interests you got from the banks but you are correct overall, banks cannot give to us anything close to what we are earning with bitcoin ,this is why many people are realizing how silly is to have their money in banks and are choosing to invest in bitcoin instead.