Ninjastic
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Board Economics
Re: Bitcoin as a Retirement Account
by
d0flaming0
on 02/05/2018, 14:58:37 UTC
Quote from: n2004al on September 26, 2015, 03:36:45 AM
Quote from: Itun on September 25, 2015, 07:48:49 PM
Quote from: n2004al on September 25, 2015, 04:14:43 PM
It would be a good idea? Anyhow I'm wondering from who do have the founds this employer? Who work with bitcoin today? I heard some people in Polonia but I don't know if they continue to do this after the drop of the price of bitcoin. Then when do you find the safety that the price of bitcoin will not go 2 us dollar in your time of retirement. What do you do in this case? I personally don't believe that but who knows the future? Third why don't do this with your fiat money of your country? It is not more secure this?   Wink

For the vast vast majority of bitcoin investors, they would have to use a service that have scheduled transfers/buys to do this.

i.e. Coinbase

With it you can schedule weekly purchases which can be sent to a multi sig vault

Although.. if you use this method, it still takes self discipline to not spend it too soon

The meaning of my post is who pay with bitcoin the salary and not where can be send the money from the work of the person. As I know no one paid with bitcoin (even coinbase itself) but with the real fiat money. So, to use bitcoin as a retirement tool must be someone which pay in this currency. Anyhow must be a way to realize this. Be paid in your country fiat money and then part of salary use to buy a quantity of bitcoin. Then those be save in a wallet. But even this it is not possible to realized because not from any country can be bought bitcoin and the fee are high. So can be expensive and not worth to do.
as far as i can understand, maybe it should be as well consider the risk of the bitcoin's price in the market and there is no guarantee to what will be its price for the next few years. even though you will tell us to be positive and trust its potential, yes it will rise but it will still be risky knowing that what if the price will go down? what will those retired people do? or when it rise at any moment what will the employer do? do they have to take back all their funds intended for the retired employees? i guess this can't be answered for now, and if someone will really do this it will be a very risky decision and choice for both the employee and the employer.