Quote from: bitserve on January 18, 2020, 05:09:39 PM

Quote from: AlcoHoDL on January 18, 2020, 03:57:17 PM

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Out of curiosity, what amount would you (or other fellow WOs) consider a healthy stash that one should have in order to realistically achieve financial independence? I know that it depends on country of residence, lifestyle, etc., but would love to hear your opinions on this.

Well, as you have correctly said, it depends on many factors so first you would need to think in FIAT terms (which is how most mundane things are priced) and establish a goal.

Let's say you come up with $1million as nice round number. Again, this could as low as $500K in some countries and just for a very modest lifestyle up to $5 million for US, with many years to live, and with a nice lifestyle.

ANyway, as I said, let's use the $1 million figure. So then, if you have 10 BTC, you would need a solid $100K price to reach that goal. Or just less than $50K if you have the "classic" 21BTC.

Most people with a three digit amount of BTC, we could consider they have already almost made it. Two digits... maybe soon, if we get lucky in the next few years.

Everyone needs to make their own numbers. And also remember that there is no guarantee of anything.

Of course that is if someone decides to cash out everything (or most) when the price target is reached. Which is not what I would suggest to do.

It would be much more reasonable, yet risky, to just keep cashing out as needed, even if you already reached your "goal". More so if you expect Bitcoin will keep rising during the next years or even decades.

Also, who said someone that just arrives right now to Bitcoin with barely any savings could easily just come and retire by investing what he can? That's not how the world (or nothing) works.

I understand the "retire" and "financial independence" point... but no, no one has any guarantee of that. And the only ones that have been in that position thanks Bitcoin it is either because:

1- They were extremely lucky in their entry point and/or decisions
2- They arrived later but they took the risk of investing a sizeable amount of money.
3- They hodled for MANY years. (ie. I am now on my 7 year some others way longer).

Bitcoin was never intended to be a get rich quick scheme, even if it resulted like that in some cases. For most it won't be a "retirement level" profit, just a better or worse investment.

As a final note I think I can give you the following great advise: https://bitcointalk.org/index.php?topic=1924731.msg19097436#msg19097436

IOW, I don't think you really need any additional advise from me.

Thanks for the reply. As you said, a nice, round $1 million would be more than enough for most people in most countries. I believe the "classic" 21 BTC is a good amount to have, which makes the above goal almost a certainty. As for me, my stash has increased since that post of mine that you've quoted, but still in double digits (*), so I guess I still have some way to go before I can consider myself financially independent, whatever that may mean to each one of us. I can safely say, however, that if when BTC/USD reaches or exceeds $100k, my personal goal (not necessarily the one stated above) will have been reached by a good margin.

(*) The above is purely hypothetical, I forgot my passphrase, all coins gone, now only have what's left in my Kraken account (around 1000 Doge I think)...