Post
Topic
Board Economics
Re: Bitcoin retirement account
by
xSkylarx
on 25/11/2020, 09:48:53 UTC
Some organizations are offering this type of service now in which you can be able to save usually 10% or more of your earnings into the retirement account, some other cryptocurrencies are also offered like ether, litecoin and bitcoin cash. I believe this type of bitcoin investment plan lacks privacy, but I think it is cool as the fiat paid lacks privacy already but the main advantage is that bitcoin being a deflationary currency will be best for this kind of account unlike fiats that will still appreciate over long time period, bitcoin will only appreciate (increase in price over a long time period.

What do you people think about bitcoin retirement accounts? I think it is cool and can also increase bitcoin adoption.

Although, we should still remember that bitcoin is meant to be a privacy coin, not your private key not your bitcoin.

I don't agree with this concept. Bitcoin is very volatile, you can't guarantee it's value by the time when you retire. Bitcoin is our own bank so we have a freedom how much and when we will put some money to it. Like what I'm doing, I've been accumulating bitcoin since 2013 if I have some extra money from my salary hoping that it will secure my future when I can't work anymore.