Post
Topic
Board Bitcoin Discussion
Re: How much btc do you need to secure your future?
by
wxa7115
on 29/12/2020, 17:37:25 UTC
Obviously this depends on where you are located.  Such as if you live in an expensive place in the US or Canada, then its a lot more than in other countries.  Also if you are young, middle age or older.



I always felt the number had to been minimum 10 if you asked me this years ago.  But now with news articles and videos saying btc true value is somewhere in the 300-400k range... well that 10 btc number certainly is a bit high.  I guess the number probably is minimum 5?  Then again you hear old videos where people say... just make sure you have just 1 bitcoin...as that is enough.  Thus if it goes to 1 million dollars... well that is a lot of money.  Even after taxes, that is a lot.   But when people say its half a million or a million, well then that number could drop to say 2 or even 3.



And i see many people on this forum talk about not having 1 btc and its their goal to get 1 btc.  Obviously back then, it was much easier with the low prices.  But now... anyone who wants 1 btc need to spend 25k... thats a ton of money for most people and most people don't even have that in their savings.  But for someone who is from the West... thus in the US or Canada... what number would you say that should be?  Of course it could be in a wealthy country in say Asia, Europe or Australia.  But you get my point.  I got to assume if you talking about 10 years down the road or more... it has to be minimum 5?  Or minimum 10?  Or is 10 a bit too high?

That is a difficult question because there are many variables, as you say the place where you live is one, and your age is another, after all you are not going to need the same amount of bitcoin if you are 20 than if you are 50, another factor is your lifestyle, there are many people that want to live a very high lifestyle and buy lambos and stuff like that and for that you need a lot of bitcoins but if you are content with having a middle class kind of life then your need for bitcoin goes down considerably and the final factor is how long will you hold, if you are willing to hold your coins for a decade I have no doubts that you could sell for 100k+ which reduces your need for exorbitant amounts of bitcoin.

With all of that in mind I will probably need only 5 BTC and I will use some of it to invest in stuff that generates cash and then keep the rest for eternity.