Any of you guys read Jacob Fisker Lund's blog before he stopped being early retired? Basically he made about $40,000 a year as a grad student, lived on about $7,000 a year and saved the rest for 5 years before becoming financially independent. Seems like he could have done it in two years if bitcoin had been in the picture.
http://earlyretirementextreme.com/I've had this vision of selling all one's possessions for bitcoin, getting down to just what would fit in a backpack and travelling the world for 3-5 years waiting for full valuation to arrive.
How many BTC precisely would it take? Certainly buy some, but sell all your possessions? Be miserable for then next 3 years? How many BTC would that take?
At a price of $200 per coin, and you buy 25 coins, 5000/200=25, you'll need $5000 just for 25 coins. At this point in time $5000 is reasonable, but it wont be reasonable to get 25 coins when the price is $1000 per coin and it could reach that price by the summer. Suddenly 25 coins is $25,000 and only the most elite rich people can afford it. Of course you could just save your coins and that's wise, as BTC is best for savings anyway.
The question is how many coins would it take to retire in 5 years? 25 probably isn't going to be enough. 100 on the other hand and you'd be set for life. Each coin would probably be $50,000. If you have 100 then thats like having a salary of $50,000 per year for the rest of your life, you can retire with 100BTC. You can't retire with 25 BTC unless you're in your 50s-60s.
