I keep hearing the meme that if you accumulate .21 BTC you are set for life. Is this a real thing or is it wishful thinking??
Discussion
If you live a simple life, it's perfectly feasible.
I think that depends on your timeline. Most Bitcoiners think the price will be in the multi millions but nobody knows exactly when that will be.
08/28/2028 at the latest is very likely. Assuming world war 3 doesn't break out, or another pandemic or major nation state attack at the mining network occurs.
On a long enough time frame…sure.
depends on your age. for people around the 40s, i think it will allow you to pay most of your expenses in retirement.
Depends what your goal is And timeline
If you have that much bitcoin, technically, you are 1 in 100 million
You're not set immediately for life right now. That takes something like 21 Bitcoin.
I think it was nostr:nprofile1qqsxc56ajk5xtxerf4dqspgrfa0s5elrcr80lnz9nasldq87j3zzf0cpzdmhxue69uhhwmm59e6hg7r09ehkuef0nlyql2 I heard recently say they have a lot of tricks they can pull out of the hat.
Five or six years ago I would have agreed that someone with only .21 btc would be set but it feels like that timeframe has been pushed out significantly. USD keeps "kicking out on the two-count".
Totally delusional
Bollox
By the time .21 is worth multimillion, multimillion won’t be worth shit. I think it’s wishful thinking. Maybe in your kids or grandkids lifetime not ours.
Sure, if you wait long enough
Depends how old you are
Based on my model, any amount makes you set for life if given enough time but let's do the math for ₿0.21.
₿0.21 ≈ $17,000.
Growth rate of bottom over the long term = 1.002046 compounding daily.
Held for 10 years the equation looks like this:
$17,000 * 1.002046^3650 = $29,516,750.70
Given expectation of the average 6.8% dollar debasement annually seen over the long term, the dollar will lose:
100/106.8 = 0.9363 or 6.367% spending power lost annually.
1*0.9363^10 = 0.5178 or 51.78% of value remaining.
$29,516,750.70 * 0.5178 = $15,283,357.82 of today's spending power.
So yes, if my model is correct then ₿0.21 would make someone set for life in 10 years. Hell, it would make someone set for life much sooner than that, but you get the point. 🙂🫡
☮️🧡₿
Seems delusional or you need to wait 20 years.
You’ll probably want more than bitcoin to be considered “set for life”
the meme number keeps getting lower which tells you something
0.21 BTC is one hundred millionth of all bitcoin. All the money today is about $115T. If bitcoin replaced all the money, it would be about 1.15 million dollars. If you think that much means you are set for life, then yes.
6.15
Not a real thing. A recent meta-analysis has revealed that we are all at different places in our lives. In a separate meta-analysis it has been revealed that Coca-cola is indeed the real thing.
Define set for life.
Is this a legitimate question or are you just engagement farming?
I see no reason why someone couldn't retire on 0.21 Bitcoin if they hold it for about 20 years.
I believe a similar number can be derived by figuring out how much bitcoin would be needed to claim to be in the wealthiest 1% of world population. I think once accounting for lost coins, the number ended up being around .25 bitcoin. I made a point of securing at least that much for myself and each of my children as an early stacking goal.
That's the real magic to it - if it helps you by giving yourself a goal to work towards, then it might be priceless, regardless what the actual number is.