For the first time, the gold's value has been surpassed by Bitcoin's value. In line with that, delfationary properties of Bitcoin have become more pertinent as phantom of inflation is starting to lurk in Europe Area and United States. As a result on that many happening, the idea of using savings of retirement for BTC is a bit toehold.
The thought of retiring on BTC is already an old idea. It has been all over the community as topics of cryptocurrency.
The question of number of Bitcoins being required in order for someone to retire is already having standard in the forum of the community. An example for that was in April of 2014 where he asked about how many Bitcoins needed to retire after 20 years. A user named Tron replied that the safe number would be 2 Bitcoins as requirement.
Due to stellar performance of the digital currency, a lot of individuals are now tempted to have more exploration on the thought of using Bitcoin for the purpose of retirement.
Markb one of the community user in Reddit prepared a certain kind of computations that will figure out on how many BTC you have to acquire before the retirement. An example for that is the assumptions of Markb that the value of BTC will double per year and would reach out on one million dollars and you just need thirty-two thousand to live with it.
One thing to consider if you think Bitcoin is the best on your retirement is to learn the basics of money and in that case BTC will be diversifying your savings of retirement.
You savings strategy will be affected with inflation and that is a huge risk on your retirement plan on Bitcoin. That is the reason why there are danger of inflation arising the increase of their savings with every year passing.
United States and the Eurozone were one of the areas that is now starting to be affected with inflation factor and it's growing at certain rate.
It already reached 2 percent in Euro Area in February this year. The expectations of Central bank is way lower than this rate as reported by BBC.
The rate also in the United States increased to two point five percent year after year in January of 2017 from a two point one percent addition last December. The increase actually is way more higher than what has been expected in the market according to Trading Econ.
These inflation rates though is way more and more lower compared to Sudan and Venezuela that has inflation rate respectively of 475% and 476% last year.
Using some calculators you can also compute and estimate your income in the future considering that there's an inflation rate.
BTC is deflationary, a key feature that is more relevant and makes the cryptocurrency unique. It is considered as antidote for those countries who are suffering inflation or started to suffer inflation.
Bitcoin will be a cool tool to lessen the risk of inflation because there are only 21 million Bitcoins out there and the production will not exceed on that number. Assuming that the last Bitcoin will be acquired, it will be on the year 2140 in the future.