Bitcoins as retirement?

Even celebrity investors like the two US venture capitalist Marc Andreessen and Ben Horowitz are now investing in Bitcoins. The digital currency is for 7 years and has had a turbulent time behind itself. Investors who covered the end of 2011 with Bitcoins can look forward to a rate multiplier, because today have a Bitcoin approximately 550 € to be paid – the end of 2011, the crypto currency was traded from 2 € to 4 €.

This raises the question whether Bitcoins are also suitable for retirement, after all paper currencies like the US dollar and euro nor covered by the gold standard as the cyber currency. To answer this question, a look at the pros and cons or the functioning of Bitcoins is necessary.

Advantages of Bitcoins

  • Bitcoins can be exchanged in euro or other currencies at any time sharing (Bitcoin.de, Anycoin etc.). Bitcoins are not printed by a central entity (Fed) arbitrarily, but are free and independent of the banking system.
  • Bitcoins are relatively inflation-proof because the cyber currency can not be increased as paper money arbitrarily, but is limited to a total of 21 million units.
  • With Bitcoin transactions are no or only very low transaction fees

Disadvantages of Bitcoins

  • Bitcoins are not accepted everywhere (shops, restaurants, etc.), even among the population, the digital currency is not particularly widespread.
  • The value of Bitcoins fluctuates sometimes very strong and is based on supply and demand. Sinks interest in Bitcoins, this can theoretically lead to a total loss.
  • Bitcoins can be stolen, when, for example, hackers gain access to the computer. Go Computer (HDD), smartphones or USB sticks lost on those Bitcoins have been saved, these deposits are usually lost.
  • Bitcoins are not registered deposit protection such as paper money in savings accounts, because Bitcoins are funds like gold and equities. In these cases, the legal protection of savings can not be upheld.

Conclusion: Bitcoins are not safe retirement
Bitcoins may exercise a certain charm due to the massive price increases of recent years for many investors, but Bitcoins should be no more than a speculative portfolio addition.

As retirement Bitcoins not come more in question – the reasons:

Although the idea of a non-bank currency, backed by a virtually tamper-proof block chain, may have a great future, but by the tradability of legal tender is the virtual currency still far away.

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