Topic: Bitcoin as a Replacement for a College Savings Plan (Read 377 times)

If only every one would learn how to trade and how to use Bitcoin , then who will be the losers in the coming days because for someone to profit there must be a loser in their investment.
wondering if all the youngsters now will not go to college instead will just invest in bitcoin and other altcoins, who will build infrastructure in the future? who will be the laborer then?

This scenario might quite depend but it's different if you have the degree it your proof that you graduated, and earned knowledge and skills that can be used outside the school for your daily needs and life sustainability. People now are using skill base even you have credentials but in some cases not always like in others if you apply to work, knowledge or a degree too is an investment. Those degrees are your certificates to become a valuable person. If you have money like Bitcoin but are not too literate surely you will just spend those easily and vanish an instant. But use bitcoin as your extra savings and investment is ideal plan if you have already a good source of income.

This is a difficult choice, choosing one thing is never easy, and ideally it would be good to get a higher education and save a little for investment, even if it is a small investment, it can become something big in the future. Without a good education, it will be even more difficult to find a good job, and therefore you will have to work hard all your life.

Education will never be superfluous, despite the fact that now the situation is difficult and it is difficult to find a job in your specialty, but everything can change in the future. When I was studying, I found a temporary job and could save some money, there are always opportunities.

You have a great view of the future specially adding Bitcoin on it , I have a college student
now and yes Bitcoin also helped me saved for my second son that will be entering college also in the next semester .
so with this I completely support your idea here and hope next year as my son entering
college , I can pay at least first 3 years of His course from my funding for his education from bitcoin investing.

In my country I noticed the exact opposite, a Bachelors degree becomes the norm today and whereas maybe 10% of the young people went to university back in the days, it's probably 35-45% today. There are so many school schemes that offer your high school diploma during evening hours and even people who aborted school at a young age will come back later. Also the whole university landscape changed a lot in the last 20 years. A lot of so-called universities are working together with companies and offer applied degrees, where you will spend half the time working full time and half the time studying. The company will pay for your education and expects you to keep working for them after you finish graduation. Which is why I feel like that the Bachelor’s degree became mandatory for many jobs today. I am not so familiar with the various savings plans from insurance companies, but doesn't a life savings plan usually mean that you only get the money after retirement? In my country the whole concept of a life savings contract is that you get a certain amount of minimum expected return, and everything above that is not guaranteed and based on return of your assets. If you ask me, I would always prefer to invest the money myself and don't pay for all the fees for the insurance company. Saving on our own gives us all the freedom to buy crypto currencies and we can also withdraw money if it's needed.

The best college savings plan is to not go to college at all and to tell your bastard kids not to go to college either. Colleges promote violence. College is a SCAM! I know. I was a professor.

-Joseph Van Name Ph.D.

P.S. If you want to prove your intelligence, a college degree does not mean squat. Prove your intelligence by investing in a cryptocurrency with a mining algorithm that is actually designed to advance science.

A lot of people have shared their opinion on the topic, if we had a poll I believe 60% would be against the idea of the OP. For me, I think you should base your decision on the economy of your country and your values. If you are living in Nigeria, like me, or any third world nation for that matter, it would be a wise decision to skip college and use that money to invest in bitcoin and train your child on a skill. In Africa, the number of graduates per year is triple the amount of jobs available. Having a skill is more lucrative than a masters degree.

this is an interesting idea that will do more good to young people preparing for adulthood.

Imagine we invested all the money we are spending in school into something like bitcoin it any other thing, within the four to five years we stay in school, we would have saved or invested a huge amount of money. Like in my undergraduate days, what we spend a session for school expenses minus food is roughly $300, if you multiply it by five that should give you around $1500, if such amount is invested within 2 to 3 years, the returns would be reasonable to a very large extent.

I won't also go in that route. College Savings Plan is more tangible than having bitcoin investments.
As any crypto holding is a very risky investment, I won't jeopardize the future of my kids to something uncertain.
I would agree if you will just set aside a separate investment for btc or crypto, but hold onto the College Savings Plan.
Ensure the future of your kid rather than put it into a very volatile investment where you have no idea where will it be after few years of waiting.

Bitcoin can not be replaced by any coin in the market. It has it own uniqueness and that is what made it the giant of the market.
Investing in Bitcoin is very much better compared to altcoins that can end up becoming a rug pull. This is one of the reasons why many people had decided not to invest in the market especially after they have made several loses in the market. Bitcoin is safe and it uniqueness had made it the best coin in the market.

Having an educational background could help you in the future as companies would be aware of your potential as you have studied for years in a specific field. It is an advantage as you would know the basics and the complicated things that are included for the job which is why some Ph.D. and Law jobs take years to qualify for a board exam. Companies hire people for a role that can be applied and learned by anyone but they are seeking people with work experience, why? They are already exposed to the work industry, they are aware of the pressures and the tiring job, which the fresh graduates haven't experienced yet. They are looking for people who won't resign after a month of working in hell, one of the factors that they choose experience over knowledge.

what is discussed here is not the bachelor's degree, but the skills and experience of the job seekers, because what companies need are people with good skills and experience in the field they work in. because today there are so many people with bachelor's degrees and it is estimated that the number is increasing every year, and the problem is that most people with bachelor's degrees graduate with minimal knowledge about work in a company or other skills. even though companies need workers who are ready to work, because they waste too much time teaching people about various skills, that's why companies are now looking for workers with an orientation towards skills and experience, not titles.

I doubt that this would actually push through given the amount of jobs required to have technical and specialized skill which are taught in some degrees.

Sure, there may be jobs that may not require you to be a college graduate, but I do think that these are entry-level blue collared jobs. While this may also work in first world countries, having a degree in a third-world country is definitely essential and needed to at least guarantee you a paying and consistent job.


Remember that BTCs are investments. With its volatility, its price may increase/decrease at any given moment. While others may consider it a long-term savings plan, it should, however, be viewed as a moving investment. This means that you must take advantage of the sudden increase on its price because anything can still happen. Its unreliability is what makes it desired as a short-term investment; and the long-term part is considered due to the regular forks that happen every 4+ years.

It still talks about skills and what I convey is that work does not need to be seen from the extent of their education, but companies can hire someone based on skills. My country is still quite complicated regarding company criteria when accepting workers because they prioritize degrees rather than skills, even though there are still quite a lot of people out there who are not highly educated and have quite good skills in certain fields.

Not everyone is familiar with cryptocurrency so it is impossible for them to get the opportunity to work in graphic design, marketing, community management, business development, and technical skills for customer support like you are talking about. Although I agree there are lots of opportunities for people if they have skills in this area.

You don't need to agree with my view, if you fully understand what I am saying because it concerns the level of education if it is not necessarily needed for the issue of finding a job. Education is just a degree as proof that we have had formal education, because out there there are many people who are not highly educated who have succeeded in becoming business people and there are many people who are successful in the world of Entrepreneurship and so on.

If I told you that I know where you are actually driving at, I am telling a lie, and it's from the beginning to the end that you have been making surprising remarks. By the way, is it possible for entire companies in the world to abandon a college degree and opt for a PhD and lawyers only? That doesn't make sense, and for the record, there are companies that are only concerned about what you can offer them and not certificates per se, and there will always be spaces for a lower degree in all facets of the economy, that will never change for any reason, and this is not about a particular country, there will always be a need to hire from lowest to the highest rank while their paygrade and responsibilities will continue to differentiate them.

But for Bitcoin, it is a means to make money, so anyone can plan their present and future with it. However, one should still be very careful about it, we only know today, we do not know tomorrow. If I were you or anybody, I would diversify my portfolio and not rely on Bitcoin alone. Who knows what will happen in the near future? This is why it is wise for us to be careful here and when we have gained the advantage already, we should use it wisely even as we spread the risks.

You're right for the most part I think albeit some companies will definitely overlook the college degree requirement for the right candidate that shows the right kind of moxy that they're looking for. This opens up a wide net and i'm sure it'll come with some sort of pay decrease and have some reciprical effects to the professionals that actually have degrees.

You're absolutely right with the notion that you should just invest in both Bitcoin and Mutual Funds. I like that and it honestly should not ever be just one or the other but taking each into account and thinking of each scenario having both surely couldn't ever hurt.

Yes that's basically investing in Bitcoin, Bitcoin should have been a replacement since due to the features and quality of Bitcoin. If not for anything, for the fact that Bitcoin is decentralization should have qualified it to replace any investment plans we had prior to knowing about Bitcoin. The choice of choosing Bitcoin won't be a regrettable one. Bitcoin still has alot of fire left in it in regards to it's price appreciation. By the time those investment plans are due for harvest, the amount of wealth you would have generated, if you choose Bitcoin would be astonishing.

Although Bitcoin shouldn't be the only option for your investments and I'm not referring to investing on altcoins but you can diversify to other sectors that have the tendency to appreciate in values as well like real estate investment. You need to diversify so just incase things aren't what you expected when it's time for harvesting your investments you don't get demoralised. Nobody knows the future of the industry but we hope for the best and the best is what is going to come although having back ups aren't a bad idea

You can still combine everything though, that's investing in Bitcoin and also investing in college saving plans and still make profits from all of them due to them all been a good way of investing. Provided you're not wasting money but making investments with them, you're doing the right thing.

It’s a lifetime sayings right? Or should I say, a futuristic sort of savings as you’ve got to withdraw and enjoy your accumulations at some point in your life and so yeah. If that be the case, you could always down play the falls in the Bitcoin market because, it’s sure to rise as at when the time is due.

Where it poses a bit challenge is, when the coin is down and you have a red to make some withdrawal for a project, it usually comes with a lot of discomfort to activate any plan at such point. Having the literal understanding that your selling at a lose, that could be depressing but, it doesn’t mean you might not be in profit if your coin have survived some bullish runs.

Still, it’s better you understand what is at stake before you make a decision on what’s the best way to have your life savings.

Bitcoin is not a replacement for anything because it's its own asset class. It has different fundamentals that are unique and are not like any other asset, so it makes no sense to talk about Bitcoin investment instead of other type of investment. People with sufficient wealth should strive to obtain a diversified portfolio and the proportion of Bitcoin in this portfolio depends on risk tolerance.

Depending on where you live, you might as well want to check what happens with taxation and bitcoin. Judging by the aforementioned 529 plan, you live in the US. I think selling bitcoin with a profit comes expensive there, and even more so if you have a bitcoin income.

That being said, I'm all in to treating bitcoin as a savings plan. There's a risk, of course. "Fortune sides with him who dares".