Bitcoin for your children & future wealth distribution - page 2.

leonair

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Quote from: GigaBit on July 05, 2024, 02:17:44 AM

Future generations will surely adopt Bitcoin today or tomorrow. But those who are able to exploit this advantage first will be ahead of the rest. I will definitely teach Bitcoin to the younger ones in the family who are old enough to learn. If they learn about Bitcoin from their families, they will be more interested in learning about it from outside as well. On the one hand, as the younger ones will be ahead in increasing their technological knowledge, they will also be comfortable in the financial aspect. Teaching them Bitcoin at a young age means building a hard foundation for it.

Yes it is true that in future generation everyone will adopt Bitcoin. From now on those who have adopted Bitcoin can introduce Bitcoin to their family members if they want. But I think those who are interested in Bitcoin should be introduced to Bitcoin. In future all things may be transacted through Bitcoin.Paper money may not exist in the future. All transactions will be done through bitcoin very soon we will have to wait for few years for that now people in almost all countries know about bitcoin slowly everyone will start using bitcoin.

Franctoshi

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All I owe my kids as regards to this is to pass down the information I have known about Bitcoin to them and leave them to decide what they will use the information and do, I'm not in a position to determined for my children where they will find their interest but rather will provide them with the necessary guidance they need to know regarding how they should go about their investment in digital asset "Bitcoin" and once I have achieved that I believe that other necessary things we follow suit.

Rao420

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Quote from: Plan well on July 05, 2024, 06:10:07 PM

Bitcoin can be thought of as a digital asset that can be passed down to future generations, much like a family heirloom or inheritance. In that sense, one could consider Bitcoin as a form of "digital children" that can be nurtured and grown over time.

Of course , you can use Bitcoin for inheritance like you inherit jewels, land or states, as you said Bitcoin is a digital currency that you can add to your inheritance. And you know its value goes up over time and I would say that if there is an inheritance if it's one that doubles your inheritance as soon as you hold it keep going and inheriting Bitcoin can be such a decision. And it can also be passed on to the next generations just like the legacy of your elders.

tread93

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Quote from: Catenaccio on July 03, 2024, 02:55:56 AM

Quote from: Apocollapse on July 03, 2024, 02:34:03 AM

I will never talk about my wealth to my kids and I don't want them to expose my wealth to them.

I agree with this educational style and Warren Buffet did not let his children knew about his super wealth..

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I will act like a broke person and being very stingy when they ask for money, the most important thing I will teach them is work hard and support what they interested/like to do, if they don't interested with Bitcoin, I will not explain it.

It's better for them to build their own wealth rather than knowing if they have money which they can spend it to anything they like.

If we give them great fortune, and let them know about this inheritance when they are very young, they will lack of motivation to learn, get an occupation, find job and work as a normal citizen in society.

Educate them, keep our wealth in secret and don't tell them about any level of inheritance in time they only need to focus on learning, shaping their own brain, knowledge and characteristic, discipline. When they are educative, matured enough, we are older enough, we can proceed things about inheritance.

Well said, education there is the most important thing. What I hate the most is seeing the entitled individuals that come from great wealth. Those folks never learned hard work and the joys of earning a living. Keeping it secret is something that is to be said. I don't like talking about money because it can lead to boasting and jealousy. Kids need to be kids, and not worry about money. But if you can raise them to have an entrepreneurial spirit so that they can grow and start their own business one day or pursue a great profession that generates an income this is the best way. Inheritance and passing down bitcoin well, you're right maybe it won't even come in the form of bitcoin maybe that bitcoin will be spent to acquire something else like real estate, which in my opinion is really the best thing to have, that and land.

Blitzboy

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You're wise to consider Bitcoin for your kids' future. Yes, it has great promise. Good to hear you're considering cold storage versus a 529. We need forward-thinking like that. Diversification matters. Even with Bitcoin, dont put all your eggs in one basket. Mix it up. Buy gold and Bitcoin ETFs. Put some Bitcoin in cold storage too.

Many worry about passing on this riches, which is understandable. Dont worry too much. We'll find solutions shortly from the brightest minds. Although Bitcoin is revolutionary, they'll figure out way to obey your wishes. Start now. Your kids will get Bitcoin eventually. They'll be ahead when they do. The goal is to educate kids financial independence and give them a head start in a fast-changing world. Winners do that. They win by adapting and learning.

Solosanz

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Quote from: Cryptmuster on July 06, 2024, 03:28:46 AM

It is very important to use diversification in investing, you cannot keep all your capital in one asset, because there is a possibility of losing everything. In addition, if you decide to invest in a high-risk asset, you must understand that the probability of losing your money will be higher, and if we are talking about Bitcoin, then you need to take into account its cyclical nature and in order not to find yourself in a situation where your investments lose -30% or more, choose the right one time to buy and don’t delay selling, because greed can play the same cruel joke if you don’t sell Bitcoin on time.

There's nothing should be scared if you invest in Bitcoin, just keep DCA-ing in anytime frames (weekly, bi-weekly, monthly etc) and after at least for four years, you will make a lot money. But, if they choose to invest in shitcoins aka altcoins, they should be worried because they could lose half of their money, most people who invest in memes are lose more than 70% right now.

Diversification is only for people who have a lot of money, say multi-millionaires or billionaires, lower than that people should go for one asset or few assets since they have nothing to lose.

Cryptmuster

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Quote from: LDL on July 05, 2024, 06:55:00 PM

I currently have all my funds invested in bitcoin so before the market crash my bitcoin portfolio was $3200 but now my bitcoin is dumping at $2400. Not sure if I should sell the bitcoins and convert them to my home currency or hold them for 2026/27. But I invested in bitcoin and gold at the same time but unfortunately gold is in profit while bitcoin is in loss. But I think it would be best for my child to keep money in the bank and invest in gold. Investing in Bitcoin is uncertain and may result in profit or loss. But if you invest in gold, it is guaranteed that you will get profit over time. So I have decided that if I keep anything for my child's future, I will keep it in gold.

It is very important to use diversification in investing, you cannot keep all your capital in one asset, because there is a possibility of losing everything. In addition, if you decide to invest in a high-risk asset, you must understand that the probability of losing your money will be higher, and if we are talking about Bitcoin, then you need to take into account its cyclical nature and in order not to find yourself in a situation where your investments lose -30% or more, choose the right one time to buy and don’t delay selling, because greed can play the same cruel joke if you don’t sell Bitcoin on time.

Bd officer

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Quote from: LDL on July 05, 2024, 06:55:00 PM

I currently have all my funds invested in bitcoin so before the market crash my bitcoin portfolio was $3200 but now my bitcoin is dumping at $2400. Not sure if I should sell the bitcoins and convert them to my home currency or hold them for 2026/27. But I invested in bitcoin and gold at the same time but unfortunately gold is in profit while bitcoin is in loss. But I think it would be best for my child to keep money in the bank and invest in gold. Investing in Bitcoin is uncertain and may result in profit or loss. But if you invest in gold, it is guaranteed that you will get profit over time. So I have decided that if I keep anything for my child's future, I will keep it in gold.

Yes, buying gold for your child's future will be much better than buying bitcoins. But if you keep money in the bank, the value of money decreases due to inflation. According to me, it can be better to buy land along with gold. Bitcoin is risky, gold is not risky and profit is guaranteed. Even if you buy the land, the price of the land will increase a lot in the future, there is no possibility of decreasing. In my opinion as a father it would be much better for his children to buy land or gold instead of buying risky assets like bitcoins. However, you can educate your children about Bitcoin, your children will be interested in investing in Bitcoin if they can earn in the future.

I will buy both gold and land for my children. I will not teach my children about Bitcoin at a very young age, as it may harm my children's education. When my children are older and wiser, I will introduce them to Bitcoin.

LDL

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I currently have all my funds invested in bitcoin so before the market crash my bitcoin portfolio was $3200 but now my bitcoin is dumping at $2400. Not sure if I should sell the bitcoins and convert them to my home currency or hold them for 2026/27. But I invested in bitcoin and gold at the same time but unfortunately gold is in profit while bitcoin is in loss. But I think it would be best for my child to keep money in the bank and invest in gold. Investing in Bitcoin is uncertain and may result in profit or loss. But if you invest in gold, it is guaranteed that you will get profit over time. So I have decided that if I keep anything for my child's future, I will keep it in gold.

NurseHub

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Quote from: Davidvictorson on July 02, 2024, 02:51:27 PM

Anytime that this conversation comes up , I will.always say, let kids be kids. We should think that they would miss anything by not learning about Bitcoin at a young age. There is more to their life and development than Bitcoin. Therefore I would not agree to anyone forcing Bitcoin knowledge upon them when they should be taking, music lessons, dance classes, football classes. The only Exception is if the kid show repeated interest in knowing about Bitcoin.

I will let my kids grow to ask what I really do to make money, then I will calmly explain to them, and if I notice their interest, I will start asking them to assist me in one or two things in the forum and see how smart they can be. Not all children can love to do it, but if one finds interest, I will continue to teach him or her till he can do it alone.

I'm not going to force teach anyone my kid about Bitcoin, but you believe society is alright telling our kids, maybe before them Bitcoin might even be studied in school (joke), but regardless, I will teach who is interested.

Of course they must not be Bitcoin holder, there are more to do.

Plan well

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Bitcoin can be thought of as a digital asset that can be passed down to future generations, much like a family heirloom or inheritance. In that sense, one could consider Bitcoin as a form of "digital children" that can be nurtured and grown over time.

Sandra_hakeem

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Quote from: tread93 on July 02, 2024, 01:39:44 PM

I keep thinking about setting them up for success but I am much too early right now my kids are very young and they wouldn’t begin to even understand Bitcoin for quite a while.

is that a problem right now?? What's the point of starting them up with Bitcoin at such a tender age? Isn't it to show them a way and an easy step to understanding how the system works? If they grow up, it becomes a starter pack for them. Most of us weren't born with a golden spoon; we just had to fight our way through... You don't want your kids to face the same reality... Show 'em how!

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But I am curious because I know I should be doing so much more to prepare them for what is to come, hopefully a very well positioned future and inheritance that I can give them.

If you have such an easygoing plan for your family, and you have the resources constantly running, that'd be the best decisions you'd ever make for the betterment of those young kids.
Edit: By the way, this isn't new to me ...we've got similar topics like this already discussed over and over again....

Russlenat

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Quote from: AirtelBuzz on July 05, 2024, 07:22:12 AM

Quote from: tread93 on July 02, 2024, 01:39:44 PM

How do you plan to introduce your children to Bitcoin? More importantly what is your long term plan for passing down the wealth to the next gen?

Do you plan to make them their own cold storage wallets and start depositing coins onto this instead of say finding a college savings account etc? Or have a diverse mix in many of these baskets?

I definitely want to connect my child to Bitcoin but not now when he is an adult. My son is still very young he is now in toddler stage even studying primary school I don't think he should be explained or informed about Bitcoin at this moment. But after passing Secondary, I will definitely do it. Every parent has a dream for their child, mine is to teach my child freelancing or bitcoin investing along with education to create additional income opportunities.

As people think about their children's future and save money every month for them, instead of depositing money like them, I convert it into Bitcoin and hold it so that it gives good profit. This is my child's future savings.

Every parent here aims to connect their children into bitcoin and that's for sure. But exposing them into bitcoin at a very early age might not be a good idea. Bitcoin is quite complicated that any one who is not matured enough will never find it interesting to learn. Same with my children here as they are still in elementary and preschool year. But I have big plans for them in the future, and Bitcoin could be very significant so they can achieve their dreams and aspirations in the future.

leonair

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Quote from: Nothingtodo on July 04, 2024, 07:15:17 AM

I think the best profit can be made by buying and holding bitcoins rather than keeping them in the bank. Moreover, if Bitcoin is saved for children in the future and once you estimate how much that savings will increase after 2030, it will be easy to understand how much wiser it is to hold Bitcoin than to keep money in the bank. So I decided that if I was going to save any wealth for my son or daughter for the future, it would definitely be in Bitcoin.

If you make the decision you have made, you can really do a lot of good for your children. If all the countries are going through the bad situation now, if I keep money in the bank now, the profit I will get in 2030, if I can invest it in Bitcoin. We will get several times more profit than the bank. So those who are intelligent will think of investing in Bitcoin instead of keeping money in the bank. However, if we can invest in land in addition to Bitcoin, it can be very profitable for us.

Smack That Ace

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Quote from: kryptqnick on July 05, 2024, 07:40:28 AM

At different stages of life, the information should be presented in different ways and amounts, so it doesn't have to be a comprehensive guide on Bitcoin for a kid.

Like educational programs, why does the Ministry of Education divide levels in educational programs and need to be taught according to age? Same with bitcoin, is it ultimately a currency or an investment and should we teach them when investment knowledge is beyond their understanding?
If someone thinks that the earlier they teach their children about bitcoin or investing, the more successful they will be when they grow up. So why don't they teach their children to study university programs and ignore elementary and middle school programs?
Teaching bitcoin to children is not a bad thing, but it seems like people seem to be in too much of a hurry to educate their children about bitcoin. Everything needs to be trained at the right age to bring the best results, teaching them early does not mean they will be better than others.

eightdots

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Quote from: Nothingtodo on July 05, 2024, 07:47:40 AM

Quote from: Davidvictorson on July 02, 2024, 02:51:27 PM

Anytime that this conversation comes up , I will.always say, let kids be kids. We should think that they would miss anything by not learning about Bitcoin at a young age. There is more to their life and development than Bitcoin. Therefore I would not agree to anyone forcing Bitcoin knowledge upon them when they should be taking, music lessons, dance classes, football classes. The only Exception is if the kid show repeated interest in knowing about Bitcoin.

Children of the future will be born in a time when they will see all the modern things in the whole world and Bitcoin will not be a surprise to them. At some point Bitcoin will become such an acceptable currency for people that they will invest in Bitcoin instead of keeping money in the bank. But because of the risky nature of Bitcoin, people are afraid to invest in Bitcoin, but if you invest for a long term, it is definitely possible to get a lot of profit along with the risk.

If your children are curious, you should tell them about Bitcoin when they ask you about it. It is not right to dictate such issues to children before they reach a certain age. You should save and invest for your children, they don't need to do this, you do it for your children. When the time comes, you should tell your children that you are investing for them and leave the decision to your children.

The world is always changing and we try to keep up with this change. The new generation can learn many things from social media and the internet. It is best to guide children in the direction of their curiosity.

Nothingtodo

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Quote from: Davidvictorson on July 02, 2024, 02:51:27 PM

Anytime that this conversation comes up , I will.always say, let kids be kids. We should think that they would miss anything by not learning about Bitcoin at a young age. There is more to their life and development than Bitcoin. Therefore I would not agree to anyone forcing Bitcoin knowledge upon them when they should be taking, music lessons, dance classes, football classes. The only Exception is if the kid show repeated interest in knowing about Bitcoin.

Children of the future will be born in a time when they will see all the modern things in the whole world and Bitcoin will not be a surprise to them. At some point Bitcoin will become such an acceptable currency for people that they will invest in Bitcoin instead of keeping money in the bank. But because of the risky nature of Bitcoin, people are afraid to invest in Bitcoin, but if you invest for a long term, it is definitely possible to get a lot of profit along with the risk.

kryptqnick

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I don't have children, but I hope to have them at some point. Education of children is extremely important, but it must be done in a way of using a child's natural curiosity instead of being forced out of nowhere. I do believe that teaching kids about money and some basic financial literacy is a good idea, and teaching about Bitcoin should be a part of that. I wouldn't focus on Bitcoin as an investment; I would focus on how it's a different kind of money that is relatively new but pretty successful. At different stages of life, the information should be presented in different ways and amounts, so it doesn't have to be a comprehensive guide on Bitcoin for a kid.
As for a fund, I do plan to save up a bit in BTC for kids, but once they're already born and growing up.

AirtelBuzz

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Quote from: tread93 on July 02, 2024, 01:39:44 PM

How do you plan to introduce your children to Bitcoin? More importantly what is your long term plan for passing down the wealth to the next gen?

Do you plan to make them their own cold storage wallets and start depositing coins onto this instead of say finding a college savings account etc? Or have a diverse mix in many of these baskets?

I definitely want to connect my child to Bitcoin but not now when he is an adult. My son is still very young he is now in toddler stage even studying primary school I don't think he should be explained or informed about Bitcoin at this moment. But after passing Secondary, I will definitely do it. Every parent has a dream for their child, mine is to teach my child freelancing or bitcoin investing along with education to create additional income opportunities.

As people think about their children's future and save money every month for them, instead of depositing money like them, I convert it into Bitcoin and hold it so that it gives good profit. This is my child's future savings.

kuriboh

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Quote from: uswa56 on July 05, 2024, 03:13:04 AM

Quote from: Ever-young on July 04, 2024, 06:39:51 PM

When the child is off-age, as the parent who is interested in bitcoin, you can just call them together, even if it's just a single child you have. You can give them a child-to-parent kind of talk and share your basic knowledge about bitcoin with the child.

How they respond and the interest the child picks up from the teaching will determine if you should go further or not. I think we are now in an era where children are more exposed and know how to make choices on things they want even before they reach the age of 18.

Sharing knowledge about Bitcoin with children will of course be very good, but we also need to pay attention to them whether they have an interest in learning about this or not and if they really have a curiosity about this, of course we can first explain to them about it. the basics of Bitcoin until they reach adulthood, then we can explain Bitcoin in detail to them, but if they are not yet interested in this, it would be better for us not to force them to learn about Bitcoin earlier and we can continue to do things. what we should do to prepare our future better and we will be able to teach our children after they grow up.

It's only natural for children to be informed about Bitcoin. However, a child will only be willing to learn about it in the first place once he grows up to understand the state of the four sites a little better, and then he will be interested in learning them. First of all, they don't know what Bitcoin is; they don't even want to know it. Naturally, they are children. They have to wait for a great power to understand and learn it. They should be aware of these as they grow and learn to look for them so that they are aware of the science and know the future well enough to understand what will happen or what will happen with Bitcoin. If we teach our children well in this matter from childhood, they will be far ahead of other children because the best way to learn these things is to introduce them to your children.

Topic: Bitcoin for your children & future wealth distribution - page 2. (Read 1018 times)