If you are serious about saving money for your kids' education or future needs, putting that money in bitcoin is an extremely irresponsible decision. You are far better off putting it into index funds and mutual funds, assuming it will be there for 10+ years. The risk vs reward over 10+ years for those funds is extremely favorable and for bitcoin it absolutely is not. This isn't really a debatable topic either - investing in any asset that is less than 10 years old, for a duration of 10+ years, is going to be riskier than investing in something that has had consistent behavior for over 100 years.
I happen to believe that bitcoin has a bright future but anybody who feels confident enough in that to put their children's savings into it is being foolish. Bitcoin investments should be made using money that you can afford to lose.
I would never classify my suggestion as as "extremely irresponsible decision." First of all I am not a parent but I will speak like a parent, as a parent, I will decide and choose what I think is best for my kids. And if I think that investing in Bitcoin is best, then you cannot question my thoughts, you do not even have the right to do so. I never forced you to follow the suggestion in OP so you have the right to accept or neglect. If you think that investing in mutual funds is the best for your kids then do so, I don't give a damn on your thoughts and decisions.
OP, you said it as if the price of Bitcoin will forever continue on the up trend. Investing in Bitcoin is like investing in any other business. Businesses do have their downtrend from time to time. If in doubt, you may want to find out from Mark Zukerberg or Bill Gates. I am one of the VERY few who believes that Bitcoin will not forever trend upwards in price. In fact, a time will come when other coins will go top it.
I, myself, believe in bitcoin. However, I choose to be wise in this type of environment. I did not claim that bitcoin will stay forever nor bitcoin will continue upward but we all hope that bitcoin will be the apple of our eyes forever. The OP is just a suggestion and all are free to do what they will. I believe in Bitcoin so I want to invest in bitcoin. Regardless of the risk and uncertainties, I will invest but I will monitor and be a wise investor.
Well I have a problem with this topic suppose my present or future is secure it mean that I have a secure future for my child too. If I have an insecure future then my kids definitely will be having an insecure future.
So, why do the writer have put the word children in the text? To make it more sensitive or to let the users realize that the Bitcoin is not a short term investment.
You cannot be too sure. That is only for you or for the whole family, but consider the uncertainties of life. Even though if you have a secured future today, all things may fall apart due to some reasons. So in order to secure the future of your kids, you have to have a separate way of securing their future. You must not depend on the now. Yes you have to prepare for the future of yourself and your family and that includes a separate preparation to the future of your kids.
The word "children" is included because it is about them. About securing their future. Not to make it sensitive but to make an emphasis. Most users know that bitcoin is a long term investment, you have to take note that mate.
If you are serious about saving money for your kids' education or future needs, putting that money in bitcoin is an extremely irresponsible decision. You are far better off putting it into index funds and mutual funds, assuming it will be there for 10+ years. The risk vs reward over 10+ years for those funds is extremely favorable and for bitcoin it absolutely is not. This isn't really a debatable topic either - investing in any asset that is less than 10 years old, for a duration of 10+ years, is going to be riskier than investing in something that has had consistent behavior for over 100 years.
I happen to believe that bitcoin has a bright future but anybody who feels confident enough in that to put their children's savings into it is being foolish. Bitcoin investments should be made using money that you can afford to lose.
I think the whole idea of op is not to tie down some Bitcoin for 10 or more years. But rather a move to take advantage of the impressive price surge in the price of Bitcoin as some fund left in some Bitcoin wallet for a year or two can double or even triple and can then be withdrawn and transferred to mutual funds for instance.
I say that you got a wise head there mate. The suggestion does not say everything and others must think and be wise about this king of thought. If uncertainties happen, be wise and do some actions. The future of you kids is at stake, I believe in Bitcoin but having caution is always safer.
Everybody has their own interpretation about the suggestion. Accepting it as is without having further studies might lead to failure. Being wise is not evil, right?