You might want to have a copy of the seed yourself. You're the one who knows better.
Of course, nobody knows how much a Bitcoin would be 15-18 years from now. But with a hundred dollars, I doubt it will reach a thousand by the time it matures. So that wouldn't still be a lot of money.
How much Bitcoin would probably be 15-18 years from now? $150,000? $200,000? $300,000? Possibly. Even then, that $100 might still not be enough to give your beautiful nephew a good university education.
But that's probably not the point. The point is that you're saving something that does not decay. On the contrary, it becomes more valuable over time. You do it with fiat, your savings would only go to waste. Not only does its value naturally depreciate, inflation has recently been moving beyond the tolerable limit. It could happen many times in 15-18 years.
So if you or your brother's family intend to save a little more extra every once in a while for the child's future, it might well be done in Bitcoin rather than fiat.
You're a good soul!
Topic: I invested $100 for 18 years for my new born nephew - page 5. (Read 887 times)
Wow this is a very inspiring post , if i only have merit i will surely send you one because you are one of the most generous person that exist here.
Imagine that it wasn't your son and that is only your niece and knowing that you have no much funds yet you are investing for his future studies?
yeah that is small amount but for a people that has limited funds that would be a big help.
Imagine that it wasn't your son and that is only your niece and knowing that you have no much funds yet you are investing for his future studies?
yeah that is small amount but for a people that has limited funds that would be a big help.
You are a very generous Uncle and I hope i can do the same for my niece soon as my Sister is giving birth in the next couple of months.
though i already have did the same thing for my children but did not for the other people such as other family members.
Hope that 100$ will be x100 in the next 18 years so at least a thousand or million bucks will me more enough for the future of that child .
though i already have did the same thing for my children but did not for the other people such as other family members.
Hope that 100$ will be x100 in the next 18 years so at least a thousand or million bucks will me more enough for the future of that child .
You have done really good thing as investment in bitcoin and planning to go on for long term with it because after 10 years the prices will be too high and your small investments will also grow at good pace that your nephew would have some good amount with him at that time but can't say he will be living luxurious life with it because it's only $100.
Secondary you have given him seed phrase on piece of paper but what if he lost it meanwhile? Give him instructions to secure it safely and don't disclose it to anybody.Also keep them instead of selling after 1-2 years as it's useless so good luck with it.
Secondary you have given him seed phrase on piece of paper but what if he lost it meanwhile? Give him instructions to secure it safely and don't disclose it to anybody.Also keep them instead of selling after 1-2 years as it's useless so good luck with it.
Congratulations to your brother and he's got a caring brother as well. That's around 0.0028BTC that you've purchased for the future of the baby. Let's do some math.
If bitcoin goes $1M, just for the sake of argument by that time frame you've set then 0.0028BTC = $2,800. Is that going to be enough for the college's education of the baby? Maybe it does if cost of living there isn't that expensive but with inflation year by year, maybe not.
And just do the math for another $1M increase.
But anyway, from what country are you? Working as a security guard that earns around $90 per month is low.
Yes $90 is really low to be a security guard. Another thing when the salary is paid low, atleast the government can provide education and healthcare free of cost. This will give the citizens peace of mind.If bitcoin goes $1M, just for the sake of argument by that time frame you've set then 0.0028BTC = $2,800. Is that going to be enough for the college's education of the baby? Maybe it does if cost of living there isn't that expensive but with inflation year by year, maybe not.
And just do the math for another $1M increase.
But anyway, from what country are you? Working as a security guard that earns around $90 per month is low.
Anyhow the step taken to support the kids education is really appreciable. We don't know what will be the price of bitcoin after years. However we can't expect very big, because anything beyond certain price doesn't looks like a fair growth. Lets hope it'll help with the education and the guy has planned to teach him earlier about cryptocurrencies. Maybe that can help him make some extra money to fulfill his career dreams.
Congratulations to your brother and he's got a caring brother as well. That's around 0.0028BTC that you've purchased for the future of the baby. Let's do some math.
If bitcoin goes $1M, just for the sake of argument by that time frame you've set then 0.0028BTC = $2,800. Is that going to be enough for the college's education of the baby? Maybe it does if cost of living there isn't that expensive but with inflation year by year, maybe not.
And just do the math for another $1M increase.
But anyway, from what country are you? Working as a security guard that earns around $90 per month is low.
If bitcoin goes $1M, just for the sake of argument by that time frame you've set then 0.0028BTC = $2,800. Is that going to be enough for the college's education of the baby? Maybe it does if cost of living there isn't that expensive but with inflation year by year, maybe not.
And just do the math for another $1M increase.
But anyway, from what country are you? Working as a security guard that earns around $90 per month is low.
bitcoins price might learn to settle down at the $1m/btc level. this is because of 2 things
1.
bitcoin 2010 value: $0.10
bitcoin 2011 value: $32max (+319x)
bitcoin 2013 value: $1200 max (+36.5x)
bitcoin 2017 value: $20,000 max (+15.6x)
bitcoin 2021 value: $67,000 max (+2.35x)
in short the multiplier per ATH cycle gets less and less per cycle
im going to hazard a rational guess of (halving the multiplier)
2024 value at 1.2x of recent ATH so $70k * 1.2+(last ath) =$154k
2028 value at 0.6x of recent ATH so $154k * 0.6.+(last ath) =$246k
2032 value at 0.3x of recent ATH so $246k * 0.3+(last ath) =$319k
so i guess by his 12th birthday the $100 will be just over $900
2. bitcoin is actually measured in sat amounts. where most economists think that $1 would equate to 100sat at the best settled level, to allow accounting of 1cent=1sat minimal value swap
this means that 100sat =$1 and 1btc=$1m
so if you invested $100 yesterday at $35k guessing that you got ~0.00286. if bitcoin settles at $1m/btc then that 0.00286 would be worth $2860
of which, from you admissions of your local economy, is about 28months of salary.
that said. these numbers are very downplayed numbers for rational thought. not exaggerated hope numbers.
however i do not think we have yet to see the tip of this latest cycle(+2.35 seems small. maybe it can extend to 7.x),
and can probably see a 7.2x of previous $20k ($144k)
and can probably see a 3.6x of previous $144k ($518k)
and can probably see a 1.8x of previous $518k ($933k)
meaning your nephew might have his 0.00286 worth $2668 on his 12th birthday
so expect anything from 900 conservative to 2500+ hope
1.
bitcoin 2010 value: $0.10
bitcoin 2011 value: $32max (+319x)
bitcoin 2013 value: $1200 max (+36.5x)
bitcoin 2017 value: $20,000 max (+15.6x)
bitcoin 2021 value: $67,000 max (+2.35x)
in short the multiplier per ATH cycle gets less and less per cycle
im going to hazard a rational guess of (halving the multiplier)
2024 value at 1.2x of recent ATH so $70k * 1.2+(last ath) =$154k
2028 value at 0.6x of recent ATH so $154k * 0.6.+(last ath) =$246k
2032 value at 0.3x of recent ATH so $246k * 0.3+(last ath) =$319k
so i guess by his 12th birthday the $100 will be just over $900
2. bitcoin is actually measured in sat amounts. where most economists think that $1 would equate to 100sat at the best settled level, to allow accounting of 1cent=1sat minimal value swap
this means that 100sat =$1 and 1btc=$1m
so if you invested $100 yesterday at $35k guessing that you got ~0.00286. if bitcoin settles at $1m/btc then that 0.00286 would be worth $2860
of which, from you admissions of your local economy, is about 28months of salary.
that said. these numbers are very downplayed numbers for rational thought. not exaggerated hope numbers.
however i do not think we have yet to see the tip of this latest cycle(+2.35 seems small. maybe it can extend to 7.x),
and can probably see a 7.2x of previous $20k ($144k)
and can probably see a 3.6x of previous $144k ($518k)
and can probably see a 1.8x of previous $518k ($933k)
meaning your nephew might have his 0.00286 worth $2668 on his 12th birthday
so expect anything from 900 conservative to 2500+ hope
The simple answer is that no knows op which is pretty obvious since no one can accurately predict crypto prices at any point of time and anyone who says otherwise is fooling themselves and others in my opinion.
You should ask yourself if you are willing to lose that 100 bucks or a portion of it since BTC could continue going down in value in the future.
You should ask yourself if you are willing to lose that 100 bucks or a portion of it since BTC could continue going down in value in the future.
no offense but doing hodl for 10 years is just too risky, you shouldn't do it. I say this because in 10 years you don't know if you will be alive and if your brother will be alive or if he won't have something better than bitcoin and the price of bitcoin is stagnant.
the ideal in my opinion would be that you buy in small quantities every dip for 3 years and when you have a good profit you open a business in the real world for your nephew to have a good quality of life and good study
the ideal in my opinion would be that you buy in small quantities every dip for 3 years and when you have a good profit you open a business in the real world for your nephew to have a good quality of life and good study
That was very kind of you to gift your nephew on his birth with 100$ in bitcoins. You look truly concerned and careful with him and his future. Not everyone is lucky to have a generous and regardful uncle like you. You should be proud of yourself!
Only time will tell where bitcoin is going to take us, especially in such a long time period of 15-18 years, what means no one can predict it right now. Meanwhile, you can also try to introduce another family members to crypto universe, so they can start being benefited by investing in bitcoin from now on as well. I believe the more we invest in the present moment, the less we will have to worry in he future about our financial life conditions.
Only time will tell where bitcoin is going to take us, especially in such a long time period of 15-18 years, what means no one can predict it right now. Meanwhile, you can also try to introduce another family members to crypto universe, so they can start being benefited by investing in bitcoin from now on as well. I believe the more we invest in the present moment, the less we will have to worry in he future about our financial life conditions.
That's great, you've prepared pretty well for the future.
$100 isn't a bad thing and in fact it's better than nothing. it doesn't matter how nominal it is but how strong it is to withstand
it could be that the $100 that you now consider small enough for the next 18 years could be more than you imagine when you are successful in holding back in that time
$100 isn't a bad thing and in fact it's better than nothing. it doesn't matter how nominal it is but how strong it is to withstand
it could be that the $100 that you now consider small enough for the next 18 years could be more than you imagine when you are successful in holding back in that time
What do you think, guys? Will this amount be enough for his better study costs?
Apart from luck, it heavily depends on where your nephew will be studying [personally, I highly doubt it'd be enough (I hope I'm wrong)]!as a little note could easily get misplaced or the ink might fade over such a time period.
@Imran232: Fortify is right! If I were you, I would've "stamped those seed phrases on a steel washer" instead... It costs little to nothing and you can achieve almost the same result [assuming that you're not suffering from a hand & arm tremor] without the jig part. 
Congratulations to the OP for the new addition to the family and well done for
thinking of the future, I think it's a great plan.
Bitcoin is an accessable and affordable investment to all, you can invest as much
or as little as you can afford, there are very few investments which offer
this.
There is a degree of trust involved in how the OP is approaching this, by giving
his older brother a copy of the wallet keys he is hoping the brother doesnt cash out in
a time of need or hopefully he doesnt lose the keys.
The best scenario is to keep the wallet to yourself and gift your nephew yourself when
he os 18.
thinking of the future, I think it's a great plan.
Bitcoin is an accessable and affordable investment to all, you can invest as much
or as little as you can afford, there are very few investments which offer
this.
There is a degree of trust involved in how the OP is approaching this, by giving
his older brother a copy of the wallet keys he is hoping the brother doesnt cash out in
a time of need or hopefully he doesnt lose the keys.
The best scenario is to keep the wallet to yourself and gift your nephew yourself when
he os 18.
What do you think, guys? Will this amount be enough for his better study costs? Though if they keep it for 10 years, at least that's enough for me. What do you think, guys? What will be the price of this $100 after 18 years?
I bought bitcoin at an average price of $35,546,.
I bought bitcoin at an average price of $35,546,.
That $100 might become $10k or more in ten years. In the worst scenario it will go to zero but then you'll lose only $100. If bitcoin makes a x100 run, then you'll be sitting on $10k which will probably not cover his study costs. You'll probably need something like $100k to cover his expenses and I am not sure if bitcoin will be able to make a x1000 run. Not impossible though.
Apart from being effective in storing all the elements that are essential for storing a certain amount of Bitcoins. Your intentions are pretty good, but there's a question I'd like to know the answer to.
Can the wallet only be accessed alone or is there another party who left it to unlock it in order to minimize it if you die? (don't be offended, because this is just wishful thinking)
Since this is for a long period of time, at least you have prepared various solutions so that the long wait is not in vain. Well especially in seed mnemonic, save it and what if the time comes you get old and forget?
This question is a bit silly but something this small will be very important later.
Can the wallet only be accessed alone or is there another party who left it to unlock it in order to minimize it if you die? (don't be offended, because this is just wishful thinking)
Since this is for a long period of time, at least you have prepared various solutions so that the long wait is not in vain. Well especially in seed mnemonic, save it and what if the time comes you get old and forget?
This question is a bit silly but something this small will be very important later.
It's really good thinking and may be it will help a lot. $100 is enough if we think 18 years. It's huge time for getting great amount of money. It would be great if you buy potential coin like matic, cake, mana and some of these kinds of coins. Bitcoin is also good as it's a matter of 18 years.
What do you think, guys? Will this amount be enough for his better study costs? Though if they keep it for 10 years, at least that's enough for me. What do you think, guys? What will be the price of this $100 after 18 years?
I bought bitcoin at an average price of $35,546,.
Since last week, we have been very happy because a new member has joined our family. Yes, last Saturday, my elder brother became the dad of a boy. After spending 9 days in the hospital, they came to our home. It really is a great feeling for me to become an uncle. He is the first baby in our family's next generation. So I thought of something for him yesterday. I thought I would make 15- 18 years of FD for him. so that we can provide him with a better education. We are not from a rich family. We belong to a lower middle class family. And my elder brother is working at a bank as a security guard. because he didn't study well. As a security guard, his salary is only $90 equivent a month in our currency. This won't be enough for him to give a better study. So I thought I would do something so that i can contribute little on his study. As a crypto member, I have finally made a decision. I will make an investment in bitcoin for him. But I don't have much money, but I can invest a little amount for him. Yesterday I bought $100 worth of bitcoin for him.
This is a really small amount, so my brother won't say no to me. Then I load it onto a separate account for him. And write the wallet ID (Means electrum wallet seed) on a note paper and give it to my elder brother and tell him to keep it for at least 15–18 years. And my trust in bitcoin says that after 15–18 years, this $100 could be a very handsome amount for my nephew. They don't have any technical knowledge, so I just told them to hold it. They will hold it. And when he becomes 10 to 12 years old, I will start teaching him about bitcoin so that if anything happens to me, he can easily access his account and get access to his reward. I am teaching my younger brother about bitcoin. He can also help. However, my family's wish is that all of the next generation members will be tech savvy. Because tech is the future.
What do you think, guys? Will this amount be enough for his better study costs? Though if they keep it for 10 years, at least that's enough for me. What do you think, guys? What will be the price of this $100 after 18 years?
I bought bitcoin at an average price of $35,546,.
I can feel that you are a wonderful uncle, even you are thinking about the future of your nephew in the future. For good people like you, I hope your investment grows many times as you expect, so that your nephew can grow up and have a good education. let's be sure that your $100 investment will be profitable thousands of times in the next 18 years. This is a really small amount, so my brother won't say no to me. Then I load it onto a separate account for him. And write the wallet ID (Means electrum wallet seed) on a note paper and give it to my elder brother and tell him to keep it for at least 15–18 years. And my trust in bitcoin says that after 15–18 years, this $100 could be a very handsome amount for my nephew. They don't have any technical knowledge, so I just told them to hold it. They will hold it. And when he becomes 10 to 12 years old, I will start teaching him about bitcoin so that if anything happens to me, he can easily access his account and get access to his reward. I am teaching my younger brother about bitcoin. He can also help. However, my family's wish is that all of the next generation members will be tech savvy. Because tech is the future.
What do you think, guys? Will this amount be enough for his better study costs? Though if they keep it for 10 years, at least that's enough for me. What do you think, guys? What will be the price of this $100 after 18 years?
I bought bitcoin at an average price of $35,546,.
What do you think, guys? Will this amount be enough for his better study costs? Though if they keep it for 10 years, at least that's enough for me. What do you think, guys? What will be the price of this $100 after 18 years?
I bought bitcoin at an average price of $35,546,.
I bought bitcoin at an average price of $35,546,.
This kind of question is relatively hard to answer since no one can literally and absolutely predict the price of BTC in the following years.
But despite that, there are a few factors that you should know- every 3-4 years a fork happens where the denomination of BTCs will be reduced in half. Meaning, forks split BTCs into different networks that usually result to a significant increase in its price. While basing it also primarily on the price history, the price of BTC skyrocketed in the following years. Again, if you really plan on investing long-term, then I highly suggest that you consistently purchase $100 worth of BTCs monthly to maximize your long-term profits.
If everything goes decently with bitcoin, then it should give you a good financial bumb after 10 years
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Also, hopefully you have an extra copy of the wallet's backup. Can't risk your brother losing the paper.
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Also, hopefully you have an extra copy of the wallet's backup. Can't risk your brother losing the paper.
Thank you soo much for your wish. And yeah this option is not our final option for finance. This is just optional. And 10 years later god also make our financial position good. I just keep this $100 like as an experiment too. And as a crypto member i will stay with crypto until i die what i believed. So this investment is an optional choice.
Actually i creat account on electrum. And made 2 copy of seed and keep 1 to me and give 1 to my brother.
What did you mean by wallet ID?
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Actually wallet id means i wanted to say my electrum wallet secret seed. I hope now its clear.
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Thanks for the opinion. Its a work of donation and we all wish to do that. I will try.
- What is wallet ID you are mentioning here?
- It is important because "Not your keys, not your coins". What you must have is private key or mnemonic seed, not wallet ID.
I hope now i can clarify to everyone about this wallet id.[/list][/list]
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