Topic: I invested $100 for 18 years for my new born nephew - page 6. (Read 820 times)

In the question of what would be the price of $100 worth of Bitcoin today in the next 15-18 years, the honest and realistic answer is, only time could tell. I guess we’ll just see if you’ll be successfully reaping what you sow after your set timetable. Nonetheless, I hope that you will all be able to achieve your intentions, and your nephew to be knowledgeable and of course smart in keeping and managing what you gave to him. Especially the important information he needs, most especially the account and wallet details.

the most important thing is the intention you do, it doesn't matter the nominal $100 now can be very good for the future, especially for the next 15-18 years.
You are doing something very right, but on the other hand you have to save carefully and not let your intention of saving $100 during that time period go to waste.

It's okay with that value, if he wants it he can buy economics books with other money he has or by other methods use the internet to learn business.

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The first question is like what @act asked, what wallet is used to store bitcoins? Troubles might occur in the next 18 years if he doesn't prepare everything properly at the start.
To be honest, I would prefer to bequeath bitcoins with these methods ^[1][2]. Because people have their own mental strength, as long as the value of bitcoin is increasing then anyone will be tempted to sell it sooner than planned. Let's say that in 5 years bitcoin reaches $1 million, whoever has access to the wallet has a chance to sell it then.

1. [Tutorial] Making your crypto inheritible
2. Using Locktime for inheritance planning, backups or gifts

Nobody can foresee what the price of Bitcoin will be 20 years into the future, many things could replace or supersede it. It might get wiped out due to advances in super computing making it crackable. Either way, it does not offer compounding returns like you might see from the stock market or a bank account (if they still paid decent interest rates). It's such a small amount that it's not going to do anything impressive, you'd be lucky if it quadrupled in value - whatever asset you put it in. Personally I'd put it into a global index fund which is much more likely to perform better and it will compound much more over that time frame. You should definitely consider the storage medium - as a little note could easily get misplaced or the ink might fade over such a time period.

Because you plan to keep it for 15 to 18 years so please allow me to ask you some questions

• 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.
• What is a wallet you used to store that amount of Bitcoin?
  
  • It should be non-custodial wallets. Recommended wallets
  • Additionally, verify wallets, just to be safe. If you don't verify your wallet and in bad case, you download a phishing wallet, you will lose your Bitcoin
  • Because you probably don't have fund to buy a hardware wallet, so you can use Electrum wallet that is good. Download. [Guide] How to Safely Download and Verify Electrum
    

First of all, congratulations on having a new member of your fam! I like your mindset, hope your decision will lead to success.

Since you wanna help them out for the schooling of the baby , then  why not instead of exact 100 dollar investment make it a habit to put small amount each time you will accumulate funds?

of your brother to put at least 10 dollars every pay day to add as college educational funds?

for sure after that 50 years ? that amount would be more than enough for the study and may also support the next child they will have .

$100 is a big amount if the salaries in your country are so low ($90 for a security guard). That's at least 160 hours of work. Putting that money in Bitcoinfor the long-term is a good call, but you shouldn't place your nephew's education solely on that investment. Also I'd say the $100 would be better spent in education for your brother so he can get a higher paying job. The ROI on education is net superior to any financial investment when you don't have much capital.

But education also depends on your brother's time and willingness to learn and develop.

Very nice story, but from the picture you paint, and assuming it's true what you say, I'm afraid it's going to end up with your brother selling the Bitcoin when it converts to a half-decent amount. I've seen it happen before. People want to invest but don't have a lot of money, and end up selling at the drop of a hat. In this case he has not invested, it's rather you who have given him the investment, but having that money there untouched if he does not have much money, in the long term, I do not see it, and even less if he gets fired from his job, has a financial contingency, etc.

What did you mean by wallet ID?

If you are using blockchain.com wallet, it is an online wallet, do not use it for any reason. Even if you generate the seed phrase, it is generated online. You want to keep the bitcoin untouched for many years, you will have to use an offline wallet for it which is better.

Do not use an exchange for it, some people can be use exchange, which is very wrong. Exchanges are online too that is vulnerable to online hackers.

Do not use custodial wallet too because it is online.

Do not use anything online.

Use an offline ways to generate the wallet and move that bitcoin to it which is the best that can give you rest of mind that you are doing everything perfectly.

You can use Iancoleman html downloaded on your device and open it, make sure your device is airgapped and is safe. You can use bitaddress.org if you do not mind private key backup instead of seed phrase. Or if those are too technical for you, you can download electrum from electrum.org on airgapped device, open a standard wallet on the airgapped device.

If you have hardware wallet, generating new offline wallet should not be hard.

Backup the seed phrase or private key, delete the wallet and give your brother the backup. Let him know how important the backup is and how it should have like 3 backup.


$100 is too small. Do not too be dependent on bitcoin but this is a great idea, in 10 to 12 years, the price of bitcoin will be over $100000 to $200000. But look for other ways for the child upbringing.

If everything goes decently with bitcoin, then it should give you a good financial bumb after 10 years. But really, I hope you guys really aren't going to depend on bitcoin alone. What if the price increase in 10 years isn't enough for your nephew's education? You definitely wouldn't want that. I'd honestly rather use that $100 to buy books concerning finance/business/entrepreneurship to be able to invest in yourselves to potentially have more income.

Also, hopefully you have an extra copy of the wallet's backup. Can't risk your brother losing the paper.

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,.