Topic: Is age a limitation in Bitcoin - page 2. (Read 1742 times)

bitcoin does not have age differentiation it is people who is into cryptocurrency business that will think that if you are not matured in mind you are not supposed to invest in Bitcoin but that is a partially on true from my way of understanding of Bitcoin so if you want to venture into bitcoin or establishing Bitcoin you have to make your research and the follow the principles of your research and when you follow the principles I think that you will make well for the investment but some people think that if you are below 18 years you are not supposed to participate for bitcoin investment but I don't see any cogent reason for that because investment is something of mind and it is based on your own inquiring and the information you gather about such investment that to make you go invest on it it does not really matters their age but what matters is understanding and the knowledge you have towards such investment

Bitcoin investment doesn't have an age limitation, bitcoin investment are for both the young and adults.If there should a limitation of age in Bitcoin investment then there would have been no financial freedom,just like what the Op said that traditional banking gives restrictions to those below the age of 18(to open an account),but with Bitcoin there is no age limitation,the network is open and accessible to those who choose to explore it.Investing in Bitcoin at a young age is actually a nice decision to make,it creates more exposure to Bitcoin and also if a young person start investing in Bitcoin with consistent accumulation and when he/she gets to 50/70 years,that should be a reasonable and profitable amount of Bitcoin he/she has accumulated with an appreciative ROI.Investing in Bitcoin at an early age simply means you must be knowledgeable about bitcoin and securing your coin at all cost.

You can buy a coin from a decentralized exchange and equally sell in the same decentralized exchanges but the problem with decentralized p2p is that liquidity is always their problem, you don't get good rate enough. If you are having a $10 worth of coin and trading as a US citizen, there is high probability that you will see offer of buyer as $9.5 usd or even lower and if you are coming from a country where they used their local currency, there is going to be a lot of disparities between prices in decentralized exchange and centralized exchange.

Age might be a problem for someone who doesn't use a cex but I hope you know you can find your way out and sell Bitcoin but it's might be a crime in some jurisdiction. Bitcoin are also acceptable as payment from some shops and you might want to use other merchants who buy Bitcoin off exchange but they are risky as well but if you have been in crypto for long, you will know the real buyers.

Age limitation is generally everything that will obstruct most of the young minds but it's never consider important because the young ones are actually the ones biding for interest in the market. Bitcoin is easily accessible to everyone that have proper knowledge, knows how to make orders of buy and sell in the market. Remember, cryptocurrency is for everyone and it most people do become successful while some failed in their projects.

My post was about no age limit for bitcoin users but centralized exchanges and other centralized platforms can restrict under 18 from registering. So I did not understand why you quoted me and posted against what was simple as that. If you check most of the exchanges ToS and the requirements for verification, you will see how under 18 years can not use many of the exchanges. The reason I posted that it can be difficult for under 18 to use the exchanges.

Trust me, it is even beyond this discussion. I went through your posting history. Some people will just come to this forum and not think of how a thread is long and just start posting. Although that is common to some other users like you on this forum.

Yes I know. It is still about this thread discussion like what many people have posted that you kind of repeated again on the eighth page. Even if it is not spamming, what should we call it?

lol
I thought you would directly rather than redirect me man and persons like you need to grow and learn how to treat people especially below you and not feel you’re above everyone.
I asked a simple question why will under age find it difficult to use bitcoin and exchanges and you called it spamming ?
That’s a typical and clear saying that, you don’t know what spamming is and I think you should revisit your dictionary or better check google.

I never said you have to register to use noncustodial wallet or did I?
I don’t know why the hate but I hope you heal of the hate and learn to correct people and that’s the lrimoary reason why you’re at a superior rank so as to help people below you

You can go and decipher the reason on the centralized exchanges terms of service where you will see the reason. Also read my post again before posting spam in a way to fill up your weekly posts.

You do not need to register to have bitcoin on noncustodial wallet. There are also no KYC, web 3 and decentralized exchanges. So it is possible for under 18 years to use an exchange.

Why will under 18 years find it difficult to use exchanges ?
Was just wondering why and I think your mentality is as a result of your country or where you come from else I’m sure there are kids under the age of 18 who are already doing very fine in the cryptocurrency industry and market and I think that’s one benefit of cryptocurrency as it creates equality for everyone regardless of your age and status.

I personally don’t think age is a limitation in bitcoin and cryptocurrency at large as it has already been classified as the hope of the common man regardless of their age and statues quote.

If you are making money and no one asks you how you do it, I believe your parents will ask you how you make money. I don't know where you are from, but in my country, if our parents do not see us doing legitimate work and we make money, they have to ask us about our source of income, which we must explain because they do not want their children to get involved in illegal activity. However, in some cases where police doubt that you are participating in illegal activities and your parents are aware of your source of money, they can defend you in any situation. Bitcoin investing has helped today's youth to be able to survive because age is not necessary before creating a wallet to hold a bitcoin.

Sure, I don't think there's an age limitation for owning Bitcoin so far the person understand what they're doing and before one could create their own Bitcoin wallet it means that they already have an understanding about it despite their age and I agree with you that knowing the best and safest wallet to use in storing Bitcoin no matter the age is very important.

 I read an article sometime ago that Cryptocurrency is for everyday users and since Bitcoin is a Cryptocurrency, who are the everyday users? It could be anyone both big or small. But the issue about minors involving in Bitcoin is that they might not be allowed to sell their Bitcoin in a P2P market at large quantities.

 In my country there's a certain limit to what minors can hold or recieve in their bank account and since Bitcoin haven't gone very viral for every trader to accept it in general then it's going to be a problem for minors in my country since fiat is still widely used for buying and selling.

Well of course there is no age limit with bitcoin for fact that bitcoin is a freedom motivated currency having an age limit will only amount to it negating it's original sharp or intention of Satoshi Nakamoto.

With the decentralised nature of bitcoin any one can do anything at any time regardless of the age. This is a solid reason why but ii is far better than our regulated fiat currencies. perhaps it serves the purposes that fiat can't offer especially in terms of age limitations.

Bitcoin has no age limitation. I think the reason for this is that bitcoin buy sell, wallet creation is completely anonymous. No one can recognize the person behind the screen here, whether he is a boy or a girl, child or older. So I think there will be no benefit in age limitation in Bitcoin. Also Bitcoin is a decentralized currency.

A saying goes "early to bed, early to rise" therefore bitcoin investment should be started at the early stage of one's life because since we couldn't get the awareness earlier or we have grown in age when we acquired the knowledge, it is now a duty for us to make sure that our offspring start making investments in Bitcoin at the early stage of their life because we that have gotten some knowledge about Bitcoin will stand as a guide tool to help our children or the younger generation on how to go with their bitcoin investment and how to make judicious use of their money and invest in bitcoin because had it been we got the knowledge of bitcoin at the early stages of our lives we wouldn't have spent money extravagantly as we did in the past when a life changing investment in bitcoin is there to make us become responsible on how to spend wisely and also own an investment.

In the old days, youths only believe in enjoyment and spending money on frivolous items with the mindset that they will start owning investments only when they are grown but that mentality affected a lot of them that have turned adults now because some of them had the opportunity of owning huge investments when they were little but they missed out simply because they feel they were too young so advising the young people on the need to invest in Bitcoin now is a way of creating a wealthy life for the society in the future to come.

But a little more maturity would help the child becomes a professional before investing, like the age of 18years to 20years. The child can mastering and studying the process without buying Bitcoin in other not to be frauded by scammers or the traditional banking system looking into the child's account wanting to know the source of his/her income ,we can't say because the child is 16 years old and so much attention is not given to the account, if found with a huge sum of money in his account in a country that Bitcoin is not legal tender how does he proves it or even if Bitcoin is a legal tender .  Age 16 usually used to be the peak of adolescence and in going into Bitcoin, you need to be mentally stable,full concentration and much attention are also required .

O.k..

Let's focus on the old foggie for a bit.. The old foggie who is contemplating whether or not to get into bitcoin, and so, there should be some kind of an expectation that s/he is not going to need the money for 4-10 years or longer, so yeah, the bottom end of that is 4 years, and so how much to invest could be 5% to 25% of his/her investment portfolio.. yet, that may well be lump sum rather than DCA, but if there is a DCA approach, then every time any new DCA investment is made, then the presumption would be that the investment timeline is 4-10 years after any new amount that is investment.

it does not make any sense to expect to take 2 years to invest and to establish his/her position, unless the investment timeline is at least 6 years, since the end of that investment timeline would then have 4 years from the last time that money is injected.

Sure in the end folks can do whatever they like, but it seems that regular investing into bitcoin should be a 4-10 year or longer timeline, and if any person cannot achieve that (perhaps due to age and/or health considerations) then the person may well be gambling rather than investing.

I understand that a more elderly person (maybe in his 60s or 70s) might come into something like bitcoin with a 4-6 year or longer investment timeline, but then maybe some emergencies end up happening (healthwise) that end up causing the investment timeline to be shorter than originally anticipated, and presumably anyone coming into bitcoin in his 60s or 70s has already established various kinds of investment and may well already have various kind of income (or investments that he might already be drawing upon), so a person can still afford to consider that s/he has other sources of income and decide to invest into bitcoin as a kind of supplement (or complement) to other investment sources and still expect that s/he would be drawing upon other income sources, prior towards needing to dip into or to start to draw from bitcoin as an income source, and surely that timeline could still be 4-10 years or longer, even if the person might be higher in age with some uncertainties in regards to health.

Age is not a limitation in bitcoin, I know that an only person might not be interested in reading so much about bitcoin or knowing what's in its whitepaper, so I think basic knowledge or information is okay for them which is how to buy bitcoin, about exchanges and all those little stuff, but when the subject of investment comes in, we know that bitcoin is best approach with a long term mindset, but if they are already retired and very old would it still be a good advice for them to invest long term?

Yes an old person can still invest gor up to 4 years before starting to take profits from his investment, it isn't a must that long term investment must be up to 6 or 10 years but qt least he should have invested up a year of living expenses into bitcoin which can happen in the space if 2 yeaes depending on how much s/he allocated to bitcoin.

I don't think there anything age limitations when it comes to Bitcoin investment irrespective of the current age of that person because there are people that even at the age of 50 years they are still investing and holding Bitcoin because they believe that even if they are not to be around at there targeted years of holding there children will take over there investment and use it to establish themselves, so actually it all depends on the individual mindset or reason of holding.

However starting investment from the early age is much advisable because let's take for instance a person started Bitcoin investment at 15 years and with consistent investment on Bitcoin before he will get to 40 to 50 years he would have gotten so much amount of Bitcoin, also one thing that's not advisable on Bitcoin investment is invest a little amount and decided to leave it for years in other to appreciate because the possibility of getting a better profit will be very little.

If you are using a decentralized wallet, your age should not be a barrier. Bitcoins are traded and purchased through decentralized wallets. But you will need an exchanger to sell. Age becomes very important as the exchanger is concentrated. You cannot use any exchanger before you reach the age of 18 or an adult.To use Ekchanger you need to KYC the exchanger with NID or any type of citizenship. So age is not important for earning, buying and saving bitcoins, but age is very important for selling or exchanging.

Bitcoin doesn’t mind age and that’s why the population of those who invest in Bitcoin increases every day, if bitcoin has age or you must turn 18 years old before allowing to invest it won’t grow to the point it is today, but it also depends on how smart the person, it will be difficult for some young people like 10 years old because many of them are not that wise and smart that they can protect their wallet from the scammers, making money this day doesn’t mean by age because even 10 years old children know the value of money and they know how to spend it, young people like 18 years old down are the ones that even know expensive things because all they want to do is to live a luxury lifestyle.

The best way to make those who are not that smart enough to secure their wallet is to give it to those people who introduced them to it to make sure they wallet is secure but it also depends on how much you trust or believe the person some people are very wicked, I have seen where someone who introduced his friend to bitcoin scam his friend, so before giving your wallet to anyhow make sure it should be your family member or anyone you trust and he or she won’t scam you and be telling you a story at the end.

If you see it that way then I don't think there's any need of trying or starting the investment if we talk about age limitation, fine let's say he has been investing at the age of 15 and something happens that it's an emergency and he has more than his start up, do you think he'll be that patient to let it be without withdrawing? No, he must make sure he withdraw whenever amount he wants just to solve the problem at hand, doesn't have to wait till he's old enough before making use of his investment.