Saving Bitcoins for your Children. - page 133.

diegz

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Quote from: raliyat on October 22, 2017, 01:03:27 AM

I believe in Bitcoin so I confidently start saving bitcoins for my children at least for next 5 year and after that the value of saving can be increased according to the situation of required financial conditions.

What?

If you want to save something for the future, I think it would be faster if you would use the bitcoin you have than keeping it. Engaging in business or atleast trading it to other coin could possibly make you earn more, provided that you allocate a time to it.

I am thinking too that it would be safer if we would invest it in real life businesses or keeping it half of our savings in fiat than putting it all together in bitcoin.

xaxistech

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I think that saving bitcoins for your Children is a great idea (if I ever have any I would do it), I mean if we look at how it's been going it can only go up at this point.

And it's actually great because this is a long-term savings for your children which will turn into even more money in the future since you're holding the coins for awhile!

raliyat

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I believe in Bitcoin so I confidently start saving bitcoins for my children at least for next 5 year and after that the value of saving can be increased according to the situation of required financial conditions.

corroze

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preparing a future savings for a child needs to be needed early on, but it seems I'm a bit late doing it because circumstances that don't allow me to save money for child savings, but because right now I have had a good income from bitcoin I always keep a little bit of my income in bitcoin for the future of my child someday because I trust bitcoin more than I have to save in bank becauce by saving in bitcoin of course many benefits will be obtained from the savings.

Pumapipa

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Quote from: enterprevic on October 17, 2017, 08:29:52 AM

Like every other investment such as real estate, stocks and other forms of investment we know that you can invest in that kind of things and then you get something like say a Certificate or a Binding Document as a proof that you are part of that investment, now that of bitcoin all you have is just your address, your password, key and seeds as proof of the ownership of the wallet.

BTC

So now if one is considering buying bitcoins and saving for his/her children in the future is there any way to do that with bitcoins apart from having to write down your details somewhere. I'm asking because with that kind of stuff if no one knows your seeds or password no one can get the coins. Huh

Before, that thought haven't pass by my mind lately. But since you have mentioned it, it made me think: "why not?"
This is a possibility. I think I will begin saving little by little bitcoin so that in the future, my daughter will inherit the bitcoins that I have saved up for her. Since, bitcoin is the future of our currency, by the time my daughter gets her share of coins, there will be more secured system here to assure that proper turnover will be facilitated.

HabBear

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Quote from: enterprevic on October 17, 2017, 08:29:52 AM

So now if one is considering buying bitcoins and saving for his/her children in the future is there any way to do that with bitcoins apart from having to write down your details somewhere.

No. Next question?

You need to leave instructions on how to access your Bitcoin not for your children, but for ANYONE who would be considered an heir and inline to receive and access your Bitcoin wealth.

Yes, it needs to be written down. How else do you communicate something to someone who doesn't already know?

There are numerous ways to do so safely.

szpalata

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Quote from: dedet on October 21, 2017, 11:20:32 PM

yes of course I save Bitcoin for the future of my children. and from bitcoin I want to open a cake business. and the result of some of the cake business I will give to my children later

Not a bad idea but i hope you're not trying to raise funds for the cake business through signature campaigns as that would make it take a long time to fulfill but you can rather buy bitcoins with your fiat, hold and sell when the price shoots up to your desired rate and then sell.

bbs98

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I always try to teach my wife mischievous children, to avoid things that I do not want in the future, do not let that happen to fight each other because Bitcoin, and some I set aside to build a family business so that everyone can enjoy. company results..

Faruque312

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1st I need to success in my life for bitcoin. if I success for bitcoin then I will save some bitcoin for my children. And I know and I believe it bitcoin can change my life and also my children. Bitcoin is safe and secure for me and my children.
so I agree with you I want saving bitcoin for my children

Mrnat

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Quote from: enterprevic on October 17, 2017, 08:29:52 AM

Like every other investment such as real estate, stocks and other forms of investment we know that you can invest in that kind of things and then you get something like say a Certificate or a Binding Document as a proof that you are part of that investment, now that of bitcoin all you have is just your address, your password, key and seeds as proof of the ownership of the wallet.

BTC

So now if one is considering buying bitcoins and saving for his/her children in the future is there any way to do that with bitcoins apart from having to write down your details somewhere. I'm asking because with that kind of stuff if no one knows your seeds or password no one can get the coins. Huh

Hello, as many might have recommended, instead of buying and keeping it for very long, you could buy it at maybe the next dip, and give yourself some minutes once in a while to get updated regarding them, remember that bitcoin is passing through hard times now, maybe the future is not bitcoin or maybe other altcoin, Proof of Work it´s something that works but not the best method available. So i believe new technology will replace someday the bitcoin, or maybe the same bitcoin will get stabbed by its own developers... i might look negative, just use common sense to understand what segwit is and how it works....
Best of luck
Hopefully this might help you in your decision
Blessings

Dudeperfect

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Quote from: TaintedOwl on October 21, 2017, 10:46:40 PM

Another aspect of this is you die before parents like what happened to a family recently. They only found out he had bitcoin through his banking history and seeing these repeated transactions to a exchange. They contacted the exchange and are in the process of figuring out ownership.

Think how often that is going to happen to bitcoiners when the majority have no idea what a wallet is or how to navigate it.

Saving for the kids is a fine goal if you stay on top of the investment and pull out if it gets to swingy. If you plan to sit on it till they mature and not do any trading, then I think there may be issues.

I don't think that there is an issue in keeping the funds ideal in cold storage. However, one must inform and explain about Bitcoin to his family members to avoid the incidents like you mentioned above.

I have maintained a cold storage for my Bitcoins and I keep explaining about Bitcoin to my friends and family members so that in case of any unfortunate incident they will be able to extract and cash out my Bitcoin holdings.

jake zyrus

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Quote from: paolo099 on October 17, 2017, 08:47:38 AM

that's a nice and smart move from you, props to you.
Saving something every months (fiat, btc) for our childrens it's the best way to give them something to start with, you never know what's the future holds and if now we are able to save something that's something that everyone should do, think about our childrens!

I would buy an hardware wallet in a security box in a bank (or hidden somewhere safe aka fireproof, waterproof, dustproof, etc.etc.) with the instructions and give all the details to another trusted person, that's it.

Saving bitcoin for my kids is very good, because Im not getting younger anymore. Earlier saving for thier future make them life secure. I invest and trading in bitcoin and the money I earn from bitcoin I save it for thier schooling and other thier needs, so I dont worry about if I retired earlier in life, Im prepared for thier future the money I saved from bitcoin.

dedet

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yes of course I save Bitcoin for the future of my children. and from bitcoin I want to open a cake business. and the result of some of the cake business I will give to my children later

Bitcoinjheta

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Quote from: ocid on October 21, 2017, 11:09:26 PM

Quote from: enterprevic on October 17, 2017, 08:29:52 AM

Like every other investment such as real estate, stocks and other forms of investment we know that you can invest in that kind of things and then you get something like say a Certificate or a Binding Document as a proof that you are part of that investment, now that of bitcoin all you have is just your address, your password, key and seeds as proof of the ownership of the wallet.

BTC

So now if one is considering buying bitcoins and saving for his/her children in the future is there any way to do that with bitcoins apart from having to write down your details somewhere. I'm asking because with that kind of stuff if no one knows your seeds or password no one can get the coins. Huh

it's a good move to make a future savings for your child, but personally you should be able to keep your secret keywords and try not to have anyone else know except from one of your family who knows and can be trusted to keep a secret you can explain to one of the families that you believe the bitcoin you will save for your child in the future, because if you teach bitcoin to your child from now I think it's too pushy because kids in their young age just love to spend their time to play and learn. make a member of your family like a trustworthy heir.

Its nice to hear saving bitcoin for your children. But for me is different i only save bitcoins and trade in higher prices because i am a free earner in this site. I will save in a hard cash for the mean time for a wise manner because we will never know about what happen in a future.. A reason to be wise as it already a money to save for my children future.

ocid

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Quote from: enterprevic on October 17, 2017, 08:29:52 AM

Like every other investment such as real estate, stocks and other forms of investment we know that you can invest in that kind of things and then you get something like say a Certificate or a Binding Document as a proof that you are part of that investment, now that of bitcoin all you have is just your address, your password, key and seeds as proof of the ownership of the wallet.

BTC

So now if one is considering buying bitcoins and saving for his/her children in the future is there any way to do that with bitcoins apart from having to write down your details somewhere. I'm asking because with that kind of stuff if no one knows your seeds or password no one can get the coins. Huh

it's a good move to make a future savings for your child, but personally you should be able to keep your secret keywords and try not to have anyone else know except from one of your family who knows and can be trusted to keep a secret you can explain to one of the families that you believe the bitcoin you will save for your child in the future, because if you teach bitcoin to your child from now I think it's too pushy because kids in their young age just love to spend their time to play and learn. make a member of your family like a trustworthy heir.

cammie16

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Quote from: enterprevic on October 17, 2017, 08:29:52 AM

Like every other investment such as real estate, stocks and other forms of investment we know that you can invest in that kind of things and then you get something like say a Certificate or a Binding Document as a proof that you are part of that investment, now that of bitcoin all you have is just your address, your password, key and seeds as proof of the ownership of the wallet.

BTC

So now if one is considering buying bitcoins and saving for his/her children in the future is there any way to do that with bitcoins apart from having to write down your details somewhere. I'm asking because with that kind of stuff if no one knows your seeds or password no one can get the coins. Huh

For me, I am not agree about saving bitcoin for your kids because we cant tell what will happen tommorow. Bitcoin price is unstable it goes up and it goes down too. Maybe this is a good investment in the future but its better to have hard cash or your own house and lot to give to your children. Just buy it with your earned bitcoin.

TaintedOwl

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Another aspect of this is you die before parents like what happened to a family recently. They only found out he had bitcoin through his banking history and seeing these repeated transactions to a exchange. They contacted the exchange and are in the process of figuring out ownership.

Think how often that is going to happen to bitcoiners when the majority have no idea what a wallet is or how to navigate it.

Saving for the kids is a fine goal if you stay on top of the investment and pull out if it gets to swingy. If you plan to sit on it till they mature and not do any trading, then I think there may be issues.

karisiak123

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yes i want to save some bitcoin for my child. I want to open the field of business, from the results obtained from bitcoin. and the results of that effort will I give to my children.

sheamus10

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if for key or password, family and children we have to know that when there are things that are not in want we could get help from a family that we believe. Because all the coins we get are also for the future of a child.

eann014

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Quote from: websoftwareengineer on October 21, 2017, 12:15:38 PM

Parents that are staying at home like a wife that are taking care of their children can still work at home because of bounty campaigns and it was an advantage for them to stay connected to their child while working at the same time.

I agree, house wife can work freely at home while taking care of their child/children. I am also have a child and I am not unemployed because of his condition because he needs more attention right now and I am glad I've know how to earn bitcoin so I can give his needs. I can also have some savings for him for his better future because of bitcoin.

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