Saving Bitcoins for your Children. - page 142.

happyme1818

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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

You can make a video instruction on what to do in case you die. Just like a last will testament. If you do that then your children's future would be fine.

allohha

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Quote from: lexamagic on October 17, 2017, 02:33:15 PM

Quote from: DrYe5 on October 17, 2017, 02:10:58 PM

Quote from: sofi@ on October 17, 2017, 01:55:36 PM

Its not bad if you want to put some investment in bitcoin for your children but I would suggest not to put everything on it though the value of bitcoin really rising so fast still we are not sure of its value in the future what you can do is make some sort of test in the market you can buy some and hold for while then sell them with a good mark up when value appreciate then invest again, don't hold for too long

This is not a bad idea. I thought about it, but it is quite risky. We can not predict what will be in a few years. The bitcoins will survive, but if your plan succeeds, your children will have a lot of good.

Yes, crypto currency is always a risk. But we are always watching. We can leave a few coins for the future, but if the price goes down sharply, you can sell your coins.

Generally I think that at least somewhere around 10 or 15 bitcoins will stay afloat and that's why we will be able to earn very well on this. It will still go up, but during this period you must protect yourself from losses and that it was not only for your children but for yourself. It seems to me that it is the best investment in a real business that is the best way out for a start.

lexamagic

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Quote from: DrYe5 on October 17, 2017, 02:10:58 PM

Quote from: sofi@ on October 17, 2017, 01:55:36 PM

Its not bad if you want to put some investment in bitcoin for your children but I would suggest not to put everything on it though the value of bitcoin really rising so fast still we are not sure of its value in the future what you can do is make some sort of test in the market you can buy some and hold for while then sell them with a good mark up when value appreciate then invest again, don't hold for too long

This is not a bad idea. I thought about it, but it is quite risky. We can not predict what will be in a few years. The bitcoins will survive, but if your plan succeeds, your children will have a lot of good.

Yes, crypto currency is always a risk. But we are always watching. We can leave a few coins for the future, but if the price goes down sharply, you can sell your coins.

DrYe5

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Quote from: sofi@ on October 17, 2017, 01:55:36 PM

Its not bad if you want to put some investment in bitcoin for your children but I would suggest not to put everything on it though the value of bitcoin really rising so fast still we are not sure of its value in the future what you can do is make some sort of test in the market you can buy some and hold for while then sell them with a good mark up when value appreciate then invest again, don't hold for too long

This is not a bad idea. I thought about it, but it is quite risky. We can not predict what will be in a few years. The bitcoins will survive, but if your plan succeeds, your children will have a lot of good.

sofi@

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Its not bad if you want to put some investment in bitcoin for your children but I would suggest not to put everything on it though the value of bitcoin really rising so fast still we are not sure of its value in the future what you can do is make some sort of test in the market you can buy some and hold for while then sell them with a good mark up when value appreciate then invest again, don't hold for too long

Sskapollo7

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Maybe this is the best option for those who have started or known to Bitcoin a bit late , cause for a specific amount to gain or earn will need time and patience.
So it's better to save for our children

rasmadisulaiman

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It's a wise idea to apply to those who want their children to have a good future. I will do the idea of saving bitcoin for a child. It can be used for the benefit of the child if it is urgent. It is very nice.

bitorama

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good idea, do not leave house or money, just leave a private key to the children

dificanovi

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bitcoin I had for my wife and son. bitcoin I tube then I give my bitcoin to my child for his school needs. I want my family future to be happy.

Arumi.Bilqis

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If I have a little coin, I will save for the future of my child and family, and I strongly agree if I can keep my coin and I will do this early and I am grateful that there are some coins I keep.

tobs

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Quote from: kenkoy on October 17, 2017, 11:34:50 AM

Most hackers nowadays are developing and evolving , adapting to security improvements. Though, saving Bitcoin for your children's future is a noble idea. Maybe you can keep BTC for yourself first and when the time you need it for your kins, you can cash it out and buy another investment like a property. Bitcoin market is volatile, so it is best to keep track of it.

I agree. It'd be better to recognize bitcoin as a normal currency, therefore by saving it for children, you would just save some money for them, but don't put everything into bitcoin, as you don't know what will happen to it in 15 years. I know that many people believe in bitcoin as it's the first cryptocurrency, but I personally believe that in 10 or so years, new cryptocurrencies will be so advanced that old bitcoin will become extinct and only used by oldschool enthusiasts. So invest in cryptos as a general to get some money for your children in the future, but don't focus on a single wallet that you will give them in after 18 years when they are adults, as it can become worthless then.

spngebob

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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.

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

You actually need to know private key and that's it.
Create paper wallet and store it somewhere where nothing can harm it, deposit some bitcoins on it and share that information with someone you trust most(i would say wife but who knows Grin

) and that's pretty much it.
When your kids grow older learn them about bitcoin and how to use it.

f150

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Quote from: jc89 on October 17, 2017, 12:25:45 PM

Quote from: JoseClimaco on October 17, 2017, 08:35:57 AM

I made a paper wallet for my son and I deposit a smaller amount of Bitcoins there every month. I kept it in a secret place that only me and another person knows.

That's great move you did, man! I hope once your son reached the right age the coins are still intact. And of course I do hope he will put it to great use and keep in his mind how much you worked for it and kept it safely for his future. Being parents sure is hard and you always put your children's needs before yours. Even if they're still tiny as a kitten you already set your goals and see to their future. If I'll have children of my own in the future I might also save some btc and other coins for them and educate them about it as they age. But most importantly I'll see to it to acquire other assets that can secure their future other than cryptocurrencies to be sure.

Indeed, the steps you are doing are good enough to store bitcoin and teach it to your child, but I suggest to wait for your child's age to maturity. when growing up you teach about bitcoin to him, but if your child's age is under age you do not feel sorry if that happens? Children still need to play, what happens if they already know about bitcoin. Surely the play time is up and focus with bitcoin.

piebeyb

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I teach them first because I know this is not easy, of course I am very happy bitcoin can be used by my child also later, i just keep it for my son some bitcoin at least it can be an asset for the future

TrumpD

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It is a good idea for people looking to save something for their kids future. However, It seems kinda complicated. Who keeps the private keys. Myself or the kids. The wife, a trusted friend, lawyer, relative? Whomever has them can spend them.

andylowe

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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

Yes of course, if I had lots of money now,I would definitely buy it with loads of bitcoins for my child's future needs. But still, I will not put all my money into bitcoin because I would always still apply the saying that you shall never put your eggs in just one basket. Meaning we should diversify our portfolios. So that whatever happens to any of your investment, still the other survives.

jc89

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Quote from: JoseClimaco on October 17, 2017, 08:35:57 AM

I made a paper wallet for my son and I deposit a smaller amount of Bitcoins there every month. I kept it in a secret place that only me and another person knows.

That's great move you did, man! I hope once your son reached the right age the coins are still intact. And of course I do hope he will put it to great use and keep in his mind how much you worked for it and kept it safely for his future. Being parents sure is hard and you always put your children's needs before yours. Even if they're still tiny as a kitten you already set your goals and see to their future. If I'll have children of my own in the future I might also save some btc and other coins for them and educate them about it as they age. But most importantly I'll see to it to acquire other assets that can secure their future other than cryptocurrencies to be sure.

jamesdean35

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Yesterday i saw a dream at my sleep.i was saying my grandchildren like that;hey my son.you know i bought bitcoins about 2000 usd's and he shocked because on these days even 1 satoshi becomes thousands dollar. Cheesy

ahah its just a dream and good utopia

imteaz

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It's a fantastic idea to keep bitcoin for your children, because you never know how much it will be after 10 years, and it might make fortune for our children. But only problem is, if you keep it in exchanges, there high probability to get hacked. So i guess it would be safer, if you put it in MEW, or any other wallet in your desktop or laptop with backup.

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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

I do not fully agree though until now bitcoin is a lucrative investment but we never know what will happen, it is impossible bitcoin prices will continue to increase like real estate. sorry to say that, because I think that until whenever real estate is the most profitable investment in the world.

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