Will bitcoin pay for College? | Bitcointalksearch.org

Zorrocoin

sr. member

Activity: 336

Merit: 250

Quote from: Pathi on July 13, 2015, 10:34:52 AM

Today I created wallets and gave 1 bitcoin to each of my Grandchildren. The oldest is 7 years old. Will 1 bitcoin be worth a college education in the US when it is time for them to go??

Will the college accept BTC by then ?? Cool

By the time your grand kid goes to college, the fees of the college will be double the value you have of 1 bitcoin, I do not think it is sufficient. I mean it can not be predicted for sure, anything could happen really , but most chances are that college fees are gonna be accelerating at the speed of light.

farting_shot

full member

Activity: 318

Merit: 100

College tuitions were going up in the 80's, I remember because I was there. There were newspaper articles warning of the increases in college tuitions back then. I graduated in 1989. I didn't pay off my college loans until about 10 years ago. They were low interest (less than 5% APR, remember these loans originated in the 80's when interest rate was high) loans, so I took my time paying them off by making minium payments.

To answer GP's question, No, 1 btc will NOT be able to pay for college in 10 year or 20 years. Many people think bitcoins are sure fire way to "get rich quick" but I have to tell you there's no such thing. Not in this life, or the next. Sure, keep the bitcoins in your wallet or your kid's wallet for the next 10-20 years. As you said, it's a gamble. Just don't count on it.

Dilla

hero member

Activity: 588

Merit: 500

If Bitcoin is prevalent; absolutely.

TheRealistMassiah1

newbie

Activity: 28

Merit: 0

I'm not a fortune teller by any means but I don't think college tuitions have such conditions that they can reverse the trend of increased tuition... unless something drastic happens in the forsee-able future of the next decade I guess 100,000 in savings sounds pretty solid for tuition savings.

Pathi

sr. member

Activity: 244

Merit: 250

Quote from: TheRealistMassiah1 on July 13, 2015, 10:45:30 AM

with the current rate of year over year increase of tuition by 6% - 20% ... I'ld hope you have a projected target savings of atleast 100,000 USD in 10 years for each one of your grand children ... and even then thats a shot in the wind hoping to hit something good!

Actually I think that tuition will decrease over the next 10 years. I am pretty sure that the private student loan industry is going to collapse in the next 5 years or so. Due to government enforced write-downs of existing loans, much tighter standards for lending etc.

Current market is completely out of control with college kids carrying debt that is impossible to pay off.

To a lessor degree I think there may be some backlash against state run lotteries, which will reduce funding that comes from these also.

Over the last 20 years or so I have watched tuition skyrocket due to all the easy money out there. If this disappears I expect tuition to go back to something reasonable. Plus all the fly by night for profit colleges will go away probably.

Pathi

sr. member

Activity: 244

Merit: 250

Quote from: Morecoin Freeman on July 13, 2015, 10:43:33 AM

I would not count on it. Fun gamble though and just a couple of bitcoins is not too risky.

Especially since they came my way via ltc selloff on Friday morning.

TheRealistMassiah1

newbie

Activity: 28

Merit: 0

with the current rate of year over year increase of tuition by 6% - 20% ... I'ld hope you have a projected target savings of atleast 100,000 USD in 10 years for each one of your grand children ... and even then thats a shot in the wind hoping to hit something good!

Morecoin Freeman

hero member

Activity: 854

Merit: 503

Legendary trader

I would not count on it. Fun gamble though and just a couple of bitcoins is not too risky.

OmegaStarScream

staff

Activity: 3500

Merit: 6152

Quote from: Pathi on July 13, 2015, 10:34:52 AM

Today I created wallets and gave 1 bitcoin to each of my Grandchildren. The oldest is 7 years old. Will 1 bitcoin be worth a college education in the US when it is time for them to go??

Will the college accept BTC by then ?? Cool

So Basically in about 10 years , I'am not sure how much you should pay for college on USA but I'd assume more then 20k $ ? I don't think 1 BTC will worth that much after 10 years , even if it does , college will most likely won't be accepting them .
but there still a chance that 1 BTC will help on paying because we will pass through 3 Halving block rewards . next year and the others each 4 years

Pathi

sr. member

Activity: 244

Merit: 250

Today I created wallets and gave 1 bitcoin to each of my Grandchildren. The oldest is 7 years old. Will 1 bitcoin be worth a college education in the US when it is time for them to go??

Will the college accept BTC by then ?? Cool

Topic: Will bitcoin pay for College? (Read 631 times)