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Author Topic: Bitcoin as a gift for a baby?  (Read 2636 times)
CoinCube
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September 09, 2016, 01:41:27 AM
 #61

I did this so obviously I think it is a great idea.

However, instead of a paper wallet I purchased a physical bitcoin from here.
https://www.titanbtc.com/

Giving a paper wallet is a lot like giving someone cash its likely to be squandered on the first tempting thing.
A physical bitcoin has to be destroyed before spending the money (back pealed off) and thus I figure the recipient
is less likely to waste it.

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September 09, 2016, 01:47:30 AM
 #62

I wouldn't risk it, because by the time she may use it, it might be a little risky as its' value could go up or down.

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September 09, 2016, 01:49:20 AM
 #63

I wouldn't risk it, because by the time she may use it, it might be a little risky as its' value could go up or down.
I believe that the price of bitcoin will rise in the future
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September 09, 2016, 01:55:09 AM
 #64

I wouldn't risk it, because by the time she may use it, it might be a little risky as its' value could go up or down.
I believe that the price of bitcoin will rise in the future
Keep bitcoins and make this like long term investment by bitcoins this are best idea i think. Yes, i Trust bitcoins will rising for the future.
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September 09, 2016, 01:58:00 AM
 #65

i doubt a baby would even enjoy getting bitcoin as a gift. you could give itto the parents to get started with a college fund or something, or show them how to set it up.
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September 09, 2016, 02:06:56 AM
 #66

while it is probably something that will benefit the child in the long run, very likely that it will, it is also not something that is much fun at all for the parents or baby. if it is something that you want to do, then give the baby a normal gift and later in the day or whenever give the parents that information and tell them how it works.  there is the technology to do all kinds of fun things that probably only sound fun to us because we are into this.  script the TX to be released only on the childs 18th birthday or make it a secure trust that needs both the child and the parents private keys.  there are countless things that would be cool, but in the end and in front of everyone that is watching, give the baby a fun toy
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September 09, 2016, 03:46:42 AM
 #67

its a good idea and she will be really luck when she grow up and see that she have much money in her pocket. i think maybe USB is good option to buy and her parents should keep for a while until she grow up.

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September 09, 2016, 04:41:48 AM
 #68

I wouldn't risk it, because by the time she may use it, it might be a little risky as its' value could go up or down.
I believe that the price of bitcoin will rise in the future
Keep bitcoins and make this like long term investment by bitcoins this are best idea i think. Yes, i Trust bitcoins will rising for the future.

We cant really predict the price of bitcoin on the future it might  rise or it might also fall  in upcoming years since no one really knows the future because we are just humans but as we can see all the speculation of most people here in this forum they said the same thing which bitcoin would really rise up  on the future and they believe on it.

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September 09, 2016, 04:46:24 AM
 #69

Well its nice if you want to give something for your niece, however put bitcoin for 15 years as a gift is not a good idea, we dont know what will happen in the next 15 years, maybe bitcoin not exist anymore or maybe become really valuable, but it is nicer if you could just give ordinary gift
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September 09, 2016, 04:46:48 AM
 #70

hey,Mike,remember uncle George?
Yes,that weirdo who gave you 0.125$ worth of some bs digital currency for your birthday 10 years ago.
Yep the college funds.
what was it ....buttcoin... no wait bidcoin can' remember now.

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September 09, 2016, 06:53:43 AM
 #71

Serious question.  My baby niece will be 1 year old in a few weeks and she's going to get lots of lovely and expensive presents from all the family, but I'm her geeky aunt and I want to encourage her geeky side.  I'm considering making her a vanity address , printing it on a paper wallet and funding it with some bitcoin, in the hope that by the time she's old enough to appreciate it, the value might have appreciated also.  But I have some concerns...

Is a vanity address sufficiently secure if I generate it and the paper wallet offline and assume my computer has no malware?  (I have enough antivirus/anti-malware software in action and really, if I do have that level of malware, I'm screwed anyway)

And the impossible question... is bitcoin a reasonable risk for such a long term investment?  If she's 1 now, it could be 15 years before she accesses the funds in that wallet.  I won't be able to sell out if I see a crash coming like I can with my own.  I know nobody can really judge what Bitcoin is going to do over that period and I don't want this to turn into yet another one of those speculation threads where people post crap.  So I guess my real question here is has anybody else done this or put bitcoin in cold storage for a similarly long period?

And are there any other considerations I haven't thought of?

Your concern regarding about the bitcoin gift for the baby was a very bright  idea actually. But the big question is, do you think that some of the member here in this forum done this things before? I think none of the participants in this forum haven't done this yet. Maybe because it will take a long period of time in waiting and we don't know what the exact happen after several years.
 

                                 
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September 09, 2016, 07:00:09 AM
 #72

Serious question.  My baby niece will be 1 year old in a few weeks and she's going to get lots of lovely and expensive presents from all the family, but I'm her geeky aunt and I want to encourage her geeky side.  I'm considering making her a vanity address , printing it on a paper wallet and funding it with some bitcoin, in the hope that by the time she's old enough to appreciate it, the value might have appreciated also.  But I have some concerns...

Is a vanity address sufficiently secure if I generate it and the paper wallet offline and assume my computer has no malware?  (I have enough antivirus/anti-malware software in action and really, if I do have that level of malware, I'm screwed anyway)

And the impossible question... is bitcoin a reasonable risk for such a long term investment?  If she's 1 now, it could be 15 years before she accesses the funds in that wallet.  I won't be able to sell out if I see a crash coming like I can with my own.  I know nobody can really judge what Bitcoin is going to do over that period and I don't want this to turn into yet another one of those speculation threads where people post crap.  So I guess my real question here is has anybody else done this or put bitcoin in cold storage for a similarly long period?

And are there any other considerations I haven't thought of?

No I haven't done it yet, Because I don't have a baby also. perhaps savings for my future baby I think, And I think nothing to loose if we try to do what you said, it will just compare like you are savings money in time deposit only the difference is you save Bitcoin.

.
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ruben0909
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September 09, 2016, 07:10:53 AM
 #73

why not ?  we might see after 10 years bitcoin worth will be x5 -10 . its a great use for the bay for His/her future

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September 09, 2016, 07:22:05 AM
 #74

nice idea but i think baby stuff is still the best thing to give
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September 09, 2016, 07:29:12 AM
 #75

I did this so obviously I think it is a great idea.

However, instead of a paper wallet I purchased a physical bitcoin from here.
https://www.titanbtc.com/

Giving a paper wallet is a lot like giving someone cash its likely to be squandered on the first tempting thing.
A physical bitcoin has to be destroyed before spending the money (back pealed off) and thus I figure the recipient
is less likely to waste it.

I totally agree with your idea, giving paper wallet is too risky as it can be torn or misplaced but if you give a physical bitcoin with framed or packed very nicely, then they can store it in showcase and when she turns to the maturing age , if bitcoin is their then surely it will be more then what you are offering todays value.

I will try this idea with my cousin, Thanks for the idea.

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September 09, 2016, 07:51:38 AM
 #76

i doubt a baby would even enjoy getting bitcoin as a gift. you could give itto the parents to get started with a college fund or something, or show them how to set it up.

You are right in way but on the other hand who knows what a one year old baby will enjoy as a gift? I've spent lots of time with babies of that age and I can tell you that what they value the most is attention, not things of any kind. They like when you smile to them but somehow they feel whether it's genuine or false and they react accordingly.

So I think Bitcoin is a great gift for a one year old baby. Bitcoin and a genuine smile. )

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September 09, 2016, 07:55:47 AM
 #77

Why not? Baby can't use it, yet, but when it will be old enough she could understand the realq value of it. Maybe this will be her entrance into crypto world. And that would be the most unique present, that is for sure.

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agamasrori
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September 09, 2016, 07:56:21 AM
 #78

Wow that look like a crary idea because baby are can't use bitcoin ( if what you mean baby is litle child ). But if i think possitive way, bitcoin can good gift for a baby because if you buy bitcoin in this time when the price is standard , the baby can get more value when the baby grow up. Bitcoin price must be rise in the future.


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susila_bai
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September 09, 2016, 08:01:53 AM
 #79

Well its nice if you want to give something for your niece, however put bitcoin for 15 years as a gift is not a good idea, we dont know what will happen in the next 15 years, maybe bitcoin not exist anymore or maybe become really valuable, but it is nicer if you could just give ordinary gift

What you are telling is not true, even their is no idea that whether you will be living or not in next 1 hrs, so for that you cannot stop living, like this only , hope is main thing which is giving life.

I like the idea of gifting bitcoin to baby on birthday gift, because all of them will give gift which are worth for some time, but you are giving for the future help for the baby. Tomorrow what will happen for that we cannot stop living, that is why bitcoin tomorrow what will happen dont worry about it. You can go with it.

Their are two ideas i like from the above reply , one is giving bitcoin as physical gift which is very worthy and another you were trying to give paper wallet but instead of that you can print the wallet on any thing which is fancy item so that they can store it for long time.














 

 

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entrepmind23
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September 09, 2016, 08:38:58 AM
 #80

I think bitcoin is a good idea for a gift because it would be a long term investment. Given the situation now, bitcoin is becoming popular and our technology is innovating now and then and the idea of using digital currency would appeal to more people therefore an increase in its demand. As years would go by, I believe its value will keep increasing and by the time the baby is old enough to access his wallet then maybe it would have multiple times value over than what it is now so I think its really a good investment. There is a risk that it might not be as valuable as what we are thinking now but its good to get in the game while they are still young.



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