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Author Topic: Bitcoin as a gift for a baby?  (Read 2470 times)
bravehearth0319
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September 09, 2016, 09:20:12 AM
 #81

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?

Its a good thing to give bitcoin for a Baby, even though the baby don't know about your gift which is bitcoin, in the meantime when the right time comes for the age of the baby I think the price value of bitcoin is for sure is very stable and has a fix amount of price.

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Altynbekova
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September 09, 2016, 09:37:23 AM
 #82

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.

Yeah but it could potentially be a great gift imagine how much it can go up in the future and then the baby will thank you forever. Anyways i dont think it will lose its whole value and maybe you could manage it for the baby until he or she grows up!
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September 09, 2016, 12:20:28 PM
 #83

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.

Yeah but it could potentially be a great gift imagine how much it can go up in the future and then the baby will thank you forever. Anyways i dont think it will lose its whole value and maybe you could manage it for the baby until he or she grows up!
So you're basically placing some sort of bet for your children? :p
I wouldn't put all their savings on Bitcoin, but I would story like 1 or 2 btc for them to use in the future.

 

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September 09, 2016, 01:02:30 PM
 #84

It's definitely a creative and thoughtful idea.  I haven't heard much on this forum about paper wallets being a security risk.  To the contrary, I think they're the hardest ones to steal--but they can get lost, damaged, burned up in a fire, etc.  

Anyhow it's a great gift idea, so hopefully it goes over well.  Smiley
Yeah, it's a good birthday present when your niece just one year old and idea put it into paper wallet, she may bought a car or something that she need (education, etc) in time, about 15-20 years later when bitcoin has more higher price. Good luck with the present, she should love it.


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Wandering Soul~
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September 09, 2016, 04:43:52 PM
 #85

I think it will great, What a nice Idea! . Considering the potencial of bitcoin, When the time has come and the baby grows up. Imagine if the price of bitcoin is much higher compared today  Grin


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