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Author Topic: Saving Bitcoins for your Children.  (Read 24422 times)
Shikaina
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December 08, 2017, 11:16:19 PM
 #1341

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 a good idea. Im also thinking of doing the same. It could help them when the time comes for them to be in collage. College is not cheap so i will need a good savings for this matter.
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December 08, 2017, 11:53:55 PM
 #1342

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 Huh Huh
If you want that bitcoin to go to your children you will need to write it down somewhere and put it in a place no one has access to that way only your children will get to access that money if you die, now if you happen to know that you are sick you could give that bitcoin before you pass away avoiding the trouble for them to figure out how to claim your bitcoin.

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December 08, 2017, 11:58:38 PM
 #1343

It honestly hadn't occurred to me to set a few aside for my daughter until I saw your post but I'm totally going to do that now, great idea.
sathvik112
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December 08, 2017, 11:58:56 PM
 #1344

Saving bitcoin for your children is a better idea for their future. Fiat fixed bank deposit on children names generates no better interest for their future but little investment in bitcoin for their future creates an asset for them.
christina30
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December 09, 2017, 12:10:29 AM
 #1345

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 Huh Huh


They can save some of it up little by little so when they order they can afford a car or continue with their investment for a good future where they will have financial security. I think the best idea is to teach your children on how to use Bitcoin so they understand and earn some for their future.
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December 09, 2017, 12:12:40 AM
 #1346

Essentially nope there is no way other than writing it down, or a paper wallet, or a video will there are a finite amount of ways you can do this. Alternatively you could give some to them before you pass that way they will learn about it quicker. But those private keys are important and if you don't have that stuff then essentially GG and you don't want to do that will all that money. Never before have you been able to lose such a big sum of money with such small action.

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CutoutIsTaken
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December 09, 2017, 01:06:33 AM
 #1347

Instead of saving bitcoins for his children, my uncle just encouraged his kids to buy them when they were like 30 bucks a coin. It was very, very good advice. I think my cousin about my age bought 10 or so.
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December 09, 2017, 04:02:08 PM
 #1348

yes this is a good idea bitcoin have a bright future so I already saving 1 BTC for my family future.
oseventwenty
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December 09, 2017, 05:54:59 PM
 #1349

yes this is a good idea bitcoin have a bright future so I already saving 1 BTC for my family future.

My main aim is to get 1btc (plus 0.05 for fees). I hope to get it before 2019.

Jf Annie
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December 09, 2017, 06:13:38 PM
 #1350

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 Huh Huh
it's a very good idea. Saving bitcoin for our children and our future.
Sir Paijoe
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December 09, 2017, 06:27:57 PM
 #1351

I'm not planning on saving bitcoin for my children, this is because bitcoin is too volatile and there is no 100% guarantee that the price will be higher than it is now, I will regret if the bitcoin saving and its value someday not more than $ 1000.

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R777
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December 09, 2017, 07:26:00 PM
 #1352

when my children grow up, it is most likely not bitcoin, and another asset will be in price
GreenBits
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December 09, 2017, 10:16:02 PM
 #1353

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 Huh Huh



because kids are kids, you may want to do this with a hardware wallet. the updates will ensure that the kids will be able to spends the coins at some distant point in the future, even if there is a major change in the protocol (for example, the way public addresses are formatted). this wont be quite so easy to lose or destroy as a paper wallet as well, and wont be subject to breach simply if someone finds it (the damnable paper wallet).

most paper wallets have this terrible flaw; the private and public keys are clearly labeled and visible once you obtain the document. the best paper wallets have your information on them, but in  way that only you understand. if its too clear and someone finds the paper key, then you just gave away the keys to your kingdom in a very clear and concise format Cheesy
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December 09, 2017, 10:53:19 PM
 #1354

Its better to say i can save money for my kids from bitcoin.  Perhaps bitcoin is good enough but the risk of keeping a bitcoin in our wallet is very risky most specially if our wallet hacked by hackers.

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Mapagmahal
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December 09, 2017, 10:59:31 PM
 #1355

Its better to say i can save money for my kids from bitcoin.  Perhaps bitcoin is good enough but the risk of keeping a bitcoin in our wallet is very risky most specially if our wallet hacked by hackers.

Savings bitcoins for our children is a good idea even if we always just put a small fraction on our wallet base on our income. It will grow in the future if the price of bitcoin will reach new highs but i agree that there will be an issue with these hacker if they compromised our wallet so we need to be extra careful by using multiple wallets or by buying some hardware wallet.

i use to be a hunter
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December 09, 2017, 10:59:44 PM
 #1356

yes i will save Bitcoins for my children and future
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December 09, 2017, 11:17:56 PM
 #1357

Im saving bitcoin not only for my child but for my future wedding or we should say for my future family im investing her in bitcoin to earn and have an income and when im earn 20 to 30 percent of my income was in bank but the rest was  in the investment to prepare for the future because if you are saving it is easy for you to buy and provide what they needs.
Investing in bitcoin needs to be a priority, investing for a future expense is smart but it is even more smart to avoid that expense and if that is impossible to expend as few of our bitcoin as we can, bitcoin is giving very strong signals this is not the end and that we may reach higher prices very soon.

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December 09, 2017, 11:39:38 PM
 #1358

Bitcoin has become so big it's unstoppable now. It's going to stay parabolic for a while and of course any kind of saving will benefit of being moved to bitcoins.
Explanation here: https://medium.com/@netcashfx/bitcoin-an-experience-of-hyperdeflation-5f7ac369b721
Just watch out for a major shift of sentiment but if you're here you are one insider
ReindeerOnMe
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December 09, 2017, 11:43:07 PM
 #1359

yes i will save Bitcoins for my children and future

Saving bitcoins for our children, or becoming children is good, but I think if we can put that to investment I think that will be better. Not all the time. the price will be always pumping and even if the price are increasing, the number of your saved bitcoins will not be changing, so I think if you can invest your bitcoin into sites like gambling or exchangers, not only the price will increase, but also the amount of your saved bitcoin.
An0nyMoose
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December 09, 2017, 11:47:05 PM
 #1360

I think any parent that knows about Bitcoin needs to strongly consider saving Bitcoin for their children at this point. In fact, if they did in the past year they would get 10x return on their investment in just 1 year. A $5,000 investment 1 year ago would pay for a couple of kids college educations... that is how much Bitcoin can help your life when you invest.

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