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Author Topic: Saving Bitcoins for your Children.  (Read 23820 times)
Wong Goblog
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January 11, 2018, 10:39:17 AM
 #1941

Saving system models in the banks will make children diligent to save, they hope that someday can buy anything by saving in banks, but by saving bitcoin then everything becomes easier and faster.

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January 11, 2018, 10:39:57 AM
 #1942

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

The bitcoin is so volatile. Saving it for your children for me is not a good idea. we dont know the status of btc after 20 years it could be better or worse.
Perhaps there's new coin/token that take the place of btc after 10-20 years.

Mutual fund is good to invest if you kids' future.

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January 11, 2018, 10:49:16 AM
 #1943

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

Lol...
So you need to give your wallet password to the second person.
indog
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January 11, 2018, 10:49:28 AM
 #1944

for now I have not thought of getting there, but after I know all about bitcoin this maybe I think to go there, because at this time I also have no descendants.hahaha ..

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January 11, 2018, 10:53:53 AM
 #1945

Hi,

If you want to save bitcoins or any other coin for your kids, I would suggest keeping your keys in a hardware wallet like Nano Ledger S. I costs a few bucks, but at least your coins are save.

Here is the website:
https://www.ledgerwallet.com/

jangangilaya
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January 11, 2018, 11:04:02 AM
 #1946

I don't think that's a good idea, because bitcoin is so unstable and there are still many negative problems that can not be overcome, so bitcoin is not very convincing in the future, because the government can ban bitcoin from circulating again, and all the bitcoin that has been in the tube disappears , should my advice save with paper money, in the form of a deposit in the bank
cryptolerant
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January 11, 2018, 11:07:59 AM
 #1947

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

The bitcoin is so volatile. Saving it for your children for me is not a good idea. we dont know the status of btc after 20 years it could be better or worse.
Perhaps there's new coin/token that take the place of btc after 10-20 years.

Mutual fund is good to invest if you kids' future.

I agree. We cannot even predict tomorrow, how can we leave legacy for 20-30 years later. I will be preparing my legacy in different forms like stock exchange, usd, little btc and little alt coins. whatever grows is good.
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January 11, 2018, 11:09:53 AM
 #1948

You may include some of the details of your bitcoins in a will or simply store in an offline hardware and keep the details in a safe that your family has access to.
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January 11, 2018, 11:14:38 AM
 #1949

Saving bitcoin for our children is a very good step, besides passing on science as our parents are obliged to pass on the wealth. Bitcoin that we inherit will be different price in the coming year, will be bigger. But bitcoin is different from the bank we know, leaving bitcoin the same as leaving its password, and that no one knows but you. One of them you can introduce the bitcoin and password to people you trust (family).

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bert20
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January 11, 2018, 11:48:54 AM
 #1950

Keeping other physical asset for your children is very easy but storing bitcoin for your children is very risky because the wallet may be hacked before your children grow to maturity so it needs a high level of security consciousness.
Bitcoin saving for children is nice and good. Good saving bitcoin for children because it is for their good future. Also had to teach them how to do it in trade. Good to learn it well someday that continue here in bitcoin. Well provided for the future of our children, so that one day they will not become helpless, and a hard time.
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January 11, 2018, 12:26:17 PM
 #1951

I have devised a way to save bitcoin for my children. I will used my bitcoin to acquire properties for my children that can take care of them anytime any day. I will also make sure my wife is aware of my bitcoin account details so that they will takeover it  if something happen unexpectedly.

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berlunberg
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January 11, 2018, 07:56:26 PM
 #1952

Main thing and issue here is safe storage! You must own your private keys and keep them really safe. Actually this is the biggest problem for long term holders because almost all web-services have some problems with safety.
ModGirl
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January 11, 2018, 08:27:13 PM
 #1953

I think instead of bitcoin if i leave a good business for my children i will feel happy because from that there are many benefits like i will invest my bitcoin and other money and i will start a factory for my self and there will be good opportunities for the needy and poor people will start employment there and from this i will get return and ultimate my children will grow with time and after me they will lead this factory or some other business.
Yeah this decision is good for some one. The price of bitcoin is increasing and increasing. So everyone can take the benefit of this increase price rate of Bitcoin. So you can use bitcoin as asset for your children. The bitcoin proves itself the best asset than any other thing even the price of Bitcoin is increasing more rapidly than gold. Therefore the people are taking interest in investing in Bitcoin rather than gold.
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January 11, 2018, 08:29:34 PM
 #1954

I want to buy my baby his first bitcoin so that he knows how to appreciate money and knew what crypto currency is.
It’s a best idea and I think it can help us as well because japan is going to teach bitcoin in their schools and if they start to know about saving so in future it can help them a lot bitcoin is such a currency which can help you in your present and also it can help you in your future so bitcoin is one of the good currency in market and it want to change the life style of every single person around the world so teaching of bitcoin is good.

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January 11, 2018, 08:30:03 PM
 #1955

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

this is a very good idea. I'll try that, while I'm young. My youth is still a lot and it seems that I am thinking about this for my child. Maybe in the future bitcoin prices will soar.
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January 12, 2018, 05:07:09 AM
 #1956

If I start pouring my savings into bitcoin and leave it there no matter the price goes up or down, then before I'm gone from the world definitely I'll leave my will with the lawyer to pass on the private keys to my kids.  Grin
feelthebern98
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January 12, 2018, 05:10:36 AM
 #1957

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.

Entered the post and saw this, I do exactly the same, hope she will be able to enjoy a decent life if something ever happens to me
akiraminai
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January 12, 2018, 05:18:03 AM
 #1958

It is obvious that your account will be passed down to the ones you trust. But I think children is halfway impossible though, Bitcoin is not stable enough for me to say that " a teenager like who will somehow have children in the future can pass down my bitcoin account" because we don't know if how many years bitcoin will survive. And yes! I am planning on keeping it myself

readygoaw
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January 13, 2018, 03:55:15 PM
 #1959

I have devised a way to save bitcoin for my children. I will used my bitcoin to acquire properties for my children that can take care of them anytime any day. I will also make sure my wife is aware of my bitcoin account details so that they will takeover it  if something happen unexpectedly.

this is really rational way to spend Bitcoin. I am quite confident in Bitcoin but its price can be fluctuated in wide range. So don't be sure that your children will get those sum of money that you expected.
Kanda Yu
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January 13, 2018, 04:03:58 PM
 #1960

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
I think it would really be a nice thing if this matter would be handled by anyone with authority. We are all clueless on when are we gonna die and we don't want our money to go nonsense wherein nobody can use it even our relatives. If ever I would die, I want all my bitcoin to go to my family, I hope some few things would be made up for the convenience of the assurance so that it would go to them if ever.

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