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Author Topic: Saving Bitcoins for your Children.  (Read 23819 times)
worldofcoins
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October 30, 2017, 03:07:49 PM
 #561

Ok I want to mention alot of people in keep talking about bitcoin as an investment is kinda a bit troublesome, we should think of it as an currency.  Currency since you can shop with it now, am right?  Also to get on topic,  Ill save coins for my kids tuition and there education.  I want my kids to be able to provide for themselves.  Child is more stronger this way and once I see him at that level, then Ill throw him some bitcoins here and there.
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Arumi.Bilqis
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October 30, 2017, 03:14:48 PM
 #562

Indeed I have planned it from now because I think the children need the cost of education in the future and as an investment so that my child can live well.
besides that children can have independent business Wink Wink
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October 30, 2017, 03:16:50 PM
 #563

Saving bitcoin for our children and predicting a futurist exponential growth of this currency is a very nice idea to not just invest on the long term for the well being of your children , but also provide them something that will be a very big part of the future , their future !
Helping your kids forward in a future times that will probably be difficult for them seeing that the global crisis has made life much harder for everyone and will probably have worst future consequences .

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October 30, 2017, 05:59:33 PM
 #564

yes we save bitcoin for my children because we know Bitcoin is a best future for my children.

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October 30, 2017, 06:17:15 PM
 #565

Thinking about the future is a great thing, owning a bitcoin today will make you rich someday in the future. Bitcoin is a great investment for the future, and also thinking that someday, my children would also know about bitcoin.

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October 30, 2017, 06:56:12 PM
 #566

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

With the unstoppable progress of the technological world, cases like this would be seen in the near future. Bitcoin is valuable property so it must be protected in the law whenever it would be passed on to your children. Maybe someday, the government will see the potential of bitcoin and adapt it so they can also have laws in which how bitcoin would be conserve to its rightful owners.

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Victorycoin
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October 30, 2017, 07:08:34 PM
Last edit: October 30, 2017, 07:47:09 PM by Victorycoin
 #567

That's good for you and your child, that means you have to teach and introduce bitcoin to your child. But kids usually just want to have fun and a pedestal to learn.
There are so many simple ways to introduce somethings to a child, especially when we add colors and pictures without trying  to push it too far, too soon. Run your illustrations side by side with doing same task with fiat currency and see them pick up nicely overtime.

Quote
If you want to keep bitcoin for your child but they do not want to know, you can entrust the bitcoin you keep to your relatives and give it to him to give it to your son someday.
Don't endanger the lives of your children by exposing them to such apparent danger. Instead dedicate a wallet for each child and create clues on how to access them and eventually mention it in your will. It would help if you often carry them along when funds are been deposited into the wallets and even in ways you earn your coins.

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codem0nkey
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October 30, 2017, 07:12:40 PM
 #568

I have heard of this from quite a few people now, I think this is one of the most amazing practices in the crypto community right now and I have much respect for anyone who does this!
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October 30, 2017, 07:13:09 PM
 #569

My concern it how are we valuating Bitcoins? Will the valuation be based on US dollars just like now? Or will Bitcoins have a value of its own as a cryptocurrency that is decentralized, secure and a fast way of paying for services and goods. My concern is that we are really not trying to get separated from fiat currencies, and transform our world to one that is based on cryptocurrencies. All I see is that people using the idea of cryptocurrencies to accumulate more and more fiat currencies.   Huh

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October 30, 2017, 07:14:18 PM
 #570

You should check out digipulse.io they are offering inheritance service for your crypto. They don't own any of your private keys, they only provide platform with easy to use interface so you can use smart contracts very easy and store there your private keys. They have option that is called "inactivity period" they track your moves via facebook, twitter etc API, when you are not active for like 3 months, they send information to your relatives then you family can decrypt private keys by repying to the questions that only they will know.

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October 30, 2017, 07:20:44 PM
 #571

I've saved a bit of bitcoin that I'm depat for the future, because I'm sure the bitcoin price in the future will be very high, I save bitcoin for my family if I'm married later
codem0nkey
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October 30, 2017, 07:44:27 PM
 #572

My concern it how are we valuating Bitcoins? Will the valuation be based on US dollars just like now? Or will Bitcoins have a value of its own as a cryptocurrency that is decentralized, secure and a fast way of paying for services and goods. My concern is that we are really not trying to get separated from fiat currencies, and transform our world to one that is based on cryptocurrencies. All I see is that people using the idea of cryptocurrencies to accumulate more and more fiat currencies.   Huh

Wouldn't it benefit the children either way?
Victorycoin
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October 30, 2017, 08:43:43 PM
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You should check out digipulse.io they are offering inheritance service for your crypto. They don't own any of your private keys, they only provide platform with easy to use interface so you can use smart contracts very easy and store there your private keys. They have option that is called "inactivity period" they track your moves via facebook, twitter etc API, when you are not active for like 3 months, they send information to your relatives then you family can decrypt private keys by repying to the questions that only they will know.
Nice concept in principle but yet to be tried and tested in real life. Hope it can be tested by making oneself the inheritor and using a short inactivity date. A question that comes to mind though and as far as online business is concerned, is how to ensue any digital asset attached here is safe and what guarantees that this company won't play out the Mt. Gox theory?

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sourjain
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October 30, 2017, 08:58:23 PM
 #574

with government regulations coming should not we hold for major correction in Bitcoin? That way our children will get most out of our savings.

Sourabh Jain
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October 31, 2017, 12:58:27 AM
 #575

I think that this is the best thing to do if you have a family and you want to secure your family. If you want to have a great future then you should save bitcoin for your children and you should do a lot of work before you reach to the point that you can relax and feel safe with your savings because if you will become greedy in spending money from bitcoin then the savings will not happen because the problem is from you.
I agree, because savings bitcoin for the future is the best things to do, so that in the future we already savings and secure the future of our family. We don't need to worry anymore. So be wise were to spend money, savings is much better to spending money. Or maybe it should spend only in case of the emergency purposes or in the important things. That's is true the problem is you.

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October 31, 2017, 01:14:32 AM
 #576

I save Bitcoin for my family for my children's college tuition at a renowned university.

Because I believe the price of Bitcoin in the future will be very high in value.
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October 31, 2017, 06:36:09 AM
 #577

yes we save bitcoin for my children because we know Bitcoin is a best future for my children.
Mostly many of the peoples here save bitcoins for their future and are really eager to wait for their bright future including me. Also I am expecting a lot from bitcoins and also I am working hard to own some coins for my future.

Bitcoins can truly make our future stable and we can depend on them as previously we saw a good example about this when the peoples who bought their bitcoins in 2009 and sold them in the year 2016-2017 with a huge profit making their life stable without any financial obstacle. The same is now expected by many of us and that will surely be worth it in the future.
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October 31, 2017, 06:43:06 AM
 #578

I don't really have a family of my own yet but I think bitcoin will be an easy way to send money for your children. As long as they have they're own paper wallet, android phone, or access to internet whete they keep their bitcoin. It will be an easy way for them to get money from you. It's like credit card, but you can control how much they spend. 

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October 31, 2017, 06:49:30 AM
 #579

I'm at my 20's and right now I'm saving some for myself, but I'm pretty sure that if it keeps going this way I won't need to save any for my (future) children hopefully. But I like the idea of saving bitcoin for next generation (I wish someone saved some for me).
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October 31, 2017, 06:57:49 AM
 #580

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.
Yes you have a point, even on the Internet there are thief (Hackers). I think We need to find some option that are more Secure and Safe for the future of our childrens :-D

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