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Author Topic: Saving Bitcoins for your Children.  (Read 23794 times)
allohha
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October 17, 2017, 07:55:26 PM
 #61

Its not bad if you want to put some investment in bitcoin for your children but I would suggest not to put everything on it though the value of bitcoin really rising so fast still we are not sure of its value in the future what you can do is make some sort of test in the market you can buy some and hold for  while then sell them with a good mark up when value appreciate then invest again, don't hold for too long


This is not a bad idea. I thought about it, but it is quite risky. We can not predict what will be in a few years. The bitcoins will survive, but if your plan succeeds, your children will have a lot of good.

Yes, crypto currency is always a risk. But we are always watching. We can leave a few coins for the future, but if the price goes down sharply, you can sell your coins.
Generally I think that at least somewhere around 10 or 15 bitcoins will stay afloat and that's why we will be able to earn very well on this. It will still go up, but during this period you must protect yourself from losses and that it was not only for your children but for yourself. It seems to me that it is the best investment in a real business that is the best way out for a start.

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October 17, 2017, 08:11:43 PM
 #62

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

You can make a video instruction on what to do in case you die. Just like a last will testament. If you do that then your children's future would be fine.

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October 17, 2017, 08:15:05 PM
 #63

I think save Bitcoin for the next generation is a good idea Smiley)) Maybe at that time Bitcoin price will be 50k$ or 100k$ so the amount of Bitcoin we spend for our children will become very huge Smiley) Maybe at that time Bitcoin will be legalized all around the world and Bitcoin is accepted as payment in school and everything else. I'll try to do this Smiley)
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October 17, 2017, 08:20:55 PM
 #64

Paper wallet is the best choice
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October 17, 2017, 08:22:31 PM
 #65

Yes i agree with you and i am sure to save bitcoins for my kids for their future purposes. Consider bitcoin similarly as your gold or any other asset because they are right now the best investment area for you and try to save at least few bitcoins every quarter for them. Well to be honest, i was little bit afraid about the privacy before but i will go with hardware wallet which will decrease my tension a little bit. The best option will be save the password, keys and the hardware wallet in your bank locker and give it to your children when they are able enough to handle by themselves.

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October 17, 2017, 08:27:44 PM
 #66

I think this is an interesting option. and I am very interested in that. but what is not too quick to invest bitcoin for our children in the future. certainly should be in barengi with knowledge about bitcoin world.

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October 17, 2017, 08:32:18 PM
 #67

Yes you are right my friend, saving bitcoins for your children is a good idea. Previously people use to save gold, land and cash for their children, but for now bitcoin is the best option for your child savings. There are several options to save bitcoins and bitcoins passwords for your children. I agree with the few answers listed above which says about saving into the bank Lockers. Even i am planning to go with this method. Other than this you can Use backup option where you backup all the details about your bitcoin investment along with their passwords inside a external drive and then give it to your children when they grew up, as bitcoin is a digital currency so it wont be any issue in creating a backup of your bitcoin investment along with the wallet or exchange details.

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October 17, 2017, 08:38:19 PM
 #68

I think this is an interesting option. and I am very interested in that. but what is not too quick to invest bitcoin for our children in the future. certainly should be in barengi with knowledge about bitcoin world.
definitely need to act in the direction to teach your child at least the first basics of crypto currency. Not in the fact that after having certain information, children can work with the crypto currency themselves. It would be nice to still in elementary school taught and taught children in this direction.

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October 17, 2017, 08:47:54 PM
 #69

What will you do if bitcoin becomes cheaper. Is not it risky?
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October 17, 2017, 10:03:57 PM
 #70

I would make paper BTC wallets and keep in bank safe. Of course I will indicate all at the will.
Well, this is a good idea saving bitcoin for your children. Placing a paper wallet and input all your private keys and other person knows your account. Before savings bitcoin for your child there are things needed to be consider, think twice or more because we all know bitcoin is volatile and value fluctuate daily. And it should be taking risks in doing so, but somehow it is a good idead for the future of your children.

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October 17, 2017, 10:07:05 PM
 #71

Saving Bitcoin is a great idea not only for our children, but also for ourselves, our families in general. The price after some years will become a lot higher than the actual price, most likely. So the holders will earn really big profit.

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October 17, 2017, 10:11:33 PM
 #72

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 you are good thinking for the future and invest at early time but I think using bitcoins to secure your child or children a future may have a problem when the time comes.  The issue I think is that you can't tell if the price of bitcoins on that time is still the same or higher than today ir worst it may go down its price because no one knows what will happen. This made bitcoins not secure for the future like life plans.

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October 17, 2017, 10:28:20 PM
 #73

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 good idea that we save a bitcoin for our children so they have money that they start with. For me I put a coins in the offline wallet and save private key and give it to the person j trust.

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October 17, 2017, 10:31:06 PM
 #74

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.
Man, I wish my dad was like you. He is not sending me money. He does not even recognize me. It is fine by me. I still have a mother and a step father. But I swear I am going to be a good father someday. It is just a matter of time until I grow up and make much more money. My hope for now is bitcoin because it has done many things for me and as long as it does exist, I will always get benefits from it. Anyways, I hope your son chooses the right way and I hope he takes care of you when you get older.

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October 17, 2017, 10:34:40 PM
 #75

His Alma Mater thank

[1] Alma mater (Latin: alma "nourishing/kind", mater "mother"; pl. [rarely used] almae matres) is an allegorical Latin phrase for a university or college

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October 17, 2017, 10:45:00 PM
 #76

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 you are good thinking for the future and invest at early time but I think using bitcoins to secure your child or children a future may have a problem when the time comes.  The issue I think is that you can't tell if the price of bitcoins on that time is still the same or higher than today ir worst it may go down its price because no one knows what will happen. This made bitcoins not secure for the future like life plans.
Maybe we can save bitcoins for now and after few years,we can cash them out in exchange of our own currency,and then save them for our children's future.I think saving bitcoin is the best way to ensure proper education and good way of living for our children in the future.


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October 17, 2017, 10:45:43 PM
 #77

Paper wallet is the best choice

lp0 on fire (also known as Printer on Fire) is a semi-obsolete error message generated on some Unix and Unix-like computer operating systems in response to certain types of printer errors. lp0 is the Unix device handle for the first line printer, but the error can be displayed for any printer attached to a Unix/Linux system. The message does not reliably indicate whether the printer in question is actually aflame.

source: https://en.wikipedia.org/wiki/Lp0_on_fire

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October 17, 2017, 10:47:00 PM
 #78

Its not bad if you want to put some investment in bitcoin for your children but I would suggest not to put everything on it though the value of bitcoin really rising so fast still we are not sure of its value in the future what you can do is make some sort of test in the market you can buy some and hold for  while then sell them with a good mark up when value appreciate then invest again, don't hold for too long


This is not a bad idea. I thought about it, but it is quite risky. We can not predict what will be in a few years. The bitcoins will survive, but if your plan succeeds, your children will have a lot of good.

Yes, crypto currency is always a risk. But we are always watching. We can leave a few coins for the future, but if the price goes down sharply, you can sell your coins.
Generally I think that at least somewhere around 10 or 15 bitcoins will stay afloat and that's why we will be able to earn very well on this. It will still go up, but during this period you must protect yourself from losses and that it was not only for your children but for yourself. It seems to me that it is the best investment in a real business that is the best way out for a start.
It's true I am saving bitcoin for my future children. I don't mind if there is risk in bitcoin for as long as I secure the future of my children soon. I need to save money because I like saving because I can't predict what would future bring. In order for me to feel better saving is the best way to complete the sense of satisfaction in life. My future children are important for me because they are my treasure same goes with bitcoin. As much as possible,I save bitcoin while opportunity is present and to use it for my future children.


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October 17, 2017, 10:50:49 PM
 #79

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, it could be risky but we also need to do that for their future. All we can do to protect the account not to be hacked is that, save it to the private accounts that your children can open it when they grow up. But you will only tell them if they already reached the maturity age because if you inform them while they are still very young, they might shared the information to their friends.


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October 17, 2017, 10:53:03 PM
 #80

Paper wallet is the best choice

lp0 on fire (also known as Printer on Fire) is a semi-obsolete error message generated on some Unix and Unix-like computer operating systems in response to certain types of printer errors. lp0 is the Unix device handle for the first line printer, but the error can be displayed for any printer attached to a Unix/Linux system. The message does not reliably indicate whether the printer in question is actually aflame.

source: https://en.wikipedia.org/wiki/Lp0_on_fire


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