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Author Topic: Saving Bitcoins for your Children.  (Read 23819 times)
rpg
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November 16, 2017, 07:32:03 PM
 #901

Every person here save money or bitcoin for future or children. I will try to save more in BTS. IMHO this is a future. USD can die if china send back to USA all dollars they have. My choice is gold and BTC
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November 16, 2017, 08:40:28 PM
 #902

in order to better our children life when they grow up, we have our duty to earn and save our money for our child, so investing in bitcoin as a second income is a great idea, may be we dont have to save too much bitcoin, but just little and keep it safe in our wallets and wait until the day bitcoin price get high enough, bitcoin profit may very big.
Agreed! The way bitcoin market’s price is increasing with each passing day, there is hardly any reason to deny this fact that if you are going to have bitcoins in your wallets in order to have better future for your children, then you are actually on the right track. Bitcoin is very much capable of meeting all your needs may it be anything. It will help you in much better way as you are expecting out of it.

True, If you do this the price of bitcoin will surely increase in the future so your children will have a way better life than yours. Working now 24/7 and pay taxes so instead they can live their lives.

I will do this like this because i know that life can be hard so I try to save up my coins.
Important, the price of Bitcoin will be high in future or just keep at low price after this year. You don't know the future, so, saving a currency can't guarantee its future will be good or bad is risky and worse than FIAT, Gold or Real Estate ...
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November 16, 2017, 08:52:20 PM
 #903

in order to better our children life when they grow up, we have our duty to earn and save our money for our child, so investing in bitcoin as a second income is a great idea, may be we dont have to save too much bitcoin, but just little and keep it safe in our wallets and wait until the day bitcoin price get high enough, bitcoin profit may very big.
Agreed! The way bitcoin market’s price is increasing with each passing day, there is hardly any reason to deny this fact that if you are going to have bitcoins in your wallets in order to have better future for your children, then you are actually on the right track. Bitcoin is very much capable of meeting all your needs may it be anything. It will help you in much better way as you are expecting out of it.

True, If you do this the price of bitcoin will surely increase in the future so your children will have a way better life than yours. Working now 24/7 and pay taxes so instead they can live their lives.

I will do this like this because i know that life can be hard so I try to save up my coins.
Important, the price of Bitcoin will be high in future or just keep at low price after this year. You don't know the future, so, saving a currency can't guarantee its future will be good or bad is risky and worse than FIAT, Gold or Real Estate ...
I agree with you saving indeed does not mean that bitcoin will go high but we all know that bitcoin will rise and the people who have saved for a long time have had a very good profit from it including me.
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November 16, 2017, 08:54:54 PM
 #904

I would personally like to see a service that could ask you if you're still alive ~once a month.  If you confirm this before the next month, nothing will happen.  If you don't,  then your wallet keys and instructions to claim your bitcoins would be sent out to your family and children so that they would be able to have them passed down to them.

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November 16, 2017, 08:58:28 PM
 #905

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

Paper wallets is surely a good option. You can stash it in your secret storage and only let the members of your family know about it. Make a letter on how to use it and keep it there for a long time. I tried it once and until now, I keep stashing small fractions of bitcoin on it. Hoping that it will make my children in the future happy. I really don't know if bitcoin will continue to rise and reach new heights but I am sure that making something like that is a good idea for both of our future and our families.

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November 16, 2017, 09:07:11 PM
 #906

I would personally like to see a service that could ask you if you're still alive ~once a month.  If you confirm this before the next month, nothing will happen.  If you don't,  then your wallet keys and instructions to claim your bitcoins would be sent out to your family and children so that they would be able to have them passed down to them.

There are online services that will do this via email - the danger of course being that you will be entering instructions on how to access your bitcoins to a unknown entity online. Ways round this would be to write directions to a physical document hidden somewhere in your house, or, much more securely, leaving instructions with a lawyer/solicitor to hand to your family after death.

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November 16, 2017, 09:08:56 PM
 #907

i do not think btc will last long so it is not good idea to save it for children
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November 16, 2017, 09:21:49 PM
 #908

I've decided to give my grandchildren some wonderful SIGT coins, but I'm afraid they will be very much upset by such an inheritance ...
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November 16, 2017, 09:30:38 PM
 #909

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.
Thats a good idea. Thanks for sharing this. I think bitcoin can be passed indeed to our childrens as inheritance why not. Better that money saved in the bank wherein banks will just benefit from your money and will net really bring good return later.

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November 16, 2017, 09:41:59 PM
 #910

A very interesting subject. But I'm single, and maybe the bitcoin I have will be enjoyed by myself. I do not know if later I have a wife and child, maybe bitcoin that I have will be enjoyed also by them because although now I collect bitcoin solely for the future and obviously I will take advantage of bitcoin to prepare if I later will be married because it is very important for me to start a real business as a livelihood to support my family later.



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November 16, 2017, 09:42:43 PM
 #911

It's not a good idea in my country, parents often save gold or cash for their children only. With people living in my country, Bitcoin is something very strange and they don't really know what it is so I think they'll not spend money to invest in Bitcoin then save it for their childrens. Beside Bitcoin is going to be banned in my country so maybe in the future it'll be illegal if they give their children Bitcoin instead of gold or cash.

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November 16, 2017, 09:44:29 PM
 #912

I was thinking about savings bitcoin for my future children but seems it will took 5 years before i have a children i want to enjoy my life and i want to use that in the future if im having a baby with my future wife. Of course i can use that money in the future but if im going to hold that for that long and have a doubt of bitcoin dying then i have a choice to use it while im waiting for my kid to have a full process of his brain before im going to teach him about bitcoin.
Goodluck buddy on finding your future wife so that you can able to make your own baby. Saving up bitcoin would really have somehow advantage because of its increasing prices.We cant be sure if it would still rise up on those future years but somehow a good idea to accumulate some of it intended for future purposes. We do really like to ensure the future of our upcoming siblings.
Hahaha while im looking for im still homding some bitcoin isn't that good because once you find your true love the bitcoin price iincreaae that much so theres posibilities that bitcoin price will get too expensive , it still going to rise not sll bitcoin is akready mined because once we are in near point of getting that bitcoin is limited so the price will come up again and again .

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November 16, 2017, 09:46:33 PM
 #913

That's very nice of you, and it's a very great idea. I'm sure our children will benefit from our investment in the future. I'm just worried at the fact that bitcoins are volatile, so there is a risk in the long run.

As for safekeeping the information to pass it on to your children, maybe in your last will, perhaps? As long as it's extremely secured, and have someone you can really trust to keep it for you so they can give it to your children when they get older.

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November 16, 2017, 09:53:21 PM
 #914

This is actually really interesting and I never thought of it.

For me, of course I would love to save bitcoins for my kids, but not as a super long term future investment.
Unfortunately, I don't think bitcoin will be around that long.
Now, don't get me wrong, I believe that blockchain technology is revolutionary and is here to stay, but BTC how it is now is just flat out unsustainable.
It is already suffering major scaling issues and isn't even mainstream yet.
In fact, btc going mainstream is going to be its demise.  As more adopt it, the more it will become evident that high fees and long transaction times are a major problem.
Then, along will come a better coin that will replace it because btc has already paved the way.

Of course, btc coins and blockchain will never technically disapear so it would be really interesting if 20 years from now my kids can access that btc as a "novelty"item.

Or even 50 to 75 years in the future it is a collectors item and will appreciate in value because of its rarity.

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November 16, 2017, 10:01:09 PM
 #915

You can write down the seed words to the wallet that holds the coins and send them to separate lawyers/deposit boxes or to some other supports you think are suitable.
that would make your wallet and savings legal,sending it to the lawyer for future purpose.such a great idea mate not just the OP instead me taht you have given future plans how to save our fiat/btc for our children,thank you for that mate.

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November 16, 2017, 10:16:43 PM
 #916

Actually I don't want my kids to receive money for nothing, especially not larger amounts.  I raise them in a way that teaches them to work well and smart.  Therefore I am not saving BTC for my children.  They get a bit pocket money every month which they can safe on their own, I am looking forward to changing this to pocket BTC as soon as they're old enough.
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November 16, 2017, 10:18:46 PM
 #917

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.
good idea, I also use this idea for my children and I hope
it's better then bank balance.
thanks
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November 16, 2017, 10:21:48 PM
 #918

I love this idea, this is also my plan even I still studying now. I'm saving not only bitcoin but other crypto currency that has potential to boom in the future. Thanks for sharing this idea. Much appreciated.

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November 16, 2017, 10:30:30 PM
 #919

It's a good idea to save some bitcoins for the far future. Try also to learn to them how to earn so they can contribute in saving early.

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November 16, 2017, 11:05:43 PM
 #920

This is really a good idea for all of us here in this community. We all know that bitcoin will boom in the nearest future we will take. So the thing we should do now is to save money for the next generations. And by the year it will boom, they will have many money.
Are you sure sir?? are you not afraid your assets are lost ?? are you not afraid when your assets are used for crime ??
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