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Author Topic: I'm just thinking about to give away to my 4-year-old nephew a 0.01 BTC  (Read 216 times)
jossiel
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July 12, 2018, 11:13:17 PM
 #21

Nice and what a very generous uncle you are. He may not be aware of what bitcoin is today but after the right time, he'll value it more than what he has soon.

P.S. To avoid losing this btc, you should create kinda back-up procedure.
Yes, although you have given it to your nephew still create a back up for yourself so if ever it was accidentally lost you can recover it easily with your back up.

Execute what you are thinking, everyone's agreeing with you.

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July 12, 2018, 11:18:15 PM
 #22

0.01 bitcoin is not good amount I think because even the price of the bitcoin increase very high he can get only some profit. And possible to bitcoin after few years become very low the price of the bitcoin or become die.

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July 13, 2018, 02:30:48 AM
 #23

I've read a lot of posts like this about people doing similar things in the past. It's definitely a thoughtful gift for your young nephew, especially if he gets fond of blockchain or technology in general  in the future. Go for it! Just remember to have protection for the paper. Probably laminating it yourself would be good enough for a little bit of water-proofness.

And also, make sure you know how to make a paper wallet securely. You definitely wouldn't want your 18 year old nephew in the future scanning the QR Code and realizing that the BTC was moved out a decade ago, by someone that's not you.

You have a good vision with your nephew because you are thinking of her future. Now you just have to be complacent because if you give it that's really not going to be lost and it's okay. It's been a long time since it was once used to discover that bitcoin would be fun. But it would be nice if you just have a copy just incase to lose it and make sure you do not use it at the time of your squeeze because you've shared it with your nephew.

Thanks for your advices, I really want to do it thinking on how happy I wolud be if somebody have done something similar for me 6-7 years ago o.o
Do you think 0.01 BTC it's enough? I really can't imagine how much could it value from 15 years to now

Hey. You're only 22. and you just said that 0.01BTC is the best you could give right now, so there's definitely nothing wrong with it. That's still a decent amount right now that could be significantly more expensive in the future, since that 0.01BTC is going to sit for more or less 14 years. That's a pretty long time. That 0.01BTC could be worth multiple digits in the future(or worth almost nothing, depending on how BTC goes).

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July 13, 2018, 05:28:02 AM
 #24

Well it's a good idea.
But make sure that even if you're saving it on a paper wallet, let it be secure from any theft or any well internet user who might scale away with the paper.

Moreso, who knows the 0.01btc that you're offering your nephew today might worth 2btc whenever you get to it back sooner or later. That might really be a good investment

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July 13, 2018, 11:13:52 AM
 #25

Thank you, with wich site do you advice me to create the wallet? (Up to now i have always worked with exchange)
The only important thing is that it's safe and that it let me to print a paper version of it
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July 13, 2018, 11:28:53 AM
 #26

Why not give to your nephew real money, but its a good value that you give anyway.
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July 13, 2018, 11:36:06 AM
 #27

Why not give to your nephew real money, but its a good value that you give anyway.

Because if I gave him 60 dollars now (0.01 BTC) from 10 years I think there will not be be trace of  them, even if I bought really something special
But those simple 60 dollars at the moment when he'll be 18 years old could be something really really interesting Wink he can't understand now but it's very smart and like technology I'm pretty confident that one day he will thank me Cheesy
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July 13, 2018, 11:39:40 AM
 #28

0.01 is bigger in the future, you have a good idea, but if you think of giving the private key in the paper only the wrong thing . In 4 years old children they are still nasty and curious. they might just be able to play the private key.
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July 13, 2018, 11:43:31 AM
 #29

It's a great idea for you to be very loving to your children. It's not a lot of money, but it can cultivate the children's awareness of the world, and help them to know the world.
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July 13, 2018, 11:52:43 AM
 #30

it may be too early to give BTC to your nephew, waiting until the age of your niece is 18 years old.
I guess that's a very long time, for 18 years are you sure if bitcoin will still exist?
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July 13, 2018, 11:53:07 AM
 #31

That's a very good idea, do it now. I support you, we do not know 14 more years what will happen to bitcoin, if bitcoin price high your sibling surely must be happy Smiley
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July 13, 2018, 12:24:35 PM
 #32

It`s definetely good idea. Your nephew is to win a small but good chance
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July 13, 2018, 12:29:43 PM
 #33

Not a bad idea, but maybe you could save the address of that wallet so you could add a bit more to it in the future.
Would be great if you add some more on special occasions, you might not have too much disposable income at the moment, but that should change.


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July 13, 2018, 01:13:58 PM
 #34

Not a bad idea, but maybe you could save the address of that wallet so you could add a bit more to it in the future.
Would be great if you add some more on special occasions, you might not have too much disposable income at the moment, but that should change.

I hope it Cheesy now I have only to create the wallet and putting them the 0.01 BTc, where do I have to create it? I would like to have a 12-words-key password if it's possible so thus I can decide the words that are related to my family and one day I will give him the password Wink
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July 13, 2018, 02:03:52 PM
 #35

Not a bad idea, but maybe you could save the address of that wallet so you could add a bit more to it in the future.
Would be great if you add some more on special occasions, you might not have too much disposable income at the moment, but that should change.
- I feel the opposite of you, it's not an interesting idea, his nephew will not be able to understand bitcoin and can not use that 0.01btc in a useful and perfect way, he can give his nephew more interesting toys, instead of bitcoin. You should not rush to deny my opinion, in the future is something that we can not predict, bitcoin has continued to grow or collapse is a difficult thing to say, many people have had similar thoughts to you and I can clearly see the fear, even their shock when they look at the price of bitcoin right now, there is no evidence that bitcoin is forever or future

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July 13, 2018, 02:06:17 PM
 #36

Nice and what a very generous uncle you are. He may not be aware of what bitcoin is today but after the right time, he'll value it more than what he has soon.

P.S. To avoid losing this btc, you should create kinda back-up procedure.
Yes, although you have given it to your nephew still create a back up for yourself so if ever it was accidentally lost you can recover it easily with your back up.

Execute what you are thinking, everyone's agreeing with you.
That's nice of you being an uncle but I don't think if that would be a great idea since you have mentioned that your nephew is just 4 yrs old. Well giving it to him is a good thing but how can he evenre make it grow? You have a great idea but it's complicated it your case especially your nephew is not yet aware of the systemtime. My advice for you is to make it grow first then give him some soon.

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AliMan
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July 13, 2018, 02:09:23 PM
 #37

Nice and what a very generous uncle you are. He may not be aware of what bitcoin is today but after the right time, he'll value it more than what he has soon.

P.S. To avoid losing this btc, you should create kinda back-up procedure.
Yes, although you have given it to your nephew still create a back up for yourself so if ever it was accidentally lost you can recover it easily with your back up.

Execute what you are thinking, everyone's agreeing with you.
This idea is so great and just shows how loving and generous you are to your nephew. But looking at the big picture I don't think that it will be possible now because you just said that your nephew is just 4 yrs old. Maybe the better thing that you can do is to make that amount grow and when times comes that your nephew is old enough then you can already give it to him.

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July 13, 2018, 02:15:16 PM
 #38

That's the max that I can afford at the moment (I'm 22) but I want to save it on a wllet of paper and give it to my sister telling her to keep it safe and that we will give it to him when he is 18 years old. Do you think is a nice idea? Cheesy


whatever you want.
I think you can give him what he needs for now.
and it would be nice if this discussion is more on productive things that build or share knowledge.

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July 13, 2018, 02:39:53 PM
 #39

That's the max that I can afford at the moment (I'm 22) but I want to save it on a wllet of paper and give it to my sister telling her to keep it safe and that we will give it to him when he is 18 years old. Do you think is a nice idea? Cheesy
Probably that was a good idea and I do salute you for that. Thinking that in your younger age you've already think what will be the best thing to give to your sister and it can she possible using it in the near future yo have her a better life. That is really a good decisions and hopefully you will succeed to your plan. Just be careful and be much smarter yo put that in the proper and safest place so your effort won't be wasted.

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July 13, 2018, 02:46:06 PM
 #40

That's the max that I can afford at the moment (I'm 22) but I want to save it on a wllet of paper and give it to my sister telling her to keep it safe and that we will give it to him when he is 18 years old. Do you think is a nice idea? Cheesy
If I were you, I would not be in a hurry, but would collect a little more, at least 1 BTC. After all, there is no urgency to make a gift right now, so the more you give, the more pleasant your nephew will be. I consider you a very reasonable and generous person.

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