Bitcoin as a Replacement for a College Savings Plan

[Ultegra134]

I can't agree with you here bud.  I first off don't think that college educations are becoming way less important.  At least in my line of work (finance) there is still a college degree requirement.  This goes for a lot of my friends in their random places of work.  A 529 plan has it's restrictions, or downfalls, but it's a lot less volatile (typically) than bitcoin is, so as an advisor I could not recommend someone replacing their 529 with a bitcoin investment.  Too risky.

I agree that college degrees are still important and will always be. Yes, with the advance of the internet, it may be easier for some to advance themselves without going to college, but it cannot be applied in all sectors. You can learn programming yourself and have a portfolio to prove it, but with finances or social occupations, it's a whole different story that cannot easily be proved with previous work. Not that a college degree necessarily shows your knowledge, but it shows that you've managed to obtain the degree.

Would I use Bitcoin to create a college fund? Not sure; its volatility isn't something that provides security in the event of such a serious matter as attending college. Although it may have a positive effect on price, it can also go wrong, and the moment you need the money, you may not have it, or its value might have suffered a lot and would be a loss to exchange at that point.

Maybe you can combine both by DCAing with smaller amounts of money on Bitcoin.

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[bluebit25]

I've also had thoughts about whether going to college is really useful for me personally, and I have to be honest it's worth it for the things I get to experience, for my generation, to have a real degree. It makes a lot of sense to apply for a job, but I also realize that in recent years the training system has really had problems when the quality of expertise in all fields almost requires training from the beginning. The irony is that some parents still use old thinking about work to impose on their children. It's really a matter of future orientation, not against everyone, but I used to thinking of studying for a doctorate in law just to use as a mousepad. Yes, people can see that as a goal but the way I answer is that going to school is not about those tangible results, it's about applicability to life.

I also very much support the application of blockchain technology in life, but in fact it still needs a professional training place rather than self-research, maybe developing information technology skills, or other fields in the financial and economic sector... perhaps the fact that we already knew about it before will give us a more positive view. Even now I can't talk much about bitcoin with my relatives, sometimes just a few stories about children's curiosity, but most people are still quite vague about bitcoin, so I understand that this field has many changes but it is still very new and full of potential.

[Viscore]

The risk is always there when you are thinking saving on bitcoin and suddenly, bitcoin price drops heavily that you won't think it will recover anymore. In order to lessen the risk, I suggest you go on saving both in bitcoin and in traditional mutual fund, that way is safer than go all in with bitcoin. But I certainly agree that in the next possible years, college degree might not be a major requirement anymore since everyone can be the best asset in a company most especially if he has the knowledge and skills that the company is looking for.

You can still go and finish your college degree but that's only an individual's choice already, not actually a requirement to successfully land a good and stable job.

[red4slash]

The problem now is that this may not be possible in my country because no matter what kind of job is offered, an academic degree is still one of the mandatory requirements for competence regardless of whether it is needed or not, but in the end, experience will lose out to the academic standardisation that has been determined until now.

Providing a reference to try to do DCA gradually and provide understanding for those who are still in the age of education about bitcoin is actually still very good, it's just that it also needs to be seen from the country or region that is occupied because in the end this is also important actually considering that in some areas bitcoin is still a taboo thing and even seems prohibited from being talked about explicitly.

[The Cryptovator]

Where have you found companies that haven't asked for college degrees? I just heard it the first time. They must ask for an educational certificate based on your job position. I don't believe that without an educational degree, you can get a job. Thanks to God, I am doing freelancing where I don't need any educational certificates. However, Bitcoin savings are always good if you can afford them. It must be for a long time if you like the DCA strategy or like traditional weekly or monthly investments from your savings. At the end of your life, when you retire, your Bitcoin savings will be substantial.

[stomachgrowls]

At this rate, I am seeing that now most corporate companies plan to remove the college degree requirement for jobs, which will transform the college education long term, and its looking like it won't even be needed unless you're going to be a PhD or a Lawyer etc etc.

The traditional mutual fund / 529 plan isn't really needed anymore if college isn't going to be a requirement, but now I am more so just thinking of a life savings plan is a much better and more flexible option. Maybe just set them each up a wallet and load x amount each making quarterly contributions. By the time they are old enough surely they would have more money in that account anyways compared to the mutual fund, right?

In my country a bachelor's degree is still very much needed to apply for jobs, and it looks like this will still be the case in the next few years so preparing funds for education is very important. Especially considering that the cost of education is increasingly expensive compared to previous years. It might be nice that in your country there are plans to remove the requirement for a bachelor's degree to apply for jobs, unfortunately that hasn't happened in my country.

Preparing education funds by saving bitcoin might be a good solution, especially since my child is still small so it will take a long time before he can go to college. If I start saving bitcoins, maybe the price of bitcoins will be very expensive at that time, and saving bitcoins is the right choice. I like your idea, and in the long time I think saving bitcoin is more profitable than in mutual funds

This is why i dont really believe much if ever this one would really be removed in terms about job qualifications on which if college degree holder wont really be that necessary then job requirements wont really be that hard
as people would really be able to have the chance on applying for a job which it doesnt really need up that requirement. It does have its pro's but usually it would really be having that kind of negative thing. Why?
It would really be something that making people getting hired without much intellect or knowledge on which we know that it might be not a solid indication or requirement but we could really be able to tell
the difference when it comes to this. We do know that hiring that having those educational background is much more better rather to those who dont have.

Im not discriminating to those who hadnt been able to finish their college but there would really be that a significant difference in between. Speaking about College savings plan then i could say that its considerable
but its not something that you could really be having that an assurance comparing into those traditional ways of saving funds. It do falls down on someones choice and preference
in the end of the day on which they do seem that they could be able to fit out.

[angrybirdy]

At this rate, I am seeing that now most corporate companies plan to remove the college degree requirement for jobs, which will transform the college education long term, and its looking like it won't even be needed unless you're going to be a PhD or a Lawyer etc etc.

The traditional mutual fund / 529 plan isn't really needed anymore if college isn't going to be a requirement, but now I am more so just thinking of a life savings plan is a much better and more flexible option. Maybe just set them each up a wallet and load x amount each making quarterly contributions. By the time they are old enough surely they would have more money in that account anyways compared to the mutual fund, right?

This sounds good, Apparently I also noticed that there are some corporate companies abroad that doesn't mind whether you have a bachelors degree or none, They only look about your experiences and skills. However, here in our country, they are strict when it comes to job description and requirements, Even those small time job like convenience store cashier needs a college degree diploma, funny right? That's why many people here wants to work outside this country because of poor job system. But for me, Having a degree is one if the most important thing to me and to my parents. We can cut those traditional mutual funds because you can save up for that, and you can earn when you invest some of your money in bitcoin because definitely by that time, the value of your investment will surely increase but that's a risky act, because we have no guarantee what will gonna happen in bitcoin by that time, So I think it's better for now to at least divide it in mutual funds and crypto investment, what do you think?

[Renampun]

At this rate, I am seeing that now most corporate companies plan to remove the college degree requirement for jobs, which will transform the college education long term, and its looking like it won't even be needed unless you're going to be a PhD or a Lawyer etc etc.

The traditional mutual fund / 529 plan isn't really needed anymore if college isn't going to be a requirement, but now I am more so just thinking of a life savings plan is a much better and more flexible option. Maybe just set them each up a wallet and load x amount each making quarterly contributions. By the time they are old enough surely they would have more money in that account anyways compared to the mutual fund, right?

I also think so, even in my own country, quite a lot of companies are no longer setting a bachelor's degree as a condition for entering their company, they prioritize experience and even relationships, now for young people, I hope not to be wasteful in living their lives, there are many temptations out there, such as buying luxury vehicles - expensive smartphones - expensive snacks, try investing in important assets such as cryptocurrencies, especially bitcoin.
Currently the competition is getting tighter, no one will wait for you and no one will care deeply about you when you are in trouble, so always plan your life in long term terms, don't let you as a fresh graduate not be able to find a way. to make money and also save for the future. Bitcoin is the best investment right now, even with capital of $ 10, buy slowly with the DCA method (highly recommended)

[BlackHatCoiner]

Depending on where you live, you might as well want to check what happens with taxation and bitcoin. Judging by the aforementioned 529 plan, you live in the US. I think selling bitcoin with a profit comes expensive there, and even more so if you have a bitcoin income.

That being said, I'm all in to treating bitcoin as a savings plan. There's a risk, of course. "Fortune sides with him who dares".

[hatshepsut93]

Bitcoin is not a replacement for anything because it's its own asset class. It has different fundamentals that are unique and are not like any other asset, so it makes no sense to talk about Bitcoin investment instead of other type of investment. People with sufficient wealth should strive to obtain a diversified portfolio and the proportion of Bitcoin in this portfolio depends on risk tolerance.

[Smartvirus]

The risk is always there when you are thinking saving on bitcoin and suddenly, bitcoin price drops heavily that you won't think it will recover anymore. In order to lessen the risk, I suggest you go on saving both in bitcoin and in traditional mutual fund, that way is safer than go all in with bitcoin.

It’s a lifetime sayings right? Or should I say, a futuristic sort of savings as you’ve got to withdraw and enjoy your accumulations at some point in your life and so yeah. If that be the case, you could always down play the falls in the Bitcoin market because, it’s sure to rise as at when the time is due.

Where it poses a bit challenge is, when the coin is down and you have a red to make some withdrawal for a project, it usually comes with a lot of discomfort to activate any plan at such point. Having the literal understanding that your selling at a lose, that could be depressing but, it doesn’t mean you might not be in profit if your coin have survived some bullish runs.

Still, it’s better you understand what is at stake before you make a decision on what’s the best way to have your life savings.

[CryptopreneurBrainboss]

The traditional mutual fund / 529 plan isn't really needed anymore if college isn't going to be a requirement, but now I am more so just thinking of a life savings plan is a much better and more flexible option. Maybe just set them each up a wallet and load x amount each making quarterly contributions. By the time they are old enough surely they would have more money in that account anyways compared to the mutual fund, right?

Yes that's basically investing in Bitcoin, Bitcoin should have been a replacement since due to the features and quality of Bitcoin. If not for anything, for the fact that Bitcoin is decentralization should have qualified it to replace any investment plans we had prior to knowing about Bitcoin. The choice of choosing Bitcoin won't be a regrettable one. Bitcoin still has alot of fire left in it in regards to it's price appreciation. By the time those investment plans are due for harvest, the amount of wealth you would have generated, if you choose Bitcoin would be astonishing.

Although Bitcoin shouldn't be the only option for your investments and I'm not referring to investing on altcoins but you can diversify to other sectors that have the tendency to appreciate in values as well like real estate investment. You need to diversify so just incase things aren't what you expected when it's time for harvesting your investments you don't get demoralised. Nobody knows the future of the industry but we hope for the best and the best is what is going to come although having back ups aren't a bad idea

You can still combine everything though, that's investing in Bitcoin and also investing in college saving plans and still make profits from all of them due to them all been a good way of investing. Provided you're not wasting money but making investments with them, you're doing the right thing.

[tread93]

At this rate, I am seeing that now most corporate companies plan to remove the college degree requirement for jobs, which will transform the college education long term, and its looking like it won't even be needed unless you're going to be a PhD or a Lawyer etc etc.

The traditional mutual fund / 529 plan isn't really needed anymore if college isn't going to be a requirement, but now I am more so just thinking of a life savings plan is a much better and more flexible option. Maybe just set them each up a wallet and load x amount each making quarterly contributions. By the time they are old enough surely they would have more money in that account anyways compared to the mutual fund, right?

Don't fall for this trap. There are only a handful of companies where they do not look for a college degree to hire you if you have extraordinary talent. 99% of the companies still believe in meritocracy. The world you are dreaming of, is not going to happen in your lifetime. Probably few more generations will be needed to change this social system. So get a College degree and it is best if you can get a masters degree at least.

Saving in Bitcoin should be fine because Bitcoin has the potential to give you a great return which can cover your education cost. But be a little conservative and probably divide your investment to invest in both Bitcoin and mutual fund.

You're right for the most part I think albeit some companies will definitely overlook the college degree requirement for the right candidate that shows the right kind of moxy that they're looking for. This opens up a wide net and i'm sure it'll come with some sort of pay decrease and have some reciprical effects to the professionals that actually have degrees.

You're absolutely right with the notion that you should just invest in both Bitcoin and Mutual Funds. I like that and it honestly should not ever be just one or the other but taking each into account and thinking of each scenario having both surely couldn't ever hurt.

[EarnOnVictor]

At this rate, I am seeing that now most corporate companies plan to remove the college degree requirement for jobs, which will transform the college education long term, and its looking like it won't even be needed unless you're going to be a PhD or a Lawyer etc etc.

The traditional mutual fund / 529 plan isn't really needed anymore if college isn't going to be a requirement, but now I am more so just thinking of a life savings plan is a much better and more flexible option. Maybe just set them each up a wallet and load x amount each making quarterly contributions. By the time they are old enough surely they would have more money in that account anyways compared to the mutual fund, right?

If I told you that I know where you are actually driving at, I am telling a lie, and it's from the beginning to the end that you have been making surprising remarks. By the way, is it possible for entire companies in the world to abandon a college degree and opt for a PhD and lawyers only? That doesn't make sense, and for the record, there are companies that are only concerned about what you can offer them and not certificates per se, and there will always be spaces for a lower degree in all facets of the economy, that will never change for any reason, and this is not about a particular country, there will always be a need to hire from lowest to the highest rank while their paygrade and responsibilities will continue to differentiate them.

But for Bitcoin, it is a means to make money, so anyone can plan their present and future with it. However, one should still be very careful about it, we only know today, we do not know tomorrow. If I were you or anybody, I would diversify my portfolio and not rely on Bitcoin alone. Who knows what will happen in the near future? This is why it is wise for us to be careful here and when we have gained the advantage already, we should use it wisely even as we spread the risks.

[lizarder]

You can learn at college, university, get a degree, find a job and work for money or work for Bitcoin directly.

There are many jobs in cryptocurrency and if you have skills in graphic design, marketing, community management, business development and technical skills for customer support, you can find jobs.

It still talks about skills and what I convey is that work does not need to be seen from the extent of their education, but companies can hire someone based on skills. My country is still quite complicated regarding company criteria when accepting workers because they prioritize degrees rather than skills, even though there are still quite a lot of people out there who are not highly educated and have quite good skills in certain fields.

Not everyone is familiar with cryptocurrency so it is impossible for them to get the opportunity to work in graphic design, marketing, community management, business development, and technical skills for customer support like you are talking about. Although I agree there are lots of opportunities for people if they have skills in this area.

I disagree because education is key to have a solid life and can help you to go through hardest time in your life. Nowadays, with open source, Internet, free courses, you can learn even without paying any fee. You don't have to go to college to learn but learning is very important

You don't need to agree with my view, if you fully understand what I am saying because it concerns the level of education if it is not necessarily needed for the issue of finding a job. Education is just a degree as proof that we have had formal education, because out there there are many people who are not highly educated who have succeeded in becoming business people and there are many people who are successful in the world of Entrepreneurship and so on.

[qwertyup23]

At this rate, I am seeing that now most corporate companies plan to remove the college degree requirement for jobs, which will transform the college education long term, and its looking like it won't even be needed unless you're going to be a PhD or a Lawyer etc etc.

I doubt that this would actually push through given the amount of jobs required to have technical and specialized skill which are taught in some degrees.

Sure, there may be jobs that may not require you to be a college graduate, but I do think that these are entry-level blue collared jobs. While this may also work in first world countries, having a degree in a third-world country is definitely essential and needed to at least guarantee you a paying and consistent job.

The traditional mutual fund / 529 plan isn't really needed anymore if college isn't going to be a requirement, but now I am more so just thinking of a life savings plan is a much better and more flexible option. Maybe just set them each up a wallet and load x amount each making quarterly contributions. By the time they are old enough surely they would have more money in that account anyways compared to the mutual fund, right?

Remember that BTCs are investments. With its volatility, its price may increase/decrease at any given moment. While others may consider it a long-term savings plan, it should, however, be viewed as a moving investment. This means that you must take advantage of the sudden increase on its price because anything can still happen. Its unreliability is what makes it desired as a short-term investment; and the long-term part is considered due to the regular forks that happen every 4+ years.

[moneystery]

Firstly it sound absurd that some institutions or companies according to you is planing to scrap out college degree, I think that's completely impossible and would lead to incompetent hands on very important aspects of the society, imagine being treated by a nurse without degree or your beloved drink company employing no college degree biochemist?
I don't think this would ever happen. Also Bitcoin investment should be a choice a not forced down on people or made a requirement for anything.

what is discussed here is not the bachelor's degree, but the skills and experience of the job seekers, because what companies need are people with good skills and experience in the field they work in. because today there are so many people with bachelor's degrees and it is estimated that the number is increasing every year, and the problem is that most people with bachelor's degrees graduate with minimal knowledge about work in a company or other skills. even though companies need workers who are ready to work, because they waste too much time teaching people about various skills, that's why companies are now looking for workers with an orientation towards skills and experience, not titles.

[Lorence.xD]

Firstly it sound absurd that some institutions or companies according to you is planing to scrap out college degree, I think that's completely impossible and would lead to incompetent hands on very important aspects of the society, imagine being treated by a nurse without degree or your beloved drink company employing no college degree biochemist?
I don't think this would ever happen. Also Bitcoin investment should be a choice a not forced down on people or made a requirement for anything.

what is discussed here is not the bachelor's degree, but the skills and experience of the job seekers, because what companies need are people with good skills and experience in the field they work in. because today there are so many people with bachelor's degrees and it is estimated that the number is increasing every year, and the problem is that most people with bachelor's degrees graduate with minimal knowledge about work in a company or other skills. even though companies need workers who are ready to work, because they waste too much time teaching people about various skills, that's why companies are now looking for workers with an orientation towards skills and experience, not titles.

Having an educational background could help you in the future as companies would be aware of your potential as you have studied for years in a specific field. It is an advantage as you would know the basics and the complicated things that are included for the job which is why some Ph.D. and Law jobs take years to qualify for a board exam. Companies hire people for a role that can be applied and learned by anyone but they are seeking people with work experience, why? They are already exposed to the work industry, they are aware of the pressures and the tiring job, which the fresh graduates haven't experienced yet. They are looking for people who won't resign after a month of working in hell, one of the factors that they choose experience over knowledge.

[Bushdark]

Bitcoin is not a replacement for anything because it's its own asset class. It has different fundamentals that are unique and are not like any other asset, so it makes no sense to talk about Bitcoin investment instead of other type of investment. People with sufficient wealth should strive to obtain a diversified portfolio and the proportion of Bitcoin in this portfolio depends on risk tolerance.

Bitcoin can not be replaced by any coin in the market. It has it own uniqueness and that is what made it the giant of the market.
Investing in Bitcoin is very much better compared to altcoins that can end up becoming a rug pull. This is one of the reasons why many people had decided not to invest in the market especially after they have made several loses in the market. Bitcoin is safe and it uniqueness had made it the best coin in the market.

[TimeTeller]

Bitcoin is not a replacement for anything because it's its own asset class. It has different fundamentals that are unique and are not like any other asset, so it makes no sense to talk about Bitcoin investment instead of other type of investment. People with sufficient wealth should strive to obtain a diversified portfolio and the proportion of Bitcoin in this portfolio depends on risk tolerance.

Bitcoin can not be replaced by any coin in the market. It has it own uniqueness and that is what made it the giant of the market.
Investing in Bitcoin is very much better compared to altcoins that can end up becoming a rug pull. This is one of the reasons why many people had decided not to invest in the market especially after they have made several loses in the market. Bitcoin is safe and it uniqueness had made it the best coin in the market.

I won't also go in that route. College Savings Plan is more tangible than having bitcoin investments.
As any crypto holding is a very risky investment, I won't jeopardize the future of my kids to something uncertain.
I would agree if you will just set aside a separate investment for btc or crypto, but hold onto the College Savings Plan.
Ensure the future of your kid rather than put it into a very volatile investment where you have no idea where will it be after few years of waiting.