When your whole life is built around Bitcoin

[summonerrk]

That's it, that sounds really cool.
And I also want to advise you to do one initiative that my friend, a trader, did, he saved up two extra bitcoins, which he put aside specifically for his children, one bitcoin for each, and he will give it to them on their 18th birthday.

For me, such an action remains a dream, but nevertheless, I am seriously determined to do so in a few years. And it's will happen faster if Trump will resume to dump prices.

[BenCodie]

What will you do if your whole life is built around Bitcoin and crypto only? And assuming you are from a country where the system isn't that great and you managed to grow with the help of Bitcoin and after few years of trying to bring a child into the world your prayers is finally answered. What do you think you could pass unto your child? From Bitcoin side.

Congrats to me I now have a month and one week old baby, but this thought can't seem to leave my mind, That thought of what can I pass unto my child as a Bitcoin trader and investor?

Thinking about.....

I have free electricity via solar power with enough juice wasting everyday, maybe I should start mining some BTC in my sons name for his future.

Maybe I should just get a wallet in his name and start buying small piece on BTC for him every month.

Forget about me for a moment and put yourself in my shoe, I am sure there are family men and women on here, what will you plan to do if you are in my shoes right now?

Firstly, congratulations on your new arrival 

Your idea to mine is the perfect idea that won't effect your livelihood but will potentially create something of value for your son down the line. DCA'ing a small amount for cold storage of course, is a good idea too.

That's it, that sounds really cool.
And I also want to advise you to do one initiative that my friend, a trader, did, he saved up two extra bitcoins, which he put aside specifically for his children, one bitcoin for each, and he will give it to them on their 18th birthday.

For me, such an action remains a dream, but nevertheless, I am seriously determined to do so in a few years. And it's will happen faster if Trump will resume to dump prices.

This was very nice to read, I haven't read, heard or seen that happen often though this is a great thing for parents to be doing/aspire to do/have done (when it was a little more affordable to do so).

[uneng]

Maybe I should just get a wallet in his name and start buying small piece on BTC for him every month.

Forget about me for a moment and put yourself in my shoe, I am sure there are family men and women on here, what will you plan to do if you are in my shoes right now?

I don't have any children, but if I had, I would teach him about Bitcoin and how it helped his father to achieve some decent financial progress in life.

Also, it's a good idea to create a wallet for savings on his name, so this money can be applied on his future for personal development, although to mine Bitcoin doesn't worth anymore these days.

There is only one thing I get concerned about. Should the father give abundance of resources to his child, or should he guide his child through the path of hard work? I say that because somehow the lack of resources I had at some point of my life motivated me to conquer things by myself. If I was in a comfort zone, probably I wouldn't be where I am today.

[Z_MBFM]

Congratulation for you and your family

Bitcoin mining is not a very smart idea at the moment. You can mine Bitcoin if you want, but you have to use a lot of expensive equipment to mine it, but you will not get the mining results accordingly. So the plan you have made for your child to open a Bitcoin wallet in the child's name and deposit Bitcoin there every month, you can add a small plan here that you can buy Bitcoin with the amount of money you buy for Bitcoin mining equipment and hold it. Those who have been mining before are in a good position, but I do not support those who want to start mining newly now. Because Bitcoin mining is almost over, now the mining is very slow, which I do not think will give you satisfaction. So buy Bitcoin as much as possible and keep saving them. And since Bitcoin depends only on a private key and this is because you want to save for your child's future.  So keep that private key in such a way that your child has the opportunity to inherit it after you die.

[coolcoinz]

I'm not trying to get bitcoin for my children. Hopefully I have enough time left on this Earth to spend most of my savings. The idea is to let my children decide what they want to do, build their fortunes with me helping them. I don't want to think what will happen when I die and they're left alone. If they'll use bitcoin, or not.

The plan is to be there for them, manage my wealth and help them create their own. If they decide they want to study, become researchers or inventors, or maybe start a business, I'll be there to help them with advice and money. Yes. most of my life is built around bitcoin, but I have other sources of income and without bitcoin I'd still manage. Life would be more difficult, but as long as you are healthy and have a strong will, you can achieve your goals.

[Outhue]

Wow... A big congratulations to you and your family.

Mining is very expensive and solo mining wouldn't give you any profit because it will be hard for only you to be able to mine a block due of the increase in difficulty target. If you are interested in mining, you should join a mining pool.

It will be good if you open a wallet for your child and deposit bitcoin in his wallet for him/her whenever you can or when he's been given funds as a gift, you can use it to buy him bitcoin. When your child is ten years, you will be surprised on how much bitcoin has been deposited into his wallet.

Thank you.

Mining is considered very expensive because of power consumption, but I do have enough power that's wasting away that's why I included the idea of mining Bitcoin, even if its solo mining I believe that one day he can be lucky, I am not even planning to use small solo mining engine, not the type with 1TH to 6T, I can still afford to plug away a 16TH Asic miner on solo for years to come.

I know buying bitcoin using DCA is the most easier but I have made up my mind to do both for him, I will keep accumulating some Bitcoin and also will start the solo mining too, on the long run there will be no such thing as time wasted.

Thank you for showing care, much appreciated.

[FortuneFollower]

I'm not trying to get bitcoin for my children. Hopefully I have enough time left on this Earth to spend most of my savings. The idea is to let my children decide what they want to do, build their fortunes with me helping them. I don't want to think what will happen when I die and they're left alone. If they'll use bitcoin, or not.

The plan is to be there for them, manage my wealth and help them create their own. If they decide they want to study, become researchers or inventors, or maybe start a business, I'll be there to help them with advice and money. Yes. most of my life is built around bitcoin, but I have other sources of income and without bitcoin I'd still manage. Life would be more difficult, but as long as you are healthy and have a strong will, you can achieve your goals.

It's great that you have ways to stay afloat no matter the case.

Your children will say their thanks to their old man when it is needed Keep the work coming!

[madnessteat]

I'm not trying to get bitcoin for my children. Hopefully I have enough time left on this Earth to spend most of my savings. The idea is to let my children decide what they want to do, build their fortunes with me helping them. I don't want to think what will happen when I die and they're left alone. If they'll use bitcoin, or not.

The plan is to be there for them, manage my wealth and help them create their own. If they decide they want to study, become researchers or inventors, or maybe start a business, I'll be there to help them with advice and money. Yes. most of my life is built around bitcoin, but I have other sources of income and without bitcoin I'd still manage. Life would be more difficult, but as long as you are healthy and have a strong will, you can achieve your goals.

Initially I had plans to gradually accumulate BTC for my children, but it so happened that I decided to get real estate first, which will benefit not only my children but also me, besides real estate has less volatility than cryptocurrencies, which is a bit more important for me nowadays. I hope my remaining life will be enough to accumulate a few BTC for my children, because I truly believe that over time this asset will only grow in value. And time is only proof of that.

[X-ray]

Sounds like a good idea honestly.

Early exposure to technology like that might motivate them to strive for career in technology. Because I've seen plenty Gen Z devs who got exposure into crypto getting themselves a career in crypto developing world and this honestly astonishing.

Or maybe great deal of people actually already did this and by the time your kid become adult bitcoin gonna be mainstream so it will become mainstream knowledge.

[nemesis_incarnate]

Sounds like a good idea honestly.

Early exposure to technology like that might motivate them to strive for career in technology. Because I've seen plenty Gen Z devs who got exposure into crypto getting themselves a career in crypto developing world and this honestly astonishing.

Or maybe great deal of people actually already did this and by the time your kid become adult bitcoin gonna be mainstream so it will become mainstream knowledge.

Even if they won't be going for a career in space, they would still know about the possibilities out there. And maybe teach their own kids accordingly

[CageMabok]

...

Congratulations on the birth of your son! That’s awesome. I would open a wallet and buy BTC every month. Mining with solar panels is also a great idea. It's also important to teach him the basics of finance and cryptocurrency. Let him grow up understanding what financial freedom is!

You can also apply the brilliant idea you have now to your own child in the future because in my place right now no one is mining using solar panels. So it can be said to be a brilliant idea because you are able to use it for something more useful, namely mining that can run without limits because I often see solar panels being used to find electricity that can be used for various other things in everyone's life. And for children who are still babies or not yet adults, I think they will reach a time when they will understand for themselves what financial freedom is because when children see the work done by their own parents, they will definitely ask and follow what their own parents have done in the future.

[betswift]

...

Congratulations on the birth of your son! That’s awesome. I would open a wallet and buy BTC every month. Mining with solar panels is also a great idea. It's also important to teach him the basics of finance and cryptocurrency. Let him grow up understanding what financial freedom is!

You can also apply the brilliant idea you have now to your own child in the future because in my place right now no one is mining using solar panels. So it can be said to be a brilliant idea because you are able to use it for something more useful, namely mining that can run without limits because I often see solar panels being used to find electricity that can be used for various other things in everyone's life. And for children who are still babies or not yet adults, I think they will reach a time when they will understand for themselves what financial freedom is because when children see the work done by their own parents, they will definitely ask and follow what their own parents have done in the future.

Children will appreciate your hard work once they get a hold of things - and it's very nice to be prepared for the future to come and especially knowledge-wise too.

[Cpt_reader]

The world is improving day by day and digital currencies are starting to be introduced. There was a conflict between Russia and America over Ukraine. The Russian President announced that they would continue their business activities through crypto currency. Bitcoin is a stable coin. The future of which is very bright. My goal is to buy Bitcoin for my son and daughter, even if it is a little bit from my salary every month. Think about where the price of Bitcoin will go after 20 years from now, thinking about its origin. How much was the price of Bitcoin 10 years ago and how much is it now and what will it be after 20 years. All in all, Bitcoin will be our dream once.

[dezoel]

That's it, that sounds really cool.
And I also want to advise you to do one initiative that my friend, a trader, did, he saved up two extra bitcoins, which he put aside specifically for his children, one bitcoin for each, and he will give it to them on their 18th birthday.

For me, such an action remains a dream, but nevertheless, I am seriously determined to do so in a few years. And it's will happen faster if Trump will resume to dump prices.

1 Bitcoin each? So if Bitcoin is priced at $500k at that time, they are getting $500k as a birthday gift, sounds like a dream, lol .

Anyway, it does sound like a great idea, especially to make them start their journey with cryptocurrencies, or maybe they might have already started it by that age, and then they get a surprise from their dad on their 18th birthday, a capital that they can use for their trading activities.

Someone who can't afford to save that much can still do it but with smaller amounts, like DCAing into a wallet that you are supposed to use for only this purpose. So what you basically do is buy a certain amount every month and send it to that address, and after a few years, the wallet will surely have a good sum that then you can decide how you want to divide on your children when they grow up if they are still young.

[GideonGono]

What will you do if your whole life is built around Bitcoin and crypto only? And assuming you are from a country where the system isn't that great and you managed to grow with the help of Bitcoin and after few years of trying to bring a child into the world your prayers is finally answered. What do you think you could pass unto your child? From Bitcoin side.

Congrats to me I now have a month and one week old baby, but this thought can't seem to leave my mind, That thought of what can I pass unto my child as a Bitcoin trader and investor?

Thinking about.....

I have free electricity via solar power with enough juice wasting everyday, maybe I should start mining some BTC in my sons name for his future.

Maybe I should just get a wallet in his name and start buying small piece on BTC for him every month.

Forget about me for a moment and put yourself in my shoe, I am sure there are family men and women on here, what will you plan to do if you are in my shoes right now?

Secure his future, make sure that he would have a place to call home.
Don't just rely on crypto have some other investment too, mining crypto could be great but what if crypto wouldn't be the same in the future?

[RockBell]

I'm not trying to get bitcoin for my children. Hopefully I have enough time left on this Earth to spend most of my savings. The idea is to let my children decide what they want to do, build their fortunes with me helping them. I don't want to think what will happen when I die and they're left alone. If they'll use bitcoin, or not.

Only people that are old should have this mentality and imagine making profit and all you are saying is that you won't spend money it is not proper and as far as you are doing your duty I don't have issue with that but just because I have kids does not mean that I will not enjoy my self it is not possible. And when you are no longer alive they can take over to also enjoy the benefits and don't be surprised that they might not even have to deal with bitcoin and if they are grown they might have ventured into other things and would have settled them self.

The plan is to be there for them, manage my wealth and help them create their own. If they decide they want to study, become researchers or inventors, or maybe start a business, I'll be there to help them with advice and money. Yes. most of my life is built around bitcoin, but I have other sources of income and without bitcoin I'd still manage. Life would be more difficult, but as long as you are healthy and have a strong will, you can achieve your goals.

Been there for them as a father is something that everyone will have to do so there is need to make provision for what ever they will be need so they when they are grown up they can take care of there self at least you have done your duty as a father. And even within does period you can even teach them about bitcoin and they will get to a point that they don't need your money. And that is how it is suppose to be Just that we learn every day.  And when you have other sources of income it makes things very easy. And it is better to train the child how to catch fish. And even when you are not there they will be able to survive without you. Not just spoiling there children with funds but spoiling and putting in the right direction is okay.

[summonerrk]

What will you do if your whole life is built around Bitcoin and crypto only? And assuming you are from a country where the system isn't that great and you managed to grow with the help of Bitcoin and after few years of trying to bring a child into the world your prayers is finally answered. What do you think you could pass unto your child? From Bitcoin side.

Congrats to me I now have a month and one week old baby, but this thought can't seem to leave my mind, That thought of what can I pass unto my child as a Bitcoin trader and investor?

Thinking about.....

I have free electricity via solar power with enough juice wasting everyday, maybe I should start mining some BTC in my sons name for his future.

Maybe I should just get a wallet in his name and start buying small piece on BTC for him every month.

Forget about me for a moment and put yourself in my shoe, I am sure there are family men and women on here, what will you plan to do if you are in my shoes right now?

I would gladly give up all my business and hobbies if the income from cryptocurrencies provided me with everything. But income from cryptocurrencies includes the concept of trading, which is dangerous. My next attempt to trade not Bitcoin but altcoins failed, once again making it clear that everything else is garbage except Bitcoin. I would like the country where I live to adopt Bitcoin more actively, but this is not happening. Even if there are some good laws that will be in effect for a couple of years, I don’t know what will happen next. Perhaps I will be able to make a level of income so that I can not be distracted from the crypto topic by something else. But so far it is far from that.

[mindrust]

Being obsessed too much with bitcoin is not the healthiest lifestyle. Any obsession is no good when you think about it. Bitcoin/trading/blockchain etc might be your job but you should  be able to leave them aside when you are in your free time. Otherwise it would mean you are taking no time off from work which is pretty dangerous for your mental and physical health.

Everything in life is about a balance. Once you start living your life in an unbalanced way, everything becomes a mess.

[philipma1957]

Being obsessed too much with bitcoin is not the healthiest lifestyle. Any obsession is no good when you think about it. Bitcoin/trading/blockchain etc might be your job but you should  be able to leave them aside when you are in your free time. Otherwise it would mean you are taking no time off from work which is pretty dangerous for your mental and physical health.

Everything in life is about a balance. Once you start living your life in an unbalanced way, everything becomes a mess.

You are a shining example of being able to get off the rollercoaster.

Glad to see you still posting.


I am considering dumping all coins as I am tired of playing the game.

[mindrust]

Being obsessed too much with bitcoin is not the healthiest lifestyle. Any obsession is no good when you think about it. Bitcoin/trading/blockchain etc might be your job but you should  be able to leave them aside when you are in your free time. Otherwise it would mean you are taking no time off from work which is pretty dangerous for your mental and physical health.

Everything in life is about a balance. Once you start living your life in an unbalanced way, everything becomes a mess.

You are a shining example of being able to get off the rollercoaster.

Glad to see you still posting.


I am considering dumping all coins as I am tired of playing the game.

I have left the roller coaster in a very stupid and unfortunate way but I have been playing it again for some time. On a much smaller scale though. (Whlch means I got rid of my obsession with crypto)

I have been a believer of having a diversified portfolio since then and so far I have no regrets.

I have built a resilient cash income engine which probably has its own damn mind now.