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.
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.
I did the same, I put some amount every week, and I been doing it for two months now, I was surprised by the amount I have invested, doing nothing, yet its growing. Only me and my wife knows about it and I am sure it cannot be stolen for it has to send an authentication code to my email and mobile number.
It can't be stolen, not yet. But in 20 years, wouldn't we have even more powerful computers to crack SHA256 keys easily?
I think, having a smart contract based on blockchain that delivers these private keys to your kids based on criteria defined (when they reach certain age, when certain event happens) would be best way to pass on the investment. Would be much better option than writing down on paper and possibly having it lost.
https://www.commbank.com.au/guidance/newsroom/CBA-and-QTC-create-first-government-bond-using-blockchain-201701.html
There are lot of banks and even some governments are investing in blockchain based asset management. Sooner or later we will have some bank or govt. giving us digital safety box, where you can store these private keys and have it pass onto your kids.