Today I found on medium this nice article by Federico Tenga about long term storing of bitcoin to be gifted to future generations.
There are a few interesting points to be considered, some of them I completely overlooked while thinking about this very topic:
So, have a read:
Recently Ive been tasked to gift some satoshis to a newborn baby, who is supposed to redeem them when he grows up, about 18 years from now. The challenge was trickier than originally expected, as there are many different ways to store bitcoin, each one with different trade-offs, and at the same time its hard to predict the state of the Bitcoin industry two decades into the future.
https://i.imgur.com/Ht9UlN7.pngHardware compatibility doesnt age wellAfter a few thoughts he came with this solution:
https://i.imgur.com/ViOwbfy.pngRead the whole article here:
He has an (inactive) account here on Bitcointalk, maybe if you have enough comment we can summon him back to the forum!
Life is risk. Saving bitcoin for newborn child is not bad. The coin is limited and only 4 million left to be mined and supply will reduce after halving. This can make the price to still increase in such a way the supply will decrease and the demand will increase and thereby price will increase overtime. To me, it is good because I believe at that time bitcoin will worth more than $100,000 because it is a limited coin.
But, if I am the man, I will prefer ethereum, litecoin or dash instead of bitcoin because if bitcoin price trend up, this altcoins price trend up in two to three folds compare to bitcoin. But as to what the man did, it is still perfect to me.
