Ninjastic
PostEdited versionsQuotes to this post
Post
Topic
Board Bitcoin Discussion
Re: Early bitcoin investment for my baby
by
LogitechMouse
on 17/03/2023, 23:26:29 UTC
Quote from: Victorybit1 on March 14, 2023, 03:43:21 PM
Quote from: Bananington on March 14, 2023, 01:48:54 PM
Quote from: Victorybit1 on March 14, 2023, 01:22:57 PM
Few days back, I came across a post encouraging people to use the money well wishers gives to newly born babies and mothers as a gift  to invest in bitcoin for the baby,  then I was pregnant, just delivered 3rd of march. My baby and I has made up to $50 if converted just 10days after giving birth.  I am definitely going to use the money to invest in bitcoin this year for my baby so that in the next 18 years my baby will be proud of the decision I took for hi

Will you really be able to Hold the bitcoins for your baby till he/she becomes older? 18years is a long time and a lot of things can happen in that time. If you want to invest in bitcoins for your child, you need to be invest a huge amount and not crumb by crumb. Also before you child come of age, you have to ensure that you have done the part of educating him or her well about what bitcoin really is, so that at the end when you hand them ownership of the bitcoins you have been keeping for them, they will actually know the value and not waste it.
commercial banks encourage people to save for their children until they are of age to handle the account why can't we do same for bitcoin. This is not a bad idea if I must say.
The risk between putting your money in a bank and putting all of your money in Bitcoin is very different.
The risk is higher when you put your money into Bitcoin as it's very volatile however, if you can handle the price movement of it, and you're still ok even though you see your holdings down ~50%-80% if it happens then there's nothing wrong with it, and you can just simply put your money into Bitcoin, and don't put it into banks.

Commercial banks encourages people to save money for their children for their own sake. They wanted you to save your money in their banks so that they can loan it out 10x to other people. Fractional reserve banking. Who will be the ones who will benefit from it? Only banks and you as a depositor? You will not because the interest is very low knowing how high inflation is.

Anyway, congrats to your baby, and you're Bitcoin investment for the future of your baby. I don't have a baby ATM, but I already set aside a specific amount of Bitcoin just for him/her. Smiley Too early I guess.