I think that everyone can agree that we want our legacies to live on. In the past, one of the best ways to do that is to buy government bonds (at least, in the U.S.). I know that my family has done it, and many others too. It proves to be great profit, and is a nice gift to your great grandchildren or whomever.
But in the past few years, we've seen the biggest financial revolution in history. The dawn of cryptocurrencies and blockchain technology. Making money democratic, and free from regulation. If you've payed attention to Bitcoin at all, you know that it has grown from being worth $0.00 to over $1,000 at one point! That's insane for a currency! We're supposed to have to worry about inflation, not deflation!
But the most interesting thing is that most people today still don't know about Bitcoin, and most people definitely don't understand it. This leaves me to believe that once everyone really picks up Bitcoin and starts using it that the price will just keep going up, and probably forever (providing that another currency doesn't take over). Everyone thinks that the 2013 Bitcoin price jump was "The Bitcoin Boom", but I think that the real booming is yet to come.
The Bitcoin price will boom once again whenever it hits the mainstream, and for real this time, soon. Very soon. Probably within the next 20 years. But think even bigger. Imagine what it will be in 50 years, or when you're gone in 100 years?!?! You certainly can't profit off of that. But your grandkids can.
If you really want to help your family out many years from now, here's what I advise.
1. Create a paper wallet (tutorial here)
2. Pickup a time capsule from Amazon (something like this)
3. Roll up the paper wallet, put it in the time capsule, and write an opening date on the side.
I know for sure that if Bitcoin was invented 20 years ago, I'd be needing that Bitcoin for my ever so small college fund.
In 50 or 100 years... Either steem will be the only global currency, or Trump will have won the election and triggered a nuclear war, wiping out all of mankind...
I choose steem!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
What about Bernie? Then we will all plummet into the dark chasm of socialism, and censorship. Wait, but then Steem would still be the only currency and we would be free of censorship. Looks like the only way we lose is if Trump becomes president... voting for Bernie now.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Great advice.
p.s. A Trezor is a good alternative for long term bitcoin storage.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit