Making a 14 year long Steem investment for my child; will a 100 Steem Power investment give him a lot of money for when he grows up to be an adult?
I remember reading a discussion about whether or not long-term cryptocurrency investments were good or bad, with the debate focusing especially on potentially investing Steem and other cryptocurrencies to our children for them to cash out when they have grown to become adults.
I really found this an interesting experiment, and have been thinking a lot about this lately. While I believe that Steem is a great investment at this time, how could anyone know what the value is like in 15 to 20 years from now?
I see both benefits and problems with this investment, and the big question is how the blockchain technology will even look like in 14 years from now. We are still at the beginning of this crazy ride, and for all I know all the blockchains we are currently using might be replaced by new ones at this point, and it is next to impossible to predict the technological development for such a long time ahead.
Other people have done it already
One of the people who really got me thinking about this is @papa-pepper who created an account for his children. He did not just give them an investment, he let them blog from their account @little-peppers, and so far their account has almost 3,000 Steem valued at over $10,000 USD. That is a lot of money for a group of small children! And who knows what this might be worth when they are old enough to manage the money themselves? This could easily be enough to make sure they can all afford houses, college and whatever else they could need when they become adults, especially if my bullish predictions on Steem is somewhat correct.
He wrote a post about how this has affected his life a month or two ago, and I wanted to find it for you do you could read yourself, but if you remember my post from yesterday; I'm still stuck with an internet connection that won't load in 90 % of the cases, so I cannot possibly manage to scroll that far back to find it on his profile!
Investing 100 Steem to my child
If you have been following my blog for a long time, then you might remember that I became a father a while back, so this is one of the reasons why I found these discussions about investing crypto long-term interesting. After giving it some though, I decided to do this for him, and see if the investment will be valuable in 14 years from now, or if Steem is long gone by that time.
The reason why I chose 14 years is because we have a kind of rite of passage for 15 years old children here in Norway, where we like to give these teenagers a lot of money. I’m not saying it’s a good idea to give a 15 year old teenager a lot of money, but that’s what the tradition is like.
So what I’m going to do is to create a new account for my child, invest it with 100 Steem Power, print out the keys for him, put these in an envelope in a safe place, and not open them for 14 years.
I am planning on keeping the Posting key for a while, as to do some “wealth management”. I’m currently not sure if I want to just use his posting key to join a curation trail, or if I should let him get bigger rewards by selling with Steem Power as delegations. Selling a delegation for 14 years could absolutely get him a lot more Steem, but then again, it is much easier to just set up a curation trail to join.
This is a pretty risky investment
As mentioned above, I do have high hopes for Steem in the next few years, but there is absolutely no way to know how the world will be like in 14 years from now. Most social networks tend to become popular and die off again within this timeframe, so Steem and Steemit might have already peaked many years before he is allowed to cash out. So for this reason I do believe that this is a very high-risk investment, but at least it makes for a cool story 14 years from now.
If anyone of you have done anything similar, let me know in the comments. I think most people believe that this is an investment that is too high risk due to the time-frame of it, so it would be cool to see what you guys think.
What do you think the value of Steem will be in 14 years from now?
About @valth
Hey, I'm @valth - the author of this post. I love to write about nature, biology, animals, nature conservation, ecology and other related branches of science, and I occasionally write about my life, about Steem or about random stuff as well. I'm trying my best to write at least one post every day, so make sure to give me a follow if you enjoy my content and want to see more of it.
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Oh well, buying up 100steem for my kid if i had one right now will be a super investment in my opinion, it is true that social media platforms have a limited life expectancy but i see the steemit ecosytem hasnt even realised 10% of its potential. We might just be seeing the blogging part of it right now, but wait till when steemit becomes a way of life, a community of communities, a place where everything you want is, do not forget that steem is already becoming acceptable for payments in some parts of the world, to top it all, look at how the demand of steem or and sbd affects the market on a daily basis, and we arent even up to 1,000,000 users yet,. How do you think it will be like at 100,000,000 users? The 14year plan is live, you might not remember this post, but the blockchain will never forget. I say you take the step if you can afford it. I totally will if i could
Cheers
Hi, @mistakili.
I agree fully. We're probably closer to 1 % than 10 % even, in my opinion. And you make some very good points; Steem is a lot more than just a blogging platform, so there's a huge potential here! I'm looking forward to the future ahead of us :D
Thank you so much, can i find you on discord?
No, sorry, I don't use Discord much at all.
Thats alright, i guess i just have to keep looking out for your posts...thanks
Interesting approach to a saving account.. We have the same tradition in Denmark and no, it's rarely a good idea to give a lot of money to kids, specially not teenagers, but what can you do? :)
This way your kid will receive a large value without having immediate cash to blow on the first and the best impulse, all while the money is right there and available to pay out if so desired, taking just long enough to rethink the first few decisions a couple of times.
I'm not sure if I'd go with a curation trail or delegation.. maybe rent it out like blocktrade does or something like that? At the moment 100 SP equals 10.5 SBD for a 90 days rent which is probably not that profitable if that's all you got to rent out, but tweek the numbers a bit and I'm sure you can find a reasonable deal with someone for a steady growth :)
Yeah, that was what I was thinking in regards to delegating it away. I sell the delegation, and get a weekly payment of Steem that I will power up on the account, so I have even more to sell. That way it keeps growing steadily over the years :)
Yeah, it will take a while for it to grow, but it's a lot better than just curation rewards at least.
First of all heartiest congratulation to become a dad. The way you are thinking about your baby is the true affection of fatherhood. My Dad did the same on my birth by investing all my gifts money + his share on saving certificate and fixed it for 20 years for my studies. Steemit was not an option at that time.
It's so nice of you and @papa-pepper to give amazing idea to this community. Sharing is caring and you are doing a wonderful job by giving new idea to this community. New idea is not an idea it's a hope to do some thing big in life.
I am not a future expert so don't know the price of steem after 1.4 decade, but hopefully it will reach to sky high. Indeed steemit is a risky investment. But you know when the greater risk involve greater the reward. One can also endows his/her account for his children and think it's for their children future investment. It's suitable for those people who have other source of income. All the best. keep sharing @valth
Thank you!
Aw, that was nice of him!
Yep, that's true. Steemit has the potential to grow 100x or so if we become mainstream, and very few other investment opportunities has such a high potential.
Thanks for the comment, @kamchore!
you are most welcome @valth
Affection of parents for their children is a best gift that a child have in his/her life. Parents sacrifice a lot of thing for the future of their children, even parents of Pakistan and many south east countries bear expanse of their children till the completion of studies. Normal studies complete in our region at the age of 22-23 years.
Yes my father is so loving man. He sacrifice a lot of luxury for myself and my sibblings. May GOD give him good health.
Yes steem has a great potential to go rocket high. so just go for it & Hope for the best. All the best. keep sharing @valth
I've just started visiting your blog, first of all, i would like to Congrats you on becoming a father.
I've heard from someone that steem is going to touch the 100$ figure after two years,
and you are talking about 14 years, That would be a good investment in my point of view.
We all have seen the rapid growth of this platform, so no chances of the doubt what so ever.
Delegating steem is also a very good idea.
I'm also thinking to invest in steem.
Hi, @abdulmanan. Firstly, thanks for stopping by by blog and commenting! I'm glad to have you here :)
And thank you! I also think Steem could easily hit $100 within two years, so it might be very high after 14 years. I have seen people predict that it will hit as much as $1,000 within 5 years, so who knows what it will end up being worth?
Best regards from @valth
1000$ :o
Do Good and leave rest to God,
He is a bigger planner then us <3
Hope for good.
I saw this today and I think it would give you reasons to believe that you made a great investment!
See where steemit is....
Yeah, that's true. We're the next-gen version of social media, so we have a huge potential to grow a lot!
Interesting proposition....
Optimistic Calculations
I think steem can be worth a lot say 10000$ at that time,,,But remember 10000 dollar would be worth veery little at that time...
Lets calculate on the basis of
1steem = 10000$
and every 5 years steem will double because of vote selling...
so in 14 years
It will like roughly 750 steem in the account
So 750 steem = 750* 10000= 7500000$(7.5 MILLION)
But due to depreciation it would be worth of say 1 M$ of today(worse depreciation scenario)
So still it's a lot to have....
If your calculations are correct then this investment currently worth $350 could make him a millionaire. It's crazy! But a lot of things can happen between now and then, so we just have to see. I don't really think Steem will hit $10,000, but who knows anymore? We certainly have the possibility of getting a billion or more members in due time, so it might happen at one point.
That's one thing I didn't think of. I see that Minnowbooster offers roughly 35 % annual increase, so it might even double every three years. I should definitely delegate away the Steem if I want him to get a bigger payout for his celebration in 14 years.
Its the crypto world and possibilities are endless. .so 10000$ is not out of range...
And minnow boaster returns are even more as per you...
So this is a promising investment ...
That's a good point. It might boom at one point, especially on such a long-term scale!
In 2009 no one would have predicted and expected that Bitcoin would hit 10,000$. But in 2017 we have seen it. So it is impossible to predict the capabilities of cryptocurrencies.
That is excellent investment for you child. I will do the same for my kids. Putting the 100 Sp not so much now but it can be a fortune in 10 years time. If it won't nothing too much to worry as well. Thanks for inspiring me with this great idea. Hugs from Spain. Followed and Upvoted happily.
Yeah, that's what I was thinking as well. It's not too much to lose if something happens, but the potential is extremely high.
I'm glad to hear that I inspired you to do the same, @funworlding!
Congrats my friend, I'm happy for you! It is interesting idea, I will try to visit your blod 14 years later :)
I have bought some Steem power too but for myself, If I have money, I would buy more. I think Steem is a good choice for investment.
Thank you!
It will be very interesting to see if I still blog on Steemit in 14 years from now. I have a good feeling about it being a platform that will still be used a long time from now, so it will certainly be exciting to see.
That's great! I think this crypto dip we experience right now is a good opportunity to buy Steem for cheap, and I'm sure we will get back up to $8+ in a few months from now.
thats a good thing your doing for you boy who knows hopefully steems booming in 14 years. i couldnt help notice your dog in the photo heres mine in a red bow and a matching pillow
Aww, that's a cute dog :D It's great to see that I'm not the only one who dressed my dog up with a bow tie! Hehe
my idea about this is that you create an account for your child and run it by yourself for a few years, look for technology where it goes if there comes a point that steemit gets crashed or something bad happens exactly at that time take all cash from it. new technology must have been established in future, invest that money in a new platform for your child.
Yeah, that's a good point. I am obviously using Steem every day already, so I will know about it very fast if something were to happen. I think I might move his funds to another crypto if I decide to do it with my own Steem at one point I guess.