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50 sats \ 2 replies \ @tomlaies 8 Jun 2022 \ on: How would you maintain long-term wealth? bitcoin
Wrong premise. I believe that 1 Bitcoin is 1 Bitcoin. And will be 1 Bitcoin in 10 years.
Generational wealth comes from foundations. Makes it physically impossible to spend the money or move it out of investments for your children.
Or brainwash your child into always putting the family business first and never selling it.
That's the two ways how old money families from Europe stayed rich for generations.
In order to discuss managing money in current context we have to give a value to bitcoin beyond one bitcoin equals one bitcoin. I get it..but I am giving it a hypothetical value in 10 years of $1,000,000 (at current value) as a reference. If the dollar hyperinflates a bitcoin will be worth far more than 1M dollars in 10 years. When everything is in satoshis and the dollar is no more .. that's an argument. It's not valid at this point in my opinion.
"Makes it physically impossible to spend the money". I believe this is the core of what i'm trying to get at. We put it in a trust. We legally guarenttee how it's being maintained. But what can we do to allow it to continue to grow as investment (not just grow in $$ comparision value because the dollar is falling in value).
Or at least make it so that it never goes below 1 btc. in stock terms .. i put the the stocks in the trust and the dividends are distributed out as the payout so to speak. One reader had the idea of a lightning node. The btc provides the liquidity, the gains could be distributed as dividends to speak.
thanks!
McIntosh
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I think you can do in a trust whatever you want. Old money has in the "laws" of their trust that all the money is invested in stocks or real estate. You could make your trust with Bitcoin & Lightning node or Mining hardware.
But I think you should ask yourself first why you even want to dictate what you children and descendants are allowed to do with inheritance? Isn't this unethical? If they want to blow it all on cocaine and hookers ... why patronize them from your grave? If they are responsible and of age?
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