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Hi, my name is Otoh & I have decided to create a fund for Hannah, today, the 6th January 2012, I paid in $50 & once a decent amount is raised then I shall hand it over to my good friend Jenny, Hannah's aunt, though will continue to manage it if she wished & she has full control access to all accounts/passwords from when ever she would like.
 
The idea is to choose some long term investments that can be stored in the cloud, my first pick is the virtual P2P crypto currency Bitcoin - other suggestions are welcome, I plan for the accounts to be handed over to Hannah at 18 years of age or if they have become of a substantial value then a proportion at 18 sufficient for Uni & the balance at 24 yoa (1/3 - 2/3) - (& I have put email dead man switches in place to be sure of continuity), so first some info re Bitcoin.









Explain Bitcoin Like I'm Five - If you still can’t figure out what the heck a bitcoin is…

The reason it's so hard for most people to understand Bitcoin is that they don't understand money, money isn't wealth, it's an accounting system to facilitate the exchange of wealth. Money is a means for credibly conveying information about value given but not yet received (or at least not yet received in a form in which it can directly satisfy a person's needs or desires). 

To put it yet another way, money is simply a ledger, with fiat currencies like the dollar, that ledger is centralized and that gives the central authority responsible for keeping that ledger tremendous power, power that history has proven will inevitably be abused. 

With Bitcoin, the ledger is decentralized, and that means that no one individual or entity has the power to arbitrarily create new units (thereby causing inflation), freeze (or seize) your account, or block a particular payment from being processed. 

We've had decentralized money before, no one can simply print new gold into existence, and the "ledger" of gold is distributed because the physical gold itself (the "accounting entries" in the metaphor) is distributed. But with gold, that decentralization comes at a heavy price (literally). The corporeal nature of gold makes it hugely inefficient from a transactional perspective. 

Enter Bitcoin. It is the world's first decentralized, digital currency. It is more reliably-scarce than gold, more transactionally efficient than "modern" digital banking, and enables greater financial privacy than cash. It could certainly still fail for one reason or another, but if it doesn't, it has the potential to be very, VERY disruptive.

A non-inflationary digital currency that has no counter-party risks, that can be transferred globally and near instantaneously with minimal fees.

The first ever currency that can not be counterfeited.

(Quoting: Roger_Murdock, myself & others.)


By 2033 practically no further BTC will be generated (no more supply inflation, in fact deflation due to forgotten/lost coins) & Hannah will be 27 years old.

BTC vs USD: 

2009: + 4,867%  2010: + 387%  2011: + 1,610% ($0.292 - $4.70)  2012: + 284% ($4.70 - $13.55)  2013: + > 6,000% ($13.55 - $815)  

2014: +/- ??  ($815 - $....) 2015: ...  2016: ...  2017: Wide spread adoption, especially in the US = ???  ...  2033: O_O

Here are the deposit addresses for the accounts that I've set up for her.


Hannah's main savings account address, long term holdings:   1HannahHJJe2b7TGw9MLb5BSPCEUDsTG4p


QR Code:



Any transfers into this account will go directly to Hannah's funds (note that Bitcoins themselves could become worthless overnight due to many factors - they could also become the next Apple/Google/PayPal etc, but please assume that any donations here are a casino with absolutely no expectation of any return or obligation from me at all, that said I do hope to help to make Hannah a well off young lady if fortune smiles upon this venture.) I fully expect for Bitcoin to gain critical mass & wide adoption by 2017, most especially in the States.

BTC wallet deposit address for more speculative higher risk investments:   
1HannaheRa46n6g532kRo9GmnmD5aLUt5j


Litecoins 

Any donations to LYePkf5doYjtVfWGhY8TzBaBRxDmPQKpvT would be most appreciated, many thanks.



Additional funding methods

Via my PayPal account, just click on this donations button below to use credit/debit cards via PayPal.


Short link to this site's Home page here: www.otoh.net

For more info on virtual currencies see the DIY page & Litecoin Info links & the latest Screen Shots page for current news & developments.

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