pull down to refresh
733 sats \ 3 replies \ @0fje0 24 Apr 2023 \ on: Bitcoin and my kids - A perspective from a father bitcoin
My own children sold all of their bitcoin when they experienced the first bull run. Since they bought it from me with their own money and made a handsome profit, I didn't try too hard to talk them out of it. Relationships are more important.
However, on my grandchildren's 1st birthdays, I buy them each a couple of solar cells in a project that pays a monthly rental income for every kWh produced by their solar cells - in bitcoin. It's a 20-year contract and the rental income is adjusted annually by CPI+2%. Provided the solar management company survives (which I don't take as a given, btw), it effectively means my grandchildren are dollar-cost-averaging into bitcoin for 20 years.
Yes, unfortunately it's both custodial and KYC. The solar management company and I are the custodians, but I withdraw earnings regularly to cold storage on behalf of the kids, in case the company disappears.
It's been running for few years now so the earnings are still modest, but eventually I'll have to ensure that the kids know how to take custody of their own solar generated bitcoin. They're still toddlers...
This is pretty interesting, do you mind sharing the company name? Thing that scares me about this however is it seems kind of like the business model Cloud Mining services use, but I dont really know much about it so this is my initial impression and maybe not justified. Do you CoinJoin upon withdrawal to your own wallet or anything to create some privacy? Funny thing is that we need to make wallet management easy enough that toddlers can do it :), at least that is where many normies skill levels are at haha
reply
There's no mining involved.
reply
deleted by author
reply