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If you at a bitcoin Parent…..
557 sats \ 5 comments \ @02e2d377ee 12 Jun 2023 bitcoin freebie
I personally am a 43 yr old father of an amazing 8yr old boy. I got him a jade hww and am stacking strictly no-kyc Sat’s on it, I’m your average pleb and want him to halve a little something when he turns 21 or so. I run a side hustle and get his sats p2p exclusively. Does anyone else have a child they are stacking for?
What is the best practice for ensuring he gets his corn if I were to pass away or something happens to me?... I have his seed secured on SS M8 Fender washers + Hex Nut & Bolt. Aside from his mom knowing where the seed is located what do you recommend as far as ensuring he gets it someday? For context mom doesn’t know much about Bitcoin but knows that the most important thing is what is stamped in metal & not the device itself. It’s single sig, nothing fancy just an air gapped jade and SS seed storage. I’m not rich so I just add no kyc p2p Sat’s via my side hustle once or twice a month. Any advice from anyone doing the same?
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20 sats \ 0 replies \ @mudbloodvonfrei 12 Jun 2023
Start educating him about money (bitcoin) now. This way you can reveal the location at a much earlier age, with him knowing that you expect him to wait till he's 21 to take possession.
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10 sats \ 0 replies \ @2bithits 12 Jun 2023
Sounds good
Maybe think about using a passphrase with the seed. 15-20 years might have some big advances in ways to hold a seed, so look to upgrade when the time comes
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0 sats \ 0 replies \ @kepford 13 Jun 2023
You are doing great, thanks for sharing.
I shared my thoughts on this a while back.
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0 sats \ 0 replies \ @TSW 12 Jun 2023
Two-week proud father since block 791798 here :). If life goes as planned, we hope two have two kids, so I started saving bitcoin for them simultaneously to ensure equal stacks.
How I do it as of now:
  • Buy monthly on-chain
  • Read-only wallet in BlueWallet/Blockstream Green for monitoring, I don't have a HW device per kid
  • HW device: Blockstream Jade + SeedQR so that I can easily import the wallet with a QR scan (https://help.blockstream.com/hc/en-us/articles/10694829024537-How-do-I-use-SeedQR-)
  • Consolidate in >1M sats UTXOs to avoid unspendable UTXOs in a high fee environment
  • Backup: 2x single sig seed & passphrase. If you have trusted family members/friends then you can store a backup at their place in case your own backup is lost. To reduce the risk you can give one person the seed and another the passphrase. They don't have to know this about each other, as long as they know that they need to search for the person with the other part of the private key in case something bad happens to you
  • Adulthood is at 18 here, so I might hand it over at that time, but that also depends on the child's maturity. I can foresee managing it a bit longer but helping them out.
When the price and/or fees increase, I will start buying on layer-2 before consolidating at the base layer. At some point, I will stop using layer-1 for adding sats as it will be too costly, then I will move to layer-2, such as Lightning.
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0 sats \ 0 replies \ @DarthCoin 12 Jun 2023
Is good what you are doing. Keep going.
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