What is the best way? I'd consider getting Trezors, loading those with some sats and keeping backup keys if something would go wrong, but I bet there are other ideas out there? Installing them Sentinel, so they can at least monitor?

I don't expect they would start using it for their day-to-day (I can separately get them on Muun), but my question is for longer term, bigger amount investment.

3 sats \ 0 replies \ @ugmug 23 Oct

I'm interested in this as well since I need to get my mom's corn off Coinbase. I've been thinking about a Trezor for this too since having a nice UI should make it easier to understand what is going on. I would still have her back up the seed phrase in steel of course.

reply
2 sats \ 1 replies \ @falsefaucet 24 Oct

Got my mother setup on Muun just for the convenience of it.

She just was tired of the shitty interest rate she was getting so she threw 500usd at me and I gave her 1M sats(mom conversion)

Anything is better than nothing, and of course as the amount of sats goes up. Different security models need to be available.

reply
1 sats \ 0 replies \ @nout OP 24 Oct

I like the Muun idea definitely, but I want to make sure that the solution survives them losing or breaking their phones, so that's where hardware wallet may be a good solution. But I'm still missing multiple things there, like good guidance for what to do with it, how to monitor the price, where and how to hide it and back it up, etc.

We can definitely do a steel backup, have lathe available and have 3D printer available too. So I'm thinking that would be part of the story.

reply
2 sats \ 0 replies \ @g4ala 23 Oct

I don't know that what is in this Podcast is "the best way", but it's one way and covers other related topics.

SLP265 Diverter – Becoming Uncle Jim: Being Digital Sherpa for Family & Friends

The bio... Diverter joins me on the show to talk about our modern world of surveillance and reliance on third parties. We chat about learning to be a ‘digital sherpa’ for your family and friends.

  • Dealing with “I don’t have anything to hide”
  • Password managers
  • Nextcloud
  • Yunohost
  • Self hosting
  • Bitcoin

Diverter links:

reply
1 sats \ 4 replies \ @relc 24 Oct

Paperwallet with copies or opendime.

reply
1 sats \ 3 replies \ @nout OP 24 Oct

I need to set them up end-to-end, so they would actually be able to spend if needed. If I just give them paperwallet, they will have no idea what to do with it. How would the experience look like with opendime?

reply
2 sats \ 2 replies \ @relc 24 Oct

Opendime is like a paperwallet with usb port. You have to destroy it to spend or sell the opendime with the coins on it.

Your concern is always valid. When we gave away paper wallets or opendime we would alwas put two names of trusted people to contact in case of spend.

Handling pirvate keys is alwas a issue.

A Friend of mine bought 2 Bibles. He marked 12 random words in the bible. In the copy he did exactly the same. He told his parents. There is BTC in the Bible and the other Bible is a copy. Do not tell anyone. You need one Bible to spend. If you lose one Bible you have to contact one of your kids. If you want to spend contact one of your kids.

Bitcoin steel wallet also makes a nice present. Help to spend may always be needed.

reply
2 sats \ 1 replies \ @nout OP 24 Oct

That makes sense, I think it really depends on what are the capabilities of the folks. In my situation they are able to control computers and mobile phones quite easily, but may be prone to phishing or social engineering attack.

reply
23 sats \ 0 replies \ @relc 25 Oct

We gave away paperwallets for Xmas. Offline PC offline printer. After printing the wallets we laminated them and put 1g of gold inside on top. There was like the same ammount of gold as BTC on the thing at the times. We wanted a way to take the technical aspect away into a physical space. The fun thing we recognized is when you put 1g gold on a paperwallet people use to store it more secure and remember where they have it. Also they seem to understand more about the fact that a paperwallet should not be exposed to other people. We learned that everytime they got news about bitcoin or were to give their thaughts about bitcoin they did not have a nocoiner view of things.

For us we think it is to early to get them a lightning wallet on a mobile setup because they are used to fiat and it works for them for now.

The thing about electronical hardware wallets like ledger is we have very little experience on that because we think adding complexity to a secure and base system does not solve a thing. The rule of thumb was like is the person capable of setting up a operating system on a computer. If yes he can defend against key loss or scams himself. If not here is your paperwallet do not lose it. Good luck!

reply