I am in the low low part of the btc owners, and am far far away from owning 1 btc, and most probably will newer own one full btc. But i cought myself having an urge to give btc to my friends. I started with those that are more or less technology literate. And i am not even sure will they manage to not lose it :)
First i got an opendime, you get 3 of them in a pack. They look great, and are a nice gift. And i must say that my first ever btc gift to my best man son first birthday is doing great. 70$ btc in August are looking good at the moment. I gave one to my sister, and one i left for me.
As i said opendime is great for a gift, but when they cost as much as the btc on them it is a bit pointless for me, i would rather give more btc then. And one opendime with shiping is around 20$. In my country it is a decent sum. So to give 10-15$ of btc i had to find some other way.
LET ME NOW SAY, THIS IS NOT A SMART THING TO DO, AND IF YOU WANT TO HODL BTC YOU SHOULD MOST PROBABLY NOT DO THIS IN THIS WAY, BUT I FIND THE SUM SMALL ENOUGH TO ACCEPT THE RISK.
As someone who had no idea how that exactly works, in the end i found creating paper wallets really easy. Yes the rule is, download the "software", go offline, make an wallet on a computer that you can guarantee that it was not compromised, print it on the printer that is not and will not be online and somehow try to make sure people that get the paper wallet does not lose it.
Maybe the easier rout would be just making them download a mobile wallet and just transfer it to them, but i kinda want for them to make an effort to learn a bit about it. Will they make a mistake, most probably. Is them learning stuff worth the risk of loosing 15$. I don't know. maybe.
If i feel like this now, i can't imagine how would i feel if i entered the space in 2014-2015 and had few or more BTC :D
So am i the only weird one that have the urge to give away BTC?
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Great present to give. I did this some years back with some LTC but made the mistake of leaving their stake on the cryptopia exchange, which later got hacked and burned to the ground 🤭
well that sucks.
opendimes i do hope will survive for some years, i am not sure about paper wallets :D
I haven't had any give away in crypto ever. Despite investing in crappy coins which is to some extent a giveaway as I am giving away precious money :))
Does anyone still do that? I have never took such safety measures, but the truth is I don't even own much crypto.
Posted Using LeoFinance Beta
they say you should, and it is a smart thing to do, but they also say paper wallet is not that smart thing in the age of hard wallets.
they also say go to hard wallets when you have the amount of crypto that you will cry about if it gets stolen :D
I hope mine won't be stolen but I don't have much at all to even bother with that much security. I know folks who have been storing it on Poloniex for years and it's safe.
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i got a trezor one few weeks ago. it was more to see how that works. if this is the future, it is good to learn :)
I was thinking that if ledgers can be hacked, what's the point anymore...
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from my understanding, ledger was not hacked, as the wallet. they lost personal info of their costumers. they were collecting names, addresses to send the product, phone numbers. you still need to send your "password" to someone so he can access your wallet. they just got the list so it is easier to ask for it :D
That is correct understanding. The wallet itself was not hacked, the privacy of the owners was under threat:
https://hive.blog/hive-167922/@lighteye/bitcion-the-greatest-hardware-wallet-problem-eng-srp-bitkoin-najveci-problem-vlasnika-khardverskikh-novchanika
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Easier is not always good. Here is my suggestion: The true problem is how to teach people personal responsibility of holding their keys. Paper wallets are the best tool in that sense. Make two copies, give them one paper wallet copy with $10 and explain to them how to hold it, and how to spend it. Now, let them see how those $10 on a paper wallet grow. For example, $10 in a paper wallet in May 2017 would now be somewhere around $140.
If they lose their wallet, you will be able to teach them a lesson and give them your copy so they are not at the loss.
And I really do appreciate your educational efforts…
till now i did it to people that have some above average tech understanding, and i explained the basics. i thought it will be interesting for them to do a bit of the research.
"This is your key, don't use it anywhere until you want to sell or move, take care of this paper"
Joked with one of them, that this is a contest of who will lose their keys first :D