Oddbean new post about login | logout How would you set up a trustless process to buy a small amount of bitcoin ($10-$20) monthly to hand to someone in 16 years? Challenges: Avoiding hardware signing devices Avoiding/limiting manual processes monthly Avoiding co-mingling of personal sats and gifted sats Avoiding the password/keys being in the custody of the parental guardian of the receiver (a toddler) Avoiding economically unspendable UTXOs and UTXO management frequently Would like for this to be automated. This would be for a God-parent to gift to God-children when they come of age. Could you use lightning via Strike and zaps with a Nostr private and public key pair? How would you do this?
put $2500 worth of it now one time and forget it then pay yourself back $20/month
Check @Azteco
Wouldn't this create economically unspendable sats at a certain point in the future? If you bought a $10 voucher every month for 192 months, and the price of Bitcoin had increased during that time, the fees go up and moving this stack of 192 UTXOs would incur enormous fees?
I think they have lightning. In 192 months I also think we’ll see more competition on scaling layers with e-cash and things we dont know about yet
Oddly specific...
16 years. The kid is 2 years old.
Oh! My bad. Missed that detail.
18 years old as a milestone is a bit statist but that's what the person asking me wanted to do.
I'd hadn't read through the entire thread, and misinterpreted your comment as saying that more competition on scaling should take place in 192 months. I went back and got caught up. Derp. https://image.nostr.build/3fee9e64e929c118e9f574c2524e3b5ec74e3b22b8bb81c4324948b56d3bb166.jpg
Would be also interested in a good answer to this #helpstr #bitcoin4toddlers nostr:nevent1qqsw6kpn20gddxhlk6r00s2a0x077c299lg2zwck299zpf0g7pu8v9qpzpmhxue69uhkummnw3ezumt0d5hsygpfgkpph6t39c259fcx9h4awkn2yc3hck7r8nu80n3v8t6x6spxhupsgqqqqqqscz02fe
Similar situation for me. My approach will most likely be: 1. Buying a Card Wallet (40 bucks) - https://www.cardwallet.com/en/home/ - would take it into custody until the child is old enough 2. Choosing a Bitcoin exchange with auto wallet transfer, e.g., 21bitoin https://21bitcoin.app/en/feature/auto-wallet-transfer - setting it high enough to avoid unspendable UTXOs (few hundred bucks?) - connecting to Card Wallet 3. Monthly DCA of 10–20 bucks Thus, I have my normal DCA and everything else is automatically done. I only have to store the Card Wallet safely. Any thoughts on that @ONBRINK?
