BITCOIN AS GIFTS FOR TEENAGERS - page 2.

HCP

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Note that sat2.io is utilising "Lightning Network"... not necessarily a problem, but something to be aware of. These transactions are generally "off-chain"... and really designed for "small" amounts.

Also, check out BlueWallet here: https://bluewallet.io/

I've used BlueWallet, it's not too bad. Probably worth checking out for your purposes. Wink

Note: When/If you eventually want to withdraw the bitcoins to a "normal" Bitcoin wallet, it will create an "on-chain" transaction... unfortunately, BlueWallet doesn't currently actually have a withdraw feature implemented, so you need to use an "exchange" (they currently redirect to zigzag.io).

WZBcoin

copper member

Activity: 33

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Quote from: ncoelho on May 10, 2020, 09:49:25 AM

use sat2.io, gives you a link people can redeem in bluewallet

This looks cool and awesome, really easiest way to get them onboard. How does it works no detail information on the website. Can you tell me more or any reference for detail inforamtion on how it works. I CAN'T WAIT TO TEST THIS.
Many thanks

ncoelho

newbie

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use sat2.io, gives you a link people can redeem in bluewallet

WZBcoin

copper member

Activity: 33

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Quote from: HCP on May 08, 2020, 10:33:34 PM

Quote from: WZBcoin on May 08, 2020, 09:12:18 PM

The BRD wallet is the most interesting to most of the tenenagers but the transaction fees is high. Taking into consideraton that they are receiving small amount of bitcoin. There is an instance where the transaction fees was more than the 0.0005BTC that was a consolation prize to the participant.
"BRD: IMPORT WALLET: Transaction fees would cost more than the funds available on this private key"

I suspect that it might just be a case of "bad timing"™... with the BTC price nudging USD$10K, and the halving approaching... the network has become quite chaotic and very busy. As such, there are a LOT of transactions occurring and with that, a sharp uptick in fee rates Undecided

It is a little disappointing to see that BRD doesn't support fully customised fees... and only has a "Low Priority/Normal/Priority" system in place Undecided

Still, this could be treated as a learning opportunity to educate the recipients on how the bitcoin network works and how fee rates work with respect to the number of unconfirmed transactions and confirmation times etc.

Yes, the time was not very helpful but as you rightly put it is part of the learning opportunity.
I think it is a positive obstacle as it will allow preparation for future cases when the bitcoin is getting to the massive adoption stage and the price starts to fly up and goes mooning...

HCP

legendary

Activity: 2086

Merit: 4363

Quote from: WZBcoin on May 08, 2020, 09:12:18 PM

The BRD wallet is the most interesting to most of the tenenagers but the transaction fees is high. Taking into consideraton that they are receiving small amount of bitcoin. There is an instance where the transaction fees was more than the 0.0005BTC that was a consolation prize to the participant.
"BRD: IMPORT WALLET: Transaction fees would cost more than the funds available on this private key"

I suspect that it might just be a case of "bad timing"™... with the BTC price nudging USD$10K, and the halving approaching... the network has become quite chaotic and very busy. As such, there are a LOT of transactions occurring and with that, a sharp uptick in fee rates Undecided

It is a little disappointing to see that BRD doesn't support fully customised fees... and only has a "Low Priority/Normal/Priority" system in place Undecided

Still, this could be treated as a learning opportunity to educate the recipients on how the bitcoin network works and how fee rates work with respect to the number of unconfirmed transactions and confirmation times etc.

WZBcoin

copper member

Activity: 33

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The experiment is worth while so far, such that I've won attention of some friends around here to expand the scope and keep the ball rolling...
The BRD wallet is the most interesting to most of the tenenagers but the transaction fees is high. Taking into consideraton that they are receiving small amount of bitcoin. There is an instance where the transaction fees was more than the 0.0005BTC that was a consolation prize to the participant.
"BRD: IMPORT WALLET: Transaction fees would cost more than the funds available on this private key"
I had to withdraw back the paper wallet and send the coins directly to the participant BRD WALLET. Meanwhile, the blockchain wallet is also easy to setup and it has a low transaction fees. I am trying to make this the introductory wallet for them.
I want to encourage them to send coins between themselves, as a good practical usage, I think this is a good approach to achieve a good Peer to peer digital currency transaction...
I am going to focuss on blockchain wallet because of the transaction fees but I'll let them understand and be aware of the different between the cold storage and the hot storage etc...
Thanks for your contributions, I'll keep updating.
Best regards

HCP

legendary

Activity: 2086

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Quote from: Pmalek on April 26, 2020, 07:13:58 AM

All kinds of games, social media, porn, funny videos, and other links circulating around. All those find which friend visits your profile most often type of services are a great front to steal data, private info, etc.

It's like all those "Here are my answers, now copy to your timeline and post your answers!" posts that do the rounds on Facebook... and they ask questions like:

- Name of first girlfriend/Boyfriend
- Street where you lived as a child
- First school
- First Pets name
- Favourite Colour
- Mother maiden name
- First Car that you owned

etc etc... which all look like "Password Recovery Security Questions" or a commonly used password components... and you're tying it directly to your public facebook profile! Roll Eyes

It's basic social engineering... genius in it's simplicity.

WZBcoin

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Quote from: The Cryptovator on April 26, 2020, 05:29:59 AM

Quote from: joniboini on April 26, 2020, 01:02:28 AM

If you want to educate them from the bottom, then forcing them to create their own wallet is better.

Fully agree, that what I have tried to explain in my above post..I believe that would more beneficial if they could learn more about bitcoin technology rather than just received funds.

Quote from: bitmover on April 25, 2020, 11:37:57 AM

I think giving them the seed will force them to do some research and search the wallet on their own.
I have gave a few gifts to friends like this. Like 10 usd in bitcoin... I just gave them the seed which have addresses with balance.
It is a nice and good practice imo, as it will incentive people to make research about it and learn more interesting aspects of bitcoin

Again, I won't agree with you. Giving them seen will not force, but it is very easy step to send money. Forcing them to create their own wallet and teach them about wallet, seeds, private keys, hash, clients, change address and so on would be more beneficial as I said above. You just send 10$ to your friends but this isn't good practise. By this way they would misunderstood from the beginning. They might think their seeds could compromised with friends since you already know their seeds. Is this really good practice? I don't think so. Do right things with newbies to they will learn right. Share seeds wouldn't good practice ever either with friends or families.

I see your point. We need to invest more time in motivating joiners to learn by impulsing tehm to taking steps on their own as well, so we don't just limite all to giving out fund but to make them takes positive steps to explore the Blockchain potentialities. Great contribution Coolcryptovator! many thanks

Pmalek

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Quote from: joniboini on April 26, 2020, 01:02:28 AM

The OP can then send the coins to their address and remove the prize for anyone who doesn't make it in time.

I understand that it is quiz and I generally agree with your post, except the part which I quoted. Some users will find it more difficult to understand a new technology and they will need more time. Rushing them might lead to mistakes.

Teenagers, mobile phone security, and Bitcoins, all in one place. Somehow I am skeptical about this.
How many unknown apps does a usual teenager keep on his phone and what exactly do they do? All kinds of games, social media, porn, funny videos, and other links circulating around. All those find which friend visits your profile most often type of services are a great front to steal data, private info, etc.

WZBcoin

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Activity: 33

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Quote from: o_e_l_e_o on April 26, 2020, 04:56:39 AM

Quote from: ABCbits on April 26, 2020, 01:49:37 AM

It'd be great if you make guide how to create, use and secure the wallet as well, since people who just started use Bitcoin usually neglect security or backup.

This. I often see people asking for advice on how to gift bitcoin, and my answer is always that the first thing you should gift is your time - time spent with the other person teaching them how to set up their own wallet. Handing someone who has no idea about bitcoin a paper wallet or seed phrase is more than likely going to result in them misplacing/losing/damaging it, or making a mistake when trying to spend the coins and either having them stolen or sending them to a change address they can't access. A much better idea is the person learning the basics about wallets and general security, and then you sending them some coins to their own addresses. This also removes the third party trust aspect, in that the receiver of the coins doesn't have to trust that you generated the paper wallet securely and aren't secretly holding a copy of it yourself.

Quote from: WZBcoin on April 26, 2020, 04:33:16 AM

Yes, you are right, I USED bitaddress.org to creat the paper wallet, but created the wallets offline and cleanup the cache and elimate the history of the pc, before connecting back the pc online. I think that is secured.

Ideally, you should also have booted in to a live OS (such as a Linux distro on a USB stick) and generated the wallets there, rather than from your usual OS, and you should use a permanently airgapped device. You also need to make sure the printer you used is airgapped, and you have wiped its cache/memory too.

Many thank O_E_L_E_O !, for your contribution. I really like that of using airgapped device. I will surely adopt that as good practice.
Best regards

The Cryptovator

legendary

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Signature space for rent

Quote from: joniboini on April 26, 2020, 01:02:28 AM

If you want to educate them from the bottom, then forcing them to create their own wallet is better.

Fully agree, that what I have tried to explain in my above post..I believe that would more beneficial if they could learn more about bitcoin technology rather than just received funds.

Quote from: bitmover on April 25, 2020, 11:37:57 AM

I think giving them the seed will force them to do some research and search the wallet on their own.
I have gave a few gifts to friends like this. Like 10 usd in bitcoin... I just gave them the seed which have addresses with balance.
It is a nice and good practice imo, as it will incentive people to make research about it and learn more interesting aspects of bitcoin

Again, I won't agree with you. Giving them ~~seen~~ seed will not force, but it is very easy step to send money. Forcing them to create their own wallet and teach them about wallet, seeds, private keys, hash, clients, change address and so on would be more beneficial as I said above. You just send 10$ to your friends but this isn't good practise. By this way they would misunderstood from the beginning. They might think their seeds could compromised with friends since you already know their seeds. Is this really good practice? I don't think so. Do right things with newbies to they will learn right. Share seeds wouldn't good practice ever either with friends or families.

o_e_l_e_o

legendary

Activity: 2268

Merit: 18771

Quote from: ABCbits on April 26, 2020, 01:49:37 AM

It'd be great if you make guide how to create, use and secure the wallet as well, since people who just started use Bitcoin usually neglect security or backup.

This. I often see people asking for advice on how to gift bitcoin, and my answer is always that the first thing you should gift is your time - time spent with the other person teaching them how to set up their own wallet. Handing someone who has no idea about bitcoin a paper wallet or seed phrase is more than likely going to result in them misplacing/losing/damaging it, or making a mistake when trying to spend the coins and either having them stolen or sending them to a change address they can't access. A much better idea is the person learning the basics about wallets and general security, and then you sending them some coins to their own addresses. This also removes the third party trust aspect, in that the receiver of the coins doesn't have to trust that you generated the paper wallet securely and aren't secretly holding a copy of it yourself.

Quote from: WZBcoin on April 26, 2020, 04:33:16 AM

Yes, you are right, I USED bitaddress.org to creat the paper wallet, but created the wallets offline and cleanup the cache and elimate the history of the pc, before connecting back the pc online. I think that is secured.

Ideally, you should also have booted in to a live OS (such as a Linux distro on a USB stick) and generated the wallets there, rather than from your usual OS, and you should use a permanently airgapped device. You also need to make sure the printer you used is airgapped, and you have wiped its cache/memory too.

WZBcoin

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Quote from: bob123 on April 24, 2020, 05:57:28 AM

Quote from: WZBcoin on April 24, 2020, 05:36:24 AM

I love that of creating a properly generated, bip38 encrypted paper wallet.

Please make sure to NOT use any website for that.
Doesn't matter whether offline or online. This is bad practice.

Preferably use some open source software/script to generate them (e.g. use your operating systems RNG to create a private-/public keypair or just use electrum).

With small amounts it probably wouldn't matter too much whether they get stolen or not, but its always better to not use a website.

Yes, you are right, I USED bitaddress.org to creat the paper wallet, but created the wallets offline and cleanup the cache and elimate the history of the pc, before connecting back the pc online. I think that is secured. Please don't hesitate to let me know it that methos has loopholes, I followed some guide made in 2004.
Meanwhile, I will be adopting a more motivational method that will encourage the participants to create their own wallet as recommended by some other contributors.
Thanks for your contribution

WZBcoin

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Really appreciate all the contributions.

JONIBOINI is really right in that observation, any method that allow 3rd parties control of the BITCOIN plays down the PURELY PEER TO PEER OBJECTIVE, I will work towards eliminating that in a bitcoin specialized quiz like CRWTH recommended.

Great recommendation from HCP! BRD is very interesting, I will make a small video on howtodo for them.

Thanks BITMOVER, I will adopt the seed methods for the specialised quiz for BITCOIN QUIZ (CRWTH recommendation).

Many thanks ETFbitcoin you rightly summarised the best options, I will work on them and keep you all informed about the progress.
I really appreciate all the support and recommendation, together we can carry along the younger generation. Best regards

ABCbits

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Crypto Swap Exchange

If assuming they never used Bitcoin previously, it'd be better to advice them to use Electrum (PC), Mycelium (Android) or Bread Wallet (iOS).
Bitcoin Core and Armory requires you to download hundred GB of Bitcoin blockchain. Wasabi and Samourai are good option for those who want better privacy, but it's slightly more difficult to use than wallet i mentioned on 1st sentence.

It'd be great if you make guide how to create, use and secure the wallet as well, since people who just started use Bitcoin usually neglect security or backup.

crwth

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https://linktr.ee/crwthopia

What if you have started another online quiz, not the sports kind, but the cryptocurrency knowledge type of quiz. Then maybe as part of their test, create their wallet? This would be educational for them and start them young with these types of investments and the important part is "Why should they do it?".

Preparing the young generation with these types of exposure would probably be beneficial for all of us. You will never know, but there could be another invention that would make things easier just because of technological exposure.

joniboini

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If you want to educate them from the bottom, then forcing them to create their own wallet is better. The OP can then send the coins to their address and remove the prize for anyone who doesn't make it in time. Everyone should know that you have to make your own seed and not accept it from somebody else. Who knows what will happen in the future if they keep that practice, they could get scammed. Even OP can scam them if they have bad intentions by transferring the money here and there and say "oh we don't know, maybe your phone or computer got a malware" and it will be difficult for those guys to prove who the theft is.

bitmover

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bitcoindata.science

Quote from: The Cryptovator on April 25, 2020, 05:27:33 AM

Quote from: bitmover on April 24, 2020, 07:15:19 AM

You can just give them the SEED (12-24 words) and suggest them a few wallets to access their coins.

I disagree with it. They should learn to open an non custodial wallet since they are already teenagers. Sending them SEED wouldn't a good practise. If they aren't encouraged now then they will face problem near future to use of bitcoin and wallets.

I think giving them the seed will force them to do some research and search the wallet on their own. They will choose the wallet that fit their needs.

Giving them the seed is the same of giving them a paper wallet. For small amounts there is no problem at all.

I have gave a few gifts to friends like this. Like 10 usd in bitcoin... I just gave them the seed which have addresses with balance.

It is a nice and good practice imo, as it will incentive people to make research about it and learn more interesting aspects of bitcoin

Additionally, as electrum has no iOS support there might be problems for many of those teenagers.

Coinomi or Samourai might be a better choice.

HCP

legendary

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Quote from: WZBcoin on April 25, 2020, 06:47:09 AM

Mycelium is not very interesting because of tha lack of support for the iOS version.

Quote from: ?? on ??

OK Coolcryptovator, many thanks, I'll work on the ELECTRUM.

Just FYI, Electrum doesn't have an iOS version either... Undecided

If you absolutely must have an Android and an iOS solution and you'd like to keep it simple and use the same wallet on both platforms... maybe check out "BRD" (formerly known as "Bread") wallet... it also supports scanning QR codes to import paper wallets.

WZBcoin

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Quote from: amishmanish on April 24, 2020, 06:12:30 AM

Really nice of you organizing a competition and using BTC as gifts. Most teenagers would be using a smartphone for such things. The idea of a paper wallet and telling them to sweep is a good one for the educational purposes as suggested by Mocacinno.

Though if your target is to provide a basic introduction then there are mobile wallets available with multiple features like exchanges, NFT-trading etc. One of these that I have used personally used is Enjin wallet. It allows importing using BIP38 as well as Mnemonics. It also supports things like blockchain badges which was used by Microsoft for Azure developers.
Its a neat addition and would be interesting to teenagers who tend to like beautiful interfaces and creativity.

PS: This isn't a promotion. I just happen to use Enjin as i was interested in the blockchain gaming phenomena.

Thanks you AMISHMANISH. Great idea, I will check on the ENJIN, very interesting. Best regards

Quote from: bitmover on April 24, 2020, 07:15:19 AM

You don't need to distribute Bitcoin with the software.

You can just give them the SEED (12-24 words) and suggest them a few wallets to access their coins.

I would suggest mobile wallets, as any teenager will have a mobile phone.

Electrum, Mycellium, Samourai and Coinomi are easy to use and they have a mobile version for both Android and iOS.

Many thanks BITMOVER, nice options. The electrum wallet had issues while trying with android but the Samourai is really very interesting.
I am very happy for the recommendations.
I'll be given out the priz in Paperwaller and will guide them on setting up their mobile wallets. Samourai is really fantastic, I will continue to explore other mobile wallets.

Quote from: HCP on April 24, 2020, 07:33:35 PM

If you're checking out mobile wallets and giving out paperwallets... Then I would recommend that you have a look at Mycelium (note: Android only, DO NOT use the iOS version of Mycelium, it hasn't been updated in ~3 years)

It has a lot of features builtin to deal with paper wallets (specifically, QR Code scanning etc). It makes it super easy to scan the private key from a paperwallet and sweep/spend the funds.

Many thanks, since the programme is going to be for long term. I'll be testing various wallet. Mycelium is not very interesting because of tha lack of support for the iOS version.

Quote from: The Cryptovator on April 25, 2020, 05:27:33 AM

Using paper wallet quite risky for newbies especially during make first transfer regarding change address. So better option I will suggest about install Electrum.

OK Coolcryptovator, many thanks, I'll work on the ELECTRUM.

Topic: BITCOIN AS GIFTS FOR TEENAGERS - page 2. (Read 791 times)