an empty paper wallet will not affect anything including the bitcoin price, it is just a wallet without assets. any number of empty wallets will have no effect. if you receive an empty wallet just ignore it, but if you want to donate you can transfer your assets.
Just ignore it if someone keeps sending empty wallets to protect your privacy.
Topic: Everyone will receive a paper wallet in their post. Then what? (Read 216 times)
January 10, 2022, 10:40:01 AM
I have one question for you:
What will happen to the bitcoin price when everyone starts receiving empty bitcoin paper wallets with everything they get on the post?
You can always put a paper wallet in my mailbox. I will welcome it.
- remotemass
What will happen to the bitcoin price when everyone starts receiving empty bitcoin paper wallets with everything they get on the post?
You can always put a paper wallet in my mailbox. I will welcome it.
- remotemass
Not a good idea and the majority of the people will agree to it. It will create more spam and most people will just delete that email which they are unable to understand. By the way, a paper wallet is an out dated technology and it is now replaced by hardware wallets. Does anyone still uses a paper wallet in 2022
January 10, 2022, 10:26:29 AM
If this would happen on a truly large scale, like covering 60-80% of the population, then it would probably cause a small temporary downside movement, because it would be a negative event - someone sending people empty wallets, hoping that they would use them and steal their coins/
Not to mention the glaring privacy implications. If the person/company/government/etc who sent the paper wallets kept track of which wallets were tied to which physical postal address, they could easily tie real world identities to Bitcoin users and monitor which people were using it.
January 10, 2022, 09:29:11 AM
What will happen to the bitcoin price when everyone starts receiving empty bitcoin paper wallets with everything they get on the post?
If someone give me an empty paper wallet, I should throw it away because if I keep it, I might forget that it is a wallet which is not created by myself. Then if I send my Bitcoin into that wallet to store, I am facing risk of steal.I don't know what will happen with my Bitcoin in that wallet. I meant in such cases, there are at least two people will own private key, me and the person who gave me that paper wallet.
So if anyone want to use a paper wallet, create it by his/her-self, on offline or best air-gapped computer
[Guide] Secure air-gapped crypto wallet storage method
January 10, 2022, 09:11:21 AM
What will happen to the bitcoin price when everyone starts receiving empty bitcoin paper wallets with everything they get on the post?
People have a habit of throwing unimportant mail without opening it, and it seems to me that 80% of people would throw that paper in the trash - so nothing would happen, maybe people would just be angry that someone delivers such things to their mailbox. On the other hand, if the wallets weren’t empty, some might try to figure out how to cash in that paper wallet.
If you have some extra BTC, do an experiment and surprise your neighbors
January 09, 2022, 01:37:06 PM
COOL:
But people would be more aware, no?
- remotemass
But people would be more aware, no?
- remotemass
There aren't too many people who dont know about Bitcoin, I guess if you are a
hater a paper wallet wont change your mind.
Maybe just maybe the paper wallet in the post would prompt people to use it and
buy some Bitcoin but it would have a limited effect.
Anyone who uses at least a Revolut account can buy Bitcoin there, the younger
generation will not want the hassle of dealing with paper and passwords and storage,
they want convenience, thats what Revolut provide.
January 09, 2022, 01:18:31 PM
This would be extremely weird, not impossible for sure since people already use posts to deliver very important stuff but then again, what if they get lost/stolen/unaccounted for? See the thing is people use post because at the end of the day they have no better options, therefore you, using a paper wallet would mean you have no other option, but guess what? You do! You do have other options here and you can very easily use a hardware wallet or even download one in a matter or seconds, use an online one or numerous other ways to send/recieve the bitcoins. It would not make more aware, it would actually only be use by very small percentage of people and that too would be taking quite a risk, if they sending huge sums in the paper wallets.
January 09, 2022, 10:44:12 AM
I have one question for you:
What will happen to the bitcoin price when everyone starts receiving empty bitcoin paper wallets with everything they get on the post?
You can always put a paper wallet in my mailbox. I will welcome it.
- remotemass
What will happen to the bitcoin price when everyone starts receiving empty bitcoin paper wallets with everything they get on the post?
You can always put a paper wallet in my mailbox. I will welcome it.
- remotemass
If people already know that the paper wallet is empty, for sure they will throw it right away because it is useless and has no value. But if people don't know that it was an empty paper wallet, I think they will try to find out first if there is bitcoin inside and after they found out the reality, for sure they will be disappointed and irritated by you who sent those empty bitcoin paper wallet.
January 09, 2022, 10:19:09 AM
If this would happen on a truly large scale, like covering 60-80% of the population, then it would probably cause a small temporary downside movement, because it would be a negative event - someone sending people empty wallets, hoping that they would use them and steal their coins/
This is what exactly I'm thinking if there's a newbie who has received the empty Bitcoin paper wallet and due to curiosity, a newbie will use it to receive the Bitcoin purchase(or come from somewhere else) even it's a small amount it can be touched the demand and supply principles where Bitcoin price determines the value. It sounds like a trap to all naive newbies who didn't have knowledge about Bitcoin and they become a victim of fraudulent but if the old member received it, for sure they will check first and ignore it, how can you put your valuable crypto assets if you don't have a key (which is always remembered the golden rule ''not your key, not your coin'')
At this point, the Bitcoin price will surely move the price and I think that's not big enough to shake the entire market not unless if every wallet will receive 5 Bitcoin.
January 09, 2022, 09:15:27 AM
I have one question for you:
What will happen to the bitcoin price when everyone starts receiving empty bitcoin paper wallets with everything they get on the post?
You can always put a paper wallet in my mailbox. I will welcome it.
- remotemass
What will happen to the bitcoin price when everyone starts receiving empty bitcoin paper wallets with everything they get on the post?
You can always put a paper wallet in my mailbox. I will welcome it.
- remotemass
How would receiving an empty paper wallet impact the bitcoin price? There's no way! Bitcoin price is usually determined by the market demand. So having millions of paper wallets wouldn't affect the price in any way!
Also I wonder what is the benefit of sending paper wallet to people? What's the use of it as it will pose a significant security challenge. No one with a little knowledge, wouldn't even use that!
January 09, 2022, 08:24:27 AM
So all it'll do is make them send it to spam. On the other hand, attach a few LN Sats to the address and maybe make it into an NFT or something, and then people may notice.
You can't attach LN sats to an address if an address doesn't have an open channel. And intoducing people to Bitcoin through NFT is like introducing people to physics with flat Earth theory.
What will happen to the bitcoin price when everyone starts receiving empty bitcoin paper wallets with everything they get on the post?
If this would happen on a truly large scale, like covering 60-80% of the population, then it would probably cause a small temporary downside movement, because it would be a negative event - someone sending people empty wallets, hoping that they would use them and steal their coins/
January 09, 2022, 07:45:30 AM
COOL:
But people would be more aware, no?
- remotemass
But people would be more aware, no?
- remotemass
No one use paper wallet these days so there will be no benefit of sending paper wallets to people.
If on the other hand, the motive is to make people aware of the bitcoin, then you can send the link of an easy to understand video or article which explains the basis of bitcoin in an interesting and easy way.
January 09, 2022, 02:26:55 AM
I have one question for you:
What will happen to the bitcoin price when everyone starts receiving empty bitcoin paper wallets with everything they get on the post?
You can always put a paper wallet in my mailbox. I will welcome it.
- remotemass
A set of mnemonics and private keys with zero UTXOs on them is as interesting as something with a total set of 2^160 can be. It is so very abundant that nobody will pat attention.What will happen to the bitcoin price when everyone starts receiving empty bitcoin paper wallets with everything they get on the post?
You can always put a paper wallet in my mailbox. I will welcome it.
- remotemass
I doubt that anybody is interested in going through the technicalities of using a paper wallet randomly received in an e-mail.
So all it'll do is make them send it to spam. On the other hand, attach a few LN Sats to the address and maybe make it into an NFT or something, and then people may notice.
Probably 95% of the people will just throw away the paper wallets.The remaining 5% probably won't even bother using those wallets.
It's a weird idea,but I kinda get the point.
I remember that a few years ago,the national lottery in my country was sending free lottery tickets in people's mail boxes.
This has nothing to do with your example,but I get the idea from a marketing perspective.
The people will get something for free,which will get them hooked.
The problem with your idea is that the people will get some totally worthless for free,which won't work.
They have to somehow see the value in what they are getting for free.
It's a weird idea,but I kinda get the point.
I remember that a few years ago,the national lottery in my country was sending free lottery tickets in people's mail boxes.
This has nothing to do with your example,but I get the idea from a marketing perspective.
The people will get something for free,which will get them hooked.
The problem with your idea is that the people will get some totally worthless for free,which won't work.
They have to somehow see the value in what they are getting for free.
Curious on the first day, amused on the second day, and probably irritated on the third day? A paper wallet is simply like any other paper to the eyes of someone not in the know. Pretty sure anyone would be pretty damn curious if they suddenly got an additional paper on their mail, but would probably just throw it out honestly. It wouldn't really make them more aware, maybe aware that the one doing it should be reported, but awareness about Bitcoin? There's probably better ways than irritating people.
It is not just pointless, that's also the weirdest thing that you can do!
You basically waste paper to create something the receiver CAN NOT even use because it is empty so there is nothing to use and if they put funds in that key, you may already have the key and steal their coins. So the ONLY thing for them to do is to throw the paper away!
So essentially you are putting garbage in their mail box.
You basically waste paper to create something the receiver CAN NOT even use because it is empty so there is nothing to use and if they put funds in that key, you may already have the key and steal their coins. So the ONLY thing for them to do is to throw the paper away!
So essentially you are putting garbage in their mail box.
Forcing Bitcoin down people's throats especially when unsolicited is just going to most likely end up with them despising it. There are obviously far better ways in spreading Bitcoin awareness than spamming their physical mailbox.
Most people who will see it for the first time would probably just throw them into their trash bin. Even if they got curious and found out what it's all about, what would compel them to buy BTC? Let's also remember that there are more negative news shown in the mainstream media where these ordinary folks gets their information from.
When something empty is distributed to all who are posting here then the same thing will happen afterwards: empty or other word nothing at all. However, some people can be induced to maybe add something into their paper wallet...though there is no guarantee for that. At this Bitcoin dip time, we need more and more people to buy Bitcoin so as to change its bad trajectory course and can be back to upward growth ahead. But since this is more of a wish, maybe I am just imagining things.
COOL:
But people would be more aware, no?
- remotemass
But people would be more aware, no?
- remotemass
Nothing! Why should it affect Bitcoin price since it's empty? Can't we create an unlimited paper wallet right now? If people receive paper wallets with funds then the price would dump due to sale pressure. But not effect for empty. Bitcoin doesn't act based on how many wallets have been created, Bitcoin act based on funds movement.
So, nothing will happen.
So, nothing will happen.
I have one question for you:
What will happen to the bitcoin price when everyone starts receiving empty bitcoin paper wallets with everything they get on the post?
You can always put a paper wallet in my mailbox. I will welcome it.
- remotemass
What will happen to the bitcoin price when everyone starts receiving empty bitcoin paper wallets with everything they get on the post?
You can always put a paper wallet in my mailbox. I will welcome it.
- remotemass
Jump to: