What about letting them earn it. It is also old school. If I want to teach my children the WaliÄ™ of work I should pay them with the money that stores the value.
One of the most over-complicated topic in Bitcoin is
>> INHERITANCE <<
I know what you think: vaults, multiple keys, collaborative custody, multisigs, storage fees, new OP codes (🤢), yada yada...
But what ever happened to doing it the old way?
Wouldn't it be more skin-in-the-game way to just SELL your bitcoin to your kids? Don't spoil your progeny with unearned gifts of your low time preference. Sell them. At a discount if you want, but transact!
Watch them accumulate, see them lose, enjoy seeing them appreciating it, make them improve custody, sat by sat.
Simply put, just become a Dad Bank.
Thank you!
Kudos to nostr:npub1vjqenty8jphj9039yghlhgr6xvp8thtvmwypmrfrg3je0z6djsws6z7z70 for becoming one and inspiring me.
All right, good night 🌙
#DadBankOrBust #Inheritance #Bitcoin #Friday
Discussion
Yup, this is the way :)
They do get preferential treatment in terms of exchange rate (usually pay them slightly more sats than market price - rounding up) but I also try to teach them unit of account concept - for example - if I sell them some sats (like for euros they got for birthday) but my hot wallet is currently empty, I ask them to note down the amount in sats and come back in a week or something and remind me how many sats I supposed to send them. Works better in bull market, true, but the lesson learned is that 21k sats is still 21k sats.