Jan 03 - Proof of Keys Game

This year I set the kids a challenge to teach key management :)

1. We create a brand new bitcoin seed each (12 words)

2. We deposit $365 of bitcoin to each seed ($1 a day)

3. Each kids has to secure these 12 words for 1 year from their parents.

4. If they can recover the wallet in 1 year they get the bitcoin as spending money.

5. If we (or anyone else!) discover it bitcoin gone, lessons learned.

Will do check ins every 3 months I think and I'll slowly add in various approaches to how to secure things as we go.

Oldest is 10 so this is serious money to them :)

They are very excited for this :)

#bitcoin #ProofofKeys

Reply to this note

Please Login to reply.

Discussion

Inspired by the recent podcast with nostr:npub1p4kg8zxukpym3h20erfa3samj00rm2gt4q5wfuyu3tg0x3jg3gesvncxf8 and nostr:npub1h8nk2346qezka5cpm8jjh3yl5j88pf4ly2ptu7s6uu55wcfqy0wq36rpev

โ€œWe should teach private key management in schoolโ€

https://pca.st/episode/d90befc9-c551-4a32-beec-9bfa037a1a6b

The most interesting things about this was handing my son a seed words and him saying

โ€œbut Dad.. this has the letters I and L in it. They shouldnโ€™t be there itโ€™s supposed to be base58โ€

I was quite surprised - lol

nostr:npub1vmpf90hq56wzyxht6teg3llpa74rzcepw9suj5unxl3tph24zd4qgtxhm7

Fun educational opportunity!

Wasnโ€™t sure I understood the funding part. Would avoid the $1 due to UTXO mgmt and fees, but I think youโ€™re saying $365 to represent each day. Awesome idea!

Your kids will have fun staying wealthy. HFSW

Nah weโ€™ll drop the money in today to avoid that.

Iโ€™d considered a โ€œfake seedโ€ via Alby Hub but this felt a little more real as they can do the recovery themselves at the end.

Love it!

5 years ago I took my kids to a bitcoin ATM just to show them the clunky process. Also explained how banks work and hours of operation, fees and withdrawal limits. It was a bit early for the younger ones but the teenagers picked it up. Finally gave them their plates this year. Amazing to see what became of a couple of $20 purchases.

I love this idea. What a great way to teach your kids about self custody. Do you think they would be able to learn how to prove they still have control of the keys?

As in signing messages?

Fairly certain they could but probably a bit much for them for now.

I think the moment they recover this to a wallet they own in a years time is going to be a mind blow moment ๐Ÿคฏ

If you feel like verifying signatures, I made this to support the process.

https://gatekeeper.certainkey.com/

Your certs need updating!

Woops, needs the ".au".

No

Why not?

Because I reject any propose mass doing of anything on chain for some experimental feeling good purpose that would expose the participants unnecessarily. Any group planned doing of a thing is a bad idea. Particularly when coordinated on social media

Well we didnโ€™t do a check in every 3 months but Iโ€™m assured they both know where the keys are ๐Ÿ‘€

nostr:nevent1qqsq4de3evw9fzcnl8djcnxmsdxs7pa4gn0r03ue2tazvwumejha0kqsgqtqd

Great idea. Will adapt and see how it goes.

Gm!

Brilliant!

Very cool! ๐Ÿ˜Ž

LFG! Love it