why didnt you give him bitcoin as the present?

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I know this guy too well, he would have lost it.

Jokes on him, I already set some aside for his kids that I'll hold for them.

Since you're taking custody of the coins for his kids, these automatically become not-bitcoin.

Correct they only have an iou from me that I could rug

But to me it's bitcoin 😂

Time locked BTC might be an option in this kind of cases no?

I gave someone bitcoin as a gift. He never backed up his wallet even though I told him to do it 3 different times. His phone got stolen. Now when I gift bitcoin I make them back it up in front of me or they get nothing.