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BTCapsule is an inheritance program I’ve been working on, and I would love to know what you think about it.

It’s written in Python and built for Android devices. You can buy a very cheap Android, and BTCapsule will function like a hardware "paper wallet".

It works by creating two paper wallets, and each wallet contains a raw transaction. The sender’s wallet is the one you will keep, and it allows you to redeem your Bitcoin at any time.

The receiver’s wallet can be copied to an SD card and given to your loved one. The raw tx is timelocked until the date you choose, and then the Bitcoin will be sent to their paper wallet.

This allows you to give your Bitcoin as an inheritance, while having full access to your Bitcoin at anytime. No multisig or third-parties are necessary.

Right now, BTCapsule is only available for Testnet, so you can use it on your current device without worrying about disabling the internet. You can get Testnet coins for free by searching “Bitcoin testnet faucet”.

I am unaware of anything else like BTCapsule, and your feedback would be much appreciated. Thank you nostriches 🙏🏻

https://btcapsule.com

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Discussion

tigs 2y ago

Thank you for building!

BTCapsule 🏴 2y ago

Thank you for sharing 💜

Steven Yang 2y ago

This idea sounds really cool! Will definitely check it out and give you feedback!

BTCapsule 🏴 2y ago

🙏🏻 thank you!

Tico 🇨🇷 2y ago

Cool! Would test.

BTCapsule 🏴 2y ago

Thanks! I hope you like it.

Code & Psychology ⚡️ 2y ago

Sounds an interesting concept! 🤙 Would see it in action!

BTCapsule 🏴 2y ago

I’m going to work on a video and add it on my website. I had a video of the old Windows/Linux version, but the Android program is much better.

Narwhal Tacos 2y ago

I think inheritance setups are a FUNDAMENTAL move forward in the next decade, and it sounds like this is a legit step in the direction of “simple is crucial”.

BTCapsule 🏴 2y ago

🙏🏻 I have seen many ideas for Bitcoin inheritance, but they all seem to involve third parties or multisig. I think multisig is a great solution, but I worry the holders of the other keys could conspire against you, or maybe require a hefty payment before giving up their key.

I like to trust absolutely nobody. BTCapsule is not the easiest program to use, but it’s MUCH easier than trying to make these transactions yourself. I hope people will find value in it.

Nackoo2000 2y ago

Consider this:

https://studio.youtube.com/video/pvSvv2Z9eDs/edit

Nackoo2000 2y ago

Oooops wrong lik=nk here is the right one:

https://youtu.be/pvSvv2Z9eDs

BTCapsule 🏴 2y ago

Hey I just listened to the interview, and you seem to have the exact same concerns that I have had. Thanks for sharing that! I listened to the first video you sent, but the second video says it’s private.

I wish you would have known about BTCapsule a few weeks ago 😂

BTCapsule does not require multisig or any third parties, so it is completely private. You create the transactions offline, give the inheritor their wallet, and nobody has to know this ever happened. If you change your mind or need your Bitcoin for any reason, you simply broadcast your own transaction and sweep the paper wallet into your own wallet. Otherwise, the Bitcoin will sit on the P2SH address until your inheritor broadcasts their transaction on the date you chose.

I think BTCapsule is exactly what you were looking for. Would love to know your thoughts about it.

Nackoo2000 2y ago

Here is the full interview. Now I am at work but I will read your things and reach out after.

https://www.youtube.com/watch?v=5EVhTaimlrI&t=1080s

BTCapsule 🏴 2y ago

Thank you! I look forward to discussing this with you.

captain ☦️ 2y ago

The best way is to spread your seed around

Nackoo2000 2y ago

I will see what you are doing. You can see why it is important for me now.

https://www.youtube.com/watch?v=5EVhTaimlrI&t=813s

₿lack Swan 2y ago

at a glance, immediate concerns relate to generation of the seeds (flaw in entropy) and storing the wallet on a flash drive (which have limited lifespans).

great concept though and appreciate the code is open source.

hopefully you can get some more eyes looking at it and reviewing the code / assessing from a security and risk perspective.

inheritance planning is one area that concerns me a lot so i applaud your effort! 🧡💜

BTCapsule 🏴 2y ago

Thank you for the feedback! If you’d like to know how the keys are generated, you can view the code below. BTCapsule uses the python-bitcoin-utils library, so all the information is there.

The receiver wallet is stored in a folder, and can be moved or duplicated to any storage device. You can buy a few flash drives and copy the folder to each one, and then after a few years, copy them to new flash drives or whatever storage options are available in the future. The receiver wallet is not as important as the sender wallet, because it’s impossible to get the Bitcoin before the timelock expires.

I will say that I don’t recommend timelocking the Bitcoin for longer than a few years. If the original owner is still alive, they can always sweep their Bitcoin before the timelock expires, and create new wallets for their heirs.

Here is the code to show how the keys are generated:

https://github.com/karask/python-bitcoin-utils/blob/master/bitcoinutils/keys.py

₿lack Swan 2y ago

guess i mean more from a randomness source perspective, as opposed to rolling dice etc.

definitely agree on the sweeping / creating new timelock every X years. suppose it is up to the owner to maintain some routine.

good work man, hope it keeps building traction!

BTCapsule 🏴 2y ago

When you use BTCapsule, you are literally using the Python script and running it from the Pydroid app on Android. This means you could create your own private key, and in the part of the code that says:

sender_create_priv = PrivateKey()

You can replace it with:

sender_create_priv = "LongStringOfRandomness"

Where LongStringOfRandomness is your private key in quotation marks. Then BTCapsule will build everything based on that private key.

Thanks for the encouragement! I hope it’s not too hard to use, and I can make it easier in the future.

nobody 2y ago

ELI5 plz

BTCapsule 🏴 2y ago

😂 Which part do you need an explanation for? How to build BTCapsule, how to use it, or why it works?

nobody 2y ago

The why is this needed part. Or how it's better than just passing the keys along.

BTCapsule 🏴 2y ago

Passing the keys along is a viable solution. There are a few reasons why I think BTCapsule is a better solution.

How do you plan to pass the keys down to your children? Most people don’t give their children access to their bank account before they pass away. This also opens up a single point of failure, because now you are not the only person responsible for keeping your keys a secret.

Do you lock up your keys in a safe or something that is password protected? Now your children must know and remember the password. If they forget, the Bitcoin is gone forever. If they write it down, then your back to trusting someone else with the responsibility of securing your Bitcoin.

You can leave it in a will, but now you are trusting a third party to ensure your children get the Bitcoin. If Bitcoin becomes illegal or the company you trusted is corrupted, there can be legal issues.

With BTCapsule, there are no passwords or third parties. The date you choose is the password, and the blockchain will not accept the transaction until the date has passed. If your child loses their wallet before your death, you can simply create a new one. This will make the old wallet invalid, so if someone else finds it or steals it, they cannot have access to your Bitcoin.

These are a few reasons. I’m sure there are more, but they’re not popping into my head at the moment.

bitcoinjiujitsu 2y ago

This sounds cool.

Just acquired my first Android on the side like a true bitcoiner, may have to look into it.

🙏

BTCapsule 🏴 2y ago

I also have an Android on the side. I like to keep an Android and an iPhone on me so I can do whatever I want 😂