knows it's currency. What are the top ,3-5 most basic important concepts to convey to a kid about BCH? I started with fast, cheap and reliable.
That it is fully hers but that this also means its her responsability to not lose it? Is that to early for a 7 year old?
Yes. Nyk NYC. That's simple and straightforward
Has she seen The Bitcoin White Paper Visualized?
No! I will see what sticks with that. Maybe a little bit above a 7 y.o. but never know
That is an awesome piece of art! I'm really starting to realize that the proper way to educate about the version of Bitcoin we all love is to start with little kids
One thing about that app that is a hidden feature. If you backed up your seed, it should be possible to create and fund a contract but NOT publish it, i.e. not have it start paying monthly. If you then come back, maybe 11 years later, and reenter the address and publish the contract, only then will it start paying. Who knows? Maybe wie'll all be working for your daughter one day.
All right. Maybe I will try that for her birthday next month. I can put in one bch for her
The orange like button is what publishes the contract, but if you copy the orange contract address instead, it should give you access to extra information on the code (<>) tab. If you write down the Phi Protocol string and the Command, I'm sure someone should have an app that understands those things in 11 years.
Curious, Whats the point of not publishing now?
I think 7 is probably a good age where it’s possible and fun to memorize •~={Twelve Secret Words}=~• You could hit refresh a few times in order to let her choose a set of “good words” that she likes. Then later you can demonstrate how typing them into an app summons her balance.
All the funds would just sit on the contract if not published. If a 1 BCH contract started now, In 11 years, the principal will be ~0.25 BCH and monthly payments should be 250k sats. If the redeem path isn't revealed for 11 years, the whole 1 BCH principal will be there, and the first payout will be ~1M sats/month. 🤷
I see. Considering it’s her bday soon, Maybe something fun midway is to make a contract that pays larger amounts annually. Preprogrammed bday gifts 🤩. I didn’t see how to do that on your interface tho.
The default annual perpetuity in the more advanced app has an annual contract that pays out 1/8th the principal. Just bear in mind, there aren't a lot of these contracts out there so the privacy is low. Especially if you do something not commonly done yet. That's one of the options all the options are removed in kids app.
It also teaches the importance of spelling practice. One mistake and no money.!
Can I have a wallet on a phone that doesn't have a sim card? Like put my sim card in an old phone to download and transfer the BCH and then take the sim card out?
Sure you can use an old phone as a cold wallet. Many wouldn’t, citing that WiFi and Bluetooth radios are still crack vectors. You should still of course have the seed words stored safely somewhere more secure than a child’s head.
wouldn't putting the phone on airplane mode keep the wifi/bluetooth connections off?
yeah I keep it off like 99% of the time, too
remember to do a factory reset first,
https://read.cash/@mtrycz/use-an-air-gapped-dual-electron-cash-wallet-for-ultimate-security-30f5b608
Mostly turned off….you probably want to stick it in faraday bag even when powered off.
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