The Father’s Day Gift Guide For Bitcoiners

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Dads don’t really require much. They can just relax on the couch with a cold one, surrounded by their family. We already have our families. This is my third child, and I am a father to three. My wife of eight years gave birth to our third.

Most things will end up in trash eventually, if you think about it. I refer to many toys that we give our children as “future garbage.” It is an unfortunate side effect of the fiat society in which we live. What is the best way to increase your earnings year after year? Make products that don’t work.

I’m not saying this is intentional. It’s just the current state. Reduce costs wherever possible. After many years of iterations in this system, we have fundamentally changed from a manufacturing society to a consumption society. Products don’t last.

So instead of spending $100 or so on a thoughtful gift that is inevitably bound for the trash, why not think on a longer time frame? If you want to give a gift that will last, consider a gift that is not too long-lasting. You can save some money by having your kids draw pictures and paint rocks. This will make it last a long time. Below are some gifts that can be used to promote Bitcoin for different types and types of dads.

For the Low-Time Preference or Bitcoin-Curious Dad The first thing that came to my mind was buying bitcoin. A rough 33-times multiplier would take bitcoin to a million bucks, meaning a $100 bitcoin buy would become about $3,300. If we avoid a hyperinflationary disaster, this is still a solid vacation for you and your family.

Better yet, why not start an automatic bitcoin purchase with a solid bitcoin company like Swan or River. As little as $25 a week or month will do wonders for your purchasing power over time. Michael Saylor says, “Get a piece of the prime digital real estate while it’s still affordable to normal people.” At 21 million bitcoin to go around, there’s not even enough for all the millionaires in the world to own a whole coin. Start stacking bitcoins for your dad today.

If your dad hasn’t yet used bitcoin, I recommend that he get a small gift of bitcoin at the local Bitcoin ATM. To claim the bitcoin gift, your dad will need to set up a wallet, and possibly complete a cash out transaction. This will allow him to see how the network works.

Even if your dad ends up selling, he’ll get some familiarity with the network, have experience with a wallet, and have to create an account at an exchange like River that he can go back to when he realizes that he made a terrible mistake.

But if your dad wants to keep his bitcoin gift forever, I recommend that he start with a wallet. For wallets, I really enjoy BlueWallet. You can even help him set-up a multisigsolution by using only a combination or cell phones.

I also came across a great idea to help those less tech-savvy to save bitcoins and manage their private keys. The idea came from one of my Bitcoin buddies, who published an article about gifting his parents bitcoin using a Ballet physical wallet. The bitcoin wallet is a single solution card that can be used to store your bitcoins. This method requires a high level of trust in the manufacturer. I wouldn’t recommend storing your entire life savings with it. However, it could be a great way to get someone started with Bitcoin.

For The Sovereign Individual Dad

If your dad is already a Bitcoiner, it might help to get them a hardware wallet and some key backup hardware to help secure their sovereign stack. Even if they have one already, technology is constantly improving to make it more secure and usable. The Coldcard is a classic choice with tons of functionality. Coinkite actually just came out with an updated version, the Mk4, which can give your favorite dad a chance to experiment with different security protocols to throw off would-be attackers.

Conveniently, Coldcard is one of the hardware devices which is supported by managed multisig providers like Casa and Unchained Capital. Security doesn’t need to be scary anymore. Unchained can even help your dad set-up a self-directed IRA so that he can convert his retirement account to unconfiscatable, tax advantaged capital to aid him in his transition to a better future. Unchained also supports bitcoin-collateralized lending so he doesn’t even have to sell!

Both institutions also support more user-friendly devices like Trezor and Ledger. I personally like the ease of QR-enabled devices like the Passport and Keystone Pro. Don’t forget to backup dad’s steel keys. I prefer Black Seed Ink. Make sure he doesn’t forget where they went on his next boating trip.

Another cool idea is to get your dad a Bitcoin full node so he can verify his transactions and enforce the Blockchain rules. There are out of the box solutions like The Sovereign Machine, nodl and the Ronin Dojo. They all have their own benefits and trade-offs, but luckily Bitcoin Magazine has already published a ton of research, so I don’t have to spell it out here. Just know there are also many DIY solutions that cost a lot less.

For The Bitcoin-Skeptical Dad

Socks. They don’t have bitcoin.

Just kidding.

If dad is on the more intellectual side, I would recommend a well thought-out and beautifully written book like “Bitcoin Is Venice.” It’s a pretty dense read but incredibly thought-provoking and logical. This book may help dad get on the lifeboat if he’s still not sure.

If dad is the financial type, I could recommend some of my personal favorites: “Layered Money,” “The Bitcoin Standard” and “The Bullish Case For Bitcoin.” Legend has it that “The Bullish Case For Bitcoin” was the piece that orange-pilled the legendary chad himself: Michael Saylor.

Another route would be a subscription to the Bitcoin Magazine print edition. Surprisingly though, most people who are financially literate view bitcoin as a scam or a pyramid scheme. These stories can help dad see bitcoin as a fundamentally important technological advancement. It’s more than just “price go up” technology. It is essential to your freedom.

Bitcoin Is The Gift That Keeps On Giving

Bitcoin is a hedge against inflation; it’s a hedge against tyranny. It’s a free and open monetary network that is all in one. It might be the best time to get your dad on the life raft, as gas and food prices continue their rise.

This is a guest post by Mickey Koss.

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