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December 04, 2014, 02:25:31 AM |
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Giving folks bitcoin (e.g., paper wallets) as gifts has two major downside risks:
* That they not understand bitcoin and thus don't appreciate the gift, and
* That the value of the bitcoin go down significantly and they come to rue the day they received your gift.
Here's a time-proven way to overcome those problems: Guarantee the value of the bitcoin gift for one year. Give it with this caveat/promise, either written or verbal: "The price of bitcoin rises and falls sometimes dramatically. For that reason, I guarantee the value of this gift for one year. If during that year the price goes down and you want to redeem the gift, I will buy it back from you for the exact dollar amount I paid for it. If the value goes up and you wish to keep the gift, all profits are yours to keep."
More times than not, this makes folks dig in and learn about bitcoin, even enough to start buying and using it on their own. And if they end up asking you to redeem it for its original value, they're given one more occasion to thank you for your best wishes and generosity.
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