Good morning Steemians! I hope everyone is having a great weekend so far. So my son wakes me up today to show me his btc wallet and he has made a little over 1 bitcoin just by using faucets for a year. My question is will all these little micro transactions he has made be a pain to move around to a more secure wallet? He want me to move everything to BitPay so he can use the debit card they provide. Obviously, I told him that won't happen because he is way too young in my eyes and because I said so! (I provide all he needs) What I will do for him is move them out of his blockchain wallet to a more secure wallet. My only worry is with all these little transactions that were deposited like 50 cents here and 30 cents there will it be just a simple transfer or could this take days?
Oh and he also wanted me to share his unfinished Steemit drawing with all of you. 🌞
I hope you enjoyed. Please Upvote, Resteem, and Follow me @road2wisdom
If it's all in one wallet, it should be movable with a single transaction. He sounds like a younger me!
Thank you @lexiconical
I hope you are having a great weekend :)
This is great! Bright kid using what he can to earn. You should be able to send any amount to any wallet. One thing to consider though, many faucets have to earn a minimum before you can withdraw bitcoin from them.
Upvoted and followed.
Thank you :)
What a kid. 1 bitcoin from faucets! He must have learned an incredible amount of patience whilst accumulating that amount!
If all the faucets paid out to a single wallet (and a single address) it should only need a single transaction to transfer from one wallet to another. Be careful where you move your coins to though as different wallets have different strengths and weaknesses.
This article may help you select a suitable wallet to use:
https://www.bitcoin.com/guides/how-to-choose-the-right-bitcoin-wallet
this is impressive. :D smart kid
Hello @road2wisdom i would advise you purchase a TREZOR Bitcoin Wallet
for the price of $103 this is a USB wallet so its always Safe.
Next what i would do is transfer The totality of 1 Bitcoin and split it up into 4 Parts
So like this
0.25 BTC in Wallet 1
0.25 BTC in Wallet 2
0.25 BTC in Wallet 3
0.25 BTC in Wallet 4
Total = 1 BTC (4 x 0.25)
After that once you have the TREZOR Wallet Transfer the funds to the USB Wallet and Secure it.
The problem in the next coming years will be that Desktop Wallet or Web Wallets will become very unsafe due to hackers.
So spreading your BTC is always the Safest thing to do untill you have the Security of TREZOR or other USB Wallets.
Hope that helps :)
And its a really beautiful drawing! i like it ^^
Yes, thank you for taking the time to break it down for me. I appreciate that and thank you for the kind words :0)
I know there will be fees involved in doing that but since others already spoke on that, I wanted to add the security aspect of it :)
Have a nice day!
In this case, you should have more children!
HAHA Maybe one more someday. I can start a chain of little bitcoin miners lmao
Exactly how many bitcoin addresses are involved? Was he using 1 address per faucet drip? Pretty amazing he was able to build up that much over a year though. Sounds like he found himself some pretty cool faucets there! lol
Yes,he used the same address from what I see over and over with these sites. Some would deposit weekly and others every couple of days. It's crazy to see all these little transactions and to see bitcoin rising over time over the past year all equal a little over One BTC. I know I couldn't sit there and do this for a year lol Thanks for stopping in :0) How are you doing?
if they all went to the same wallet, then he could literally just move it all in a single transaction. if it were all in separate addresses, that would have been a nightmare! lol
doing well, just been busy with things like my latest "release"... a post slider for minnows and a way to "monetize" older content! :)
So what websites was he using?
Lets call it your personal pension fund! Ha ha! :D
lol
Now that is what I am talking about!
Success is not what you are given in life, success is being resourceful and staying hungry with drive for the goal. He is off to great start in life, I am he will stay hungry with that drive.
Those are very true words. He has big dreams as we all did as children but he is very good at his little age at manifesting what he says into reality. I think i wont have to worry about him in the making a life for himself department' lol Thank you for the generous words.
I just want to say that you have a genius kid. Be proud of him.
Thanks @loftee I am very proud of him he is my life :)
That is great. Please congratulate him. Upvote and follow are done as you asked. Please do the same. Thank you.
I will and thank you :)
It would only take a while if he had any unconfirmed inputs from his transactions. Also be mindful of the appropriate fee, it should be rather low, but you can check the state of the network here:
https://estimatefee.com/
Or send a direct query like this:
https://estimatefee.com/n/6
Which tells you the exact fee to set to get a decent confirmation time.
Having a whole Bitcoin is a rather large achievement, he may not want to spend it all just yet. He's in the top 0.3% of people that own a Bitcoin.
Reference chart:
Thank you for that information.
1 BTC by faucets ?? WOW i am amazed by his persistence !!! Buy him a photography book to start learning taking professional pictures, and make him a ccount on the platform ! we could earn WAY much more!
haha I just might do that he likes to draw and last week he went to the Florida keys and took pictures while snorkeling im curious to see those pictures :)
This is awesome, talented indeed. @road2wisdom
Thank you, he is something else, I tell you! Thanks for the kind words.
:0)
Wow, I can't believe! One bitcoin??
You should be so proud of him! My brother is so lazy.
Transfer that bitcoin to a secured wallet and keep it! He will buy his own house in 5 years!
Hi, Yes a little over a One Bitcoin his persistence paid off! He did this all on his own which I find funny. I am very proud of him he is my life. I will move it to a more secure wallet but do you think the move will be a normal 1 hour max transaction? or because of all these little transactions it will take longer? Thanks for the kind words :)
If you have all the bitcoin in the same wallet like 1.06 Bitcoin, you can easily send to another wallet, it will confirm fast
Watch out for the Bitcoin fees! He may end up with a net loss if he wants to do 10000 micro transactions!
Yes, that's why I was asking about all these micro transactions whats the best way to go about this so its fast and cheap?
There is no way out of this fast and cheap I'm afraid. You could use the minimal bitcoin fee in your wallet which is 0.0001 BTC, that's 0.27 cents with today's price at $2700. But you may end up with hours or even days for the transactions to confirm! If you pay a higher fee like 0.0005 BTC ($1.35), you accelerate the transaction to maybe 15-30 minutes, but this will eat your transaction. And if you want to transact with Bitpay and the likes, they charge even higher fees to get a faster confirmation. As an example, I converted 2 SBD to Bitcoin two days ago as test, through Blocktrades, and I ended up with a net 40 cents, that's $1.60 of fees! Bitcoin is really not a good solution for small transactions, for its ridiculous fees!
yeah, that's what I was afraid of i learned a while ago bitcoin was not good with small transactions, so i guess i would prob pay the higher fee to transfer it out I don't want it stuck there for days. One time i waited 8 hours for a 20 dollar transaction that had one micro payment in it and it taught me a lesson! Thanks for your quick response :)
A couple of months ago I waited 4 days for a transaction to confirm! But that's not all, the stuck transaction also froze 3 other transactions that I made afterwards. So I had 4 stuck transactions instead of one. That's when I decided I'm done with BitchCoin and moved to altcoins with their faster and much cheaper fees. STEEM for instance has no fees at all, so your son might want to get into fauceting STEEM :)
This post received a 2.8% upvote from @randowhale thanks to @road2wisdom! For more information, click here!
That is so cool, I started doing some mining myself. I am only in a few penny's at this point. What programs is he using? I'm interested in some of the answers that show up here.
Not a program they are apps and websites he visits that give a few bitcoin every couple of hours and then deposit them into your wallet in the end of the week or daily, two he uses are moonbit and freebitco which i dont want to spam and advertise but you can google them. I will get you the rest later and post them up for you! I sent you a message yesterday before you sent me one did you get it?
I am not sure, I did just see one on how I was doing. Is that the one?
Thanks for the response, I will check them out.
Your kid future is very bright it is because he understand the value of money and its worth. Hope my kid would understand the same and start earning from young age.
@road2wisdom got you a $1.86 @minnowbooster upgoat, nice! (Image: pixabay.com)
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Faucets for an entire year, now that is an enterprising young man right there.
It sounds like all the transactions went to a single wallet so it should be a single transaction you can do to move the bitcoin.
lol yes he gets very determined he is a little negotiator but I think every kid his age is haha. Yes, it all went to one wallet. So one transaction shouldn't take 6 days lol
Haha, negotiating like a pro, I love it.
Only 6 days, lol, glad that is not the case.
lol thank you
That's fantastic, very bright child. Faucets are a slow version of mining but the end result is the same :)
Wow that is great! 1 Bitcoin in just using faucets, that really is hard to do. You must be very very industrious and patient to do this haha. I myself gave up on this faucets thinking its not worth my time to do it.
He is a persistent one lol thanks for posting :)
Bright kid, I tried faucets but gave up after a few days. He must be very determined and stubborn because earning from faucets can be pain in the neck. But then he is a kid, with no immediate need for cash. I'd advice to hold the bitcoins for a while yet, the price is sure to appreciate further in the coming weeks, months and years. Who knows what one bitcoin will be worth in a year or five.
What faucets is he using?
he uses faucets and apps on his phone the 2 faucets I know he used the most are moonbit and freebitco I don't want to type out all the address because I don't want to spam but you can google them or add the proper ext. hee thanks :)
TY
Its awosome..11 year old boy ..wow..
1 btc is my dream
Thanks :)
I am blown away. I haven't figured all of that out yet. He will have a bright future. Following
Thank you I followed you back :)
It should be no problem to payout the bitcoin to a safer wallet!
Thank you
13 Choo-choo train! 13th was the day I was born on! It's my lucky number! What a clever boy you have there! A few more years and he can steem on for real!! I wonder what his username would be??
haha i will ask him! :)
Yeah, get back to me on that one will ya. A clever boy like his mum and dad :)
I think I might have to claim @ringostarr using AnonSteem! Ha ha! :D
It is just Wow! great son of super mom indeed. I do not have any idea about your quire but i can up vote your post as appreciation for your son for his little efforts. Thank you. Please follow me too @Jaikumar and up vote my posts. I need just this moral support from you because if people like you with good steem power will up vote or resteem our post it will be a kind of bliss on us. Thank you please.
Thank you for the kind words and I just did a post and everything you just spoke about earlier today following you :)
ONE whole bitcoin using faucets?! omg! Congratulations!
Thank you :)
Incredible! ... just learnt what faucets are #noob
Thanks :) glad it was helpful!
I have followed you
please follow me
That's amazing! How great is that for him to be involved at such a young age, it will pay off for him!
Yes, he is way ahead and I am still learning! Thanks for posting :)
Very cool! This is the first time I heard of BTC faucets really paying off. It looks like your question was answered. I would get him a Ledger Nano S and take the BTC offline.