Best Practices for Fund Raising With Bitcoin by "BTC Sessions"

avatar
(Edited)

Ben Perrin (also known as BTC Sessions) discussed his involvement with the Canadian trucker convoy. In the podcast he talks about how Bitcoin solved the problem, what he did badly and what his best practices should be. This was on the What Bitcoin Did Podcast with Peter McCormack. While they were raising 21 BTC, all of the fiat methods for funding failed.

So here are the best practices:

  • The web page should use a BTC Pay Server. The reason for this is that every donar gets a new address and it accepts lightning.
  • Immediately after all funds are received, coinjoin.
  • The Three of Five was too high of a quorum. A Two of Three would be just fine.
  • Key holders of the wallet shouldn't be publicly known high reputation bitcoin people. Instead, high reputation bitcoin people should vet anonymous people who reside in some other country. These people should be the key holders.
  • Method of delivery: Create "care packages". Essentially, seed phrases with preloaded Bitcoin and instructions on how to setup the wallet that could be loaded into Blue Wallet. They moved the money from BTC-Pay to a Nunchuck Wallet because it was easier to manage and create these care packages. Although, buying the products for the people may be a good alternative.

BTC Sessions uses Muun as his pocket money wallet.
Wallet for Funding: BTC Pay Server
Wallet for distribution of funding: Nunchuck Wallet



0
0
0.000
0 comments