Are You Doing This? - page 2. | Bitcointalksearch.org

angrybirdy

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Quote from: noormcs5 on October 20, 2019, 01:36:07 PM

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Quote from: kateycoin on October 12, 2019, 05:13:00 PM

Quote from: nankers on September 27, 2019, 05:54:30 PM

I want to ask all of you, do you share or give very private things (private key, passphrase, password and else) of Bitcoin to your family? I ask like this because I think if something bad happens to us (I personally hope it doesn't happen), it would be better if we pass down all the things from bitcoin that we have to our families. For example, when we have an accident that makes us comatose state (I hope it won't happen) at the hospital and we need medical expenses, it would be better if our wife or children can take money from the bitcoin that we have to use as our medical expenses.

I personally bequeath all my bitcoin knowledge to my family. I told them my bitcoin assets, how I made money from bitcoin, and also told them how to access them. All of this I did so that all of my bitcoin assets could be useful for my family. What about you guys, do you guys do the same with me?

If you want give your private key or password to anyone in your family it's alright choose the people you really trust so your assets will be safe what ever happens. And I think if you give that to trusted person make it sure they know how to use it. Nothing is wrong if you give to one your family member what your private key like you said it will be helpful to them what ever happens to you in the future.

It is very difficult to transfer a private key even to a family member. In this case, there is no 100% confidence that the money will not disappear from the account. Here's what I don't like about cryptocurrency, that only 1 person should own a private key.

Private key is the most important thing if you own a crypto currency. If you share it with someone or even with your life partner, there is every chance that you might have a bad day with him/her and he /she may misuse your funds. It is very difficult to completely trust anyone and then share the key with your loved one.

If it is someone from your family or your loved ones it shouldn't matter.
Thinking something like they misused your fund will only show that you do not trust them.

But its everyone's decision whether they share any information with anyone or not, if not sharing it to someone close to you will secure your funds then its fine.

gandame

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Quote from: nankers on September 27, 2019, 05:54:30 PM

I want to ask all of you, do you share or give very private things (private key, passphrase, password and else) of Bitcoin to your family? I ask like this because I think if something bad happens to us (I personally hope it doesn't happen), it would be better if we pass down all the things from bitcoin that we have to our families. For example, when we have an accident that makes us comatose state (I hope it won't happen) at the hospital and we need medical expenses, it would be better if our wife or children can take money from the bitcoin that we have to use as our medical expenses.

I personally bequeath all my bitcoin knowledge to my family. I told them my bitcoin assets, how I made money from bitcoin, and also told them how to access them. All of this I did so that all of my bitcoin assets could be useful for my family. What about you guys, do you guys do the same with me?

Yes i have a copy of my personal information like password private key and everything important and i give also a copy to my husband so that if some happen to me they will open my wallet.
And I'll teach them also what they do so they know what they are doing someday.

JollyGood

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Quote from: noormcs5 on October 20, 2019, 01:36:07 PM

Private key is the most important thing if you own a crypto currency. If you share it with someone or even with your life partner, there is every chance that you might have a bad day with him/her and he /she may misuse your funds. It is very difficult to completely trust anyone and then share the key with your loved one.

Hence the dilemma.

What do you do to ensure your loved ones can access the funds in the event of disability or death?

What is the safest option?

Kwame21

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Well, I see it to be very good move. I wouldnt wanna be in such and my family cant access my account because i didnt share with anyone. That will be very sad

noormcs5

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Quote from: kateycoin on October 12, 2019, 05:13:00 PM

Quote from: nankers on September 27, 2019, 05:54:30 PM

I want to ask all of you, do you share or give very private things (private key, passphrase, password and else) of Bitcoin to your family? I ask like this because I think if something bad happens to us (I personally hope it doesn't happen), it would be better if we pass down all the things from bitcoin that we have to our families. For example, when we have an accident that makes us comatose state (I hope it won't happen) at the hospital and we need medical expenses, it would be better if our wife or children can take money from the bitcoin that we have to use as our medical expenses.

I personally bequeath all my bitcoin knowledge to my family. I told them my bitcoin assets, how I made money from bitcoin, and also told them how to access them. All of this I did so that all of my bitcoin assets could be useful for my family. What about you guys, do you guys do the same with me?

If you want give your private key or password to anyone in your family it's alright choose the people you really trust so your assets will be safe what ever happens. And I think if you give that to trusted person make it sure they know how to use it. Nothing is wrong if you give to one your family member what your private key like you said it will be helpful to them what ever happens to you in the future.

It is very difficult to transfer a private key even to a family member. In this case, there is no 100% confidence that the money will not disappear from the account. Here's what I don't like about cryptocurrency, that only 1 person should own a private key.

Private key is the most important thing if you own a crypto currency. If you share it with someone or even with your life partner, there is every chance that you might have a bad day with him/her and he /she may misuse your funds. It is very difficult to completely trust anyone and then share the key with your loved one.

kateycoin

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Activity: 882

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Quote from: nankers on September 27, 2019, 05:54:30 PM

I want to ask all of you, do you share or give very private things (private key, passphrase, password and else) of Bitcoin to your family? I ask like this because I think if something bad happens to us (I personally hope it doesn't happen), it would be better if we pass down all the things from bitcoin that we have to our families. For example, when we have an accident that makes us comatose state (I hope it won't happen) at the hospital and we need medical expenses, it would be better if our wife or children can take money from the bitcoin that we have to use as our medical expenses.

I personally bequeath all my bitcoin knowledge to my family. I told them my bitcoin assets, how I made money from bitcoin, and also told them how to access them. All of this I did so that all of my bitcoin assets could be useful for my family. What about you guys, do you guys do the same with me?

If you want give your private key or password to anyone in your family it's alright choose the people you really trust so your assets will be safe what ever happens. And I think if you give that to trusted person make it sure they know how to use it. Nothing is wrong if you give to one your family member what your private key like you said it will be helpful to them what ever happens to you in the future.

pixie85

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Quote from: celot on October 12, 2019, 01:26:53 PM

Have give your data private key pr phase prase for your family with your bitcoin or your exchange account, we don't know when we got an accident and can't open our bitcoin account, by saving our bitcoin data or private key to our family they will help us when open or selling our bitcoin assets.

Are you really ready to trust them to do it the right way? I'm not saying they could steal your Bitcoin but if they're newbies they will make newbie mistakes. They won't check if the addresses are correct, click on phishing links thinking they are logging into your exchange account, they will use devices that aren't secure and have no antivirus software. There's many ways a newbie can mess up.

celot

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Have give your data private key pr phase prase for your family with your bitcoin or your exchange account, we don't know when we got an accident and can't open our bitcoin account, by saving our bitcoin data or private key to our family they will help us when open or selling our bitcoin assets.

BlackFor3st

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Quote from: nankers on September 27, 2019, 05:54:30 PM

I want to ask all of you, do you share or give very private things (private key, passphrase, password and else) of Bitcoin to your family? I ask like this because I think if something bad happens to us (I personally hope it doesn't happen), it would be better if we pass down all the things from bitcoin that we have to our families. For example, when we have an accident that makes us comatose state (I hope it won't happen) at the hospital and we need medical expenses, it would be better if our wife or children can take money from the bitcoin that we have to use as our medical expenses.

I personally bequeath all my bitcoin knowledge to my family. I told them my bitcoin assets, how I made money from bitcoin, and also told them how to access them. All of this I did so that all of my bitcoin assets could be useful for my family. What about you guys, do you guys do the same with me?

I didn't give my private keys to my family as I am not thinking of dying yet but if time will dictate about my life then I guess my funds will be lost as no one of my family knows about my work and to my private keys.

I've been thinking of it also many times but whatever happen to me, I guess it will be the end of my investment also. And I didn't explain also to my family on how to use crypto currencies therefore they will have difficulty also if I just give them my private keys and will tell them to withdraw all the money there if I die someday.

Xxmodded

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Just doing for my friend, I save my private key or my bitcoin account data with my trusted friend because my family do not know about what is bitcoin, I have trusted friend and I save his private key data and he save my private key data, we doing together if some thing happen on each other my friend or me, I keep give everything my data to him.

boyptc

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I have not but time will come if I think that it's needed. They are aware of cryptocurrency but doesn't know how to do transactions.

And also, if I share my private keys to them, they might eventually say it suddenly by telling a story to others which is risky on my part. That's why I've decided not to.

AicecreaME

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I have already teach my wife and my children on how to do transactions so that in case of unexpected incidents then all of my hardwork and assets will not disappear with me. Anyway, my children were fully diciplined that they will not try to stole the assets because they highly respected me.

I agree, this hard work that we are doing the whole time if for our family, and letting it go to waste by being selfish by not teaching them about how this world works will make no sense. The greater knowledge you pass to your love ones, the greater death you would experience because you don't have any regrets anymore, that is why it is important to share our blessings to them rather than it will stay on nothingness.

No one will use that bitcoin you saved because it is well kept in your wallet, think of it as a legacy that your family should have.

meanwords

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In my case, no. It's easier to just keep it that way to avoid any private invasions. But I've of course put aside some of my assets and put them like a life insurance just in case something happened. I have crypto as a hobby but most of my income comes from the outside world. I do take out some profit out of my assets but I never tell them to my family.

bounceback

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maybe I haven't done anything like that now but in the future I think I will also give a little return on my investment to my family and maybe I will teach my family a little bit about playing bitcoin and other cryptocurrency so they can be easier to work so they don't have to tired of looking for work outside the home and I will definitely give them a portion of my work income for my family to make them happy.

JollyGood

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Quote from: gentlemand on October 08, 2019, 08:31:15 PM

Quote from: JollyGood on October 08, 2019, 07:55:25 PM

You make valid points about making family and loved ones having access to funds in the event of death or disability. The problem is how do you find that fine line between not effectively handing them the crypto in your lifetime and ensuring they get access to it after your death or disability?

That's the tricky bit and that's where you have to very carefully consider your trust levels. You could split the means to access coins or info with family and a lawyer or something but that could be open to being games.

I'm leaning towards assuming I'll be same and not dead enough to wait until the last moment before taking a risk.

You are right about splitting the information that leads to access the coins but that too has problems. For example, if a lawyer has drawn up a will which is to be opened in the event of death he knows which part of the private keys he is to keep and he knows which family member to release it to. Therefore, the lawyer knows who has the other half of the private keys and access to potentials of thousands of US$. Is it always a good idea to give 50% of the keys to one person and tell him which of your loved one has the other 50% even if it is a lawyer?

This is (as you put it) the very tricky part because a balance needs to be found.

Inkdatar

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I have already teach my wife and my children on how to do transactions so that in case of unexpected incidents then all of my hardwork and assets will not disappear with me. Anyway, my children were fully diciplined that they will not try to stole the assets because they highly respected me.

Good thing your family knows how to do a transactions in crypto. This is what I'm doing my family knows where it stores, if everything transpires to what we did not expect, at least one of the member of your family knows where to locate your assets. Just share to your must trusted love one's.

nankers

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Quote from: JollyGood on October 08, 2019, 07:55:25 PM

You make valid points about making family and loved ones having access to funds in the event of death or disability. The problem is how do you find that fine line between not effectively handing them the crypto in your lifetime and ensuring they get access to it after your death or disability?

this cannot be confirmed unless you are still alive to see if your family uses the money from the crypto that you have earned so far. I think at least the family that I trust knows that I have some money from crypto that they can use when they are experiencing economic problems

thisappointed

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Quote from: akar87 on October 07, 2019, 12:43:18 PM

Why have to give private key data to your family if they do not understand about crypto and bitcoin investment, how come they will access to your wallet if they do not know how to do, better give for your trusted friend because its help you when some thing bad happen to you at the future.

What a poor childhood you have had, let me guess, your family didn't like you and now you're having a rebellion against them. Your family might not know how to use bitcoin technology but just like you and your friend, you begun with nothing, you didn't know also at first how this technology works but you did all your best to learn it, I just want you to know that your family could do that too.

We are working hard for our family, so our private keys and other information that contains cryptocurrency belongs to them as inheritors of it, that's more worthy than giving to a friend.

gentlemand

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Quote from: JollyGood on October 08, 2019, 07:55:25 PM

You make valid points about making family and loved ones having access to funds in the event of death or disability. The problem is how do you find that fine line between not effectively handing them the crypto in your lifetime and ensuring they get access to it after your death or disability?

That's the tricky bit and that's where you have to very carefully consider your trust levels. You could split the means to access coins or info with family and a lawyer or something but that could be open to being games.

I'm leaning towards assuming I'll be same and not dead enough to wait until the last moment before taking a risk.

JollyGood

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Quote from: nankers on September 27, 2019, 05:54:30 PM

I want to ask all of you, do you share or give very private things (private key, passphrase, password and else) of Bitcoin to your family? I ask like this because I think if something bad happens to us (I personally hope it doesn't happen), it would be better if we pass down all the things from bitcoin that we have to our families. For example, when we have an accident that makes us comatose state (I hope it won't happen) at the hospital and we need medical expenses, it would be better if our wife or children can take money from the bitcoin that we have to use as our medical expenses.

I personally bequeath all my bitcoin knowledge to my family. I told them my bitcoin assets, how I made money from bitcoin, and also told them how to access them. All of this I did so that all of my bitcoin assets could be useful for my family. What about you guys, do you guys do the same with me?

You make valid points about making family and loved ones having access to funds in the event of death or disability. The problem is how do you find that fine line between not effectively handing them the crypto in your lifetime and ensuring they get access to it after your death or disability?

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