Bitcoin a sure legacy | Bitcointalksearch.org

Yatsan

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Quote from: Janation on September 23, 2020, 05:42:26 AM

I think you should not rely a 100% on Bitcoin.

It is true though that a lot of people earned a lot of profit from investing on it but in the future, we can't say that it will be Bitcoin all the way. You should not put all your money into it and just put something you can afford to lose. I will hold my Bitcoin as long as I can think it will be profitable to me, I am still looking forward on using it daily but for now let's take advantage of what we have right now.

I agree. Instead of focusing on what will happen in the future, bettet think of what we can still have today. We cannot say what can be possible to happen on Bitcoin the upcoming years but we are hoping and expecting that it will be good all along the way up until each and every people barely accepts and uses Bitcoin and it is legal on every country. Bitcoin is profitable and a good asset to stand with bu reliance and dependency must not play a role for we cannot say what can happen. Still up hold and control your investment into the extent you can afford to lose so no regret to be taken over.

Quote from: ?? on ??

legacy ? I haven't thought that far. for me bitcoin is currently more inclined towards an investment asset, and it looks like bitcoin is not suitable for inheritance. although the price continues to increase, we must be aware that price fluctuations also often occur here, the price of bitcoin can go down at any time.

It is a certain. I am just also into holding Bitcoin but haven't think of it yet to serve as inheritance or legacy for I am still that young and can work and access my Bitcoin so I just focus on what is right in front of me instead of bothering about what will happen in the future.

adzino

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Quote from: wklt2002 on September 29, 2020, 04:54:53 AM

Holding on to bitcoin for your children to get once you pass away would be stupid in my opinion. The odds of the bitcoin being worthless by the time you die is massive compared to it being worth alot of money. Gold would be a better way to pass money on to later generations.

Why do you think the odds of bitcoin being worthless is massive? I can't think of any reason other than the fact that every government in the world started to go against bitcoin or huge flaw has been detected where the security of the technology is in question. Even if a better coin is created which solves all existing problem, I am sure people will still use bitcoin as a store of value. I guess the problem is passing the bitcoin there are chances where the private key might get destroyed or lost. Though I won't deny Gold would be better since there are zero something going wrong with gold.

CarnagexD

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Quote from: pokeronlinestatus on September 29, 2020, 11:35:31 AM

How is Bitcoin a sure legacy? You don’t even know when you’re dying and how will your family have access to the wallet where the cryptocurrency is stored? because I know for sure that most people who are making use of Bitcoin don’t tell anyone their passwords to their wallet; they just install a wallet and then buy Bitcoin and other cryptocurrencies and store in it.

There are various topics that has been discussed regarding to this, bitcoin as an inheritance to your loved ones. Maybe the OP is referring to bitcoin as sure legacy when the death isn't a sudden one like accident. Even me, if I have to die now I'll make a way for my family to get access to my wallet and get the valuable coins I got there. Most people might not know about bitcoin, but a simple instruction will do.

Quote from: pokeronlinestatus on September 29, 2020, 11:35:31 AM

The only way you can say it’s a sure thing that you’re leaving for your family is when you write down the passwords down and keep it in a place where you know that your family will have access to it when you’re no more. If it’s not going to be that way, and you’re going to be the type that will keep the passwords to yourself, then it’s of no use.

The worst thing to happen to human is to die, though it's part of life, if you read Hal's story then you should know what you need to do if you want a legacy.

pokeronlinestatus

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How is Bitcoin a sure legacy? You don’t even know when you’re dying and how will your family have access to the wallet where the cryptocurrency is stored? because I know for sure that most people who are making use of Bitcoin don’t tell anyone their passwords to their wallet; they just install a wallet and then buy Bitcoin and other cryptocurrencies and store in it.

The only way you can say it’s a sure thing that you’re leaving for your family is when you write down the passwords down and keep it in a place where you know that your family will have access to it when you’re no more. If it’s not going to be that way, and you’re going to be the type that will keep the passwords to yourself, then it’s of no use.

wklt2002

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Holding on to bitcoin for your children to get once you pass away would be stupid in my opinion. The odds of the bitcoin being worthless by the time you die is massive compared to it being worth alot of money. Gold would be a better way to pass money on to later generations.

rollingdice

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Quote from: Janation on September 23, 2020, 05:42:26 AM

I think you should not rely a 100% on Bitcoin.

It is true though that a lot of people earned a lot of profit from investing on it but in the future, we can't say that it will be Bitcoin all the way. You should not put all your money into it and just put something you can afford to lose. I will hold my Bitcoin as long as I can think it will be profitable to me, I am still looking forward on using it daily but for now let's take advantage of what we have right now.

Absolutely agree, Bitcoin maximalists believe that it'll be the top currency or the world reserve currency one day. In fact, it's a misconception that must be dispelled.

Reatim

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Quote from: Jstandhope on September 28, 2020, 12:06:15 PM

Bitcoin is a sure legacy. It can be kept for inheritance for one's children unless a ban a placed on it in the future else it's a sure legacy

Cool to hear that we will inherit our bitcoin to our children and love ones,and yes this is what we wanted to be
so the legacy will continue from our generation to the next one.
Bitcoin will be a Legacy no matter what happen and no matter what people
against in Crypto do just to stop this currencies.

Warkop

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Quote from: J1mb0 on September 27, 2020, 02:40:51 AM

Quote from: Golftech on September 24, 2020, 05:14:26 AM

Quote from: J1mb0 on September 24, 2020, 04:55:28 AM

Quote from: joniboini on September 23, 2020, 05:23:22 AM

In the end, Bitcoin is a currency, so you should keep it safe on your own and don't depend on exchanges which existed for less than ten years.

I agree, a lot of people have lost money just because they left their assets on exchanges. A friend of mine previously deposited his property on the poloniex exchange, after which they deleted his entire account without giving any explanation.

what?in Poloniex?one of the biggest exchange doing this?

maybe your friends account is connected or involved in illegal activities?but even though still it is not right to just delete the account without explanation.

this sounds fishy for me because i don't really think that exchange like that will do this kind of action.

Well, here I am referring to the large exchange that is Poloniex. I'm pretty sure my friend didn't get involved in any illegal matters, he simply kept some money on the Poloniex exchange for a long time.
After that, Poloniex exchange automatically deleted all of his assets without giving any reason.

I don't think there is a big exchange like poloniex that closes someone's account without any explanation, without unless the exchange closes the site or they commit fraud. And what makes me confused is why your friend stores large assets on the exchange, why not in a personal wallet, because if we store large assets on the exchange it seems very risky to lose your assets. What you are saying doesn't make sense to me.

Jstandhope

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Bitcoin is a sure legacy. It can be kept for inheritance for one's children unless a ban a placed on it in the future else it's a sure legacy

budi691

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yes, I agree if bitcoin is used as an inheritance for our children and grandchildren, because the investment value continues to increase, the future of technology will be much more developed than now and our children and grandchildren will better understand the function of bitcoin in the future, so it's not wrong if we inherit bitcoin that is valuable with all the technology.

TIDOVEE

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You are almost referring to it as investment than legacy, you need to consider the space of wallet security within the account transfer, bitcoin is very sensitive to deal with when it comes to this, because if an account be willed to another person all necessary details must be given and it will be good if the reciever knows how to make trade so as not to go and deliver the wallet address to traders who will end up hacking the account, ending as loss.

Jayrmalakas

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bitcoin is for reigning for world record bitcoin is a higher expectations to grow and glow in cryptocurrency.it is one of the best for investing and trading and i know that bitcoin will never disappear and more investor will joining on this blockchain and more more country will accepting bitcoin and i do believe that bitcoin is a legacy

ryap12

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Quote from: blckhawk on September 28, 2020, 05:52:43 AM

I also believe that Bitcoin was a life saver not for me but also to my future successor. I want to trust my future on it as well. However, for some reason, I think I shouldn't rely on it too much because we still never know what future is ahead of it. That is why what am I going to do is to accumulate more profit as much as possible I can then perhaps I will purchase or make my own business through help of Bitcoin. In this way, I can guarantee that my assets will be fine in case worse happens.

Relax blckhawk for Bitcoin will always have a bright future no matter how I look at it. Especially if more people misplaces their Bitcoin wallet access then the more it will be scarce and for sure the price will continue to grow. Having a business is also a good option for Bitcoin is going to be a long term investment so having a business will help you survive your daily needs. But who knows, maybe, your business will make you buy more bitcoin.

blckhawk

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I also believe that Bitcoin was a life saver not for me but also to my future successor. I want to trust my future on it as well. However, for some reason, I think I shouldn't rely on it too much because we still never know what future is ahead of it. That is why what am I going to do is to accumulate more profit as much as possible I can then perhaps I will purchase or make my own business through help of Bitcoin. In this way, I can guarantee that my assets will be fine in case worse happens.

Assface16678

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Time by time the bitcoin gives a good contribution to the different people they are using the bitcoin mostly for transactions and investment some of them use this for a kind of payment and some of them store or hold this coin for a long time. The bitcoin is already running so many years do expect this will become good so long.

I think for the coming years even I have a child the bitcoin are still exist and can be used and the same purpose I hope they will now adopt the payment like this.

AniviaBtc

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Quote from: Natalim on September 23, 2020, 05:51:15 AM

Quote from: ?? on ??

I agree that bitcoin is an asset in the future, even for the children and grandchildren, it can be inherited with the condition that the bitcoin wallet is included with the grandchildren, if the wallet is hidden, the children and grandchildren cannot feel the inheritance.

Who would hide something if they like to inherit their bitcoin, they will surely give all the information and files to access the bitcoin in the future, it's a good inheritance as the value continues to increase as the demand continues, however, there's always a risk, what we are looking is only the positive side, how about the possibility that bitcoin may fail.

If bitcoin fails that time then probably the person who will inherit his/her grandparent's bitcoin will need to wait for more time again.

You just need a lot of patience in bitcoin, you don't really need to rush things because bitcoin is very volatile.

I will do the same thing if I'm in that situation, all of my effort and hardwork in bitcoin can be still valuable in the next generations. Bitcoin is really a good asset for investment and it is worth it in the long run because I really trust bitcoin in the long run. I will teach my family and relatives the essence of bitcoin and how it works so that when they inherit mine, they know how to manipulate it.

JuSayCo

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Yes, its a sure Legacy if we owns a huge amount of bitcoins. But, on the other hand, its a bit risky if we'll leave this kind of asset to our loved ones. So, for me, its better to convert it into fiat or physical money if all else in life are definitely uncertain especially nowadays. It should be wise as well to invest something profitable outside the blockchain platform, so we can prevent the risk of losing our asset.

AakZaki

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The value of Bitcoin will not continue to increase, there are times when bitcoin will decline due to the fluctuating nature of bitcoins. I believe bitcoin is a good legacy for the future because the technology is constantly being developed.

The complicated process of private keys must be stored properly and securely if they are to be inherited. The safe way is that you can store in a bank such as storing securities, but you will be charged a storage fee. Or you can save your private key on a paper or plate board and keep it in your private place.

Inheriting bitcoin to our children and grandchildren is a wonderful and modern legacy that will allow them to learn about bitcoin and benefit from it.

Wexnident

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Hmm but this is kind of against how Bitcoin is supposed to be used. As a form of currency, using it as a form of legacy seems contradictory, especially if you're basically riding on its volatility factor to actually accept it as a type of legacy. It's still debatable even if the current volatility of Bitcoin would be retained after the supply is completely released. Yes, the price may still fluctuate, but it shouldn't move by more than 5-10% after it has settled down. Plus, there are a lot better options to consider as a legacy instead of Bitcoin imo, possibly some that actually have a meaning or a message for the ancestor to pass on to their predecessors. Sure some may consider Bitcoin as one, but a vast majority wouldn't imo.

acdc

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Quote from: J1mb0 on September 24, 2020, 04:55:28 AM

Quote from: joniboini on September 23, 2020, 05:23:22 AM

In the end, Bitcoin is a currency, so you should keep it safe on your own and don't depend on exchanges which existed for less than ten years.

I agree, a lot of people have lost money just because they left their assets on exchanges. A friend of mine previously deposited his property on the poloniex exchange, after which they deleted his entire account without giving any explanation.

Delete the entire account without giving any reason?
Before I heard someone say that Poloniex exchange will aggressively treat people using Poloniex exchange as a place to keep assets. However I don't think they handled it so strongly, you should advise him to contact support to get a good reason.

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