Topic: Crypto After Death? - page 15. (Read 20776 times)
I had anticipated this by storing all the data such as the wallet address and private key into the flash disk and printing it into a paper. I have saved all the exchange account data there and this has been prepared if one day I experience something bad.
Have you ever wondered what will happen to your cryptocurrency when you die, for those holding huge funds, what have you put in place to make sure your kids or family benefit from your crypto savings.
This is quite fascinating because if you know someone with huge crypto savings and he gave up the ghost, I wonder how such families would benefit from his savings since he alone has the private key to his/her wallet.
I guess this is one reason some user still prefer banking Institutions, because they made provision for next of kin unlike crypto.
So my question is what happen to those crypto when the owner of such wallet is no more and no one has access to such wallet?
This is quite fascinating because if you know someone with huge crypto savings and he gave up the ghost, I wonder how such families would benefit from his savings since he alone has the private key to his/her wallet.
I guess this is one reason some user still prefer banking Institutions, because they made provision for next of kin unlike crypto.
So my question is what happen to those crypto when the owner of such wallet is no more and no one has access to such wallet?
in other words no one can access it other than the wallet developer.
yes, that's what will happen. but it is very small in probability, so crypto or altcoin will never move again from the wallet.
Have you ever wondered what will happen to your cryptocurrency when you die, for those holding huge funds, what have you put in place to make sure your kids or family benefit from your crypto savings.
This is quite fascinating because if you know someone with huge crypto savings and he gave up the ghost, I wonder how such families would benefit from his savings since he alone has the private key to his/her wallet.
I guess this is one reason some user still prefer banking Institutions, because they made provision for next of kin unlike crypto.
So my question is what happen to those crypto when the owner of such wallet is no more and no one has access to such wallet?
This is quite fascinating because if you know someone with huge crypto savings and he gave up the ghost, I wonder how such families would benefit from his savings since he alone has the private key to his/her wallet.
I guess this is one reason some user still prefer banking Institutions, because they made provision for next of kin unlike crypto.
So my question is what happen to those crypto when the owner of such wallet is no more and no one has access to such wallet?
Pretty obvious, it will stay on that wallet forever, as long as therei s no one knows that persons private key it will remain untouchable.but for me this kind of idea is un necessary, because i all i want to do is to make money for my family needs, and when the time come for me to rest forever, i will tell to my wife all the information about it before i die, all informations from the start for her to understand easily this crypto and she can get my money outside crypto, or if she wants to continue my journey.
Nothing will happen, the coin will be at the wallet forever and it become useless because no one can use it.
Have you ever wondered what will happen to your cryptocurrency when you die, for those holding huge funds, what have you put in place to make sure your kids or family benefit from your crypto savings.
This is quite fascinating because if you know someone with huge crypto savings and he gave up the ghost, I wonder how such families would benefit from his savings since he alone has the private key to his/her wallet.
I guess this is one reason some user still prefer banking Institutions, because they made provision for next of kin unlike crypto.
So my question is what happen to those crypto when the owner of such wallet is no more and no one has access to such wallet?
If the owner of the wallet is no more or he lost his private key to the wallet means then the funds will stuck into that wallet forever since it is impossible to retrie the informations from the blockchain network so it is important to save our private kets in the manual format and let our family members to access it when we died. This is quite fascinating because if you know someone with huge crypto savings and he gave up the ghost, I wonder how such families would benefit from his savings since he alone has the private key to his/her wallet.
I guess this is one reason some user still prefer banking Institutions, because they made provision for next of kin unlike crypto.
So my question is what happen to those crypto when the owner of such wallet is no more and no one has access to such wallet?
I did not think about it, but still my best friend is also engaged in crypto-currencies and he understands this no worse than me, so if I die, he will be able to withdraw money and give it to my family.
Do you need to worry about it now? Yes. So do something now. Invest with caution and give your family copies using Shamir Secret Sharing or some web of trust protocol.
Have you ever wondered what will happen to your cryptocurrency when you die, for those holding huge funds, what have you put in place to make sure your kids or family benefit from your crypto savings.
This is quite fascinating because if you know someone with huge crypto savings and he gave up the ghost, I wonder how such families would benefit from his savings since he alone has the private key to his/her wallet.
I guess this is one reason some user still prefer banking Institutions, because they made provision for next of kin unlike crypto.
So my question is what happen to those crypto when the owner of such wallet is no more and no one has access to such wallet?
And then it can be considered as a lost coin. remember no one can access it and that means the amounts of token will always in that wallet. this case has already happened with bitcoin. It will decrease the total supply of bitcoin because any lost coin with various reasons can't be opened again. This is quite fascinating because if you know someone with huge crypto savings and he gave up the ghost, I wonder how such families would benefit from his savings since he alone has the private key to his/her wallet.
I guess this is one reason some user still prefer banking Institutions, because they made provision for next of kin unlike crypto.
So my question is what happen to those crypto when the owner of such wallet is no more and no one has access to such wallet?
Well, this is a situation I have not imagined yet 
. I am totally sure there is always a way to keep your private keys for your kids etc. Leave it in your last will and there will be no problem. On the other hand, there are circumstances which cause a surprising death of a person. Therefore I would advise telling your family members "hey, you know, if something crazy happens, you can always find a solution in this box." It is an empty space on the market from which has no one came with a solution yet. We never know what is waiting for us tomorrow and we should be prepared even for this scenario.
. I am totally sure there is always a way to keep your private keys for your kids etc. Leave it in your last will and there will be no problem. On the other hand, there are circumstances which cause a surprising death of a person. Therefore I would advise telling your family members "hey, you know, if something crazy happens, you can always find a solution in this box." It is an empty space on the market from which has no one came with a solution yet. We never know what is waiting for us tomorrow and we should be prepared even for this scenario. 
You can provide private keys to access the wallet of the person you trust, such as a wife and you can make a secret document or and elfish when you will die later. Indeed, if someone does not have a private key to access a wallet, then the cryptocurrency in the wallet can never be taken. The decentralized system in cryptocurrency was designed as such, the system gives full rights to people those who use it, in contrast to centralized systems such as banks, they trust a party to manage other people's assets.
Damn! That's a breathtaking question from OP. You just hit the nail on the head. In recent times, I've been thinking about life lately and I just realized should something happen to me in the next future (God forbid, by the way) that, how would my family have access to personal and exchange wallets? I wish there's somewhere I can store a self triggered note with all my private keys and password.
Knock tattoos with private keys on your body. This will help relatives to access your wallets.
An interesting question. It's a problem, because as you said, only the dead owner has the access to the private key. One solution could be a timer, which demands a user to somehow refresh his wallet yearly or monthly (if it has substantial funds) in order to have further access to it. If he can't do it, he is presumably dead and the private key goes through the blockchain to the entitled person (the delivery of it is problematic), that he specified upon wallet creation. Sure, there are problems with kidnapping or being stranded on a lonely island, lol. But at least funds go to the person, that you trust the most.
Your idea is quite nice, but you have said it all, because everything that has advantage comes with disadvantage as well, just like in insurance company where people would wanna cheat the company when they pledge life insurance, someone can just plot your kidnap and after time exult he/she gets all your funds lol.
Damn! That's a breathtaking question from OP. You just hit the nail on the head. In recent times, I've been thinking about life lately and I just realized should something happen to me in the next future (God forbid, by the way) that, how would my family have access to personal and exchange wallets? I wish there's somewhere I can store a self triggered note with all my private keys and password.
An interesting question. It's a problem, because as you said, only the dead owner has the access to the private key. One solution could be a timer, which demands a user to somehow refresh his wallet yearly or monthly (if it has substantial funds) in order to have further access to it. If he can't do it, he is presumably dead and the private key goes through the blockchain to the entitled person (the delivery of it is problematic), that he specified upon wallet creation. Sure, there are problems with kidnapping or being stranded on a lonely island, lol. But at least funds go to the person, that you trust the most.
well for me, if I die and I have a lot of crypto before that
every private key + password for all my holding will be saved on my PC and Hard Disk.
With an explanation about how to send the balance
Have you started saving those information in details, cus I believe you cannot save all those details in one day, am sure you have some crypto, even if it's not much today but it could be worth a fortune tomorrow, cus when one will be in seek bed, there will be so much to worry about and you might even forget so many things. every private key + password for all my holding will be saved on my PC and Hard Disk.
With an explanation about how to send the balance
well for me, if I die and I have a lot of crypto before that
every private key + password for all my holding will be saved on my PC and Hard Disk.
With an explanation about how to send the balance
every private key + password for all my holding will be saved on my PC and Hard Disk.
With an explanation about how to send the balance
Your question is a good reason to start now a little to acquaint your close people with cryptocurrencies and to explain to them what the wallet and private keys are.
Life and death is a rhetorical question. I've noticed that people think about death and life come to middle age. Since no one is insured against an accident. I believe that storing keys and passwords for your loved ones is a good idea. Because we stay in our children. We need to leave them their savings and labor. To they were not in vain.
Write your privat keys and exchange's logins and password's on a couple pieces of papers and hide them in some secret and secure places.Explain to your family what crypto is and show how to do transactions. When you get strong feelings that the death is somewhere around ,tell to your family where you keep the papers.
It will be difficult to implement in practice. In order for the family to be able to use your coins and tokens after death, they need to know how to use them, and this is a rather large amount of knowledge. Most likely, they will be forced to seek help from other people. And this, again, is a matter of trust.
Lol, it's a good question indeed. There is no way of recovering those unless you leave some data. However, people should share info whom he/she believes the most. Like, my girlfriend, I believe her the most and I told her everything.
lol that works until your girlfriend decides to leave you and take your crypto. A lot of people are real sociopaths that who do and say anything just to get money.
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