Crypto After Death? - page 6. | Bitcointalksearch.org

drants

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Quote from: Kelvinovie2 on October 05, 2018, 08:51:13 AM

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?

haha nice question Wink

i guess there might be a system of confirmation for relatives. yet this is a good chance to think, why we need money at all (in that enormous quantity) if it no longer with us when we are dead

tansoft64

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I think their are already many people has died and their cryptos are also gone because they forgot to share their account to their family, we don't have to be greedy at all times and share what we have in this world.

chandrarahmadewa

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If someone dies without notifying the wallet's private key, I make sure the crypto asset will accompany the person when buried. LOL
If I die later, I will give crypto assets to my child along with the wallet's private key

dadisde

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I hope that crypto will be mass adopted in the upcoming 10 years and I also hope that in 10 years I will be still alive Grin

Crypto currencies are representing the future of payment systems and the blockchain technology will make the world decentralised.

desticy

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I think about this question makes sense to think only if you are going to die in the near future, otherwise you will be able to find out what happens to the crypto market in 30 years.

Iwillgotothemoon

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I don't have such strong predictive power, but I have a passion for cryptocurrencies. If I choose to leave items for future generations, then I will choose cryptocurrencies and houses!

Anna Borisovna

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I think in order to avoid such a situation, with the loss of all cryptocurrency savings - it is necessary to devote a trustee where and what you have stored, or leave it on
although after death you will not care))

sinkfish

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make sure your inheritance got your id and password. else it consider burn.

iTradeChips

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Leading Crypto Sports Betting & Casino Platform

I think that the the only way I can transfer this to my kid is teach him what crypto is and then give him my private keys. Then I think he will try to figure out on his own based on the information that I will give him and it should be sufficient enough for him to open the wallets.

Bomber007

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There are many ways to secure your Cryptocurrencies after death and make sure it is passed to your future generations, one way is to write a will and include the private keys to your important wallets in that will and escrow it with a very trusted law firm, this is one sure way and I think it would work quite well.

Vness10

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Quote from: Kelvinovie2 on October 05, 2018, 08:51:13 AM

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?

It depends to situation like example we die but forget to give some information to trusted people about to our funds in crypto even password. And some situation that we die on the spot and ni one to your family knows about your crypto funds. There's so many circumstances that need to be concluded we don't know what will happen to us every day. So my suggestion better to write it it to a paper so what ever happen your family retrieve your funds.

zerocashdev

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Then this wallet will become a national treasure and will be transferred to the museum so that people admire it Cheesy

but in truth I think people will find a way to open it in our high-tech world.

Aiberg

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CCECOIN

This is a very valid question and I once worked as a bounty hunter on a project that aims to solve this problem by using blockchain technology to solve the problem of crypto inheritance, the idea behind it is quite genius I have to admit.

kolonel_x

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Activity: 1092

Merit: 250

Quote from: gerbas on October 31, 2018, 02:27:44 AM

If no one have our private key, then everything will done. no one will be able to access that fund, and it will stay in our wallet for ever. I think that could be a bit disappointing to have that only possibilities.

well you are very right, this problem has been repeated many times and there is no other way to get access to the wallet. we let it all go away.maybe in the future there will be a new revolution for this case

gerbas

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If no one have our private key, then everything will done. no one will be able to access that fund, and it will stay in our wallet for ever. I think that could be a bit disappointing to have that only possibilities.

moanna123

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the crypto has its own wallet pirvate key and i think have to share at least with one member of the family in order to get access after you die but the one who you really trust.

bdc2343

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This is probably a fun joke you made, but I think your Crypto and I are sure to have a second person as well like my wife and I know. You probably have not thought of it, but I'm sure there will be someone who knows your password too, and that person is lonely with you to be more trustful after you die that the password still exists. Grin

puremage111

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Quote from: Kelvinovie2 on October 05, 2018, 08:51:13 AM

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?

That's the problem and i know there were certain project are doing something like a Will with smart contract
I am not sure how it can be coded to such that you can move funds from other wallet where you don't access to private key but i believe everything could be coded.

Perhaps you parents would have access to this certain Ethereum Address, you know that they doesn't know about privacy and security. Hence this is why custodian service is out there to help and secure people's wallet.
So lets say you are dead, after X amount of days when wallet is inactive, there will be an execution of all the ERC 20 tokens to your designed designated wallet address.

I believe this should be the way

olsyd

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Quote from: Kelvinovie2 on October 05, 2018, 08:51:13 AM

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?

Probably in the near future, we will see secure storages something like electronic cells that keep keys and passwords to the wallets of their owners

gelinshidong

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Activity: 459

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People with such ideas are usually very wealthy, and these people usually have their own solutions, such as assigning coins to the next generation in advance. They are unlikely to ignore this important phenomenon. If it is then the coin will disappear.

Topic: Crypto After Death? - page 6. (Read 20835 times)