Did you share your key to your family? - page 3.

TelolettOm

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Actually yes, my core family knows about my job and where I save the data about cryptocurrency although they may not exactly understand about this.
I have no wonder or worries about this because I love them and I trust them so much. We are living together and sharing together, so it is not matter if they also know about this.
But as other members here said also that trust only people that you can exactly trust, not other people who may cheat you from the back.

Quote from: aysg76 on March 26, 2022, 04:08:49 AM

I would disagree on this part because there seems to be some trust issues on your part as comparison of family members can't be done with strangers you met on bus stop.You can give lessons to your any family member like how to use wallets and what are seed phrases so in case they need it they can easily use it.

Normally yes, but once more, this will also depend on what kind of family he has, maybe he has some certain issues that make him not trust his family.
Maybe he has some problems with this.
But if this is about the condition that as he said about his family (know nothing about crypto), I agree with you that he may also at least tell the family about it in common. So, if something happens, at least he can leave something good for his family.
But once more, this will depend on what kind of family he is in.

Bhig Daddy

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I wouldn't share my key to to anyone in my family, almost the whole of my family members are into crypto so they know what it means. To me I don't even think it safe to share it to anyone, it meant fo you alone. I know your funds will be of no use when you dead but is safer lose your funds when u dead than losing it When you alive.

Eureka_07

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Quote from: Chipard on March 24, 2022, 07:38:36 AM

We can't escape death and we don't know when we die... Crypto wallets aren't like traditional investments. They can be more vulnerable to security issues, and you generally can't name a beneficiary. Since we need to store our crypto to offline wallet or hardware wallet and we must store safely and secure our keys offline, did you already share your key to your family? Do you have any tips to make a good plan to your crypto assets for loved ones just in case when you die?

I once shared my seed phrases for my wallets, but I switch to another wallet, since then I still wasn't able to give the new phrases on my closest member of the family.
But in the case of death, I guess, we could use different kind of storages in which our seed phrases, passwords, etc. are there. They could also be somehow encrypted which your family knows how to decrypt it (just for the sake of extra security).

Daniel91

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I live with family members who are not interested in crypto at all, and consider it something very risky.
Because of that, it is very difficult for me to share something with them and it will take more time for that.
Still, they know where I keep my ledger and where the basic information is written.
If something happens to me, they also know a few of my friends who are in the crypto industry, and who will be able to help them access my crypto assets.
I can't do better than that right now Cheesy

Mpamaegbu

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Quote from: hosseinimr93 on March 24, 2022, 08:45:38 AM

If you want someone to have access to your bitcoin after your death, you can use locktime feature.
With locktime, you can make a transaction which will be valid after a certain time and can't be broadcast to the network before that.

Read the guide created by LoyceV.
Using Locktime for inheritance planning, backups or gifts

The truth is that no one knows what tomorrow holds or when they're likely to die. Except in the case of terminal illness getting the better of them which also allows them time to put certain things in order before their passing, a lot of people have died impromptu. In a case like that, of impromptu death, how would the person know what to do and what address to send to, especially if those to bequeath it to don't know jack about Bitcoin?

It's best to confide in a spouse for married folks. If one is married and believes working or hodling Bitcoin (or any alts), is for the betterment of a family, I think it's in order to let the spouse know how to recover passphrases or private keys in the case of an inventuality of death or incapacitation.

bill gator

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Replying to this thread might not be in the spirit of OpSec, and sharing your keys might not be in the spirit of BTC.

The decision to share your keys with anybody is a catastrophic risk, but deciding not to have a contingency plan for a worst case scenario is also a catastrophic risk.
It would come down to your temperament and particular situation.

Our beautiful technology can only solve most of our problems, not all of them.

BTC365COM

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Yes, I am actually planning to put it in a clear book together with my other documents.

My uncle passed away 2 years ago and when his wife went through his things, they just found out that he kept a savings account for them.
We're not sure what else he kept but it's really important to put them together in one place.

GeorgeJohn

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You don't have to make your private key known to each of your family member, even your wife or husband that's part of your body through marriage union don't have to it, because if anyone knows your keys, it's very obvious that your coins is not scured, but let them know the save where private key is been kept but let it be under your jurisdiction because of death, so that if death occur they can be able to have easy access to it.

boyptc

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Yes, I already did it but they have no idea what I've just said. What I've told them is that "these words are your money whenever I pass away".

And that's it.

The next thing for them to do is to learn how to they're going to import the private keys that I've written word per word and I've also said to them that they shouldn't share it to anyone but only to our own family, we live in the same house.

Altryist

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Quote from: Pmalek on March 26, 2022, 04:54:40 AM

That's kind of the point I was trying to make. I often hear the same as you. My wife doesn't know where my seed is because she might rob me and I don't trust her. Why is she your wife? You live in the same home, she can rob that too. She cooks for you and the kids, she can poison you. Many married couples have joint bank accounts. Adding Bitcoin to the equation shouldn't change anything.

Absolutely true remark, if you cannot trust the person with whom you live and sleep in the same bed, then why live with such a person? If something happens to me, then the wife must know where the seed is stored so that she has the opportunity to receive these funds. If a family has separate budgets, then it is no longer a family in my understanding, it is a kind of union of two distant people.

BobK71

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Knowing that people can die at any time, we often do not inadvertently share wallet passwords randomly or with anyone else. Which is not profitable at all for the family. So we should all explain the passwords to someone in our family, which I have already done.

Dunamisx

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Quote from: Erumo on March 24, 2022, 12:25:01 PM

I would never share my keys with my family. First of all, these keys are mine, and I would like to keep them personal for as long as possible.

Does that mean you dont mind not making a provision for turnover to your family even if the worst happened everyone should struggle for a survival or you don't trust them even in benefiting from you.

Quote from: Erumo on March 24, 2022, 12:25:01 PM

Second, no one in my family understand what crypto is, how to use it and so on. Sharing keys to them will be dangerous. Same as leaving private key on a bus stop.

Then it is never too late to start a role in making them understand, if you really see the need for bitcoin globalization and acceptability through your impact then i think it start from the comfort of your home

coin-investor

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Quote from: Chipard on March 24, 2022, 07:38:36 AM

We can't escape death and we don't know when we die... Crypto wallets aren't like traditional investments. They can be more vulnerable to security issues, and you generally can't name a beneficiary. Since we need to store our crypto to offline wallet or hardware wallet and we must store safely and secure our keys offline, did you already share your key to your family? Do you have any tips to make a good plan to your crypto assets for loved ones just in case when you die?

Crypto assets can be inherited, you can make a will and only they can open it at the right time but never share your private keys to any of your family when it's not yet time, not because you don't trust them but they might spill it to other people, you can create a will where they need to learn more about Cryptocurrency before they can inherit but as long as you are alive you should be the only one to know your private key.

Pmalek

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Quote from: Rikafip on March 26, 2022, 03:27:06 AM

While certain level of caution is always good, people here are often too paranoid and not even willing to let their wives know about Bitcoin/seed phrases etc. If I couldn't trust my wife with something like that, I would seriously think about my own judgement and who I married.

That's kind of the point I was trying to make. I often hear the same as you. My wife doesn't know where my seed is because she might rob me and I don't trust her. Why is she your wife? You live in the same home, she can rob that too. She cooks for you and the kids, she can poison you. Many married couples have joint bank accounts. Adding Bitcoin to the equation shouldn't change anything.

hosseinimr93

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Quote from: CryptoHeadlineNews on March 26, 2022, 03:45:39 AM

So it is idea to share your passphrase with a trusted family members, but not the amount in it (Be wise) because some of them can kill you just because of your own money.

I feel you are confusing passphrase with seed phrase.
Seed phrase: A series of words (usually 12 or 24 words)
Passphrase: A word which is added to your seed phrase for more security

Also, anyone who has access to your seed phrase can easily import it to a wallet and know the amount of bitcoin you have. They don't need you to tell them the balance.

aysg76

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I have told my family members already about the funds I am holding and they also are familiar about it's usage so it's not a problem for me but the seed phrase have been stored safely with backup at some places out of which one is known to them but the key always remain with me to that storage.In the time they can use those funds in a way they find suitable.

But the thing is you keep them safe in much better way so the backup of the seed is never in wrong hands like if you don't have anyone to trust then keep the secret buried in your heart.

Your lost coins will make others more expensive so keep this in mind.

Quote from: Erumo on March 24, 2022, 12:25:01 PM

I would never share my keys with my family. First of all, these keys are mine, and I would like to keep them personal for as long as possible. Second, no one in my family understand what crypto is, how to use it and so on. Sharing keys to them will be dangerous. Same as leaving private key on a bus stop.

I would disagree on this part because there seems to be some trust issues on your part as comparison of family members can't be done with strangers you met on bus stop.You can give lessons to your any family member like how to use wallets and what are seed phrases so in case they need it they can easily use it.

Life is totally unpredictable so it's better not to burn your coins and tell any of your family members about it so if you are not able to use it they can for their betterment.

joker_josue

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Quote from: Rikafip on March 26, 2022, 03:27:06 AM

With that being said, I shared my keys with two trusted family members that live separately, which is also something to think about as you don't wanna keep all your keys in the same place as bad stuff like fire can always happen.

That's an interesting point.
Even being people who are less likely to not be with us at the same time. Because a car accident can happen, for example, and the probability of being with our wife / husband is greater than being with a certain trusted friend.

I think we should always think of all scenarios, and try to look for the best options available. Furthermore, if something happens to the person we initially trusted with the data, we can always switch the coins to another wallet.

CryptoHeadlineNews

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This has made many well to do families who were living very ok in the city pack to the village after the death of a sole benefactor.

So it is actually a good question that needs urgent answer that should be a headline on our major crypto news papers or website.

It is one big mistake many people have made and some are still yet to make in the future, all because of ignorance, and that's why I thank God for forums like "bitcointalk dot org" where we are giving the opportunity to discuss issues like this which is affecting we the crypto lovers both online and the physical..

So it is idea to share your passphrase with a trusted family members, but not the amount in it (Be wise) because some of them can kill you just because of your own money.

So in whatever thing we are doing, we just have to put common sense. Thanks

Rikafip

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Quote from: Pmalek on March 26, 2022, 02:46:37 AM

It's your family, if you don't trust them, who do you trust, and why would a person have one if that's the case? Your family can hurt you with or without Bitcoin.

I think that it's important to differentiate trusted persons and family members as those two things are not necessarily the same. While you can chose your wife, you can't chose the family you are born into and unfortunately some people are born into shitty ones where you can't trust anyone with your money.

Quote from: Pmalek on March 26, 2022, 02:46:37 AM

If you think that way, you are in danger of being stabbed, poisoned, robbed and strangled all the time.

While certain level of caution is always good, people here are often too paranoid and not even willing to let their wives know about Bitcoin/seed phrases etc. If I couldn't trust my wife with something like that, I would seriously think about my own judgement and who I married.

With that being said, I shared my keys with two trusted family members that live separately, which is also something to think about as you don't wanna keep all your keys in the same place as bad stuff like fire can always happen.

Pmalek

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Quote from: Despairo on March 24, 2022, 10:28:50 PM

1. Encrypt each words of seed pharse and split each words in multiples locations.

That's too dangerous. Especially if we are talking about only one copy per split. Losing one of the parts is equal to losing all of them. Bruteforcing 8-9 words is still considered close to impossible with today's hardware. Some of the most popular Bitcoin advocates like Andreas Antonopoulos have said many times that people should not create their own security models. It's better to use working systems instead of overdoing it.

Quote from: Despairo on March 24, 2022, 10:28:50 PM

...perhaps an average human only live 100 years, so you can create a transactions to your son's address on specific times.

Compared to the above-average humans who live 120-130 years? Tongue

I don't think so.

Quote from: Charles-Tim on March 25, 2022, 04:13:15 AM

If you share your seed phrase or key(s) with your family, that means everyone you share it with can compromise the wallet without you knowing, this is not advisable at all.

They don't need to have the necessary keys on hand, but they should know how to get them if something happens to you. It's your family, if you don't trust them, who do you trust, and why would a person have one if that's the case? Your family can hurt you with or without Bitcoin. If you think that way, you are in danger of being stabbed, poisoned, robbed and strangled all the time.

Topic: Did you share your key to your family? - page 3. (Read 733 times)