In this world we live in (and we can even see this also a feature of Bitcoin) there is nothing guaranteed we are all surrounded by uncertainties sometimes everything can be a gamble. No one can precisely predict what can happen tomorrow or in the near future sure we can plan but not all of our plans do come true. In other words, we are really all humans.
As for my Bitcoin transactions, I make sure that am putting them on a notebook which my family can have access when I am unfortunately gone to the next level of existence. Hope they can use it for their own good and continue on have a faith that Bitcoin is the future and the next phase of our economic ecosystem.
Topic: How do you plan to pass on your bitcoin inhertance - page 2. (Read 1628 times)
Lets face it HBB (hit by a bus) can happen any time
what is you mechanism or plan to inherent you BTC to your loved ones?
particularly if they are not IT literate.
In my view A person could easily loose your coins in so many ways if you do not understand what you are doing.
Well honestly i don't like to die by hitting by bus or any vehicle but back on the topic since accidents happens anytime and we don't know when it happen so, i told my family mostly my sister since she has more understanding in technology and told her most of the bitcoin's technology. what is you mechanism or plan to inherent you BTC to your loved ones?
particularly if they are not IT literate.
In my view A person could easily loose your coins in so many ways if you do not understand what you are doing.
First i explain to my brother what is bitcoin how it works and the bitcoin basic like different types of wallet, then i also encouraged him to read news about bitcoin so he can keep track what is new and after that we will work together to earn bitcoins.
Thats just simple.Not IT literate person only uses bitcoins,there are some who just love using and have knowledge unto bitcoins but not totally an fan of IT and technology.Just explain it to your closest love ones i think the best way
Lets face it HBB (hit by a bus) can happen any time
what is you mechanism or plan to inherent you BTC to your loved ones?
particularly if they are not IT literate.
In my view A person could easily loose your coins in so many ways if you do not understand what you are doing.
what is you mechanism or plan to inherent you BTC to your loved ones?
particularly if they are not IT literate.
In my view A person could easily loose your coins in so many ways if you do not understand what you are doing.
I would probably just leave my master seed in my will and split up my bitcoin into different wallets so it is spit evenly, hopefuly someone in my family knows about bitcoin and the techy stuff. Instruction my will will probably be cruical.
Start to teach them now, let someone you can trust learn about bitcoin and let them handle everything if you die if you don't have one then don't save money donate it spend it buy everything you want and enjoy it while you can.
Interesting topic. Anything can happen and we should take precaution for the safe future of our family. I am maintaining cold storage as my main destination for long-term savings and I have created a set of paper wallet + instructions to recover the Bitcoins lying that wallet. I have also created soft copies and stored it in various non-internet storage devices as a backup. In the case of my inability to instruct or pass my bitcoins to my family, I am sure my family members will be able to recover it. I also try to explain them about how it works and basic stuff regarding it.
Lets face it HBB (hit by a bus) can happen any time
what is you mechanism or plan to inherent you BTC to your loved ones?
particularly if they are not IT literate.
In my view A person could easily loose your coins in so many ways if you do not understand what you are doing.
what is you mechanism or plan to inherent you BTC to your loved ones?
particularly if they are not IT literate.
In my view A person could easily loose your coins in so many ways if you do not understand what you are doing.
That would be a problem if ever they are not a computer literated or they don't even know how to use a computer basically, but in my situation every member of my family are computer literated I already told some of them what is bitcoin yet they don't understand deeply how is it working as of now I haven't made a plan yet because for me it's too early to bother myself about that
I'm thinking of sharing my private keys, passwords and how to use them with a couple of people in my life that I trust the most. I think it is quite important to do that especially if you have some decent amount that can actually be put to use.
I'll definitely be passing it on to my family and kids.
I'll definitely be passing it on to my family and kids.
Lets face it HBB (hit by a bus) can happen any time
what is you mechanism or plan to inherent you BTC to your loved ones?
particularly if they are not IT literate.
In my view A person could easily loose your coins in so many ways if you do not understand what you are doing.
what is you mechanism or plan to inherent you BTC to your loved ones?
particularly if they are not IT literate.
In my view A person could easily loose your coins in so many ways if you do not understand what you are doing.
I would probably just leave my master seed in my will and split up my bitcoin into different wallets so it is spit evenly, hopefuly someone in my family knows about bitcoin and the techy stuff. Instruction my will will probably be cruical.
Lets face it HBB (hit by a bus) can happen any time
what is you mechanism or plan to inherent you BTC to your loved ones?
particularly if they are not IT literate.
In my view A person could easily loose your coins in so many ways if you do not understand what you are doing.
I agree that one should plan for uncertainty because it does not give notice of its happening do for me, not necessarily hit by a bus but any other time what I do just make sure someone I trusted is already aware of what I do to the fullest and the only thing the person does not know is just my passwords and that is the only thing left which I am planning to write somewhere the only person that can have access to it is that same person and with that I am good to go. what is you mechanism or plan to inherent you BTC to your loved ones?
particularly if they are not IT literate.
In my view A person could easily loose your coins in so many ways if you do not understand what you are doing.
Master seed in my will left at the family lawyer.
....whats to stop the lawyer absconding with your sqillions?
Lets face it HBB (hit by a bus) can happen any time
what is you mechanism or plan to inherent you BTC to your loved ones?
particularly if they are not IT literate.
In my view A person could easily loose your coins in so many ways if you do not understand what you are doing.
This is a big reality , that how to insurance our Bitcoin so that atleast we can give the benefits of the Bitcoin to our family after the accident or any bad thing happened .what is you mechanism or plan to inherent you BTC to your loved ones?
particularly if they are not IT literate.
In my view A person could easily loose your coins in so many ways if you do not understand what you are doing.
Here I am using Bitcoin from 3 years more but still my family ( where I am a small member ) don't know about the Bitcoin that how to deal and use and what will happen they don't want understand even I tried to explain , so I think it is more better for us that we should hire a friend ( 1000% trusted ) and tell them that if you get died then help my family to collect all the money from Bitcoin and at all other sites another money because friend can do everything and no one .
And also I am thinking that one of the family member should be reached about the Bitcoin that how to use Bitcoin private key of the address and then told him where you putted your private key , so that if any problem happen then they can access atleast your savings .
Just find someone in your family line that has a bit knowledge about those techy things and can understand bitcoins totally,its not that hard me if i were in that case i already teaches my younger brother in case something happen to me he can still continue this
Basically it'll go to my current family. If I died early then it will go to my parents/siblings and if older then to my kids. Regarding with handling the coins well and retrieving it. you
don't really have to be an IT literate to do that. I don't know with the older people but young peoople these days are easy to adapt with technology. if you're going to leave a
note at least leave a instruction. its an obvious thing to do if you know that those people have no idea of what you're talking about.
don't really have to be an IT literate to do that. I don't know with the older people but young peoople these days are easy to adapt with technology. if you're going to leave a
note at least leave a instruction. its an obvious thing to do if you know that those people have no idea of what you're talking about.
Bitcoin is now an investment portfolio, so you should prepare it in any way all your family will understand how it works by preparing a video or writing notes or articles on how your bitcoin can be traded to fiat money but you should prepare it now,while you are still alive by explaining to your family.
Write a note about it, say you have Bitcoins (Digital Currency) ~worth how much, then leave your details to how you can access it. Just give a short summary about Bitcoin and hope that they Google it and get the Bitcoins! 
Not so sure about Bitcoin Inheritance, seems cool, treating an investment as an asset. May not be so safe if the inheritor does not know much (or nothing) about Bitcoin.
Not so sure about Bitcoin Inheritance, seems cool, treating an investment as an asset. May not be so safe if the inheritor does not know much (or nothing) about Bitcoin.
Lets face it HBB (hit by a bus) can happen any time
what is you mechanism or plan to inherent you BTC to your loved ones?
particularly if they are not IT literate.
In my view A person could easily loose your coins in so many ways if you do not understand what you are doing.
what is you mechanism or plan to inherent you BTC to your loved ones?
particularly if they are not IT literate.
In my view A person could easily loose your coins in so many ways if you do not understand what you are doing.
So basically you are saying that what happens when some one passes away and his loved one does not know about his coins. One way I feel, is to let the closed ones know that one has Bitcoins. Secondly then give them a demo how to recover them in case anything happens. However hide the private key and leave clues to find it. That's the only way.
I have certain people that I trust will be able to help my not so Bitcoin literate loved ones.
The people around me know that I am into cryptos so that's probably step one.
Then there are certain family members that have been in crypto as long as I have that will be able to figure out how to access my coins if they really need to.
Then there are certain family members that have been in crypto as long as I have that will be able to figure out how to access my coins if they really need to.
Teach it to my family the next few days or years, when they both understand itwell and knows how to make it more profitable or useful. It really be a good way to earn and to make as a business . It will nake our future better.
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