Hypothetically keeping your bitcoin when you die?

_Miracle

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Quote from: ChiBitCTy on February 25, 2022, 08:45:23 AM

Well we will have have to ask Hal Finney when he wakes up from his cryogenically frozen state, how he went about storing his bitcoin. Hal being the first person to ever receive a transaction from satoshi obviously makes him a prime suspect for being Satoshi and then having his head frozen, maybe that huge wallet is his just sitting and waiting for him.

I would +10 that if I could ;-)

ChiBitCTy

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Well we will have have to ask Hal Finney when he wakes up from his cryogenically frozen state, how he went about storing his bitcoin. Hal being the first person to ever receive a transaction from satoshi obviously makes him a prime suspect for being Satoshi and then having his head frozen, maybe that huge wallet is his just sitting and waiting for him.

pinggoki

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Quote from: savetheFORUM on February 25, 2022, 07:18:06 AM

Quote from: pinggoki on February 24, 2022, 05:26:03 AM

That 10 years is still a speculation though, I think that we have to eventually branch out in all those 10 years instead of just relying on bitcoin because as I've said, it's speculation and we don't know which way bitcoin will go, will it go up, will it go down or will it plateau. I think that it's the least of my problem when I die, maybe by that time, I would have everything set to be inherited by the next of kin.

Thank you for making that point. Some of us here think that Bitcoin is the only thing that they should be doing, and once they are making profit from it, it is not enough, but that is not right. I invest and trade Bitcoin and other altcoins in the market, but that doesn’t mean I am just stuck to this, I have other Businesses that I am doing.

Before I started investing in Bitcoin I have been into interior decoration for some years, although Bitcoin was able to make me a lot of money, that didn’t stop me from doing what I was doing before, rather I used the money made through Bitcoin to invest in my business and made it bigger, now I’ve been making more money from my Business and that has been able to sustain me more than enough, even now that Bitcoin has been bearish. So, it’s good to invest in our business.

I'm just trying to point out the obvious and I think that branching out your investments is the right thing to do, that's what I've learned from my successful friends and I think that it's the most sensible things. I congratulate and I aspire to be like you, you're probably making millions already because you're an interior decorator businessperson and I aspire to be that successful that I don't worry about money anymore.

Marykeller

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This is the exert thing that most politicians normally do. Saving up much wealth for the next generation, which they will not see or know. Nobody knows whether their next generation will utilize the wealth kept for them well when they are gone.
It's possible that bitcoin may or may not be in existence by then. Trade your bitcoin when you are alive not when you're gone cos it can't be recover

asus09

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Quote from: coupable on February 07, 2022, 04:43:06 PM

I would rather prefer spending all the money during my natural life than holding any amount to spend after 100 years. You will never be able to have a normal life after being absent for 100 years.
Does it make sense for you that someone try to find an answer for such an imaginary scene?

I totally agree with all of your reviews, we don't need to keep all the bitcoins we have until we die, what we need to do is bequeath bitcoins to people we love, don't imagine bitcoins for our death, while we are still alive buy what you need ,it's better than us saving bitcoins until we die..

savetheFORUM

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Quote from: pinggoki on February 24, 2022, 05:26:03 AM

Quote from: JahriMeayer on February 23, 2022, 04:43:12 PM

We don't know about future, whether such technology will come or not. Bitcoin might have touch million of dollars or more but i don't think any of us could alive for next 100 years. rent out the safe box at bank, also bad ideas cause 99.99% chance that you were unable to get back and your assets would have gone forever. so its good idea to think and plan about bitcoin for now. But why need 100 years? I think After 10 years of holding bitcoin, also could give you satisfactory return IMHO

That 10 years is still a speculation though, I think that we have to eventually branch out in all those 10 years instead of just relying on bitcoin because as I've said, it's speculation and we don't know which way bitcoin will go, will it go up, will it go down or will it plateau. I think that it's the least of my problem when I die, maybe by that time, I would have everything set to be inherited by the next of kin.

Thank you for making that point. Some of us here think that Bitcoin is the only thing that they should be doing, and once they are making profit from it, it is not enough, but that is not right. I invest and trade Bitcoin and other altcoins in the market, but that doesn’t mean I am just stuck to this, I have other Businesses that I am doing.

Before I started investing in Bitcoin I have been into interior decoration for some years, although Bitcoin was able to make me a lot of money, that didn’t stop me from doing what I was doing before, rather I used the money made through Bitcoin to invest in my business and made it bigger, now I’ve been making more money from my Business and that has been able to sustain me more than enough, even now that Bitcoin has been bearish. So, it’s good to invest in our business.

noormcs5

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Quote from: worle1bm on February 22, 2022, 01:20:38 AM

We don't know how much technology will be advanced in the future but bringing back the dead one's seems only fictional to me and will not be possible.So this is your thoughts only and why are you assuming to be immortal? You can spend your btc within few years and live life happily and in good manner.So why have the wish for next few hundred years or maybe btc won't be there so what will you do at that time? Enjoy the things at the time and rest we can't say what will happen in future.

This is just like a fairy tale where humans can be frozen and/or become alive after death. We are not superman, spiderman or other movie characters. I understand when people see such types of movies, they daydream of becoming such heros which is not possible.

The fact of life is that you have only 50-80 years of life and you need to spend your bitcoin within this period. No point in keeping them unless you want to gift them to your family.

redsun114

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Lol, that question makes you seem like you’re holding on too much to this life. Just let it go. This life is once, leave people who feel they can be revived to live a second life on this earth to wander in their delusional thoughts. A man has a soul and once you’re dead, your soul is gone from this world, to another dimension, for good and no amount of technology is bringing that soul, which is your true self, back into this body.

So, my advice would be to live the best life you can, enjoy, make the best life for your children and your generation to come, and also for those around you. Even if there is a chance that your body would given another by technology in the future, trust me, it is not going to be you in that body, but something else.

pawanjain

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Nothing lasts forever

Speaking hypothetically even if consider humans have learnt how to bring back people from frozen state who would be there to pay the expense of getting you unfrozen ?
Even if someone paid the bills for that and gets you unfrozen what are the chances that you will survive well or will remember everything
What if bitcoin failed terribly and people have even forgot about it ?
Even then if we consider everything goes well, may be being a billionaire is not such bug deal in future since people will start earning more and spending more.
Even after that may be you become the wealthiest person what if someone steals your money or gets you killed for it.
There are too many hypothetical situations that can occur.

Chato1977

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I will never be stupid to be one , because why would i ever risk my bitcoin in something with no assurance when my family is getting hungry? i would rather give them the Bitcoin and let them spend as i work for it harder.
never do this experiment because you'll never know what would happen in the future.

pinggoki

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Quote from: JahriMeayer on February 23, 2022, 04:43:12 PM

We don't know about future, whether such technology will come or not. Bitcoin might have touch million of dollars or more but i don't think any of us could alive for next 100 years. rent out the safe box at bank, also bad ideas cause 99.99% chance that you were unable to get back and your assets would have gone forever. so its good idea to think and plan about bitcoin for now. But why need 100 years? I think After 10 years of holding bitcoin, also could give you satisfactory return IMHO

That 10 years is still a speculation though, I think that we have to eventually branch out in all those 10 years instead of just relying on bitcoin because as I've said, it's speculation and we don't know which way bitcoin will go, will it go up, will it go down or will it plateau. I think that it's the least of my problem when I die, maybe by that time, I would have everything set to be inherited by the next of kin.

arwin100

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In this case make sure that there are people who knows about what you are doing on internet and allow people who's near you like your wife,mother or as you said your child that you have bitcoin investment and the seedphrase is at your computer or wherever you stored it then use it in times of emergency. From this you can assure that your balances will be used for good and will not left dead the same as you.

pieppiep

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Quote from: doomloop on February 24, 2022, 02:49:11 AM

First you must ask your self if you believe on this. If yes then you shouldn't wait for this to happen because no one will give you a warning if when will it happen but you should start separating a btc now and keep the keys in the place that you desire and this place should still be access even in the future.

I think this part is a little bit tricky. Because, you wont know maybe your own house can get destroyed but I think it safe to keep the keys in an underground spot because your sure that one will find that out. This will only be sad when you know that your the only one that is alive but your parents and your siblings wont resurrect anymore. It will still be hard for you to enjoy your btc.

Between believing and not believing but in my heart, there is a possibility that it could happen in the future because I see there have been a lot of technological developments that we have seen so far. So we can prepare what is necessary, including saving the key and giving some of the btc as an inheritance to our children and grandchildren later.

There is a possibility that the house we live in will be destroyed. But hopefully, our place for hibernation will not destroy because maybe it will receive facilities from the local government or we have prepared a separate place from the crowd. Yes, maybe we will feel sad to see there are no more people we know but with our children and grandchildren, at least it can cheer us up to enjoy a second chance.

doomloop

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Quote from: pieppiep on February 22, 2022, 09:27:42 AM

Freeze ourselves? Hm, your imagination is too high. But if that is opportunity comes to me, I think I will hide my btc, including my private keys that only I knows the place and I will not let other people know about that. Maybe I will give some amount to my family and let them use it for their benefit. Besides that, I will give them an envelope with a letter inside that envelope as my legacy that they must give to their children and grandchildren so when I wake up again in the next 100 years, they can give that letter to me. I think a paper will be rare at that time, so they must take care of it.

First you must ask your self if you believe on this. If yes then you shouldn't wait for this to happen because no one will give you a warning if when will it happen but you should start separating a btc now and keep the keys in the place that you desire and this place should still be access even in the future.

I think this part is a little bit tricky. Because, you wont know maybe your own house can get destroyed but I think it safe to keep the keys in an underground spot because your sure that one will find that out. This will only be sad when you know that your the only one that is alive but your parents and your siblings wont resurrect anymore. It will still be hard for you to enjoy your btc.

nur rochid

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Quote from: JahriMeayer on February 23, 2022, 04:43:12 PM

We don't know about future, whether such technology will come or not. Bitcoin might have touch million of dollars or more but i don't think any of us could alive for next 100 years. rent out the safe box at bank, also bad ideas cause 99.99% chance that you were unable to get back and your assets would have gone forever. so its good idea to think and plan about bitcoin for now. But why need 100 years? I think After 10 years of holding bitcoin, also could give you satisfactory return IMHO

for me it is not good if we always hold all the bitcoins that we have for 100 years, of course while we are still alive and have a satisfactory profit why don't we diversify some of our results into other assets, and of course we deserve to use it for the welfare of our lives and leave some bitcoin for our children and grandchildren, if our lives are considered sufficient

JahriMeayer

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We don't know about future, whether such technology will come or not. Bitcoin might have touch million of dollars or more but i don't think any of us could alive for next 100 years. rent out the safe box at bank, also bad ideas cause 99.99% chance that you were unable to get back and your assets would have gone forever. so its good idea to think and plan about bitcoin for now. But why need 100 years? I think After 10 years of holding bitcoin, also could give you satisfactory return IMHO

pieppiep

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Quote from: coolcoinz on February 22, 2022, 06:36:25 PM

What will you write in this letter? Some hints to remind yourself the password for your wallet? What will happen if your memory gets wiped 100% and there's nothing to remind yourself of left in there? You'd have to either write down the wallet passphrase or mnemonic phrases but this will allow your children to get the money without waking you. You see, the problem is when you're dead you don't need money and everything is out of your hands. They can wake you up or not, they can steal your coins or not, don't worry about the things you'll never be able to control.

If you leave control of the money to an AI you risk it being hacked. If you live it to a friend, you risk him taking it all without having to wake you up later. If you hide it you risk not remembering where it was, and so on.

If there is a technology that can make us hibernate, there will be technology for us to use to recall memories. Maybe it will become a kind of memory bank for the memories of everyone who is hibernated. Once my memory is fully recovered, I can do what I want.

As long as my children and grandchildren can keep what I have told them, then there is nothing to worry about, especially since we can leave another legacy that they can use.

Quote from: Lanatsa on February 22, 2022, 06:44:33 PM

Could be possible but into some certain extreme extent on setting up all of it according to your likes or preference but with due technology enhancement and development then we could possibly able to do so but just still some sort of sci-fi scenario that's why lets not talk about that.

When you are really that minding about passing those coins for inheritance in case you die then it isn't bad to make or put it up into some will incase you pass away plus having
those set of instructions on how to access it out.

It hasn't happened yet and yes, we can only speculate and imagine what the future might hold and how long we can live. But there is a possibility that such technology will occur in human life and we may not be able to see it.

If we leave the coin as an inheritance, we can teach them how to use it properly and as long as we are alive, they will surely learn a valuable lesson from us. So if we are dead, they will have no trouble because we have taught them a lot of lessons and they can also look for lessons on the internet.

Lanatsa

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Quote from: pieppiep on February 22, 2022, 09:27:42 AM

Freeze ourselves? Hm, your imagination is too high. But if that is opportunity comes to me, I think I will hide my btc, including my private keys that only I knows the place and I will not let other people know about that. Maybe I will give some amount to my family and let them use it for their benefit. Besides that, I will give them an envelope with a letter inside that envelope as my legacy that they must give to their children and grandchildren so when I wake up again in the next 100 years, they can give that letter to me. I think a paper will be rare at that time, so they must take care of it.

Could be possible but into some certain extreme extent on setting up all of it according to your likes or preference but with due technology enhancement and development then we could possibly able to do so but just still some sort of sci-fi scenario that's why lets not talk about that.

When you are really that minding about passing those coins for inheritance in case you die then it isn't bad to make or put it up into some will incase you pass away plus having
those set of instructions on how to access it out.

coolcoinz

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Quote from: pieppiep on February 22, 2022, 11:41:43 AM

That's why I intend to leave a letter for my children and grandchildren and keep it until I can wake up later. So they can give me the letter and help me remember it again. Maybe I can't remember it for a while but I will be able to remember it again with the help of my children, grandchildren or great-grandchildren later.

What will you write in this letter? Some hints to remind yourself the password for your wallet? What will happen if your memory gets wiped 100% and there's nothing to remind yourself of left in there? You'd have to either write down the wallet passphrase or mnemonic phrases but this will allow your children to get the money without waking you. You see, the problem is when you're dead you don't need money and everything is out of your hands. They can wake you up or not, they can steal your coins or not, don't worry about the things you'll never be able to control.

If you leave control of the money to an AI you risk it being hacked. If you live it to a friend, you risk him taking it all without having to wake you up later. If you hide it you risk not remembering where it was, and so on.

pieppiep

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Quote from: coolcoinz on February 22, 2022, 09:44:49 AM

Quote from: pieppiep on February 22, 2022, 09:27:42 AM

Freeze ourselves? Hm, your imagination is too high.

That's a hypothetical question. We can assume that this will be possible in the next 100 years. Don't forget that bringing someone back to life by use of electric shock was unknown in the 19th century and now defib units are very common. Every ER unit has one.

Yes, it could happen in the next 100 years. But we must know how old are we now? Compare when that technology is used in the next few years or decades with how much longer we can live.

Quote from: coolcoinz on February 22, 2022, 09:44:49 AM

Quote from: pieppiep on February 22, 2022, 09:27:42 AM

But if that is opportunity comes to me, I think I will hide my btc, including my private keys that only I knows the place and I will not let other people know about that.

This was discussed before. You may not remember anything when you wake up and leaving clues may lead to people finding your coins before you're brought back to life.

When you die all you have goes out of your control. Material things don't matter anymore especially if you don't know how long it will take before someone decides to wake you up. Maybe it will be in 300 years when there's no bitcoin anymore.

That's why I intend to leave a letter for my children and grandchildren and keep it until I can wake up later. So they can give me the letter and help me remember it again. Maybe I can't remember it for a while but I will be able to remember it again with the help of my children, grandchildren or great-grandchildren later.

Topic: Hypothetically keeping your bitcoin when you die? (Read 437 times)