Topic: If only property I have is bitcoin (Read 888 times)
i believe in every family there is one or two person that you can trust such that you can hand over your seed phrase to them and instruct on what to do if you pass away. if there is more than one person you can trust then you can share the BTC into the number of persons and share one phrase to each of them. Alternatively you can input it in your will and instruct on how it will be handled.
It totally depends on you and your family members.
If you want your property to be enjoyed by your family after my death then you can definitely give. But this is what everyone wants so that after death his family should enjoy without wasting his money. But the question is, should you tell them about your bitcoin holdings while you're alive? If you have a trusted person then you can say.If you are not faithful, you may lose your lifetime money. For that you keep your Bitcoin accoint security in such a way that no one can access it except your device. Then you can tell them everything about you. So that they can enjoy your bitcoins from your device after death.
If you want your property to be enjoyed by your family after my death then you can definitely give. But this is what everyone wants so that after death his family should enjoy without wasting his money. But the question is, should you tell them about your bitcoin holdings while you're alive? If you have a trusted person then you can say.If you are not faithful, you may lose your lifetime money. For that you keep your Bitcoin accoint security in such a way that no one can access it except your device. Then you can tell them everything about you. So that they can enjoy your bitcoins from your device after death.
you can entrust your seed phrase to someone you really trust and has good knowledge about bitcoin, maybe he will be able to develop your assets even more. or if you don't want to have someone you trust in your family, you can just leave your assets in your wallet because it's meaningless if you entrust your assets to someone who can't look after them and what's worse is that he uses your assets for negative things and i'm sure that you don't want that either.
Loved ones are turning to enemies, the divorce rate is rising and so many things are going wrong so trusting love one is becoming harder. Invest in Bitcoin and use your profits to invest in other business and have a will so if you die unexpectedly, the will can help distribute your wealth to your family.
If people fight and break up over money, it doesn't matter if it's bitcoin, or dollar, or gold, or just some pieces of paper. Bitcoin itself is not the cause of bad relationships. And if someone can't share a secret phrase with a wife or child, it means that they don't trust them in general, and not just being afraid for the crypto funds in their wallet. Because trust is not limited to only some issues, if it exists between close people. It is total.
Honestly, I don't know how people treat their wives or relatives. But for me, I invest in bitcoin or I do everything for them, my loved ones. Therefore, I have never hesitated to share my important things with them because those things also belong to them even though I am the one who created those things. Indeed, money is very important, but in this world there are things more important than money, once lost, it is very difficult to get it back.
You're right, if a marriage fails or relatives compete for each other's wealth, bitcoin or money is not the cause. The reason is due to our own stupid greed, we are too selfish and always calculating before our loved ones.
Loved ones are turning to enemies, the divorce rate is rising and so many things are going wrong so trusting love one is becoming harder. Invest in Bitcoin and use your profits to invest in other business and have a will so if you die unexpectedly, the will can help distribute your wealth to your family.
If people fight and break up over money, it doesn't matter if it's bitcoin, or dollar, or gold, or just some pieces of paper. Bitcoin itself is not the cause of bad relationships. And if someone can't share a secret phrase with a wife or child, it means that they don't trust them in general, and not just being afraid for the crypto funds in their wallet. Because trust is not limited to only some issues, if it exists between close people. It is total.
Loved ones are turning to enemies, the divorce rate is rising and so many things are going wrong so trusting love one is becoming harder. Invest in Bitcoin and use your profits to invest in other business and have a will so if you die unexpectedly, the will can help distribute your wealth to your family.
If people fight and break up over money, it doesn't matter if it's bitcoin, or dollar, or gold, or just some pieces of paper. Bitcoin itself is not the cause of bad relationships. And if someone can't share a secret phrase with a wife or child, it means that they don't trust them in general, and not just being afraid for the crypto funds in their wallet. Because trust is not limited to only some issues, if it exists between close people. It is total.
Loved ones are turning to enemies, the divorce rate is rising and so many things are going wrong so trusting love one is becoming harder. Invest in Bitcoin and use your profits to invest in other business and have a will so if you die unexpectedly, the will can help distribute your wealth to your family.
Divorce or relatives not trusting each other...all of those conflicts, we can control. if you always doubt your wife or loved ones just because of money, they have no reason to trust you. I believe that if you are sincere with them, they will do the same.
Bitcoin is just money and if we lose it, getting it back is not too difficult, but if the relationship between husband and wife breaks down, it will affect the future of your children. The happiness of a family depends entirely on us. don't ask others to be honest with you when you're doubting them too.
I see many bitcoin investors tend to be more suspicious of their loved ones when sharing seed phrases with loved ones, you guys seem to worship bitcoin, valuing bitcoin more than anything else. Bitcoin was not created to make relationships between relatives worse, that is not the purpose of Bitcoin.
Make sure your loved ones understand Bitcoin's significance, security, and risks before sharing your details. Inform them about data security and digital currency management.
Remember, you can recover lost money, but repairing a relationship? Different ballgame. Respect and open communication should be prioritised. It involves you and your family managing your resources wisely to retain security and confidence.
Loved ones are turning to enemies, the divorce rate is rising and so many things are going wrong so trusting love one is becoming harder. Invest in Bitcoin and use your profits to invest in other business and have a will so if you die unexpectedly, the will can help distribute your wealth to your family.
Divorce or relatives not trusting each other...all of those conflicts, we can control. if you always doubt your wife or loved ones just because of money, they have no reason to trust you. I believe that if you are sincere with them, they will do the same.
Bitcoin is just money and if we lose it, getting it back is not too difficult, but if the relationship between husband and wife breaks down, it will affect the future of your children. The happiness of a family depends entirely on us. don't ask others to be honest with you when you're doubting them too.
I see many bitcoin investors tend to be more suspicious of their loved ones when sharing seed phrases with loved ones, you guys seem to worship bitcoin, valuing bitcoin more than anything else. Bitcoin was not created to make relationships between relatives worse, that is not the purpose of Bitcoin.
Well it’s your family, I don’t think it is very hard choice to make if it’s your family and you trust at least one person who’s very close to you. Just hand over the keys to that particular person and forget about it. Since you are preparing yourself for not using the bitcoin and possibly just holding more then that’s the best option you have got. What else do you really expect from random answers about the seed phrase. You can’t just keep them hidden forever. It has to be passed on to someone so that they can avail the greatness of bitcoin. Otherwise they are just going to sit there forever if no one finds the keys. More or less this is applicable to all sort of properties and assets.
This is a problem that people have been talking about for a long time about Bitcoin. The only way is that you have to find someone you really trust to share private keys with. If you have a wife, then she is probably the right person, or you have a very trusted family.
However, you need to make preparations if you plan to make bitcoin your only property. However, the advice I have is that you should have other property to inherit, maybe you can use the bitcoins you currently have to build it little by little.
However, you need to make preparations if you plan to make bitcoin your only property. However, the advice I have is that you should have other property to inherit, maybe you can use the bitcoins you currently have to build it little by little.
Having just one investment is not good because anything can happen to that investment and when that happens you lose everything. You could make a mistake and expose your private keys and all your Bitcoin get stolen so having other investment is the best choice. And since you're looking to give your wealth to your family, investing in other things that can be passes on will be great and save you the stress of trusting someone with your private key.
Loved ones are turning to enemies, the divorce rate is rising and so many things are going wrong so trusting love one is becoming harder. Invest in Bitcoin and use your profits to invest in other business and have a will so if you die unexpectedly, the will can help distribute your wealth to your family.
Perhaps my wife is the person I will think of first because she is the one who is always by my side and will have a great responsibility in taking care of my children if something unexpected happens to me. If someone doesn't have a family, their parents are the people they should trust. I don't think anyone would be kind enough to leave a legacy to an outsider like Freedomgo is talking about, and I also don't believe there is anyone who doesn't have a relative.
Sometimes relationships with relatives are so bad and distant that you don’t want to leave anything for them. Moreover, often relatives cannot be trusted, as they can deceive, or they do not take cryptocurrencies seriously, and, accordingly, they don't take seriously what you are doing. Sometimes the best option is to leave investments to those who are in need, or to direct them to the development of an activity that you are passionate about, for example, an educational foundation or a theater studio.
Even the people who are there for you like your wife, who is always there for you even when you are at your poorest, are not trustworthy. Or the person who gave birth and raised you until you grow up and you don't trust them, then there is no one else in this world worthy of your trust. And for a person who always thinks that people always treat him badly, let's see who the cause comes from, what is certain that it is everyone's fault and not mine?
Many people don't take cryptocurrency seriously because they don't know its value but when you talk about its value, they will definitely pay attention and appreciate it just like you. Just like when you understand the true value of bitcoin, how much you love it.
Perhaps my wife is the person I will think of first because she is the one who is always by my side and will have a great responsibility in taking care of my children if something unexpected happens to me. If someone doesn't have a family, their parents are the people they should trust. I don't think anyone would be kind enough to leave a legacy to an outsider like Freedomgo is talking about, and I also don't believe there is anyone who doesn't have a relative.
Sometimes relationships with relatives are so bad and distant that you don’t want to leave anything for them. Moreover, often relatives cannot be trusted, as they can deceive, or they do not take cryptocurrencies seriously, and, accordingly, they don't take seriously what you are doing. Sometimes the best option is to leave investments to those who are in need, or to direct them to the development of an activity that you are passionate about, for example, an educational foundation or a theater studio.
It is very normal to be afraid of telling family members about your investments to avoid it being stolen which might lead to a family feud but then it is okay to let them have an idea of what you do and how you save your source of income. You don't necessarily have to give them the entire details just an idea. Also documentation also matters, in as much as you don't want anyone to know how much you have while you are alive, you definitely want them to have a share each incase unforseen circumstances occur, so document every little detail as much as you can.
Not only to show your best family friend your private key or phase password of your Bitcoin wallet, with him/her don't have the knowledge of Bitcoin on how it works is a big mistake while doing that, the first thing is to write down your Bitcoin wallet private key or phase code as a document it offline and state them clear for your love one that has access to your documents if the person is no more. Moreover, Bitcoin has to be educated to our beloved family and how to make use of it.
Some of us are afraid to share any information about our crypto investment because we think that someone will have an interest in it and steal their Bitcoin that is why they prefer to keep it secret rather than tell their loved ones. Let us consider this as a sort of protection but on the other side, there is also a disadvantage which we also have to anticipate. Such practices need to be corrected, we have to let someone entrust with - the keys and passwords for the sake that they are able to access and benefit from them when the time has come.
Not only to show your best family friend your private key or phase password of your Bitcoin wallet, with him/her don't have the knowledge of Bitcoin on how it works is a big mistake while doing that, the first thing is to write down your Bitcoin wallet private key or phase code as a document it offline and state them clear for your love one that has access to your documents if the person is no more. Moreover, Bitcoin has to be educated to our beloved family and how to make use of it.
The reason why we are here investing is to benefit the profits right after but if we are no longer alive, those investments will never be worthy anymore. So if we can find a trusted ally that we can leave our legacy and make him continue and benefit from it, it would be a better decision. At least, we are able to help that person to grow and improve his own life.
and that would be parents if you are still not married because it is your parents no matter how illiterate they are just should teach them while you are still alive. For the other case if they have a wife that would be worthy of sharing because it would be a huge problem if you died as there is no one supporting them and mostly your bitcoin is lost forever.
Others purchase a ledger and put it in the safe and they tell their parents and wives to open it when he dies which would be your last will just in case as we don't know what will happen to us.
One more thing, we should share our secrets with our loved ones now, don't think about it until it's too late. Don't forget that we are working or investing in bitcoin for them, not entirely for each of us.
The reason why we are here investing is to benefit the profits right after but if we are no longer alive, those investments will never be worthy anymore. So if we can find a trusted ally that we can leave our legacy and make him continue and benefit from it, it would be a better decision. At least, we are able to help that person to grow and improve his own life.
and that would be parents if you are still not married because it is your parents no matter how illiterate they are just should teach them while you are still alive. For the other case if they have a wife that would be worthy of sharing because it would be a huge problem if you died as there is no one supporting them and mostly your bitcoin is lost forever.
Others purchase a ledger and put it in the safe and they tell their parents and wives to open it when he dies which would be your last will just in case as we don't know what will happen to us.
1) since I'm ill should I show my family my seed phrase
2) if I die who will take over my bitcoin since nobody in my family knows my seed phrase.
So I was asking myself different questions because I have no wife and no child, then I began to think and be questioning myself if it will be good to at least tell one person in my family my seed phrase or should I keep having the perso secret of my seed phrase personal or should I keep my bitcoin document on my wardrobe were they can easily see my seed phrase, that time I was of full of thinking, thank God I recover fully from the illness before i return to forum...no sympathy
All of us have an ending and it's inevitable. What you worry now about your Bitcoin has a simple solution and that is to have someone in your family where you can leave everything without hesitation. Because this particular person is a trustworthy (since you don't have a family of your own yet). We can't bring our fortune when we die therefore it's better to be prepared.2) if I die who will take over my bitcoin since nobody in my family knows my seed phrase.
So I was asking myself different questions because I have no wife and no child, then I began to think and be questioning myself if it will be good to at least tell one person in my family my seed phrase or should I keep having the perso secret of my seed phrase personal or should I keep my bitcoin document on my wardrobe were they can easily see my seed phrase, that time I was of full of thinking, thank God I recover fully from the illness before i return to forum...no sympathy
In my case I have someone who knows my seed phrase and other valuable assets. So even there's an unexpected scenario that came, I am at ease that my children won't be left behind with nothing.
Sooner or later, all of us will have to be dealing with this concern whether one is involved with crypto or even not. Death really is a big question of when and not if. Time is coming when we will go somewhere else and we then leave everything behind including our crypto assets so in this case we should be making sure that someone will be receiving the assets so they will not just be waster digitally. Now, the best thing to do is to select someone whom we can truly trust and make sure that there will be instructions he/she should be following, in case we can have requests in mind. Now, that someone has to be vetted well, otherwise things will just go south and we don't want that to happen. For now, while being ready for the inevitable, let's just enjoy the roller-coaster ride we know is very much true in this industry.
The reason why we are here investing is to benefit the profits right after but if we are no longer alive, those investments will never be worthy anymore. So if we can find a trusted ally that we can leave our legacy and make him continue and benefit from it, it would be a better decision. At least, we are able to help that person to grow and improve his own life.
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