Topic: If only property I have is bitcoin - page 3. (Read 888 times)

Even if you are a very bad person there will always be someone who is very close to you, someone who is always there for you, I pray that healthy spirits finds you and heal you off your illness, it makes no sense to work all your days and let is all go to waste, what about your spouse or family?

Death so come when we don't see it coming, since you can still talk about this I believe that you will be ok, but if we have to discuss about what will happen once we die while having some Bitcoin well, nothing, we all die the same way regarding of whatever we have going on on our lives.

If you are so concerned about your crypto asset, find someone you can trust and share your Bitcoin private key with them, if you don't have someone then do nothing, have your mind of getting better, go for a medical checkup, and hope for the best.

I hope you are doing okay now since you said you have recovered from the illness. So, your situation is quite complex, because generally, when we have property and also have a family of our own which is our wife and children, what we do in that situation is we write a will and give it to a lawyer so that he can read the will to the family once we are no more. In our will, we can write about the Bitcoin holdings that we have but we wouldn't write the seed phrase in it since there is a possibility that the lawyer might steal them and change the will.

So, the solution could be that you keep your assets in a hard wallet, keep that hard wallet somewhere safe, and then write about it in the will so that your family can get that wallet after reading the will and they can get access to your Bitcoins. If you trust someone in your family, you can also tell them about it without having to go through all that.

In fact, this is a very important issue and one of the details we need to pay attention to. It may not be right to trust everyone, even if it is a family member. We must carefully choose the person we give our password to. This situation may not only disturb us later, but may also damage our sense of trust in that person.

It's not easy to predict people's behavior when it comes to money. Therefore, it is necessary to act carefully for both you and your environment.

Definitely. If you trusted someone too much that you become confident to leave your bitcoin onto him, then go for it without doubting. It’s certainly a good thing that there’s actually someone who will continue your legacy about bitcoin, than not to trust at all. After all, your efforts and hardwork on achieving that certain amount of bitcoin will only go into waste if no one will benefit from it that also knows how to invest cautiously and grow your bitcoin in the future.

One of the most important things you want to know is how your family members can use Bitcoin in your absence if you die. Just like banks pass down their deposits to the family but in case of Bitcoin there is no such system so you have to do everything yourself. Talk to family members about your investments, tell family members you trust about your investments and share your account information with them so that they can use your bitcoins after your death or for other reasons. Be sure to carefully select such people so that they do not use your Bitcoins or transfer your Bitcoins in your presence. If you find such a trusted person, he can certainly use your bitcoins in your absence.

The bank's system of transferring money deposits in accounts to heirs is not as easy as transferring bitcoin assets to heirs which does not require annoying conditions.

Transferring money saved to a bank account is not allowed to just anyone. The bank will ask for documents from the person who will be the heir when receiving funds from an account as proof that supports them. For example, if someone comes to claim heir. Documents such as identity cards that show family members such as wife/husband or biological children.
Transferring ownership of bitcoin assets is very easy — we only need to provide the seed phrase for an address.

Maybe the bank account switching system in each country is different. And what I am conveying is the diversion system that occurs in my area.

Do you not have anyone you can trust, whether it's a partner or close family?

everything you produce in this world ultimately you must pass on to other people, for that reason you should not live alone, in my city there are many cases of someone's property being auctioned by the government because there are no heirs or it was deliberately abandoned.

Steps you can take to keep the Bitcoin assets you own can be passed on to your successors are:

• use a will, however you cannot hide your bitcoin ownership from your family and those closest to you.
• donate it to other people who really need it (usually this is done by people who are really short in age and whose illness is already very serious)

First let me say it from the topic. Bitcoin is not a property but an asset. And you don't have to wish yourself dead but to recover quickly. And if you doubt yourself for the survival then give the keys/seed phrase to a trusted family and tell the person to meet one of your friend, who is into bitcoin to sell the coins for him or her. And there is no too much things to think about it. All what is needed is a trusted family member. Well this question as been on people's mind and they have not gotten the needed answer. Really this matter worry people, because cryptocurrency is not like the fiat bank account whereby a next of kin can easily claim the asset. We pray not to sick.

What about your mother or father, do you still have both or vice versa, according to my understanding there are no children who do not trust their parents, As far as I know, if you don't have a wife or children, the assets you own are completely owned by your parents, not your brothers or sisters.

Another solution, when you are sick, is someone who faithfully accompanies you when you are sick, who cares for and looks after you when you are sick, so tell him about your Bitcoin seeds or assets, For me, loyalty or those who can be trusted, those who sincerely care for us and take care of us in times of illness, are the ones who have the right to receive the Bitcoin that you have, as well as the problem of being able to access your Bitcoin wallet.

The question is who is looking after you during this time, when you are sick, your parents or someone else, in conclusion give them access to your Bitcoin seed.

Holding Bitcoin alone can even worth more than the thousands of the shit coins in the market. The market will keep growing with time and non of the coins in the market can outgrown Bitcoin which is the number one coin in the market with huge market cap and regular trading. It is better to hold Bitcoin which is more safer than many coins in the market combined. Bitcoin is very volatile which we have to consider before we think of investing our money in any way. As the market keep growing, our Bitcoin holdings keep increasing as the market keep going bullish.

Death is not something we can plan for, so it can come anytime because there is no notification. Now let us know that it is not only when we are ill that we should start thinking about death, but even when we are in good health, because it is not only ill people that do die; even people in good health die; some sleep and never wake up again; some people will get into accidents and instantly die; so death comes in many different ways, not just when someone is ill. So it's better to plan things out now than wait until we are not in good health.
 
It is true that our seed phrase should be properly hidden and monitored by myself because it is something that if anyone has access to, they can access our wallets without our permission. But when we think about death and the fact that one day someone will stop breathing, someone should know that sharing the information about where you hide your seed phrase with someone you trust is necessary because it is the only way that someone will have access to our wallet when we pass away.

I don't think keeping the Bitcoin document on your wardrobe will be a good idea because I am thinking maybe someone you may not trust will find out the documents later when you die, so the best way is to look for someone you trust and share that information with them. I think it will be the safer way.

Your private key should be stored in a place where your family members will be able to see it even after your death. If you are ill, it's not proper to just tell people your private key. What if you survive the illness and the person to whom you expose your private key ends up stealing from your bitcoin? We all know nobody should be trusted when it comes to money. The best thing I can say is for you to store your privates in a place that can be easily discovered after your death.

You can just carve your private key on a piece of iron steel, then keep it in your wardrobe, where you know after your death they will definitely search and see it. But make sure it's not written on paper because it can be easily destroyed. If you can tell someone about your private key when you are ill, if you survive the illness, you might end up causing problems for yourself.

You know, I always say, "If you've got Bitcoin, flaunt it - but safely!" No one wants to leave a treasure map thats missing the big red "X" at the end, right? Your point on jotting down those keys on paper is gold - sometimes, analog better than digital, especially when hacker are getting better. And teaching your heirs about Bitcoin?  No point in giving them a shiny new toy if they don't know how to use it. You're exactly right, though. This is a complex combination of trust, teaching, and being ten steps ahead. Don't lose those keys, and keep learning

Every person may affected by illness or any kind of accident may happen in his life. Which we can never ignore. Man is mortal, everyone must face that difficult times. And those of us who have invested in Bitcoin certainly have a duty to inform our heirs of this Bitcoin investment. Although this issue has been discussed many times before. In my opinion the most trustworthy and reliable person is to explain Bitcoin passwords and key phrases. A hard copy of these phrases is also required which can be kept in a safe place. There is a high chance of being hacked or stolen on any online platform. So to avoid risk we must write it down in paper. Also, whoever I share my bitcoin assets must be taught how to use bitcoins.

I know that some parents don't really know about blockchain technology, which means they might not be able to access their children crypto assets if accidentally the person pass on to the afterlife, but there is still an option in that case. If, in such a situation, your parents (either mom or dad) are still very much alive and healthy, you can give your mom your see phrase, tell her how much your total Bitcoin asset is worth in your local currency, and then tell her that if you pass on, she should meet any of your trusted friends or brothers that are capable of helping your mom access the funds. Meanwhile, the private key or seed phrase will be with your mom. But if you don't also trust your mom or your dad, I believe there is someone you can really trust in your family. Just find someone you trust so much and deliver your asset to them. Since you don't have a wife or kids, there is someone that you have to choose as your next of kin that you have to pass on your assets to.

No one can know when they will get sick and when they will die, as you said when we are sick and we cannot do our work then at that time we will realize that health is everything for us because when we are healthy we are not caring about our health so that we only feel it when we are sick. If we save any amount of Bitcoin, it would be better for someone close to us to know about this If we die, the Bitcoin we save can be used by those closest to us because if no one knows about it, this will be very unfortunate because Bitcoin is a very valuable asset price.

Well, you have good points, but nowadays you know that some families fight because of the father's property, more especially when gets married to 2 wives or even 3 wife's, it is hard to make such decision and you know it, if the first wife is calm and she have only one child but the second and third wives have up to 3 children on that day they will share those properties there will be a big problem in the family.

But if the man gets married to a wife, throughout the whole time of sharing properties there will be no trouble because nobody will compete.
If I have a bitcoin wallet, before I give out my coins to my family, I will make sure that I teach them about crypto-currency while I am still strong, so that they will learn faster. and, after teaching them Bitcoin, I will give them a test to create a verified Bitcoin wallet and send their Bitcoin address  to me, them I will transfer what I want to them, but for the one I want to give the biggest coins, I will give the person my own Bitcoin wallet.

It's good to hear you are well now.

It would be better that one of your parents know it either your mother or father that you own a Bitcoin and you've put it somewhere in your computer or on paper that is in the vault and explain to them that they will open it once something happens to you because that might help the family because just imagine something will happen to us and we hold that Bitcoin but we forgot to tell our parents that would be a huge amount of money to help them as long as they are worthy to receive it because I know there are other parents that aren't good to their children so as long as you don't want to make your bitcoin lost for ever like yourself it is better to have someone worthy to receive it in the future.

When we invest bitcoins, we plan a little bit for our future generations, so that they can live well with this wealth. When I hold a certain amount of bitcoins, if my family members don't know about them, no one can take them and the money stays in the wallet. Whenever you present this investment to your family, they will be happy that you have put something in place for the future. And Bitcoin is an asset that will be useful to your children in the future and from which they can earn a lot of money. That's why you should tell your family members who understand bitcoins about the bitcoins you saved before you die. But your Bitcoin investment that you leave behind as a future asset for your family to enjoy.

Problem is the member meeting our criteria. Aside from being trustworthy, they should also be aware of what we are transferring to them. If they won't have enough knowledge of it then it'll be put into waste. Therefore, giving it to them shouldn't be done with life and death situation. Just like with inheritance of real estate properties wherein there would be procedures to be done first.  And if possible transfer the knowledge of continuing what you have done or the idea of cryptoinvestment to them in order to make things better for them. But to those who hesitates then just accept the circumstances, try using all of it before your last day and if you fail to do so, then no one's gonna be able to make use of it. There are just circumstances wherein we cannot trust other people than ourselves.