Topic: In event of your death - page 4. (Read 6000 times)
I did not even think about it, because it's too early. I think when this time comes to this, we will already develop some reliable way to transfer bitcoins after death.
I am wondering what provisions have you all made in case you die before cashing out your bitcoins? I am single, live alone and both my parents are deceased. My siblings dont care about any of this, however I would like my nieces and nephews to get some of my profits but they are still very young right now. I dont trust lawyers to give them my private keys. I am wondering, what can I do?
I haven't really made any kind of plans in regards to something like that, but I guess I might as well set up something so that the rest of my family is able to get their hands on my Bitcoin in the event that I die. I don't know if the small amount of money they would get from something like this would be worth the time since there would be far large payouts from life insurance, assuming I die from something covered by that, but you never know.I'll probably have a usb or two with text files with a ton of different keys, with IDs like A-1 or whatever, and on my will I'll have the correct private key listed.
I also haven't been considering on what to do with my Bitcoins in the event of my death because I'm still young, but that is irrelevant because death can come to anyone at any point. I also don't have anyone I can rely to since I am also single and without any living descendant.
I guess I'd probably do the same, and leave the private keys in a usb or hard drive with some instructions for someone I can rely on or trust. Bitcoin is a hard thing to leave behind to someone who has little knowledge on bitcoin because it is quite hard to understand.
I will advise you to start teaching Your children how bitcoin work so they can access it after death. You can safe your key with bank and using your children as the next of kids. Many people are having this same fear you have and that is the reason many people are afraid of investing in bitcoin and cryptocurrency.
I am wondering what provisions have you all made in case you die before cashing out your bitcoins? I am single, live alone and both my parents are deceased. My siblings dont care about any of this, however I would like my nieces and nephews to get some of my profits but they are still very young right now. I dont trust lawyers to give them my private keys. I am wondering, what can I do?
That means you are suggesting that you don't have anyone to look after you. Then why are you thinking about your post life just earn and enjoy.
i give my big brother and my sister my private key, incase i die eventually, i also say to both of them, thats in that private key, is for my daughter, all for her..i trust my sister and big brother, i trust them they will not takes any cent of it if i did not give them,
thank god i have a very honest sister and brother
thank god i have a very honest sister and brother
I've got a dossier for my spouse with all the keys to the wallets in the event of death.
Everyone should do this - death happens to us all, so be prepared, and make arrangements, you don't want your hard earn coins to be lost forever.
Everyone should do this - death happens to us all, so be prepared, and make arrangements, you don't want your hard earn coins to be lost forever.
My friend why will you be thinking of death at this prime age of your life, even God assured us in his world that with long life he will satisfy us. So why thinking who will inherit ur bitcoin wallet when you die.
Have you thought of the life ahead of you ur beautiful wife, your lovely kids. Pls work on your mindset and inrase death from your dictionary.
Have you thought of the life ahead of you ur beautiful wife, your lovely kids. Pls work on your mindset and inrase death from your dictionary.
Unfortunately if theres one thing we are all certain of. It is that death is our future. Death doesnt care whether we like that or not. I would rather be prepared than living on a bubble of,"I am not going to die anytime soon". Noone knows when their time will come.
I am wondering what provisions have you all made in case you die before cashing out your bitcoins? I am single, live alone and both my parents are deceased. My siblings dont care about any of this, however I would like my nieces and nephews to get some of my profits but they are still very young right now. I dont trust lawyers to give them my private keys. I am wondering, what can I do?
put everything you've got on a flash drive and leave it in a banks vault? Then leave in the will the password or whatever to the one you think he'd use it the most. That's what I'd do or maybe send keys to some charity and write somewhere on how to use it.
Thank you!
I am wondering what provisions have you all made in case you die before cashing out your bitcoins? I am single, live alone and both my parents are deceased. My siblings dont care about any of this, however I would like my nieces and nephews to get some of my profits but they are still very young right now. I dont trust lawyers to give them my private keys. I am wondering, what can I do?
put everything you've got on a flash drive and leave it in a banks vault? Then leave in the will the password or whatever to the one you think he'd use it the most. That's what I'd do or maybe send keys to some charity and write somewhere on how to use it.
My friend why will you be thinking of death at this prime age of your life, even God assured us in his world that with long life he will satisfy us. So why thinking who will inherit ur bitcoin wallet when you die.
Have you thought of the life ahead of you ur beautiful wife, your lovely kids. Pls work on your mindset and inrase death from your dictionary.
Have you thought of the life ahead of you ur beautiful wife, your lovely kids. Pls work on your mindset and inrase death from your dictionary.
I am wondering what provisions have you all made in case you die before cashing out your bitcoins? I am single, live alone and both my parents are deceased. My siblings dont care about any of this, however I would like my nieces and nephews to get some of my profits but they are still very young right now. I dont trust lawyers to give them my private keys. I am wondering, what can I do?
Another option can be, put everything in a secret place. Records of all your private keys, records of all your bank accounts and properties and written testaments that if something happens to you, what's been written in your testament will be binding, and secure them in a safest place you think is and secure a trusted individual also or a lawyer and have them sign with the third or fourth party for the agreement. So the lawyer could not run away with it by himself.
I am wondering what provisions have you all made in case you die before cashing out your bitcoins? I am single, live alone and both my parents are deceased. My siblings dont care about any of this, however I would like my nieces and nephews to get some of my profits but they are still very young right now. I dont trust lawyers to give them my private keys. I am wondering, what can I do?
That is very easy. Before you die just in case make a letter. If that happens it will be delivered to one of your siblings. Tell them its a huge amount of money and explain everything on that letter on what they need to do. Or marry someone before everything's too late so it's much better that your children will inherit all of that profits.
I am wondering what provisions have you all made in case you die before cashing out your bitcoins? I am single, live alone and both my parents are deceased. My siblings dont care about any of this, however I would like my nieces and nephews to get some of my profits but they are still very young right now. I dont trust lawyers to give them my private keys. I am wondering, what can I do?
In case of dying all of my private keys are in my one USB and I have a note in that I guess and that will be their access to my money and I hope they will know it because I am only one in the family that know about the bitcoin so I think they figure it out soon. This is a brilliant idea. Unfortunately due to the fact that Bitcoin transactions are not reversible is my main reason I dont have a lawyer I trust not to steal my little accumulated wealth. This suggestion is very convenient. I think I will separate the assets, one half in usb and the rest in paper wallet. Thank you!
Every investment instrument has it's own different kinds of risk, and this topic is one of which when investing in Bitcoin. However, just like the other investment instruments, this risk can also be managed in order to minimize the overall risk of your investment. An example for you to minimize the risk of the situation is by having a bank that would secure your access to your wallet. Yes, I agree that you can not just trust a lawyer with the details because they can easily cash out your Bitcoins and run away with it. But with banks, you will sign a contract and as a well established bank, they will follow the contract and only give access to your details to the heirs that you will provide them. So be careful in the bank of your choice, make sure it is a big one or the top bank in your country in order to secure your details from being leaked.
yes you are right and I am strongly agree with you that everything in this world has some risk and the same way bitcoin also facing a kind of risk and there is nothing new in it but I think our life does not have any guaranty so how can we say that we will earn good money even without any risk bitcoin is a currency in which the chance of earning is bigger than the chance of loss.
If you experience death whether you will do the same with others, other people will do a testament to children or inheritance, This is a good way to pass bitcoins as an inheritance item without simply revealing the private key to the handler.
1.just make a paper wallets of all your crypto assets, print it and store it in bank vault
2. write a little manual about crypto
3.tell your families that you have a certain amount of cash or gold in the vault
2. write a little manual about crypto
3.tell your families that you have a certain amount of cash or gold in the vault
Look for a very good friend to trust with, while your other options grow up.
There will be option create by bitcoin soon. So we should not need a trusted friend after all this option will improve everything. So we can give our bitcoin permission after death to other. But as you talked about a good friend. Why should not be a family friend because family is closer and trusted than a friend instead giving address to friend we should give to our family members. 
Before I die, I will give all to my child. But before giving it to me I have to teach what bitcoin it is to my own child.
Every investment instrument has it's own different kinds of risk, and this topic is one of which when investing in Bitcoin. However, just like the other investment instruments, this risk can also be managed in order to minimize the overall risk of your investment. An example for you to minimize the risk of the situation is by having a bank that would secure your access to your wallet. Yes, I agree that you can not just trust a lawyer with the details because they can easily cash out your Bitcoins and run away with it. But with banks, you will sign a contract and as a well established bank, they will follow the contract and only give access to your details to the heirs that you will provide them. So be careful in the bank of your choice, make sure it is a big one or the top bank in your country in order to secure your details from being leaked.
I myself never thought of it that way. I also don't have anyone right now whom i can give my private keys or make him/her understand that what is bitcoin and how it works and how you can use my money if i die (Hope that doesn't happen soon). Lets hope we don't die until we do something for this, and if we die before that, our coins will stay in our wallets forever unless someone hack into our wallets and take them out.
Maybe if you have a very good friend you can trust him/her, while your nephews grow up.
Maybe friends are good options. But dont you think that it will be better if you trust a member of your family? Like your wife or your kids or even your parents. It is not very hard to teach them about bitcoin and the cryptocurrency I think a real friend is someone you can trust, however, there are many things that can happen. The friendship is beautiful, but it often comes with the traitor. This betrayal hurts you more than anything, so do not choose the wrong person.
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