Topic: Nobody know tomorrow (Entrust your account to someone else). - page 2. (Read 506 times)

Na true you talk but as we dey open up make we also know the kind of person we dey open up to make Dem no go useless wetin you suffer to build from stretch, we are all humans and humans can be unpredictable most times. E go really better make we teach our next generation on how to manage funds before passing it down to them. Nobody knows tomorrow shouldn't be about death and losing your investment alone, we should also be interested in raising our offsprings up to be able to manage our investments well while we are gone.

Well as the world dey evolve everyday na only matter of time before we see say bitcoin total value sef go sky rocket and even the awareness sef go dey very massive to the extent of everyone getting to know it so the issue of your wife and children knowing about your holdings go really dey important because as we dey so everyone go surely meet old age and we no fit escape am.

My greatest fear to release my walle seed phrase r private keys to a family member is for the person not to get greedy one day and utilize all my funds without giving others a sense of belonging in the inheritance, also you can give to someone and the person might even achieve it whilst you're alive, for this reasons I made it a little tricky.

I encrypted my keys myself, by running a simple NodeJS server and encrypting it with some secret key, without a third-party encryption service. the secret key for decryption of my seed phrase was then shared to my siblings in parts. upon my demise, they all have the authentication to the GitHub repository where I saved the encryption code and I have taught every one of them how to decrypt it. I printed the encryption to a file saved on the project, so they only need the secret key to decrypt.

I shared the key amongst them because I believe that there is no way all of them can come together to rob me of my coins at the same time, and no one can achieve my coins alone without the consent of others, furthermore, if they loose the physical copy of the secret key, they can refer to the drive where I saved it for each of them online to get their pairs and decrypt it together.

Op weting you talk na true because the way the world be now no body knows tomorrow so for us to be in saver side e go better make we open up to our families more especially your wife because weting some many families dey surfer today na because their father no open up to them when in still dey Alive. However I think e dey very necessary for us wey dey into Bitcoin investment like this to always tell our family about weting we dey do so that Incase any emergency dey can be able to manage our investment very well, afterall or our hustling in this world is just for the betterment of our families.

If it is Bank Account, I will entrust someone who will be my next of kin. And the problem is that there some next of kin passed on before the owner of the account. But Op don't give your forum account give anyone oh because the opposite is the case. But you can give your seed phrase to a trusted son, sister or brother but not a friend. And don't keep your security details in an open place. Always save guide your seed phrase. As others don tok am, we don talk dis matter for plenty times and all of dem still go down to giving your seed phrase to a trusted person in your family.

Nobody wish to die but it is inevitable so earlier is the best.

In this regards i really agree with you with that next of kin because it very important, many people no dey put this next of kin serious, a woman who they work as civil servant com put her husband brother for her next of kin but when they give them orientation and tell them about a story that a particular staff die and him next of kin no they their family and when the next of kin here about the the person died he com make proper arrangements go the organisation go dey start to dey claim the person entitlement which the person was recognised and was issued all the necessary claims, after the person have claims and finished all the money them a family member then point out that since their brother and he was a civil servant they must be some entitlement that will be given to him, when the forward their complain they tell them that the next of kin have claimed the entitlement, that is when the woman change it to her son's name.

Nobody know tomorrow is taughful something because as human we need to enjoy everything moment with our love one and sharing some vital information with them must be a person worth accountable and worth it to be able to achieve this.

I believe say one of the purpose of holding Bitcoin na to pass am to our children because those small sats wey we dey see as nothing when e reach their time, e go surely get value pass wattin we dey see now. So as your children they grow make you no forget to teach them about Bitcoin because nowadays small pikin of 2 years don already know the use of money so from there you fit just dey use play take they tell them the meaning of Bitcoin and crypto in general, then when them don they mature like 5 years you fit tell them say you get some Bitcoin. With all the teaching wey you don give at that time them supposed to know say na secret between you and them.

Although this your topic na just thesame thing with this one wey you drop for Bitcoin discussion https://bitcointalksearch.org/topic/m.63857685 na just the local version of it be this one. But wettin you dey talk na truth and this particular incident dey affect us now for our society because the rate which bank managers dey behave with people's fund for bank no good atol. The fault of this whole matter from the bread winner of the house being the father. When the father go dey alive e sopos update him children on how him account and assets them dey, but him no go show him children maybe e go dey hide but when e don die the children go come dey suffer to collect him money from bank or any other assets wey dey around the world. Now wettin our parents sopos do for us or wetting we as a new parent to our children sopos do na to entrust most of our assets now to our children so that if anything should happen today or tomorrow e no go affect our children like the way e carry affect us too for our parents. Because most of the cause of that thing na ignorant. Emagin person wey be your next of kin no get signatory to your account or no get access to the account or no even dey awear say na him dem put for the next of kin. And when no body dey sure of who be next of kin wahala don dey be that. Bank manager go take advantage of that come suffer ona till ona go tire to fight for theoney till dem go take am.

Let me believe other members here must have made things clear for you,  investments can be transferred from parents to children, from one sibling to another base on one or few circumstances that may occur. Life is unpredictable, we may look so strong and healthy but we never can tell what the next day, weeks or month holds so we need to be very smart on this. It is good for someone among your house hold to have access to your security phrase, someone to be very much trusted, it is not just Bitcoin alone but every other kinds of investment.

To be frank this one dey really important because as we dey invest for Bitcoin we suppose get next of kin incase anything or even if we die for good old age person supposed inherit our bitcoin. Also something fit happen way go require person to find money for us but if nobody cor know about our bitcoin holdings and nor see who give am, the matter fit cor worst and even lead to death.

The truth be say we suppose pray make we get reliable person/persons way we fit tel about our bitcoin holdings but the truth be say we suppose teach or make sure say the persons get knowledge about bitcoin and how to secure am so that they nor go use ignorance make us lost our bitcoin.

Timelocked for Bitcoin dey really Important especially since we know the importance of HODLing bitcoin, especially as bitcoin Cor be the best store of value, we fit this method make them nor fit sell the Bitcoin even if they want sell am until the year way you put for them to fit use the coin while the setting of this timelock dey technical but the technicality Don reduce since e dey easier to calculate which block height go be the equivalent number of years, way you want way your bitcoin dey lock

We humans na spiritual beings o. We no suppose dey reason to die early because things dey wey make God create us, wey we must do.
Besides to get money, to get wisdom na one basic thing wey every man suppose get in order not to be a mediocre in their time.
I believe say before person dey die, e go don dey get sign or maybe em sick, but e no dey happen like dat most times hence why e dey important to let someone close in. A blood relative or family or the friend that's closer than a brother should at least have an idea of how to follow up on details incase we pen down or give instructions in more crude ways.

Infact e de very important for us wey de hodle Bitcoin to let a trusted person for our family or friend to know our seed phrase, I know say e no de easy to trust anoda person with our money matter, because dat family or friend fit be your enemy in disguise, but because no verification to move your Bitcoin without seed phrase, you need to trust a second party with your phrase secret, Incase of death . If person die, di family fit to trace im money for bank, make e remain how to collect am, but for Bitcoin matter, without password or seed phrase to move the coins, e don lose forever, so we no get much choice but to let a trusted person to know how far about our Bitcoin personal details.

This reminded me of the period I was taking down my seed phrases on the piece of papers, It was like I was giving out my wills to my family, then I felt like I needed to call on my beloved wife that this is the key to my bitcoin access and it was to me that if I don't take such action of revealing my passkeys to my wife I may just give up and my investments will just be there growing uselessly while my family is out there surfing for financial help.

I've read replies of most forum users here saying such topic has been treated at some occasions in here and there but I can tell you all that it's my first time coming across one like this. Although I've also been considering such but doesn't know how to make it a topic for discussion here in the forum's.
But anyhow, it's important to tell your loved and trusted one about your investments, but to be technical with this as a bitcoin Investor with the Smart moves, I wouldn't encourage you to just tell anyone that this is the access key to your investment rather you can let your loved and trusted one know about the box storage in which you stores your very important documents in which it contains your valuables. There it should be clearly told that they're confidential files so that the secret bearing of it all would only lay between both of you.
You must be careful and sensitive enough not to entrust such secrecies to more than one person so that you can always have a trace to hold anyone responsible if your Privacies are being disclosed or tempered without your knowledge.

This has actually been a topic of discussion for many years in the Bitcoin community. A lot of similar stories has been shared about funds abandoned or lost due to inability or unawares of family members after the death of the original owner. Though it may be a good idea to share theses information with someone sometimes just Incase. No body plans to die but we still have to make plans because life is short and uncertain. If we assume nothing may actually happen, we might end up losing a huge amount of money stored in a place no one can access. Just like op had said, banks when they are finally notified of this and see the funds has remained untouched for many years they may steal it, while your family suffers with nothing.
Sharing these information with persons whom we trust so dear is the most vital solution.  We can say wife, siblings parents but it really depends on how much you trust them.

The unforseen circumstances wey you yan so don destroy many things for life, over secretive no too good, though life ni balance but any how there must be some one that one must trust to let some information open to he or her for those who have wife or children that is up to age is very important.
I can't wait to do what is needful to avoid story that touch after all this struggle one end up lossing just because one refuse to let close relation number one savings or investment, because a sit stand some bank if you die they will not even relate to your family the manager will just chop the money.

We need to make adequate preparation on the next of kin to us, this can be someone very close and dearly to us like our children, wife or siblings, we should be careful as well in making plans on this because we cant tell if sooner or later it may come, but when we already have prepared down for the unexpected, if the worse should come, it will never be a tragic loss upon the asset we have with us.

Di truth be say, when people no dy alive again, na dia family, friends and relatives dem go dey feel pain pass. And na true say for Nigeria, many people no dey inform dia family and friends say dem don invest money for Bitcoin and crypto-currency. So if anything happen to the person, dia family fit no even know say dem get bitcoin or crypto assets. And if dia family no know, dem no go fit recover di money.
E be like say the biggest problem wey make this mata na di lack of awareness and understanding of crypto assets for Nigeria. Na still new concept for dis kontri, and many people no even know wetin crypto mean sef. So if di person wey invest no tell anybody say dem don invest, e fit be say dia family no know say dia fit recover di money if anything happen to di person. And some of dis people sef no dy get paper wey go show say dem get crypto assets. Dem no write down dia seed phrase or keep copy of dia private key. If dis tin happen di person no tell anybody say dem get crypto assets, and di person no get record of dia seed phrase or private key, na so the assets go just dey there like say dem no get owner. And if di assets no get owner, dem no go get anybody wey go claim am. So make we try make sure say we dy educate ourselves about crypto assets, and we go inform dia family and friends so that dem go know wetin dem fit do if anything happen to us.
But in addition to dis awareness, we fit also create legal documents wey go direct weda and how dem go claim assets if anything happen to us. But abeg make we no forget say na only one type of solution to di mata wey we dey talk here, and we go need to work together as community to find di best.

We don discuss this subject of Bitcoin inheritance for the global/English section of the forum well well, e no bad to tell your family member how to find your seed phrase if something bad happens to you, but you gats trust that person wella. You fit also use other patterns/methods for inheritance, like timelocked transaction, but that one go require the person to get some technical knowledge to sabi wetin dem suppose do, and to do it correctly.

The truth be say no be today we don dey discuss the matter for forum here and a lot of people don talk say instead of us to lose our investments anyhow E be at least make we find person wey we trust small tell am about our investments so that the unforeseen circumstances no go talk us unaware.

Just like some people wey dey use hardware wallet for here, na to give person like your wife or pikin wey fit stand know him right and left the passphrase or private key so that if you no dey any day em fit go open am use am one way or the other. E good to keep secret but E get some kind thing wey you need to think twice when you dey keep secret and one na your money issues, investments, bank details etc so that your people fit know how to waka use the funds do better thing for life if eventually you no dey again.