Possibility of Bitcoin insurance or handover:

sokani

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Quote from: Hewlet on December 09, 2023, 09:29:15 AM

What happens to his account and portfolio in such an event?

Is it possible that a third party can start using the account?

If by account you mean his bitcointalk account, it was his and his alone and cannot be used by anyone even after his demise. The account represents his character, trust and judgement and cannot to be handed over to a different user, that's why an account is normally tagged whenever it changes hands. Though in the memorial thread someone suggested that his daughter should use it, don't know if the forum is going to make an exception.

Concerning his portfolio, as long as someone he trusted with the seed phrase still has it, the funds can be spent.

GeorgeJohn

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Quote from: Zigabel on December 10, 2023, 01:37:17 AM

When it has to deal with portfolio I think it would be good if our portfolio details be included in our wills so as to enable our next of kin or the people we left behind gain access to our portfolio after our demise, so all that we have worked for and left behind could still be useful to others even in our absence but I don't think your Bitcoin account is such that can be inherited because definitely breach of trust will definitely come in with the new handler.

It depends on the kind of bitcoin account you are emphasising on, someone can not inherit and the one someone can inherit also, when you come in terms of bitcointalk account I think its better understanding that we have to at know that it's very difficult for someone to make use of someone bitcointalk account so you can not inherit it because maybe the method of the person communication to chat will be be quite different and it will be easily be detectabl, so therefore I believe that you have to understand that your children can inherit your wallets when you are been dismissed

Xal0lex

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I already wrote in another thread that his daughter has everything she needs to access his cryptocurrency wallet and if she wants to use the assets in that wallet, she will be helped to do so as she is not at all knowledgeable about cryptocurrency. And yes, she is not going to use her father's forum account.

Jenwi

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Quote from: Hewlet on December 09, 2023, 09:29:15 AM

Yesterday we saw the sad news about the death of one of our coopper member of the forum, that's @light_warrior, and while we condole and sourced for ways to support those that he has left behind, something came to my mind;

What happens to his account and portfolio in such an event?

Is it possible that a third party can start using the account?

What if knowing that death is inevitable, we will our bitcointalk account and our portfolio to someone who will manage after out demise.

I asked this because I know that if this is a physical venture, it will be very easy for the family member to continue with what is left behind, I know bitcoin might not necessarily work that way but I just want to clear my curiosity and let's see if we can establish something out of your contributions.

R.i.p @light_warrior, sorry I didn't come on board to meet you. Respect sir.
I think the pattern of banks should be adopted where the person will provide while alive a heir to his account and portfolio because it is very bad that all the efforts of our bosses will be lost over their demise. There should be a way of indicating inheritance so that everyone in the bitcoin world will know that he is dealing with the next of kin and at such exercise diligence, care and caution.
Therefore third party should be allowed to operate the account and portfolio of their predecessors.

Zlantann

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Quote from: Hewlet on December 09, 2023, 09:29:15 AM

Yesterday we saw the sad news about the death of one of our coopper member of the forum, that's @light_warrior, and while we condole and sourced for ways to support those that he has left behind, something came to my mind;

What happens to his account and portfolio in such an event?

Is it possible that a third party can start using the account?

What if knowing that death is inevitable, we will our bitcointalk account and our portfolio to someone who will manage after out demise.

I asked this because I know that if this is a physical venture, it will be very easy for the family member to continue with what is left behind, I know bitcoin might not necessarily work that way but I just want to clear my curiosity and let's see if we can establish something out of your contributions.

Losing light warrior to the cold hands of death was painful because he was contributing to the development of the forum. This community is just a forum that facilitates interactions about Bitcoin between like-minded people. Accounts in this forum have no financial worth except if the owner offers service to community members or companies that run signature campaigns. So there is no need to transfer the ownership of the account to another person.

Let us assume that Light Warrior's legendary account was inherited by his daughter who had no interest in Bitcoin. Now the community will have to cope with a newbie behind a legendary account. Transferring an account to family members or a third party will undermine the reputation and integrity of the account. The account will lose value because the worth of every account is the person behind it and not the rank.

Accounts of late members should be tagged to enable members to know that the owner is dead. Any member of the family that is interested in joining the forum should start from the beginning. This will enable such a person to gain knowledge of Bitcoin and the forum and grow naturally.

avikz

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Quote from: Hewlet on December 09, 2023, 09:29:15 AM

What happens to his account and portfolio in such an event?

Is it possible that a third party can start using the account?

What if knowing that death is inevitable, we will our bitcointalk account and our portfolio to someone who will manage after out demise.

That's why inheritance planning is important! Having a will helps here. There are many law firms which can provide such services. Just need to find a trustworthy one. Some may argue that such law firms are not trustworthy and you can't provide your private key to the law firms but hey, people can surely improvise here.

If you are holding a significant amount of Bitcoins, you can write down your private key inside a locker system and keep it at your home. And in your will provide the password of the locker system to pass on to your next generation. If you think there are ways to improvise and pass on the wealth from you to your next generation.

hd49728

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Not your keys, not your coins!

Quote from: Hewlet on December 09, 2023, 09:29:15 AM

What if knowing that death is inevitable, we will our bitcointalk account and our portfolio to someone who will manage after out demise.

I asked this because I know that if this is a physical venture, it will be very easy for the family member to continue with what is left behind, I know bitcoin might not necessarily work that way but I just want to clear my curiosity and let's see if we can establish something out of your contributions.

If you don't want to bring your bitcoin to you when you pass away, you will plan to tell someone about your wallet, and how to recover it. It can be your wife, husband, children, people who love most.

It is the people you can trust but if you can not let them know about 100% of your bitcoin, you can create different wallets and let them know about part of your wallets like a half of your bitcoin. It is risk management that in worst situation, if those people do something bad, you still don't lose all of your bitcoin.

Using Locktime for inheritance planning, backups or gifts

lovesmayfamilis

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Don't you remember the history of the account when the son decided to inherit his father's account? He came to the forum and directly and honestly stated that he was not the original owner of the account. But even his honesty did not help him leave intact an account that did not belong to him. It was negatively tagged. Why is this happening? You agree that we do not provide any documents on the forum, and accordingly, we cannot transfer the account as an inheritance. After all, the person who bought and hacked the account can use such excuses. Is anyone ready to just take word for it? Unlikely.
Therefore, both then and now, it will be proposed that any heir begin his journey on the forum independently. Whatever we say, for the sake of decency, transfer the account to relatives, but the level of knowledge of another person will almost always be different and will not fit the rank that the heir is ready to assume.

wallet4bitcoin

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Quote from: Hewlet on December 09, 2023, 09:29:15 AM

Yesterday we saw the sad news about the death of one of our coopper member of the forum, that's @light_warrior, and while we condole and sourced for ways to support those that he has left behind, something came to my mind;

What happens to his account and portfolio in such an event?

Is it possible that a third party can start using the account?

What if knowing that death is inevitable, we will our bitcointalk account and our portfolio to someone who will manage after out demise.

I asked this because I know that if this is a physical venture, it will be very easy for the family member to continue with what is left behind, I know bitcoin might not necessarily work that way but I just want to clear my curiosity and let's see if we can establish something out of your contributions.

Very important consideration, come to think of it, I have not given a though to this but I have times without number given thoughts of how to transfer funds and access to people
Unfortunately, the account on Bitcointalk is not transferrable as its more of an intellectual property.

You can't transfer intellectual property to someone who has unequal capacity, even if you do, you have different views on diverse topics. Conclusively, forum account should not be transferred to a family member.

Zigabel

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When it has to deal with portfolio I think it would be good if our portfolio details be included in our wills so as to enable our next of kin or the people we left behind gain access to our portfolio after our demise, so all that we have worked for and left behind could still be useful to others even in our absence but I don't think your Bitcoin account is such that can be inherited because definitely breach of trust will definitely come in with the new handler.

ZAINmalik75

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Quote from: Hewlet on December 09, 2023, 09:29:15 AM

What happens to his account and portfolio in such an event?

That's really a sad news and his account is just laying there for the ones to use who will have access to it, but I don't think a reputed member who used to be a spam buster will give his account credentials to any other member. So, his account will not be deleted by moderators and about his portfolio, he must have inform her daughter about it, I don't know more about her daughter but only what that icopress has mentioned about her. Maybe she would have access to his father's account if she is young enough.

Quote from: Hewlet on December 09, 2023, 09:29:15 AM

Is it possible that a third party can start using the account?

It is possible for third party to start using this account but he will need the credentials and as it is officially announced that the owner is no more so if any other member will use this account then it might get red tagged.

Quote from: Hewlet on December 09, 2023, 09:29:15 AM

What if knowing that death is inevitable, we will our bitcointalk account and our portfolio to someone who will manage after out demise.

We should prepare for death and should take pre-cautions like the wealth we have created should not go wasted or abandoned like nothing, because our BTC or other crypto tokens will not be recovered by anyone if we will be died until we gave someone the key to access them.

syedakhlaque

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The death of a senior member of Bitcoin Talk is tragic. We are saddened by his death. But this is also a moment of concern. That after the death of a senior member, there should be a system on behalf of Bitcointalk to support financial issues for his dependents. There should be insurance or pension or some other financial support. Your point of view is very correct and commendable.
Bitcoin Talk is a very organized platform of bitcoin. And there is a very big and competent bitcoin team working here. And economically it is a strong organization. So everyone should think and work on this issue.

Crypto Library

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Quote from: Hewlet on December 09, 2023, 09:29:15 AM

Yesterday we saw the sad news about the death of one of our coopper member of the forum, that's @light_warrior, and while we condole and sourced for ways to support those that he has left behind, something came to my mind;
What happens to his account and portfolio in such an event?

This is really sad news that light_warrior leaves us so early. Maybe he had a lot more things to give to the forum.
But in this context, if you say what will happen to the account of Bitcoin Talk, such a question arose in my mind last year, and I also opened a topic about it, and from there I learned that buying and selling an account in the bitcointalk forum is not illegal, but it is discouraged, I also think that in this case the matter is much the same.
But talking about Bitcoin as a portfolio, no there is no option for Bitcoin handover or insurance. But what you can do for your future generations is to follow this method(Using Locktime for inheritance planning, backups or gifts) and send them Bitcoin as a gift. Moreover, once the private key is lost, the wallet will be lost for ever. You know na "Not your keys, not your coin."

Quote from: DdmrDdmr on July 04, 2022, 01:35:16 PM

Except for on rare occasions, people do not get to know for sure when someone passed away out of those with an account on the forum. As far as I’m concerned, I’m of the opinion that every account should be personal (*), and that there is no point in considering passing on the account to other members of the family – there certainly won’t be a procedure to do so from the perspective of the Forum (imagine needing to forward and deal with death certificates and so forth).

An account is not a milking active to pass over to other generations, and even if people did do so by passing on the credentials in some pre-planned manner, it’s pretty likely that someone will spot a complete change in posting style that may lead to some awkward situations at some point. Of course there is no impediment for someone to plan ahead and come accross their own account’s inheritance plan, but it doesn’t seem like something that would come as very top of mind thing when planning ahead for these events. In any case, I’d equate it pretty much to a bought account.

(*) There may be some exceptions, namely real business fronted by a given account which could merit a consideration, but likely all falling on the shoulders of the implied, with cero Forum implication.

Doan9269

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Quote from: Hewlet on December 09, 2023, 09:29:15 AM

What happens to his account and portfolio in such an event?

Is it possible that a third party can start using the account?

If he has no any bad records on ground before his demise, then any of his children, wife or family members can made a decision to take over his account as long as they are doing that legitimately, which also means that they should not forcefully or take over the account in an inappropriate manner, someone like Hal Finney after his departure got his account still active before going completely inactive, this is all about our own decision taken today, those around us we would love to be next of kin and the likes, this also goes along the way we safe of private keys to our bitcoin.

salad daging

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The @light_warrior account has been tagged with the RIP tag so this account does not need to be active or inherited as it will have a different posting pattern to the original owner, if a family wants to be active on the forum then they can create another account for their daughter. That's just an example.

About @light_warrior's portfolio his daughter has access to all the wallets owned by the deceased but she doesn't know anything about cryptocurrency this is a statement from @Xal0lex and someone can help to access it.

https://bitcointalksearch.org/topic/m.63287308

Jegileman

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Quote from: Hewlet on December 09, 2023, 09:29:15 AM

What happens to his account and portfolio in such an event?

For such users portfolio, it can be handover to his relations, wife, daughter or son. This is just like willing your wealth to your family after death. But for the account, it can’t willed, it will just remain tagged and dormant so that no one gets the details and claim that they are the one when the actual owner is late.

Quote

Is it possible that a third party can start using the account?

This is just like taking the degree certificate of your brother and you took it to apply for a work you are not knowledgeable about. Does it make sense? No, it doesn’t; because you can’t have the same knowledge as him, it is just like impersonation which is a serious crime and a punishable offense.

Stalker22

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Quote from: Hewlet on December 09, 2023, 09:29:15 AM

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Is it possible that a third party can start using the account?

Well, I suppose someone could start using your forum account if they got your username and password. That might happen if you shared your credentials to someone or got tricked by one of those phishing scams. It is possible alright. But should you let other folks use your account? I dont think so. These accounts feel personal, right? They are tied to one person. Not like a business you pass on to your kids and most folks here want their account to stay private.

adaseb

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For his crypto holdings he would need to show his family how to access the funds. Show how to use a hardware wallet or the password/seed to their cold storage setup. Without this the funds are lost. If they keep it on an exchange then there is a possibility of recovery eventually but would be alot of work.

For his bitcointalk account, it would be best if it was just not active. A family member wont have the same knowledge as someone who has been a veteran in crypto for years. Its also not good if the account is sold because that usually results in scams.

Dr.Bitcoin_Strange

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Quote from: Hewlet on December 09, 2023, 09:29:15 AM

it will be very easy for the family member to continue with what is left behind, I know bitcoin might not necessarily work that way but I just want to clear my curiosity

In his demise, his wife, children, brother, and sister should be able to access his funds, depending on whom he entrusted them to. If it's his children, then they will definitely get access to his fund; if it's also anyone in the family, they should be able to access his crypto asset. In a situation where he did not keep any trace of his crypto asset or left any information behind, that means his asset is lost forever.

Then, concerning his BTT account, since the account was created by him and he is not alive any more, whatever legacy he left here will remain. His account is not to be taken upon by anyone because the forum doesn't know what anyone who is going to be in charge of that account can do to destroy the reputation that the original account owner built while they were alive. It might not be a trusted person like the real account owner, and that's why it's advised for a new user to start their own account instead of buying or taking over someone else's.
If any of his relatives want to contribute to the forum, they have to start a new account by themselves and introduce themselves as relatives. Assets can be passed down to family and relatives, but not accounts. That's just my opinion.

nakamura12

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Well, if he didn't tell anyone about his portfolio then the crypto in his account will stay there and will be lost forever but if he did save it and give it to his family (like his wife or his son or daughter) then the crypto in his portfolio will still be in circulation once they will sell it. For Bitcointalk forum account then it is not proper to use it because the owner is different since the real owner is now gone. Even though the account isn't used for scamming people but still the account is red tagged if it is ever going active. There will be a neutral feedback in the account and will be changed to negative feedback as I have explained if the account go active or online.

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