Secure Your Legacy, Educate Your Loved Ones - page 2.

Blitzboy

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Quote from: fuguebtc on September 28, 2023, 11:43:24 PM

Quote from: MFahad on September 23, 2023, 12:06:02 AM

I think that a head of house will not think about himself because whatever he is earning is for his family. So if someone is working hard day and night for his children and family so he should also share his earning potential with them.

If a person accumulate bitcoin for a reason that it will provide benefit to his family and suddenly he dies without giving knowledge about it to his family then I think his whole hard work becomes useless. Always think that a single person cannot get whole money as life is unpredictable so prepare your investment in such a way that it can be beneficial for both you and your family.

Share your knowledge of bitcoin with your family so they if they grew up surely they will be profitable as they have learned all the things in advance.

Indeed, we try to work hard to earn a lot of money not only for ourselves but also for our loved ones. But there are still some people who consider money more important than family affection. I remember a long time ago, I read comments that they don't want to share their bitcoin secrets with anyone, not even their parents or wives, they don't trust anyone but themselves. I really don't know what those people were thinking when they could say those things. I wonder, if there are no parents, who will raise them, why do they doubt their own parents?

After all, bitcoin is money, if we lose it, getting it back is not too difficult, but if our parents are no longer there, can we get their back?

I understand. People can often let money, even Bitcoin, cloud their judgment. When I think about it, Im reminded of how fleeting and unpredictable the value of Bitcoin can be. We've seen it surge; we've seen it decerease. Yet, some people are so addicted in it that they forget the real value of human connections.

I mean, come on, folks. Trusting a digital currency more than your family? Thats a sophisticated problem right there. Are we really afraid of someone finding out our Bitcoin secrets? If Bitcoin vanishes tomorrow, you can probably find another way to make money. But can we replace trust? Can we replace family? No. And, in this wild, wild world of crypto, I believe its important to remember who and what really matter.

Despairo

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Quote from: fuguebtc on September 28, 2023, 11:43:24 PM

Indeed, we try to work hard to earn a lot of money not only for ourselves but also for our loved ones. But there are still some people who consider money more important than family affection. I remember a long time ago, I read comments that they don't want to share their bitcoin secrets with anyone, not even their parents or wives, they don't trust anyone but themselves. I really don't know what those people were thinking when they could say those things. I wonder, if there are no parents, who will raise them, why do they doubt their own parents?

After all, bitcoin is money, if we lose it, getting it back is not too difficult, but if our parents are no longer there, can we get their back?

Because not every people in this world are raised in the same way.

According to your post, you're raised with a good parenting and your wives are nice to you, this make you willing to give everything you have to your loves ones.

But there's a person who start to work when he was still 7 years old because his parents abandon him, his wives choose other rich man over him etc. So who can he trust?

gunhell16

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Quote from: mirakal on September 28, 2023, 05:58:00 PM

Whatever you do at a certain point, especially when it's all about making wealth, make your family aware of it so they can back up you when you're no longer capable of what you used to do, like having a terminal illness or you're no longer existing anymore.That is one way to prepare yourself and your family as well so they can still pursue all the time and efforts you have put in a certain investment, and enjoy those benefits you have store for them.

I agree with you as you say this since it is accurate, moral, and logical. In reality, it should be the case that as we grow stronger, we will progressively inform our loved ones about what we do in the cryptocurrency industry because they are the reason we are aging.

Because I won't always be strong, I'm educating my wife to grasp how to understand the trading concept in the cryptocurrency field. I'm doing this gradually. And what role does blockchain technology play in the era we currently live in.

fuguebtc

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Quote from: MFahad on September 23, 2023, 12:06:02 AM

I think that a head of house will not think about himself because whatever he is earning is for his family. So if someone is working hard day and night for his children and family so he should also share his earning potential with them.

If a person accumulate bitcoin for a reason that it will provide benefit to his family and suddenly he dies without giving knowledge about it to his family then I think his whole hard work becomes useless. Always think that a single person cannot get whole money as life is unpredictable so prepare your investment in such a way that it can be beneficial for both you and your family.

Share your knowledge of bitcoin with your family so they if they grew up surely they will be profitable as they have learned all the things in advance.

Indeed, we try to work hard to earn a lot of money not only for ourselves but also for our loved ones. But there are still some people who consider money more important than family affection. I remember a long time ago, I read comments that they don't want to share their bitcoin secrets with anyone, not even their parents or wives, they don't trust anyone but themselves. I really don't know what those people were thinking when they could say those things. I wonder, if there are no parents, who will raise them, why do they doubt their own parents?

After all, bitcoin is money, if we lose it, getting it back is not too difficult, but if our parents are no longer there, can we get their back?

Negotiation

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If the person does not tell anyone his information for investing in bitcoin it is very difficult to get the information in the absence of the person. That's why it's better to teach people close to you about bitcoin inheritance in future he will be able to control them very easily. Everything can be done safely by teaching your son or daughter or your wife if you keep the family's trust and confidence, it will not be difficult to enjoy life. That's why I'm slowly educating my family about bitcoins so that they can easily manage them if they go somewhere in a hurry.

bitzizzix

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This is what I thought before, and I have been educating my wife about Bitcoin, especially in terms of transactions, and for other things I taught her as time goes by.
And I also say that Bitcoin is for the future or old age, and also to anticipate when I am no longer in this world because no one can predict the death that will definitely occur.
And I also keep the Bitcoin wallet keys in my own way and only my wife knows about it, and currently only my wife because my child is still very small and when he grows up I will educate him because he is the one who will get the Bitcoin inheritance.

macson

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Quote from: alastantiger on September 21, 2023, 01:21:51 PM

This is the saddest story I have read today. The lesson from it is to make the most of your time while you are here, both for yourself, family and friends. Do not relent on asking all the questions you need to ask about bitcoin so that you will be able to secure the financial well being of your future generation in your absence. Do not just learn about bitcoin and keep the knowledge to yourself. Educate your kids, educate your spouse. Though they may not understand it at first but with time, they would. It will be painful if a bitcoin holder die after accumulating 1, 2, 10, 15 or any amount of bitcoins dies and his family can't have access to his bitcoin because he didn't teach or educate them about it. They would have missed out on the potential for financial security and prosperity that Bitcoin offers.

This is a sad story, when we live in a short time but don't teach the slightest thing we know about Bitcoin and other cryptocurrencies to our children.
my child is still small, not yet 5 years old, but he often sees me opening the computer and when i trade for a while he always asks him 'what is that dad', i have great intentions to teach him bitcoin and everything i know later when he 10 years old or more, that is if he is interested and has a great curiosity about bitcoin ^{(i won't force that)}

mirakal

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Whatever you do at a certain point, especially when it's all about making wealth, make your family aware of it so they can back up you when you're no longer capable of what you used to do, like having a terminal illness or you're no longer existing anymore.That is one way to prepare yourself and your family as well so they can still pursue all the time and efforts you have put in a certain investment, and enjoy those benefits you have store for them.

AmoreJaz

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Quote from: Finestream on September 28, 2023, 03:48:27 PM

I really believe it's one's responsibility not just to keep your investment all by yourself but to teach your spouse and your kids as well so they will know how to continue your legacy even if your presence is not here anymore. That is to assure yourself that whatever you put effort into it, your family will certainly benefit and will never be a waste of money and effort for you especially when you're suddenly gone and your family has no hold to your investments.

so long you have someone at least one person who knows what you're dealing with, they have the chance to get what you have. it is not really advisable to just keep it on yourself, without trusting any single person.

Smartvirus

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Quote from: alastantiger on September 21, 2023, 01:21:51 PM

This is the saddest story I have read today. The lesson from it is to make the most of your time while you are here, both for yourself, family and friends. Do not relent on asking all the questions you need to ask about bitcoin so that you will be able to secure the financial well being of your future generation in your absence.

I don’t see a sad part on this thread or perhaps am missing a point which you didn’t spread out for me to understand?
The individual in context as the screenshot on the thread carries depicts that, steps were carried out to ensure safety of self and family hodlings by this individual in context so, what’s the sad part?
His demise? I suppose not as that is inevitable in a persons life, bless his soul though but, hope he was aged enough and he’s left behind can find the strength to bare there lose.
The sad part still, is it on your side as to not have done anything about your hodlings?

The unforeseen nature of these incidents and the privacy nature of bitcoin makes it a difficult to decide on what’s the best means of making this inheritance possible.
Well, it isn’t a strange thing in the forum no more as several threads have been created on it.

puloweh555

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I agree with you. When we talk about death, we don't know age or time, everyone will definitely die. So what we have to do is tell our Bitcoin asset ownership to our family or people we trust. Because that way, after we die, our Bitcoin assets can be taken over by our family. This way it also ensures that the bitcoin assets can actually be utilized by the heirs.

I have also read an article about this where it is very important not to take this as trivial. He is Hal Finney, one of the early adopters of Bitcoin, he wanted all his Bitcoin asset ownership to be passed on to his children so he gave them the keys to his bitcoin wallet so they could access it. When he died in two thousand and fourteen, his children were still able to access and benefit from his Bitcoin investments. However, we also have to teach our families about bitcoin technology first so they can manage bitcoin safely.

Finestream

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I really believe it's one's responsibility not just to keep your investment all by yourself but to teach your spouse and your kids as well so they will know how to continue your legacy even if your presence is not here anymore. That is to assure yourself that whatever you put effort into it, your family will certainly benefit and will never be a waste of money and effort for you especially when you're suddenly gone and your family has no hold to your investments.

Webetcoins

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Quote from: zaim7413 on September 22, 2023, 03:32:24 AM

Don't let all the assets you have collected so far go with you, you need to take steps to protect your assets by teaching your family members how to access the wallet where a number of assets are stored in it. Share the Seed Phrase with your loved ones then spend a little time teaching them how to exchange the assets in their wallet. This sad story could happen to anyone, anytime and anywhere. Immediately educate family members so they can access the wallet which has so many assets stored in it because they have the right to enjoy all the wealth you have collected so far.

Why not when we are the ones who save it? We should benefit on it first before the others but we can share our blessings to others if we have extra, or we can just follow what you said there, so that they are the ones who will benefit from what we will left in case a bad thing happen to us.

I still think that many of us are having a hard time of doing it. It's either we are greedy or we don't really like the attitude of the people around us. We need to try though and decide as long as we are still breathing. Don't let that the number of lost Bitcoins are going to increase again. It can make Bitcoin scarce but only the other people who are still living are going to benefit on it.

Dr.Bitcoin_Strange

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Well, investing in Bitcoin doesn't make one less likely to relate to their loved ones and family members, and while spending time with loved ones, you will definitely have someone you trust, either your mother, wife, brother, sister, or children. Among them all, you can tell one person about your asset without giving them complete access to it while you are still alive; you can just keep a trace so that should anything happen, they would be able to access your crypto asset. It has been discussed on this forum in different threads on how to transfer a crypto asset to your loved one if you passed to the after life. I have a few relatives around me who already know about my crypto involvement, and if I get married and have children, my children will definitely learn about Bitcoin when they come of age.

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Quote from: alastantiger on September 21, 2023, 01:21:51 PM

This is the saddest story I have read today. The lesson from it is to make the most of your time while you are here, both for yourself, family and friends. Do not relent on asking all the questions you need to ask about bitcoin so that you will be able to secure the financial well being of your future generation in your absence. Do not just learn about bitcoin and keep the knowledge to yourself. Educate your kids, educate your spouse. Though they may not understand it at first but with time, they would. It will be painful if a bitcoin holder die after accumulating 1, 2, 10, 15 or any amount of bitcoins dies and his family can't have access to his bitcoin because he didn't teach or educate them about it. They would have missed out on the potential for financial security and prosperity that Bitcoin offers.

-snip-

Yeah, if you are accumulating bitcoin and planning to hold for long term, then yes, you should also have a plan to pass it to your family in case something happens to you. Imagine saving bitcoin for the whole of your life and then something happens to you and you die suddenly. There would be no way for your family to access your coin unless they somehow finds your private key and any password/encryption associated with it. But yeah, the issue is, you might have to end up sharing your private keys. The best way to do it would be by storing parts of the private keys on different bank vault/storage boxes. Small storage space rental will cost you as low as $50 or something annually. Won't hurt to spend few bucks per year for your family.

Onyeeze

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What I understand for bitcoin education is that Bitcoin learning or education doesn't not finish, why the education of bitcoin doesn't finish because the knowledge of bitcoin continues moving on because is a technology and all its techniques can not be known once it is something I know that when you make your research and know the things that's strange or new things about the best thing to do is make that you passed the information across other people so that any other person can get the information, people always lament that we should teach our children bitcoin, yes it's necessary to teach your children bitcoin but don't enforce it to children to learn bitcoin, learning of bitcoin is a personal race and decisions so its not compulsory that all children most learn a bitcoin

MFahad

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I think that a head of house will not think about himself because whatever he is earning is for his family. So if someone is working hard day and night for his children and family so he should also share his earning potential with them.

If a person accumulate bitcoin for a reason that it will provide benefit to his family and suddenly he dies without giving knowledge about it to his family then I think his whole hard work becomes useless. Always think that a single person cannot get whole money as life is unpredictable so prepare your investment in such a way that it can be beneficial for both you and your family.

Share your knowledge of bitcoin with your family so they if they grew up surely they will be profitable as they have learned all the things in advance.

TheUltraElite

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So anyway, I applied as a merit source :)

Educating your next of kin about bitcoin becomes a key important thing because if you look into traditional investments, they all have the nominee system but since bitcoin is still new in this, we have to set up this nominee thing ourselves. Let not be saddened by the state of events but take this as a grain of salt into reality, we all will face this day and therefore get your close ones knowledgeable about crypto first hand, slow and steadily and then allow them access to your coins partially or send them coins to own once you feel they have learnt well.

Eventually they will learn and be able to take over as inheritance.

superman184

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Quote from: alastantiger on September 21, 2023, 01:21:51 PM

This is the saddest story I have read today. The lesson from it is to make the most of your time while you are here, both for yourself, family and friends. Do not relent on asking all the questions you need to ask about bitcoin so that you will be able to secure the financial well being of your future generation in your absence. Do not just learn about bitcoin and keep the knowledge to yourself. Educate your kids, educate your spouse. Though they may not understand it at first but with time, they would. It will be painful if a bitcoin holder die after accumulating 1, 2, 10, 15 or any amount of bitcoins dies and his family can't have access to his bitcoin because he didn't teach or educate them about it. They would have missed out on the potential for financial security and prosperity that Bitcoin offers.

I also thought about this in the last month when I was sitting at home and not working, because all this time my family didn't know about Bitcoin and in my house I was the only one who knew about Bitcoin. So I thought that I shouldn't keep quiet like this for a long time, because one day I have to tell about Bitcoin to my own family who generally live in the same house as me. It is inconceivable that someone who died had 1, 2, 10, or 15 Bitcoins in their wallet, but their family could not take a single Bitcoin that had been left behind by their deceased family member.

gunhell16

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That's why it's really important that you have a loved one that you can trust, especially if you're married. You should teach him as early as possible and familiarize him with what you're doing in the bitcoin or crypto business. Specifically, if you have at least 1 bitcoin or more, which, after all, when BTC becomes 100k, that is a huge amount, or if possible, make a will of testament to bequeath it to your loved one.

Bitcoin or other crypto assets here that are top cryptos can provide good savings to the family you leave in the future, and at least they have an inheritance to get from what we do here.

Topic: Secure Your Legacy, Educate Your Loved Ones - page 2. (Read 537 times)