I'm working on a cool product that will solve exactly this problem! Details to follow, but in a couple months. Working on some new prototypes. :-)
What project will this be? sounds cool to me.
Topic: The emergency death plan - page 2. (Read 2080 times)
What project will this be? sounds cool to me.
What do you exactly mean when you say that a bitcoin wallet has a decentralized nature?
I'm working on a cool product that will solve exactly this problem! Details to follow, but in a couple months. Working on some new prototypes. :-)
I read this thread because I thought it was going to be another Gox thread with the "emergency death plan", but no. Anyway, Holliday is right. You can give the pieces to your attorney, friend etc.
Use a M of N paper wallet. There are many places you can keep pieces for your family to access if you die. Will. Safety deposit box. Et cetera.
Anyone with access to only one piece won't be able to do anything with it. Make sure your family can get the pieces to access your coins in the event of your death.
Anyone with access to only one piece won't be able to do anything with it. Make sure your family can get the pieces to access your coins in the event of your death.
The following is very obvious, no break through here, but I still want to address it just because it almost too obvious. The normal event when/if you die is that your closest relative or husband/wife inherits all your financial belongings (if nothing else specified). That also includes bank money (I guess).
A bitcoin wallet is a bit different because of it's decentralized nature. It will be very much inaccessible without the password if encrypted and the coins forever lost. If you have a noticeable amount of bitcoins I highly recommend you share the password to at least one more person you trust or maybe if your country has some kind of death-program you can put your secret data in. Do not store it at your home in case of robbery or fire. You never know when a stone fall from the sky!
A bitcoin wallet is a bit different because of it's decentralized nature. It will be very much inaccessible without the password if encrypted and the coins forever lost. If you have a noticeable amount of bitcoins I highly recommend you share the password to at least one more person you trust or maybe if your country has some kind of death-program you can put your secret data in. Do not store it at your home in case of robbery or fire. You never know when a stone fall from the sky!
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