What happens if we die? - page 13. | Bitcointalksearch.org

Bittoshi

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Quote from: Core.BUSTER on August 20, 2017, 03:05:05 AM

Quote from: dwieyani on July 29, 2017, 09:35:12 PM

When I die, before that happens I will teach my children to manage my bitcoin. And I've done that to the right to continue my bitcoin that has been running.

Well, if I die I will turn over all my bitcoin to my children and I will give also my wallet. In addition to that, I will make and earn more bitcoin and I will give it to my children if I die. I will also give my private key to my children. Lastly, I will hold my bitcoin and save it for the future of my children.

I also thought of investing some money into bitcoin for my daughters future. Just buy a bitcoin, print out the private key and address and hide it until she is 18. Then hand it to her and voila: She will be a millionaire if Bitcoin price continues to rise like in the past years. Grin

Bittoshi

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Quote from: Naster on July 29, 2017, 09:08:39 PM

Quote from: kidoseagle0312 on July 29, 2017, 08:58:50 PM

Quote from: friends1980 on July 29, 2017, 05:27:21 PM

Nope, this is no existential question (although...). Everybody's talking about "When will Bitcoin die", but what if you die, and your family don't find your key, or don't understand it, or think it's only a useless sheet of paper with some code on it, or simply throw it away... Does this mean the currency's gone forever?

I find the possibility of this event rather realistic (yup I don't believe in eternal life), so that means that someday there might be 21M BTC but only 18M (and counting down...) is left in the market?

I agreed with you,..That is ver much possible to be happen, So I think it is really good to do and needed that we need to teach someone we can trust about our bitcoin savings at least if there's unexpected happen to me there is person knows my private key and password.

Just what I thought. It's just leaving a will when you die, but instead you will give them private key with the instructions how they can retrieve the coins if they dont have any idea what it really is about

Yes, someone you trust should know a password to the documents or databases holding your private keys together with a short description what Bitcoin is and how to access and sell it. If noone knows about your bitcoins, they are lost when you die until some geeks someday brute force the private key.

Core.BUSTER

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Quote from: dwieyani on July 29, 2017, 09:35:12 PM

When I die, before that happens I will teach my children to manage my bitcoin. And I've done that to the right to continue my bitcoin that has been running.

Well, if I die I will turn over all my bitcoin to my children and I will give also my wallet. In addition to that, I will make and earn more bitcoin and I will give it to my children if I die. I will also give my private key to my children. Lastly, I will hold my bitcoin and save it for the future of my children.

JohnBitCo

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Quote from: hahay on August 19, 2017, 01:44:56 PM

If we die then all we have will die as well, to anticipate it better we choose people we can trust to continue what we have now then all your wealth will continue until your children and grandchildren. But if you choose to keep it a secret, I think it's a free choice for you to decide.

This is not as complicated as we have made it here. Person holding the Bitcoins has to die one day and of-course his siblings including wife, husband, son, daughter and in some cases patents has the rights on the deceased person money whether is held in cash or in the form of digital currency. If any of these person has access to the computer where the wallet is stored, he /she can easily open the wallet and transfer money to their own personal bitcoin address.

btcprospecter

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Written instructions are a must unless they know about bitcoin and like said private key given to someone that you trust. I suppose it all has to do with your vision for your bitcoin if only a small amount you may invisage keeping it for your great grandchildren

zarados

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Quote from: friends1980 on July 29, 2017, 05:27:21 PM

Nope, this is no existential question (although...). Everybody's talking about "When will Bitcoin die", but what if you die, and your family don't find your key, or don't understand it, or think it's only a useless sheet of paper with some code on it, or simply throw it away... Does this mean the currency's gone forever?

I find the possibility of this event rather realistic (yup I don't believe in eternal life), so that means that someday there might be 21M BTC but only 18M (and counting down...) is left in the market?

How long you want to keep your btc? I think you have a beatiful plan for it use. But remember, we're not live forever, Nobody. So by doing investment with this crypto, you need to tell someone you can trust, just told him/her, you have an asset in bitcoin, and you keep it in online wallet, and you have print it seed. So If you're gone, and dont have a time to use it, they will find and learn how to use it, because its your legacy.

LindaQ

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Quote from: friends1980 on July 29, 2017, 05:27:21 PM

Nope, this is no existential question (although...). Everybody's talking about "When will Bitcoin die", but what if you die, and your family don't find your key, or don't understand it, or think it's only a useless sheet of paper with some code on it, or simply throw it away... Does this mean the currency's gone forever?

I find the possibility of this event rather realistic (yup I don't believe in eternal life), so that means that someday there might be 21M BTC but only 18M (and counting down...) is left in the market?

It is important that you need to tell someone you trust about what are you doing with bitcoin. Family or best friend. If worst thing happen to you, like accident or something. They can use it to help you.

Boys27

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That's unthinkable to me, therefore I will tell my family about bitcoin, if I died there is still yatng get bitcoin my work, I pray that all friends who work in bictoin longevity and healthy always

chixka000

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Quote from: Meuh6879 on July 29, 2017, 05:35:27 PM

valuable assets are only usefull when they are used ... and limited.
Bitcoin does this perfectly.

Exactly. We should never stop circulating this asset. Cause if we do it will slowly goes down. However that certain amounts that are wasted is so disappointing to look at. That should be divided to all user in my opinion(yet how to consider if the person dies and there is no beneficiary of his amount is almost impossible)

GoodLuck2

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Quote from: Silver.Bit on August 19, 2017, 05:15:15 AM

Quote from: Mikasa77 on August 19, 2017, 05:10:24 AM

Quote from: Serco on July 29, 2017, 09:18:13 PM

Well, I have not even thought about it yet, So it's good to make a will with the private key that we have to give to people we believe if something happens to us later a good anticipation step

Yes i think we should keep our private keys to one trusted person who was very close to us so that if these things happen they can used our money that we have saved in out wallet.

Could also leave they keys in escrow as part of your will with your lawyer - this is a good topic for discussion in the legal world.

Yeah, including the keys in your will is the best way they can be used after you. But what if we don’t have anyone who belongs to us? What if we don’t have anyone on whom we could trust much that he/she will use it in correct way? I think in that case we must hand it over to some business man. It will be a good act done. It will help that person and there will be no risk of their being wasted.

cherryganda

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dying is the door to a lifetime hapinesss or reincarnation ? noone know !!! but what ever happen i will thank whoever responsible for this for letting me in this damn beatiful wold.. ilove liiving here even problems occur .. unstoppable... unremarkable and never get empty as long as i have my children with me this is paradise

Skieleton

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It is always risky but thanks to that BTC is so valuable. We can always protect ourselves by giving access BTC to our trusted person.

Apes

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Quote from: hahay on August 19, 2017, 01:44:56 PM

If we die then all we have will die as well, to anticipate it better we choose people we can trust to continue what we have now then all your wealth will continue until your children and grandchildren. But if you choose to keep it a secret, I think it's a free choice for you to decide.

if the wealth of what kind of debt can be downgraded to posterity? - if a dead and want to descend all of their wealth to posterity but they do not know its existence what to do while it's gone dont know their whereabouts?

HalfDeck

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Yeah, I have think about this issue, but honestly until today I still don't have more time for explain my family the method use cryptocurrency if in someday I die earlier them. I hope in next time can spend one week for solve this issue.

Ayiranorea

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Quote from: hahay on August 19, 2017, 01:44:56 PM

If we die then all we have will die as well, to anticipate it better we choose people we can trust to continue what we have now then all your wealth will continue until your children and grandchildren. But if you choose to keep it a secret, I think it's a free choice for you to decide.

Yeah when we die we can't take anything with us. We will be going empty handed, it's good to hand over to someone else or make others make use of it and get benefitted. For this it's good to teach an trusted person or the family members how to access it, if something unexpected happens.

hahay

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If we die then all we have will die as well, to anticipate it better we choose people we can trust to continue what we have now then all your wealth will continue until your children and grandchildren. But if you choose to keep it a secret, I think it's a free choice for you to decide.

aardvark15

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Quote from: Mikasa77 on August 19, 2017, 05:10:24 AM

Quote from: Serco on July 29, 2017, 09:18:13 PM

Well, I have not even thought about it yet, So it's good to make a will with the private key that we have to give to people we believe if something happens to us later a good anticipation step

Yes i think we should keep our private keys to one trusted person who was very close to us so that if these things happen they can used our money that we have saved in out wallet.

Private keys should be in your will or in a safe deposit box with instructions on what to do with them. If it's not clearly explained, those Bitcoins could be lost forever. I'm sure this has happened many times and will continue to happen since Bitcoins have recently begun to be worth a lot of money. In the past, Bitcoins were less valuable and people were probably not as cautious.

Silver.Bit

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Quote from: Mikasa77 on August 19, 2017, 05:10:24 AM

Quote from: Serco on July 29, 2017, 09:18:13 PM

Well, I have not even thought about it yet, So it's good to make a will with the private key that we have to give to people we believe if something happens to us later a good anticipation step

Yes i think we should keep our private keys to one trusted person who was very close to us so that if these things happen they can used our money that we have saved in out wallet.

Could also leave they keys in escrow as part of your will with your lawyer - this is a good topic for discussion in the legal world.

Mikasa77

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Quote from: Serco on July 29, 2017, 09:18:13 PM

Well, I have not even thought about it yet, So it's good to make a will with the private key that we have to give to people we believe if something happens to us later a good anticipation step

Yes i think we should keep our private keys to one trusted person who was very close to us so that if these things happen they can used our money that we have saved in out wallet.

andrew24p

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There is a large possibility that coins are slowly disappearing which only makes bitcoin a better store of value. Its not like a physical bar of gold where you can claim it if you die by just picking it up. If someone doesnt know the password or the private key, essentially its gone forever. I personally have my passwords hidden in my room and hope that if I die my family could access my coins.

Topic: What happens if we die? - page 13. (Read 5635 times)