Topic: What happens to my Bitcoin when I die? - page 5. (Read 814 times)

If you die your Bitcoin is still Bitcoin and wouldn't change anything.

If you tell someone about your private key, he can access your wallet and do anything with your coins.

While if you don't tell anyone about your private key and no one know about it, no one can access your coins and it's a donation for everyone. Because when you can't access your coins, Bitcoin supply will reduce... not all of them were in market. The more scarcity the more the price gone up.

This has been asked many times here so if you did a little research then probably you had an idea already.

Well anyway if you die and you didnt let your loved ones to know your private keys, your Bitcoin will be lost forever because no one can access it.

Dying is inevitable thus if you want your family to benefit on the assets that you will left, its best to inform someone you trusted the most.

It's simple, if you don't tell your wife or kids, you won't be able to pass the bitcoin benefits on to your family and the bitcoins will stay in your wallet forever.
it may not be good considering you have a family. so my advice is that you have to give your secret password to your wife or child who can be trusted to be able to be a re-generation to pass on your assets in the form of bitcoin.

Since cryptocurrency is a digital currency, if you die, it's all gone if no one has the access to your private keys. It's up to you to decide who you gonna trust to have access to your wallet private keys. As for me, am not disclosing mine based on how human beings behave when they seem to have access to your assets. It's better to stay alive with your private keys only known to you than think if your trusted relation has sold or withdrawn your crypto coins before your time

If you die without any of your family knowing your private key, definitely your bitcoin will be in your wallet forever,  you should secure your private key but atleast store it in a place where your family members can easily see it after your death. for me am securing my private key in my diary which I believe nobody will have access to it for now until i die and I believe after my death then my family members will be able to access my wallet and make use of any amount that's there.

They won't recover you private information because bitcoin still remain intact within the circulation of blockchain without being harmed or accessed by somebody. Much better if you have a trusted individual which you can divulge all the information you had if you think you're going to die soon. My advice to everyone who had illnesses, don't take your wallet securities secretly much better if you could have a prospect so that in case of death the asset will be recovered and be spend by the living person who can handle it.

for me, of course, the coin is for the closest and trusted person who can handle it. I mean we can't do anything and can only hope that our assets are managed well in the future, therefore choose someone who is trusted and able to manage it. just like any other investment where when we die, all assets will be taken over by the closest and most trusted person, so we just need to use it well while we are still alive.

So it is gome, because no one can open your wallet. Must be all people in family know about it, why not? this is big investment. Big investment, people near us must be know or at least can do basic thing about it. Doing investment by ourself wouldn't have good effect as impact, i mean don't need to keep a secret to our family if our investment is really big.

Well first --I will tell you that is not good if you will share with them about your private key, perhaps the best thing that you can do is to educate them about crypto. Because there is possible that one of your members will traitor you because of greediness and get all your crypto assets away from you.
The best thing is to put it into a metal case with a private key and tell them that you have a bitcoin but do not expose it first, just reveal your private key with your last will statement at the end.

Man, don't think about that so negatively! Soon we will be able to fuse with technology and then immortality baby!! Anyway, I'm guessing that anything that is left behind you is regulated by the country where you reside and are a citizen of. Sure, anyone would have to have access to it, but I am guessing all investments go to the first beneficiaries.

Well if your family doesn't know the password of your Bitcoin wallet then it will be loss forever, because we all know that the Bitcoin wallet can only be acces by the used of the private key  so if your family doesn't know about it then there's nothing they can do on it. I think the best or good strategy to avoid this thing to happen is to tell or share your private key to one member of the family.  I think there is no harm on doing this.

The reason many people invest in Bitcoin is that they want their family's future to be secure. Because Bitcoin does have the potential to generate
large profits if we hold it in the long term. So if we want our families to enjoy the results of the Bitcoin investments we make, tell our family
the password and where we keep the private keys. It's really sad when people hide everything about Bitcoin from their families. Because everyone
must die and everything will be wasted if the Bitcoin that we have cannot be inherited. So don't delay telling our families how they can access
our Bitcoins. Because we never know when our death will come, we have to prepare everything from the beginning.

Emotions could really play someone and this is where it do varies on how much you do love your family specially your wife and children.If you do really mind on giving them at least the benefits on what you are working hard for then you would definitely mind off on how you would share those
important or valuable information.

You wouldnt really just let everything would come to waste and as a father or family man then you would really be thinking this way.

I also have created a thread similar to this years ago. All I'm going to say here is be careful when disclosing your situation about bitcoin with loved ones, it is a very touchy subject. Whenever money is involved then there's some precaution that you must think about even if it's with the person you love or wife.

I don't want to turn this thread into the dark but let's be honest here guys, most of the murders around the world happen for a man or a woman, and years later with the investigation, it turns out to be the spouse that did it to gain something. I know its sad but this is reality. I am not saying all spouses do this but more times than you may think whenever the husband or wife discloses to their loved ones about "Life insurance" if the gain is big then suddenly we see that person dead. Please don't mistake what I am trying to say here I know it's not ALL THE TIME. But I've seen many many many stories about a homicide and then later on we found that the poor man had life insurance then the wife killed him for that money. It's sad but happens ALOT.

Ok, so what's the msg I am trying to say here is. Do not tell the wife/husband how much you got in bitcoins, if you're a girl or a man and want to leave your bitcoin for your family after you're dead just leave a full paper with instructions as some of the guys posted previously. Instruction of how to get the money out of your wallet or exchange, plus a person to contact which you know that he/she knows something about cryptos. Also don't tell that person whom you added to contact about this paper, basically tell nobody just do the paper with instruction & contact personal and leave it in a vault. Rest assured that this vault will be opened when you are dead.

Thats my 2 cents.

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I understand that you mean well here but this is a death sentence. Read my post above which I explain how that could be in a long msg, but please do not do this especially if you own a lot of bitcoins.

Some people may feel touchy that I said telling secrets to your "kids & wife" as a death sentence because they love them a lot and they feel that their wife&kids love them too a lot! Believe me, I understand this, but human beings are complicated.

If you have not told them your private keys to your spouse or kids, and if you die, then those coins will be lost forever and no one will be able to use them. If you want that your wife and kids benefit from your saving, you need to trust them and share with them the private keys. You may keep them private in a locked safe and tell your spouse to open them if only once you are no longer alive.

Death is inevitable. We can only delay it from happening, but it's certain that it will happen. If you have an account that has funds in it, I suggest to let your trusted person know about it so that when unfortunate event happens to you, someone can access your account. Make sure to let only the person who you trust the most to know about important details about your account, otherwise it will be compromised. I know it isn't really advisable to give out password and seedphrase, hence you can opt to give them the partial information only and not everything all at the same time.

It's better to have a notebook that contains significant information about your funds and then store it in a safe place such as vault that no one knows about as long as you are fine. You can opt to tell your trusted someone to know that you have a vault, but don't tell where it exactly is. Leave them some sort of message, riddles, or mind puzzle to find it and its password. That way, you are not telling outright and easily the crucial information. You can also choose to make the password or seedphrase a puzzle for them to solve upon. Just leave them some clues so that they could benefit from what you worked hard for.

If you won't do this, or any other kind of way to let someone access your account the moment you fell from your demise, all the things you've worked hard for will all just be put to waste. It won't be benefited by anyone. Except the holders because every lost or unretrieved coins contribute to the price increase because of lower supply and higher demand. But other than that, it will have no more use. It will just be stuck in the blockchain as long as it is running.

If you didn't give it to them then of cause they wouldn't have the necessary information to retrieve your crypto assets from where ever they are so, you already know what to do. This has been a discussion over time in a different post and for me, it is highly recommended that some family member have this info or is able to access it in the case of death so that your crypto investment wouldn't be wasted.

Well, hope you live for long years but after you die none can access your bitcoins and withdraw or exchange anything from your wallet unless you have a plan for your children to take benefits from all you left, you can just write your recovery seeds and keep it somewhere safe where only the most trusted you know can use and see the recovery codes after you died you can have many plans like writing the location of the recovery seeds on your will, however in case your funds can still in danger also you should consider alternative plan if your children couldn't find the seeds.

Dead is inevitable and unpredictable, so the solution is having one of your family members that you trust and let the person know where you save your private key, passwords  and email address associated your accounts.

It is recommended that passwords or private keys be kept confidential, meaning that we can still provide confidentiality to people we can trust. if you trust your kids and your wife i think you can give them your private key. because the age of humans cannot be predicted when they will die. I think so, than bitcoins stored forever in your wallet in vain.