What happens to the coins after your death ? - page 3.

suryana

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this is not an interesting thing for us to discuss because this is very much related to the future to come,because death cannot be separated by anything,but we have people closest to us that we can use to continue or give what we have been so far.so that they are free to choose or sell what we have pioneered or continue what we have been doing if they do not intend to continue what we have achieved so far.

I think this is very important we discuss, giving the private key must be done immediately because whenever we can die, bitcoin is an asset that may be very expensive after we die so that it makes our loved ones get great benefits and they become successful people.

This must be done, make a letter of inheritance. Because by giving our account key, who knows the coins that we have produced so far are very useful for our family, class, education of our children. So don't be stingy about sharing your password with your wife or family.

South Park

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Quote from: haasanjui on August 04, 2021, 11:35:20 AM

We are taught to being not share your keys to anyone. After death coins are useless for family. If anyone leave its keys in his personal dairy then it can be benificial for his family otherwise coins are useless.

We all know that which is why we want to find ways to share our coins with our families, but the problem is that with the nature of cryptocurrencies you can lose your coins if one of those family members decide that they want to take the coins prematurely, after all we know that the person that owns the private keys is the owner of those coins so by revealing that information to them you are already giving them the right to move your coins in whatever way they want, so it is a difficult problem to solve and so far there is not an easy solution for it.

tiCeR

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Quote from: rodskee on August 05, 2021, 10:12:09 PM

Quote from: JohnBitCo on June 27, 2021, 12:05:30 AM

In most of the cases when the person dies, his crypto would become useless if his family member do not know about his keys.

I do not usually tell my password or keys to anyone and i know majority of the people don't do this. We are being taught to keep the keys safe.
No one think that one day he will die and in that case, his family won't be able to use those savings (bitcoin/crypto) if they don't know the keys.
Also people won't like to share keys with siblings or wife because they can misuse them . So what could be the solution to this Huh

It will be gone forever so the solution for this? know who you will trust and the person you know will never take advantage of your coins. i know that it is hard to find but that is what you needed to have.
or else put your crypto details in a written and put in your bolt that will keep in your safest place or in paid location so in time your family will have access when you die .

It is actually a shame that by now there isn't a well known and strong solution to store your keys on the blockchain in a vault such that if you don't interact with the vault according to predefined parameters, the keys get released to a certain email-address or whatever you defined as the receiving endpoint. That should definitely be doable for decent developers.

fuguebtc

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Quote from: Mr.sprin on August 05, 2021, 10:24:16 AM

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When it is my time to go my coins will go to my children. This is set in stone in a Will that is prepared and modified every year.

the question is whether you have time to give assets to the child of death no one knows when he will come it's better you give your assets before you leave at least you give the keys to your child or wife.

That's right, save it all on a usb or write it all down in a notebook. And give it to your wife or someone you trust. Maybe they don't know how to use them yet, but at least they can know your assets are in there. I think there will be a way for them to be able to access your assets after you are gone.

airdata

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You asked a very interesting question betweens of cryptocurrency and life. I am a crypto investors and also altcoin holder and i never want to share my personal data with my friend or with other member, becouse it maybe dangers for my fund. But as my opinion we can share our crypto data with our most trusted family member, for example, if you are a marred person, then you can share it with your Wife or Son/doughter and if you are a unmarried then you can share it with your other trusted family member. Also we can backup our all data on a Diary.

JohnBitCo

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When it is my time to go my coins will go to my children. This is set in stone in a Will that is prepared and modified every year.

This is crypto and not the bank where you can provide them the Will on whom the coins should be distributed in case of the onwer death. It's you who have to decide this in your life and share your keys with your near and dear ones. If you delayed, you may die and the coins never go to anyone and technically become useless.

rodskee

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Quote from: JohnBitCo on June 27, 2021, 12:05:30 AM

In most of the cases when the person dies, his crypto would become useless if his family member do not know about his keys.

I do not usually tell my password or keys to anyone and i know majority of the people don't do this. We are being taught to keep the keys safe.
No one think that one day he will die and in that case, his family won't be able to use those savings (bitcoin/crypto) if they don't know the keys.
Also people won't like to share keys with siblings or wife because they can misuse them . So what could be the solution to this Huh

It will be gone forever so the solution for this? know who you will trust and the person you know will never take advantage of your coins. i know that it is hard to find but that is what you needed to have.
or else put your crypto details in a written and put in your bolt that will keep in your safest place or in paid location so in time your family will have access when you die .

Semar Mesem

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Quote from: Sihab76 on August 05, 2021, 01:38:45 PM

Quote from: ?? on ??

When it is my time to go my coins will go to my children. This is set in stone in a Will that is prepared and modified every year.

Of course, your ideas and plans are right because my next successor will be the owner of my property after death.I have already handed over all my documents to my daughter. My daughter will own all my virtual coins after my death.

.

It's a good idea to give all bitcoin data to our child, this will certainly make him feel the benefits of the work and investment that we do, to take care of other things of course we don't rely on providing data to at least 3 trusted people.

Sihab76

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When it is my time to go my coins will go to my children. This is set in stone in a Will that is prepared and modified every year.

Of course, your ideas and plans are right because my next successor will be the owner of my property after death.I have already handed over all my documents to my daughter. My daughter will own all my virtual coins after my death.

tiCeR

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Quote from: ?? on ??

When it is my time to go my coins will go to my children. This is set in stone in a Will that is prepared and modified every year.

But you still can't get around forwarding the keys to your family in a secure way. You can't even put those down in your last will and leave it with a notary obviously. That is the biggest issue. Where to put the keys such that access is guaranteed for the family without making it easy for others to access it without authorization. Not the easiest problem to solve and unless you don't trade at all, an update once in a year also sounds insufficient.

Mr.sprin

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When it is my time to go my coins will go to my children. This is set in stone in a Will that is prepared and modified every year.

the question is whether you have time to give assets to the child of death no one knows when he will come it's better you give your assets before you leave at least you give the keys to your child or wife.

Kaylana

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I belong to the minority. I told my sister my wallet private key and exchange password. Every time I take a plane, I will remind her how to deal with my encrypted assets in case I have an accident. She is someone I can trust, so I told her this, even if she doesn't understand what Bitcoin is. Grin

I don't want my assets to disappear with my death.

bitterguy28

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Quote from: haasanjui on August 04, 2021, 11:35:20 AM

We are taught to being not share your keys to anyone.

who thought you this ? lol the forum mentioning about not sharing to the people we don't know or those people we do nut trust but not necessarily means even our wife and children lol.

Quote

After death coins are useless for family. If anyone leave its keys in his personal dairy then it can be benificial for his family otherwise coins are useless.

diary ? why need to leave in diary when your parent or siblings or wife,children can be the people to let know of your funds? and besides this will gone in the wind if you dont.

Mr.sprin

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if death comes and your assets are in crypto only you know then all your assets also die meaning they can't be taken by others, death will definitely come then it's better to tell the key to people you can trust such as family, children or wife so that our hard work is not in vain.

sherenikaw

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When death occurs, all assets owned will be abandoned as well and we need a replacement to be able to manage the assets we have. Therefore, personally, I am currently starting to introduce the crypto world to those closest to me so that if this happens there will be a substitute to be able to handle it. Whether it will work or not at least I have passed on what I have. Therefore from now on we have to really manage it well so that we can also get good results and we just have to reap the results later.

oktana

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Don't share your private key with anyone. However, depending on the kind of family that you have, you and your family can be one. You can be so united that y'all trust yourselves. But if your case is not so, you can leave them a clue based on their intellegience. You can store your keys in a secret place but not too tough for family. What if you store it in a device that only your family member's fingerprint can open but you won't let them have access to the device. Or what if you split each key between different courts, instructing them to give it out on confirmation of owner's death?

I have not thought about it, as far as I know there are already USB devices that can only be opened with your fingerprint, so if the USB encrypts all the information that goes inside then you can set it so it only opens with the fingerprint of the one you want to leave your coins but you do not give them access to it until you pass away, this is not a bad way to inherit your coins and I am going to look into it a little bit more to see if it is a viable strategy.

Mehn, I cannot trust these USB devices. I have seen flashdrives (pendrives) have errors and the owner looses vital information. In a case like money, I don't think USB devices is a good way to store your keys. Ever wondered about it having some virus and getting corrupted? Even if they say it is virus-free, mehn, we are talking about money here; one must be careful to avoid permanent loss of funds.

I came to the same conclusion of my own, after all storing something long term in an USB is simply not a good idea, I have had USBs that died on me from one day to the other for no reason at all which means that it is not really a reliable way to store your coins and hope that they are there for long enough for the person that you want that it gets your coins to actually do so, I suppose that I still need to study the subject and see if there is a more viable solution.

I already attended to this in my initial reply to this topic. You can have two courts hold different halves of the private key and have them release it upon death confirmation. Though no one prays for death, this is a smart thing to do already.

livingfree

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Quote from: glendall on August 04, 2021, 08:59:31 AM

will be buried into a treasure, if my heirs do not know my virtual treasure, or at least until my children can access and learn to find out my files,
as an anticipation I will introduce crypto early on at least to my wife so. that my crypto assets will still be useful if I die

Do it because we don't know until when we're going to stay.

Just teach her how to import keys and how to download wallets that are official. Remind her that there are fake wallets that will sweep your wallet's balance if you enter your private keys there.

These assets are really going to be a big deal to them in the future.

DibiaVxosis

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Quote from: Lorence.xD on June 27, 2021, 12:38:22 AM

Depends on what measures you've put in place when you were still alive, if you don't have anything then that bitcoin is already a lost coin that will again contribute to the permanent increase of price of bitcoin, you really don't have to plan about it ahead of time, it just makes you anxious that your death could happen any day.

No body is planning for death, everybody wants to live till their old age Buh things happen so quickly, it's really so bad how many crypto enthusiast saves their lifes fortune in crypto and when there are no more all those possession will be a waste, the plan had always been to make an impact, when we are no more our loves one's should benefit from our good works instead of it being a full waste because no one could have access to it.

MinoRaiola

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One thing is for sure, they will be in the blockchain forever and will be seen by everything. So as long as the Internet exists, you will also be able to use the coins, as long as you are well organized. After my death, i should have a person there i trust „referably even during life“. That way nothing gets lost.

albon

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Quote from: JohnBitCo on June 27, 2021, 12:05:30 AM

So what could be the solution to this Huh

Your coins stored in your wallet after your death become useless and each of us should make one of his trusted family members know the private keys to the wallets and if this trusted person has no knowledge of the use of cryptocurrencies, we must teach him everything that should be done if the owner of the wallets has any accident so that he can get the money.

Topic: What happens to the coins after your death ? - page 3. (Read 2419 times)