What happens to the coins after your death ? - page 6.

bitterguy28

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that's the risk of owning crypto. if we die the coin will die, but if we share our wallet with people around it will definitely be misused.
so maybe we have to have 1 trusted person from our family member to be able to access our wallet maybe our child or wife

Actually that is not a risk but a Security advantage , imagine if the bank will held your funds and you died without your family knowing the funds? it will be their money in time.

so with bitcoin no one will benefits unless it is our willingness to let them have.

that is our obligation , either let them learn our funds and have access or die the coins with us.

vania vin

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true for our families like children and wives, we must know the assets that we have, otherwise all of our assets will die with us, later the assets that we store in our wallets become inheritance for our children with the condition that the key must be given to our wife or someone who can we believe.

temple

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Quote from: Pamadar on July 21, 2021, 01:21:56 AM

Quote from: blackened515 on July 20, 2021, 06:12:31 PM

Quote from: Amejoaquim on July 15, 2021, 05:30:07 PM

I already give my private key into my sister. Just in case, if something bad happen to me then she can still access my wallet. My sister is investing in cryptocurrency too, so we both know about the private key.

That was a good decision to make, because we don't know what the future holds for us. Another thing important is giving your private keys to a well trusted person, someone who understands Cryptocurrencies and how it works. I think is important we tell our family members the details of our Wallet(s), so, our coins won't be gone forever, if something bad happens. Because, is impossible for someone to have access to your wallet without the private keys.

Indeed a good decision, whatever happen to you the assets that you have will continue to exist.

We have to deal with realities that no one knows how long we will continue to live, death is just there awaiting and in any moment it
will come and take us with it, moving back to the topic, without those private keys and knowledge to the person who you entrust the
information, those coins will be unuseful and no one will able to use it anymore.

There is one big problem with giving your private keys to seemingly trusted people: imagine you get hacked and that hacker moves the coins, how are you going to go about it with your sister (in this case sister)? It will always have a bad taste if someone holds your private keys, the coins get moved and you actually got hacked. That's why we definitely need a blockchain based custodian system with time locks.

Pamadar

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Quote from: blackened515 on July 20, 2021, 06:12:31 PM

Quote from: Amejoaquim on July 15, 2021, 05:30:07 PM

I already give my private key into my sister. Just in case, if something bad happen to me then she can still access my wallet. My sister is investing in cryptocurrency too, so we both know about the private key.

That was a good decision to make, because we don't know what the future holds for us. Another thing important is giving your private keys to a well trusted person, someone who understands Cryptocurrencies and how it works. I think is important we tell our family members the details of our Wallet(s), so, our coins won't be gone forever, if something bad happens. Because, is impossible for someone to have access to your wallet without the private keys.

Indeed a good decision, whatever happen to you the assets that you have will continue to exist.

We have to deal with realities that no one knows how long we will continue to live, death is just there awaiting and in any moment it
will come and take us with it, moving back to the topic, without those private keys and knowledge to the person who you entrust the
information, those coins will be unuseful and no one will able to use it anymore.

Connor Britton

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If I did not tell my family my love of my passwords, if I die, my coins will be lost. The money I invested is equivalent to doing charity, but I have already told me my password My family, because they are also crypto enthusiasts, I have invested a lot of money in the crypto market and I don’t want to lose them, and my money is reserved for my children. After all, people can’t take money with them when they die.

the rise

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I don't think I'm bequeathing it to my family, but I'm also not putting all my assets in cryptocurrency, and I'm still putting fiat first in this, that's so it's not hard for me not to, for my son and wife to receive an inheritance.

blackened515

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Quote from: Amejoaquim on July 15, 2021, 05:30:07 PM

I already give my private key into my sister. Just in case, if something bad happen to me then she can still access my wallet. My sister is investing in cryptocurrency too, so we both know about the private key.

That was a good decision to make, because we don't know what the future holds for us. Another thing important is giving your private keys to a well trusted person, someone who understands Cryptocurrencies and how it works. I think is important we tell our family members the details of our Wallet(s), so, our coins won't be gone forever, if something bad happens. Because, is impossible for someone to have access to your wallet without the private keys.

temple

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I'm going to withdraw all my assets, when my son, wife, or I are sick, I think having assets for too long is also not good, because whenever human creation is going extinct, we just need anything enough for us, not to be overdone, I've also heard a billionaire lose his assets in cryptocurrency before he bequeaths it to his family.

I don't think the real problem is if you get sick and you can still think and act. The real problem is if you die in a car accident and even got you desktop locked with a password and your family may know you got crypto, but they have no clue how anything works. Most likely they will never be able to access it without undergoing the risk to getting it stolen. They could ask specialists to hack the desktop password, but that specialist might also be able to steal private keys and delete files.

South Park

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Quote from: Amejoaquim on July 15, 2021, 05:30:07 PM

I already give my private key into my sister. Just in case, if something bad happen to me then she can still access my wallet. My sister is investing in cryptocurrency too, so we both know about the private key.

You do not really have an idea of how lucky you are, I have tried to get my family members to adopt bitcoin in the past and no one did, obviously they lament not doing so but now they think it is too expensive, so the fact that you can share your keys with your sister and that she can do the same with you gives you a lot of flexibility that many users do not have and instead we have to deal with complicated measures to try to give our coins to our family members but without them getting to those coins before it is the right time.

AicecreaME

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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

If you are not really comfortable telling your closest family member or friend your password to your cryptocurrency accounts, there's no way they can access it the moment you die. They'll be no other possible option if you'll just keep your password to yourself. I understand the people who do not tell their passwords to anyone. It's just really a matter of keeping your funds, assets, and portfolios safe from unwanted withdrawal and theft. Because we can't really tell who's the trustworthy one unless we try it ourselves. Although, a lot of people don't want to risk trying it given the large chance of regretting later on.

If you are very uncomfortable with telling your passwords outright, you can try making some sort of riddle that your loved ones can solve if ever your unprecedented death happens. You can also write a last will and testament that has all the lists of your assets and the password for it with the instructions on when and whom to give it. Then, entrust it with a lawyer or put it in a safety vault.

amihada

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Quote from: suryana on July 16, 2021, 02:36:11 AM

there is no solution for people who don't want to share the keys to their heirs.. From now on you must have someone you can trust to share the keys, or maybe your heirs. So that later it can be useful and useful.

It's true that so that the coins we collect in the wallet don't disappear, there must be someone in the family that we can share the keys with. why do we collect a lot of assets but when we die it doesn't become an inheritance to the family, especially if we have children, they can't enjoy the results of our hard work.

suryana

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there is no solution for people who don't want to share the keys to their heirs.. From now on you must have someone you can trust to share the keys, or maybe your heirs. So that later it can be useful and useful.

Chato1977

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Quote from: randegibran on July 16, 2021, 12:27:31 AM

after our death of course we can no longer access.it into our account again unless.we give it to the people.closest to us.to give the password to someone we can fully trust to manage our account. because the account will exist completely because the account it is our own property that is legally.ours and cannot.be accessed.by.others

So the thing is we must be ready about all of this and as long as we are alive we must let the people we trust to have copy or idea from what we are having.
because all our effort will come into nothing once we died without them knowing where our funds and how to handle taking them out or at least continue holding it.

randegibran

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after our death of course we can no longer access.it into our account again unless.we give it to the people.closest to us.to give the password to someone we can fully trust to manage our account. because the account will exist completely because the account it is our own property that is legally.ours and cannot.be accessed.by.others

NicNacCoin

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Quote from: Amejoaquim on July 15, 2021, 05:30:07 PM

I already give my private key into my sister. Just in case, if something bad happen to me then she can still access my wallet. My sister is investing in cryptocurrency too, so we both know about the private key.

You choose great man decisions because none can know what's would be happened in future. I already wrote my all private keys and password/ phases In my personal notebook which already handled to my younger brother who a good understanding person in cryptocurrencies.

dunfida

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Quote from: Amejoaquim on July 15, 2021, 05:30:07 PM

I already give my private key into my sister. Just in case, if something bad happen to me then she can still access my wallet. My sister is investing in cryptocurrency too, so we both know about the private key.

I wish i had a sister like this on where both is really knowledgeable about crypto but since im already a family guy then theres no other whom i can trust but only my wife
but why i cant really just trust up that much? Im just still hesitating on sharing up everything about on how much i do hold or maybe im just afraid
that she might cash out those money and buy something on it. Cheesy

Well, if you do trust up your wife then you would definitely be sharing it but if not then its better not to tell at all but of course once you die then those coins will be
lost forever or wouldnt be inherited which would be a waste.

DatKing

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As far as I know, all of your coins are gone forever if you die and didn't share the info of your wallet(s) with anyone. Because there's no other way to recover this information about wallets. It's logic is similar to the transactions we make. For example, if we send our coins to a wrong address, then they will be gone forever also.

Amejoaquim

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I already give my private key into my sister. Just in case, if something bad happen to me then she can still access my wallet. My sister is investing in cryptocurrency too, so we both know about the private key.

DPrillio

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Quote from: Mr.sprin on July 12, 2021, 11:14:45 AM

Quote from: Nora Olin on July 12, 2021, 02:54:49 AM

If your tokens are stored in your wallet, perhaps your closest person will not know your key. When a person dies, there is a high probability that the tokens in the wallet will disappear forever, which is equivalent to being destroyed， So that the price of the currency can be increased even higher, but if you tell the closest people the key, they may sell a large amount of bitcoin after you die, which violates the consensus and characteristics of long-term bitcoin holding.

it's true that if the key is not known by others and we die, all the tokens we save can be lost or like being burned, it would be nice if we gave the key to our own family so that the results we work can be enjoyed by them.

Another aspect of blockchain technology is that every holdings and transaction is only between you and the system and if someday the holders die and gone away no family members can inherit and our assets and holding will remain forever untoched in blockchain as there is no central control for this. The best thing to do if we have assets in crypto is to educate our closest how to use and gave them everything access for them to use.

South Park

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Quote from: Mr.sprin on July 12, 2021, 02:18:18 AM

I haven't been honest with my family about crypto. I have assets in crypto and my family doesn't know about it. It's not that I don't trust them, but that I don't feel ready to be honest with them. but i wonder if i will live till tomorrow? I will tell them as soon as possible that I have assets here so that if I die, the fruits of my labor so far can be enjoyed by my wife and children in the future.

This is not as uncommon as you may think, years ago the bias against bitcoin was still very strong so people decided to not tell their family members they had some coins, now just a few years later the negative attitude against bitcoin is going down a little bit so maybe this is the perfect opportunity to tell your family members that you have some bitcoin and give them a chance to recover your coins in the case something happened to you, however I will not recommend telling people how much you actually have as most people do not know how to remain silent and this could come to haunt you in the future if the wrong people learn about this information.

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