What happens to your Bitcoin should you suddenly die?

pawel7777

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Quote from: Wendigo on January 28, 2015, 04:15:06 AM

Quote from: ?? on ??

Quote from: Wendigo on January 28, 2015, 02:35:49 AM

Quote from: ?? on ??

I have an email on shedule for sending if I stay inactive for several months (aka dead), the email contains details like location and keys for a pendrive wallet, the pendrive is useless without the email and so is the email without the pendrive, I have yet to find a better way.

What if your email gets compromised and they steal your drive and bitcoins on it?

I see one of the two happening, but the two by the same agent is very unlikely, any way I rather 'risk' 50% of my holdings than just die and take everything with me, I dont really think much about it, I'm still in my 20s.

Isn't it better to include the flashdrive with your will when you are becoming old and not feeling very well any more?

If you're old or not well and you're on the stage when you starting to think what happens after you die, then there's plenty of actions you can take. But this thread is more about the solutions that prevent losing BTC in case of sudden, unexpected death.

Wendigo

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Quote from: ?? on ??

Quote from: Wendigo on January 28, 2015, 02:35:49 AM

Quote from: ?? on ??

I have an email on shedule for sending if I stay inactive for several months (aka dead), the email contains details like location and keys for a pendrive wallet, the pendrive is useless without the email and so is the email without the pendrive, I have yet to find a better way.

What if your email gets compromised and they steal your drive and bitcoins on it?

I see one of the two happening, but the two by the same agent is very unlikely, any way I rather 'risk' 50% of my holdings than just die and take everything with me, I dont really think much about it, I'm still in my 20s.

Isn't it better to include the flashdrive with your will when you are becoming old and not feeling very well any more?

Daniel91

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Activity: 3374

Merit: 1824

I think nothing

Nobody can use it, sell or cash out without your login/access info.
any way, it's always smart move to share your important info with someone you trust, your partner, family member etc. so that they can inherit your funds if something happen to you.

avw1982

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There would happen nothing. Shocked

Never thought about it. I don't have that much but it's something the think about.

sirslayer

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chickens and cryptos

i would keep a copy of it on a flash drive and have an attorney (with a 10 percent cut if he/she would take bitcoins or other assets ) handle it to who ever you want to pass it to. make sure its worth it.. if not would it just get lost and would it ever be used?? can it be reprinted (mined) again if not used after a while??

CoinCidental

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Si vis pacem, para bellum

what if the email gets eaten by spam filter and recipient never recieves it
all is left is a useless pendrive ......you need something better to guarantee reliability

Wendigo

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Quote from: ?? on ??

I have an email on shedule for sending if I stay inactive for several months (aka dead), the email contains details like location and keys for a pendrive wallet, the pendrive is useless without the email and so is the email without the pendrive, I have yet to find a better way.

What if your email gets compromised and they steal your drive and bitcoins on it?

Nerazzura

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Activity: 378

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assume that bad-misfortunes bitcoin is really dead at all.

People want a replacement Bitcoin. We can not close our eyes as well. There are thousands of altcoim, ready to replace bitcoin anytime.

One falls and a thousand spring up.

Where is worried?

You still invest too, right ??

If you are someone who is in awe of the implementation .cryptocoin plus love to see opportunities. This is certainly such a de ja vu, provided you already have experience of the failure of bitcoin.

Furio

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Good thread, same as inlog codes for all sorts of sites, am going to sit down with my wife sometime and explain everything Grin

TrailingComet

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I have made special provisions for my private keys to be given to my next of kin

stellar1

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Quote from: turvarya on January 26, 2015, 12:05:26 PM

Quote from: stellar1 on January 26, 2015, 11:31:14 AM

Will a paper wallet kept alongside the family gold (so only the next of kin sees it) solve this problem ?

Not if somebody steals your gold(and your paper wallet) Wink

I guess we keep our family gold in a bank locker; maybe the bigger guys keep it in trustworthy vaults. Point is whoever receives your family gold gets the bitcoins too. And most (if not all) of the time the family gold passes into deserving hands.

CoinCidental

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Si vis pacem, para bellum

Quote from: JBits on January 26, 2015, 05:26:53 PM

I use Nxt, and my Nxt priv. key is on the desk next to me.
A solution to this problem that is safer than my piece of paper is Multisig; you could require both your family, a lawyer, etc. to approve a transaction in order to get have the support them.

the family would have to be educated about what bitcoin is first in case either the lawyer dies or he scams the bitcoins which maybe worth several million doillars in say ,a decade from now .........

you need to make your family aware of btc,wallets and passphrases imo b4 its too late

a paper copy and instructions in a sealed envelope in a sd box wouldnt hurt either in case they forget or lose any part of the info required to "spend" the btc ........

franckuestein

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Activity: 1960

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Truth will out!

Quote from: countryfree on January 26, 2015, 06:42:54 PM

Let's put it simply. I haven't planned anything yet. My BTC would be definitely lost if I die tonight.

lol. haha
Could be an option but in my case I think that you can put it into your will at a notary as someone said or give all the information/pass to use it to family.

I'm going to thing about it, dunno what to do Cheesy

countryfree

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Your country may be your worst enemy

Let's put it simply. I haven't planned anything yet. My BTC would be definitely lost if I die tonight.

Reynaldo

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I was thinking about this with afriend quite some time ago. It would work like this: Each week/month/X period of time, you would have to do something "proof-of-alive" like answer and automated message and such, if not, then some saved information will be sent to anyone that you wanted to know that stuff.

abstream

member

Activity: 81

Merit: 10

With NXT you have a single passphrase(brainwallet) as a login right?
You would actually have to split the passphrase and give the different parts to the family and the layer

Quote from: JBits on January 26, 2015, 05:26:53 PM

I use Nxt, and my Nxt priv. key is on the desk next to me.
A solution to this problem that is safer than my piece of paper is Multisig; you could require both your family, a lawyer, etc. to approve a transaction in order to get have the support them.

JBits

newbie

Activity: 8

Merit: 0

I use Nxt, and my Nxt priv. key is on the desk next to me.
A solution to this problem that is safer than my piece of paper is Multisig; you could require both your family, a lawyer, etc. to approve a transaction in order to get have the support them.

abstream

member

Activity: 81

Merit: 10

dead man switch has also been discussed - it would be activated if there is no activity(outgoing transactions?) for some amount of time...

Quote from: turvarya on December 15, 2014, 04:34:55 AM

Just remember:
You could easily be hit by a truck today: No time to tell anybody about your secret stash of Bitcoin stamped on a piece of metal buried in your garden. No time to tell anybody the password to your bip38-encrypted paper wallet.

Where it is nice, that your Bitcoin are safe from the government and banks, it would be really sad, should you suddenly die and the Bitcoin are just lost, instead of supporting your own children.

So, I am less interested in theoretical ways to solve that problem, but more if somebody here actually did something to solve it.

HCLivess

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=== NODE IS OK! ==

Print it and put it in a safe. They will excavate it on your death by means of brutal physical power.

bornil267645

sr. member

Activity: 406

Merit: 250

AltoCenter.com

It's simple, give your all info about bitcoin to any of your family member or partner you trust most.And the better is write a note all of the process of bitcoin and keep it in a secure place.

Topic: What happens to your Bitcoin should you suddenly die? (Read 3550 times)