Topic: What happens with my crypto when I die? - page 10. (Read 2979 times)
Before that happens i will save all of the important information i have and save everything on a notepad where i can inherit all of the things i have saved from all of my work , from profit to income and all of the information like logins and password . I will give it to my wife and to my son . so for now i must teach them how crypto worked for me. Everything must be planned
Silly question right? 
Unless there is a backup method or heritage system it obviously vanishes for eternity, but the point was to discover methods that you are aware for avoiding such risks.
Well, it's not a risk, it's a certainty, but there are other risks of losing access to the crypto account aswell.
Some like:
* death... obviously
* house burns down along with hard wallet
* one can accidently loose his cold storage or hard wallet
* maybe other you figure out and I add them
So, what storage do you use to ensure your savings, or what do you think would be the best solution to overcome these risks?
UPDATE: I started this discusion because I can't see a decentralized solution for that, most of the centralized ones are largely known (wills at layers, online wallets and so on) but do not meet the security criteria as still imply a trusted party. Better simply handover the private key directly to the inheritant IMO.
What I want to determine is if it IS realy a concern for the comunity or not, and if yes than we can contribute all together to the creation of a such product. But again I realy do think it should be built decentralized and trustless.
Your cryptocurrencies are still in the internet but it depends on you if you have person that will inherit your bitcoin like someone that you really trust so if you did that then your bitcoins will not just die and it will continue its life from a new bitcoin user which is the person that you trusted to inherit your bitcoin. Unless there is a backup method or heritage system it obviously vanishes for eternity, but the point was to discover methods that you are aware for avoiding such risks.
Well, it's not a risk, it's a certainty, but there are other risks of losing access to the crypto account aswell.
Some like:
* death... obviously
* house burns down along with hard wallet
* one can accidently loose his cold storage or hard wallet
* maybe other you figure out and I add them
So, what storage do you use to ensure your savings, or what do you think would be the best solution to overcome these risks?
UPDATE: I started this discusion because I can't see a decentralized solution for that, most of the centralized ones are largely known (wills at layers, online wallets and so on) but do not meet the security criteria as still imply a trusted party. Better simply handover the private key directly to the inheritant IMO.
What I want to determine is if it IS realy a concern for the comunity or not, and if yes than we can contribute all together to the creation of a such product. But again I realy do think it should be built decentralized and trustless.
Your crypto too die with you unless you gave your private key to any of your family and friends.. But don't think anyone will want to do that...
Silly question right?
Unless there is a backup method or heritage system it obviously vanishes for eternity, but the point was to discover methods that you are aware for avoiding such risks.
Well, it's not a risk, it's a certainty, but there are other risks of losing access to the crypto account aswell.
Some like:
* death... obviously
* house burns down along with hard wallet
* one can accidently loose his cold storage or hard wallet
* maybe other you figure out and I add them
So, what storage do you use to ensure your savings, or what do you think would be the best solution to overcome these risks?
UPDATE: I started this discusion because I can't see a decentralized solution for that, most of the centralized ones are largely known (wills at layers, online wallets and so on) but do not meet the security criteria as still imply a trusted party. Better simply handover the private key directly to the inheritant IMO.
What I want to determine is if it IS realy a concern for the comunity or not, and if yes than we can contribute all together to the creation of a such product. But again I realy do think it should be built decentralized and trustless.
Your cryptocurrencies are still in the internet but it depends on you if you have person that will inherit your bitcoin like someone that you really trust so if you did that then your bitcoins will not just die and it will continue its life from a new bitcoin user which is the person that you trusted to inherit your bitcoin. Unless there is a backup method or heritage system it obviously vanishes for eternity, but the point was to discover methods that you are aware for avoiding such risks.
Well, it's not a risk, it's a certainty, but there are other risks of losing access to the crypto account aswell.
Some like:
* death... obviously
* house burns down along with hard wallet
* one can accidently loose his cold storage or hard wallet
* maybe other you figure out and I add them
So, what storage do you use to ensure your savings, or what do you think would be the best solution to overcome these risks?
UPDATE: I started this discusion because I can't see a decentralized solution for that, most of the centralized ones are largely known (wills at layers, online wallets and so on) but do not meet the security criteria as still imply a trusted party. Better simply handover the private key directly to the inheritant IMO.
What I want to determine is if it IS realy a concern for the comunity or not, and if yes than we can contribute all together to the creation of a such product. But again I realy do think it should be built decentralized and trustless.
This is one of the most important thing i thought about when i first invested in crypto.. I made 3 backup. Which are in my 3 different bank lockers.. and one backup of those backup to my mom's safe.. I also made will for my crypto this February. Because I don't want my coin lost forever in blockchain after my death
Silly question right?
Unless there is a backup method or heritage system it obviously vanishes for eternity, but the point was to discover methods that you are aware for avoiding such risks.
Well, it's not a risk, it's a certainty, but there are other risks of losing access to the crypto account aswell.
Some like:
* death... obviously
* house burns down along with hard wallet
* one can accidently loose his cold storage or hard wallet
* maybe other you figure out and I add them
So, what storage do you use to ensure your savings, or what do you think would be the best solution to overcome these risks?
UPDATE: I started this discusion because I can't see a decentralized solution for that, most of the centralized ones are largely known (wills at layers, online wallets and so on) but do not meet the security criteria as still imply a trusted party. Better simply handover the private key directly to the inheritant IMO.
What I want to determine is if it IS realy a concern for the comunity or not, and if yes than we can contribute all together to the creation of a such product. But again I realy do think it should be built decentralized and trustless.
Unless there is a backup method or heritage system it obviously vanishes for eternity, but the point was to discover methods that you are aware for avoiding such risks.
Well, it's not a risk, it's a certainty, but there are other risks of losing access to the crypto account aswell.
Some like:
* death... obviously
* house burns down along with hard wallet
* one can accidently loose his cold storage or hard wallet
* maybe other you figure out and I add them
So, what storage do you use to ensure your savings, or what do you think would be the best solution to overcome these risks?
UPDATE: I started this discusion because I can't see a decentralized solution for that, most of the centralized ones are largely known (wills at layers, online wallets and so on) but do not meet the security criteria as still imply a trusted party. Better simply handover the private key directly to the inheritant IMO.
What I want to determine is if it IS realy a concern for the comunity or not, and if yes than we can contribute all together to the creation of a such product. But again I realy do think it should be built decentralized and trustless.
It will stock forever In you digital wallet, once you don't let know even one member of your families and you you have nothing to do about that, once you will suddnely die.
I ask this too for myself. However, I think you can plan your own method. Like making a last will of testament where you give your love ones a piece of the paper where there are separate parts of the private key. In regards with the Nano Ledger I think if you lost it you can still retreive it as long as you have the private key.
There will be no problem by then as long as there is someone whom you trust in your family that knows your accounts and passwords. educate them before you die, let them know what you are doing so that they will know how to operate it as well. Teach them and let them involve in your business or investment. so you will now worry on things by then.
.i encourage everyone to use this simple step in securing your password or private key..do a metal carving or inscribe your pertinent information on some metal stuffs that is not visible to the public..just encase there is a fire broken out,,then it will not easily burn..i think this will last for a years even if you will going to be gone away in this world..simple say even if when you die..you can still pass your crypto to your future generation..
I think, if we die then the crypto currency we have will remain where we save and if no one knows the password or have access to the wallet then the crypto currency that we have will be a treasure and no one can take it, so we'd better tell the password to the family or people we trust
Because you are your own bank then you have to put in a provision that in the event of any of the above ,then you have a way to recover your funds.
Death - if is a significant amount then you can always make a back up with a will and a solicitor will execute your wishes .
Fire - keep a back up some other place than your house
Loss - again you can make backups
Yes you are correct sir. Bitcoin is like you are your own bank so if something happens to you there is no way to retrieve it. I believe sharing your informations and details to your family is important so if something happens to you then they will benefit for your bitcoins. Death - if is a significant amount then you can always make a back up with a will and a solicitor will execute your wishes .
Fire - keep a back up some other place than your house
Loss - again you can make backups
I think your cryptocurrencies will be frosted but the value will still increase depending on what you are holding. Sharing details and information of your holdings to someone you trust is mich ideal than keep it to yourself. Who knows the next day you will be gone and your holdings will be stagnant and no one gonna benefit from it.
If you have shared the details of your crypto investment with a family member, there is nothing to worry. I have shared it with my sister.
Maybe your crypto will be there forever, inside your wallet untouch. This will resulting deflation because coin in the circulation will reduce if you have a great amount of it. Maybe you can backup your wallet key in the safe place, and someone you trust know about it.
The best way I know is to explain family members about Bitcoin and giving them a basic idea of what Bitcoin is all about and how Bitcoin transaction works. If you have high amount of Bitcoins then you can prepare a legal will and distribute your Bitcoins to your family members in a legal way to avoid any disputes. Maintaining multiple backup copies is always recommended.
I agree with you. With that kind of situation it is the family who has the right know regarding you crypto savings. If you have a last will and testament you can inlclude that in your will in sealed envelop and address it to the person whom you want to take care of your crypto. If you are sick and you feel like you are dying might as well teach them every information they need to know regarding crypto and bitcoin. 
I advise taking care to transfer data to your next of kin, because if you do not, your crypto currency will remain in your wallet and no one can access it.
It's still be there! You should let somebody that you trusts has the wallet key and all related things!
It's your asset so treat it in any way you want
It's your asset so treat it in any way you want
For me i think i will just stay in your wallet or where you put it. But if your gonna give it, the good way is to give to a person who you can really trust or to your family.
I think all of us should backup our password to other people we trusted, otherwise we may lost our money if we suffer an accident, because private key is everything in crypto world
Yeah we need to back up our password because that is the very important thing we have in crypto ,keep it and give it to your family while you still young and free. So when the time comes that we gone our private key will get of our child and they can get your coin.
Its a good way to give your hardware wallet on your family so that they can keep your crypto
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