as far as only you know the key to your wallet your crypto cannot be open anymore, in any word, your crypto will die too
Well if your family knows how to open your wallet or when your family knows all of your info in your crypto i am sure that your crypto will be in good hands with your family and i know that your family will used your crypto for a good purposes. 
Topic: What happens with my crypto when I die? - page 14. (Read 3022 times)
In my own opinion, this depend on individual relationship between his/her nucleus and extended family in regards to information storage. It's not bad to leak out your password to your close family member either as a brother, sister, wife, husband, mother, father so that when death come one's cryptocurrencies can be save for family use. Just my own opinion mate.
I think there are many ways to keep things for future purpose, you should have someone so close to you that knows where you keep your things even if they don't know about crypto....So, you should share the password with at least one person.
The best thing to do is make sure that you put it in a safe place where you believe that your family may be able to access it when you eventually die. Else you would be investing for nothing at all. 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.
I think you have to centralize this to some sort of a cryptobank that insures your cryptocurrency in case of apparent death. This should be done to prevent losses in the system. Bitcoins are already small in supply, so why reduce it even further, right?
Or in the other hand you can use a successor for that, maybe one of your family members will be willing to continue your crypto career, giving this opportunity to your family to have a continues prosperous life, I think it is more practical on that way, also controlling what you have and gaining from it is two advantages of having a successor.
I think there are many ways to keep things for future purpose, you should have someone so close to you that knows where you keep your things even if they don't know about crypto....So, you should share the password with at least one person.
Your crypto will go to whoever you leave it to but if you do not leave it to anyone and no one else has the private keys to your wallet then your cryptos will be lost forever. It is good to list your cryptos along with your other assets to be left to a kin and the private keys, passwords and any other information associated with the account will be passed to them
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.
My suggestion here is to share your access in crypto, or passwords, private key to your family or special someone, because when you die your crypto coins, wallets will be nothing because no one knows what is the private key of your wallet and etc. That is my suggestion because mine my special someone knows all my private keys and passwords in crypto related.
I think your sons or daughters will be the one whos responsible of your cryptocurrencies. Or you can give your wallet password to someone who you trust like your wife, mother, father.
There are many ways to keep your bitcoins or other coins safe. I do not count the individual options here.
But the question is, how will my heirs benefit if I die?
I would deposit my wallet data or my private keys securely with a notary. I would mention the notary and the reason for filing in my will.
So my heirs can use the coins. The coins will not be put on ice forever.
But the question is, how will my heirs benefit if I die?
I would deposit my wallet data or my private keys securely with a notary. I would mention the notary and the reason for filing in my will.
So my heirs can use the coins. The coins will not be put on ice forever.
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.
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. 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.
i think a will well spared out with vital information about wallets details including private key with a trusted solicitor will address the case of death and for fire and losses of gadgets, a back up will be an alternative to recovering wallet infromation.
I usually stay here in try to read as much as i can including all posts from everyone. I think it really helps to improve your info about the crypto market. Now this topic is also one of that i liked to read most. Nice words.
For me, probably my bro will take my everything when i die, lol.
For me, probably my bro will take my everything when i die, lol.
You're very generous and futuristic. Stay blessed, touching words.
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.
If I was about to die tomorrow, I think I would go to the lawyer and give him the envelope with my private keys and all the things needed to have an access to my funds, and then I would officially leave that as heritage for my children.
When i die, My Crypto will handed to my family. I told my sister that all my assets in crypto is in this. I also create a guide how to open all of it. I also teach her about Cryptocurrencies so she can learn more about it.
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.
I think it will be forgotten because no one can open it if you you don't tell anyone. For me it's better to tell someone that is important to your life about your bitcoin so that if you die there's someone that will handle it.
Your cryptocurrencies are still in the internet.
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.
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.
I was actually working on taking down notes or keeping all of my records from data accounts , password and anything that is related to crypto so I can inherit my currencies to my children or my beloved family . I will give everything to the next generation which is my children who will continue my work and the opportunity to earn more from it
nothing will happens with your Crypto when you will die. just give the responsibility of your Crypto to a trusted person who will never break your trust. again you can give the responsibility of your all Bitcoin to your Dear son.
Just share your password and wallet details with a family person and you will be fine. They can then easily transfer your crypto after you die.
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