Topic: What happens with my crypto when I die? - page 24. (Read 3042 times)
Once you died you won't be back anymore it will be forever journey to another life dimension. Better to let your family know your private key and the transan in order to secure just in case your hard work shall not end up to nothing.
You need to have at least one of your family members to know about what you have and those passwords that you are keeping, if you are married, better that you and your partner are sharing those things, be honest with each other when it come to this since we don't know what will happen to us.
Yes it's better to tell it to your partner so what ever will happen to you, atleast they know how to get your coin, infact giving your private key in your love one is part of being partner.
You need to have at least one of your family members to know about what you have and those passwords that you are keeping, if you are married, better that you and your partner are sharing those things, be honest with each other when it come to this since we don't know what will happen to us.
Yep, that is an interesting question. Basically, it is hard to be safe with anything in this world but you can reduce risks to a minimum by setting up backups for your data. This way you will have a constant access to your data and keep yourself safe.
Make a Will now to secure your crypto investments, select a person closest to your heart, who will be your beneficiary. You state in your Will the important things to access to your account like wallet address, key and password or keep the copy of it in your vault and give the access only to your beneficiary. For house burn down along with hard wallet, my advise is keep a copy of your wallet address and key in another safe place.
No need to think too hard, just keep the Private key in some places and if you die, give access to your heir to take the private key,,.
Crypto can be a treasure forever because no one can get into your wallet and take your crypto.If you do not tell anyone about the password you have.You should tell your walet password to your family or person that can be trusted.If you die then it means you cannot access it anymore so that is how bitcoins also work.
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?
Will its depend on how you manage your wallet. Because if you back up it a store at a safe place it will be good if you tell your wife or husband on it. Because we dont know about the future so it will be good if we are ready
as long you don't give your private key to your family and other people I think your wallet can't be opened forever because as we know private key is the one key to open and access your bitcoin, also its a key to make a transaction from that wallet, so if there are no private key its mean that your bitcoin will be stuck in there forever
Maybe this situation can provide a new business opportunity to make a website for crypto inheritance.
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 should save all important data in several USB which includes your bitcoin username and password, your wallet pin keys and other necessary information. Put it in different places and the other will be given to your closest family member. So if the house burn you still have back-up and if in case of death someone can retrieve it.
If I can no longer use crypto then I will inherit all my crypto just for my family, (my son), as the successor to continue my crypto growing and developing. And to anticipate all that, I have to teach my kids from now on to know all about crypto.
There are such things that hard to understand and couldn't be back again once it will pass or lose it won't be back again and never be back forever. Certain in uncertain things is questionable and hard to grasp when the scenario of questions and struggles is in season.
If your holding many kinds of cryptocurrency and it's worth millions of assets you need to have a safety box that all the private keys are there and you will inform your family about that for in any cases you will be gone they can inherent your crypto assets. But if no one knows your private keys your family members will not enjoy your assets as they can't access your funds. Think for the future as we are only temporary in this world.
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.
No one will benefit all of your crypto in your wallets. Unless theres someone who knows you passwords and all accounts so that there will be benefit on them when you die. So it is better to tell to you family members or one of them so that it will not be wasted. 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.
maybe there's nothing to do and if some years have passed the price of your hold is great, but it's best to put all your wallet info just as soon as your family finds it or you can tell them if you go procedure how to make money for not being able to work
If you die and you didnt let any one close to you know the key then you will die together with your bitcoin..others say you cant bring your money to grave but its wrong.. in btc you can die together with your bitcoin because those btc will die with you..no one can take it. So its up to you if you want with your btc on your grave or share your key to the one you trust and love. 
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.
Thanks i am reminded with your post. 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.
* death... - The best solution is to print and laminate pass phrase and keys then back it up in a secure place you can buy a vault then put it there, put some detailed instruction on how to access and trade your tokens and how will they transfer to their accounts and get their fiat, this is the most time consuming but it will be worth it if there will be an emergency that happens.
* house burns down along with hard wallet - buying vault that has fire proof is the solution for this incidents. there is also storage on banks that you can use but you will pay it of course
* one can accidently loose his cold storage or hard wallet - even if you lost your hard wallet if you have your pass phrase you can retrieve it means your wallet is not on your physical cold storage but in blockchain.
In crypto, you are the master and absolute owner over all your earnings. In the event of death, you can keep a database to your login details on backup and keep it safe somewhere which you will indicate in your will for the successor to locate. In the event of house burn, you must always have a back up away from your house, perhaps keep it in your workplace (a locker accessible to only you).
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.
I think you already understand and understand crypto access and how to use it and surely you already have a solution to the problem it is storing with privacy and you must already have a backup place so your heirs can use bitcoin if you are dead 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.
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