What happens with my crypto when I die? - page 27.

Lecam

sr. member

Activity: 700

Merit: 254

Quote from: runCRYPTOrun on March 07, 2018, 06:27:40 AM

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.

Always keep your back up wallets safe and your private key or any thing that could access your wallet in one place ,
For house burn down you could always save something before it gets totally burn out so you could at least save some important things in your hard drive or USB sticks .

tunapa

jr. member

Activity: 667

Merit: 1

This is really not a concern for the general community. Maybe we will see a new platform that will use the blockchain technology you secure our funds so our generations can have access to them after death. But I think cryptocurrency so far has dome well you ensure everyone takes care of their funds themselves in all realms. Keep your wallet details safe and pass it on to your family members or offspring so they can have access to it if death occurs anytime sooner or later.

zainhaider

newbie

Activity: 34

Merit: 0

When I see that bitcoins have not been affected for more than 5 years on purses, I have the idea that their owners died and did not give their personal keys. I think this is to reduce the supply on the market.

othab1

newbie

Activity: 26

Merit: 0

If there are no backup keys and nikto does not know the passwords from the purses where the crypto currency is stored then after death all the coins will remain in the network permanently and no one will be available

KuyaBreezy

member

Activity: 504

Merit: 10

ONe Social Network.

Well, one, when you die, there are high chances that your cryptocurrency will remain idle in your wallet forever, especially if you never shared with anyone your password and secret keys,this can however be prevented, you could write a will with instructions on who takes over your cryptocurrency when you die, this way you get to pass the ownership of the coins to the next generation. You therefore have the power to decide what will happen to your coins once you die

maxman190

full member

Activity: 350

Merit: 100

if your relatives know that you are investing in a crypto currency, take care in advance to give them access to your wallet, otherwise your crypt will simply sink into the abyss after your death.

Enijesiku Sulaimom

newbie

Activity: 196

Merit: 0

This is a great and fantastic question, if u die two this will happen to ur crypto
1. Your crypto lives till all turn to shitty
2. People that have access to ur secret key may turn ur crypto to solid cash and squander it.
But in the real sense, no matter how secrecy u re in keeping ur secret key make sure u av a succession plan so that all ur hard earn crypto will not turn to shitty and not squander by non related blood to u.

dificanovi

full member

Activity: 840

Merit: 105

Buzz App - Spin wheel, farm rewards

Quote from: runCRYPTOrun on March 07, 2018, 06:27:40 AM

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.

right now I also have not found a way in this forum for inheritance problems when we die or there is a fire and others that cause our bitcoin and altcoin to be lost.
I just have a way to manually save the private key in social media and store it on the phone, besides we also have to tell the wife and child about the wallet that we have, so in case of disaster then our bitcoin wallet remains safe.

joshua0502

newbie

Activity: 93

Merit: 0

i think when i die, my crypto will be gone just like popping of bubbles just easy like that. i would better to do something that my crypto will be remain here. just like asking for my someone in my family or relatives to continued what I've done here. i will keep my private account in crypto to someone that i really trust and i think he or she will use it in a right way.

endut15

full member

Activity: 551

Merit: 100

life and death that no one knows, so dead or alive we should be able to do something that is best for us when we are not in this world, for example bequeath this crypto to brother, adek or child when have children. so it's better, than waiting to die.

cherrymobile

full member

Activity: 350

Merit: 100

Quote from: runCRYPTOrun on March 07, 2018, 06:27:40 AM

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 crypto would probably lost forever when you dont have any back up plan incase you die. The problem with cryptocurrency is very fast, the world so I think it in this era of the future, tell you have to be one. The best for you have To say, and other information that they belong in your savings and other information

chelle5

full member

Activity: 238

Merit: 100

Do something now before it's too late, if you die and no body knows what you have in crypto your money will be gone, every access in crypto you have put it on a safe and be sure that they can find it.

mendra_2009

full member

Activity: 429

Merit: 100

Teach one of the families that you believe can be trusted about crypto and its use, if that is not possible then you must have friends who are like brothers you can trust and your friends are also active in the world of crypto.So I think you can choose whether a friend trusted you in the world of crypto or your trusted brother to help you if anything happens to you so that the crypto you have will be given to someone according to your wishes.

Findingnemo

hero member

Activity: 2366

Merit: 793

Bitcoin = Financial freedom

Quote from: odpadnik on June 06, 2018, 09:26:16 AM

Quote from: winterblues on June 05, 2018, 07:49:08 AM

Least of my problems after I die.

Made me laugh Grin

Thanks!

But, it may be a serious issue. I actually knew a guy (past tense) that had a bunch of cash in a bank, hidden away from his family... Took em like 15 years to find out, that he was hiding it.

So, if you have anybody you trust, make sure they can get a copy of your wallet after you visit the other end of the blockchain?

If you are die is nothing will be change with your crypto currencies 8 to remain same and change the value also increasing if you have any rights to access your wallet then they will be profitable with your investment in crypto currencies this is my thought.

supergorg27

member

Activity: 238

Merit: 10

Maybe before it happens, have someone of your family whom you be trusted and tell about all your crypto savings so that it can give benefits to your family.

berkcelik16

newbie

Activity: 78

Merit: 0

You should teach your wife and children how to withdraw these funds. On the other hand, it will go to bitcoin trash. This will decrease the circulating supply Cheesy

osmo

full member

Activity: 392

Merit: 100

it is necessary to think about it if we die, we can provide information about wallets and emails etc to our close people like family, so when we die crypto currancy that we can can we give to our family or our heir

mirror001

full member

Activity: 350

Merit: 100

Well i do not think of much about this question if you die nothing will happen to your crypto because it will be used by user family of your friends who are if sincere and they will give it o your family member to continue. But if not then they will be lost. SO I would suggest that you should loop someone in with you crypto business you are doing so if any thing happen to you they should continue your work.

Or they should atleast know waht you are doing.

Am I right guys?

mxyzptlkof6th

member

Activity: 294

Merit: 26

I think it will be given to your family or your wife. Or it can be hold. What happens when you die the tokens in the unfortunate event of death you could wroght down a will with instructions.

Crytptomeniac

newbie

Activity: 240

Merit: 0

That's a decision you will have to make when it comes to what happens to the coins in the unfortunate event of death You could wright down a will with instructions -on what happens to your cryptos or open a safety deposit Box whereyour will keep the passwords to your wallets and information on who to take them over, his deposit box will only be opened when you are gone, that way you get to pass your cryptos to the next of kin, or else they will lay idle i your wallet forever

Topic: What happens with my crypto when I die? - page 27. (Read 3042 times)