Topic: What happens with my crypto when I die? - page 32. (Read 3042 times)
It all depends on internet users in the world. If you have someone who will inherit your bitcoin like someone you really trust.
It is a very interesting question 
... The idea of blockchain technology and decentralization is one of the best ideas that have been created to solve the problems the centralization faced. But in terms of next of kin and death related issues, this system is lacking.. In case a holder of bitcoin wallet dies, i think his/her bitcoin will still be in the system but no one can assess it. Making his/her asset lost .
... The idea of blockchain technology and decentralization is one of the best ideas that have been created to solve the problems the centralization faced. But in terms of next of kin and death related issues, this system is lacking.. In case a holder of bitcoin wallet dies, i think his/her bitcoin will still be in the system but no one can assess it. Making his/her asset lost .
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.
Backup methods will need a lot of changes in the technology itself. This is a trustless system, which needs the intervention of the person holding bitcoins. No one else should be involved. So better to take precautions at owns end, probably make a process documentation for recovery and put it in your legal will 
Silly question, I agree. I think your son or whoever else can inherrit your wallet with all of the funds on it as well
I think the best solution is give your personal information to your wife or your mother.
Your crypto will live forever, or at least until the last miner turn off his computer.
you must think of it carefully and make a good plan for this accident.
Give the password of your wallet to someone whom you trust.
Your crypto will be save here even after the death of yours.
Choose someone who behalf of you take yous cryoto.
question that no one knows. I think it would still stay there even if the coins will die. And another thing is that BTC cannot die that easily.
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 investors are already considering and planning ahead of what happens if the owner of the investment dies later, maybe they've made some sort of lock code stored and told their trust person 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 you are the only person who know what you have and private keys, you better share with one of family member (spouse). Also you better to backup all information other than your computer in case you are not able to use your computer.
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.
we dont know maybe just for sure you should tell your account to your relatives so that you can inherit it to them so they cn use it in their future 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 may seem funny but it is very realistic. A friend of mine just lost all his devices to which he saved all information used to access his ether and bitcoin wallet. The solution should be to store it online, where you can always access it. That is one advantage of using crypto currencies: that you can always access your wallet wherever you go and with whatever device. As to the question of when you die, I believe you can always make provisions for the one to inherit your properties
If the holder of the crypto died, definitely the crypto will be joining your death. You are the only one who can access your crypto then no one can touch it id you die. But the thing will have a different result if you have someone that you entrusted your account or wallet.
You should make a will before hand with your wallet details so it can be accessed. Alternatively, keep a physical record of your account details and tell someone you trust where to find it if need be.
After you die, your calculations will die with you forever. Nobody can handle your password unless you know someone else or if someone does not find your password.
Maybe hackers break your cipher on the network and steal all your tokens.
What are you going to do after you die? Enjoy hell: D
Maybe hackers break your cipher on the network and steal all your tokens.
What are you going to do after you die? Enjoy hell: D
If you are die,your crypto die with you too. :
So, you can share with your close friend about your wallet,may be your familly member find your crypto.
So, you can share with your close friend about your wallet,may be your familly member find your crypto.
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