Topic: What happens with my crypto when I die? - page 33. (Read 3042 times)
Well it becomes part of the abyss
We need to figure out how to protect this information from strangers and how to pass it on to our relatives in the event that something very bad happens to you ... The main thing is that this information does not fall into bad hands ...
Yeah its really an issue, because if there is place for a next of kin, you have to look for a person who is also in the cryptocurency business to know how to go about it. Its wonderful that somebody has pointed it out, i hope something will be done about it.
In case of death, you will not care what is with your coins.
Personally, I have 3 local private copies of private keys on different flash drives, but without specifying the numbers of purses.
One - at home, the second - at work in the safe, the third - always with me.
So in any case, there is always an opportunity to access the keys.
Personally, I have 3 local private copies of private keys on different flash drives, but without specifying the numbers of purses.
One - at home, the second - at work in the safe, the third - always with me.
So in any case, there is always an opportunity to access the keys.
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 have never actually thought of this. Since all your valuable should be in a will, you should consider adding all your crypto details to one. While you are alive do backups in various cloud locations. Ultimately, i expect a heritage system in the nearest future.... A system with a next of kin. Your bring your coins with you if you do not leave your private keys to some one open or in question mode how mosaic
It could be vanish if I will not make a testament of will for my heirs and leave my private to them
Your bring your coins with you if you do not leave your private keys to some one open or in question mode how mosaic
It will disappear if I will not give to somebody my private key.
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.
A good question that does not know how to do! Not a bank account, no one has a private key, so Altcoin will follow you forever! I believe so, unless you give someone another password to keep the private key after you die. 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 that you need to make your list of information about all the values that you have. These are personal cryptotices, access to all exchanges for scripts, all bank accounts, access to all untwisted social channels like YouTube and bitcointalk.org, and much more that can be of value or generate revenue.
To replace my position if I can no longer be with Bitcoin it is definitely my family who will replace my position. I will leave all my income from Bitcoin for my family, which I will teach first so that my family can understand and also understand all the procedures, the system and all the programs from Bitcoin.
It will be the best investment long-term. haha
You can share your password with your family.
With the massive amounts of BTC coins that has been lost through death or just dummies just not seeing that BTC would be worth something one day, are there no plans for a contingency method of retrieving people's coins and maybe dispersing them within the BTC community?
You can tell the people closest to you about the currency of encryption due to the encryption currency as the corresponding privacy key, if you suddenly die then your assets will not be finished. 
Bitcoin is a function of generation to generation, and like wise in the bank system, where their is next of king option, and we'll stated to your right brother or sister, even your children as the case may be, the same application here on crypto, you need to teach your trust son or daughter, even your brother's that is interesting of online digital money, and among them, you can choose one and show him your diary record, where private key are saved.
The hardest part of crypto currency is listing of pin and crypto wallet information. I will advice people to at least share their secret pin with their wife or child to avoid a big mistake when someone dies , so that your crypto currency will not be a wast to your family when you die
I think the best way is to have your keys secured by keeping it safe and having many copies which of course, you will keep. If you have much coins in your wallet, maybe you have to make a will that states about to whom and how much share your family can get so that in case of death, it will be put into legal ways and not putting your hard earned coins to nothing.
nice topic; at least right now there are a lot of transaction who were lost maybe either for a basic error like wrong typing an adress of a wallet. Is really hard to find a decentralized solution for solve these problems, but i'm pretty sure there are some dev who works on it
Perhaps this question is good, but if we are afraid of death, no one will enjoy our altcoin, we should show our wife and children how to trade altcoin, how to withdraw cash. That is the best way you will rest assured. dont worry.I think the banks and law firms can come together to form a unit where matters of financial confidentiality could be discussed and kept, because if there was such in existence you can instruct them to cash whatever you have saved be it in bitcoin, a house you've hid from family or any valuable item and then give the cash to the family or the person you want outside your main will.
If you have saved the information of your investment and wallet, your family members can withdraw that money. But if you do not have some information then that money will get lost.
If no one else knows all the passwords and privatekey your bitcoin or coin storage then it will be useless. There will be no one like family or anyone who can have your coins after you die.
nice topic; at least right now there are a lot of transaction who were lost maybe either for a basic error like wrong typing an adress of a wallet. Is really hard to find a decentralized solution for solve these problems, but i'm pretty sure there are some dev who works on it
Perhaps this question is good, but if we are afraid of death, no one will enjoy our altcoin, we should show our wife and children how to trade altcoin, how to withdraw cash. That is the best way you will rest assured. dont worry.Jump to: