What happens with my crypto when I die? - page 36.

Valzzz005

full member

Activity: 434

Merit: 100

Quote from: Snipes19811 on March 07, 2018, 06:33:44 AM

Because you are your own bank then you have to put in a provision that in the event of any of the above ,then you have a way to recover your funds.
Death - if is a significant amount then you can always make a back up with a will and a solicitor will execute your wishes .
Fire - keep a back up some other place than your house
Loss - again you can make backups

That is true when you die nothing is gonna happen to your bitcoins it will stay the same just stock on your wallet and that will never be access my anyone if you did not tell anybody what is you passwords it is like an account in some technology if you die then it means you cannot access it anymore so that is how bitcoins also work. So my advice have a will and testament if you have a lot of bitcoins because that can be on your family if you die. And that is gonna help them instead of being forgotten

enwi

full member

Activity: 602

Merit: 101

if you die and you have lots of crypto then your crypto will be a treasure because no one can get into your wallet and take your crypto if you do not tell anyone about the password you have, so you should tell your walet password to your family or person that can be trusted

margarita_free

jr. member

Activity: 127

Merit: 3

Good community manager for your blockchain project

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.

Do you want to try hold your crypto for your child?

russaa8

member

Activity: 154

Merit: 12

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.

cunguks

full member

Activity: 854

Merit: 101

Polkadog - Multi-Chain Defi Meme

I think if I die soon, all the coins or tokens I have will be buried forever. I never told my family about wallet storage. Though death is a mystery, but I don't think I will die soon. So I haven't prepared if anything like this will happen. I am still young by the way. I haven't got a wife and child yet. To be honest, I don't intend to tell this kind of thing to my parents. They are really cool parents, maybe if i tell them they will donate it.

Coltpython

member

Activity: 700

Merit: 11

Its a very good question actually. I have thought of it myself. I'm not sure but I think there is a new cryptocurrency project whose aim is to tackle this problem of what happens to your assets after you die. Personally, I have written my private keys and kept it together in a fireproof safe with some of my personal belongings. If I die, there are instructions on how my siblings or other family members can make use of it. They'll be damn lucky bastards if I hustle so hard and die very quickly for them to enjoy the work of my crypto hustles.

RealMean55

newbie

Activity: 34

Merit: 0

Thats a choice you will have to make, you can decide to have a heir to whom you pass them to when you die, maybe write a will and tell them where to find your private account details when you die

MFY151

full member

Activity: 308

Merit: 100

Quote from: okour999 on March 07, 2018, 06:38:09 AM

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

Or make a last will and testament form to your trusted lawyer to be given to your love ones just in case accidents happen. It is like having an organ donor card in your wallet, it is not like you wish for it to happen you just don't want everything you have worked with to go to waste.

ekstremista

jr. member

Activity: 38

Merit: 2

That depends on where you wind up going. Heaven is where you can still use your bitcoin and transaction times are instantaneous. Hell is where they take only fiat.

princess22

newbie

Activity: 62

Merit: 0

If ever that happens to me,?i will never take it secretly i better tel my husband give him a copy of my secret or i may say private securities (wallets).,for the future also of my kids.

klavyemaus52

full member

Activity: 571

Merit: 113

They will die with you if you dont teach anyone like a real life u are dying and nothing come with you

otong

sr. member

Activity: 798

Merit: 251

Quote from: fargoway on May 11, 2018, 01:33:23 AM

Leave the access to someone you trust and no problems. Otherwise, why should you worry about something that will happen after you die?

worried because if we die and no one passes our crypto then all of that is wasted. you must give / inherit your crypto to the person you trust. but do not let you think you will die. because we have a decisive death. may we always be given health and long life by god.

Mr.Dick

member

Activity: 207

Merit: 20

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.

Use a tresor for your private keys always do backups and wirite sth down in tresor in case of death so somebody can take care about your private keys.

weeklyeth

newbie

Activity: 168

Merit: 0

As of now, as suggested by others, we have to have a backup, making a note or leaving some resource in a trusted third party member, like a friend or a relative, leaving them responsible for them. In addition, as bitcoin industry is still in a budding stage, as the industry develops, I believe, there will be services that can provided by many service providers for such instances.

AurumService

newbie

Activity: 182

Merit: 0

Strange thoughts. One can`t know for sure what will happen in the next few hours but people here start to predict their own death...Don`t panic. While you`re young and healthy go bitcoin and other cryptos if you`re interested and time will tell what will happen next...

fargoway

newbie

Activity: 164

Merit: 0

Leave the access to someone you trust and no problems. Otherwise, why should you worry about something that will happen after you die?

hakertajniak

member

Activity: 504

Merit: 10

YOUC | John McAfee Supports

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.

If you are using your hardwallet, be sure to write the seed of your wallet out of it to backup.
store it on a different safe place than your hardwallet. so if your wallet destroy, the backup seed not destroy and
you can recover your wallet.

Dingdong7

member

Activity: 138

Merit: 15

There is no way you can recover it unless you allow somebody to have access over your account. It might ne burn and will help to make price have greasy value. For every loss private there is a potential for growth. I suggest you to make a complete details of your accounts allowing closest family member to have access om it when you die.

zero714309

member

Activity: 749

Merit: 13

It's good from the beginning when we decided to enter into the world of crypto family also know what you're doing,when you're getting older try to approach your children and tell them about the world of crypto with a language that is understandable so when you bequeath your wallet they already understand and know how to wd or manage your wallet for trading in the exchanger but all will be so very difficult if you died suddenly because of all the people also do not know to the life what they live in the world

russaa8

member

Activity: 154

Merit: 12

You know that one of the versions, why the bitcoins creator has not used one of his bitkoynov, is his death.

Topic: What happens with my crypto when I die? - page 36. (Read 3042 times)