Topic: What happens with my crypto when I die? - page 38. (Read 3042 times)
You have to share your wallet to any of your family members or whom you trust before any thing happens to you to make use of Bitcoin. You should choose who is the right person to handle your wallet after you to spend for useful things what you left over.
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.
When you die you will not know anything about the market anymore, all your information will still be stored on the internet, but no one can take over, I think if there is no change in Crypto then your information will remain forever. 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.
It will be left with your online wallet. Bitcoins are stored in your bitcoin wallet and you are the one who knows how to access it, if you died, there will be no one knowing it unless you said it to other people. Your cypto will stay in your wallet and it will never be converted to cash by itself, it needs someone who will transact to convert it to cash. The best solution to it is when you know that you are dying inside, then immediately tell the person you really trust to convert your crypto into cash.
good as nothing if you don't tell someone important to you regarding the key to open your account, so before you die you must leave the password to your love ones so that they can inherit your crypto.
In terms of saving back ups of your wallet passwords and private keys and other more important information, it is always better to have several of them. And much better if you save them in separate places. As for my strategy, I am saving such important information in my house. I am leaving a flash drive containing these information in a safe place. At the same time when I leave the house I always see to it that I am also carrying another flash drive containing the same in my backpack. In terms of death, my brothers know where these data are saved so this does not bother me at all.
For such an unfortunate yet certain conditions, it's always good to tell some close one of house members about your passwords if you are really concerned about the crypto after you die. And for other tragedies, a backup should be there always.
Recently there are things like crypto-will, similar to a normal will as to who should have the access to your wallet after you. Plenty of options out there.
Recently there are things like crypto-will, similar to a normal will as to who should have the access to your wallet after you. Plenty of options out there.
Adjacent to making a will and taking care of it over to a layer, in my opinion,i believe it's the same as transfering each crypto to your child or little girl, in light of the fact that an attorney may get the entire data in the "will" yet imagine as though nothing happens. Keep in mind cryptos are decentralized ,and dealing with it to a legal counselor isn't the best answer particularly on account of death.
In the instances of flame, that is, amid your lifetime, I will recommend getting a reinforcement and keeping it some place however ,additionally recollect that fire can even now happen anyplace. The best is dealing with everything to your child or daughter,and these go about as a reinforcement notwithstanding when you have gone,or in case of flame, mishap or some other reasons at all.
If you dont share your accounts with one of your trusted family then your crypto will also die, no one can get your earnings. So i suggest dont own it, share it so that if you die, someone will get your earnings and they can use it for your burial 
or they can use it for the financial needs of your family.
or they can use it for the financial needs of your family.
If you die, your crypto still there but anybody can't steal that, it's like a money floating in the air they have value but useless.
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.
Ok we never think about dying but good question
You should create a crypto will @ https://www.digipulse.io/
https://www.digipulse.io/ is a crypto will but it is NOT fully decentralized, it relies on a server sending emails to your trusted parties and some form of online lawyers managing the transition of DIGITAL assets not only crypto. So mostly for digital asset (social accounts, cloud storage etc) transition, NOT crypto it could be worth it. In other cases no difference from lawyers, hopefully better UX.
https://safehaven.io/ is another such service, the only thing it does it frezez your funds in an account and divides the private key between your chosen heirs + their validator
)) very funny IMHO ) you give their validator the power to blackmail your heirs because without his part of the private key they cannot cooperate to unlock the money.All of the traditional lawyer/will proposals are obviously involving a HUMAN whom you dont know and who has the power to decide what to do with your will, so I would be cautious with the info you provide.
In case you still are choosing this path most rationally would be to pay the lawyer a small amount upfront and the larger amount upon the completion of his part of the deal (include a payment for him in the testament that can be done from your account only by your heirs).
Beside creating a will and handling it over to a layer, in my opinion,i think it's the same as transfering every crypto to your son or daughter, because a lawyer may get the whole information in the "will" but pretend as if nothing happens. Remember cryptos are decentralized ,and handling it to a lawyer is not the best answer especially in the case of death.
In the cases of fire, that is, during your lifetime, i will suggest getting a backup and keeping it somewhere but ,also remember that fire can still happen anywhere. The best is handling everything to your son or daughter,and these act as a backup even when you have gone,or in the event of fire, accident or any other reasons whatsoever.
In the cases of fire, that is, during your lifetime, i will suggest getting a backup and keeping it somewhere but ,also remember that fire can still happen anywhere. The best is handling everything to your son or daughter,and these act as a backup even when you have gone,or in the event of fire, accident or any other reasons whatsoever.
Every one has to die one day but if you have money then you can share the money value with your wife and you an also share with your mother father too and if these not then the insurance is also a good way to secure your money like those who have families they will insure against that and those who have not any family member they can donate every thing to trust and many of the people during life they donate all of their money into trust and charity so it is a good way to do this with your crypto.
it will disappear because nobody know your password and nobody can hacked,
It may be possible to take out insurance. I don't know if there is any insurer for this purpose. But once you can prove what you have in your possession. Maybe it's a solution. And you forgot the most famous way to lose all your crypto. You can be hacked.
It would just be left there waiting for someone to take it. Nobody can touch it if you didn't leave some trace how to find it and the password to open your wallet.
Just make sure that there will be someone who will benefit from it if not your earnings will just be a waste. Nobody benefited from the bitcoins that you left.
Just make sure that there will be someone who will benefit from it if not your earnings will just be a waste. Nobody benefited from the bitcoins that you left.
Why are you interested in this question? It seems to me that after your death you will not care what happens to your coins. Only the living have problems. If you want to make life easier for your descendants then you can specify the addresses of your wallets and the passwords to them in the will. If not then your coins will be your monument to the blockchain.
You will not forget that your wallet is owned. Maybe it still has your assets and coin in it. But no one will know if it really exists. So, at some point you might consider deciding to share the key with someone important. Until then you will be serene and peace of mind. 
if no one knows you have crypto then its lost forever .
It is basically the idea when the holder die so to prevent this the holder needs to tell his or her trusted person about his or her investment in bitcoin 
if no one knows you have crypto then its lost forever .
Yes... It has happened with a lot of people in the past, and it is going to happen quite frequently in the future as well. Due to the unique nature of cryptos, it is quite risky to pass on the private keys and passwords to someone else. Unfortunately, this results in the coins getting lost if something happens to the owner.
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