What will happen to bitcoin in our wallet when we die - page 4.

Searing

copper member

Activity: 2898

Merit: 1465

Clueless!

Quote from: Falconer on July 25, 2015, 01:04:00 AM

If we are having bank account with our name on that, and suddenly we die, what happens to our bank account then? Here's a guide to help you figure out where the money from a bank account goes after death so that you can make an informed decision about what you want to do in http://www.huffingtonpost.com/mybanktracker/what-happens-to-your-bank_b_4860213.html

And then, what will happen to our bitcoin when we die?

All my btc and ltc is in paper wallets and in a safety deposit box at my local bank. (Yeah I'm a bag holder)

My brother who lives locally is also on the card to open the safety deposit box should
I get hit by a truck or some such. Also I keep a book of all my passwords etc in there and my house purchase info etc and other important
docs in case my house burns down when away or some such.

Now that I've done all this what I suspect will happen in 30 years or so....is this:

I"ll be sitting in the old folks assisted living place by then......I will be informed that my bank was robbed and the safety deposit boxes were ransacked..and I will be like

'crap......millions come and millions go'....

(its how my life rolls don't ya know)

anyway if the above happens or a meteorite takes out the bank it will just go to show the "asic miner gods" always hated me

I also have the works sealed in a water proof pouch
in case the bank has fire issues or some such (sprinklers)

Hopefully this should be paranoid enough..and yes these are my ONLY copies of the paper wallets nicely sealed etc

but again if the above paranoia is not enough well to heck with it .......fate just hates me at that point ....and I'll have proof

prodigy8

hero member

Activity: 532

Merit: 500

maybe you should leave a statement with the private keys but it would be hard to understand for someone that doesnt know even what bitcoin is

g1974ak

newbie

Activity: 14

Merit: 0

Quote from: Falconer on July 25, 2015, 01:04:00 AM

If we are having bank account with our name on that, and suddenly we die, what happens to our bank account then? Here's a guide to help you figure out where the money from a bank account goes after death so that you can make an informed decision about what you want to do in http://www.huffingtonpost.com/mybanktracker/what-happens-to-your-bank_b_4860213.html

And then, what will happen to our bitcoin when we die?

If haven't thought before your die about your bitcoins they are lost. Or better remain deposited in your wallet in eternity. I don't know another way that those can be recovered except with the password of the wallet. So, good to know, put in a safe place all the kind of passwords and 2 factor auth of your wallet and inform about this your wife, your children or someone who you trust. Only in this way your bitcoins will be safe.

ammy009

sr. member

Activity: 304

Merit: 250

PUSS Lover

think bitcoin like as your precious treasure ; you must back up your private keys in the stronghold ; after your death your children will got them..

randy8777

legendary

Activity: 896

Merit: 1000

wallets that only the owner can access and no one else will make bitcoin even more rare as there will be less coins in circulation. but then the next question: what happens with the fiat and coins stored on exchanges when something happens with the account holder?

OmegaStarScream

staff

Activity: 3500

Merit: 6152

Just like the money on our banks , it goes to my family . also why would anyone on earth care about anything if he is dead . they are free to enjoy the fiat / BTC however they want to .

Falconer

legendary

Activity: 2660

Merit: 1141

Quote from: ?? on ??

To my wife yes, my children aren't born yet but yes when they are I will make sure they know what it is, there is no reason to raise fools and tell them like my parents told me to put my money in an account that loses 2% yearly while making 1% in interest.

Quote from: Amph on July 25, 2015, 02:57:02 AM

only my family has access to my bitcoin at least those that are stored in a cold storage(of course with my permission), the other will be passprotected because inside my desktop, so at least the big portion will be retrieved

Quote from: gerXhonza on July 25, 2015, 04:03:24 AM

My Bitcoin would go to my wife and child when I die when the private keys will be giving to them from my safety deposit box. I have already showed her how to import private keys and she knows the encryption so she will be good to go. The bitcoins will live on lol

Glad to hear you have introduce bitcoin to your family. My parents can't understand about it and I dont have wife yet. I think its an important thing for us, which if something happen to us, no one cant reach our money in the wallet forever.

Quote from: ridery99 on July 25, 2015, 04:21:14 AM

My bitcoins will be in secured wallets and not spendable. So they are stored forever and decreasing the amount in the circulation Cheesy

What if you never spend your bitcoin and suddenly you wont have any chance again to using it? Cheesy

Do you let it stay there forever or have you passed your password to someone you believe?

ridery99

hero member

Activity: 616

Merit: 500

My bitcoins will be in secured wallets and not spendable. So they are stored forever and decreasing the amount in the circulation Cheesy

gerXhonza

hero member

Activity: 812

Merit: 1000

My Bitcoin would go to my wife and child when I die when the private keys will be giving to them from my safety deposit box. I have already showed her how to import private keys and she knows the encryption so she will be good to go. The bitcoins will live on lol

Furio

legendary

Activity: 938

Merit: 1000

Quote from: ?? on ??

Quote from: Falconer on July 25, 2015, 01:15:19 AM

Quote from: ?? on ??

Just like the precious metals in my closet my children will open my trunk and go through my things, find ounces of silver and gold and paper wallets full of bitcoins that are hopefully worth more than the precious metals.

Then have you introduced bitcoin to your children?

To my wife yes, my children aren't born yet but yes when they are I will make sure they know what it is, there is no reason to raise fools and tell them like my parents told me to put my money in an account that loses 2% yearly while making 1% in interest.

Right, just like the advice just try to fit in.... Or get a high paying job, yeah that's gonna make the world better.... Fit in in a deeply sick and twisted system...

Amph

legendary

Activity: 3248

Merit: 1072

only my family has access to my bitcoin at least those that are stored in a cold storage(of course with my permission), the other will be passprotected because inside my desktop, so at least the big portion will be retrieved

Envrin

sr. member

Activity: 318

Merit: 251

Include the private keys in your will, and pass them to whoever you're handing down all your other money to.

Falconer

legendary

Activity: 2660

Merit: 1141

Quote from: deon on July 25, 2015, 01:06:37 AM

I have a list of important passwords stored away in a safe for when I die. This includes my coinbase account. I will add my multibit password to the list too. Thanks for bringing this up.

It would be useless if your passwords just be laid in your safe, non bitcoin user cant understand it

Quote from: Furio on July 25, 2015, 01:08:37 AM

People that don't store their passwords for their loved-ones to find if they die, will have their Bitcoins vanished. They will allways be in the blockchain, yet never spendable. You reminded me to explain it to my wife (again) Encryption isnt really her thing Grin

Atleast we have to mind this thing Cheesy

I think you should make a 'procedure to how open your bitcoin wallet and use bitcoin' for her.

Quote from: ?? on ??

Just like the precious metals in my closet my children will open my trunk and go through my things, find ounces of silver and gold and paper wallets full of bitcoins that are hopefully worth more than the precious metals.

Then have you introduced bitcoin to your children?

Furio

legendary

Activity: 938

Merit: 1000

Quote from: Falconer on July 25, 2015, 01:04:00 AM

If we are having bank account with our name on that, and suddenly we die, what happens to our bank account then? Here's a guide to help you figure out where the money from a bank account goes after death so that you can make an informed decision about what you want to do in http://www.huffingtonpost.com/mybanktracker/what-happens-to-your-bank_b_4860213.html

And then, what will happen to our bitcoin when we die?

People that don't store their passwords for their loved-ones to find if they die, will have their Bitcoins vanished. They will allways be in the blockchain, yet never spendable. You reminded me to explain it to my wife (again) Encryption isnt really her thing Grin

deon

newbie

Activity: 29

Merit: 0

I have a list of important passwords stored away in a safe for when I die. This includes my coinbase account. I will add my multibit password to the list too. Thanks for bringing this up.

Falconer

legendary

Activity: 2660

Merit: 1141

If we are having bank account with our name on that, and suddenly we die, what happens to our bank account then? Here's a guide to help you figure out where the money from a bank account goes after death so that you can make an informed decision about what you want to do in http://www.huffingtonpost.com/mybanktracker/what-happens-to-your-bank_b_4860213.html

And then, what will happen to our bitcoin when we die?

Topic: What will happen to bitcoin in our wallet when we die - page 4. (Read 3488 times)