Well most of think the same way, this s not gonna happen to me anytime soon, right.
Your post did start me thinking about this issue, currently I have no system in place do deal with my BTC after I m not around anymore. My family knows about my involvement in BTC but none of them would know how to get my BTC, what are my passwords etc. I ll work on this.
Topic: What will happen to your Bitcoins when you die? (Read 2414 times)
I am storing majority of my Bitcoins in cold storage. My family is aware of Bitcoin and has some idea what it`s and how to use cold storage. I am pretty sure that this is fine. I do not want to keep my property with me 
Right now I am thinking about this... I am having some BTC25 in my possession. But the only person who is knowledgeable in Bitcoin in my family is my cousin, whom I don't trust.
You could give it to your family and also explain how it works so them knowing how it works does not limit your decisions on who to give it to. But they might not care how it works which is another problem.
lol.. I don't trust my wife. In case of a possible divorce, she will steal all my coins. My kid is too young to understand any of this. And my parents are not that tech savy... to use Bitcoins.
If I die suddently then all crypto coin UXTOs are left for oblivion, but if I know I'm dying soon I will convert all cryptos to fiat.
I don't hand out any paper wallets for some reasons.
I don't hand out any paper wallets for some reasons.
Nice thread. Got me right in to the feels trip (don't ask why). I haven't planned anything yet about where will my bitcoins go in case I died accidentally or naturally, but I think I might as well put it in a paper wallet and laminate it, put it in some secret place that I know, and maybe in my deathbed (or if ever I didn't get the chance to relay the information. accidents) I'll tell a clue that leads to the paper wallet, along with the necessary privkeys as well. The one who knows where the clue would lead him/her is the one who definitely know me as a person, not just some other living being that existed.
I have encrypted paper wallets with the password elsewhere. By the time I'm dead they'll either be worthless or everyone'll know how to make use of them. Ideally they'd all be spent in the run up to croaking anyway.
Can someone make a guide to "save" our bitcoin (when we will die) so our relatives can take possess of it and them will not be lost for ever. Thanks for the attention.
PS: we can think this aspect as negative & positive aspect, because your bitcoin is secure but when we will go who will take possess of them?
PS: we can think this aspect as negative & positive aspect, because your bitcoin is secure but when we will go who will take possess of them?
Teaching your son is a 'must' at the earliest opportunity, until then you should put a system in place to who you believe to be the most trusted member of your family!
Teaching your kids is easy. Give them US$150 worth of bitcoin and point them at the NewEgg site. Show them how to do it once, that's all they'll need. :-)
Very interesting topic, it really got me thinking. I voted no. I don't have many Bitcoins to start with and I also don't feel there is a need to teach someone how to spend my funds if something happens to me, just yet. I'll most probably teach my family how to spend them...
Better start thinking of ways to make the funds spendable in case of problems...
Better start thinking of ways to make the funds spendable in case of problems...
One time we certainly have a family of our own.
Tell and teach them what we are doing and doing, and I think we can cooperate with them after they know and understand.
And if we die, at least they know what they should do with what we have.
Tell and teach them what we are doing and doing, and I think we can cooperate with them after they know and understand.
And if we die, at least they know what they should do with what we have.
What will happen to your Bitcoins when you die, will they be lost forever?
I feel that this is something that is overlooked by most Bitcoin users.
Do any of you have a system in place to allow loved-ones to access your funds when you pass on? What is the best way to do this? please share your wisdom in this thread.
I feel that this is something that is overlooked by most Bitcoin users.
Do any of you have a system in place to allow loved-ones to access your funds when you pass on? What is the best way to do this? please share your wisdom in this thread.
I voted: no
I don't have any system to allow my parents, brothers or sisters to access my bitcoin funds. Maybe I should start to think about this eventuality, also for my future son (as heredity or something like that, maybe for their study).
Teaching your son is a 'must' at the earliest opportunity, until then you should put a system in place to who you believe to be the most trusted member of your family! There would be nothing worse than about to meet your maker and not have enough time to tell your family how to release the coin and how to use it etc, if that time comes they should already know and the last minutes you get can be spent telling them the important things. Plus once a 'trusted' member of the family knows the deal then that is one less worry. I have my Dad know everything he needs to to gain access to the funds and i trust in my heart he will give it to who it needs to as he does not need the money, but my family does. I vote yes.
Right now I am thinking about this... I am having some BTC25 in my possession. But the only person who is knowledgeable in Bitcoin in my family is my cousin, whom I don't trust.
You could give it to your family and also explain how it works so them knowing how it works does not limit your decisions on who to give it to. But they might not care how it works which is another problem.
Right now I am thinking about this... I am having some BTC25 in my possession. But the only person who is knowledgeable in Bitcoin in my family is my cousin, whom I don't trust.
If you die and your coins are protected by strong encryption, or nobody knows about your coins. That means they will be lost forever, and that is actually a good thing. Because lost coins only make everyone else's coins worth slightly more. So think of it as a donation to everyone - that is something that Satoshi once said...
I just voted yes .
I allow my mother/father to access my bitcoins .
however the best way is that write your bitcoin details on somewhere else . and told them that only opens when i dies .
if you dont tell someone about bitcoins of yours your all bitcoins will be useless forever .
I allow my mother/father to access my bitcoins .
however the best way is that write your bitcoin details on somewhere else . and told them that only opens when i dies .
if you dont tell someone about bitcoins of yours your all bitcoins will be useless forever .
I think Bitcoins are completely irrelevant to death. If you're about to die....who rlly cares about your BTC
Um... what if you have a lot of Bitcoin, >$100k, how will your family survive without it?
What will happen to your Bitcoins when you die, will they be lost forever?
I feel that this is something that is overlooked by most Bitcoin users.
Do any of you have a system in place to allow loved-ones to access your funds when you pass on? What is the best way to do this? please share your wisdom in this thread.
I feel that this is something that is overlooked by most Bitcoin users.
Do any of you have a system in place to allow loved-ones to access your funds when you pass on? What is the best way to do this? please share your wisdom in this thread.
I voted: no
I don't have any system to allow my parents, brothers or sisters to access my bitcoin funds. Maybe I should start to think about this eventuality, also for my future son (as heredity or something like that, maybe for their study).
I think Bitcoins are completely irrelevant to death. If you're about to die....who rlly cares about your BTC
What will happen with your money when you die?
btw, I plan to take my encrypted wallet in the grave, so no one can assess my bits. That way I'll be doing a big favor to bitcoin ecosystem and reducing total available supply.
btw, I plan to take my encrypted wallet in the grave, so no one can assess my bits. That way I'll be doing a big favor to bitcoin ecosystem and reducing total available supply.
What will happen to your Bitcoins when you die, will they be lost forever?
I feel that this is something that is overlooked by most Bitcoin users.
Do any of you have a system in place to allow loved-ones to access your funds when you pass on? What is the best way to do this? please share your wisdom in this thread.
I feel that this is something that is overlooked by most Bitcoin users.
Do any of you have a system in place to allow loved-ones to access your funds when you pass on? What is the best way to do this? please share your wisdom in this thread.
I will be honest a little while ago i got very ill and had this concern so i taught my partner how to use bitcoin and open the wallet transfer to localbitcoin and make a deal, luckily i trust her with everything of me so i don't need to worry about her ripping me off and also i am still here so alls well that ends well.
I think multisignature wallets could be good to set up so out of 3 you/partner/child 2 will work to release the funds. This should be worked on but BitHalo is s very good start for this scenario.
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