Topic: What would happen to your BTC and Alts if you died today? - page 6. (Read 6041 times)
This is a nice question, actually I think about this also if Im gone and all of my BTC is in an online wallet. So, one of my family knows about bitcoin and had an idea about what Im doing. The problem is no one really knows my account, all of my details to login into my account. Maybe I shoud really inform all of my details whatever happen.
Probably my family will use them because they know where I have my paper wallets and I have ordered to do it in a case of emergency because it not makes sense they can't have access to my money because I died.
Ive been also thinking this kind of scenario what if i die what happens to my BTC and who will benefit from it.
I guess the only way to resolved this is to teach them how to use BTC before it's late for you or just give some detailed instructions then give it to whom you might give your bitcoins.
I guess the only way to resolved this is to teach them how to use BTC before it's late for you or just give some detailed instructions then give it to whom you might give your bitcoins.
Well if i am dead my bitcoin will be sold by my daughter because i have wrote all of my private key,
password and other related with digital coins on the paper that had been puted in the box
so my family know what have to do if there are bad something to me and it is not problem.
password and other related with digital coins on the paper that had been puted in the box
so my family know what have to do if there are bad something to me and it is not problem.
when a user can't use the missing bitcoin or vice versa like a dead bitcoin holder this affects the loss of money from the circulation. the missing bitcoin is still in the chain-like blocks of other bitcoins. however the missing bitcoin will remain inactive forever because there is no way that anyone can find a private key that allows it to be used again.
There are too types of death, an accident /murder and slow type of death because of a disease or weakness. But I'll choose to be dead slowly only if I can choose and so that the bitcoins that I've got can be transferred of sold with fiat and I'm going to give to my family and I will put a portion of it for giving to the less fortunate. But when I died by accident and I didn't taught them how to acquire my coins, that will be burned.
They would go to my wife. Or probably first to my brother as he knows more about and then to my wife. But seriousl, this is a good qeuestion and shouldnt be ignored. I for sure will think further about.
In the event that I died, chances are there wouldn't be all that much in the way of BTC and various alts for my family to receive (as of right now), but there are some ways that they could gain access to what I do have. Maybe I should start to tally down what it is exactly that I have and how they would be able to access it.
I don't have much in the way of anything in cryptos to give them, but I hope to change that over time. Going to see what I can add on to my wealth and potentially start a business.
I don't have much in the way of anything in cryptos to give them, but I hope to change that over time. Going to see what I can add on to my wealth and potentially start a business.
I've been thinking about this situation, that's why I'm trying to teach my parents, brother and sister for this. They are good in technology, they know the updates for now and was able to hold gadgets. But I really don't understand why they are so lazy when I'm teaching them how to bitcoin, but they know how I cash out my bitcoins so they will just inherit it.
I have accumulated some Bitcoin and other alts. Most of my holdings are in a single wallet yet I have a few on different platforms and one left on an exchange. I have tried to explain this to my spouse yet there is not a full understanding. If I died I am confident that all of this would not be recovered.
This weeks project is to write an encrypted note detailing where are the holdings are and how to access them. Even with access, the knowledge is not there to be able to convert the holdings to fiat if necessary.
What is your situation ?
This weeks project is to write an encrypted note detailing where are the holdings are and how to access them. Even with access, the knowledge is not there to be able to convert the holdings to fiat if necessary.
What is your situation ?
If I died, my coins would be lost to my family. Nobody would remember that I dabbled in this stuff. Nobody would care.
Good idea. I think I'll write a note and put it in a place they could find it when they start rummaging through my files...
The good thing about my situation is that my
family knows about bitcoin and alts. So if
I die they can easily have access to my accounts.
family knows about bitcoin and alts. So if
I die they can easily have access to my accounts.
I have taught my parents about bitcoins and they very well know how to handle it so even if I die they will be the ones who will be having total access to my wallet and they can use my bitcoins wherever they want so my bitcoins will not go worthless even if I die.
Well, Before I die, I will make sure to tell my family about bitcoins that I have left, and I will write down anything related to my bitcoin, including my wallet, the amount of bitcoins, and how to cash them if needed. I also hope to educate my family enough about Bitcoin so that they won't cash them, but rather they would continue my legacy 
.
.You better make sure they understand how to use them first ^^.
My family know what to do and how to recover my wallets they can just look online anyway. I have backups of the private key and paper wallet for long term storsge.
I wonder how many Bitcoin have been lost from people dying ? xP
Nothing special will happen just take a look at Satoshi may God bless his poor soul, he was killed and his coins still sitting in their deposit addresses until some day some one finds a way either by hacking or finding the private keys.
And you shouldn't say "if" but rather "when" because sooner or later we're all going to die.
Either write a script to auto send them to some charity organization as donation or if the amount is large you could still do the donation part but either hire a lawyer or write script again to do the job or isn't there a post service which will hold whatever mail or package you have and sends in specific date and time to where ever you say?
Or put the instructions into your will, however tell them not to spend bitcoins for at least another 2 decades to have more money by then.
And you shouldn't say "if" but rather "when" because sooner or later we're all going to die.
Either write a script to auto send them to some charity organization as donation or if the amount is large you could still do the donation part but either hire a lawyer or write script again to do the job or isn't there a post service which will hold whatever mail or package you have and sends in specific date and time to where ever you say?
Or put the instructions into your will, however tell them not to spend bitcoins for at least another 2 decades to have more money by then.
This is a good question that everyone should answer for themselves, since the chance of dying eventually is, well, pretty high.
In my case, I already have encrypted files detailing (separately) where my funds are allocated, and account information to access them. My wife is able to access the files, which are securely backed up in safe locations. This includes copies held by out-of-state relatives, who do not have the passwords to access them. Those are held by another relative who does not have access to the files. They would have to get together in the event of the demise of both my wife and I, but could then access the information to access my crypto portfolio (and all other financial assets for that matter).
Be safe, but take thought for your loved ones and beneficiaries. Odds are someday it will be important.
In my case, I already have encrypted files detailing (separately) where my funds are allocated, and account information to access them. My wife is able to access the files, which are securely backed up in safe locations. This includes copies held by out-of-state relatives, who do not have the passwords to access them. Those are held by another relative who does not have access to the files. They would have to get together in the event of the demise of both my wife and I, but could then access the information to access my crypto portfolio (and all other financial assets for that matter).
Be safe, but take thought for your loved ones and beneficiaries. Odds are someday it will be important.
Well, Before I die, I will make sure to tell my family about bitcoins that I have left, and I will write down anything related to my bitcoin, including my wallet, the amount of bitcoins, and how to cash them if needed. I also hope to educate my family enough about Bitcoin so that they won't cash them, but rather they would continue my legacy .
. 
I think I would save all my accounts and send it to one of my family members,
So if I die they could use the money that I got in the internet.
So if I die they could use the money that I got in the internet.
Well, in case i die my bitcoins will/should be available to my family. i don't want my bitcoins to be lost.
i have a hardware wallet and all it needs is 4 digital numeric pin to open, i could simply write down that in a diary and hope someone reads it at some point.
i have a hardware wallet and all it needs is 4 digital numeric pin to open, i could simply write down that in a diary and hope someone reads it at some point.
I have accumulated some Bitcoin and other alts. Most of my holdings are in a single wallet yet I have a few on different platforms and one left on an exchange. I have tried to explain this to my spouse yet there is not a full understanding. If I died I am confident that all of this would not be recovered.
This weeks project is to write an encrypted note detailing where are the holdings are and how to access them. Even with access, the knowledge is not there to be able to convert the holdings to fiat if necessary.
What is your situation ?
This weeks project is to write an encrypted note detailing where are the holdings are and how to access them. Even with access, the knowledge is not there to be able to convert the holdings to fiat if necessary.
What is your situation ?
Same story with my wife, but i'm lucky to have a daughter that finds crypto currency rather interesting. Started her off with some DOGEcoin (since they were really cheap) on an android wallet... Moved up to a self-funded monero coin (thanks smoothie) which she loves and keeps around her room to show off.
Now, i've given her my old ledger HW.1 (bought a new ledger nano S for myself), and i'm paying her in BTC when she does some (very small) chores around the house and when she gets good grades (acutally, i accumulate these earnings untill she has $50, and then i pay her these $50 in one go).
Conclusion: when i die, i hope my kid will know what to do with my ledger nano S (it has a pincode my wife knows btw)...
That's a great idea. My child just started her first job and I told her that she must invest a portion of her earnings. Along with eye rolls, listens each week as I rattle off how much this currency or that went up. BTC was mentioned as an investment. So along with this comes the knowledge of how to access it.
I have accumulated some Bitcoin and other alts. Most of my holdings are in a single wallet yet I have a few on different platforms and one left on an exchange. I have tried to explain this to my spouse yet there is not a full understanding. If I died I am confident that all of this would not be recovered.
This weeks project is to write an encrypted note detailing where are the holdings are and how to access them. Even with access, the knowledge is not there to be able to convert the holdings to fiat if necessary.
What is your situation ?
This weeks project is to write an encrypted note detailing where are the holdings are and how to access them. Even with access, the knowledge is not there to be able to convert the holdings to fiat if necessary.
What is your situation ?
Maybe I am not too old but as human never knows. For me the best strategy is the most funds in a paper wallet and detailed explanation, like as a step by step guide convert to fiat using an ATM machine. Currently many countries have more than one so I believe that is a good solution in that case. The other one you must find an experienced with cryptos attorney where he will keep a copy of your testament like as your other assets.
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