I've just told them, 'with this piece of paper, this is the key when I die'.
And then, I don't know if they have taken that seriously and they still have no knowledge about wallets and seed phrases but they know bitcoin, cryptocurrencies but I think they understood what I mean.
Topic: Who else has your passphrase - page 2. (Read 370 times)
Well, mine I just let them know about my password and they can open my PC and decrypt my files including my seed phrase using that password.
They already memorized the password so it won't be a problem in the future if there is something happen to me.
The best thing is they already know about Bitcoin and crypto and my two sons know how to withdraw their crypto into fiat. They actually playing NFT games and I already teach them how to withdraw them and make them real money. I'm lucky that my whole family can be trusted with my wallet but I always remind them that they can only access my PC when I'm gone.
How about the other people who don't have a family?
Do you think they will still need to share their own secret with unknown people?
So I guess they won't.
So for now we should keep enjoying our life and crypto while we are alive until we found someone who can be trusted about our assets.
They already memorized the password so it won't be a problem in the future if there is something happen to me.
The best thing is they already know about Bitcoin and crypto and my two sons know how to withdraw their crypto into fiat. They actually playing NFT games and I already teach them how to withdraw them and make them real money. I'm lucky that my whole family can be trusted with my wallet but I always remind them that they can only access my PC when I'm gone.
How about the other people who don't have a family?
Do you think they will still need to share their own secret with unknown people?
So I guess they won't.
So for now we should keep enjoying our life and crypto while we are alive until we found someone who can be trusted about our assets.
~
Imagine after gathering all the coins you can afford to gather and no one can access your wallet should in case something terrible occurs will the investment still worth all the time and effort devoted to acquire them?
I was thinking of this lately, but then I remembered that I told one of my family member that I written something in a paper in my work desk and I just told them that they should not touch it at any point as it contains something "critical". Imagine after gathering all the coins you can afford to gather and no one can access your wallet should in case something terrible occurs will the investment still worth all the time and effort devoted to acquire them?
If one day that something terrible happens to me, I noted it that they can use the coins and just follow the instruction. I provided a link for them to learn the basic of how to move that coin around in case that they needed it.
This question has been asked and subsequently discussed a couple of times already on the forum, and this thread may not get the number of responses you desire, thus if you really want to understand the measures a lot of forum users have and will most likely put in place as regards this, then see this thread: https://bitcointalksearch.org/topic/--5284824
Imagine after gathering all the coins you can afford to gather and no one can access your wallet should in case something terrible occurs will the investment still worth all the time and effort devoted to acquire them?
In my opinion, Bitcoin must not be used as an inheritance, neither must it be passed down, I'm not saying it's a bad idea for your loved ones to get your funds if you suddenly die, but most people have already kept quite a lot of things (in their will for example) for their loved ones to claim when they are gone, thus if they try to protect their Bitcoin funds as a result of the nature of the network, and they not being sure how their loved one would prolly handle their private info if they in any way give it to them, then if they die suddenly, I don't think they made a bad choice. 
Isn't this risky?
Someone may just break into your house and break out that safe. A safe is something which attracts a lot of attention of bandits..
Personally, I have handled over a copy of my main wallet seed to a trusted family member which will be able to retrieve my btc in case I suddenly die in an accident. I believe this is very important.
Someone may just break into your house and break out that safe. A safe is something which attracts a lot of attention of bandits..
Personally, I have handled over a copy of my main wallet seed to a trusted family member which will be able to retrieve my btc in case I suddenly die in an accident. I believe this is very important.
It's risky if you just straight off have the raw words written down, with the exact instructions on how to extract the funds. Hence why I only have 'clues' on my safe; basically which consists of some things that only me and the said person can understand. Not sure how to describe it clearly, but it's pretty much like when you and a really close friend has an inside joke that only the two of you can understand. My 'clue' is designed to be understood by the said person, and the said person only.
Now that I'm thinking about it though, we could both die in a car crash together and my funds would simply be gone. Probably need to re-think this lol.
I have the clues written on my personal safe, which I assume my family would try to forcefully open if it's the case that I pass on earlier than expected.
Isn't this risky?
Someone may just break into your house and break out that safe. A safe is something which attracts a lot of attention of bandits..
Personally, I have handled over a copy of my main wallet seed to a trusted family member which will be able to retrieve my btc in case I suddenly die in an accident. I believe this is very important.
You should have your own strategy for such situations. I personally am lucky enough to have a family member with at least some idea on how bitcoin and cryptocurrency wallets work. So with enough information on how to unlock my wallets, that family member should be capable enough to retrieve the funds. I have the clues written on my personal safe, which I assume my family would try to forcefully open if it's the case that I pass on earlier than expected.
How you're going to do it will completely depend from person to person though. If you don't have a trusted family member with crypto knowledge, you might need to write down a really specific set of instructions.
How you're going to do it will completely depend from person to person though. If you don't have a trusted family member with crypto knowledge, you might need to write down a really specific set of instructions.
to answer your title, none. I write notes, passwords, seed phrase, etc... that I think is important. if ever I suddenly die, I am pretty sure my relatives(my siblings in particular) knows where to look, they know me pretty well. since they know about cryptocurrency they will understand that is written in my notebook(I know it's not pretty high tech but it does do a good job on what it is supposed to do).
No one wishes for calamity nor is any wishing to die young but we leave in world where death could come at any point. What will happen to your portfolios the numerous coins in your wallet.
If you don't leave your tutorial to your wife/ husband/ children on how they retrieve the coins you have, those coins will be lost forever. If you store them on exchanges, they will get it. If your account is inactive for too long (6 months or years, depend on exchange's terms of service), they will take over your coin.So if you worry about that, about the death, let's give your tutorial to people you believe in and want to give them inheritance just in case you pass away.
What will happen to your portfolios
~Snipped~
and the noble Bitcoin in that wallet will it go into the network without accessibility.
Let's assume for a second that I'm one of those users that "only" see BTCitcoin as an investment asset [FYI, I'm not], I would probably prepare and leave enough clues [as soon as I started to invest] for my family members so they could easily retrieve and use those investments.~Snipped~
and the noble Bitcoin in that wallet will it go into the network without accessibility.
Imagine after gathering all the coins you can afford to gather and no one can access your wallet should in case something terrible occurs will the investment still worth all the time and effort devoted to acquire them?
The answer to that depends on the reason behind starting that journey [in most cases, it'll be "NO"].
No one wishes for calamity nor is any wishing to die young but we leave in world where death could come at any point. What will happen to your portfolios the numerous coins in your wallet. The XRPs, the doge, the Shiba Inu and the noble Bitcoin in that wallet will it go into the network without accessibility.
Imagine after gathering all the coins you can afford to gather and no one can access your wallet should in case something terrible occurs will the investment still worth all the time and effort devoted to acquire them?
Imagine after gathering all the coins you can afford to gather and no one can access your wallet should in case something terrible occurs will the investment still worth all the time and effort devoted to acquire them?
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