Topic: Who is most reliable person? - page 4. (Read 623 times)

I am still struggling to understand what you're trying to point, OP. Though I kinda get it that you're asking on who you should entrust your Bitcoin and your private keys, right? Just think of it as giving your ATM card to others which you kinda already mentioned. Surely not a single soul would do that.

Even though the person you trusted the most including your wife, you may want to keep it secret for now until the "right" time comes for you to at least share a little bit of details about it but again it is your privacy that you might give away at the end.

I completely agree with lovesmayfamilis and others. It's important to have someone you can trust with your cryptocurrency funds in case something happens to you. It's also important to consider the level of risk you're comfortable with. If you're young and healthy, it might be best to take control of your own investments and be your own bank. But if you're older or have health concerns, it's wise to have someone trustworthy to take over. It's all about personal choice and finding the right balance between security and accessibility.

However, I also think it's important to educate yourself on the best security practices for storing your cryptocurrency, regardless of whether you're entrusting it to someone else or holding onto it yourself. No one cares about your money as much as you do, so it's important to take the necessary precautions to keep your investments safe.

Trust is something people find very difficult to have when it comes to something private but we forget that nothing last for ever. The password or private pin you have with you can just be there while you're gone, to me is best you take the hardest decision go outside the box and trust that one person, I'd prefer your wife or girlfriend and you must be sure if that person is worth it...

OP when it comes to money no one is reliable, even friends or family, specially if its a big amount of money, maybe that will work in the old days, but still there is a percentage that they will stab you in the back, as a golden rule, never share your keys to anyone, because even though you trust them, they might accidentally, leak or share the keys without knowing that its very important, greed will turn people backs around you i guarantee you that, in my experience, the person i trust before, hates me after we hit a jackpot on a certain coin, he now believes that he is better than anyone, he thinks he is better to anyone in the group.

...and then peeps talk about trust? Especially When you've only been shown how to HODL without being properly oriented on the DO's and DON'Ts, how to avoid every possible scam, What's yours personally and should remain your privacy except otherwise....
They'll simply ask you to go copy them seedphrase and paste for them, all in a bid to something you won't even care to ask, since you're not even tutored how the whole system works... before you'll realize what happens, your whole wallet's empty, then you'll begin trolling with BTC's impeccable name as being a SCAMMY project......I believe this is the reason why you were introduced into BTT.

Sandra 🧑‍🦰

OP is making jokes comparing bitcoin wallets and private key with clothing. He is not making any sense, just adding line before asking a simple question.
Private key and seed phrase is key to your private bitcoin volt, if you want to share your assets with anyone you can share the key to that person.

As you can see, everyone has different opinions, and this will always be the choice of the owner himself. If you own a significant amount but are sick and do not know how long you can last in this life, you can entrust your keys to your loved ones, wife, husband, children, and friends. People should always have a person they can trust. If there are no such people, you can feel sorry for such a person.
But if you are young and full of health, and are just at the beginning of investing in bitcoin, try to rely only on your strength. Become your own bank, as Satoshi himself intended.
In any case, Bitcoin is good because it always leaves the choice to the person.

Well it's your possession and asset and only you can determine who to give and who not to give.
I personally think giving out your seed phrase or pass key solely depends on how much trust you might have for the next person and how secured you think your possessions might be with them else it's not advisable to give out your private keys to someone else as it gives automatic access to your coins and holdings.

I've seen cases of people who give out their private keys to their spouse not just for the sake of trust but just incase of neccesity or demise of the original owner, the spouse would still have access to the coin rather than loss all of its possessions.

Please because someone introduced you to Bitcoin or helped you create a wallet isn't a guaranty for you to release your private key to them except you're ready to face the consequences just incase things go wrong.

In all, please do well to key your seed phrase safe and private as there is this saying "not your key, not your coins"

Trust is what really matters in life and the only people that we can trust are our closed ones especially our spouse. Your phrase seed shouldn't be exposed to anyone irrespective of whom the person is to you. I can only let my husband know about my seed phrase because he know the risk involved in disclosing your seed phrase to someone.

You don't have any reason to disclose your seed phrase to someone that taught your about bitcoin because you don't owe him anything and he might end up playing smart on you,since betrayal is part of human nature. If your seed phrase is disclosed to someone that is not part of you,it is a must that your coin will be stolen either by the person that you disclosed it to,or someone that will have access to it from the person that you disclosed it to due to carelessness.

There is no one trustworthy enough to share a phrase and private key with. Even the person who introduces me to Bitcoin knows the risk of sharing such data with him/her, and as such, even if one wants to make such a mistake by sharing the key phrase with his/her mentor, the teacher will definitely reject it, if he/she wants to be on the safe side. Because if I have access to your private key or phrase and something happens to your holdings in that wallet because of your carelessness, your first suspect will definitely be the person whom you know has access to your key, and that will spoil the good the person has done for you. To keep a healthy friendship or relationship, we should always keep those from them.
 
But to some point I do recommend sharing key phrase with a few trusted party either spouse, blood or anyone just as @Rikafip have said, who you know can grab access to your wallet when one have some kind of issue which might restrain him access to the wallet, either bad health condition which ever the case maybe.

The person who taught you about Bitcoin isn't always a genuine person, I think you've no experience about someone you trust backstabbed you.

If you have a wife and child, it's better to teach your wife first and then when your child gets older, you can teach him because you need to pass your Bitcoin to the next generation if you don't want to lose your coins. It's all depends on your child how he will use your coins, all you need is trust him.

Bitcoin wallet private keys are far more important than your bank's ATM pin because if you lost your ATM pin it can be recovered, all you need to do is visit the bank, you can even decide to change your ATM pin code if you wish but you can't change your private key, the numbers will remain the same forever until you are done with the wallet.

The reason why you would want to share your keys with spouse or friends is because you trust them, which is not a bad thing, but I prefer telling them to open their own wallet and send what I can to them, especially friends, you can't trust any.

The only one who can answer and decide that is you because you know those people and how they are, but I personally woulnd't trust anyone else other than my wife and my parents with something as sensitive as this is.


While people should be generally careful regarding these things, I don't think that its a smart thing to not have a contingency plan in case something happens to you. In my case, my wife has the access to the Ledger's seed phrase and instructions what to do in case something happened to me as it would suck if all my effort in all these years goes in vain. Now someone might say "your wife might end up stealing your crypto and running away" and while that's true, if I don't trust her with money, why the hell would I even stay married to her?

It depends because everyone is different in carrying out this opinion and some don't even give it to anyone even though he has a wife and children to inherit it, depending on whether he wants to show it to those he loves or not as long as it's right according to you.

More, don't talk about bitcoin to anyone, especially with the amount shown, just give me the seed phrase if you really love it, but the closest relationship is children, so they can share the seed phrase with them when they grow up.

I don't want to be rash I will be very careful and careful when giving seed phrases even though it is my child, I will definitely test him how he can do that well and the bitcoins I give him.

I don't want to take a big risk, so I need longer deliberations.

Why not? Each bitcoiner has the right to do with his btc whatever he pleases and can share information about his keys with anyone. Of course, this should be a trusted person to whom you are basically ready to leave your btc as an inheritance or simply give it away. It doesn't matter at all who it will be, a relative, friend or stranger. An important point is trust and willingness to give him bitcoin. In particular, one should not forget about this person's awareness of BTC. He should know the basics of using and safely storing bitcoin so as not to lose it.

Just make sure you choose the right person. I see it as a combination of trusted custodian and heir.

If I'm not mistaken, the essence of your question is who can be trusted to hold the private key if something happens to you. This question is very common, the answers are always varied. Early anticipation is needed to save assets if something happens to you, your wife, children, brothers, sisters and other family members can be used as trusted people to hold the private key.
The child will inherit all the wealth you have, he deserves to be entrusted with accessing your wallet. If your child is still small or don't understand how to access a wallet, a wife is someone you can trust.

For now, it is not time to give the private key, seed phrase to all of them. It's just time to let them know that we have their most valuable asset. Giving them the seed phrase or private key is the same as giving them the opportunity to access something valuable.
Personally, I would give it to a loved one like my wife someday and she's the one I trust to have it, even though no one I trust should have access to it at first.

It's generally not recommended to share your Bitcoin private key or any other sensitive information with anyone, including your loved ones or family members, unless it's absolutely necessary. Your private key is essentially your password to access your Bitcoin, and if someone else has access to it, they can potentially steal your Bitcoin or misuse it.

However, you can share information about your Bitcoin with someone you trust, such as a close family member or friend, without actually sharing your private key. For example, you can tell them about your investment in Bitcoin, how you manage your Bitcoin wallet, and your overall strategy for buying, selling, and holding Bitcoin.

If you want to ensure that your Bitcoin is passed on to your loved ones in the event of your death, you can consider setting up a legal will or trust that includes instructions for how your Bitcoin should be transferred to your heirs. You can also consider using a multi-sig wallet, which requires multiple private keys to access your Bitcoin, and give one of the private keys to a trusted family member or friend.

Ultimately, the decision to share your Bitcoin information with someone is a personal one that should be carefully considered based on your individual circumstances and the level of trust you have with the person in question. It's important to remember that once you share your private key or any other sensitive information, you lose control over your Bitcoin and the risks associated with it increase.

I would like to not let anyone know that I am investing in Bitcoin and surely never let them know about information of my bitcoin. I guess by "information about your bitcoin", you meant that it is about wallet private key or mnemonic seed, didn't you?

If you mean this, it is very risky and never is a thing you should do. Except if you plan to give that amount of bitcoin to someone as inherited gift for them.

You can create a new wallet with an amount you want to give away to someone, with locktime.
Using Locktime for inheritance planning, backups or gifts

Trust we have to know who is most relied on in your family but for other people I think it's a big deal because they can access bitcoins anytime if you give them a copy of the private key even though he has taught you about bitcoins to understand, but keep in mind other people's trust will not be entirely good, in fact when they see a lot of your assets they will act to take your bitcoins.

The safest is never to share the private key with anyone even if he is not your real partner.

At the moment I still haven't shared the private key including my wife who I love at the moment I'm still keeping it longer and it's still being resolved, but most likely later I will share the private key with my wife for my children later when I'm getting old.

Until now, it is still holding itself for the private key that is owned.