Your Wallet Keys and Passwords should be known to you and you alone. Yes! But... - page 8.

L lawliet

newbie

Activity: 27

Merit: 0

Quote from: OmegaStarScream on August 23, 2018, 06:55:18 AM

Trust is the key factor here. A bank account cannot be access by the family members unless you die but that's not the case for crypto, If you give your password, unless you trust whoever you gave the password to 200%, you should expect that your funds will be gone at any moment.

yeap really true. because this is our treasure

Cryptoville247

newbie

Activity: 85

Merit: 0

Whether anyone likes it or not, he will die. We have no choice other than to entrust our keys to someone before we die. Else, the coins will be wasted.

giantrobot

full member

Activity: 564

Merit: 100

This is a matter of concern. Unlike the wallet or hardware of a bank, no one can manage your wallet electronically. Unless you reveal information about it, only you have the key to open it. We should be prepared when things are unlucky, all information and money will lose with us, our efforts become hopeless and do not help the family. We should be prepared to prevent this bad thing. One of the ways is the wallet hardware and paper wallet, delivered to the people we trust most.

Lucius

legendary

Activity: 3234

Merit: 5637

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Quote from: darkangel11 on August 24, 2018, 02:15:01 PM

The easiest way is to write a will and deposit it at a lawyer's office. If you want to be very safe put your passphrase into the will and place an encrypted wallet file somewhere in the house. The location should also be in the wil. This way if somebody finds the file in your house they will still need the passphrase (most likely they won't know what it is if you change the name and put it in a folder with a lot of other similar files). The lawyer will also not be able to take your money as he would have to steal the files from your house first. If you die the family will get the whole thing.

It seems to me this is the safest option if you want to make sure that no one from the family members will not come to the temptation to take coins from real owner before he dies. But this option is not free and lawyer need to be 100% trusted, these day you can not be sure actually in no one. Lawyer always can sell this info to some criminals who will come to your house and get wallet file, then they will split the money. This perhaps resembles a film script, but it can happen in real life.

The key thing is trust, some people can be trusted and some not - but I think if we have someone which means something to us in life, we should enable him to inherit our private keys. The idea that all of what I've worked for years one day just disappears in the endless expanses of digital space is not something I like it.

jamesblue1

jr. member

Activity: 47

Merit: 8

Its so easy, before you die or when you know that you have health issues or your life is being threatened, then simply make a note that your family can only open when you're gone. That note should contain not just the keys/passwords but also on how they are able to get the funds.

solkinsolali

member

Activity: 154

Merit: 17

Quote from: darkangel11 on August 24, 2018, 01:55:12 PM

I'm not taking this whole thing about keeping keys private and protecting the money too seriously. Some of you guys are going too far with the secrecy, not telling anyone that you have cryptocurrencies, keeping your passphrases secret and such. If you live with someone and are running a house with that person, there's no reason not to trust each other. If your wife decides to kill you and get your money she will find a way. If you have reasons not to trust her just get a divorce right away and find someone else.

Thanks very much. You have also point out a very important thing here. Your wife can always find her way round you. So, if you are not safe with her, then maybe you take a decision about it.

Phil315

newbie

Activity: 68

Merit: 0

This is a very good advice to everyone out there. Don't allow your family to starve to death whereas they are seeing cryptocurrencies worth thousands in your wallet addresses they cannot access.

harizen

legendary

Activity: 3122

Merit: 1398

For support ➡️ help.bc.game

Quote from: 1Referee on August 23, 2018, 08:47:15 AM

Trusting your wife is the worst possible thing you can do. No one should be so stupid to do that.

Who's there to help you? Family members are mostly just as much of a snake ready to bite when you're not looking. No thanks.

Quote from: LFC_Bitcoin on August 23, 2018, 08:59:00 AM

Family members can go fuck themselves to be honest.

Save your story to yourselves. Don't applied it generally to everyone because people have different experience.

Feel sorry for the experienced you

To summarize my story, all my private keys including keys from a dead and shitcoin are all placed in a note (Flash Drive and saved from different storages). That will also include the .dat file of a wallet. All my family members knows that note.

Too much drama for me if until to the end I will kept it as secret just because of my self reason and price. I trust my family and I don't even care if they will spend it although they will not do it.

Well then we have different approach and story on our side. I will not take my statement in general.

darkangel11

legendary

Activity: 2478

Merit: 1360

Don't let others control your BTC -> self custody

Quote from: kingcolex on August 24, 2018, 12:56:08 PM

Quote from: eternalgloom on August 24, 2018, 12:18:04 PM

I've long taken care of that aspect, it's something I thought about a couple of years ago.
Like, 3 or 4 years ago, I've compiled a pretty extensive tutorial on how to exchange the funds on my paper wallets and I've given that tutorial to some family members.

I've given just the tutorial though, so they currently have no access to any private keys.
Now, if something were to happen to me, they know where they can find my private keys, but as long as that doesn't happen => no access.

I'm not going to go into too much detail, but something like this is pretty easy to set up when you think about it.

The key to your safe is inside you! I knew it all along! But seriously how can they not be able to access a location with you alive only?

The easiest way is to write a will and deposit it at a lawyer's office. If you want to be very safe put your passphrase into the will and place an encrypted wallet file somewhere in the house. The location should also be in the wil. This way if somebody finds the file in your house they will still need the passphrase (most likely they won't know what it is if you change the name and put it in a folder with a lot of other similar files). The lawyer will also not be able to take your money as he would have to steal the files from your house first. If you die the family will get the whole thing.

kingcolex

sr. member

Activity: 254

Merit: 1258

Quote from: eternalgloom on August 24, 2018, 12:18:04 PM

I've long taken care of that aspect, it's something I thought about a couple of years ago.
Like, 3 or 4 years ago, I've compiled a pretty extensive tutorial on how to exchange the funds on my paper wallets and I've given that tutorial to some family members.

I've given just the tutorial though, so they currently have no access to any private keys.
Now, if something were to happen to me, they know where they can find my private keys, but as long as that doesn't happen => no access.

I'm not going to go into too much detail, but something like this is pretty easy to set up when you think about it.

The key to your safe is inside you! I knew it all along! But seriously how can they not be able to access a location with you alive only?

BestSSS

jr. member

Activity: 434

Merit: 4

Quote from: 1Referee on August 23, 2018, 08:47:15 AM

Quote from: Indamuck on August 23, 2018, 08:24:09 AM

I know a lot of men that wouldn't even trust their own wife.........

Trusting your wife is the worst possible thing you can do. No one should be so stupid to do that.

I won't ever grant anyone access to my coins, not even partly. When I'm no longer part of this world, my coins will be 'burned' for ever. I don't do it because I want to gift other fellow Bitcoiners extra value now there are less coins in circulation, but it's a principle thing. I'm not being selfish. Why is it selfish to just have your coins go down with you? I'm in no way obliged to help anyone who didn't do shit to deserve even one single satoshi of mine.

Who's there to help you? Family members are mostly just as much of a snake ready to bite when you're not looking. No thanks.

A family you don't trust is not a family! Why live with a man who is willing to steal everything from his most loved one - it's not right. All the money earned is always a common property of your family for the benefit of children and yourself and I think it's right. Trust and love are the first things to live for. Why do you need your wealth if you do not want to leave it to anyone. If tomorrow you will not be - for whom all your work?

darkangel11

legendary

Activity: 2478

Merit: 1360

Don't let others control your BTC -> self custody

I'm not taking this whole thing about keeping keys private and protecting the money too seriously. Some of you guys are going too far with the secrecy, not telling anyone that you have cryptocurrencies, keeping your passphrases secret and such. If you live with someone and are running a house with that person, there's no reason not to trust each other. If your wife decides to kill you and get your money she will find a way. If you have reasons not to trust her just get a divorce right away and find someone else.

vicvicto17

member

Activity: 362

Merit: 10

As far as i know there's a certain coin that will validate your private key. Example if you're a consignee A and you have another COnsignee B which is your love ones. they can get the amount that you have- It's like multi sginature wallet. One good example is Nem(XEM) they have this wallet. So it's very safe and easy to use, Unlike other altcoins that they offer

eternalgloom

legendary

Activity: 1792

Merit: 1283

I've long taken care of that aspect, it's something I thought about a couple of years ago.
Like, 3 or 4 years ago, I've compiled a pretty extensive tutorial on how to exchange the funds on my paper wallets and I've given that tutorial to some family members.

I've given just the tutorial though, so they currently have no access to any private keys.
Now, if something were to happen to me, they know where they can find my private keys, but as long as that doesn't happen => no access.

I'm not going to go into too much detail, but something like this is pretty easy to set up when you think about it.

MadaraAvenger

member

Activity: 120

Merit: 10

Well it's fundamental and one of the most important rulles in crypto "always make sure you're in full control of your funds". Besides this, it's not safe to keep your altcoins into exchanges, you never know what can happen with that certain exchange. The only reason to keep altcoin on exchanges are because you're a trader or you're lazy to get a hardware wallet...

kingcolex

sr. member

Activity: 254

Merit: 1258

A cold storage paperwallet with an easy to reveal private key would solve this. Just keep it in a safe spot where your wife knows where it is and how she can redeem it.

Ferki

member

Activity: 266

Merit: 25

Well,thats something to think about.Not becouse we are selfish,or i´m selfish.Just becouse i´m to lasy to get my son or wife into it.Now i need to write all those passwords down on the paper. But imagine those guys with lot of MEW´s accounts if something goes bad.
Ty for the thoughts anyway

ajuelnah akun

newbie

Activity: 140

Merit: 0

make a copy of your private key wallet, and give it to the closest person such as your wife or the person you trust the most.
so if something bad happens then your bitcoin will still be accessible and used.

meritbygrace

jr. member

Activity: 153

Merit: 1

YES. it should,Wallet Keys and Passwords should be known to you and you alone, But who knows what next to happen! like myself my younger sister has mine keys and password. she's my lovely one, very trustworthy, its all depend on one self.

paulo013

member

Activity: 195

Merit: 10

This is the situation that i thinking if im gone someday. How can i help my family on financial needs?. Then this is the time to opened up my wallet keys on my family specially to my brother and sister. I don't want to be selfish to them. I teached them how was cryptocurrency work. We have to think it advance from every situation can be happen in the future. I think this is the best thing we can do to our family.

Topic: Your Wallet Keys and Passwords should be known to you and you alone. Yes! But... - page 8. (Read 2697 times)