Bitcoin Forum

Whenever I undertake risk I am considering  it twice as much  as I used to
With me gone also my coin will disappear, nothing of my stash value will left for my family, it is  both fascinating and scary
Who among you share the feeling

Why would you take your coin to the grave with you?

Teach them how to use BTC.. Problem solved :D

Just educate someone in your family, to take over? like this person said..

I dont understand, why you wouldnt?

That's awfully selfish. You do know that there are multiple ways to make sure your family will have access to your bitcoins should you die.

Yeah that's quite selfish  ???

I am not sure they can handle it.
what more important I am not sure I want anyone to know how to access my coin, not ready for this

No sense you make... but don't worry, someone will probably find a way to steal your coins long before you have to worry about dying with them.

:)

Well it would make sense if you are less than 18 year old teen buying drugs online not wanting you fammily (well, parrents) knowing about it.

I believe i know what he means. Having your wealth at a bank account makes pretty sure that your relatives will get the money when you die for some reason. If you have a wallet at your pc then... thats a different thing. They have to know that you have the wallet, they need to know the password or private key. So you need to give these details to someone... otherwise your bitcoins will be lost for everyone. When you dont have someone you really trust you have a big problem since you dont want to log into your wallet one day and your coins are gone. Will you give the private key to a lawyer instead? If he is using it how will you prove it? And and and... Bitcoins have some problems one has to think about. Of course only if you care and dont want that your "riches" are landing in the rubbish or on ebay.

...isn't this what a testament is for ?!

Before you throw my junk away, see that cardboard box located at xyz. It holds instructions and a list of things that will be of interest to you and how to use them.

Problem solved.

I meant this
solution isn't so obvious as people think, if one thinks  about it  deeper
I struggle in my mind with idea that my 'I have to survive' philosophy is  best at this point 

If youre relatives arent worth your bitcoins then it would be good when you at least make some setup so that the coins are donated. It would be a pity when they are stranded useless on an address. You arent immortal and something can happen everytime.
If you write your private key on a letter and seal it, giving it to a lawyer or putting it into a bank safe will mean your wish will be taken but your relatives have the right for some of the money. I dont know if there is an automatic setup somehow that can send your coins to charity or so if you really dont want the coins to your relatives.

Look at M of N paper backups and devise a scheme from there.

Split the pieces among your family member and put a required piece in your will. None of them will be able to recreate the wallet and access the funds alone. Anyone who is able to access the will won't be able to recreate the wallet without the pieces from the family members. You can, of course, elaborate on this as much as you like.

dont worry send em to me  :D

nooo
send them to me :D

just kidding ;)
it's quite simple actually

just teach someone from your family how to use bitcoins and one day if you die he will be able to take over ;)

I don't know my family situation is rather complex.
but  definitely at some point I have to devise some way to pass my bitcoin
 what appeal to my is letter with  cold  storage, and testament
if price  not fall to zero in this  year I have to arrange something
anyway I am thinking about  this more and more since  my coins  grown on appreciation

upload your wallet data to multiple storage services online just to be safe, and lock them with a password

then in your will, leave a link and a password with your data

hope I helped :)

In this example, anyone who can access your will can access your bitcoins. I prefer M of N where you need multiple pieces of information (held by different people) in order to access the bitcoins.

Break up the keys and give them to multiple people. More money means more people to distribute the code. This means that any conspiracy to steal your wealth would require enough people such that the distribution of the ill-gotten gains are not individually worth it. Also, the more people that have a portion of the keys, the higher the probability that one or more of them would be unwilling to participate.

Distributing among people implements another risk. When one of these persons vanish or the piece of code is lost then everything is lost.

Just teach them how to sell your BTC and tell them how much they will get. They will be OH YES!!!

I wonder what rich person would think about allowing other persons partly access to his bank account. The same risks apply to bitcoins then. Cousin A and B steal the code from aunt C and... your coins are gone... but i guess you either can do it through the official way with a lawyer and paying death duty and spreading among persons you might dont like or risk the access with persons... at the end you have to trust someone regardless.

It's an interesting scenario, though. If bitcoin one day rules the financial world as the basket currency, then one day a rich businessman with a financial empire could die and lock a wallet that is crucial to an entire large corporation, with holdings in real estate, commodities, stock, bonds. Would that money just "dissapear", how would society deal with that?

teach them about it. So at least they can use it ;D ;D

hmm
so, let's try something else
reconfiguring the last proposals and fixing the bugs

1.create a new google account that no one knows about, set the security question to some mambo-jumbo so it can never be guessed
2.upload your wallet data to that google account with another text document describing how to use bitcoin or/and how to sell it
3.delete your browser history! this is important as someone might find your new e-mail adress, or he can simply log-in to your account
4.Leave a will with notes for 4 family members
5.leave a note to person no.1 saying "google docs"
6.leave a note to person no.2 saying "my_email@" but don't leave gmail after it so he needs to contact other family members for further info
7.leave a note to person no.3 with your password without any further info
8.leave a note to person no.4 saying "Note that family should stick together"


this is fucking genius, I admire myself :D

You should encrypt that document with another password otherwise google and of course the NSA can see right through it. Only a precaution since you never now how far they will go in 10 or 20 years. Maybe its not only terror or industry espionage but hunting down everything... because they can.

lol you are hilarious ;D =))

I think your best bet on how to deal with the possibility of losing your bitcoins would be to entrust the info to a trusted family member and teach them how to use it, and since you seem to be in good terms with your family, then I would say that you should do it as soon as possible, because you'll never know when something unpleasant will happen to you. I'm not in good terms with my family, so if I had a stash of bitcoins lying around then for sure I won't let them have it!  :D