Bitcoin Forum

I am in mid 20's and holding and accumulating as much BTC as I can. I try to save a small amount of bitcoins every month so that I can do something with it when I retire.
But what if something unfortunate happens to me. What should I do 'now' so that the coins can be used for a good purpose in the future by the right person.
I know I can hide the instructions to the private key for somebody to take it in the future. But my question is whom should I give it to ?

I do not want to give it to my relatives or children since I want them to earn on their own and never depend on others money.
I know I can donate it to charity but what's the guarantee that the money will be gone into good hands and will be used for the right purpose ?

Are there any options that you guys think of ? Have you guys thought about such a scenario ?


Edit 1:
This guy deserves some merits. This is the best answer I have read in all the posts. What's the best I can do with my bitcoins ?
Bitcoin is open source so why the hell not donate the money to the open source community itself.


Second best option is to use the money for family medications in the future. May be using the money for health insurance of my family or creating a will to use the money when my family is in need of medications.

You are the only one who can answer that.

You know your relatives more than us.
You know what's your situation more than us.
You know what's the best thing to do more than us.

And don't be too negative that some unfortunate will happen to you. Yes, I know you are just preparing for the worst-case scenario, but hey, you are just in the mid-20s, enjoy life.

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Yes, but we do have different preferences.

I'm really not sure why you wouldn't want your children to have money to fall unto in times of need, but iff you actually trust your children or other inner family members but you still wouldn't want them to be the future heir of your bitcoin, you can do the written-instructions-in-a-safe method and simply instruct them to donate the bitcoin to a certain or multiple charities. Unfortunately there wouldn't be guarantees that they will do as asked, but come on put a little bit of trust unto your children. :P

You can donate to any FOSS foundation that takes bitcoin if you prefer that.

The reason  of not giving it to your children is best known by you, I will advise you to give your parent the required information, at least they had put their resources on you to get to this stage

If you can also get a good charity organization to donate it to those are the options that I feel you can use

Man if one of my parents had a bunch of money they could leave me in their will but didn't because they want me to earn my own money I'd be so pissed, why would you want your children to suffer the same shit you probably did? what if they don't get the same opportunities you did and have to be a slave to some shitty employer for a pittance?

I am close to your age, and it's definitely not the age to worry about dying, even though it is often coming to mind. Firstly, if you're accumulating your BTC, you should have a plan for them. Simply accumulating them seems useless to me, because they are worth nothing if you never spend them, right? As for the question about who should receive the money, mine would go to my spouse and children. You're saying kids should learn how to earn their own money, but I don't think it's fair. It's natural to help children find direction, profession, job and support them financially until some time, at least, so that they have resources to educate themselves/do an internship/volunteer before finding a well-paying job.

Few questions for you. Are you saving your bitcoin for someone else other than you utilizing it? Like you said you are in your mid twenties and have a lost of years ahead of you if all this be equal, I sure advice you to live an enjoyable life at your present age and still save for the future

So you want someone to inherit your bitcoins,but this someone shouldn't be a charity organization or your children.This is a pretty strange question.My answer is...Just don't save any bitcoins.Maybe talk with a layer about your wish,but I don't think that a layer will help you.

I would have suggested you to donate it to  a charity (there are legit charity that puts your money into good use), but since you don't trust any charity and don't want to give it to your children or relatives, then I would suggest you to spend it. Enjoy your life with those coins (I am assuming you have a lot). Spend it all on yourself and trust me you won't regret it.

OP, you are so young, the chances you die soon should be very very low.
Wait some more years until you'll have your family and then the decision (and methods) should come easier. Or maybe then you'll just spend them all and retire early.

You are so young, why do you think about that? By the way such question asked someone to Ognasty because he was holding a lot, really a lot of bitcoins and he stated his plan (leaving instructions to two people for finding private keys, don't know in details what was his plan and seems can't find that post).
Usually it's better to do kind job while you are alive, there is no need to make transaction and donate somewhere, you can go out in street and find/help to really poor people and not those who are fakes.

To someone’s who deserves it most Your Family

Who told you that this can be called as depending when they don’t expect things happens to you and you can dot this with options,you can hire a lawyer to hold everything until you die so the amount will come to your love ones?be reasonable and why need to look for another option when the most deserving lies on your house
If you can’t trust even Your family to be deserving the whom you can trust for?
The option must come from you ,and not from random people like us

You can keep them for future sell and get more profit, it is always good to hold some btc for long term because in the end you will benefit more by doing so, but you need to store your btc in a safe place like an offline wallet to be more secured.

You are thinking too much although you are correct that we may not know what's going to happen to us. But what I did is I told it to my parents already and if you don't want to tell it to them and enjoy the money you have then simply marry for the next years.

And enjoy the money together with your wife. But you should really include your children with that, don't let them experience on how hard it is to earn money when they grow up. It's the best feeling that you are enjoying it together and seeing your children growing up without difficulty while teaching them the lessons of life.

Giving it to your children doesn't mean that they won't earn their own money, you can ask for the instructions to be given to your children when they reach a certain age. Your children will earn their own money if they don't know about it.

Hehehehehe...….. Indeed you will definitely put his Bitcoin into good use. But on a serious note, In as much that you are saving in Bitcoin, you should try investing into projects or assets that can be somehow beneficiary to your family.

I think it's good that you will give to to your relatives or children and teach them to invest it and it is the possible way that we can do. Sometimes it is hard to trust other people what if they use that bitcoin for non sense thing because they don't have any idea on how to make profit with it. So I think for you now that as early as you can teach them to invest with cryptos.

I'm just wondering. Why don't you want it to give to your relatives? They could still earn on their own. It's not like the btc you will give them will support them forever given that there are so many things needed in this life in order to survive. I think the reason why we work (whether here in this community or outside) is because we want to have a good life for our family and we want to give them what they need. Don't you think they are the right persons? I'm just asking, though. And whatever your decision is, I respect that.

Almost same condition and same question with me  :D :D :D. What do i do with my btc? My wife and and my sons(4 year) dont understand about crypto. What if i die before i give instruction to use my bitcoin? it seems will be time and history treasures. This is not only with btc, but also with my all of digital asset.

1. I print instruction in a letter, i also publish in my blog but encrypted with family passwords. Instruction to open, withdraw and use it
2. I give it to my wife, and also my sons. in this case he don't understand anything, i give instruction to him to open the case when his age become 13 years old.
3. Since the begining, i train my son to become entrepreur. I train him to sell something to me, and i will give him reward. Whe his age is 13, and i still alive i will revise his age in my treasure box.



when you decide to donate, i guest you already research the charity right?
1. If you can make a charity organization by yourself, so build it and you can trust it.
2. If you can not build charity organization, you can donate to other charity. Choose the best charity, you are not responsible with what happened after you give charity. What they did with your donation become their responsibility. If you believe with god, god will put your good intention and also put your bad intention

Though I'm sure she's forgotten how I left my instructions with my dear old ma who's the only person I properly trust. Other relatives may have hidden drug problems or second families that need funding. I've seen enough siblings fuck each over when it comes to money, let alone slightly more distant relatives.

If I was unfortunate enough to have children I'd have no problem leaving the lot to them. If they're brought up right I see no reason why an injection of money would ruin their lives. It would give them a nice wee cushion to pursue things they otherwise might not have been able to.

Other than that I would leave it to a cause that I believe in. And I'd make sure it was properly run. Nothing would annoy me more than my money going to fund some charity CEO's pension.

What do you truly care about?

if you still young, you can give to your parents for his retire.
What if you die and then parents die so who is owner of treasure? It become your family, brother and sisters.

I dont believe with my family and also not like if they used it? I am not sincere with my family.
owh, so you are one of the bad stingy persons then.

Actually you are not responsible with what happened after you give to them. What they did with your treasure become their responsibility. If you believe with god, god will put your good intention and also put your bad intention

If you still not believe anything, and think no one can believe in the world. So change your word of RIP (Rest in peace) to RIC (Rest in confuse)

Write a will and give a message to the notary, lawyer, or another authorized person, I think that's the safest way. Because you don't want to make your family overly dependent and can make your own money.
It is better if you also introduce cryptocurrency to your family, for example, your wife/children so they can also use and learn to earn money from here. It gives a sense of security because when you leave your cryptocurrency assets as an inheritance, there are family members who can use it well.

Pretty great wise moves decision, but nake sure that bitcoin keep as your saving share it the private key for your trusted loves once or specially in your wife if you are married, so if ever have bad scenario for your life the bitcoin saving you have can use for your medication or what sp ever purposes.

That would be the best choice if he felt a threat to his life but this is unlikely to happen and I know OP just want to prepare for the worst case scenario. There is a services in the internet where you set a time to notify once in a while if you were alive or not but once you are inactive the system will automatically sent a message that you set to someone that you want to read your message. Sadly, i forgot the site, although they require some service fee but I assure you it is worth it.

When you give it to someone in need you'll get satisfaction, and this needs to be done by you. If someone does it for you, surely you won't get fulfilled. From the opening post I can find your mind getting fluttered. You've been saving a small amount in terms of bitcoin to help in the future. For that why don't you help every month for someone with the amount being spend on buying bitcoins.

Anyone next to us can't be believed, possibly when days pass we'll get more advancement in technology through which we can register the transaction to reach specific wallet after one's death or after specific time period mentioned by the person or we can integrate the procedure of nominating someone for the funds.

Figure out where you'd like your money to go to. Maybe have a read: https://www.effectivealtruism.org/articles/introduction-to-effective-altruism/

Once you have decided, if you can't trust your family or friends, find a good lawyer and arrange for a dead man's switch to be set up which will ensure the money is spent according to your will.

Make sure that your kids future is already secure or if you really don't want them to have something from your money at least let them finish their studies with it .
Make some plan for them then if there is some crypto left donate it to some charity that helps the homeless or a people that you know who really helps the needy one's .
The only thing that I want for my crypto is to be used by my family since I earned it for them and to secure that they have a home and have a bright future.

Use you bitcoin become your source income by investing in some altcoin or you can trade your bitcoin become other altcoin, better take your bitcoin sell on higher price and re investing after price is down.

It is strange that you don't want to give any of your coins to your relatives on the event of your death. Depending on others money is not good, but sometimes emergencies can occur and people will be left with very few choices. I myself lost my cousin sister to a medical condition around two decades ago, as her family was unable to afford the expenses. So I know how hard pressed people can get. But you are still in 20s and as you grow older your decisions will also change.

Another important thing is regarding the wallet backup. In case something happens to you all of a sudden, and if you haven't stored the wallet backup anywhere, then all the coins will be lost. It is a very tricky situation. Even I haven't created a backup for my wallet outside the online space. I don't want to trust anyone (not even my family members) and therefore it is risky for me to store the backup in hard copy format. But then, if something happens to me then those coins will be lost forever.

You could probably start giving charity foundation now. You might not have to wait till you are really old.

You are in mid 20's so you are still young. There are a lot of things that can happen to you within the next years.

Think again, maybe time will come and your mind will change that you want to give a share to your children someday.

Altcoin holders are selling their alts for bitcoin.

I'd rather keep it to be honest.

You are still young, don't think about the bad things that might happen to you. But you can choose one of your trust person to hide the money and only give that money to the right person by selecting your beloved person so you can make sure that the money is in the right person. Maybe you can hire a lawyer who will hold the funds until the right time comes to give the money to the right person. I see some rich people do this with their lawyer, and they will remain silent until the owner of the funds has died so they can give the money to the right person. Only you will know who the person that should receive the money is.

Yeah you are probably right. Not everybody gets the same opportunities. I am glad my parents educated us enough that I am writing this post today.
I consider this a big deal. So yeah, I will make sure I give my children better opportunities than myself so that they can create a better future for themselves. And I am not at all worried about dying since it has to happen at some time, I am just preparing for that time well in advance because you never know what tomorrow might bring us.

You have to do this in the beginning not afterwards.

Open your wallet take a piece of paper and pencil and write down the seed words. This is the ONLY backup that matters, and you should do this from a secured OS/PC.

Once you have this paper with those 12 inconspicuous words written on it, you get yet another paper and with your own hands copy them, those two papers should be stored away in separate and secure places, it can even be a bank vault with instructions etc.

Get this done now. Nothing you do "online" is important, don't bother with "backups" or passwords, only these words matter, and yes, you have to protect them, don't tell anyone what they really are (leave a written will), you could even hide them cleverly inside something else (a book or such).

You do not wait for later, this has to be done FIRST, before sending the first satoshi to it.

This is an offline "cold" wallet that should be used for lifetime savings, you can send all the funds you want to it, and nobody can touch them as long as you keep those papers with written words safe.

Since you don’t wanna give to your family and your also hesitant in donating in charity so I think the best way is “Give it as to Us?” Lol 😂

Kidding aside for me it’s your family and love ones who deserves to have all of your hard earned cryptocurrency..because you are providing for them and not for anyone’s else

You probably don't have children yet otherwise you will understand the importance of leaving some inheritances (not necessarily money) for the family.
It is VERY important to help those who need help, so i must commend you for that one but it'll be kind of hypocrital to give EVERYTHING to others who need help while neglecting the family. Charity they say begins at home.
By the way, when giving, give in secret not in public. The reward of giving in secret/anonymously comes from our CREATOR.

you either sell it or keep it. Its that situation right now when you can't do much

Go to the universities, look for and listen to those students who need money to carry out their projects, but not just any project, look for those in medicine and engineering who want to change the world, those who are about to discover the cure for cancer, Hiv, look for those who never give up.

I think you should give your family and your children alive, first and foremost, they have always been there for you in some way, you cannot deny your fortune to your children, my son would not be able to deny such a thing if he obtained it, on the contrary, I would teach him about business, I would give him a Non-Corrupted education like the current one, where they are taught only to go for the safe, and that is why the poor are getting poorer, because they do not take risks and choose the safe and if it is safe to be poor, the system induces them to it.  I want to reach the level of having so much money and assuring the life of my family and son to dedicate myself to what I really like that is development, to make a machine that can cure every person sick from any incurable disease ... look for people who They want to contribute not only to where they live and what they studied, to contribute to the world.

Hold them and wait for the surge in the price. After the next highs spread the investment to lower the risk of bitcoin going down again.