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You will want to be sure that your assets outside of your POD accounts are sufficient to cover your debts and any tax liability, otherwise your creditors (or the tax collector) may come after those who received the POD accounts, which can be unpleasant.
Which brings up some other points which is in a lot of places your debts die with you. Except for debt that is covered by real property. i.e. the $5000 someone owes Chase MasterCard will die with them. The $50000 they owe on the mortgage will stay attached to the property. Taxes will vary. But, in some places you can't transfer the property till the debt is paid so the property stays in the estate till the mortgage is paid off. [Side note of real life I had to deal with this along with a friend for a place in Arizona. What a pain.] In other parts of the world other debt might follow the estate. In others it all goes away as you are required more or less to have insurance to cover property debt. I think that is always going to be part of the problem too. BTC is world wide, how do you create a setup that will work in all the jurisdictions around the world and keep up with them as they change. And so on. Along with contested wills, and other potential things. Just because it can be done, does not mean it should be done. And then where do you draw the line? But, this is drifting a bit OT, it's not about the ramifications of the BTC transfer, but about the transfer itself. You can then use you wallet normally and when you die the executor hands over their words to the person getting the wallet who then would have complete access to it. And I'm asking why should there be an executor? We've designed a system in which we transact without having an intermediary, just like cash, but we need an executor to inherit? We don't. The system allows trustless inheritance. Your solution: Alice wants from Charlie to receive 1 BTC from her when she passes away. Thus, she creates a 2-of-2 multi-sig wallet, deposits the bitcoin and gives one key to Bob, the executor, and the other key to Charlie. When she dies, Bob gives his key to Charlie. Now, Charlie has access to the money. Flaw: Bob may not give the key for a million reasons. It's down to him if Charlie gets the money or not. ---------------------- My solution: Alice wants from Charlie to receive 1 BTC from her when she passes away. Thus, Charlie creates a wallet, gives her an invoice, she signs a transaction where she gives the bitcoin, but adds a condition that the transaction is valid after a specific time period. If she's alive after this period, they redo the process. If she's gone, Charlie can broadcast the transaction and get the money. It's important to note here, in a situation like this in many many many parts of the world you NEED to have human involvement. There has to be someone handling the estate you cannot (legally) just hand over money. You may need to state it officially that you're inheriting Alice's assets and therefore get taxed, but I find no reason to use an intermediary for that purpose. In most countries bitcoin is considered an unrealized gain, so you may not even need to state you're even inheriting it. Taxes usually have very little to do with it. It's is the person getting the money really entitled to it? We can disagree with the law(s) all we want. But for now in many parts of the world there are very strict rules covering how an estate is distributed. Going around them although doable and common even without BTC can cause and have caused years of legal issues for people if others choose to fight it. And I am going to say this and leave it alone, until you have had dealings with a contested will over an amount of money that is worth less then a cheap used car you have no idea of the shit storm that can happen over a bit of money.As for the executor not giving the person entitled to it the information needed. They could just as easily not had over cash accounts, or titles to property or a dozen other things. -Dave |
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Not sure I'd want to inherit my holdings to a person that I feel could try stealing my possessions. He may not want to, but accidentally lose them. He may get stolen. There are lots that can happen until you pass away if another person holds your private key. It's much better to just give them a signed transaction that is not yet valid instead. they are more then likely enough to be leaving their BTC to people who understand it enough to be able to use an X of Y multisig wallet with one of the keys not being released until after death. How does multi-sig helps the situation? I don't understand. The person who is supposed to get the BTC has 1 of the keys. The executor of the estate has another. The problem is it will always be a static address so you are probably better off with wallet seed words that are split between 2 people. You can then use you wallet normally and when you die the executor hands over their words to the person getting the wallet who then would have complete access to it. The other option is using a hardware wallet that you just imported seed words into with a pin. The recipient of the funds would have had the wallet file and the hardware wallet. The executor just hands over the pin. You don't even need an executor for this as there are many deadman send email services out there. It's important to note here, in a situation like this in many many many parts of the world you NEED to have human involvement. There has to be someone handling the estate you cannot (legally) just hand over money. That is the crux of it. I can leave Julie just about everything I want. BUT, I just can't have it automatically happen. There needs to be a will and an accounting of what is what. I had a friend who had to fly to a foreign country in the middle of the pandemic for a reading & acceptance of a will. Just handing over funds although doable will probably cause more grief then it's worth. -Dave |
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Makes you wonder with all the scams going on in the markets with fake tokens and projects and DeFi and everything else why bother 'stealing'
All you need are a bunch of state sponsored web people to put up a bunch of sites and then to promote them on twitter / facebook / wherever to get some hype and then let the money roll in. No hacking needed. You will have people just lining up to give you money. Would save a lot of time and effort.
I mean has anyone looked at the Token / AltCoin Announcements boards here lately? It really is a cesspool. And people are still lining up to give away their money.
-Dave
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I think part of the problem here is that the way I see it, it's an answer in search of a question.
And here is where I am going to get a ton of people yelling at me about about not your keys not your coins, but as of now I think that a lot of people who are concerned about leaving an inheritance in BTC are the same ones using custodial services like Coinbase. And for the ones that are not, they are more then likely enough to be leaving their BTC to people who understand it enough to be able to use an X of Y multisig wallet with one of the keys not being released until after death.
-Dave
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I wonder if they are going to try to build something for the 120V US market for small home / hobby miners.
It really is a wide open market at this point. With everything going high power 220V 20A miners I can really see having a lower power unit that even if it's not price competitive.
I think you could sell a bunch for people who want to have newer stuff at home as opposed to having to make 1 & 2 board S9 and similar to run quiet and at home.
-Dave
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I'm surprised about it, but I can't say that I'm disappointed to read about it. Though, this chart don't show significant drop, things is pretty much stable. Actually, there is more transactions made in December than in August or September. It would be interesting to see chart for longer period.
And I'm getting impression that BitPay is still first pick for moost merchants unfortunately. Maybe it's not very surprising, considering that BitPay have big budget for marketing, comparing with relatively small decentralised BTCPayServer.
I went on a mini rant here about some things: https://bitcointalk.org/index.php?topic=5380215.msg58988849#msg58988849But I really don't think it's because of BitPays advertising. It's because it allows merchants to take BTC and a few of the larger alts if they want and convert it into fiat in a quick and simple way. At the moment just about every business person is stressed to the max and they don't want to play around with exchanging BTC to fiat or anything else. They want to get paid and move on to the next thing they have to do. Yeah, BTCPay is great but if you don't have the time to convert to fiat and it's Friday and your staff wants to get paid and so on do you really want to deal with that. I actually see that with a merchant I use (namesilo.com). They take BTC direct and BitPay for BTC and some alts. The BTC rate was better for me as the customer if I use the BitPay option then direct. I am guessing that the BitPay fee was less then corporate figured the cost of doing it themselves was. -Dave |
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I am thinking that when they announced it, it was the only thing for a vehicle like that.
Now that there are many more electric pickups on the market and coming to the market it has to be better.
This has always been the issue with vehicles that are announced way ahead of time, by the time they get into production, years later it's no longer the latest and greatest since so much time has passed.
And, with something like this, and this is just my opinion, we don't know the real number of reservations. They just asked for $100 down, that really is throwaway money for a lot of people. With something like the F-150 being available in the next few months and the GM in a little over a year it puts Tesla in a hard position. Outside of the looks, which most people who are buying a pickup for work really don't care about, it's just another tool. And I think there are a lot of people who are missing that. I can point to 2 people who wanted one, because they wanted an electric pickup. They don't need the range, they don't care about the looks, it's a TOOL to get their ladders and saws and wood and pipes from point a to point b. For the most part even a 100 mile range is overkill. They don't need 3000lb of cargo 1/2 ton or 1 ton is more then enough. And so on. So when it was the only game in town they got a lot of hype and reservations. Now they might be seeing those numbers shrink as people go elsewhere.
Personally, and I think I am the only person on the planet who thinks this, I would love it if Hyundai made an electric Santa Cruz. Would sell my car and get one tomorrow.
Because that is what I need, a small electric pickup. I don't need larger. I need smaller. But, I do believe that I am a VERY small segment of the population.
-Dave
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I would support this. Sometimes it's just nice to have a location for little tidbits of information to be posted in one central location that may or may not be impotant to some people. But will get buried in some other locations due to the number of other topics. As an example I posted this over a year ago: https://bitcointalk.org/index.php?topic=5282613There are also a few other firewalls / brands that have vulnerabilities might be nice to have a forum to discuss things like that. Even if it's just to discuss things like the log4j vulnerability and if it will cause any issues for crypto clients / apps. -Dave |
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The list that IIrik11 gave is accurate. Since you are a new users the best advice we can give is "not your keys not your coins". Do your trades and take your money, do not leave your BTC or any crypto for that matter sitting out there on an exchange. Keep them in a wallet you control. You can also take a look here for discussions about many of the exchanges: https://bitcointalk.org/index.php?board=223.0-Dave |
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Yes it's the same in theory, I don't know how or how well the other devices do it. They *should* all work the same but as we all know should is not the same as do...
It would be a good idea to ask Trezor/Keystone developers if their Shamir Secret is compatible with Mycelium Entropy or not. Reason is that you have backup alternative option in case you lose Mycelium Entropy device, as I don't know what happens if you lose your device. It looks like Mycellium also had an interesting blockchain based card payment device and I never got a change of testing it and seeing how it works. Instead of using cryptocurrencies Mycelium card used some pegged digital tokens for payments. This could be a nice collectibles item now.  https://card.mycelium.com/Does not matter if you loose the entropy or not. It holds nothing. It plugs into USB and generated addresses on the fly as images you can print. Once you remove it from the USB and it looses power those addresses are gone. It was designed to give one off paper wallets or if you wanted more security multi-sig paper wallets but no storage of wallets. The cards as far as I know never made it into production, but I did not pay that much attention to them as it was not a product I was interested in. -Dave |
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Developing products is never a solo journey, and evaluating existing tech is always part of our practice. For this project, we started with evaluating various IP blocks (since we’re open to making a new ASIC), open-source miner firmware, and other system software offerings.
Hopefully it means there won't be any incident similar with "Antbleed backdoor" and miner can choose to remove any remote execution feature on the firmware. Since it's open source even if it's there it would be easy to see and remove. The biggest obstacle I see is that fact that there are a lot of people with a lot of time and money and effort already out there and they may not like new competition coming in. Would bitmain & others drop their price to the point of dumping just to keep new people out? -Dave |
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Sigh...
I think part of the problem is that there are several different conversations going on here and nobody seems to get the point that I have made elsewhere but am going to go ahead and do it one more time.
Lets start with the basics:
1) I use BTC and run my own nodes and deal with a lot of my own payments.
2) I use LN and run my own nodesand deal with a lot of my own payments.
3) I use altcoins other crypto and may or may or may not run my own nodes and may or may no deal with a lot of my own payments depending on the coin.
4) I am and we are for the most part here rare edge cases.
Over the last 5 or 6 years I have encouraged many merchants to accept BTC / crypto.
I have been successful a few times. Some went to Coinbase Commerce, some went to BitPay, some went to coinpayments.net and others I did a BTCPay server for.
As of now none of the BTCPay servers are active. They just did not want to deal with it.
Businesses are in the business of doing business. NOT worrying about payments. They have to take payments to do business and just about all of them want it quick and simple with NO or minimal interaction on their part.
So BTC / LTC / ETH / Lightning / Dave's itchy left testicle coin they don't give a shit. Because 99% of the time they just convert to fiat and move on.
People like us here, care about BTC.
If we want massive adoption, guess what most people will not give a flying fuck about bitcoin any more then Visa / Master Card / AMEX / Discover. It's a means to an end for most people to conduct commerce.
What we talk about here about holding and invest or just save or convert to fiat are the rare edge cases.
There are several large businesses you can read about in the press section of this board that are now accepting BTC / crypto.
They all are using 3rd party processors and they all are getting fiat. Do you think they are about BTC / LTC / ETH / Lightning / Dave's itchy left testicle coin? No they don't they just want their fiat. and don't care how it gets to them.
Stop giving people FUD to talk about and push for acceptance of all of it. The rest will take care of itself.
-Dave
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How easy is it to use BTC in Turkey? It's really great of you can put a lot of you money into something that is going to protect you against inflation.
It's just about pointless if you can't convert it back or spend it.
I don't know how it is over there, I know that here in the US with a little work I can do just about anything with BTC / crypto and if I am in a hurry and willing to take a bit of a hit I can always get it converted back to fiat. I also know in other parts of the world it's not that easy.
-Dave
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If this has been discussed somewhere else point me to the thread, I did a quick search and did not find it anywhere.
So now that there are approved apps to bet with here in NY has anyone changed where / how they bet?
I know some people will move books based on small odds differences, just wondering if anyone here has made a change.
Personally, I have not. I like where I wager now and they are not in New York yet, although they say they want to be by the middle of the year. No idea if it will actually happen.
-Dave
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It's not just Quora. There are a lot of online discussions that are anti-bitcoin / crypto.
You see it pop up a lot in the Yahoo finance discussions, and a lot in other financial places.
Look for where and I hate to generalize but, older more conservative people are on the internet.
New things scare them, they don't understand and they don't want to understand so it becomes an echo chamber of what they were taught decades ago and that is all they will ever know.
-Dave
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Why why why do businesses keep adding things to security devices?
Did you stop using your credit cards or did you notice any major change or security issue with them since they added NFC support? You can't even control that in your credit card, and I think hardware wallet could offer a way to turn it off if you don't want to use it. Let's wait and see if NFC will be the thing to destroy ColdCard... oh how I wish that ledger added NFC first  No, but if my Chase Visa gets compromised and someone runs up thousands of dollars in charges it's not my problem beyond making a phone call and letting them know about it. A cold card is not a credit card, it's a security device. They added something to it to make it more convenient to use. Same as the camera on the passport. The odds of either being compromised are very very very....add many more very small. But they are not zero. And you don't need it. You need a screen. You need a way to input information. That's it. Once again IMO your views might vary. -Dave |
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IMO it's due to competition from other places and the resurgence of online / low cost and fee banks.
This happened before about 20 years ago when online only banks started popping up and the old school full service banks slowly started to change their ways to compete.
Then 2008 happened. Over the last 13 years or so the fees & charges have come back and risen and we are seeing other online banking solutions and other products come into existence like cashapp and such. This is just the banks changing again to compete.
BTC and crypto are playing a part in this, but it's just a part. Same way MC and others are getting in processing BTC and crypto. We might not like big banks, or these huge companies, but they are not all universally stupid. They know what they have to do to survive.
-Dave
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Why why why do businesses keep adding things to security devices?
Yes I like the idea of a camera or nfc or other stuff. Give me the option of buying something without it.
I don't want any way of communicating that is not needed.
It's just another point of vulnerability.
Can a camera be hacked? Probably not. Can the controller chip in the camera that talks to the rest of the device be hacked to display something other then what is there. Yes.
Can we trust NFC? To a point. Even with the antenna wire cut, is it still there as some other thing that may have a vulnerability? Yes.
-Dave
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On the other hand, I don't think that they are "slowly dying", since they've stroke some deals last year, like this one with Wix and this one with Verifone. I would have been expecting though that these would start getting in effect/be visible on those charts, but on the other hand big companies are not so much in a hurry to implement new things. But it also can be perceived that BitPay losing their market share on payment processor/gateway, so they decide to focus on enterprise business solution. We don't know those are included / will be included in the charts. For marketing reasons I can see them putting them in. For contractual reasons, I can see a company like Verifone wanting that hidden a bit so they can use the numbers the wat they want. What's interesting about this chart is how they posted transactions from other wallets. I don't know how exactly they know that Ledger wallet or any other wallet from that chart is used in specific transactions, but it's nice to see ledger on the very bottom with AtomicWallet. -snip- The user must select a wallet before being able to choose the cryptocurrency they want to pay with. See here[1]. [1] https://support.bitpay.com/hc/en-us/articles/115005559826-How-do-I-pay-a-BitPay-invoice-There is also always the 'other' option. It's more of a they just open the wallet and pass through the data in the way the wallet wants. I think it's pointless and a bit intrusive but I guess their marketing people don't. Without knowing what the other processors are doing, it's kind of tough to get a clear reading. Have they grabbed some of BitPays business or they all down? -Dave |
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