"We've done promissory notes for your means of exchange, promissory notes for your gold and now we have promissory notes for your Bitcoin."
Is that a good thing? or not?
Is there anything that can be done about it?
People (and institutions) coming to bitcoin, whether we like it, want it or not, no?
Bitcoin is for everyone, right? Even if we don't like some of them.
We should not necessarily presume that people are going to necessarily want to pass down their wealth, even though they might not mind having extra wealth at the time of their death because no one can really know how long that they are going to live and a lot of folks fear outliving their wealth... so there can be quite a few comforts that come from being able to at least not being extremely worried about money in your old age... sure maybe there are going to be some discomforts with greater than expected needs for budgeting, but the restrictions in the amount spent might not end up being overly taxing on the person's comfort if they might have already accounted for the possibility that they would not be earning income from work after a certain point in their lives.
It's true that nobody knows how long they will live and some people worry about running out of money, but we should also think about the good things that can come from passing down money to our children and grandchildren.
Now you are trying to moralize, and not everyone believes it is a good idea to pass too much money onto children/grandchildren merely because they are blood relatives... but sure it is possible to train them into some kind of responsibility so that they do good rather than just engage in sloth or consume the hookers, lambo and blow that you should have consumed while living.
Some people have the nature they keep the money safe and never give to anyone until they die.
With bitcoin it might not be the same problem, especially if we just might die with our coins then it is like giving to all then HODLers.
Let suppose a person have invested in Bitcoin and h/s suddenly gets die and no one knows about his/her investing. So where these will be gone?
If the coins are truely not recoverable, then in bitcoin it increases the value of the remaining coins.
In conclusion an old person who has the money so h/s should give money to their childrens who know better where to invest.
You are moralizing.. .. sure if that is what he wants to do, then surely it is best to carry out his intent, but if he does not want to give to his children, then that is a possible choice too...
There could be some situations in which a person is being irresponsible by not taking care of his family, yet I would not presume that to be the case without further facts.
It's normal to worry about running out of money as we get older. But we shouldn't ignore the good things that can come from giving money to our family. It can make us feel safe, leave a lasting memory of us, and help us when unexpected things happen. So, it's reasonable and smart to think about passing down our money.
Some people might agree with you, but it is not automatically that people will think about their family or their obligations the same as you are thinking... and bitcoin might allow them to choose to withhold their coins from being passed down or maybe they choose to send them to some non-family member or have some kind of a time lock on their coins.
uthor=philipma1957 link=topic=178336.msg63582473#msg63582473 date=1706588179]
I have no one to give my money to. I likely will give it to two children that were adopted iby my wife’s first cousin. They could use a nice surprise one day.
You have your own mind. If you have planned to give to anyone so that's great.
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I suspect that there are likely going to be a lot of guys who might have decently good intentions to pass on their coins, but they do not get around to putting a decently good plan in place in order to communicate the location of (and also the ways to access) all of their coins.. so maybe they leave instructions for some, but not for others... In the coming years, the access (keys) to more and more coins are going to be lost...and thus donated to the whole of the then bitcoin holders by default.
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