What would happen to your BTC and Alts if you died today?

[TastyChillySauce00]

My privkey is shared with my family members, mean it's okay if there's something happened to me. Though they don't really know what to do to it but I'm sure by the time being, they'll figure out how to use the privkey and use the money inside, yeah, the power of money will increase your will even you'll be struggling, that's natural law.

[SHAWN-MIDWAYS]

probably my bitcoins and altcoins would die with me

unless they figure out the private keys i have written down or try to out smart themselves to figure out where my bookmarks leads them to...all else its a lost tresure

[DoublerHunter]

probably my bitcoins and altcoins would die with me

unless they figure out the private keys i have written down or try to out smart themselves to figure out where my bookmarks leads them to...all else its a lost tresure

I think before you die, you should share your private keys to the person that you are close with or to the people that you trust like your family or to your friends. It is just a waste for you if you don't share your private keys before you die because all your hard earned bitcoins or altcoins or money were just be wasted in just a single event.

[pfrtlpfmpf]

My wife knows, there are about a thousand handbags, or shoes, to get. I have it all on paper for her. And, she will finally learn who google is  
It´s a shame she can´t do that before i´m gone.

[pfrtlpfmpf]

This is a really good thread, because it kicked me in the ass, to print out my private keys (no bluetooth printer, just cable), and hide it in our secret places.
3 copys, i mean, how stupid would that be ? Thank you all, for giving me the nudge !

[invo]

My wife knows, there are about a thousand handbags, or shoes, to get. I have it all on paper for her. And, she will finally learn who google is  
It´s a shame she can´t do that before i´m gone.

thats good when you give all your work details to your loved ones. but what if you didnt share it to anyone or you just simply hiding it to anyone? i guess your account would be nothing, a trash that no one will claim, there is no one can use it the way they want.

[dihari]

I will be honest, I have the same condition with op. Even I tell my wife slowly and everyday, she never can get it. She know bitcoin, but she can't use it. And there is just one way to make my btc useful if I die, I give her all my passwords and get she knows where's my bitcoin stored. Because I beleive if she can't use it, she will find somebody to use it for her.

[PremiumCodeX]

If I died, my coins could be considered "burned" and therefore help the volume, I guess lol. Contributing to community even in afterlife.

Now that I think of it, I could set up a script, that sends a part of it to my loved ones, in case I do not use the wallets for an amount of time.

[iqlimasyadiqa]

I have given all the accounts I have to my family. And I've also told you how to earn money from bitcoin.
This is a tough task, but I want to stay alive until all my family is happy.

[pfrtlpfmpf]

I will be honest, I have the same condition with op. Even I tell my wife slowly and everyday, she never can get it. She know bitcoin, but she can't use it. And there is just one way to make my btc useful if I die, I give her all my passwords and get she knows where's my bitcoin stored. Because I beleive if she can't use it, she will find somebody to use it for her.

I just hope, she´ll not find somebody to use it for her before i´m gone  

[pfrtlpfmpf]

Ok, i just told her: download and open any NEM Wallet, any password, just import all my 4 private keys (on paper, written down 3 times, for sure), then go to any exchange, buy bitcoin, and cash out somewhere. And be bitcoin-king. But still, somehow, it´s not going to happen. Can´t make it any easier . . .

Well, i can do that now for her, but then i would be out of NEM, which i consider a big mistake, let´s hope i won´t have a heartattack tomorrow. Think positive 

[LFC_Bitcoin]

I've told my girlfriend my wallet passphrase & given her the contact number of a localbitcoins trader that I trust so she'd be able to get access to the bitcoin's I have.

She'd probably sell them all to the guy I know probably & he'd get a fee for helping her.

[ice18]

I have a few btc and some altcoins stored in different wallets but if ever I die in an unexpected situation I'm sure my finally won't be able to recover it coz they don't know everything what I'm doing with bitcoins that is why my plan is to list all my password/keys/seeds  to my coins and stored it in my email and to my wife with encrypted passwords..

[Slark]

Since my family is totally neglecting bitcoin and doesn't even understand the concept behind this technology I never bothered to fully explain it to them.
In case of my sudden death I am afraid that my coins might be lost forever. I would be a classic donation, for everyone else using bitcoin, making your coins worth slightly more.

Actually this thread made me think that I want to create some sort of contingency plan. I probably leave a note about BTC somewhere...

[pfrtlpfmpf]

Since my family is totally neglecting bitcoin and doesn't even understand the concept behind this technology I never bothered to fully explain it to them.
In case of my sudden death I am afraid that my coins might be lost forever. I would be a classic donation, for everyone else using bitcoin, making your coins worth slightly more.

Actually this thread made me think that I want to create some sort of contingency plan. I probably leave a note about BTC somewhere...

Yeah, we are doing something good, at least, taking those coins off the table. Deflation, guys !

This thread is worth millions and millions, thanks to OP !

[dothebeats]

They will be lost forever in the void. I don't really share much information to my family or friends about my holdings in bitcoins and other alts but if they know me so well, they would know where would I hide all of those stuff that I do online. Also, little by little I'm telling my younger brothers about bitcoin, which probably is the best move if in case something happens to me since they would know what their older brother is doing would actually mean more as time passes.

[Red-Apple]

Since my family is totally neglecting bitcoin and doesn't even understand the concept behind this technology I never bothered to fully explain it to them.
In case of my sudden death I am afraid that my coins might be lost forever. I would be a classic donation, for everyone else using bitcoin, making your coins worth slightly more.

Actually this thread made me think that I want to create some sort of contingency plan. I probably leave a note about BTC somewhere...

make a transaction with a locktime of many years in the future and make a donation to someone you know (can be family members) or it can be one of these big charities accepting donation and sign and publish it to the public so in case of sudden death the coins don't go to waste!
the transaction (because of locktime) can not be mined (redeemed) until the time comes. just make sure to spend the funds if the deadline is near and nothing has happened to you yet

[iram3130]

As my wife is a better trader and knows more coins than me, I don't have any worries about my bitcoins or altcoins. She'll take care of them nicely and will make good profit from them. It's the other way around too, we know all our financial things.

[babysweetTiger0401]

I have accumulated some Bitcoin and other alts. Most of my holdings are in a single wallet yet I have a few on different platforms and one left on an exchange. I have tried to explain this to my spouse yet there is not a full understanding. If I died I am confident that all of this would not be recovered.

This weeks project is to write an encrypted note detailing where are the holdings are and how to access them. Even with access, the knowledge is not there to be able to convert the holdings to fiat if necessary.

What is your situation ?



*Edit* I have added "today" to the subject line of the post because we are all going to die.

Many people responded stating that if they knew they were going to die soon or when they are 60 etc.  they would.... You do not know when you are going to die! I had a serious accident not too long ago that almost killed me and I am not old, not even what I would call middle aged.

Many people also said they have hardware wallets, paper wallets ... Do you have backups outside of your home ?

                            My Solution
I have all of my seed phrases, 2fa restoration numbers and passwords saved in Google Drive. Google, although I hate them, will be around forever. I have saved this in the cloud because if my house were to burn down, everything would be lost. Now I am not confident in the security of Google Drive so it is in a folder that is encrypted with Cryptomator. This is an open source program that works with both Drive and Dropbox.I am also going to make a video showing how to restore the wallet using the seed phrase and also how to restore the 2fa to the google authenticate. Along with a detailed list on what coins I have and where they are located. This list I will update each time I purchase a new coin.

I have accumulated some Bitcoin and other alts. Most of my holdings are in a single wallet yet I have a few on different platforms and one left on an exchange. I have tried to explain this to my spouse yet there is not a full understanding. If I died I am confident that all of this would not be recovered.
- this is totally true, if any of your loved ones doesn't know everything about in bitcoin, all your accumulated bitcoin and altcoins will be stock only to their wallets. But if your loved ones knows the procedure to encash it there will be no problem at all for sure.

[Clement Kaliyar]

If i die today which is highly unlikely i will loose some of the coins but i have written everything in details and have already informed my wife about what i am doing online and she already knows about bitcoin.But i have written a detailed note on how to recover the private keys and stuffs like that,just in case something happens to me.