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Author Topic: How would you give someone access to your wallets when you are dead?  (Read 1350 times)
coynedterm
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May 21, 2017, 07:10:39 AM
 #21

Let's just say that you have got your bitcoins on a ledger wallet or stored somewhere else. What are the best possibilities to let other people have access to them when something unfortunate happens?

I am looking for an idea but I don't just want to give easy access, they have to work for it like a puzzle. How would you do that?
I think you should just made backup and save private key of your wallet where you store your Bitcoin  and then save that at that place where no one can easily reach .
But be careful , told about this to your family that after anything that got bad with you than he should use this for the use in the future for the earning or directly sell ( if he didn't want to do something with the Bitcoin ) .
In this way you can save your money for lifetime even after your death your family member will be able to access your money .
Here second idea also wondering in my kind that , make a question keyword for the password of your wallet and that no one can access easily ( suppose any incident that happen with your son or daughter , and that thing only you and your one knows about it ) .

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Przemax
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May 21, 2017, 07:12:42 AM
 #22

You should just include all of the information in a private letter as your testimony.

The letter should include keys, memory storage, passwords and possible instruction how to use the wallett and to keep it safe. To be secured use two letters in case something happens to the first one.

There is another option. If you are going to freeze yourself before death, maybe someone will be able to revive you and torture you chemicly so you tell, about every wallett you ever had.
lighpulsar07
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May 21, 2017, 08:46:49 AM
 #23

nice question.

well i didn't think about that because i am only 20 and i know many things will happen throughout my life. but if i am dying i will write the private key of my wallet and the instructions to claim the bitcoins in my wallet and store it in safety deposit box or i forgot to wrote an instruction to claim it well, i will tell my lawyer the instructions to claim the bitcoin
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May 21, 2017, 09:14:31 AM
 #24

Actually, it shouldn't be hard.  Most people leave a will where they tell people what they're going to give away and to whom.

All that you have to do is explain in a digital will or something exactly what Bitcoin is, why it's valuable, and where to find your paper wallet.

I would keep savings in a paper wallet stored in a safe underground or somewhere else hidden and completely under my control, so that my family members could access it as soon as I tell them where it is in my will.  You don't need them to know where your paper wallet is until you're dead.

hatshepsut93
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May 21, 2017, 10:13:11 AM
 #25

If you are really paranoid and don't trust anyone, you can create a deadman's switch by writing a program that will release your private keys to appointed person(s) if you will fail to enter your secret phrase during some time window. For example, you can set it up to require entering your phrase once a year to prove that you are alive, so even if you'll get sick/lose access to your device for some time, you will still have time to reset timer. Maybe it will be possible to create such mechanism on blockchain with some smart contract.
DoublerHunter
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May 21, 2017, 10:21:12 AM
 #26

Before i die, i will put my bitcoins in one paper wallet and i will explain it to my wife or to my children even since we are together so i will be comfortable and feel safe if the problems will come because they already know how to get the money there and use it when they need it. It is like insurance but a little bit secure and cheap because paper wallet is not expensive.
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