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Author Topic: In event of your death  (Read 5593 times)
gabmen
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July 11, 2017, 10:21:51 AM
 #121

This is a great question, what will happen to our crypto assets when we ceased to exist. In our family, I am the only one who is having the passion about this cryptocurrency. Though I teach them the basic but the technicalities about the pvt keys, and several account in trading and some eth wallet are completely unknown to them. I think I would make an instruction or guidelines and put in a safe place and tell them to read and study. All this effort will go to waste if no one knows in our family.

Indeed. That's why i think its better if we can get more people to be interested in bitcoin so that if anything unwanted like that happens, it wouldn't be hard to explain to your loved ones what to do. We wouldn't want non-family members or people who aren't even close to ua getting evrything we've worked for in btc right? Especially if its a good amount that you've stored

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July 11, 2017, 10:36:10 AM
 #122

I did not even think about it, because it's too early. I think when this time comes to this, we will already develop some reliable way to transfer bitcoins after death.

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July 11, 2017, 10:38:55 AM
 #123

I hope you die after 10000 years. No, brother. You shouldn't think about death right now. Focus on your career and yourself. Rely on yourself. Believe in yourself. Trust yourself. I might have strayed too far from the actual topic. But if you read this, do what I said. And if you feel that death is nearby, write a will and give your fortune to your beloved ones.

I think OP is just being very pratical about it and would like to have a very clear cut approach if anything happens tomorrow . Its actually a very nice thing for preparing oneself for any things that happens tomorrow. SO in such scenario you should know your family member about the bitcoin or such things in which you deal and let them know how its is being traded etc. This will help even if you are out of town they can still trade on your behalf if you are involved in trading.


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July 11, 2017, 08:56:39 PM
 #124

hopefully my children will be independent and blessed enough to take care of themselves!
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July 11, 2017, 09:12:10 PM
 #125

This is a great question, what will happen to our crypto assets when we ceased to exist. In our family, I am the only one who is having the passion about this cryptocurrency. Though I teach them the basic but the technicalities about the pvt keys, and several account in trading and some eth wallet are completely unknown to them. I think I would make an instruction or guidelines and put in a safe place and tell them to read and study. All this effort will go to waste if no one knows in our family.
The good thing is that it does not have to be the case, the only problem is that not many people know what bitcoin is and that is why they may not take you seriously when you talk about the possibility of great wealth that could be lost if something happened to you, but at the end if they do not listen they are the ones that are going to lose and not you.

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July 11, 2017, 09:31:02 PM
 #126

I did not even think about it, because it's too early. I think when this time comes to this, we will already develop some reliable way to transfer bitcoins after death.

Me either, we don't know until when we will be alive. But we must not think about this situation because it only brings negativity to yourself. As myself, I will just teach them on how to cash out bitcoin and that's all. But it's up to them if they will learn on how to keep my bitcoins but we really can't tell on how this is going to happen.



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Rainbot
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July 12, 2017, 01:44:04 AM
 #127

I am wondering what provisions have you all made in case you die before cashing out your bitcoins? I am single, live alone and both my parents are deceased. My siblings dont care about any of this, however I would like my nieces and nephews to get some of my profits but they are still very young right now. I dont trust lawyers to give them my private keys. I am wondering, what can I do?



That is very easy. Before you die just in case make a letter. If that happens it will be delivered to one of your siblings. Tell them its a huge amount of money and explain everything on that letter on what they need to do. Or marry someone before everything's too late so it's much better that your children will inherit all of that profits.

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July 12, 2017, 01:52:05 AM
 #128

I am wondering what provisions have you all made in case you die before cashing out your bitcoins? I am single, live alone and both my parents are deceased. My siblings dont care about any of this, however I would like my nieces and nephews to get some of my profits but they are still very young right now. I dont trust lawyers to give them my private keys. I am wondering, what can I do?
It's pretty early to think of death. why do'nt you get married? You will have children The money you earn will be legally inherited by your children without fear of anything. If you are not married, you should make an estate divorce for your grandchild. When you die, the property will be theirs
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July 12, 2017, 01:58:15 AM
 #129

I am wondering what provisions have you all made in case you die before cashing out your bitcoins? I am single, live alone and both my parents are deceased. My siblings dont care about any of this, however I would like my nieces and nephews to get some of my profits but they are still very young right now. I dont trust lawyers to give them my private keys. I am wondering, what can I do?
I think you should make a savings book at the bank. The money you earn from bitcoin is sent to it. You just make a will to leave all the property for your two grandchildren, they will inherit the whole property without worrying about being raped. It's hard to leave your property as bitcoin, it's too small to understand bitcoin and manage it

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July 12, 2017, 02:09:35 AM
 #130

How bitcoin do you have ? why not give it to your son or daughter or maybe wife. ? I dont think lawyers has any knowledge about bitcoin, the first thing you should probably do is teach them whoever they are whether your nephew/niece or son/daughter is they need to have basic or the fundamental knowledge about bitcoin cause what if they get your money and just waste it by investing it into some cloud mining site or ponzi scheme then all your efforts in saving it will be all for nothing. I think while it's still early you make them get interested in bitcoin so that they know the pros and cons of this digital currency.

   
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July 13, 2017, 06:19:16 PM
 #131

Death is something that no one can avoid and no one will know when it will happen to us because only God can determine. Then before it comes we must do a very useful thing for the person we will leave behind. Of course we do not want if we died but there are problems left for the people we care about. By giving an understanding of the bitcoin how bitcoin is developed and the other it is one of the things we can inherit to the people we care about. So that someday they can live worthy even though we have left. Knowledge about technology should be applied to our children because bitcoin is a breakthrough on finance using the internet network. I think that's all the things we have to leave to the people we leave to our children and wives

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July 13, 2017, 06:57:33 PM
 #132

Maybe if you have a very good friend you can trust him/her, while your nephews grow up.
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July 13, 2017, 07:17:03 PM
 #133

I think you should make some hint so that people who you trust can find the way to use bitcoin as well as the private key. Nobody wants to lose their bitcoin forever even if he dies. Therefore, you should make some hint or give the private key to someone you trust the most. Bitcoin needs to be used and protect by both owners and who you trust


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wuvdoll
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July 13, 2017, 07:28:45 PM
 #134

I think you should make some hint so that people who you trust can find the way to use bitcoin as well as the private key. Nobody wants to lose their bitcoin forever even if he dies. Therefore, you should make some hint or give the private key to someone you trust the most. Bitcoin needs to be used and protect by both owners and who you trust
Not just hint, we must guide our family members like our children or grandchildren to take care of what ever assets we will be holding. It can be bitcoins or any physical assets too. For this reason my government always insist the importance of nominating someone for any financial activities. I believe my spouse and my children will take care of all my assets hopefully. 

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Silberman
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July 15, 2017, 09:47:13 PM
 #135

I did not even think about it, because it's too early. I think when this time comes to this, we will already develop some reliable way to transfer bitcoins after death.
I do not think this is the right approach it, we cannot expect things to just fix themselves, you never know when something may happen, so you need to be prepared if it does, bu while we are talking about bitcoin, people dying without leaving a will and not revealing the full size of their estate is not something rare, so we must be prepared in that case.

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HasHe
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July 20, 2017, 11:51:37 AM
 #136

I am wondering what provisions have you all made in case you die before cashing out your bitcoins? I am single, live alone and both my parents are deceased. My siblings dont care about any of this, however I would like my nieces and nephews to get some of my profits but they are still very young right now. I dont trust lawyers to give them my private keys. I am wondering, what can I do?
If you stage is critical,then it would be better if you sell your bitcoins and buy a property in the name of your siblings.That would be the right choice in such a critical situation.

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July 20, 2017, 11:55:14 AM
 #137

I do not know whether there will be bitcoin until I'm ready to die. I think it would be more appropriate to think about this issue, it is still too early. You still need to use coins for yourself.

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warrior333
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July 20, 2017, 11:56:06 AM
 #138

If your country is beneficial to engage in mining then maybe it makes sense to buy mining equipment and to leave a legacy machine mining money? This will not only generate income but also will force the heirs to learn what bitcoin is and to properly dispose of your legacy.

Silberman
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July 21, 2017, 09:58:43 PM
 #139

I did not even think about it, because it's too early. I think when this time comes to this, we will already develop some reliable way to transfer bitcoins after death.

Me either, we don't know until when we will be alive. But we must not think about this situation because it only brings negativity to yourself. As myself, I will just teach them on how to cash out bitcoin and that's all. But it's up to them if they will learn on how to keep my bitcoins but we really can't tell on how this is going to happen.
Personally I think it is important to teach them to keep the bitcoins, most of the time when someone gets money from a deceased familiar they spend it in something useless, so it is important to teach those that are going to receive our estate that when we pass away there are some things that is better to keep so they get even richer in the future, and one of those things is bitcoin.

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h1h2h3_c
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July 21, 2017, 10:02:57 PM
 #140

Stop thinking about it, dude! Live yor life and care not of anything, but your pleasure!
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