In event of your death

[deepcolderwallet]

Write down your wallet's seed hidden in a book. Show the book cover and those twelve words to your siblings, explain them how to re-create a wallet with these words. Show them how to find the book in your shelf. Don't involve lawyers or anybody strange to your family.

[1714055017]

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[1714055017]

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[Netnox]

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 am also facing the same situation. I am not married, and my parents are not tech savvy enough to understand the technology behind Bitcoin. I haven't shared my private keys or wallet backups with anyone, as I am afraid that they will double-cross me and steal my coins. What should I do to make sure that my coins don't go waste?

[hovrah]

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 am also facing the same situation. I am not married, and my parents are not tech savvy enough to understand the technology behind Bitcoin. I haven't shared my private keys or wallet backups with anyone, as I am afraid that they will double-cross me and steal my coins. What should I do to make sure that my coins don't go waste?

This is a very difficult situation and just can not cope with it. If no one trusts anyone, it will not work. You put yourself in a bad position with your distrust. Inheritance must be made unambiguously. And teach the heirs in advance.

[itsallpc]

You could write down your private keys in a paper and store it in a locker and inform them to take it and access your account after your death.If your health is at critical stage and you want to take immediate action,then you could just sell your bitcoins since bitcoin price is good now and buy a property in their name and give it to them.

[Rahar02]

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?

The problem is, you're single, alone. Get married man, and share your wealth with your descendants.
I'm sorry if you can't do that, and the best option is share to nieces and nephews, do you think your life can't last long, like 5-10 years later? You should tell to your nephews and nieces at the right time which they could understand about it. Make some deposit boxes and give the keys to them, make it like a treasure.

[Sled]

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 the best thing to do is to just give your private keys to your uncle or any adult that you have in your family so you can have an assurance that they will keep your bitcoin or the private keys for at least more years. You just need to have a small presentation to them that is discussing about how they can keep it safe and also how they can use it when they really need money and i think that is enough for them to secure your bitcoins.

[pearlmen]

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?

Right now, the best is just to stop thinking about the eventuality of death and start living life to the fullest whether we like it or not, death will come at its time and there won't be anything to do to stop it while some come with notice in other to put the house in order, other comes without any notification. For me, I plan to live off my investment to the extent I can afford at the moment and those coming afterwards will always survive on their own.

[BCTBF]

Maybe you can make all your private keys as the inheritance you have stored in a place, then you tell your nephew to open them after you die. This may be a way you can do to a nephew who you have believed to receive.

[xypos]

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 are planning ahead, then I would say that an nlocktime transaction would work for you.

This is a decentralized means of essentially letting your relatives have access to your bitcoin. All you need to do is to generate the nlocktime transaction in bitcoin core, tell whoever you trust/want to have your belongings after you die the transaction, conduct all incoming transactions on the address on which the transaction was generated, and you're set to go.

So they can only access your coins when it's at a certain block number, for example, block 900,000. The transaction isn't valid before that time. If you spend the coins, then obviously the transaction will not work.

[cafucafucafu]

Write down your wallet's seed hidden in a book. Show the book cover and those twelve words to your siblings, explain them how to re-create a wallet with these words. Show them how to find the book in your shelf. Don't involve lawyers or anybody strange to your family.

Bad idea, obviously the odds of someone finding this seed in your book is extremely small, but it simply cannot be ignored especially if you are planning on giving massive amounts of bitcoin in your will. And in a situation where there are no backups, even if something minor like a house fire occurs, you are at risk of losing the seed to recover the wallet.

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 are planning ahead, then I would say that an nlocktime transaction would work for you.

This is a decentralized means of essentially letting your relatives have access to your bitcoin. All you need to do is to generate the nlocktime transaction in bitcoin core, tell whoever you trust/want to have your belongings after you die the transaction, conduct all incoming transactions on the address on which the transaction was generated, and you're set to go.

So they can only access your coins when it's at a certain block number, for example, block 900,000. The transaction isn't valid before that time. If you spend the coins, then obviously the transaction will not work.

That's a good idea. nlocktime as a dead man's switch is extremely useful as you cannot manipulate the output address, meaning that nobody but your intended receiver can ever get the coins. Or, you could have a deadman's switch service host your private keys and send it to your relative's email address, although you'll be trusting the service to keep your keys secure.

[SaShiRaJaVu]

One thing i know is that,i do not hold that much amount of coins and i am not planning to stock bitcoin but i will be holding a few from time to time,i am not thinking about death,i am having medical check ups every six months and i am fine and healthy ,never had any diseases and doing yoga and eating healthy.If i hold an insane amount of money then i will plan accordingly.

[susila_bai]

I have full records written in a book with full details of my login accounts of all my working sites with full details. Even the desktop wallet details are also their , so if any day i am having problem or suddenly i die then my family can get help through this book. But even i dont have problem because most of the bitcoin what i am earning are mostly converted to fiat currency. only i am holding the altcoins which i believe that in future their value will be 10x time then now.

[xypos]

I have full records written in a book with full details of my login accounts of all my working sites with full details. Even the desktop wallet details are also their , so if any day i am having problem or suddenly i die then my family can get help through this book. But even i dont have problem because most of the bitcoin what i am earning are mostly converted to fiat currency. only i am holding the altcoins which i believe that in future their value will be 10x time then now.

Bad idea. Sharing your password with anyone is not a good idea, even though they might seem trustworthy right now. The whole notion behind bitcoin is that you don't need to trust anyone for your bitcoin to be stored, as opposed to a bank account. Of course this offers complications such as when you die, nobody has access to your coins, but this is a necessary sacrifice to make to get the anonymity of bitcoin.

As I said, nlocktime is an extremely good way of letting your loved ones have access to your coin when you do die. Obviously it's not something that everyone wants to confront but it does need to be addressed eventually. All they need is a bitcoin address, and the raw tx, unsubmitted. They can submit it once the block height is over a certain number.

[aesma]

With nlocktime, don't you run into the risk that the fee might be insufficient ? I guess you could use a huge fee to be certain it will go.

If I die today my coins will be lost, but it's not that big an amount. I will consider what to do when/if I hold more crypto than other assets like stocks/real estate.

[Vishnu.Reang]

I had already mentioned this in another thread:

https://bitcointalk.org/index.php?topic=1984456.msg19797383#msg19797383

But it is scary. Imagine some Bitcoin millionaire with thousands of coins suddenly passing away. No one else knows about the private keys and all the coins will be lost for ever. It is tragic, as that money could have been used to educate thousands of children, or to provide food for hungry people.

[Duzter]

In the event of my death this will be a loss, because I haven't educated my parents and my family members with the operating of the wallet. Also they won't be getting high, because the entire funds that I have in the wallet is the one that I got is from the campaign participation.

[costina]

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?

Are you old person or have incurable disease? If not have that I think you can waiting your nieces and nephews enough age know Bitcoin and use your private keys. But if you scared can died any time, I think you can find a person you trustest and ask them to help keep your grandchild until they grow up, maybe be best friend

[warrior333]

Unfortunately when it comes to money even the best friend can betray you and usurp your money. Maybe there's a point you begin to mine coins and to teach this to my nephews. It is not difficult and will bring them a steady income.

[Zadicar]

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?

Why would you care soo much that its like you are going to die tommorow? Its not really bad to think off on passing out your bitcoin into your loved ones since you are single its much better to spend those bitcoins and granting all the things you do want while you are still living since you are thinking about death then better to live your life to its fullest using those bitcoin.

[Shenzou]

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?

Why would you care soo much that its like you are going to die tommorow? Its not really bad to think off on passing out your bitcoin into your loved ones since you are single its much better to spend those bitcoins and granting all the things you do want while you are still living since you are thinking about death then better to live your life to its fullest using those bitcoin.

Death is somthing inevitable and we are all going toward, but we can't just sit ideal and do nothing and just think about it, we need to make the best of our lives since we only live once we might as well enjoy it to the most, so just keeping money and not spending it is the wrong thing to do here, go out and enjoy while you can