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streazight
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October 09, 2017, 05:15:49 PM |
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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?
In case of death although you mentioned that your sibling doest not care about cryptocurrency just inform them. For sure if you mention how much your bitcoins and other coins are worth you will get their attention. You may also go to a bank and leave a hardware wallet and just inform them about it in case you die. Better advice it is, I must say. There are so many people who have bitcoins now and they are dying just keeping their bitcoins along them. They never shared any password or any private key to anyone and then ultimately those bitcoins are just wasted. Like you said, there must be someone to whom you can share your keys or hardware wallet so they your retainers can utilize in hard times. |
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The Bitcoin network protocol was designed to be extremely flexible. It can be used to create timed transactions, escrow transactions, multi-signature transactions, etc. The current features of the client only hint at what will be possible in the future.
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Kevin K
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October 11, 2017, 05:37:19 AM |
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Wow this is pretty morbid stuff but I would honestly if I were you I would make the most of the last moments I have on this world.
I would cash the fk out of those bitcoins right now and go traveling around the world and do all the things
ive ever wanted to do because im a selfish prick.
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fishbonez11
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October 11, 2017, 06:52:36 AM |
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I am also a single person with deceased parents. I have older siblings but we are not that close. I understand your concern regarding who and how to transfer properties to specific people or organization that you want to acquire them in your death. With regards to the money per se, my personal take is to enjoy life with the money that I own. After all, I worked for it and we'll never know when we're going to die so there is no point being frugal with myself. So, with regards to bitcoin, your question got me thinking. I guess I will keep my account and passwords in a safe place and let a trusted friend know about its whereabouts and my desire when I die. Or maybe write a will and still let a lawyer handle it. Just for a crazy idea, why not send emails to your nephews and nieces (if they already have an email address) using LetterMeLater.com containing all necessary information and set the date to 40-50 years from now?
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fullhdpixel
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October 12, 2017, 11:56:44 AM |
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I am also a single person with deceased parents. I have older siblings but we are not that close. I understand your concern regarding who and how to transfer properties to specific people or organization that you want to acquire them in your death. With regards to the money per se, my personal take is to enjoy life with the money that I own. After all, I worked for it and we'll never know when we're going to die so there is no point being frugal with myself. So, with regards to bitcoin, your question got me thinking. I guess I will keep my account and passwords in a safe place and let a trusted friend know about its whereabouts and my desire when I die. Or maybe write a will and still let a lawyer handle it. Just for a crazy idea, why not send emails to your nephews and nieces (if they already have an email address) using LetterMeLater.com containing all necessary information and set the date to 40-50 years from now?
Death is the fortune thing and no body deny its reality, if one have coins in his accounts and he died away and logically there is no person who knows about the private key of the wallet, that will give loss to his remaining so one must share his private key with some trust worthy person so that in time of need his relatives can use those revenue to overcome the financial problems. |
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Gotomoon
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October 12, 2017, 01:21:15 PM |
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Wow this is pretty morbid stuff but I would honestly if I were you I would make the most of the last moments I have on this world.
I would cash the fk out of those bitcoins right now and go traveling around the world and do all the things
ive ever wanted to do because im a selfish prick.
I would rather enjoy my life to the fullest because we will never know when is our last end here in the world. I would also love to travel to enjoy life. And with regards to bitcoin let you lawyer handle it and atleast have a testament will for your assets. |
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guoyu78
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October 12, 2017, 01:39:39 PM |
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Wow this is pretty morbid stuff but I would honestly if I were you I would make the most of the last moments I have on this world.
I would cash the fk out of those bitcoins right now and go traveling around the world and do all the things
ive ever wanted to do because im a selfish prick.
That is up to you brother. I don’t think so there are so many people who want this too. If you have a family, your kids and your parents then you can’t just decide to have a world tour, while your family is at hungry stage and they are just trying to get proper meals. You must leave your belongings for them so that they can have a better life ahead. |
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Genamant
Full Member
 Offline
Activity: 730
Merit: 102
Trphy.io
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October 13, 2017, 06:50:55 AM |
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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 sick ? or your life is indanger ? if this is the case you have no choice if your nephews and nieces are too young to understand what you do ,you have to entrust it to people you think you can trust but if you are just thinking about this things and still have time to even teach your nephews or nieces about this well i think that would be more okay to you knowing that they they would be able to claim your legacy someday |
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Kevondo
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October 13, 2017, 05:45:38 PM |
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Wow this is pretty morbid stuff but I would honestly if I were you I would make the most of the last moments I have on this world.
I would cash the fk out of those bitcoins right now and go traveling around the world and do all the things
ive ever wanted to do because im a selfish prick.
That is up to you brother. I don’t think so there are so many people who want this too. If you have a family, your kids and your parents then you can’t just decide to have a world tour, while your family is at hungry stage and they are just trying to get proper meals. You must leave your belongings for them so that they can have a better life ahead. Death is the reality and we cannot repent this money is above all the things. The price of the bitcoin is now very high and the users will be able to have the huge income from the bitcoin. The value of the bitcoin is increasing more and more. People who are saving the high amount of the bitcoin are the real bit coiners so hold your bitcoin and invest the small amount of bitcoin in your favorite currency, the value will be high. |
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Kiweikoo
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October 14, 2017, 07:19:38 AM |
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Wow this is pretty morbid stuff but I would honestly if I were you I would make the most of the last moments I have on this world.
I would cash the fk out of those bitcoins right now and go traveling around the world and do all the things
ive ever wanted to do because im a selfish prick.
That is up to you brother. I don’t think so there are so many people who want this too. If you have a family, your kids and your parents then you can’t just decide to have a world tour, while your family is at hungry stage and they are just trying to get proper meals. You must leave your belongings for them so that they can have a better life ahead. If one has a family and also invested into bitcoin then he must have to share his key with some trustworthy person into the family and this will be beneficial for his remaining after his death, as by doing so the family have no financial problem they can use it in any form so every investor must share their key with their special trustworthy person to give them secure life. |
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IAMYOURLEADER
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October 14, 2017, 07:39:05 AM |
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In any case, if that happen I think I should make a note written telling that I'm giving all my btc to my family. All of my accounts with my passwords will be there so they'll just do is log in and withdraw all of it. But I'm sure it's too early to happen because I'm not an outgoing person so fatal accidents are impossible to happen to me.
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chelle5
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October 14, 2017, 07:45:30 AM |
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Death?Really?But if ever i will be dying then i will be giving my bitcoin to my daughter.So that she will continue to work in it.
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Theb
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October 14, 2017, 07:54:44 AM |
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In any case, if that happen I think I should make a note written telling that I'm giving all my btc to my family. All of my accounts with my passwords will be there so they'll just do is log in and withdraw all of it. But I'm sure it's too early to happen because I'm not an outgoing person so fatal accidents are impossible to happen to me.
Well that note should be protected by a will, that only the event of your death that is only the time they will know the passwords to your Bitcoin wallet. Also you should know that there are no guarantees that it will fall into the right people because the possibility of the one who will inherit your Bitcoin does not have any idea on what Bitcoin is, to avoid that happening you must train them first hand on what Bitcoin is to give them some first hand experience on using or at least cashing out their Bitcoin. |
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Aikidoka
Sr. Member
Offline
Activity: 1078
Merit: 342
Sinbad Mixer: Mix Your BTC Quickly
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October 14, 2017, 08:53:16 AM |
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It is quite simple. Give what is left of your profits to the people you love (Your nieces and nephews as you said.) Do not give them to people who take advantage of you. Learn about who truly loves you, and I am sure they will be happy (Not happy if you die because money cannot replace a deal body.) Anyways, I hope you do not die until you realize your dreams. As for me, in case I die, I want to give my profits to my mom, grandmother, siblings, and the one who I truly love and consider them to be close to me. And to be honest, this post made me a little bit scared, I might start writing my will.
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Carlsen
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October 14, 2017, 09:03:29 AM |
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If a person has no close relatives he wants to give his bitcoins, I think the option of letting the bitcoins get lost on purpose can be given a thought.
When somebody is dedicated to the bitcoin project and he wants to do the whole community a favour, he has the possibility to reduce the supply of bitcoin by removing his share of bitcoins out of the system.
Everybody who owns bitcoins (and is still alive) would benefit in a small way from that.
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chocolah29
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October 14, 2017, 09:14:27 AM |
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Death?Really?But if ever i will be dying then i will be giving my bitcoin to my daughter.So that she will continue to work in it.
Yes that can be and if you know and you can be ready for your death, like if you have a terminal sickness, But what if your death will be all of a sudden? How can you give your bitcoin or the password of your wallet? So better to tell to your wife or husband your password, For sureo you trust these people enough for your password. So when you die accidentally, they can use it to live decently even though you're already gone. |
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Sled
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October 14, 2017, 09:54:23 AM |
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Death?Really?But if ever i will be dying then i will be giving my bitcoin to my daughter.So that she will continue to work in it.
Yes that can be and if you know and you can be ready for your death, like if you have a terminal sickness, But what if your death will be all of a sudden? How can you give your bitcoin or the password of your wallet? So better to tell to your wife or husband your password, For sureo you trust these people enough for your password. So when you die accidentally, they can use it to live decently even though you're already gone. I think it is better to just create a simple tutorial or instructions in a notebook and tell your wife or other part of your family to read it when you are completely gone because it will be the guide for them to have your bitcoins and other cryptocurrencies as a insurance that they will get money once you die and they don't need to worry for their money because they can sell your cryptocurrencies and get it into fiat. |
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eucliffe
Full Member
Offline
Activity: 203
Merit: 100
Was that was it was?
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October 14, 2017, 10:37:14 AM |
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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?
You can trust me bro, just kidding, how about you try writing a letter explaining everything about BTC then store it in a safebox hide it somewhere safe give them the password then ask them to find that safebox once you're gone. |
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rasyiqul1505
Newbie
Offline
Activity: 85
Merit: 0
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October 29, 2017, 02:12:29 PM |
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i will keep all about bitcoin and sometime i will tell my child about my bitcoin password.
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Mpamaegbu
Legendary
Offline
Activity: 2688
Merit: 1208
Once a man, twice a child!
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October 29, 2017, 03:02:06 PM |
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It is quite simple. Give what is left of your profits to the people you love (Your nieces and nephews as you said.) Do not give them to people who take advantage of you. Learn about who truly loves you, and I am sure they will be happy (Not happy if you die because money cannot replace a deal body.) Anyways, I hope you do not die until you realize your dreams. As for me, in case I die, I want to give my profits to my mom, grandmother, siblings, and the one who I truly love and consider them to be close to me. And to be honest, this post made me a little bit scared, I might start writing my will.
If you die it would be too late to do anything or assign a directive to anyone. That will be dying intestate sort of. This isn't really what OP seeks. Sorry to disappoint you though. Anyway, I think many people will eventually fall to this kind of scenario at their death except death writes a letter for warning us of its coming. There's so much secrecy around the Bitcoin or cryptocurrency in general that everything looks like a secret that should be kept tight. From password to private key to seed to what else have you that should be hidden always. |
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webelong
Full Member
Offline
Activity: 140
Merit: 100
The Future Of Work
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October 31, 2017, 07:08:40 AM |
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I am not afraid to die.But I am afraid to the people that I will be leaving.In some point and stage of my life I have been loved,cherished by the people who loved me.So better get close with someone else.Make a family for you and your money to have purpose.It is very fulfilling seeing soneone who is beside you and caring and smiling with you.Go get a life!
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