jubalix (OP)
Legendary
 Offline
Activity: 2618
Merit: 1022
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June 25, 2017, 05:34:59 AM |
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Lets face it HBB (hit by a bus) can happen any time
what is you mechanism or plan to inherent you BTC to your loved ones?
particularly if they are not IT literate.
In my view A person could easily loose your coins in so many ways if you do not understand what you are doing.
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Mandoy
Sr. Member
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Activity: 644
Merit: 264
Aurox
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June 25, 2017, 05:42:14 AM |
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Lets face it HBB (hit by a bus) can happen any time
what is you mechanism or plan to inherent you BTC to your loved ones?
particularly if they are not IT literate.
In my view A person could easily loose your coins in so many ways if you do not understand what you are doing.
Well I am planning to save some bitcoin for the future use of my family. My way for them to access the account is to leave behind the details of my bitcoin account. I will also leave some procedures and steps that they should follow how they can access my btc account and how can they convert it to cash. I will possibly make a video for them so that it will guide them on the process and will enable them to successfully benefits from what I will leave them. I am sure that they will be very happy since at that time bitcoins value would likely reach 100k$ and they can buy a house or build a business. |
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davis196
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June 25, 2017, 06:13:27 AM |
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Lets face it HBB (hit by a bus) can happen any time
what is you mechanism or plan to inherent you BTC to your loved ones?
particularly if they are not IT literate.
In my view A person could easily loose your coins in so many ways if you do not understand what you are doing.
My relatives will not inherent any of my bitcoins or altcoins. My parents divorsed and i hate them.I don`t have a girlfriend and i don`t plan having kids. Perhaps i will donate my bitcoins in case of death(if i have any bitcoins left). The easiest mechanism that you are asking for is to sell btc for fiat and tell them about your savings. |
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qiman
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June 25, 2017, 06:13:59 AM |
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I plan on writing a memo in a book and giving the family all the exchange i.ds, wallets etc but I am very busy at the moment and do not have much to be considered worth their time yet. I wll think on this down the road when I have accumulated at least one Bitcoin.
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frowsiter
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June 25, 2017, 07:11:32 AM |
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I will make a self video explaining about bitcoin and all my holdings. I will explain detailed accounts in the video and will write down all the account details like password and username. The private keys I will keep in safe which they can access easily. I think that would be easiest way to pass on my bitcoin or any fiat I'm holding. If anytime I get more than millions of holdings then I will mention that in my will as well.  |
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Wendigo
Legendary
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Activity: 2604
Merit: 1036
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June 25, 2017, 07:13:48 AM |
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Master seed in my will left at the family lawyer.
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White sugar
Legendary
Offline
Activity: 1232
Merit: 1005
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June 25, 2017, 07:16:26 AM |
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They will have all my hardware
They will get it if they deserve, if they don't, them it will be their fault only
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J Gambler
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June 25, 2017, 07:28:22 AM |
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I plan on writing a memo in a book and giving the family all the exchange i.ds, wallets etc but I am very busy at the moment and do not have much to be considered worth their time yet. I wll think on this down the road when I have accumulated at least one Bitcoin.
I will do that too. But for me if it will happen. I will them now how to earn it and what did they need to do and they will now learn how to use it. And i think if i will tell them this now it will be good because they can now earn to and when i pass that to them they will make it as their investment too. |
Y U MAD AT ME
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NorrisK
Legendary
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Activity: 1946
Merit: 1007
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June 25, 2017, 07:34:39 AM |
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The people around me know that I am into cryptos so that's probably step one.
Then there are certain family members that have been in crypto as long as I have that will be able to figure out how to access my coins if they really need to.
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Gastotade
Sr. Member
Offline
Activity: 545
Merit: 250
Colletrix - Bridging the Physical and Virtual Worl
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June 25, 2017, 07:39:59 AM |
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The people around me know that I am into cryptos so that's probably step one.
Then there are certain family members that have been in crypto as long as I have that will be able to figure out how to access my coins if they really need to.
Teach it to my family the next few days or years, when they both understand itwell and knows how to make it more profitable or useful. It really be a good way to earn and to make as a business . It will nake our future better. |
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HeRetiK
Legendary
Offline
Activity: 2940
Merit: 2091
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June 25, 2017, 07:45:11 AM |
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I have certain people that I trust will be able to help my not so Bitcoin literate loved ones.
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Juggy777
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June 25, 2017, 07:50:54 AM |
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Lets face it HBB (hit by a bus) can happen any time
what is you mechanism or plan to inherent you BTC to your loved ones?
particularly if they are not IT literate.
In my view A person could easily loose your coins in so many ways if you do not understand what you are doing.
So basically you are saying that what happens when some one passes away and his loved one does not know about his coins. One way I feel, is to let the closed ones know that one has Bitcoins. Secondly then give them a demo how to recover them in case anything happens. However hide the private key and leave clues to find it. That's the only way. |
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EXtremeAEX
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June 25, 2017, 07:51:32 AM |
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Write a note about it, say you have Bitcoins (Digital Currency) ~worth how much, then leave your details to how you can access it. Just give a short summary about Bitcoin and hope that they Google it and get the Bitcoins!  Not so sure about Bitcoin Inheritance, seems cool, treating an investment as an asset. May not be so safe if the inheritor does not know much (or nothing) about Bitcoin. |
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robelneo
Legendary
Offline
Activity: 3248
Merit: 1204
#SWGT CERTIK Audited
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June 25, 2017, 07:58:19 AM |
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Bitcoin is now an investment portfolio, so you should prepare it in any way all your family will understand how it works by preparing a video or writing notes or articles on how your bitcoin can be traded to fiat money but you should prepare it now,while you are still alive by explaining to your family.
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Potato Chips
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June 25, 2017, 08:02:09 AM |
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Basically it'll go to my current family. If I died early then it will go to my parents/siblings and if older then to my kids. Regarding with handling the coins well and retrieving it. you
don't really have to be an IT literate to do that. I don't know with the older people but young peoople these days are easy to adapt with technology. if you're going to leave a
note at least leave a instruction. its an obvious thing to do if you know that those people have no idea of what you're talking about.
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Karmakid
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June 25, 2017, 08:05:44 AM |
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Just find someone in your family line that has a bit knowledge about those techy things and can understand bitcoins totally,its not that hard me if i were in that case i already teaches my younger brother in case something happen to me he can still continue this
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coynedterm
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June 25, 2017, 08:11:45 AM |
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Lets face it HBB (hit by a bus) can happen any time
what is you mechanism or plan to inherent you BTC to your loved ones?
particularly if they are not IT literate.
In my view A person could easily loose your coins in so many ways if you do not understand what you are doing.
This is a big reality , that how to insurance our Bitcoin so that atleast we can give the benefits of the Bitcoin to our family after the accident or any bad thing happened . Here I am using Bitcoin from 3 years more but still my family ( where I am a small member ) don't know about the Bitcoin that how to deal and use and what will happen they don't want understand even I tried to explain , so I think it is more better for us that we should hire a friend ( 1000% trusted ) and tell them that if you get died then help my family to collect all the money from Bitcoin and at all other sites another money because friend can do everything and no one . And also I am thinking that one of the family member should be reached about the Bitcoin that how to use Bitcoin private key of the address and then told him where you putted your private key , so that if any problem happen then they can access atleast your savings . |
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jubalix (OP)
Legendary
Offline
Activity: 2618
Merit: 1022
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June 25, 2017, 08:50:29 AM |
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Master seed in my will left at the family lawyer.
....whats to stop the lawyer absconding with your sqillions? |
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pearlmen
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June 25, 2017, 08:58:27 AM |
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Lets face it HBB (hit by a bus) can happen any time
what is you mechanism or plan to inherent you BTC to your loved ones?
particularly if they are not IT literate.
In my view A person could easily loose your coins in so many ways if you do not understand what you are doing.
I agree that one should plan for uncertainty because it does not give notice of its happening do for me, not necessarily hit by a bus but any other time what I do just make sure someone I trusted is already aware of what I do to the fullest and the only thing the person does not know is just my passwords and that is the only thing left which I am planning to write somewhere the only person that can have access to it is that same person and with that I am good to go. |
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