If you die, what will happen with your coins?

[LTU_btc]

OP, your plan have big risk that your family may not find USB with your wallet in my opinion. Why you just not tell your family about btc? Or this is secret? And do you think that USB is safest place to keep such important information?
Personally, I was thinking about what will happen to my btc after my death. Maybe I will write in my testament, how to access my testament and give to a lawyer. I'm not planning to do everything complicated, because I want to be guaranteed, that someone from my family will access my btc.
Anyway, I'm still young and not preparing to die

[poordeveloper]

Instructions would be required because else they will assume there's nothing valuable.

[jekjekman]

Hi there

I have been thinking about this for a while and I have seen the same question in the Spanish thread. So, if you die do you have a plan to give you currencies to your relatives?

This is mu strategy: I have copied the paper wallets in a usb key, compressed with a password. The usb key contains a file with the instructions to guess the password (you have to know me in person). This usb has been put in my house, in the drawer, with some clothes. So if anything happens suddenly to me, I hope that my family, one day, will remove my clothes off and the usb will appear.    If the follow the instructions the will keep all the money.


Any other ideas?

It is true that when a Bitcoin holder dies it goes the same with his/her Bitcoin in his/her possession, it will become stagnant forever if he/she didn't make any way for other people or family members in how to access and retrieve it, good for those people who set already their way like a last will testament but most of the users of Bitcoin are young and not old enough to think that they will die soon.

I believe that there would be a company or group of people that will make a technology that will encrypt the information of a person who holds a specific cryptocurrencies then will be automatically decrypt if the person dies.

[fourpiece]

It will stay in your wallet as long as no one knows tour private key, nobody can open your wallet if they dont have your private keys better to give to a friend before you die.

[Cutekittens21]

If you die, and no one else knows your private key, they will be lost forever. This could mean the price for the coin would go up since each coin is limited.

I would keep your keys in cold storage in a safe place in your house. Maybe share with your family or even in your will.

[coinspam]

If I die nothing will happen my coins. They will stay on the blockchain, just like they have always been and always will be. Same as your coins and every other of those 21 million Bitcoins.

Have you read the OP? I doubt.


BTT. OP I think what you did is great. Actually I going to do something similar
Thanks for the idea.

absolutely I did. He says "he'll give his currencies to his family". He can only give his private key to his family to access those Bitcoins on the blockchain. He can't give his coins, the coins has an always will stay on the blockchain.

[allycn]

Good question. I should probably set up detailed instructions so that they understand what I am talking about, but if they can't access them I guess they will just remain somewhere on the blockchain forever.
I am tempted to invest in a Nano Ledger wallet as I think that might simplify their lives. I guess I should do some more research to have a better idea what to do and the best way to do it.

[loragean03]

Hi there

I have been thinking about this for a while and I have seen the same question in the Spanish thread. So, if you die do you have a plan to give you currencies to your relatives?

This is mu strategy: I have copied the paper wallets in a usb key, compressed with a password. The usb key contains a file with the instructions to guess the password (you have to know me in person). This usb has been put in my house, in the drawer, with some clothes. So if anything happens suddenly to me, I hope that my family, one day, will remove my clothes off and the usb will appear.    If the follow the instructions the will keep all the money.


Any other ideas?

much better to make a video that contains more specific ways how to get you coins if you died. so they easy to get your coins with no hustle because making some clue is so hard to solve, its like a sigsaw puzzle to solve, so instead of clues, make a video that how to get your coins step by step for your family to be use.

[Cyberczar]

 Nothing happens to it if your family doesn't know it exists. This is why you have to let someone know about it now you're alive.

[AkaSnake]

My girlfriend has the passphrase though she's still unsure as to what it really does. I'm very open to her since she's the only family I have left around me so whatever happens, she'd still receive something from me when I'm gone. We're not that rich, she can still work, but whatever happens to me, she can just recover the wallet and sell it if she wants. I'm also slowly teaching her about the coin just in case the inevitable happens too early, so I know she'd do good.

That's really great!

[aizen10]

obviously it will stock on your designated bitcoin wallet, unless you want to give it on someone who really trusted you of. so try to make some back up and give your bitcoin wallet information on that person you want to give, maybe your wives, or son or on your parents so they can use your coins you left in this world. it may more useful if you make that.

[deadsilent]

Lol. What the hell? That's very risky if you ask me. Just hire an attorney to settle your assets. So you won't be worrying about it. Just write your last will and the attorney is going to keep it until the day you die. Hiding your private keys somewhere is risky because there's a chance they will never saw that. And the USB or paperwallet might be broken or turned into pieces every time goes by. So hiding it somewhere is not the best option. Just give a copy of private keys to your family. Your bitcoins will go to them when you die anyway. Unless your are greedy af and bury you and yout bitcoin together.

It will stay in your wallet as long as no one knows tour private key, nobody can open your wallet if they dont have your private keys better to give to a friend before you die.

Lol. You care about your friends more than your family.

[Karpeles]

If they find it, they can take it.

If they don't, they don't deserve them and are better off without them.

I won't tell them or make a will giving the coins to them.

[ROB18]

Same as regular money, if you have specific instruction about it to the person you want to receive it then that will happen to him. But if you dont have, then it will just be there in the system unlike regular money since regular money is a legal tender which is being regulated by the government.

[JoeH]

They'd be perma frosted in the interstellar parts of the internet --> at least until someone gets a super computer that can hack private keys eh? ha This is a good though though I should tell my password to someone.... someone surely

[aardvark15]

If you die, and no one else knows your private key, they will be lost forever. This could mean the price for the coin would go up since each coin is limited.

I would keep your keys in cold storage in a safe place in your house. Maybe share with your family or even in your will.

They will be lost but most likely no one will know they are lost. The maximum number of Bitcoins will be 21 million but there are lost coins, some of which are known, but many lost coins no one knows about. It's hard to say how much if an impact this will have on price, but if these coins are never going to be sold, then the supply is basically lower because of it.

If you have Bitcoins that you are holding, I recommend that you leave instructions on how to recover them with your spouse or other family members. You could leave this in your will or in a safe or safe deposit box where they will find it if you die.

[aitorp6]

Did you know this web site? https://www.deadmansswitch.net/

Some people propose it at the Spanish thread.  If something happens to you it would send an email to someone you want.

This is how this works. You write a few e-mails and choose the recipients. These emails are stored privately until they're sent. Your switch will email you every so often, asking you to show that you are fine by clicking a link. If something were to... happen... to you, your switch would then send the emails you wrote to the recipients you specified. Sort of an "electronic will", one could say.

It could be a good solution

[osasshem]

All necessary details of my crypto currencies is in a safe where my brother knows, so,its just for him to get it and that's all.

[darkangel11]

Hopefully my wife will inherit all that and put it to a good use. She's familiar with cryptos and shouldn't have a problem trading them if needed.
I'd like my family to be taken care of when I'm gone, so if BTC ever goes to some crazy prices I'll make sure it's included in my last will.

[xiboothrezi]

The bitcoin will remain in our wallet if nobody knows access to use it. so my advice, make a special note about the wallet, then save and just tell the person you trust the wife. in order to be taken if you suddenly die.