Bitcoin Forum
September 19, 2018, 07:44:30 PM *
News: ♦♦ Bitcoin Core users must update to 0.16.3 [Torrent]. More info.
 
   Home   Help Search Donate Login Register  
Pages: [1] 2 3 4 »  All
  Print  
Author Topic: Inheriting Cryptos  (Read 276 times)
tithes
Newbie
*
Offline Offline

Activity: 15
Merit: 2


View Profile
February 02, 2018, 11:50:01 AM
Merited by pawel7777 (1)
 #1

I was thinking the other day, of the eventuality of inheritance and cryptos.

We are all busy trading and hoarding as many coins as we can in the hope to be self sufficient later on down the road, but we should remember to have a plan to share the details, or all could be in vein.

Should there not be a mechanism allowing the inheritance of coins which have not be transferred during life to ones loved one? If someone is to pass and not provide the access to their wallets these coins are forever lost.

Food for thought.
1537386270
Hero Member
*
Offline Offline

Posts: 1537386270

View Profile Personal Message (Offline)

Ignore
1537386270
Reply with quote  #2

1537386270
Report to moderator
1537386270
Hero Member
*
Offline Offline

Posts: 1537386270

View Profile Personal Message (Offline)

Ignore
1537386270
Reply with quote  #2

1537386270
Report to moderator
Make a difference with your Ether.
Donate Ether for the greater good.
SPRING.WETRUST.IO
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1537386270
Hero Member
*
Offline Offline

Posts: 1537386270

View Profile Personal Message (Offline)

Ignore
1537386270
Reply with quote  #2

1537386270
Report to moderator
1537386270
Hero Member
*
Offline Offline

Posts: 1537386270

View Profile Personal Message (Offline)

Ignore
1537386270
Reply with quote  #2

1537386270
Report to moderator
1537386270
Hero Member
*
Offline Offline

Posts: 1537386270

View Profile Personal Message (Offline)

Ignore
1537386270
Reply with quote  #2

1537386270
Report to moderator
hase0278
Hero Member
*****
Offline Offline

Activity: 868
Merit: 535



View Profile
February 02, 2018, 12:42:43 PM
 #2

I was thinking the other day, of the eventuality of inheritance and cryptos.

We are all busy trading and hoarding as many coins as we can in the hope to be self sufficient later on down the road, but we should remember to have a plan to share the details, or all could be in vein.

Should there not be a mechanism allowing the inheritance of coins which have not be transferred during life to ones loved one? If someone is to pass and not provide the access to their wallets these coins are forever lost.

Food for thought.
That's no big deal because a crypto user can always do leave behind private keys for crypto wallets on a PC or a ledger nano s for the one who will inherit to continue the trader's legacy in crypto. He/she needs only to tell the one who will inherit his/her crypto about it while the crypto user is alive. For now this is the most viable method I can think of but I do hope that in the future, there will be a legal process for it so that inheritance will be easier.

        ▄▄███████████▄▄
     ▄██▀▀           ▀▀██▄
   ▄█▀   ▄▄█████████▄▄   ▀█▄
  █▀  ▄███████▌ █▌ █████▄  ▀█
 █▀  ██  ██         ▀█████  ▀█
▐█  ██▀▀█████   ▄▄▄   █████  █▌
█▌ ▐██▄▄████▌  ████   █████▌ ▐█
█  ███  ████        ▄███████  █
█▌ ▐█▀▀████▌   ▄▄▄  ▀██████▌ ▐█
▐█  █▄▄████   ████   ▐█████  █▌
 █▄  ████           ▄█████  ▄█
  █▄  ▀████  ███  ██████▀  ▄█
   ▀█▄   ▀▀█████████▀▀   ▄█▀
     ▀██▄▄           ▄▄██▀
        ▀▀███████████▀▀
bitcore.
...The Future Is Now...
▄▄▄▄▄▄▄▄    ▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄     ▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄

        ██
██████
        ██
        ██████
        ██
██████
        ██
        ██████
        ██
██████
                 ▄▄██
 ▄██████████████████████▄
█▀         ▄▄██▀▀   ██  ▀█
█▄     ▄▄██▀▀        ██  █
█▀█████████████████████████▄
█                          ▀█
█                           █
█              ▄████▄       █
█             ██▀  ▀██      █
█            ▐█▌    ▐████████
█             ██▄  ▄██      █
█              ▀████▀       █
█                           █
█▄                         ▄█
 ▀█████████████████████████▀
.
iOs
Android

        ██
        ██████
        ██
██████
        ██
        ██████
        ██
██████
        ██
        ██████


     ▄▄█████████▄▄
   ▄███▀▀     ▀▀███▄
  ███             ███
 ███               ███
▐██   ▐█▄   ▄███▄   ██▌
██▌    ███▄██████▀  ▐██
██▌    ▐████████    ▐██
▐██     ▐██████     ██▌
 ███   ▀█████▀     ███
  ███             ███
   ▀███▄▄     ▄▄███▀
     ▀▀█████████▀▀


     ▄▄█████████▄▄
   ▄███▀▀     ▀▀███▄
  ███             ███
 ███       ▄███    ███
▐██       █████     ██▌
██▌       ███       ▐██
██▌     ███████     ▐██
▐██       ███       ██▌
 ███      ███      ███
  ███             ███
   ▀███▄▄     ▄▄███▀
     ▀▀█████████▀▀


     ▄▄█████████▄▄
   ▄███▀▀     ▀▀███▄
  ███             ███
 ███         ▄▄█▌  ███
▐██      ▄▄█████    ██▌
██▌   ▄████████     ▐██
██▌  ▐████████      ▐██
▐██    ▀▀████       ██▌
 ███     ▀██       ███
  ███             ███
   ▀███▄▄     ▄▄███▀
     ▀▀█████████▀▀
Website
ANN
Block Explorer
Samarkand
Sr. Member
****
Offline Offline

Activity: 462
Merit: 269



View Profile
February 02, 2018, 12:46:54 PM
 #3

... If someone is to pass and not provide the access to their wallets these coins are forever lost.

Food for thought.

You are focusing on the downside. If coins are irrevocably lost that actually increases the
value of all the coins that are still in circulation. You could even view dying with your coins
as a contribution to the cause of your fellow Bitcoin holders.

There are estimations that more than 4-5 million Bitcoin are effectively lost or
unaccessible, which would imply that the actual available supply of Bitcoin is
effectively only 16M BTC instead of 21M BTC if all coins will be mined in the future.

Besides, I think that it is inevitable that methods will emerge that allow you
to safely pass on your cryptocurrency holdings to your children or your loved ones.


       █
      ██
     ██
   ██ ██
 █ ██ ██
██ ██ ██
██ ██ ██
██ ██ ██
██ ██ ██
██ ██ ██
   
       █
      ██
     ██
   ██ ██
 █ ██ ██
██ ██ ██
██ ██ ██
██ ██ ██
██ ██ ██
██ ██ ██
  B

          ▄▄▄▄▄▄
     ▄▄████████████▄▄
   ▄█████▀▀    ▀▀█████▄
  ████▀            ▀████
 ████                ████
▐███                  ███▌
███▌                  ▐███
▐███           ▄▄     ███▌
 ████         ▀███▄  ▐███
  ████▄         ▀███▄███
   ▀█████▄▄     ▄█████▀
     ▀▀████████████▀▀
          ▀▀▀▀▀▀
T 
Better. Quick.

Transparent.






             ▄████▄▄   ▄
█▄          ██████████▀▄
███        ███████████▀
▐████▄     ██████████▌
▄▄██████▄▄▄▄█████████▌
▀████████████████████
  ▀█████████████████
  ▄▄███████████████
   ▀█████████████▀
    ▄▄█████████▀
▀▀██████████▀
    ▀▀▀▀▀






▄█████████████████████████▄
███████████████████████████
███████████████▀       ████
██████████████      ▄▄▄████
██████████████    ▐████████
██████████████    ▐████████
██████████            ▐████
██████████            █████
██████████████    ▐████████
██████████████    ▐████████
██████████████    ▐████████
▀█████████████    ▐███████▀






                   ▄▄████
              ▄▄████████▌
         ▄▄█████████▀███
    ▄▄██████████▀▀ ▄███▌
▄████████████▀▀  ▄█████
▀▀▀███████▀   ▄███████▌
      ██    ▄█████████
       █  ▄██████████▌
       █  ███████████
       █ ██▀ ▀██████▌
       ██▀     ▀████
                 ▀█▌
vintages
Full Member
***
Offline Offline

Activity: 420
Merit: 136


View Profile
February 02, 2018, 02:10:11 PM
 #4

Cryptocurrency is just  like any other assets like house or landed property and willing it to a beloved one is definitely not a big deal. Just make sure to write where to find your private key or password to your wallet to your next of kin. Another important is to educate him/her about cryptocurrency, to know their worth.And make sure its someone whom you trust not to terminate you just because of your coins. 

Jlimao28
Newbie
*
Offline Offline

Activity: 238
Merit: 0


View Profile
February 02, 2018, 02:34:01 PM
 #5

Its up to you if you will share your private keys or not. In my opinion, I will print all of my paper wallet and I will put it on a vault with security lock that my family can pass. We must share it to our family even we are still young because at any moment we will die, we have the assurance that our family will be benifited by our sacrifices. For me, I will put my trust in my family when it comes in keys and passwords of my wallet, there is nothing wrong if they can access too because I am here for the sake of my family.
samyang2x
Member
**
Offline Offline

Activity: 124
Merit: 10


View Profile
February 02, 2018, 02:48:45 PM
 #6

Its a matter of CHOICE not by CHANCE.If someone wants to give details about him/her doing crypto then its their decision.If you choose to do it then save all data needed to know,so that the one inheriting it is going to be more responsible enough to handle such thing.Then if you do not want to partake something to your family then bring to grave anything that you've earned from crypto.Then die a selfish person.

▐▐ █     GRE   ≣   GLOBAL RISK EXCHANGE     █ ▌▌
━━  ((     Whitepaper     |     ANN Thread     ))  ━━
Telegram     Medium     Facebook     Twitter     Github
pawel7777
Legendary
*
Offline Offline

Activity: 1680
Merit: 1070



View Profile WWW
February 02, 2018, 02:59:53 PM
 #7

...
Should there not be a mechanism allowing the inheritance of coins which have not be transferred during life to ones loved one? If someone is to pass and not provide the access to their wallets these coins are forever lost.

Well, if you trust your spouse/immediate family - you could just share all the passphrases, ask them to keep copies of recovery files, show them how BTC works etc.
You could also prepare encrypted flash drive with all the sensitive data and ask your close relative to store the password securely. For extra security, you could keep such drive in a bank safe deposit box (small ones cost around £100 in the UK).

And why would you consider such coins to be "lost forever"?? In most cases those would be recoverable, especially when your close ones knew you held cryptos, so they think twice before throwing away any paper wallets, flash drives or devices.


       █
      ██
     ██
   ██ ██
 █ ██ ██
██ ██ ██
██ ██ ██
██ ██ ██
██ ██ ██
██ ██ ██

       █
      ██
     ██
   ██ ██
 █ ██ ██
██ ██ ██
██ ██ ██
██ ██ ██
██ ██ ██
██ ██ ██
  B

          ▄▄▄▄▄▄
     ▄▄████████████▄▄
   ▄█████▀▀    ▀▀█████▄
  ████▀            ▀████
 ████                ████
▐███                  ███▌
███▌                  ▐███
▐███           ▄▄     ███▌
 ████         ▀███▄  ▐███
  ████▄         ▀███▄███
   ▀█████▄▄     ▄█████▀
     ▀▀████████████▀▀
          ▀▀▀▀▀▀
T 
.Better. Quick..

.Transparent....






             ▄████▄▄   ▄
█▄          ██████████▀▄
███        ███████████▀
▐████▄     ██████████▌
▄▄██████▄▄▄▄█████████▌
▀████████████████████
  ▀█████████████████
  ▄▄███████████████
   ▀█████████████▀
    ▄▄█████████▀
▀▀██████████▀
    ▀▀▀▀▀






▄█████████████████████████▄
███████████████████████████
███████████████▀       ████
██████████████      ▄▄▄████
██████████████    ▐████████
██████████████    ▐████████
██████████            ▐████
██████████            █████
██████████████    ▐████████
██████████████    ▐████████
██████████████    ▐████████
▀█████████████    ▐███████▀






                   ▄▄████
              ▄▄████████▌
         ▄▄█████████▀███
    ▄▄██████████▀▀ ▄███▌
▄████████████▀▀  ▄█████
▀▀▀███████▀   ▄███████▌
      ██    ▄█████████
       █  ▄██████████▌
       █  ███████████
       █ ██▀ ▀██████▌
       ██▀     ▀████
                 ▀█▌
tithes
Newbie
*
Offline Offline

Activity: 15
Merit: 2


View Profile
February 02, 2018, 03:01:35 PM
 #8

Yeah agreed, if you want to pass it on make sure you inform others about your coins and wallets.

The point is that most people will do this when they feel there time is approaching the end, like with any other assets. Statistically most will write their will in their last 10 years of their life.

But what happens if someone passes before having the chance of passing on the information. Should the relatives not have a claim to ownership somehow?
Xester
Hero Member
*****
Offline Offline

Activity: 952
Merit: 533


★YoBit.Net★ 350+ Coins Exchange & Dice


View Profile
February 02, 2018, 03:06:42 PM
 #9

Giving our bitcoins to our lovedones as inheritance is a good thing. All we have to do is to give them our password, email address and private keys.  We should atleast prepare them for those things.  Not all people know bitcoins and cryptocurrencies.

pawel7777
Legendary
*
Offline Offline

Activity: 1680
Merit: 1070



View Profile WWW
February 02, 2018, 03:08:18 PM
 #10

...
But what happens if someone passes before having the chance of passing on the information. Should the relatives not have a claim to ownership somehow?

They do have a claim. They do have a right to your crypto-wallet content and they do have (or should've) the right to access your verified exchange account upon proving they have legal right to do so, just like they get the right to access your bank account.

The tricky part is when they don't know what is bitcoin wallet, or that piece of paper with strange code on it you told them not to touch, or when you secured your wallet with password known only to yourself.


       █
      ██
     ██
   ██ ██
 █ ██ ██
██ ██ ██
██ ██ ██
██ ██ ██
██ ██ ██
██ ██ ██

       █
      ██
     ██
   ██ ██
 █ ██ ██
██ ██ ██
██ ██ ██
██ ██ ██
██ ██ ██
██ ██ ██
  B

          ▄▄▄▄▄▄
     ▄▄████████████▄▄
   ▄█████▀▀    ▀▀█████▄
  ████▀            ▀████
 ████                ████
▐███                  ███▌
███▌                  ▐███
▐███           ▄▄     ███▌
 ████         ▀███▄  ▐███
  ████▄         ▀███▄███
   ▀█████▄▄     ▄█████▀
     ▀▀████████████▀▀
          ▀▀▀▀▀▀
T 
.Better. Quick..

.Transparent....






             ▄████▄▄   ▄
█▄          ██████████▀▄
███        ███████████▀
▐████▄     ██████████▌
▄▄██████▄▄▄▄█████████▌
▀████████████████████
  ▀█████████████████
  ▄▄███████████████
   ▀█████████████▀
    ▄▄█████████▀
▀▀██████████▀
    ▀▀▀▀▀






▄█████████████████████████▄
███████████████████████████
███████████████▀       ████
██████████████      ▄▄▄████
██████████████    ▐████████
██████████████    ▐████████
██████████            ▐████
██████████            █████
██████████████    ▐████████
██████████████    ▐████████
██████████████    ▐████████
▀█████████████    ▐███████▀






                   ▄▄████
              ▄▄████████▌
         ▄▄█████████▀███
    ▄▄██████████▀▀ ▄███▌
▄████████████▀▀  ▄█████
▀▀▀███████▀   ▄███████▌
      ██    ▄█████████
       █  ▄██████████▌
       █  ███████████
       █ ██▀ ▀██████▌
       ██▀     ▀████
                 ▀█▌
Samarkand
Sr. Member
****
Offline Offline

Activity: 462
Merit: 269



View Profile
February 02, 2018, 03:11:13 PM
 #11

...
Well, if you trust your spouse/immediate family - you could just share all the passphrases, ask them to keep copies of recovery files, show them how BTC works etc.
...

I don´t think this is a particularly good idea. In most Western countries nearly
every 2nd marriage ends in a divorce and in most cases the partners are
not really leaving each other on good terms.

If you own a life-changing amount of Bitcoins you should consider the possibility
that your partner absconds with your fortune. After all it is quite easy to move Bitcoins
if you have the private keys and the wallet passphrase.

Of course my view is somewhat pessimistic, but given the divorce rates
and the potentially huge amount of wealth involved your proposal is quite dangerous.
On top of losing all your stored Bitcoins you would also have to deal
with the psychological consequenes of such an enormous betrayal
by a person you trusted.



       █
      ██
     ██
   ██ ██
 █ ██ ██
██ ██ ██
██ ██ ██
██ ██ ██
██ ██ ██
██ ██ ██
   
       █
      ██
     ██
   ██ ██
 █ ██ ██
██ ██ ██
██ ██ ██
██ ██ ██
██ ██ ██
██ ██ ██
  B

          ▄▄▄▄▄▄
     ▄▄████████████▄▄
   ▄█████▀▀    ▀▀█████▄
  ████▀            ▀████
 ████                ████
▐███                  ███▌
███▌                  ▐███
▐███           ▄▄     ███▌
 ████         ▀███▄  ▐███
  ████▄         ▀███▄███
   ▀█████▄▄     ▄█████▀
     ▀▀████████████▀▀
          ▀▀▀▀▀▀
T 
Better. Quick.

Transparent.






             ▄████▄▄   ▄
█▄          ██████████▀▄
███        ███████████▀
▐████▄     ██████████▌
▄▄██████▄▄▄▄█████████▌
▀████████████████████
  ▀█████████████████
  ▄▄███████████████
   ▀█████████████▀
    ▄▄█████████▀
▀▀██████████▀
    ▀▀▀▀▀






▄█████████████████████████▄
███████████████████████████
███████████████▀       ████
██████████████      ▄▄▄████
██████████████    ▐████████
██████████████    ▐████████
██████████            ▐████
██████████            █████
██████████████    ▐████████
██████████████    ▐████████
██████████████    ▐████████
▀█████████████    ▐███████▀






                   ▄▄████
              ▄▄████████▌
         ▄▄█████████▀███
    ▄▄██████████▀▀ ▄███▌
▄████████████▀▀  ▄█████
▀▀▀███████▀   ▄███████▌
      ██    ▄█████████
       █  ▄██████████▌
       █  ███████████
       █ ██▀ ▀██████▌
       ██▀     ▀████
                 ▀█▌
Hydrogen
Hero Member
*****
Offline Offline

Activity: 910
Merit: 662



View Profile
February 02, 2018, 03:16:01 PM
 #12

Should there not be a mechanism allowing the inheritance of coins which have not be transferred during life to ones loved one? If someone is to pass and not provide the access to their wallets these coins are forever lost.

Food for thought.

Most could opt for secret methods of crypto inheritance. With the death tax (see: estate tax) maxing out around 40% in the united states, I believe most would prefer to avoid a publicly known mechanism of inheritance, not wanting to lose half to taxes.

A mass adoption method of inheriting crypto based on software or smartphone apps could have a potential market. An anonymizing service like TOR for crypto inheritance could carry consumer demand.

Now that you mention it, this is an interesting topic. I wonder what the de facto consensus is with best standards for ensuring safe and reliable passing of crypto to next of kin.

robhimself1
Jr. Member
*
Offline Offline

Activity: 56
Merit: 1

Missing the boat again


View Profile
February 02, 2018, 03:16:27 PM
 #13

If you have big holdings anywhere online, a gambling site, a crypto account, a bank account people don't know about, at the very least you need to leave the information for your loved ones to find and recover them if something happens to you.

My original account "robhimself" was hijacked!
Happiest
Member
**
Offline Offline

Activity: 182
Merit: 20


View Profile
February 02, 2018, 03:17:37 PM
 #14

I think that when you have cryptocurrency, your family member should be aware of this, at least a particular family member if not all cause it will help willing it out to the right person at a right time. I think prior before writing an inheritance will, you should nurture whoever  you intend giving your bitcoin to and monitor their attitude towards it to prevent regards.

isaac_clarke22
Member
**
Offline Offline

Activity: 350
Merit: 29


View Profile
February 02, 2018, 03:21:30 PM
 #15

Like everyone stated, hardware wallets like we all know, Ledger or Trezor will help inherit the cryptos of the deceased person. However there isn't really a full  point of doing it because you can somehow link the wallets of your relatives by giving them the password to your wallet if you're on online wallet. The catch is the trust you will give is really risky if you do it early. Maybe in the future we can have some linked wallets that can successfully inherit the funds inside the wallet by showing required documents such as Death Certificate to prove the death or lost of loved ones. Right now it is by giving information required to gain access in your wallet. In software wallets, you can save your .dat wallet file in your flash drive with its wallet client then instruct in a notepad on how to transfer those funds and just hide it in your personal things then when the time comes they would just discover it and follow your instructions. It could prove helpful but we don't know if they can fully understand the wallet software itself.

pawel7777
Legendary
*
Offline Offline

Activity: 1680
Merit: 1070



View Profile WWW
February 02, 2018, 03:23:09 PM
 #16

...
Of course my view is somewhat pessimistic, but given the divorce rates
and the potentially huge amount of wealth involved your proposal is quite dangerous.
...

Agree, that possibility crossed my mind when I was writing my comment, that's why I added "immediate family". It doesn't have to be your spouse, it could be anyone who you find trusted i.e. sibling, parent, children (if old enough), or just good friend of yours.


       █
      ██
     ██
   ██ ██
 █ ██ ██
██ ██ ██
██ ██ ██
██ ██ ██
██ ██ ██
██ ██ ██

       █
      ██
     ██
   ██ ██
 █ ██ ██
██ ██ ██
██ ██ ██
██ ██ ██
██ ██ ██
██ ██ ██
  B

          ▄▄▄▄▄▄
     ▄▄████████████▄▄
   ▄█████▀▀    ▀▀█████▄
  ████▀            ▀████
 ████                ████
▐███                  ███▌
███▌                  ▐███
▐███           ▄▄     ███▌
 ████         ▀███▄  ▐███
  ████▄         ▀███▄███
   ▀█████▄▄     ▄█████▀
     ▀▀████████████▀▀
          ▀▀▀▀▀▀
T 
.Better. Quick..

.Transparent....






             ▄████▄▄   ▄
█▄          ██████████▀▄
███        ███████████▀
▐████▄     ██████████▌
▄▄██████▄▄▄▄█████████▌
▀████████████████████
  ▀█████████████████
  ▄▄███████████████
   ▀█████████████▀
    ▄▄█████████▀
▀▀██████████▀
    ▀▀▀▀▀






▄█████████████████████████▄
███████████████████████████
███████████████▀       ████
██████████████      ▄▄▄████
██████████████    ▐████████
██████████████    ▐████████
██████████            ▐████
██████████            █████
██████████████    ▐████████
██████████████    ▐████████
██████████████    ▐████████
▀█████████████    ▐███████▀






                   ▄▄████
              ▄▄████████▌
         ▄▄█████████▀███
    ▄▄██████████▀▀ ▄███▌
▄████████████▀▀  ▄█████
▀▀▀███████▀   ▄███████▌
      ██    ▄█████████
       █  ▄██████████▌
       █  ███████████
       █ ██▀ ▀██████▌
       ██▀     ▀████
                 ▀█▌
Wallflower28
Jr. Member
*
Offline Offline

Activity: 252
Merit: 5

World's First Exchange to Tokenize People


View Profile
February 02, 2018, 03:49:03 PM
 #17

Knows the people you will give your keys like your wife and family. Since you gave it to them, do not think that they will not try to access it specially to your wife. You decided it to give so you must not care whatever will happens to the amount of your wallet.
It is better for a crypto enthusiast like us to share our wallets to out love ones. So that, if there is something that happens to us they know that they have money to withdraw and also, they can access with your wallet in hardtimes without your permission.

TOKENAIRE  |  JOIN OUR TOKENSALE  |  TOKENAIRE
World's First Exchange to Tokenize People
trickyriky
Sr. Member
****
Offline Offline

Activity: 574
Merit: 250



View Profile
February 02, 2018, 04:10:00 PM
 #18

I was thinking the other day, of the eventuality of inheritance and cryptos.

We are all busy trading and hoarding as many coins as we can in the hope to be self sufficient later on down the road, but we should remember to have a plan to share the details, or all could be in vein.

Should there not be a mechanism allowing the inheritance of coins which have not be transferred during life to ones loved one? If someone is to pass and not provide the access to their wallets these coins are forever lost.

Food for thought.

Naturally it can be done, why not? Although I never thought about it, the idea is very good. At least the heirs will love it.

eternalgloom
Legendary
*
Online Online

Activity: 1344
Merit: 1075


Crypto-Games.net: Multiple coins, multiple games


View Profile WWW
February 02, 2018, 04:37:45 PM
 #19

I don't think there should be a mechanism for this, you are responsible yourself of making sure that your loved ones and family get access to your cryptocurrency.
I would not trust a service that keeps all access to my holdings in a centralized place, I'd rather take care of that myself.

My girlfriend for example has access to everything I own, also my crypto.


▄▄▄████████▄▄▄
▄██████████████████▄
▄██████████████████████▄
██████████████████████████
████████████████████████████
██████████████████████████████
██████████████████████████████
██████████████████████████████
██████████████████████████████
██████████████████████████████
████████████████████████████
██████████████████████████
▀██████████████████████▀
▀██████████████████▀
▀▀▀████████▀▀▀
   ███████
██████████
██████████
██████████
██████████
██████████
██████████
██████████
██████████
██████████
██████████
██████████
███████
BTC  ◉PLAY  ◉XMR  ◉DOGE  ◉BCH  ◉STRAT  ◉ETH  ◉GAS  ◉LTC  ◉DASH  ◉PPC
     ▄▄██████████████▄▄
  ▄██████████████████████▄        █████
▄██████████████████████████▄      █████
████ ▄▄▄▄▄ ▄▄▄▄▄▄ ▄▄▄▄▄ ████     ▄██▀
████ █████ ██████ █████ ████    ▄██▀
████ █████ ██████ █████ ████    ██▀
████ █████ ██████ █████ ████    ██
████ ▀▀▀▀▀ ▀▀▀▀▀▀ ▀▀▀▀▀ ████ ▄██████▄
████████████████████████████ ████████
███████▀            ▀███████ ▀██████▀
█████▀                ▀█████
▀██████████████████████████▀
  ▀▀████████████████████▀▀ 
✔️DICE           
✔️BLACKJACK
✔️PLINKO
✔️VIDEO POKER
✔️ROULETTE     
✔️LOTTO
Mometaskers
Hero Member
*****
Offline Offline

Activity: 938
Merit: 518



View Profile
February 02, 2018, 05:03:09 PM
Merited by paxmao (1)
 #20

It should be personally handled by the holder. Printing paper wallets, making back-ups of software wallets, keeping the passphrase secure, etc. If you don't want to give it to them while you are alive, you can probably arrange for them to receive the items when you die. I don't know how lawyers will handle this but you can split thee apart, for example hard wallet is stored by one person, etc. The only one that will probably not get updated regularly in your executor's "vault" are those that you use everyday, for example exchange accounts so you'd have to find a way for your family to take hold of that still.
Pages: [1] 2 3 4 »  All
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!