What happens with my crypto when I die?

[ichai]

nice topic; at least right now there are a lot of transaction who were lost maybe either for a basic error like wrong typing an adress of a wallet. Is really hard to find a decentralized solution for solve these problems, but i'm pretty sure there are some dev who works on it

Perhaps this question is good, but if we are afraid of death, no one will enjoy our altcoin, we should show our wife and children how to trade altcoin, how to withdraw cash. That is the best way you will rest assured. dont worry.

[airdnasxela]

Silly question right?
Unless there is a backup method or heritage system it obviously vanishes for eternity, but the point was to discover methods that you are aware for avoiding such risks.

Well, it's not a risk, it's a certainty, but there are other risks of losing access to the crypto account aswell.
Some like:
* death... obviously
* house burns down along with hard wallet
* one can accidently loose his cold storage or hard wallet
* maybe other you figure out and I add them

So, what storage do you use to ensure your savings, or what do you think would be the best solution to overcome these risks?


UPDATE: I started this discusion because I can't see a decentralized solution for that, most of the centralized ones are largely known (wills at layers, online wallets and so on) but do not meet the security criteria as still imply a trusted party. Better simply handover the private key directly to the inheritant IMO.

What I want to determine is if it IS realy a concern for the comunity or not, and if yes than we can contribute all together to the creation of a such product. But again I realy do think it should be built decentralized and trustless.

Yes, this is purely a silly question. It is because no one can escape death. Also, a normal person will think about on prolonging his life rather than thinking what will happen to his bitcoin when he does.  Another point is that you must wholeheartedly pass it to your offspring or descendants or your wife if she/he is alive. Just keep it in different digital wallets or at banks so it is secured.

[Blondy12]

If there is a will then definitely there will always a way, actually many ways to choose from.

DEATH?
     - why you need to worry if you can sharr your private keys to those you love the most, the reason for you to invest in bitcoin. Like in my case, i invested for my children’s education anf for their future. So, my children already knew where did i put all my important document and that is how i trusted them that much.

FIRE?
     - there this thing called fire proof deposit box. Well, it is a must to have it in everyone’s household for the safety of our important documents and assets not just our bitcoin private keys.

LOST?
     - even if you’ve lost our gadgets that has access to our holdings. There is nothing to worry about that also since our private keys are with us. Just make to secure our wallets with password from our mobile phones or computers so that no one can ever access it other than us and our trusted loveones.

[Cacingkemi]

nice topic; at least right now there are a lot of transaction who were lost maybe either for a basic error like wrong typing an adress of a wallet. Is really hard to find a decentralized solution for solve these problems, but i'm pretty sure there are some dev who works on it

Perhaps this question is good, but if we are afraid of death, no one will enjoy our altcoin, we should show our wife and children how to trade altcoin, how to withdraw cash. That is the best way you will rest assured. dont worry.

Should be among the family should someone know the private key or save in a note someday will be used by families who know about cryptocurrencies,well I have done it with my family so that someday I die there who continue my personal assets.

[13risingforce]

If no one else knows all the passwords and privatekey your bitcoin or coin storage then it will be useless. There will be no one like family or anyone who can have your coins after you die.

[bolsha]

If you have saved the information of your investment and wallet, your family members can withdraw that money. But if you do not have some information then that money will get lost.

[szpalata]

nice topic; at least right now there are a lot of transaction who were lost maybe either for a basic error like wrong typing an adress of a wallet. Is really hard to find a decentralized solution for solve these problems, but i'm pretty sure there are some dev who works on it

Perhaps this question is good, but if we are afraid of death, no one will enjoy our altcoin, we should show our wife and children how to trade altcoin, how to withdraw cash. That is the best way you will rest assured. dont worry.

Should be among the family should someone know the private key or save in a note someday will be used by families who know about cryptocurrencies,well I have done it with my family so that someday I die there who continue my personal assets.

I think the banks and law firms can come together to form a unit where matters of financial confidentiality could be discussed and kept, because if there was such in existence you can instruct them to cash whatever you have saved be it in bitcoin, a house you've hid from family or any valuable item and then give the cash to the family or the person you want outside your main will.

[almaerk08]

The hardest part of crypto currency is listing of pin and crypto wallet information. I will advice people to at least share their secret pin with their wife or child to avoid a big mistake when someone dies , so that your crypto currency will not be a wast to your family when you die

I think the best way is to have your keys secured by keeping it safe and having many copies which of course, you will keep. If you have much coins in your wallet, maybe you have to make a will that states about to whom and how much share your family can get so that in case of death, it will be put into legal ways and not putting your hard earned coins to nothing.

[Cryptocb]

Bitcoin is a function of generation to generation, and like wise in the bank system, where their is next of king option, and we'll stated to your right brother or sister, even your children as the case may be, the same application here on crypto, you need to teach your trust son or daughter, even your brother's that is interesting of online digital money, and among them, you can choose one and show him your diary record, where private key are saved.

[jhonnydeep87]

You can tell the people closest to you about the currency of encryption due to the encryption currency as the corresponding privacy key, if you suddenly die then your assets will not be finished.

[Saraquiel]

With the massive amounts of BTC coins that has been lost through death or just dummies just not seeing that BTC would be worth something one day, are there no plans for a contingency method of retrieving people's coins and maybe dispersing them within the BTC community?

[coinriver]

You can share your password with your family.

[SimasB]

It will be the best investment long-term. haha

[9emb3lelit3]

To replace my position if I can no longer be with Bitcoin it is definitely my family who will replace my position. I will leave all my income from Bitcoin for my family, which I will teach first so that my family can understand and also understand all the procedures, the system and all the programs from Bitcoin.

[russaa8]

I think that you need to make your list of information about all the values that you have. These are personal cryptotices, access to all exchanges for scripts, all bank accounts, access to all untwisted social channels like YouTube and bitcointalk.org, and much more that can be of value or generate revenue.

[hdtqisg]

Silly question right?
Unless there is a backup method or heritage system it obviously vanishes for eternity, but the point was to discover methods that you are aware for avoiding such risks.

Well, it's not a risk, it's a certainty, but there are other risks of losing access to the crypto account aswell.
Some like:
* death... obviously
* house burns down along with hard wallet
* one can accidently loose his cold storage or hard wallet
* maybe other you figure out and I add them

So, what storage do you use to ensure your savings, or what do you think would be the best solution to overcome these risks?


UPDATE: I started this discusion because I can't see a decentralized solution for that, most of the centralized ones are largely known (wills at layers, online wallets and so on) but do not meet the security criteria as still imply a trusted party. Better simply handover the private key directly to the inheritant IMO.

What I want to determine is if it IS realy a concern for the comunity or not, and if yes than we can contribute all together to the creation of a such product. But again I realy do think it should be built decentralized and trustless.

A good question that does not know how to do! Not a bank account, no one has a private key, so Altcoin will follow you forever! I believe so, unless you give someone another password to keep the private key after you die.
 

[Kimchu kuno]

Your bring your coins with you if you do not leave your private keys to some one open or in question mode how mosaic

It will disappear if I will not give to somebody my private key.

[yvuj101]

Your bring your coins with you if you do not leave your private keys to some one open or in question mode how mosaic

It could be vanish if I will not make a testament of will for my heirs and leave my private to them

[maryjaysblog]

 

Silly question right?
Unless there is a backup method or heritage system it obviously vanishes for eternity, but the point was to discover methods that you are aware for avoiding such risks.

Well, it's not a risk, it's a certainty, but there are other risks of losing access to the crypto account aswell.
Some like:
* death... obviously
* house burns down along with hard wallet
* one can accidently loose his cold storage or hard wallet
* maybe other you figure out and I add them

So, what storage do you use to ensure your savings, or what do you think would be the best solution to overcome these risks?


UPDATE: I started this discusion because I can't see a decentralized solution for that, most of the centralized ones are largely known (wills at layers, online wallets and so on) but do not meet the security criteria as still imply a trusted party. Better simply handover the private key directly to the inheritant IMO.

What I want to determine is if it IS realy a concern for the comunity or not, and if yes than we can contribute all together to the creation of a such product. But again I realy do think it should be built decentralized and trustless.

  I have never actually thought of this. Since all your valuable should be in a will, you should consider adding all your crypto details to one. While you are alive do backups in various cloud locations. Ultimately, i expect a heritage system in the nearest future.... A system with a next of kin.

[RBICoin]

In case of death, you will not care what is with your coins.
Personally, I have 3 local private copies of private keys on different flash drives, but without specifying the numbers of purses.
One - at home, the second - at work in the safe, the third - always with me.
So in any case, there is always an opportunity to access the keys.