What happens with my crypto when I die?

[peterpeterpeter]

Well it is also done or end of your cryptos unless there is another persons who are have access to your account and knows the password of it.
 So I think the best way to do is to save and share it to your love ones or to your family. Because we can't escape on that matter.

[Rebdoomer]

I think when every crypto holder dies. The crypto that they own is HODL forever thus stabilizing the value forever.

[pjr77]

if the owner does not leave access to the wallet, then the bitcoins will, unfortunately, be lost. and it will be impossible to access the purses. to avoid such situations, take care of this in advance. relatives must specify the data either in the will or simply give access, keeping the passwords in a safe place.

[S.R Rikto]

I think. Let you resolve your will and resolve your crypto-currency resources. It is based on smart agreements. Smart agreements control the fulfillment of your will. Not the problem

[znakistu]

if you want to pass someone your bitcoins inherited, make sure that relatives get access to your money after your death. a lot of bitcoins were lost because of losing the password from the purses or just after the death of the owner.

[LigwagGanern]

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.

If you will die your crypto is still there, will still there in your digital wallet or crypto wallet. If there is someone who know your password in your digital wallet maybe he or she will use your crypto to increase and not to decrease. While you are living , enjoy your life don't think that what happen in your crypto if you buy. Think what will happen to your family, if you die. Whatever happen, family is the treasure that no one can get from you.

[vickycoin05]

I think when every crypto holder dies. The crypto that they own is HODL forever thus stabilizing the value forever.

As of now I am sharing my bitcoin accounts to my husband. I make sure he knew everything about my account. If ever something happened to me atleast he have access my accounts and special he knows were I keep my coins.

[naldal barcelona]

Will its depend on how you manage your wallet. Because if you back up it a store at a safe place it will be good if you tell your wife or husband on it. Because we dont know about the future so it will be good if we are ready

[oludare1]

Bitcoin offers a unique challenge upon death. Since bitcoins only exist in virtual form and are encrypted by their very nature, they are extremely secure. Each bitcoin owner has a private password, or key, that allows secure access to the bitcoins stored in their digital wallet. Unfortunately, there is no method of retrieving this private key for a potential heir because there is no central authority that tracks the private keys.

If you pass away without leaving anyone the private key, your bitcoins effectively become inaccessible to anyone. Similarly, if you leave your private key behind without a clear explanation of what it is and how to use it, your bitcoins are likely to stay lost. It's similar to a key to a safety deposit box without any indicator of where the box is located -- except that a bank will eventually clear out a safety deposit box to reclaim the space.

Nobody would ever "clear out" old bitcoins to retain space if they could, because there's no incentive to do so. The genius of bitcoin is that the algorithm that creates them inherently limits the supply -- so when bitcoins are lost, the remaining supply in circulation become a bit more valuable through scarcity.

How do you make sure that your bitcoins are properly passed on? The simplest way is to make sure that your heirs are aware of your bitcoin account and that you either trust them with the private key now, or store the private key in a suitably secure location such as a safety deposit box. You can store the key on a flash drive or use a good old-fashioned piece of paper.

[turenkopolina1992]

if you don't trust other people and share you BTC with someone then why do you care what will happen to your Bitcoins when you will be dead in the first place?
Maybe I am selfish, but my coffin won't have pockets to keep bitcoins there, I have no intention to take them to the grave.

[gvnsrbtc]

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.

[monarchy]

Many will change after you die so crypto would be better if you die and crypto is also very popular in all countries and crypto will also be the first virtual asset

[loyddube2231]

I think it will be given to your family or your wife. Or it can be hold. What happens when you die the tokens in the unfortunate event of death you could wroght down a will with instructions.

[AldenHoward]

The hardest part of crypto currency is listing of pin and crypto wallet information.for you to avoid such and watching all your hard earn coins waste while in the grave let a reliable member of your family have access to your wallet thanks.

[camily.june24]

Backup methods will need a lot of changes in the technology itself. This is a trustless system, which needs the intervention of the person holding bitcoins.In case a holder of bitcoin wallet dies, i think his/her bitcoin will still be in the system but no one can assess it. Making his/her asset lost .

[Lx2018]

In the event that your relatives realize that you are putting resources into a cryptographic money, take mind ahead of time to give them access to your wallet, generally your sepulcher will basically sink into the chasm after your demise.

[Drakula]

If you feel like you're already dying, you should atleast tell a very trustworthy person of yours your pin in wallet so that he could have access to those riches, since you wont be able to use them anymore, think of it as an act of help because if nobody knows your pin, then its like you failed to leave a legacy.

[300pips]

Just inform your family and educate them about crypto and how it works. Let them know how to encash it, tell them where to find the private keys and how to encash them incase you die.

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.

[sotoshihero]

Backup methods will need a lot of changes in the technology itself. This is a trustless system, which needs the intervention of the person holding bitcoins.In case a holder of bitcoin wallet dies, i think his/her bitcoin will still be in the system but no one can assess it. Making his/her asset lost .

It will be not accessible forever when you die, unless you trained a person or any member of the family how to access it. Just leave an instruction together with your private detailing how to access it. Be sure also you have a phycical copy of it written on paper and laminate as another backup.  

[Burogh]

I think the solution is let our trusted family knowing our wallet and share our private key. Its really wasting time if we dont have heritage to our family and our family can not touch our assets after we die