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Author Topic: Your Wallet Keys and Passwords should be known to you and you alone. Yes! But...  (Read 2320 times)
Glad108
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August 24, 2018, 11:42:09 AM
 #21

The thing is that most of us are just over secretive. If it was possible for us to keep our own secret from ourselves, maybe we would have. There are some people you just have to let into certain things in your life especially passwords. Bring up your child in a way he/she will be a to keep your passwords or private keys safe even in your absence. You MUST die one day.
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Korkorjkk
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August 24, 2018, 11:49:25 AM
 #22

This is very true, I agree with you. Anything can happen to anyone at anytime, and if no one knows about your key, it means your money will be lost forever.

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August 24, 2018, 11:56:20 AM
 #23

I always save my wallet key  in safety place because it is the most important to all the crypto user.On the other hand we should teach our family member about wallet key and password.  Wink   
tegarp90
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August 24, 2018, 02:42:34 PM
 #24

Yes! You need to protect your wallets against any possible theft or hacking. You must protect your private keys and wallet passwords. This is a must for everyone, else your coins will be stolen.

The frequent warnings of ensuring you protect your private keys from anyone seems to have eaten too deep into almost everyone of us in cryptocurrency. Some of us have forgotten certain realities of life and cryptocurrency wallets which I want to warn you about. My warning is mainly targeted at anyone who has a family, or at least, a child. You must leave a means or trace that your family will be able to access your wallets when you are gone. I mean when you are below 6ft. Each one of us will die some day. No one wants to hear this, but it is the absolute truth. If you suddenly die today with your secret keys and passwords unknown to your family, your coins are lost forever. Your crypto wallet is not a regular bank, so no way your family can claim your many crypto wealth online.
Don't be selfish. Your family or wife or children must not suffer when you have so much Bitcoin or other coins trapped in an inaccessible online wallets.

Remember your family and loved ones.

You have a very strong and uneasy decision to make today.



Offline wallet is really recommended when you're having more than 1 btc. Because your wallet could be the target of the hackers.
So, keep safe with your self
paulo013
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August 24, 2018, 03:17:46 PM
 #25

This is the situation that i thinking if im gone someday. How can i help my family on financial needs?. Then this is the time to opened up my wallet keys on my family specially to my brother and sister. I don't want to be selfish to them. I teached them how was cryptocurrency work. We have to think it advance from every situation can be happen in the future. I think this is the best thing we can do to our family.

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August 24, 2018, 04:25:53 PM
 #26

YES. it should,Wallet Keys and Passwords should be known to you and you alone, But who knows what next to happen! like myself my younger sister has mine keys and password. she's my lovely one, very trustworthy, its all depend on one self.
ajuelnah akun
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August 24, 2018, 04:37:32 PM
 #27

make a copy of your private key wallet, and give it to the closest person such as your wife or the person you trust the most.
so if something bad happens then your bitcoin will still be accessible and used.
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August 24, 2018, 04:42:12 PM
 #28

A cold storage paperwallet with an easy to reveal private key would solve this. Just keep it in a safe spot where your wife knows where it is and how she can redeem it.

Ferki
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August 24, 2018, 04:47:48 PM
 #29

Well,thats something to think about.Not becouse we are selfish,or i´m selfish.Just becouse i´m to lasy to get my son or wife into it.Now i need to write all those passwords down on the paper. But imagine those guys with lot of MEW´s accounts if something goes bad.
Ty for the thoughts anyway
MadaraAvenger
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August 24, 2018, 04:51:01 PM
 #30

Well it's fundamental and one of the most important rulles in crypto "always make sure you're in full control of your funds". Besides this, it's not safe to keep your altcoins into exchanges, you never know what can happen with that certain exchange. The only reason to keep altcoin on exchanges are because you're a trader or you're lazy to get a hardware wallet...

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August 24, 2018, 05:18:04 PM
 #31

I've long taken care of that aspect, it's something I thought about a couple of years ago.
Like, 3 or 4 years ago, I've compiled a pretty extensive tutorial on how to exchange the funds on my paper wallets and I've given that tutorial to some family members.

I've given just the tutorial though, so they currently have no access to any private keys.
Now, if something were to happen to me, they know where they can find my private keys, but as long as that doesn't happen => no access.

I'm not going to go into too much detail, but something like this is pretty easy to set up when you think about it.

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August 24, 2018, 05:53:55 PM
 #32

As far as i know there's a certain coin that will validate your private key. Example if you're a consignee A and you have another COnsignee B which is your love ones. they can get the amount that you have- It's like multi sginature wallet. One good example is Nem(XEM) they have this wallet. So it's very safe and easy to use, Unlike other altcoins that they offer
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August 24, 2018, 05:56:08 PM
 #33

I've long taken care of that aspect, it's something I thought about a couple of years ago.
Like, 3 or 4 years ago, I've compiled a pretty extensive tutorial on how to exchange the funds on my paper wallets and I've given that tutorial to some family members.

I've given just the tutorial though, so they currently have no access to any private keys.
Now, if something were to happen to me, they know where they can find my private keys, but as long as that doesn't happen => no access.

I'm not going to go into too much detail, but something like this is pretty easy to set up when you think about it.
The key to your safe is inside you! I knew it all along! But seriously how can they not be able to access a location with you alive only?

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August 24, 2018, 06:55:12 PM
 #34

I'm not taking this whole thing about keeping keys private and protecting the money too seriously. Some of you guys are going too far with the secrecy, not telling anyone that you have cryptocurrencies, keeping your passphrases secret and such. If you live with someone and are running a house with that person, there's no reason not to trust each other. If your wife decides to kill you and get your money she will find a way. If you have reasons not to trust her just get a divorce right away and find someone else.

 
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August 24, 2018, 07:08:17 PM
 #35

I know a lot of men that wouldn't even trust their own wife.........

Trusting your wife is the worst possible thing you can do. No one should be so stupid to do that.

I won't ever grant anyone access to my coins, not even partly. When I'm no longer part of this world, my coins will be 'burned' for ever. I don't do it because I want to gift other fellow Bitcoiners extra value now there are less coins in circulation, but it's a principle thing. I'm not being selfish. Why is it selfish to just have your coins go down with you? I'm in no way obliged to help anyone who didn't do shit to deserve even one single satoshi of mine.

Who's there to help you? Family members are mostly just as much of a snake ready to bite when you're not looking. No thanks.
A family you don't trust is not a family! Why live with a man who is willing to steal everything from his most loved one - it's not right. All the money earned is always a common property of your family for the benefit of children and yourself and I think it's right. Trust and love are the first things to live for. Why do you need your wealth if you do not want to leave it to anyone. If tomorrow you will not be - for whom all your work?

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darkangel11
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August 24, 2018, 07:15:01 PM
 #36

I've long taken care of that aspect, it's something I thought about a couple of years ago.
Like, 3 or 4 years ago, I've compiled a pretty extensive tutorial on how to exchange the funds on my paper wallets and I've given that tutorial to some family members.

I've given just the tutorial though, so they currently have no access to any private keys.
Now, if something were to happen to me, they know where they can find my private keys, but as long as that doesn't happen => no access.

I'm not going to go into too much detail, but something like this is pretty easy to set up when you think about it.
The key to your safe is inside you! I knew it all along! But seriously how can they not be able to access a location with you alive only?
The easiest way is to write a will and deposit it at a lawyer's office. If you want to be very safe put your passphrase into the will and place an encrypted wallet file somewhere in the house. The location should also be in the wil. This way if somebody finds the file in your house they will still need the passphrase (most likely they won't know what it is if you change the name and put it in a folder with a lot of other similar files). The lawyer will also not be able to take your money as he would have to steal the files from your house first. If you die the family will get the whole thing.

 
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August 24, 2018, 07:15:28 PM
 #37

Trusting your wife is the worst possible thing you can do. No one should be so stupid to do that.

Who's there to help you? Family members are mostly just as much of a snake ready to bite when you're not looking. No thanks.

Family members can go fuck themselves to be honest.

Save your story to yourselves. Don't applied it generally to everyone because people have different experience.

Feel sorry for the experienced you



To summarize my story, all my private keys including keys from a dead and shitcoin are all placed in a note (Flash Drive and saved from different storages). That will also include the .dat file of a wallet. All my family members knows that note.

Too much drama for me if until to the end I will kept it as secret just because of my self reason and price. I trust my family and I don't even care if they will spend it although they will not do it.

Well then we have different approach and story on our side. I will not take my statement in general.

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August 25, 2018, 12:51:15 AM
 #38

This is a very good advice to everyone out there. Don't allow your family to starve to death whereas they are seeing cryptocurrencies worth thousands in your wallet addresses they cannot access.
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August 25, 2018, 09:33:13 AM
 #39

I'm not taking this whole thing about keeping keys private and protecting the money too seriously. Some of you guys are going too far with the secrecy, not telling anyone that you have cryptocurrencies, keeping your passphrases secret and such. If you live with someone and are running a house with that person, there's no reason not to trust each other. If your wife decides to kill you and get your money she will find a way. If you have reasons not to trust her just get a divorce right away and find someone else.
Thanks very much. You have also point out a very important thing here. Your wife can always find her way round you. So, if you are not safe with her, then maybe you take a decision about it.
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August 25, 2018, 09:44:21 AM
 #40

Its so easy, before you die or when you know that you have health issues or your life is being threatened, then simply make a note that your family can only open when you're gone. That note should contain not just the keys/passwords but also on how they are able to get the funds.
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