Ebede
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December 04, 2021, 05:33:51 PM |
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My answer is almost same as mainly answers above, and indeed systemically, your Bitcoin will remain in that abandoned wallet forever. But i wonder what if in the future there will be a policy or blockchain development that will allow miners to take "garbage" from the "dead wallet" ? Is that possible? ![Huh](https://bitcointalk.org/Smileys/default/huh.gif) Of course no any other answer to the question because the bitcoin will remain there till kingdom come and i have similar answer too that i answered right now, and i think this educational instinct is making people to be civilize in and also be active to write out their private Key's for death purpose.
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Fakhrulenclix
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December 04, 2021, 05:49:24 PM |
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The secrecy of the phrase bitcoin is indeed recommended for all of us who already have bitcoins in our wallets. However, how to interpret the secret? Of course in this life there are people we can trust and there are people we can't trust. For example, if you have children or a wife, they will inherit all the wealth we have. All we have to do is save all these phrases and we trust to retrieve them if one day we die. Of course our bitcoins can be used by them.
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| | │ | ██████████ ██ ██ ██ ██ ██ ██ ██ ██ ██ ██ ██ ██████████ | CRYPTO WEB3 NEOBANK | ██████████ ██ ██ ██ ██ ██ ██ ██ ██ ██ ██ ██ ██████████ | │ | | | | | |
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Gosgosking
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December 05, 2021, 05:32:02 AM |
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The secrecy of the phrase bitcoin is indeed recommended for all of us who already have bitcoins in our wallets. However, how to interpret the secret? Of course in this life there are people we can trust and there are people we can't trust. For example, if you have children or a wife, they will inherit all the wealth we have. All we have to do is save all these phrases and we trust to retrieve them if one day we die. Of course our bitcoins can be used by them.
That is what have always been reasoning, there are people we can trust in our family where we come from who will can trust to let them know the private keys incase anything happens. If know one have information of the wallet the bitcoin will remain in the wallet forever.
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airdata
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December 05, 2021, 06:28:33 AM |
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If someone hold their Bitcoin and no body know that has a bitcoin his wallet then nothing to do after his dead and your bitcoin will dead with your dead. So you can share your crypto fund with your family member.
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kotajikikox
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December 05, 2021, 07:29:37 AM |
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If someone hold their Bitcoin and no body know that has a bitcoin his wallet then nothing to do after his dead and your bitcoin will dead with your dead. So you can share your crypto fund with your family member.
Yeah right , that has been told hundred of times above you lol. ________________________________________________________________ I have shared 70% of my crypto asset to my Wife and Son , they are now having the keys with me so whatever happen they will share all the funds i have left them. the other 30% stays in mine for my trading activities . Maybe sooner i will also share those to them.
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Olayinka2225
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December 10, 2021, 05:14:25 AM |
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Well, trading continues with it if the password to the wallet, private key or the seed phrase is known by any of the family or the children. I4 won't just be dormant doing nothing in a wallet for life even though the worth would be increasing and decreasing on bitcoin price
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Amejoaquim
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December 10, 2021, 06:23:30 AM |
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Keep copy of hardware wallet keys/seed/pin in safebox. Descendants get access to this upon death. Include cryptocurrency and other e-assets in your will. People are starting to think about this already.
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AakZaki
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December 10, 2021, 07:28:03 PM |
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Keep copy of hardware wallet keys/seed/pin in safebox. Descendants get access to this upon death. Include cryptocurrency and other e-assets in your will. People are starting to think about this already.
I really want to live on if I can. Lol. My family, wife have understood what I am doing today including in the crypto world. Although he wasn't interested in meddling. Several times I told myself that I had online storage in the form of a digital wallet. I have also told you that I made a note to my wife regarding my wallet. Although he didn't understand at least he understood that there was digital money stored and it was mine and could be his if I died. No one may know when to die, but telling a trusted person early on is one of the best ways.
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donaldlloyd
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December 13, 2021, 04:00:58 AM |
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Yes your bitcoins will be wasted forever if your loved ones had no access to it. If I were at your place, I would share my private keys with my children. I don’t want them to struggle for what can be really easy for them.
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Abiky
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December 16, 2021, 12:40:45 PM |
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There is a much more effective method. Buy a metal plate and engrave your private key/seed on it (they are already available for $30 on Amazon). Bury it in a safe place, preferably on your own property. Leave a note in your will with the info on where to put it. Your descendants, no matter if they know Bitcoin and crypto in common, will figure out how to get the Bitcoin with the private seed, there are easy to understand instructions on the internet.
This is by far the best way to preserve your Bitcoin for generations. Metal wallets seem to last a lifetime as they're waterproof, fireproof, and even shockproof. There's a crypto backup solution called the "CryptoSteel Capsule" which is made out of high-quality stainless steel. Several tests were performed in order to verify the company's durability claims, and all of them succeeded. It's a great way to protect your Bitcoin seed/mnemonic for when you're dead. The only thing is that this metal wallet has a high price tag. There are other affordable options (like the metal plate previously mentioned), but they might not be as durable as the CryptoSteel Capsule. At least, something's better than nothing. You'll never know when you'll die, so it's better to act quickly before it's too late. ![Wink](https://bitcointalk.org/Smileys/default/wink.gif)
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StLucifer
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December 16, 2021, 04:53:52 PM |
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If indeed you die suddenly and there is absolutely no sign, then maybe your Bitcoin will be in your wallet forever. However, if you keep your data neat, and easy to understand on your personal computer. Then there is still a possibility that your Bitcoin will be used by the owner of the computer next.
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gloriamartin
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December 31, 2021, 03:55:05 AM |
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Bitcoins are a virtual crypto currency with no physical existence. A person can store Bitcoin in a secured De-Fi wallet or a blockchain account. Those details must be saved with utmost privacy. Hence, in the case of the death of a person, there are chances, those details get buried forever. That means it will be impossible to recover those coins again. However, the person can decide whether to rely on offspring or siblings to share the details, in case it is required after a death.
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milewilda
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December 31, 2021, 05:42:22 AM |
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If indeed you die suddenly and there is absolutely no sign, then maybe your Bitcoin will be in your wallet forever. However, if you keep your data neat, and easy to understand on your personal computer. Then there is still a possibility that your Bitcoin will be used by the owner of the computer next.
Which is your own family but accessing it would be useless if family members arent really that techy when it comes on accessing things thats why its really important for you on at least showing off some preparedness on teaching them about even just with the basics because no one really know on when they would die thats why it would be sensible on leaving those coins to be worthy and be used by your loved ones rather than on letting them totally lost in void or totally cant be used by everybody. You should be mindful even with the simplest stuff because you dont know on what would happen next.
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Pamadar
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December 31, 2021, 01:00:24 PM |
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If indeed you die suddenly and there is absolutely no sign, then maybe your Bitcoin will be in your wallet forever. However, if you keep your data neat, and easy to understand on your personal computer. Then there is still a possibility that your Bitcoin will be used by the owner of the computer next.
Which is your own family but accessing it would be useless if family members arent really that techy when it comes on accessing things thats why its really important for you on at least showing off some preparedness on teaching them about even just with the basics because no one really know on when they would die thats why it would be sensible on leaving those coins to be worthy and be used by your loved ones rather than on letting them totally lost in void or totally cant be used by everybody. You should be mindful even with the simplest stuff because you dont know on what would happen next. The right thing to do, educating those people around you to make sure that in case a sudden death happened, they know what to do. It's no good just to let them know that you are investing in this industry and nothing else, but the good thing is to also guide them. Even interest is not there from them. Knowledge is better than losing your hard earned investment when an accident happened or whatever kind of incident that caused to lose your life.
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HUSTLER
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December 31, 2021, 05:49:58 PM |
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Since bitcoins only exist in virtual form and are encrypted by their very nature, they are extremely secure. ... If you pass away without leaving anyone the private key, your bitcoins effectively become inaccessible to anyone. One of the solutions to making sure your Bitcoin isn’t lost forever is to outline the details of what you’ve got stored on the blockchain in your will and, at the very least, letting your family know you’ve got crypto stashed away.
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syedakhlaque
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January 01, 2022, 06:22:04 AM |
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The bitcoin if you will die will go to your heirs according to the rules and regulations. But it is important that you tell your family about your passwords and pins in your life. If they are in your trusty. But if they are not trustable in any way then you can put your will in some locker or safe that can be read after your death. You can tell about Bitcoin to your lawyer confidentially.
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Farma
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January 01, 2022, 11:18:13 AM |
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The right thing to do, educating those people around you to make sure that in case a sudden death happened, they know what to do.
It's no good just to let them know that you are investing in this industry and nothing else, but the good thing is to also guide them. Even interest is not there from them.
Knowledge is better than losing your hard earned investment when an accident happened or whatever kind of incident that caused to lose your life.
Well, in the end we do need a trusted person to teach about these assets. Well, however, it's hard to find trusted people, especially when it comes to money. so, things like this it's best to teach our families and provide education about what we have. it will be better when they can use it when we are dead. after all, it's all about education, and trust. maybe like telling the password from the ATM that we have to a trusted person who can use the money as we want.
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DoublerHunter
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January 01, 2022, 02:34:30 PM |
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The bitcoin if you will die will go to your heirs according to the rules and regulations. But it is important that you tell your family about your passwords and pins in your life. If they are in your trusty. But if they are not trustable in any way then you can put your will in some locker or safe that can be read after your death. You can tell about Bitcoin to your lawyer confidentially.
^ Lawyer. This is the right person that you can trust if you have heirs to your family, this will organize everything that you have left when you have passed away. But if your BTC does not have a private key, none of your family will recover, and even if your lawyer cannot recover too. Entrusting someone is very important but I think your wife/husband was closed to you will probably worth it to trust. Once private keys were lost all your BTC were stacked on the wallet forever and if your private key will put, on the other hand, it will always belong to them not yours because BTC does not have a mark that you can identify it is yours once it is transferred into another wallet that you dont have control, it will be no longer be yours.
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Argoo
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January 29, 2022, 03:12:48 AM |
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If someone hold their Bitcoin and no body know that has a bitcoin his wallet then nothing to do after his dead and your bitcoin will dead with your dead. So you can share your crypto fund with your family member.
Bitcoin does not die if, for some reason, access to it becomes impossible. It remains on the blockchain and will wait until access to it is resumed. In the future, quantum computers may be able to do this, the capabilities of which have been growing quite rapidly lately, but this will most likely happen in at least a decade. Due to the death of bitcoin holders and for other reasons, the number of lost bitcoins will constantly increase and there is nothing we can do about it. After all, we ourselves are banks for our cryptocurrency and are fully responsible for its safety.
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carlfebz2
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February 04, 2022, 07:34:09 PM |
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If you die then your BTC will be secure in your wallet. But if you tell your private keys and password to anyone then he will access you wallet otherwise your BTC will Secured in your wallet for life time.
Sounds pretty basic eh? but the question is on how you would arranged up on things on letting others knows your keys when you are still living? Of course you would really be hesitant on doing so because you dont like for them to access out your keys while you are still living and majority of us is a little bit secretive even into our loved ones which you wouldnt tend to tell on what you are dealing with. So this means that you would really be making some will incase you die, but hope that those information wont be leaked our opened out before you die.
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