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Author Topic: What happens to my bitcoin if I die today?  (Read 3663 times)
Oilacris
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February 13, 2022, 01:45:49 AM
 #481

-snip
Decentralized is very easy for the family to have access to their late husband bitcoin wallet without going to court to collect death certificate before they can have access to their father bitcoin wallet.

 Cheesy it seems very funny to me,
Yes, I agreed, It reminded me of how corrupt society we are.
When the main breadwinner of the family dies, if he does a DPS for the family, only the aggrieved family can understand how much suffering it takes to withdraw it.
Bitcoin can relieve us of all these problems. No Death Certificate will be required to withdraw the funds if someone handover the wallet files to his family before the death.
But the only problem you would really be having is to teach them on how to access those coins on the time you pass away which would really require out some basic
teaching about those needed information but the question is, how many people would tend to do so? Explaining or telling them about your wallet keys when you are still
alive? For sure you would really be hesitated on doing so thats why some people do end up on locked funds because they didnt to do so earlier.

this is the disadvantage of cryptocurrencies, being able to create a system that allows the person to die and those who are alive to benefit is something extremely difficult in the crypto world, I would not be surprised if in the future there are banks that play this role of holding cryptocurrencies and freeing up the beneficiaries in someone's death case

A bit contradictory because that crypto owner wouldnt tend to make use of these services if ever it would really be available because they would really be having that access to your crypto or neither they would have access on your wallet or totally they would require you do deposit into their bank address on crypto which is totally bullshit to consider out.

If you do die today then be sure that you had prepared out something that your loved ones could able to benefit out once you do die.No one really knows on when it would happen
but its better to be prepared than on wasting those coins that you do have.

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February 13, 2022, 08:28:33 AM
 #482

If theres no one knows about your bitcoin account, your bitcoin will be buried on your bitcoin wallet,or may be lost forever.And its going to be useless because you are already dead. Thats why you need to educate someone you trust, or some members of your family of how they can access your bitcoin wallet in case you die.
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February 14, 2022, 01:05:56 PM
 #483

Death is unpredictable and nobody can guess it. Giving trust to one person in the family is a very right decision, because control of your account or wallet is not only held by one person but your trusted person will also have control. Creating a form or list of accounts and passwords and private keys is needed, it will become a cryptocurrency will. If we don't do this and our wallets cannot be accessed by anyone, accounts and wallets containing bitcoin or other altcoin assets will be buried along with death.

You are right, and as much as I know that in this life all you can buy is money, plus nothing and if that is the case there is no point in being selfish with the people who have always been around us, as long as you can help others it is something that will be rewarded, whether in this world or the next, everything helps, if a person dies and does not leave their private keys it will only contribute to making the economy even more deflationary, it is not bad, but the idea is that at the time of die your loved ones have something to hold on to, if money was not enjoyed in life, there is no reason to be selfish, that's what I think.

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March 04, 2022, 03:35:10 AM
 #484

I am also thinking about whether to tell my family the key for the [Suspicious link removed]angement, but I still don't think it is very safe. Not just cryptocurrencies, I've also thought about all my assets, albeit for my children, but it's too early to declare. However, you can write your own keys and assets in advance in your will.
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March 04, 2022, 06:34:22 AM
 #485

If theres no one knows about your bitcoin account, your bitcoin will be buried on your bitcoin wallet,or may be lost forever.And its going to be useless because you are already dead. Thats why you need to educate someone you trust, or some members of your family of how they can access your bitcoin wallet in case you die.
In the end, we do need to tell someone about this, and most likely our family. however, they also need to know about this technology, so the first step that needs to be done is, provide them with education, after that choose someone who is really trusted who can use these assets for your family when we are no longer in this world. Yes, although it is difficult, but it must be done. personally, until recently, I also haven't even found the right person for it.

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March 04, 2022, 09:22:13 AM
 #486

If you die today, your bitcoin will die along with you if you don't tell anyone about your bitcoin.  And don't give anyone access to your Bitcoin. So you should tell your wife or your son or daughter or someone close to you about your bitcoins and tell them how to access your bitcoins or you can write everything down in a note so that they can be used by your descendants after your death.

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