Halloween inspired poll –would your Bitcoins get passed on if you suddenly died?

[Peanutswar]

My family really don't know what is all about bitcoin and altcoins but somehow I already left a note to my wallet information, account, address, and more related kinds of stuff on the world of cryptocurrency and I just put it into a piece of paper this paper is not only one, two but four copies, why? so let them know I have this kind of money on my computer and other devices logged into my account to make sure even there is unexpected things happen they can use my funds for their future and to my funeral. Also, I separated all of the coins to my wallet so equally distributed this is for person1, person2, and person n...

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[samputin]

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I understand your concerns but if I already spend my coins for my family, I don't think they have any reason left to try to 'steal' them behind my back. It seems I trust too much, but I have only given the details to 2 people I blindly trust. The worst is, if they both die with me, then the btc stays in the wallet forever because nobody except them knows about my savings.

Gosh. I didn't think of that one. There are only three people in my life who knows about my wallet keys. And if they die with me suddenly, then that is indeed a worse case scenario.

But assuming and hoping that that doesn't happen, my BTCs will be passed on to those three people I know. I'm sure of that because I already told them about it. But if they'll pass it on is the question. I don't even know if they'd still continue with crypto or just spend it all when I'm gone. Hmmm. This really got me thinking.

But, knowing those people, I'd go with 60% certainty that my BTCs will be passed on by them even on another generation. Those people are interested in crypto just like me. And one of them is actually the one who got me here in the first place. So yeah, 60 for me is good. (I just really hope they'd pass it on and make use of it the wise way. )

[Gozie51]

Thinking about that too for sometime ago and taking action to that has been the cause for the delay. I guess it will be very disappointing for people to die without making out a will. We should consider our coins as assets we need to pass over to the living.

[Cnut237]

I have only given the details to 2 people I blindly trust. The worst is, if they both die with me, then the btc stays in the wallet forever

I tried to get around this by giving details to a couple of (very close) relatives who rarely meet one another, so are unlikely to be in the same place at the same time should some horrible event occur. Of course we can never really be 100% sure of anything happening or not happening in the future, so I went with 90% in the poll.

[ReiMomo]

I choose and voted for 100%.
I'm certain that they will have an access to my bitcoins if I passed anytime since bitcoin is quite different from my other assets which the law can easily identify who is the righteous inheritor of my assets while with bitcoins no laws can break the key and get access on it.

And for me not to let my bitcoins go to trash when I die as early as today my kid knows my password anyway at the end of the day it is still my kid will benefit all my hardship and the only thing I must do is to let him know and learn how to value these assets that he will inherit.

[FullNode]

A person in my family has all the instructions on how to do it to operate with the wallet.dat, something like the bitcoincore manual, I hope if one day the time comes I know how to recover my sats

[pixie85]

I told 1 member of my family about it and he knows the password to my wallet and also has a copy of one of my wallets on his computer as backup.

I'm not sure if they'd find a way to access every single exchange account and wallet that I have but they're smart and resourceful, I believe in them.

[fillippone]

This is a very interesting question.
A very few relative of mine know I own bitcoin (a couple even know my secret identity- Fillippone).

My bitcoin stash seed is printed on paper in a safe box, with a mobile number next to that.
In case of something bad happen to Fillippone all they have to do is go to the safe box and collect the printed piece of paper, then call the mobile.
I trust both the relative not to grab the seed without my consent, and the person involved in the recovery not to abuse my trust ( i told him he can get a 10% cut on the recovered amount).


A few time ago I opened a thread a few time ago on a similar subject:
Gifting satoshis to future generations

I think my favourite solution, when times will come, is having a "dead man switch". Not viable for the moment.

[dothebeats]

I live far from my closest relatives, though in the event that something unfortunate happens to me, I do have lots of clues as to how would they access my humble stash of coins. I also am planning to have a safety deposit box on a bank that would only be released upon my request or on my untimely death to my relatives. I’m not a greedy scum, and I would rather let them experience some kind of fortune even just for a little while than letting the keys forgotten and essentially being lost without anyone to access it.

[redsun114]

I think the only way that we are going to be able to secure our assets for our family in future is to stop keeping secrets, no other way that you’re going to be able to secure it, because if it’s a secret there is no way your family will be able to discover it if you’re nowhere to be seen tomorrow.

If you’re storing cryptocurrency it’s best that you let your family know about it and teach them about cryptocurrency and how it works. If your private keys are written on paper and stored in a safe, it’s best to let them know that it’s not just a piece of paper with some worthless words written on it, but something with value.

[Genemind]

I have shared my wallets details with my partner but to be honest, there are still holdings that I have which she doesn't know about. Also, her knowledge about accessing crypto wallets and exchanges is still limited so if something would happen to me, I'm still not sure if she could access all of it. Op has just reminded me not to keep too much secrets because we'll never know what may tomorrow bring. It's still necessary that we'll have a single trusted person who could handle all our holdings and savings if unexpected things happen to us.

[Oshosondy]

I have come to think of it, now I have been educating my family about bitcoin in a way it will be impossible or difficult for them to lose access to the bitcoin I am holding, they know the value of seed phrase already, my family know what to do and how they can access my seed phrase but in a way it will not be possible until something happens. Giveing them a way they can access it is the best for me, but not until something happen like death.

[Coyster]

For now, I've not given any one access to my funds, though there is one or maybe two people in my life that I am sure know where my seed phrases are, they have never touched them, nor will they ever try to import them to spend them behind my back (at least I trust them that much). To be more understandable, what I'm saying is I've never sat down anyone in my life and told them: here's my seed phrase/coins, do what you want with it if something happens, but one-two people in my life know where I always bring out my written down seed phrase and it would not be a problem for them to find it. If they'll be able to use it efficiently, the next paragraph states that.

It makes it interesting and it has made them to ask so much questions about btc, which I never make the mistake of not answering/breaking it down to noob level. They are still being educated by me, and they'll own their own stash soon, and may never even have to bother about mine when I'm no more (prolly after a hundred years from now ).

[dunfida]

I live far from my closest relatives, though in the event that something unfortunate happens to me, I do have lots of clues as to how would they access my humble stash of coins. I also am planning to have a safety deposit box on a bank that would only be released upon my request or on my untimely death to my relatives. I’m not a greedy scum, and I would rather let them experience some kind of fortune even just for a little while than letting the keys forgotten and essentially being lost without anyone to access it.

Letting your loved ones do able to access those funds is much more worth because its better that letting those coins to be lost forever.Of course we do think for whats the best and
only greedy person will just not tend to share it out even if its hes on grave.Having some safety box is also a good idea with enclosing all the necessary informations needed
for them to access all the wallets plus the instructions on what they should gonna do for them to cash them out.Im thinking up the same way too but now im
storing all information on different usb drive sticks and divided them in to 6 parts.

[goinmerry]

No time to be selfish. Let my family access all my cryptos once I left the world.

I know that even before, many already think of this. Never teach my family yet how they can access it but I told them that all my important files can be seen on my precious drive e.g passwords, important notes, etc. And in the case of Forgot Password, they more know the details of how to retrieve it.

Fortunately, it's not only me in our family who has an idea about this crypto thing so I'm sure my funds will be in good hands.

[BIT-BENDER]

This is an excitingly interesting question, a question that is Important but many like me have not asked ourselves and giving an answer to it, in between its creepy though lol, God grace we would live long.
 Now to the question -poll- I make this clear all the time I don't posses/have rich amount of Bitcoin just now -its hopefully going to go better- but that wasn't what the question asked.
This really gives me joy knowing that my Bitcoin won't be Lost and my heir would get to it, only my heir is ready for crypto-currency, I trust my heir so much -please this doesn't make trusting safe- but I have tested the person severally.
Well with thinking my heir would get it, and that am sure of

[ChrisPop]

The percentage is lower than 10% for me. It would be a great challenge for Sherlock Holmes himself to find the way to access my crypto belongings. This is a question we should all ponder about.

I wonder how many BTC could be forever lost in case of a war or a worldwide calamity. We should all take precautions for worst-case scenarios. You never know what awaits you at the corner of the street...

[Charles-Tim]

One of the best ways is to make use of multisig, in which M out of N users will still be able to access the funds after someone leaves the world, but, in this case, the hires will be able to know everything that is going on in the multisignature wallet, which can make it not to be a good option for many people, but this is one of the most effective ways. If you like the hires can know about the bitcoin, then it is fine. But one thing about multisig is that it has high transaction fees. But, with time, if BIP340- BIP342 is incorpotated into wallets, multisig transactions will be indistinguisable with normal single wallet payment.

Secondly, which is what I am even using, I make use of Shamir's secret sharing, it is also one of the best, this happens in a way seed phrase or private key is converted into n secrets, the secrets has shares, the shares are the secrets that are enough for the whole seed phrase or private key to be reconstructed. For example, I have four people to be able to take over my bitcoin if anything happens to me, I created five secrets with 3 shares, my four hires have one different secrets each and I have one, making the whole five secrets. So, if anything happens to two people, any of the remaining three will be able to reconstruct the seed phrase or private key. I have let them know about this, they are very conversant and they are not novice. With this way, I do not think my bitcoin can lost. All they need is three out of them to put three secret they have togeher to reconstruct the seed phrase offline using the Sharmir's secret sharing converter.

[posi]

This is a good question so we can educate ourselves about the things we need to do and be prepared for whatever may happen. However, i have the feels that Lauda goodbye post is what brings up this topic, it just my thought though.

With that been said, if it happens that I kick the bucket now my BTC will be passed on to my wife (automatically to my kids) cause it something i have discussed with her before and she totally aware of the private storage i used to save my wallet seeds but the coins i have on exchange cant be accessed.

[Lordhermes]

To be sincerely speaking, I voted 10% because its only a one friend of mine that really understand what bitcoin really is and how private key works. Truly, the thread touches and some dude might take it as a joke but it something we could take as serious matter. I am the last of a family of six of which none have knowledge of cryptocurrency, so if it happened to be that I kick the bucket today so my btc gone? No, I would take a step of teaching them about wallet recovery from now on using private key, although I know its dangerous sharing pk but its something it could be secretly expose to families, thanks so much DdmrDdmr for pointing out this.