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

[JoyMarsha]

There is a unpredicted end for our existence on the planet and while none of us knows when it will occur, if I were to pass away right now, my coins would be lost because I have not yet told any of my family members what coins I have or where they may locate my private keys in the event of the unthinkable.

Since tomorrow is not certain for any of us, after today, I believe that by tomorrow, I will do everything in my power to tell a close family member where I placed my seed phrase in case I pass away before my time.

[1714667768]

1714667768

[JayJuanGee]

There is a unpredicted end for our existence on the planet and while none of us knows when it will occur, if I were to pass away right now, my coins would be lost because I have not yet told any of my family members what coins I have or where they may locate my private keys in the event of the unthinkable.

Since tomorrow is not certain for any of us, after today, I believe that by tomorrow, I will do everything in my power to tell a close family member where I placed my seed phrase in case I pass away before my time.

You don't necessarily need to tell them.  Maybe you have one or two locations that you keep important papers, and you might tell them about the location of the important papers.  Also another thing is sometimes it might be problematic to put everything in one place, so it is not necessarily a good solution to reveal too much.. but yeah, if you trust them, you might give them the location of your papers and maybe even have your key divided into 2 or 3 parts and they would know how to put that back together.. again..

I doubt any of us have been suggesting that you have to do something right away, but many of us likely realize (just from the questions posed in this thread) whether or not our current plan (that we have put into practice) even is sufficient if we were either to keel over immediately or become disabled in such a way that we would not be able to communicate such relevant information... and in bitcoin there is more importance in the actual information compared with other areas because the item of value disappears upon your death if it is not communicated, but with property, or even commodities or equities, there is likely some kind of a physical manifestation of the item or a record that is held by a third party (so it will not disappear upon your failure to sufficiently communicate it)..

[btc78]

There is a unpredicted end for our existence on the planet and while none of us knows when it will occur, if I were to pass away right now, my coins would be lost because I have not yet told any of my family members what coins I have or where they may locate my private keys in the event of the unthinkable.

Since tomorrow is not certain for any of us, after today, I believe that by tomorrow, I will do everything in my power to tell a close family member where I placed my seed phrase in case I pass away before my time.

You don't necessarily need to tell them.  Maybe you have one or two locations that you keep important papers, and you might tell them about the location of the important papers.  Also another thing is sometimes it might be problematic to put everything in one place, so it is not necessarily a good solution to reveal too much.. but yeah, if you trust them, you might give them the location of your papers and maybe even have your key divided into 2 or 3 parts and they would know how to put that back together.. again..

This is what I did applied recently mate , because in the past i have told several people that closest to me about my investment and my keys in which I wrote here

There are no certain for me if what will happen to my Bitcoin incase i died on the spot now since i have limited person told about this.
But at least i am confident that they will follow my instruction and will also continue my legacy here in cryoto.
Not only for me but for the people i love the most.
Dying is part of us and no one can hide from that but at least the remaining living will enjoy what we have tried to risk and spent time here.

But as years passed by and now I am more educated , I do what you have said here , divided my keys into  3 and yes put them in different places where my important things being placed , and each of them was told of what important things they might find if ever something happened to me , of course with note attached that they need to be combined in order to get that funds , and since they are my family so I care nothing about what they might do even when I am alive  because those funds is literally for them .

[JayJuanGee]

There is a unpredicted end for our existence on the planet and while none of us knows when it will occur, if I were to pass away right now, my coins would be lost because I have not yet told any of my family members what coins I have or where they may locate my private keys in the event of the unthinkable.

Since tomorrow is not certain for any of us, after today, I believe that by tomorrow, I will do everything in my power to tell a close family member where I placed my seed phrase in case I pass away before my time.

You don't necessarily need to tell them.  Maybe you have one or two locations that you keep important papers, and you might tell them about the location of the important papers.  Also another thing is sometimes it might be problematic to put everything in one place, so it is not necessarily a good solution to reveal too much.. but yeah, if you trust them, you might give them the location of your papers and maybe even have your key divided into 2 or 3 parts and they would know how to put that back together.. again..

This is what I did applied recently mate , because in the past i have told several people that closest to me about my investment and my keys in which I wrote here

There are no certain for me if what will happen to my Bitcoin incase i died on the spot now since i have limited person told about this.
But at least i am confident that they will follow my instruction and will also continue my legacy here in cryoto.
Not only for me but for the people i love the most.
Dying is part of us and no one can hide from that but at least the remaining living will enjoy what we have tried to risk and spent time here.

But as years passed by and now I am more educated , I do what you have said here , divided my keys into  3 and yes put them in different places where my important things being placed , and each of them was told of what important things they might find if ever something happened to me , of course with note attached that they need to be combined in order to get that funds , and since they are my family so I care nothing about what they might do even when I am alive  because those funds is literally for them .

Don't blame me if you end up screwing it up.

because I have split mine into three, but I have several places that I have put them in terms of having more than one copy of the threes, so that if the house burns down there is a back up.. so you might have a more than one set of three that are in 2 or 3 locations.. .. so that if you lose any one part, you are not screwed.

 I know it is a lot of work, but you don't want to lose one of the three parts and then you are totally fucked because you don't have enough information to get at the keys. 

For sure there are a few ways to screw things up by providing too much information, by not providing enough information and then also by having your keys vulnerable.. and no one knows if their house is going to burn down (for example), but if all of the keys are in the house that burns down, or even if ONLY one of the three parts of the keys is in the house that burns down, then hopefully you have a back-up of that lost key somewhere (that did not simultaneously burn down) in order to still be able to get access to your coins.

[Odohu]

Don't blame me if you end up screwing it up.

because I have split mine into three, but I have several places that I have put them in terms of having more than one copy of the threes, so that if the house burns down there is a back up.. so you might have a more than one set of three that are in 2 or 3 locations.. .. so that if you lose any one part, you are not screwed.

 I know it is a lot of work, but you don't want to lose one of the three parts and then you are totally fucked because you don't have enough information to get at the keys. 

For sure there are a few ways to screw things up by providing too much information, by not providing enough information and then also by having your keys vulnerable.. and no one knows if their house is going to burn down (for example), but if all of the keys are in the house that burns down, or even if ONLY one of the three parts of the keys is in the house that burns down, then hopefully you have a back-up of that lost key somewhere (that did not simultaneously burn down) in order to still be able to get access to your coins.

It feels good to understand you have actually done something about this. You know we have been on this issue for a while now, with several options suggested.

because I have split mine into three, but I have several places that I have put them in terms of having more than one copy of the threes, so that if the house burns down there is a back up.. so you might have a more than one set of three that are in 2 or 3 locations.. .. so that if you lose any one part, you are not screwed.

In our previous discussion, I never read where anyone mentioned a case of accidents such as you have mentioned here. This is actually an important consideration because a situation where one implemented one of the method suggested which is burying the details of the wallet in the room only to be broken when the time is right, we never considered the case of incidents such as fire outbreake, earthquake and others. Maybe this aspect of spliting the portfolio and keeping the keys in different places is actually good.

[HelliumZ]

So the basic question in the poll is not about what you have in mind, but of what would really happen if you suddenly passed away right now…

Note1: The proximity of Halloween retriggered the question in my mind today, alongside this thread: What happens to my bitcoin if I die today?  

Death is a God-given eternal truth that man can never escape. In my life also the hard truth real situation called death will happen today or tomorrow. In this real life people leave behind something valuable to ensure a future for their family and children.

If a person leaves physical property like money, gold, land, real estate, property etc. in the bank after death, it is possible to recover it. An external consent letter or deed for this makes it easy to recover these properties. But when people hold virtual property such as Bitcoin and need to store a private key or password for it, Seeds phase if these important security measures are not taken then it will never be possible to recover the Bitcoin held or left.

Yes but this is no exception in my case rather I have physically stored proof of Bitcoin holdings in a notebook for the better lifestyle of my family and have shared this document with my important family members so that after my death they will have access to it. My remaining bitcoins can be recovered and used for family purposes.

[DapanasFruit]

Currently, I am not holding any significant Bitcoin or any cryptocurrency for that matter so I am not so much concern with the idea. Anyway, I am leaving my notes so in case something can happen my family can see how they can be able to retrieve some coins I left after selling them last month. Now, for people who are holding a significant amount of cryptocurrency, this is a serious concern and one must have in place just to be sure that the assets are passed to the right heirs and not just languished in the digital jail and be worthless.

[JayJuanGee]

Currently, I am not holding any significant Bitcoin or any cryptocurrency for that matter so I am not so much concern with the idea. Anyway, I am leaving my notes so in case something can happen my family can see how they can be able to retrieve some coins I left after selling them last month. Now, for people who are holding a significant amount of cryptocurrency, this is a serious concern and one must have in place just to be sure that the assets are passed to the right heirs and not just languished in the digital jail and be worthless.

You are not really saying anything meaningful DapanasFruit - except that you are dumb.

Both for equating this thread with crypto.. when many of us are neither talking about crypto or give any shits about shitcoins.. .. even though sure, they might have some value that could be passed down.

So yeah, no problem with you selling your various shitcoins.. but in terms of bitcoin we are likely in buying season rather than selling season.. so anyone who knows anything about bitcoin should at least try to have a few, and most likely it takes a while to build a stack, so if you are a low coiner and/or a low coiner right now, you probably should be thinking about getting some BTC.

And surely some people might take several years to build up their BTC holdings to a meaningful amount because so many people might not be in a position to really lump sum invest into bitcoin, so it could take years to really get to a meaningful place in terms of your BTC stash.. .. and also time in the market tends to be a better thing to shoot for rather than timing the market, even though at this time, it would be better to have had spent a few years stacking sats rather than lump summing in, even though you likely could buy the same number of coins as the person who spent 3 years stacking sats for around the same average price as they got.. which also makes it seem like a decent time to lump sum buy into bitcoin if you were to have lump sums.. but yeah, everyone needs to make those kinds of choices, which is part of the reason it becomes way easier to build your BTC stash over several years and to show some conviction and maybe not even much if any concerns about BTC price volatility, as compared to someone who might lump sum in with the same amount of money that someone of similar economic stature spent three years buying  BTC on a weekly -ish basis.

[AHOYBRAUSE]

Who got this thread out of nowhere? 

Well, if I suddenly die my wife would be more than able to manage funds sitting in different wallets.
Over the years she got very familiar with crypto, having a short unsuccessful hype in investing in NFTs and now getting paid for her side translation job in USDT.

So I am not worried if anything happens.

But for normal people maybe they should set up some kind of plan/info for the people that would inherit their assets since it might be too much to handle maybe.

[DaNNy001]

Who got this thread out of nowhere? 

Well, if I suddenly die my wife would be more than able to manage funds sitting in different wallets.
Over the years she got very familiar with crypto, having a short unsuccessful hype in investing in NFTs and now getting paid for her side translation job in USDT.

So I am not worried if anything happens.

But for normal people maybe they should set up some kind of plan/info for the people that would inherit their assets since it might be too much to handle maybe.

That's cool for you but I think not everyone family is well opportune to be like this. Well as for me I think if I probably die now the only person that might even have any idea of my bitcoin holding would probably be my friend and cousins who are also bitcoin enthusiasts like myself but I think they would probably have no way accessing it because of my seed phrase and key to the wallet. So I think I will start something that will make my son to be a little bit interested in crypto affairs but don't want to bother him though as he is still enjoying his young age.

[AprilioMP]

I just found this thread about a Halloween inspired poll and it's great for discussing what one would do if the person who owned Bitcoin suddenly died.
A 3 year old topic has found life again.

I want the bitcoin I own to be continued by people who have the same understanding as me about bitcoin, of course people I trust.
Bitcoin is the best hedge asset that can be used for payments and can be used as an investment asset.
I don't want assets like bitcoin to become a treasure left in a wallet that cannot be passed on as an inheritance.

Currently, I have prepared all the preparations to continue.

[348Judah]

If today anything happens and am no more, then am rest assured that my family will take over the bitcoin i left behind for them, as a family, my wife knows about the worth of my bitcoin since we both work out to struggle the investment together, not only that, it is her responsibility to let the children also have control over some portion of it, this is money that we have in a digital form, we cannot expect someone to die and left nothing for his family to fall back on if it were to be fiat currency, they will definitely go to the bank to make such claim.

But with bitcoin there's no need of going through the institutions procedures anymore, that's why It's a decentralized digital currency, except if i have a serious issues with the family that may not warrant me to do so in leaving down my financial heritage for them.

[Outhue]

So 16.3% of people believe that their Bitcoin will be lost if they die because no one has access to their private key, that's just the way it is, because so many people don't have those they can trust around them, I know how it feels, some are waiting for your demise to take over your things, if you can spot them now that you are still breathing, you won't be able to leave your private keys for such people, like I used to say, home is not home for everybody.

Unfortunately many Bitcoin will get lost on the long run, due to death and no one will be able to access the wallets again, I pray and hope that we all enjoy the fruits of our labor, it's not easy and sometimes it's cruel to be alive in the world today, still we have to be thankful.

My advice to all of you who have no one you can share your private keys with is to enjoy your lives while you can, we came with nothing and we shall return with nothing, while you guys are grinding so hard to become a better person always remember yourselves and spend on yourself, death is the only debt we will all pay when our time is up.

[GigaBit]

I just found this thread about a Halloween inspired poll and it's great for discussing what one would do if the person who owned Bitcoin suddenly died.
A 3 year old topic has found life again.

Though it is an old topic but I can estimate that there are still many investors who are not aware. We know we won't live forever but we don't want to bring this fact in front of us. There are a large number of investors who decide to share my key or password with my coolest person but if suddenly die what will be happen? How much a family can suffer but we have nothing to do. We are still alive but not taking any quick action. It is our fault. Not only that, we should know how aware the people we are going to keep our keys and passwords. It is not the case that I only gave the necessary keys or password and my responsibility is over. Because if the person I gave the password  but he or she can not use it then what's the use of that wealth? So whoever I give the passwords or phrase to someone should be given an idea of how to use them. So that he or she can properly benefit from this wealth.

[philipma1957]

I am more prepared then when this started. I would like to think most of the coins are recovered if not all.

Except for two Eth which are stuck in an old wallet that I can’t open.

[rachael9385]

Even if anything happens to me today, I will not be scared of losing my Bitcoin because my partner, who has already seen my seed phrase, feels that they are just words. There are some cases where, even if someone is noticing a strange thing in his health, he can try to tell some of his family about his secret, so I believe if it  might happen to me just like I already said, as I will tell my partner about the key and how to go on it, but if by any chance I don't have such an opportunity then my lawyer can ready my will, although, I might lose the coin if the person I am hoping for to take a good advantage over the BTC don't have good knowledge about Bitcoin.

However, my partner doesn't have good knowledge of Bitcoin, so I really think now is the best time to tell him about Bitcoin to see if he would be interested in taking it and also take advantage of Bitcoin. Besides, now is the best time to buy Bitcoin and not sell it. Selling Bitcoin now will not be a good decision, but buying more now will be the best idea.

[btc78]

Don't blame me if you end up screwing it up.

how could I blame you when I completely trusted you as my mentor here?

I have my own decision when i invest here in crypto so what more when we are talking about how saving mine for my love one?

because I have split mine into three, but I have several places that I have put them in terms of having more than one copy of the threes, so that if the house burns down there is a back up.. so you might have a more than one set of three that are in 2 or 3 locations.. .. so that if you lose any one part, you are not screwed.

will completely take note of these mate because that does not come to mind that I need to have several copies though I have 2 copies each and yes that  is not assuring me of how to keep them safer.
once again you prove me how good that i keep reading your posts each time I come across .

[GideonGono]

I am sure that all of my crypto would be passed down to my relatives by the help of my brother.
He knows how to use crypto wallets that I am currently using ane same goes with him, the only difference is that his wife also knows how to access his crypto wallets.

[JayJuanGee]

Don't blame me if you end up screwing it up.

how could I blame you when I completely trusted you as my mentor here?

I don't mind trying to help and to give some ideas of what members might be able to do.. but frequently what I say would not necessarily be a step by step guide, and when you posted your response, I had seen some possible dangers for you and/or for anyone else if they were to split their seed words into three parts and potentially NOT have any back up and lose one of the parts... so I would not want to be blamed because I might have had inspired the idea but I did not provide all of the details and/or even perhaps that I had left out some key parts, too.

I have my own decision when i invest here in crypto so what more when we are talking about how saving mine for my love one?

I am l glad that you are exercising your various own decisions, and hopefully that does not involve investing in crypto...   fuck crypto..

on the other hand if you are talking about bitcoin, then that has a lot of potential to provide you and/or your family many more options to invest as compared to not investing, as many of us in the forum likely realize.

because I have split mine into three, but I have several places that I have put them in terms of having more than one copy of the threes, so that if the house burns down there is a back up.. so you might have a more than one set of three that are in 2 or 3 locations.. .. so that if you lose any one part, you are not screwed.

will completely take note of these mate because that does not come to mind that I need to have several copies though I have 2 copies each and yes that  is not assuring me of how to keep them safer.
once again you prove me how good that i keep reading your posts each time I come across .

Well, you have to think about what might happen to one copy.. so let's say that you have one copy in various parts of your house.  The second copy should not be in your house because if your house burns down then you would not have had been advantaged by having two copies.  Houses burn down all of the time.  Even in your house, you have to make sure that you try to put them in places in which they are not accidentally going to get thrown away or mistaken for something else and destroyed or go missing beause of that mistake (or where they are kept).

Now if you have some second location, then you can put your parts of your keys there.. with the same criteria that the location needs to be somewhat secure enough that it is not going to get destroyed or you will know if that filing cabinet gets cleaned out (for example)... and maybe you would want to use the services of a safety deposit box or an attorney or an accountant, but they would likely ONLY have one of the keys. and surely you want to try to make sure that you don't lose access to them, so that if your house burns down then you become dependent on all three of your second copy still being intact enough that you have to retrieve them immediately and make a copy so that you can make sure that you continue to retain at least two copies, especially if you know that one of the copies might have been lost or compromised.

Once you go past two copies, you may well run into some logistical problems in retaining all of them.. and then surely every  time some updates might take place (especially if you might be doing this with more than one seedphrase/password), then you will need to make sure to update all of them.. so if you end up having one copy that is kind of a moving around copy and then two others that are kind of long storage copies, you might update your moving around copies on a very regular basis, but your long storage copies might ONLY get updated (or synchronized) with your moving around copy about once or twice a year, and during the periods that the storage copies are not being updated then ONLY your moving around copy would have the latest updates... and surely I am not even sure if this is the best system, even though it is a possible system.

I am sure that all of my crypto would be passed down to my relatives by the help of my brother.
He knows how to use crypto wallets that I am currently using ane same goes with him, the only difference is that his wife also knows how to access his crypto wallets.

Hopefully you are not fucking around too much with crypto, and you are actually buying and investing in bitcoin.

Another thing is that if you are using such vague terms like "crypto" you probably don't really know what bitcoin is, so you might want to make sure that you understand, and also if you meant to talk about bitcoin, then probably you should say that... but yeah, if you are holding various shitcoins, then be careful about how much of that you are holding.  I usually suggest no more than 10% into shitcoins in terms of the size of your bitcoin investment, and surely it can take a long time for people to build up their bitcoin investment, so sometimes people will get distracted into shitcoins and even thinking that shitcoins are just another variation of bitcoin, which is not very good and/or clear ways of thinking... especially the need to both prioritize bitcoin and to make sure when you talk about it you make sure you differentiate (and make clear) what you mean, especially when using a dumb, vague and misleading term such as crypto that is used by a lot of people who don't know shit or they are trying to mislead or they don't realize that they are using dumb, vague and/or misleading language..

[btc78]

Don't blame me if you end up screwing it up.

how could I blame you when I completely trusted you as my mentor here?

I don't mind trying to help and to give some ideas of what members might be able to do.. but frequently what I say would not necessarily be a step by step guide, and when you posted your response, I had seen some possible dangers for you and/or for anyone else if they were to split their seed words into three parts and potentially NOT have any back up and lose one of the parts... so I would not want to be blamed because I might have had inspired the idea but I did not provide all of the details and/or even perhaps that I had left out some key parts, too.

I have my own decision when i invest here in crypto so what more when we are talking about how saving mine for my love one?

I am l glad that you are exercising your various own decisions, and hopefully that does not involve investing in crypto...   fuck crypto..

on the other hand if you are talking about bitcoin, then that has a lot of potential to provide you and/or your family many more options to invest as compared to not investing, as many of us in the forum likely realize.

Sorry for not being specific talking about Crypto but indeed it is Bitcoin that I have been investing all My available funds now (though there are still few coins that i still holds since I bought them years ago and still waiting for my capital to recover) but once i take back my capital all of those will be converted into Bitcoin  as some says never put all your eggs in one basket , but for me it is better to put in one basket at least i can secure them easily .(and that is Bitcoin only)