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Author Topic: Who is most reliable person?  (Read 621 times)
Greggry (OP)
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March 19, 2023, 08:28:03 PM
Last edit: March 19, 2023, 10:31:42 PM by Greggry
 #1

When it comes to bitcoin wallets is totally a kind of private pants for females and boxers for male. Bitcoin wallets is like ATM pin which is assigned to individuals which banks do not respect another person on your behave. Is personal identification number, that's what bitcoin wallets, private keys and seed are. But to some point because of love, trust and spouse lips, we give out our details freely for this person to access.

Can we also show our bitcoin key to someone closer, maybe love, spouse, next of kin?
Better still between someone; who introduced and taught you about bitcoin, a friend or family member and your children who's most preferred and reliable person to give out our information about your bitcoin?
Even if you use Bitcoin through Tor, the way transactions are handled by the network makes anonymity difficult to achieve. Do not expect your transactions to be anonymous unless you really know what you're doing.
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March 19, 2023, 08:53:14 PM
Merited by pooya87 (2), ABCbits (1)
 #2

You are barely making sense, but I can guess what you are trying to ask.  Smiley

To answer your question, I think sharing your private key with someone is a big deal as they will have full access to your bitcoins. If you want to do so, make sure it is someone you really trust and who understands all the risks. It might be tempting to share it with a family member, but they might not know how to keep it safe. As for someone who introduced you to bitcoin, I see no reason why you would do that. If you want to show gratitude, there are alternative and safer ways to do so. So, think carefully before sharing your bitcoin key and make sure you are comfortable with the person you are sharing it with.

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March 19, 2023, 08:54:15 PM
 #3

Giving out your private key or seed phrase means you want the person to have access to your assets. Once they have it they can carryout transactions without your consent so its best to keep it to yourself. Don't make the mistake and give your keys to anyone especially the person who taught you about bitcoin.
Trust No One because money can be tempting so expect the worse whenever you share your keys with anyone.

R


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March 19, 2023, 09:55:43 PM
 #4

Trust can be betrayed most times, so sharing a private key out of love is risky, but by the way, before taking such a decision, you should probably know the person you are dealing with well before disclosing your key to them. If it's your spouse, then you and her may have known yourselves so well for years of marriage because if it's a new marriage, you never know if there will be a breakup. If you want to disclose your seed to your kids, then it can't be only one child you disclose it to. Unless it's only one child you have. So long as you are alive and healthy, you should keep your key to yourself. You could also write things down in a book to keep a record so your children or wife can access your crypto assets if anything happens to you.

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March 19, 2023, 10:34:11 PM
 #5

Better still between someone; who introduced and taught you about bitcoin, a friend or family member and your children who's most preferred and reliable person to give out our information about your bitcoin?
Giving someone your private keys or seed phrase cause they introduced you to Bitcoin or taught you about it is a terrible move and 9 times out of 10, they would rip you off.

Trusting a friend or family depends on your relationship with them. If they've proven to be trustworthy you can give them a copy of your backup for safekeeping and as a contingency, should anything happen to you.

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March 19, 2023, 11:07:33 PM
 #6

It's a matter of trust and if you choose someone who is reliable and trustworthy, the one who understands the importance of keeping this information secure, then, there's no problem with me entrusting my valuable asset with this person.  There's always a risk for this and accept those possible circumstances if you made this decision, your bitcoins could be at risk of theft or loss.

So who is the most reliable person IMO?
Your partner in life, husband or wife.  When you pass away, that could be for your children's future funds.

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March 20, 2023, 01:11:45 AM
 #7

Trust we have to know who is most relied on in your family but for other people I think it's a big deal because they can access bitcoins anytime if you give them a copy of the private key even though he has taught you about bitcoins to understand, but keep in mind other people's trust will not be entirely good, in fact when they see a lot of your assets they will act to take your bitcoins.

The safest is never to share the private key with anyone even if he is not your real partner.

At the moment I still haven't shared the private key including my wife who I love at the moment I'm still keeping it longer and it's still being resolved, but most likely later I will share the private key with my wife for my children later when I'm getting old.

Until now, it is still holding itself for the private key that is owned.

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March 20, 2023, 01:17:23 AM
 #8

Can we also show our bitcoin key to someone closer, maybe love, spouse, next of kin?
Better still between someone; who introduced and taught you about bitcoin, a friend or family member and your children who's most preferred and reliable person to give out our information about your bitcoin?
I would like to not let anyone know that I am investing in Bitcoin and surely never let them know about information of my bitcoin. I guess by "information about your bitcoin", you meant that it is about wallet private key or mnemonic seed, didn't you?

If you mean this, it is very risky and never is a thing you should do. Except if you plan to give that amount of bitcoin to someone as inherited gift for them.

You can create a new wallet with an amount you want to give away to someone, with locktime.
Using Locktime for inheritance planning, backups or gifts

R


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March 20, 2023, 01:52:06 AM
 #9

Can we also show our bitcoin key to someone closer, maybe love, spouse, next of kin?
Better still between someone; who introduced and taught you about bitcoin, a friend or family member and your children who's most preferred and reliable person to give out our information about your bitcoin?

It's generally not recommended to share your Bitcoin private key or any other sensitive information with anyone, including your loved ones or family members, unless it's absolutely necessary. Your private key is essentially your password to access your Bitcoin, and if someone else has access to it, they can potentially steal your Bitcoin or misuse it.

However, you can share information about your Bitcoin with someone you trust, such as a close family member or friend, without actually sharing your private key. For example, you can tell them about your investment in Bitcoin, how you manage your Bitcoin wallet, and your overall strategy for buying, selling, and holding Bitcoin.

If you want to ensure that your Bitcoin is passed on to your loved ones in the event of your death, you can consider setting up a legal will or trust that includes instructions for how your Bitcoin should be transferred to your heirs. You can also consider using a multi-sig wallet, which requires multiple private keys to access your Bitcoin, and give one of the private keys to a trusted family member or friend.

Ultimately, the decision to share your Bitcoin information with someone is a personal one that should be carefully considered based on your individual circumstances and the level of trust you have with the person in question. It's important to remember that once you share your private key or any other sensitive information, you lose control over your Bitcoin and the risks associated with it increase.
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March 20, 2023, 03:05:11 AM
 #10

Can we also show our bitcoin key to someone closer, maybe love, spouse, next of kin?
For now, it is not time to give the private key, seed phrase to all of them. It's just time to let them know that we have their most valuable asset. Giving them the seed phrase or private key is the same as giving them the opportunity to access something valuable.
Personally, I would give it to a loved one like my wife someday and she's the one I trust to have it, even though no one I trust should have access to it at first.

R


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March 20, 2023, 03:09:35 AM
 #11

If I'm not mistaken, the essence of your question is who can be trusted to hold the private key if something happens to you. This question is very common, the answers are always varied. Early anticipation is needed to save assets if something happens to you, your wife, children, brothers, sisters and other family members can be used as trusted people to hold the private key.
The child will inherit all the wealth you have, he deserves to be entrusted with accessing your wallet. If your child is still small or don't understand how to access a wallet, a wife is someone you can trust.

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March 20, 2023, 03:39:30 AM
 #12

When it comes to bitcoin wallets is totally a kind of private pants for females and boxers for male. Bitcoin wallets is like ATM pin which is assigned to individuals which banks do not respect another person on your behave. Is personal identification number, that's what bitcoin wallets, private keys and seed are. But to some point because of love, trust and spouse lips, we give out our details freely for this person to access.

Can we also show our bitcoin key to someone closer, maybe love, spouse, next of kin?
Better still between someone; who introduced and taught you about bitcoin, a friend or family member and your children who's most preferred and reliable person to give out our information about your bitcoin?
Why not? Each bitcoiner has the right to do with his btc whatever he pleases and can share information about his keys with anyone. Of course, this should be a trusted person to whom you are basically ready to leave your btc as an inheritance or simply give it away. It doesn't matter at all who it will be, a relative, friend or stranger. An important point is trust and willingness to give him bitcoin. In particular, one should not forget about this person's awareness of BTC. He should know the basics of using and safely storing bitcoin so as not to lose it.

Just make sure you choose the right person. I see it as a combination of trusted custodian and heir.

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March 20, 2023, 04:01:42 AM
 #13

Can we also show our bitcoin key to someone closer, maybe love, spouse, next of kin?
Better still between someone; who introduced and taught you about bitcoin, a friend or family member and your children who's most preferred and reliable person to give out our information about your bitcoin?
It depends because everyone is different in carrying out this opinion and some don't even give it to anyone even though he has a wife and children to inherit it, depending on whether he wants to show it to those he loves or not as long as it's right according to you.

More, don't talk about bitcoin to anyone, especially with the amount shown, just give me the seed phrase if you really love it, but the closest relationship is children, so they can share the seed phrase with them when they grow up.

I don't want to be rash I will be very careful and careful when giving seed phrases even though it is my child, I will definitely test him how he can do that well and the bitcoins I give him.

I don't want to take a big risk, so I need longer deliberations.

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March 20, 2023, 06:31:04 AM
 #14

Can we also show our bitcoin key to someone closer, maybe love, spouse, next of kin?
Better still between someone; who introduced and taught you about bitcoin, a friend or family member and your children who's most preferred and reliable person to give out our information about your bitcoin?
The only one who can answer and decide that is you because you know those people and how they are, but I personally woulnd't trust anyone else other than my wife and my parents with something as sensitive as this is.


Giving out your private key or seed phrase means you want the person to have access to your assets. Once they have it they can carryout transactions without your consent so its best to keep it to yourself. Don't make the mistake and give your keys to anyone especially the person who taught you about bitcoin.
Trust No One because money can be tempting so expect the worse whenever you share your keys with anyone.
While people should be generally careful regarding these things, I don't think that its a smart thing to not have a contingency plan in case something happens to you. In my case, my wife has the access to the Ledger's seed phrase and instructions what to do in case something happened to me as it would suck if all my effort in all these years goes in vain. Now someone might say "your wife might end up stealing your crypto and running away" and while that's true, if I don't trust her with money, why the hell would I even stay married to her?


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March 20, 2023, 07:17:40 AM
 #15

Bitcoin wallet private keys are far more important than your bank's ATM pin because if you lost your ATM pin it can be recovered, all you need to do is visit the bank, you can even decide to change your ATM pin code if you wish but you can't change your private key, the numbers will remain the same forever until you are done with the wallet.

The reason why you would want to share your keys with spouse or friends is because you trust them, which is not a bad thing, but I prefer telling them to open their own wallet and send what I can to them, especially friends, you can't trust any.

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March 20, 2023, 07:40:57 AM
 #16

The person who taught you about Bitcoin isn't always a genuine person, I think you've no experience about someone you trust backstabbed you.

If you have a wife and child, it's better to teach your wife first and then when your child gets older, you can teach him because you need to pass your Bitcoin to the next generation if you don't want to lose your coins. It's all depends on your child how he will use your coins, all you need is trust him.

R


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March 20, 2023, 08:20:29 AM
 #17

Can we also show our bitcoin key to someone closer, maybe love, spouse, next of kin?
Better still between someone; who introduced and taught you about bitcoin, a friend or family member and your children who's most preferred and reliable person to give out our information about your bitcoin?
There is no one trustworthy enough to share a phrase and private key with. Even the person who introduces me to Bitcoin knows the risk of sharing such data with him/her, and as such, even if one wants to make such a mistake by sharing the key phrase with his/her mentor, the teacher will definitely reject it, if he/she wants to be on the safe side. Because if I have access to your private key or phrase and something happens to your holdings in that wallet because of your carelessness, your first suspect will definitely be the person whom you know has access to your key, and that will spoil the good the person has done for you. To keep a healthy friendship or relationship, we should always keep those from them.
 
But to some point I do recommend sharing key phrase with a few trusted party either spouse, blood or anyone just as @Rikafip have said, who you know can grab access to your wallet when one have some kind of issue which might restrain him access to the wallet, either bad health condition which ever the case maybe.

R


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March 20, 2023, 08:37:26 AM
 #18

Can we also show our bitcoin key to someone closer, maybe love, spouse, next of kin?
Trust is what really matters in life and the only people that we can trust are our closed ones especially our spouse. Your phrase seed shouldn't be exposed to anyone irrespective of whom the person is to you. I can only let my husband know about my seed phrase because he know the risk involved in disclosing your seed phrase to someone.

Better still between someone; who introduced and taught you about bitcoin, a friend or family member.
You don't have any reason to disclose your seed phrase to someone that taught your about bitcoin because you don't owe him anything and he might end up playing smart on you,since betrayal is part of human nature. If your seed phrase is disclosed to someone that is not part of you,it is a must that your coin will be stolen either by the person that you disclosed it to,or someone that will have access to it from the person that you disclosed it to due to carelessness.
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March 20, 2023, 08:50:44 AM
 #19

When it comes to bitcoin wallets is totally a kind of private pants for females and boxers for male. Bitcoin wallets is like ATM pin which is assigned to individuals which banks do not respect another person on your behave. Is personal identification number, that's what bitcoin wallets, private keys and seed are. But to some point because of love, trust and spouse lips, we give out our details freely for this person to access.

Can we also show our bitcoin key to someone closer, maybe love, spouse, next of kin?
Better still between someone; who introduced and taught you about bitcoin, a friend or family member and your children who's most preferred and reliable person to give out our information about your bitcoin?

Well it's your possession and asset and only you can determine who to give and who not to give.
I personally think giving out your seed phrase or pass key solely depends on how much trust you might have for the next person and how secured you think your possessions might be with them else it's not advisable to give out your private keys to someone else as it gives automatic access to your coins and holdings.

I've seen cases of people who give out their private keys to their spouse not just for the sake of trust but just incase of neccesity or demise of the original owner, the spouse would still have access to the coin rather than loss all of its possessions.

Please because someone introduced you to Bitcoin or helped you create a wallet isn't a guaranty for you to release your private key to them except you're ready to face the consequences just incase things go wrong.

In all, please do well to key your seed phrase safe and private as there is this saying "not your key, not your coins"

R


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March 20, 2023, 10:43:49 AM
 #20

As you can see, everyone has different opinions, and this will always be the choice of the owner himself. If you own a significant amount but are sick and do not know how long you can last in this life, you can entrust your keys to your loved ones, wife, husband, children, and friends. People should always have a person they can trust. If there are no such people, you can feel sorry for such a person.
But if you are young and full of health, and are just at the beginning of investing in bitcoin, try to rely only on your strength. Become your own bank, as Satoshi himself intended.
In any case, Bitcoin is good because it always leaves the choice to the person.

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