If only property I have is bitcoin

[BlackHatCoiner]

Tell that to your brother / sister, and show them the basics; how to use a wallet, how to make a transaction, how to recover a wallet with seed phrase, etc. Obviously, don't do it if you don't have good relationships or don't trust them technically.

Do you really care that much about what happens to your Bitcoin investment once you're no longer in this world?

This guy probably got some serious sickness and shit his pants, so I don't blame him for doing that. Wouldn't you feel awful if a relative of yours passed away and all his wealth was donated to the Bitcoin network? 

[gunhell16]

Sometimes we imagine some mystery of life as we are still living, have you asked yourself of your cryptocurrency investment profit and lost way about if you live by ghost, again have you asked the mystery that behind your investment when it occurs to be profiting, right now I'm thinking to myself and my investment and if only investment I have is bitcoin and when I'm no more who will manage my bitcoin investment and how will my family know about my bitcoin investment. I was ill for some days and I asked myself a two questions base on my only investment bitcoin, the questions are.

1) since I'm ill should I show my family my seed phrase
2) if I die who will take over my bitcoin since nobody in my family knows my seed phrase.

So I was asking myself different questions because I have no wife and no child, then I began to think and be questioning myself if it will be good to at least tell one person in my family my seed phrase or should I keep having the perso secret of my seed phrase personal or should I keep my bitcoin document on my wardrobe were they can easily see my seed phrase, that time I was of full of thinking, thank God  I recover fully from the illness before i return to forum...no sympathy

You know, dude, I understand what you mean. For me personally, my wife doesn't know anything about seed phrases and passwords, not even about the crypto assets that I have, am holding, and will sell until the right time for the bull run. Now, I intend to tell her because I can't trust anyone with what I'm doing but her and my close friend.

Now in your scenario, if you have a lot of holdings of Bitcoins, the best thing you should do is make a will of testament. In that matter, who will you trust to give what should be said about the crypto assets that you have, from the seed phrase, private key, and password, and procedures on how to translate them into real money and even into the accounts where they will be converted, which are trusted exchanges in this industry?

[Solokan]

I think it depends on you whether you want to pass on your BTC to your family or not, but I think if you are interested, you can tell your relatives but of course you have to tell someone you can trust, but I'm glad to hear you You have recovered from your illness, and I think you still have great potential to be able to have children in the future, and of course you should not give up on living your life.

[Asuspawer09]

Sometimes we imagine some mystery of life as we are still living, have you asked yourself of your cryptocurrency investment profit and lost way about if you live by ghost, again have you asked the mystery that behind your investment when it occurs to be profiting, right now I'm thinking to myself and my investment and if only investment I have is bitcoin and when I'm no more who will manage my bitcoin investment and how will my family know about my bitcoin investment. I was ill for some days and I asked myself a two questions base on my only investment bitcoin, the questions are.

1) since I'm ill should I show my family my seed phrase
2) if I die who will take over my bitcoin since nobody in my family knows my seed phrase.

So I was asking myself different questions because I have no wife and no child, then I began to think and be questioning myself if it will be good to at least tell one person in my family my seed phrase or should I keep having the perso secret of my seed phrase personal or should I keep my bitcoin document on my wardrobe were they can easily see my seed phrase, that time I was of full of thinking, thank God  I recover fully from the illness before i return to forum...no sympathy

It is a pretty common thing for sure the only way here is just to teach them how to use Bitcoin if they are interested in it you could just teach them about Bitcoin and cryptocurrency investment so that they know in the end if something happens you have some sort of investment if in case you died. I mean there's no way they could use that money or get that money unless you give them your seep phrase or password or something like that it didn't really work that way since it's a decentralized thing on you have access to your wallet.

One of the things that I do is have a notebook where you can find my seep phrase they know that I have some sort of investment in cryptocurrency but they dont really know about how they are going to access it or something like that. I explained to them that everything about my cryptocurrency like seed phrase and password was all in my book and in case something happened they could access my wallet using that password, I mean it is still better if you could teach your family about cryptocurrency that way it is going to be easier..

[Charles-Tim]

On the other hand, you can just store your recovery seed and some easy-to-understand instructions in a fire-proof safe.

If thieves come to someone's house to steal, one of their targets is the safe. If the thieves know about bitcoin, cryptocurrencies and the seed phrase, they might be able to steal the coins. Your suggestions is good, but he should keep it in better location than a safe. There are some hidden locations that he can keep it that will not be noticeable to offline attackers.

[KiaKia]

We all think differently but mind you, because you are investing in Bitcoin doesn't mean you should be thinking about this, you are very young I believe, since you said you are not married yet, if you keep thinking about if you are dead your mind can manifest it, so be careful.

I grew up to become what I am today, all thanks to my heavenly father and my parents, I needed help so much that everyone around me knew it, but they didn't help, I intentionally opened up for some people and they still failed to help me.

See, I don't want to end up dead and let someone take over my things and start enjoying it, especially my money, all I keep hoping for is a longer life, but if death is going to come, no one will benefit my hard work, this is why I prefer leaving my money on the blockchain, Bitcoin to be precise, you will need my keys to rob me of my Bitcoin and good luck with that.

The only person that's worth my private key is my spouse, my partner, because they deserve it, they are there when I was down and they have helped my through this journey by far, assuming I don't have someone like them, I would rather slowly giving out my wealth and when death comes I vanished with what I have left.

[Blitzboy]

At times, we're so caught up in the present, the trades and price swings, that we forget we're mortals. These are good questions and your introspection makes sense. Like wills for real belongings, how should we treat digital assets in the digital age?

- Sharing your seed word with a trusted family member is a good idea, but make sure they know how important it is.
- Things are harder when you dont have any close family. But if you have a friend or relative you trust completely, you might want to let them know.

Also, perhaps look into platforms or services that offer solutions to this particular issue. Digital wills can be set up so that they are automatically carried out when certain things happen.

[KingsDen]

I so much understand the risk that is behind trusting someone with your seed phrase even when you are alive. This could certainly mean that you might be asleep and someone else will sell all your bitcoin even without acknowledging that they did because you will have no evidence to prove that and you might be thinking it was a hack. I have a simple, but somehow complicated solution for you.

You have to trust a member of your family who does not know much or know about cryptocurrency and bitcoin with your seed phrase and ask them to keep it very save. Then you have to let your friend or another member of your family, who knows about bitcoin and cryptocurrency know that you have something that you left in the hands of the other person. By this it will not be easy for both of them to unite to steal your money. But when you are no more the one without the knowledge will actually look for someone to help them get the money, that will involve the one with knowledge of cryptocurrency.

[lovesmayfamilis]

OP, you've gone very far. If you don't have a wife, why burden yourself with such questions? There is no need to worry about what will happen to your money if you die, and you have no one to give everything to. This topic appears frequently on the forum, but is it that difficult to resolve? Everything depends on you. If you trust your significant other, tell her. I don't think it's hard to do. If you are raised with a sense of responsibility towards your loved ones, you will find thousands of ways to convey your secret to them. If you don't have people you can trust, then don't even think about it. People die empty-handed, taking nothing with them. Also, people die unexpectedly, so if your bitcoins are destined to disappear without a trace, then don't regret it either. If we say that, as many people have written here, it is dangerous to trust loved ones, then you can feel sorry for them that people are living next to them who are capable of betrayal at any moment.

[Plaguedeath]

- Things are harder when you dont have any close family. But if you have a friend or relative you trust completely, you might want to let them know.

What's the point to give your coins to your friends? Bitcoin is a currency, the point of someone want to give their coins to other person is to make their life better because they have more money, this related to the next generation.

I have few trusted friends in my life, but there's no friends can be trusted when it's related to money because they're only being good when you have something, when they already get it, they will be gone.

[summonerrk]

~~~

I think that every person who owns cryptocurrencies thinks about this question. After all, for sure, a lot of crypto enthusiasts die every month, and balances from wallets and bridges remain on accounts, while they will never be withdrawn, because the memory of passwords and seed phrases also dies with people. However, I think that the exchange will assign similar accounts explaining this by some clause of the agreement that, for example, "if the account has not been active for 30 years, then the exchange appropriates all its funds."

[livingfree]

The best IMO is you really have to tell that to one from your immediate family. And that's one whom you think can really be trustworthy but you don't show him your seed phrase as soon as you teach or tell him/her about your bitcoin investment.

If you think that you're going to be gone too soon, you'll make like a last will testament or some instructions on how to retrieve those bitcoins through the seed phrase that you're going to give to them.

One or two family members will do, again the immediate ones or the first degree and so on if you can't find someone trustworthy.

[Minecache]

- Things are harder when you dont have any close family. But if you have a friend or relative you trust completely, you might want to let them know.

What's the point to give your coins to your friends? Bitcoin is a currency, the point of someone want to give their coins to other person is to make their life better because they have more money, this related to the next generation.

I have few trusted friends in my life, but there's no friends can be trusted when it's related to money because they're only being good when you have something, when they already get it, they will be gone.

If we put our trust in our siblings or loved ones, it will be better than strangers, even those we consider our closest friends. Indeed, the most difficult thing to understand in life is the human heart, so we should not easily put our trust in people who are not related to us by blood. I don't mean to mistrust my friends, but there should be limits when it comes to money with them. As for friends, I never even mention money, let alone valuable assets like bitcoin, when a relationship involving too much money will easily fall apart.

[AprilioMP]

1) since I'm ill should I show my family my seed phrase

I think it is necessary to show family members the seed phrase so that it can be accessed and used well as your best inheritance.

2) if I die who will take over my bitcoin since nobody in my family knows my seed phrase.

Because bitcoin for me is the best legacy created by Satoshi Nakamoto, I think it is necessary to pass it on to your successors if all this time bitcoin is still stored intact in your wallet.
I remember the message that a good legacy must be continued and not left unused. It is very regrettable if the best asset is neglected like a physical item.

Our parents used to invest in gold, they always kept the purchase certificate carefully as proof of gold ownership and kept it in a place where they could take it when they wanted to sell it out of necessity. If our parents die, then the gold ownership certificate can be used by family members who will be recognized when they sell it to a jewelry shop.

[Sim_card]

I believe that among your family members, there must be someone close to you whom you trust, and you can tell that person your secrete because you can confide in him. Such person should be the one which should be in the position of disclosing your seed phrase to. If the person doesn't understand bitcoin, you should create out time to teach him/her. It wouldn't be wide that we have an investment, and no one will be able to benefit from it after our departure from planet earth. Since you said that you don't have any child or wife, then you person that you love most should be given your seed phrase so that the money can be shared within family members after death.

[o48o]

-cut-
if only investment I have is bitcoin
-cut-

It might be controversial to say that don't only bet in bitcoin in a bitcointalk forum. But there's a saying about putting all of your eggs in one basket, and that applies even if that only basket is bitcoin. It's just common sense. Anything can happen. Especially with bitcoin.

1) since I'm ill should I show my family my seed phrase
2) if I die who will take over my bitcoin since nobody in my family knows my seed phrase.

You can set up a will and testament, that includes a memory stick, containing all the information on how to access your bitcoin.
Or you can just show them your seed phrase if you are sure they are not going to misplace it, show it to anyone, steal your bitcoin, or start to change their views, if they see the the price of bitcoin crashing or mooning.

If you don't share the fact that you have bitcoin, likely no one will know about it and it will be lost forever after someone formats your harddrive.

[boyptc]

Are you having a serious disease and this is the reason why you are asking for this? Everyone has given the same option of what you must do and that's to talk to your family and teach them the basics about wallets and retrieval.

Do you trust them?

If so, then you have to believe on them that they will learn it and even it's not going to be for a short period of time, you have to be consistently teaching them until they have absorbed that knowledge.

But if you don't trust them then that will serve as gone forever and part of those 'burned' bitcoin's forever when you're gone and you have never told it to anyone.

[Kakmakr]

The best thing to do is to create some kind of riddle and something that only your family will be able to solve. This riddle will reveal to whomever are left behind, where you left your pass phrase.

You can even write it down and split it into pieces and then give the different pieces to the different family members to put together when you are gone. So, without the other pieces.. not one of them will be able to put it together. 

[Bd officer]

Congratulations, you have invested in Bitcoin at a young age. Is bitcoin legal in the country you live in? If Bitcoin is legal in your country, you can tell a trusted family member about Bitcoin and wallet privacy. Bitcoin is disliked in many households. Does your family like bitcoin? If your family doesn't know about Bitcoin you can introduce your family to Bitcoin, then keep telling them about Bitcoin. But you have recovered, I pray for a full recovery. I don't think it's necessary to tell your family now. However, you can write down Bitcoin and wallet privacy in a personal diary. And keep the diary in a locker so that your family members can easily find it if you die of any cause.

[pawanjain]

It really depends on how much you trust your closed ones. You don't have to give the whole seed phrase to your closed ones.
You can decide to split the seed among your closed ones for instance give the first half to one and the second half to other or something like that.
The chances of everyone combining to take your wealth will be relatively low when compared to giving the whole seed to a particular person.
Also, you can achieve the same result by creating a multi-sig wallet with your closed ones.
What I have done is that I have told my elder brother whom I trust a lot that I have invested in bitcoin and I have stored the seed to access it in a location.
Just so that he is aware of it when the time comes.