If only property I have is bitcoin

[Ryu_Ar1]

We have to imagine some life mystery as we are living, have you asked yourself of investment profit and investment loss. The mystery is behind the both when it occurs. Right now I'm thinking to myself of 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, when  I was ill, I was asking myself series of questions in my mind.

> should I show my family my seed phrase ?
> If I die who will take over my bitcoin since nobody knows my seed phrase?

So I'm asking if it will be good to show any of your family person your seed phrase or should we keep having the secret of your seed phrase personal.

I think you should already know the attitude and character of your family so that you can know what you should do in this regard.
On the other hand for this matter there have been several previous threads that almost discuss the same problem and indeed the answer will remain the same when it comes to the issue of age then we will not know how long we live but on the other hand we can estimate what we should do before we are gone.
If you are sure of your family and it is the only way for you to feel comfortable why not just in this case it would be better to hold back first while you are still in the world for what to give your seeds to others even if it is your family.

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[SatoPrincess]

> should I show my family my seed phrase ?
> If I die who will take over my bitcoin since nobody knows my seed phrase?

So I'm asking if it will be good to show any of your family person your seed phrase or should we keep having the secret of your seed phrase personal.

I believe you know the consequences of sharing your seed phrase with another person. This is something we warn newbies about because once your seed phrase is exposed to a third party, the bitcoins in that wallet ceases to be yours. I read a story online where a young man drugged his father so he can gain access to his old man’s wallet and move the bitcoins without him knowing. These are some of the risks associated with letting people around know about your bitcoin savings. If you’re worried that your bitcoins may be lost forever in the event of a passing, I suggest you use the timelock method. This is the most secure and effective means to transfer your holdings to your next of kin.

[The Cryptovator]

In other words, you have to trust anyone in your family. Otherwise, your bitcoin will be burned since anyone can't access it. In this situation, you may teach someone from your family about Bitcoin and how to use it. Write your seed phrase in a notebook that can be discovered after you pass away. But till you're alive, just secure it under your control. I just write about what I have been doing. I wrote everything in a notebook and secured it under me. I'm trying to teach my brother about Bitcoin and crypto. So if something happens, my funds could be recovered.

[ginsan]

We have to imagine some life mystery as we are living, have you asked yourself of investment profit and investment loss. The mystery is behind the both when it occurs. Right now I'm thinking to myself of 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, when  I was ill, I was asking myself series of questions in my mind.

> should I show my family my seed phrase ?
> If I die who will take over my bitcoin since nobody knows my seed phrase?

So I'm asking if it will be good to show any of your family person your seed phrase or should we keep having the secret of your seed phrase personal.

Create a will.
Leave the Bitcoin to whoever you want.

As for the see phrase, leave clues to the family member to figure out what it is.
Or just straight up tell them the seedphrase in the will.

If Op is married he can tell his wife about the investment he made in Bitcoin. If Op is still single, he can tell his parents that he has Bitcoin in his investments. So, if Op chooses not to tell his family, of course if anything happens to him, of course no one will know that he has Bitcoin. I think he should consider it a wise decision to trust someone to know that he has an investment in Bitcoin.

Or if he keeps the seed phrase by writing it on paper or carving it, of course he can make a secret cupboard that only the family knows about. So if anything happens, the family can find out about all the investments he made by opening the cupboard where he keeps several important documents on everything related to important things in his life.

[JoyMarsha]

While no one wishes for the unexpected to happen to them, it is occasionally a good idea to be ready for it before it does. Since we have no idea when we may pass away, it will be best if a member of our family we can trust has access to our private keys in case death comes knocking on our door. 

Therefore, I will encourage every Bitcoin holder to have a family member they can rely on to have their private keys on time before the unexpected occurs because nobody knows what may happen tomorrow.

[Z-tight]

Create a will.
Leave the Bitcoin to whoever you want.
~~~
Or just straight up tell them the seedphrase in the will.

If you are going to create a will with your seed phrase in it, you'll be involving and trusting a lawyer, and therefore a third party, and that's something i would neither recommend nor do. Bitcoiners are looking for a trustless way to allow their families inherit their coins, instead of involving a lawyer, i would rather just teach my family about BTC and tell them how to get to the coins if i am not here anymore.

[Y3shot]

> should I show my family my seed phrase ?
> If I die who will take over my bitcoin since nobody knows my seed phrase?

If you take bitcoin as a property,  you know what is the best for you. If you think letting any member of your family,  wife or children will be good for you because of no one knows what will happen in the future then it is fine , their is nothing bad about it. It is your property and if you think it is very necessary for someone which you trust very well then you can go ahead with your decision.

Their investment and savings whereby couples who trust each others do know about it, for people who think having only their seed phrase to themselves is not proper because of fear of death or any incident that may occur are free to let anyone they trust to know about it.

[Yatsan]

> should I show my family my seed phrase ?
> If I die who will take over my bitcoin since nobody knows my seed phrase?

If you take bitcoin as a property,  you know what is the best for you. If you think letting any member of your family,  wife or children will be good for you because of no one knows what will happen in the future then it is fine , their is nothing bad about it. It is your property and if you think it is very necessary for someone which you trust very well then you can go ahead with your decision.

Their investment and savings whereby couples who trust each others do know about it, for people who think having only their seed phrase to themselves is not proper because of fear of death or any incident that may occur are free to let anyone they trust to know about it.

We would all reach that point in our lives someday. Choose someone who you trust the most and explain how things work in this industry. Well, we are not required to do so but if you choose to keep it for yourself, be sure you won’t have any pinch of regrets on your end if ever anything would happen. Of course we would prefer using it for our own good but life itself has limitations. Same thing with other assets or properties if you won’t voluntarily allow them to be part of it. But in this technology, once you die without letting anyone to have an access with your cryptosavings would just make it useless in the blockchain. It would all depend on your preference as an individual and as an investor. On my end, I allowed my brother to know my private keys ‘coz I’d rather pass it on than to just let it be useless for the time around, if ever I die.

[GreatArkansas]

You shoul read the next topic it is very useful

Using Locktime for inheritance planning, backups or gifts

Basically you need to tech them how to use bitcoin, wallets and other stuff. And keep a signed transaction for them, that is locked by that method. They should be able to broadcast it when the time arrive

I checked another article by LoyceV, it's quite good and I can see very safe. But it's kinda very technical, even a technical person will check and try it, but they will have a hard time using it.
For sure there are a lot of other ways or like the traditional way which just hides some information on how to get access on Bitcoin for inheritance.

[MegameSama]

I'm also confused, but for now I don't think too much about it, because the bitcoin I have is almost close to 0$ lol. If I have a lot of Bitcoin, I will print my phrase, I will give a tutorial on how to open it and sell it on the printed paper, I will put the paper in my important archives such as birth certificates, house letters, diplomas and so on, later when I die , surely my family will find it. Later it's up to them what they will do with the paper I left behind, if they are smart enough they will get it all, if they still don't understand it means profits for the community, that my bitcoins will be burned forever.

[Negotiation]

There are many mysterious things that happen in every person's life apart from planning them it is better to teach them to someone in your family when it comes to using bitcoin. Family stays close in time of danger in that case they can easily use Bitcoin in your absence it's easier to keep secrets by telling someone you trust. Also you can write down all the information in the notebook then if you die the family members can easily find the information. Usually many try to improve the original bitcoin by giving it more speed privacy or some other advantage but it is better to teach someone who is trustworthy that people don't always survive.

[Nheer]

We have to imagine some life mystery as we are living, have you asked yourself of investment profit and investment loss. The mystery is behind the both when it occurs. Right now I'm thinking to myself of 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, when  I was ill, I was asking myself series of questions in my mind.

It’s normal to worry about who inherits your money and properties when you have money because we can’t live forever but when bitcoin is your only asset it is a different case because unlike properties bitcoin requires you to entrust its keys and seed phrase to someone whom you trust and believe would not take advantage of your trust because when it is about money it is difficult to trust people, money is so tempting and can make even someone you trust do betray you.

Who manages your bitcoins investments is left for you to decide, they are your family and only you know them so well so it is your decision to entrust someone with your seed phrase because if you fail to do so no one will be able to access your assets and your bitcoins will be lost forever.

> should I show my family my seed phrase ?
> If I die who will take over my bitcoin since nobody knows my seed phrase?

Only you can decide about that, all we can do here is advise you on how you go about it.

I don’t advise you do that just yet, i think you should select just a few number you trust the most because with more number of people the possibility of you being targeted will be higher. You can’t trust all your family members except if maybe you are married and not much in the family.

So I'm asking if it will be good to show any of your family person your seed phrase or should we keep having the secret of your seed phrase personal.

You should definitely show it to someone you trust so much or maybe leave a note well explained about it somewhere they can easily find in case.

[Woodie]

We have to imagine some life mystery as we are living, have you asked yourself of investment profit and investment loss. The mystery is behind the both when it occurs. Right now I'm thinking to myself of 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, when  I was ill, I was asking myself series of questions in my mind.

> should I show my family my seed phrase ?
> If I die who will take over my bitcoin since nobody knows my seed phrase?

Congratulations, you just proved to the world 🌍 and yourself how selfless you are, and it's good to prepare for the worst as d*ath can come at any time and leave some inheritance for the people that remain.

Without any complications, introduce one or two family members to crypto and if you are married you need to teach your better half how to use Bitcoin, the best security measures and not to fall for these doubling/investment scams and let the person be in on it fully, they will thank you later.

So I'm asking if it will be good to show any of your family person your seed phrase or should we keep having the secret of your seed phrase personal.

It's the most basic approach and it should work, if you have trust issues then try setting up a dummy wallet with a few Satoshi on it and see if the user sweeps it, if not then they are ready to get on board with the main wallet...better yet set up a multi-sig wallet with other members of the family and try to get duplicate access to other trusted members to avoid lockouts.

[angrybirdy]

Create a will.
Leave the Bitcoin to whoever you want.
~~~
Or just straight up tell them the seedphrase in the will.

If you are going to create a will with your seed phrase in it, you'll be involving and trusting a lawyer, and therefore a third party, and that's something i would neither recommend nor do. Bitcoiners are looking for a trustless way to allow their families inherit their coins, instead of involving a lawyer, i would rather just teach my family about BTC and tell them how to get to the coins if i am not here anymore.

I was thinking that this is still possible without giving the seed phrase, will is a written document indicating the name and the assets to receive. It is possible that in the document they just need to include what and where he can find the seed phrase and what's to expect to receive on it.

[Xcode7]

There are many mysterious things that happen in every person's life apart from planning them it is better to teach them to someone in your family when it comes to using bitcoin. Family stays close in time of danger in that case they can easily use Bitcoin in your absence it's easier to keep secrets by telling someone you trust. Also you can write down all the information in the notebook then if you die the family members can easily find the information. Usually many try to improve the original bitcoin by giving it more speed privacy or some other advantage but it is better to teach someone who is trustworthy that people don't always survive.

That really has to be done, we have been entrusted with storing assets in Bitcoin of course there must be someone we trust/family who must know so that these assets can be taken or continued when one day we die, that's something we don't know so everything we may have to prepare.

We will never know what will happen in the future, but I believe that what happens later is the result of what we do now, so whatever has happened should never be regretted, in fact it should be a lesson to be able to do our best so that the mystery in the future could be good for us to get.

[SOKO-DEKE]

We have to imagine some life mystery as we are living, have you asked yourself of investment profit and investment loss. The mystery is behind the both when it occurs. Right now I'm thinking to myself of 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, when  I was ill, I was asking myself series of questions in my mind.

> should I show my family my seed phrase ?
> If I die who will take over my bitcoin since nobody knows my seed phrase?

So I'm asking if it will be good to show any of your family person your seed phrase or should we keep having the secret of your seed phrase personal.

Seed phrases have to remain secret forever between yourself, but do so for the reason that nobody will ever remain alive forever; we will surely die one day, and nobody will also know when the death is coming. With the purpose of knowing that our seed phrases should not only remain secret to us alone, we need someone sincerely to share them with us in case we are no longer alive. Many people are not more alive now, and even their wallets are unaccessible because they never tell anyone about them. It was just like wasting money while we are still alive by investing in bitcoin because the money will never be used by any of our relatives again or anyone if they can access our wallets to get access to our funds.
 
So it is very important to share our seed phrase with someone so that it can take over when we are no longer in existence, but if you want to tell someone about your seed phrase, it should be someone you trust very well so that you know can never cheat on you. And if I should advise you again, let the person be your close relative.
 

[Ayers]

> should I show my family my seed phrase ?
> If I die who will take over my bitcoin since nobody knows my seed phrase?

So I'm asking if it will be good to show any of your family person your seed phrase or should we keep having the secret of your seed phrase personal.

Letting your family know that you have a Bitcoin is your choice. If ever that you don't want them to know about it right now, there are options you can do for them to make use of your Bitcoin if ever you pass away. You can have someone you really trust to know about this information and be the one to give your Bitcoin to your loved ones. Or maybe you can have one of your family members teach about this technology and be your way to inform your family.

Nobody can tell when we will leave this world, so I guess, it's better to inform your family members about it. Teach them personally while you still can, so they can make use of it even if you are gone. Your hard work will pay off and you won't leave any unfinished business.

But the question is who is more trustworthy than our loved ones? If you don't trust your loved ones then no one will be more trustworthy than them. I don't think there is any friend we trust enough to entrust with something as important as a seed phrase.
I think the best way is to teach your loved ones about bitcoin and share the seed phrase with the people closest to you, maybe your wife but if you don't have a wife yet maybe your parents. They are the people who gave birth to you and without them you would not be where you are today, it can be said that they are our most trustworthy people.

I don't know. It depends on someone's choice. What I mean by that is, if only for some reason, if he doesn't want to inform his loved ones about it, then there should be someone he really trusts. Like his best friend/s, I know it is hard to find that and it is only to trust someone deeply if you grow old together. But then again, it's all about choosing between your family or a friend you really trust.

Well, it's true. Trusting it to your wife should be the primary choice. They say your wife is the one who will help you and someone with whom you can put your trust 100%. She will be the one to make your wishes come true. No doubt about it.

I advise you, if you can't trust any of your relatives, don't trust your friends, even if they are people you grew up with. After all, they are just strangers, without any binding relationships. We can trust them with anything but when it comes to money, especially valuable assets, things will change quickly and will destroy that friendship. The magic power of money will cause people's personalities to change quickly.

Wife is the person who will live with us until death, they are truly the most trustworthy people. But if you still don't have a family, you should choose one parent as I said above. Never trust your friends and doubt your parents.

[Blitzboy]

We have to imagine some life mystery as we are living, have you asked yourself of investment profit and investment loss. The mystery is behind the both when it occurs. Right now I'm thinking to myself of 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, when  I was ill, I was asking myself series of questions in my mind.

> should I show my family my seed phrase ?
> If I die who will take over my bitcoin since nobody knows my seed phrase?

So I'm asking if it will be good to show any of your family person your seed phrase or should we keep having the secret of your seed phrase personal.

Seed phrases have to remain secret forever between yourself, but do so for the reason that nobody will ever remain alive forever; we will surely die one day, and nobody will also know when the death is coming. With the purpose of knowing that our seed phrases should not only remain secret to us alone, we need someone sincerely to share them with us in case we are no longer alive. Many people are not more alive now, and even their wallets are unaccessible because they never tell anyone about them. It was just like wasting money while we are still alive by investing in bitcoin because the money will never be used by any of our relatives again or anyone if they can access our wallets to get access to our funds.
 
So it is very important to share our seed phrase with someone so that it can take over when we are no longer in existence, but if you want to tell someone about your seed phrase, it should be someone you trust very well so that you know can never cheat on you. And if I should advise you again, let the person be your close relative.
 

Its not every day you meet someone pondering the long game with bitcoin. You're absolutely right; while we all wish for longevity, the unpredictability of life is real. The last thing you'd want is for your hard-earned bitcoin to just... vanish.

Consider this: There are services now, legal ones, that let you create a digital will. Imagine entrusting your seed phrase, along with instructions, under legal protection. That could be a game-changer. And absolutely, if you're going the personal route, a close, trusted relative is the way to go. Family usually knows best. Protect that bitcoin and keep rocking it

[Texac]

We have to imagine some life mystery as we are living, have you asked yourself of investment profit and investment loss. The mystery is behind the both when it occurs. Right now I'm thinking to myself of 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, when  I was ill, I was asking myself series of questions in my mind.

> should I show my family my seed phrase ?
> If I die who will take over my bitcoin since nobody knows my seed phrase?

So I'm asking if it will be good to show any of your family person your seed phrase or should we keep having the secret of your seed phrase personal.

Seed phrases have to remain secret forever between yourself, but do so for the reason that nobody will ever remain alive forever; we will surely die one day, and nobody will also know when the death is coming. With the purpose of knowing that our seed phrases should not only remain secret to us alone, we need someone sincerely to share them with us in case we are no longer alive. Many people are not more alive now, and even their wallets are unaccessible because they never tell anyone about them. It was just like wasting money while we are still alive by investing in bitcoin because the money will never be used by any of our relatives again or anyone if they can access our wallets to get access to our funds.
 
So it is very important to share our seed phrase with someone so that it can take over when we are no longer in existence, but if you want to tell someone about your seed phrase, it should be someone you trust very well so that you know can never cheat on you. And if I should advise you again, let the person be your close relative.
 

Its not every day you meet someone pondering the long game with bitcoin. You're absolutely right; while we all wish for longevity, the unpredictability of life is real. The last thing you'd want is for your hard-earned bitcoin to just... vanish.

Consider this: There are services now, legal ones, that let you create a digital will. Imagine entrusting your seed phrase, along with instructions, under legal protection. That could be a game-changer. And absolutely, if you're going the personal route, a close, trusted relative is the way to go. Family usually knows best. Protect that bitcoin and keep rocking it

I think going the personal route is safer than relying on a 3rd party service.  what if your government suddenly banned bitcoin and was ready to confiscate all our crypto assets?  furthermore, bitcoin was created with the purpose of helping us no longer depend on third parties, why do we trust the law and entrust the seed phrase to them? We invest in bitcoin for ourselves or for family members, why can't we trust relatives but can trust third parties?

[Gaza13]

The first point, how long have you invested your money in Bitcoin, how long have you not told the seed phrase to people you trust, this will be very dangerous if one of your family members doesn't know about it. The investment you have made so far will be in vain, It would be nice if your closest family members knew the seed phrase from the start.

The second point, that is the importance of telling your family the seed phrase at the beginning, we cannot predict when death will come to us. We could die tomorrow because of something out there. We should study like rich people, Usually big or rich people out there will also tell their parents or children and grandchildren, if something happens to me or dies, I will tell them where my investments have been.