Trust: who can be trusted to keep your seeds?

[FortuneFollower]

I might sound very cold saying this, but I believe in speaking the truth.

I don’t trust anyone, not even my own family. My brother has betrayed me several times, all for the sake of money. How can I entrust my private key to someone like that? He is family, but that doesn’t change anything.

To me, money and family should never be mixed. If you do, you risk betrayal, or even worse—the possibility of harm.

Keep your private keys to yourself; they are meant to be kept private. Avoid discussing your assets with friends and family. People aren’t interested in what you offer them; they want what you possess.

It's alright if your close ones did something like that, after all, privacy is a right, and you are right to do anything you want.

But eventually, when our time comes, who would posses your fortune? Or it would become another lost wallet?

[bitzizzix]

Talking about this topic, for as long as I live, I want nobody to know my seeds/private keys.
But is there any way or method, once I die, that's the only time that my family or close ones can turn over my seeds and instructions on how to access my funds? So my funds will be use even I'm not around anymore.

And yes, I will do the same thing as I have arranged and as long as I live, the seed and everything related to it is completely under my control and maybe my family or wife will only know about it as long as I live, but cannot do it.

And after I die, and at that time my wife or family can use it which is all and also all about how to access it in great detail I put it in a place that I have told you before which is very secret and safe from anything and can only do it after I die and as long as I live no one will be able to do it.

[fikrett]

Talking about this topic, for as long as I live, I want nobody to know my seeds/private keys.
But is there any way or method, once I die, that's the only time that my family or close ones can turn over my seeds and instructions on how to access my funds? So my funds will be use even I'm not around anymore.

And yes, I will do the same thing as I have arranged and as long as I live, the seed and everything related to it is completely under my control and maybe my family or wife will only know about it as long as I live, but cannot do it.

And after I die, and at that time my wife or family can use it which is all and also all about how to access it in great detail I put it in a place that I have told you before which is very secret and safe from anything and can only do it after I die and as long as I live no one will be able to do it.

It's a great way to put it - because you won't need the funds when you are gone, just like the rest of us.
And if you love your family, they will be grateful for such an act.

[shield132]

The problem of seeds is obviously crucial. Can we imagine being the one and only person who knows what to do with these 12/24 words? How to keep them safe, but also how to pass them on to heirs or friends (so that they know what to do with them?). Informing others while preserving your own security can be a real challenge in some countries.
And then there's betrayal, divorce etc...

What are the solutions?

I think that it's a very individual thing to give advice. From where I grew up, how I grew up and what kind of people I grew up with, I'd say that the best deal in this situation is to entrust your seeds to your mother and father. Where I live, we have a very close relationship with our mother and father, we even live with them when we grow up, even when we marry. In my country, mothers and fathers also have no idea what Bitcoin is or how to use it, so they can't do anything with your seeds if you give it to them and also 99% of the population has no idea about it, so even if they show it to their friends or neighbours, be confident that they'll have no idea what to do with it. Btw why would a mother and father try to steal from their son? In my country, parents do everything for their children and if they steal something from their kids, the whole neighbourhood and relatives will hate them for that.

[GideonGono]

There is only one person I trust when it comes to my crypto funds or seed, it is my brother we have access to some of our wallet.
I trust him more than I trust my partner cause he knows how to manage funds properly, and he also trust me with his seed phrase back then to have access and trade his altcoins whenever it hits a price that we agreed to sell, since he is busy with his work back then.

[Smack That Ace]

Btw why would a mother and father try to steal from their son? In my country, parents do everything for their children and if they steal something from their kids, the whole neighbourhood and relatives will hate them for that.

I don't know if there are cultural differences or how people treat each other in different countries, regions, religions...but where I live is the same as you. Parents sacrifice everything for their children, even their own lives.
I am a son and a father, and with what my parents have done for me and my children (their grandchildren). I see no reason to doubt or distrust them.

After all, bitcoin is just money and it is not difficult to get it back if we lose it. It's not something so important that if we lose it, we die. So I won't doubt those who gave birth to me just because of bitcoin. Not to mention, we are living for our family and loved ones, not just for ourselves, so don't be too selfish and only think badly of our loved ones when they love and trust us with all their heart.

Another funny thing is: children always want their parents to inherit property, but most of them are suspicious and do not trust their parents.

[pawanjain]

The problem of seeds is obviously crucial. Can we imagine being the one and only person who knows what to do with these 12/24 words? How to keep them safe, but also how to pass them on to heirs or friends (so that they know what to do with them?). Informing others while preserving your own security can be a real challenge in some countries.
And then there's betrayal, divorce etc...

What are the solutions?

I know the situation can be tough but from my personal opinion I belive there should be at least someone who should know that you hold crypto.
This is just because in case of some mishappening then the hard earned crypto should not be lost in a limbo.
We have heard cases of people losing access to their bitcoins and those are now just lost in a limbo.
So isn't it better that our loved ones will be able to access them in such scenarios.

Now, obviously there would be a risk of theft in such scenarios but that's the risk we should consider while letting them know about our coins.
The person should be the most trusted on your list so that he/she doesn't betray you with your coins.
If they do then that's your loss to be honest.

[Plaguedeath]

And yes, I will do the same thing as I have arranged and as long as I live, the seed and everything related to it is completely under my control and maybe my family or wife will only know about it as long as I live, but cannot do it.

And after I die, and at that time my wife or family can use it which is all and also all about how to access it in great detail I put it in a place that I have told you before which is very secret and safe from anything and can only do it after I die and as long as I live no one will be able to do it.

He was asking a question and you didn't answer it.

You said you've keep it secret and you've told your wife to access your coins after you passed away, now I will ask, what's the guarantee your family will open it after you passed away? if they already own the instructions, they can access whenever they want.

I don't know if there are cultural differences or how people treat each other in different countries, regions, religions...but where I live is the same as you. Parents sacrifice everything for their children, even their own lives.
I am a son and a father, and with what my parents have done for me and my children (their grandchildren). I see no reason to doubt or distrust them.

My country is also like that, but I think in every country it should be like that.

The difference is, we're lucky since we born from parents who will do everything to make their child happy, some people born from parents who use their children as money machine. For them, if they have many child, these child will enrich them because every child will give some money and they want their child to take care of them.

Another funny thing is: children always want their parents to inherit property, but most of them are suspicious and do not trust their parents.

Could you explain what do you mean about "suspicious and do not trust their parents".

[Wonder Work]

I don't know if there are cultural differences or how people treat each other in different countries, regions, religions...but where I live is the same as you. Parents sacrifice everything for their children, even their own lives.
I am a son and a father, and with what my parents have done for me and my children (their grandchildren). I see no reason to doubt or distrust them.

After all, bitcoin is just money and it is not difficult to get it back if we lose it. It's not something so important that if we lose it, we die. So I won't doubt those who gave birth to me just because of bitcoin. Not to mention, we are living for our family and loved ones, not just for ourselves, so don't be too selfish and only think badly of our loved ones when they love and trust us with all their heart.

Another funny thing is: children always want their parents to inherit property, but most of them are suspicious and do not trust their parents.

The words you have said are true. It is best not to compare your family, parents, and children with these Bitcoins. Because family is above everything else, nothing can be compared to it. Here, comparing family with Bitcoin also seems worthless.

Family is our home, where we can break and rebuild ourselves, where we have no thought of losing anything. Parents always try to make their lives a paradise for the good of their children. We should not compare everything in our daily lives with Bitcoin. Some things cannot be compared with anything. It would be a mistake for us to compare them with anything.

Another interesting thing about this is that children always want their inherit parents property, but no one interferes with how much property the parents will give to any child. All siblings get an equal share of their parents' property here.

[bitbollo]

the answer to the question is easy. give the seed to another entity/person is just a big risk.
its not matter of "trust" someone. its also matter on security reason! how they will take your seed?

the best solution could be something like:
-a bip68 private key and password "hide" somewhere.
-adopting a timelock that avoid coins to be spent before a deadline.
-add an extra word to the seed.
-adopt multisignature strategy.
-adopt wallet that after sometime will send coins to a new wallet if not moved before.

[Becassine]

Your answers are interesting and the problem of trust is such that at the moment the majority don't want to trust anyone. That's pretty sad. I remember this Bitcointalker who had Alzheimer's disease and was gradually losing his memory, very sad story. Unfortunately, there are also various cases of sudden death.

So the central question is:

If we can save and stack sats, is it for our old age, to leave an inheritance to our spouse/husband or our children?

Because obviously, if it's for the children, we can and should trust them. For a husband and/or wife, the question is complicated. In France, we have what's called a marriage contract, and each person leaves with its own stuff in the event of divorce. It's not very romantic but at least it's realistic.

I voted for "Nobody". Why do you think that your friends and family have to inherit your crypto? If you want to give them your crypto, just sell it for fiat money and give them the fiat money. Just like Satoshi once said "if you lose access to your coins, this becomes a donation to the community". The same thing happens when you die and nobody has access to your crypto wallets. I would never share my passwords and seed phrases with friends and family. Most of them are in a pretty good financial condition and they don't need my crypto. I also don't have any kids and I don't plan having kids.

Interesting point of view. But why not consider making a donation to an association like Bitcoin Ekasi (South Africa) or Mi Primer Bitcoin (El Salvador)?

I've talked about this in several other posts over the years. The short answer is that it's risky business in any event to transfer the keys to anyone because anything could happen. I've even thought of a bitcoin insurance policy but that would ve tricky for insurers. What would be cool is to keep them on a cypher or some kind of riddle that only your family would know. Something like the ending scene of the movie "the pacifier " iykyk

Bitcoin insurance already exists.

I think that it's a very individual thing to give advice. From where I grew up, how I grew up and what kind of people I grew up with, I'd say that the best deal in this situation is to entrust your seeds to your mother and father. Where I live, we have a very close relationship with our mother and father, we even live with them when we grow up, even when we marry. In my country, mothers and fathers also have no idea what Bitcoin is or how to use it, so they can't do anything with your seeds if you give it to them and also 99% of the population has no idea about it, so even if they show it to their friends or neighbours, be confident that they'll have no idea what to do with it. Btw why would a mother and father try to steal from their son? In my country, parents do everything for their children and if they steal something from their kids, the whole neighbourhood and relatives will hate them for that.

But parents usually die before their children. In any case, it's the natural order of things, although of course this isn't always the case. And if your parents die first, the “problem” isn't solved. And if nobody knows what to do with the seeds, what's actually going to happen?

[BlackBoss_]

But parents usually die before their children. In any case, it's the natural order of things, although of course this isn't always the case. And if your parents die first, the “problem” isn't solved. And if nobody knows what to do with the seeds, what's actually going to happen?

If you don't want your bitcoin lost because you suddenly die by an accident, you can leave information of your wallet seed words to up and down generations. Upwards to your parents and downwards to your children but why don't think you will leave it to your spouse too.

Sharing this information to someone else is risky, but if you do it with someone, he or she must be a very important person with you, who you have big love and trust. After doing this, what will happen after that no longer in your control but perhaps you won't mind too much is something wrong happen. Trust is given to them, and if you lose your bitcoin to them when they turn to be bad people, it's destiny.

If you are fearful about this risk, simply keep your bitcoin for yourself including wallet mnemonic seed.

[Wexnident]

~

No one. I mean you probably cant trust yourself with it since you'd probably lose it somewhere (*cough* definitely not me *cought). Reminded me of a few days when I was scrambling looking for my seed phrase and for the love of god could not find it since I had a couple. Turns out I had this dumb idea to mix and match words through some randomizer, and the method to find out what words were correct was hidden in plain sight but because it's been a few months, I've completely forgotten about it lol.

Honestly? Unless you can automate it somehow, then just trust yourself. Probably open your wallet every month or so just to keep yourself aware of wtf happened to your seed phrases and if they're stored properly or not. If its sickness related forgetfulness then I reckon you 100% need external help. But otherwise? Just yourself.

[Cryptomultiplier]

But parents usually die before their children. In any case, it's the natural order of things, although of course this isn't always the case. And if your parents die first, the “problem” isn't solved. And if nobody knows what to do with the seeds, what's actually going to happen?

If you don't want your bitcoin lost because you suddenly die by an accident, you can leave information of your wallet seed words to up and down generations. Upwards to your parents and downwards to your children but why don't think you will leave it to your spouse too.

Sharing this information to someone else is risky, but if you do it with someone, he or she must be a very important person with you, who you have big love and trust. After doing this, what will happen after that no longer in your control but perhaps you won't mind too much is something wrong happen. Trust is given to them, and if you lose your bitcoin to them when they turn to be bad people, it's destiny.

If you are fearful about this risk, simply keep your bitcoin for yourself including wallet mnemonic seed.

The underlined word is trust. Anyone who is close may not be trusted enough, but such a one can be tested to know the kind of level of trust one can accord them.
This is because money is a spirit and there's no saying what anyone can do because of money despite how close they are. We have heard stories of children, spouses, siblings all faking kidnaps or organizing assassins to take out the person they see as a benefactor or owner of large portfolios.

Everyone including your next of kin should be tested with money to know if they can be trusted with something as delicate as seed phrases that could be the key to millions in dollars.

[Cookdata]

The problem of seeds is obviously crucial. Can we imagine being the one and only person who knows what to do with these 12/24 words? How to keep them safe, but also how to pass them on to heirs or friends (so that they know what to do with them?). Informing others while preserving your own security can be a real challenge in some countries.
And then there's betrayal, divorce etc...

What are the solutions?

Do you know why it's advisable not to share your seed phrase because it's something you should never share with anyone, not even your parents because you know why? People change at the slightest moments and you will be surprised go they will disappoint you.
Let me share you a short story about three friends that were leaving together, they were all involved in crypto, the one that joined last made money from a meme coin before the people that thought him buy guess what, his wallet was drained the following day and 50 sol disappear. After thorough investigation, it was found out that it was his friend that help him open a phantom wallet that sweep his wallet.

There is no solution, the only solution is you been you and no third party. It's only in conventional finances of banks another person can do such but you can't do such with crypto or Bitcoin, you will regret the day you allow another person have access to your seed phrase.

[moneystery]

maybe i will see first how my family members are, whether they are worthy of my trust or not, because there have been many cases where someone who entrusts their seed phrase to their family but ends up with something they don't want, and honestly if possible i don't want that to happen to me. i might wait until the time comes to entrust my seed phrase to my family, i don't want to rush to trust them with something important like this. i have to make sure how they can understand the importance of bitcoin and its potential in the long term. if they are not too interested in it, then i won't give the seed phrase to them.

[Kelward]

This is the biggest price of decentralized self custody, the trust of your seed phrase is your sole responsibility, any wrong decisions, theft or misplacement can lose your BTC forever. Where to keep your seed phrase and whom to entrust with the secret if you want to share is a very big decision. There is need however to share your seed phrase with atleast one person because nobody knows tomorrow, the wallet owner can be involved in an accident and lose his/her memory or in the worse case death. It won't benefit any loved ones if a Bitcoin holder where to die or lose their memory and the BTC will be wasted. The question mark is who to trust? It's better to keep the secret of your seed phrase from everybody if you can't find a single person to trust.

[Z-tight]

There is only one person I trust when it comes to my crypto funds or seed, it is my brother we have access to some of our wallet.
I trust him more than I trust my partner cause he knows how to manage funds properly, and he also trust me with his seed phrase back then to have access and trade his altcoins whenever it hits a price that we agreed to sell, since he is busy with his work back then.

That is really good for you that you have found someone to share your backup with, a lot of people will want to be in your position, having someone whom they can share their backup with. However, i will recommend to people that if they have not found a perfect inheritance plan, they should keep their seed phrase to themselves, so that you don't lose your funds when you are very much alive and healthy, because you were looking for a way to pass it down.

[2Pizza410000BTC]

The problem of seeds is obviously crucial. Can we imagine being the one and only person who knows what to do with these 12/24 words? How to keep them safe, but also how to pass them on to heirs or friends (so that they know what to do with them?). Informing others while preserving your own security can be a real challenge in some countries.
And then there's betrayal, divorce etc...

What are the solutions?

It is rare to trust anyone other than parents in this world. Here I can keep my wallet's seed phrase with my parents, in which case I may not have any problem. But here since my parents are not very experienced in this matter or about it, I do not want to keep it with them. Moreover, I do not think it is very safe to keep the wallet's seed phrase with my brother, sister, wife because there may be conflicts between brothers and sisters and at any time for any reason. Apart from that, I do not think it is very safe to keep it with my wife because for various reasons, people are getting divorced from their wives now, so the only way is to keep it to yourself. The safest thing is not to reveal it to anyone or keep it with anyone.

[Orpichukwu]

While you should limit the people who have access to your keys/seeds, I think you should be thinking in terms of who you will want to have your coins when you die. You could even give different people sections of your keys and hope they don’t conspire against you. There’s also multisigs that can be useful for a variety of reasons.

And if there is anyone you trust and want to have your coins when you die, then the best thing should be to give them at least half an access to that coin, which you are saving for them. If you don't trust their judgement over what they could do with it while you are still there, that's where you give some of the wallet key to the person and the other entrusted to those who don't even have access to it. Maybe the other part of the key can be given to the person as well.