Trust: who can be trusted to keep your seeds?

[Iranus]

This is the same for me as well, I believe sharing it with my wife is ok, she can also take whatever she wants from it because if I do not trust my money with my wife, then why am I even married?

Honestly, I am really confused and surprised that there are many people who claim that they cannot trust their wives when she is the one they love and choose to be their wives. If that girl is not trustworthy, why marry them and accept to live together, even have children with them?

It's true that this world is colorful, there are things that really make me feel confused with some people, they not only don't trust but are also willing to badmouth their wives to others. Or people who like to badmouth their friends while those friends consider them trustworthy friends. What is more telling is that these people claim that money is not everything in life but they do not trust their wives or even the people who gave birth to them for money.

[Helena Yu]

Honestly, I am really confused and surprised that there are many people who claim that they cannot trust their wives when she is the one they love and choose to be their wives. If that girl is not trustworthy, why marry them and accept to live together, even have children with them?

It's true that this world is colorful, there are things that really make me feel confused with some people, they not only don't trust but are also willing to badmouth their wives to others. Or people who like to badmouth their friends while those friends consider them trustworthy friends. What is more telling is that these people claim that money is not everything in life but they do not trust their wives or even the people who gave birth to them for money.

Pretty sure you not had a serious trauma with your partner and now your wife is a good person, so you can trust her. But, some people who had trauma with their partners or parents will not think the same like you.

Why people want to marry their wives, even they not completely trust their wives? because they want to have a baby. They've choose the best from the best women out there, but there's no guarantee the greatest wouldn't abandon you.

[arabspaceship123]

I've just voted in the poll with trusting nobody. This shows ppl aren't going to trust others to keep our money or property safe by giving them to others to protect to give on to our families after our death. Don't trust anybody. Don't trust banks & lawyers to keep your seeds. We should tell our families about passwords & seeds while we're still alive.

[milewilda]

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?

NOBODY!

Even im a married person on which i cant really still that trust up my seed phrase into my wife. Yes, i dont have any plans on having divorce or trying to solo these money on which everything is really that being done for the sake of family and giving them a good life. I cant really just that make myself that trusting up that much on which it comes into a point that i would really be that trusting up my seed on which we do know that temptations is really that could happen specially if the amount will really be that significant. I do trust up my wife but there are really things on which are meant to be hidden or shouldnt really be that told. So far i dont have any problems on keeping away my seed as long it is really that out from other peoples awareness then it should really be just that fine. We do know that how important these seed phrase would be and its always been best that you should really be that wary and giving out that outmost security because once it will really be that someones awareness then there's always that tendency that you would be having that risks on losing those precious coins of yours that you've been holding for so long.

[takuma sato]

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 prefer keeping custody of my seed phrases myself, and only a trusted family member knows where it is but cannot access it easily. If I'm gone or something, the family member can have full access to it.

I would also keep the sharing formula of my holdings with a lawyer, the formula already known by my most trusted family member, so that the person who knows my secret phrases wouldn't take everything for himself. It's my own pattern of 2FA to ensure my holdings gets evenly distributed to those concerned.

A reasonable lawyer should respect your contract and stick to it, since he would be risking his career if he screws up. The problem is, in many countries, corruption runs wild and you never know if you could trust them. Even in western countries where you would expect lawyers to act ethically, everyone has a price. If you are holding a number of coins that could retire them in an island for life, then perhaps you are putting too much trust on them. You never know. It's hard to say who would betray you first, acquaintances or a professional contract with a lawyer.

If im not in a western country I would definitely forget about any decency coming from lawyers, vaults or authorities and would simply try to never forget whatever access passphrases you are using.

[Apocollapse]

I've just voted in the poll with trusting nobody. This shows ppl aren't going to trust others to keep our money or property safe by giving them to others to protect to give on to our families after our death. Don't trust anybody. Don't trust banks & lawyers to keep your seeds. We should tell our families about passwords & seeds while we're still alive.

You contradicts what you said.

A reasonable lawyer should respect your contract and stick to it, since he would be risking his career if he screws up. The problem is, in many countries, corruption runs wild and you never know if you could trust them. Even in western countries where you would expect lawyers to act ethically, everyone has a price. If you are holding a number of coins that could retire them in an island for life, then perhaps you are putting too much trust on them. You never know. It's hard to say who would betray you first, acquaintances or a professional contract with a lawyer.

If im not in a western country I would definitely forget about any decency coming from lawyers, vaults or authorities and would simply try to never forget whatever access passphrases you are using.

Average Joe should stay away against lawyer or someone who understand about laws. If the lawyer steal the coins, the Average Joe has no way to sue them because the lawyer already know what they can do and what not. If Average Joe insist to sue them, they might go to jail, imagine you lost your coins and now you lost your time.

Sometimes, even you win the case, you high likely won't get back your assets.

[hd49728]

Average Joe should stay away against lawyer or someone who understand about laws. If the lawyer steal the coins, the Average Joe has no way to sue them because the lawyer already know what they can do and what not. If Average Joe insist to sue them, they might go to jail, imagine you lost your coins and now you lost your time.

Sometimes, even you win the case, you high likely won't get back your assets.

Except if you are too rich and have too many bitcoins, I see no big reason of hiring lawyers for this task.

You can store, secure your bitcoin by yourself because with Bitcoin, it's easily to have Bitcoin private keys, mnemonic seeds, and it's always your bitcoins and your Bitcoin wallet backups.

You can do all necessary steps by yourself very safely and offline. You can leave information necessary for wallet backups and recovery later, to people you trust, love and want them to inherit your bitcoin.

Lawyers can be hired in case you are too rich and have very big fortune to leave for someone else.

[Fivestar4everMVP]

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?

The only one who I can entrust my wallet's seed phrase to is either my wife, or daughter or son, no body else, but speaking of my wife, before I let her in on such vital information, we must have been married for several years and I am sure they we both have gotten to that level where we can never divorce or seperate no matter what come may.

And if I will be revealing my seed to any of my child, he or she must have gotten to a certain age and must be living a life deserving of enjoying the fruit of what I have laboured tirelessly over the years to acquire, I did donate my crypto to charity than have a useless son or daughter inherit it from me.
And same goes for my wife, if she doesn't live a life that pleases me, but rather gives me reasons to doubt her love for me and our longevity together, I will never reveal any of this secret information to her.

[MusaPk]

Honestly, I am really confused and surprised that there are many people who claim that they cannot trust their wives when she is the one they love and choose to be their wives. If that girl is not trustworthy, why marry them and accept to live together, even have children with them?

It's true that this world is colorful, there are things that really make me feel confused with some people, they not only don't trust but are also willing to badmouth their wives to others. Or people who like to badmouth their friends while those friends consider them trustworthy friends. What is more telling is that these people claim that money is not everything in life but they do not trust their wives or even the people who gave birth to them for money.

The sad and hard reality of life is death, sooner or later we all have to die. There is procedure in place to pass on things to next person after we die like house, car, bank accounts etc. Unfortunately there is no such system in place if your Bitcoins are in self custodial wallet. It’s up to you whether you pass your Bitcoins to your heirs or want them to be lost on Bitcoin block chain forever.

I defiantly love to pass my Bitcoins to my wife and kids after I am no more in this world. My wife has to take care of my kids and my Bitcoins will help my family after I am gone. We have to develop trust in people we live and love. It’s difficult to live a lonely life, in fact life is nothing without a family that has wife along with kids. 

[Helena Yu]

I defiantly love to pass my Bitcoins to my wife and kids after I am no more in this world. My wife has to take care of my kids and my Bitcoins will help my family after I am gone. We have to develop trust in people we live and love. It’s difficult to live a lonely life, in fact life is nothing without a family that has wife along with kids. 

Bro I tell you.

I agree if live a lonely life is difficult and it's almost impossible because we need interaction, but saying life is nothing without wife and kids, you think to think twice. If they're gone, your life might be gone too, not saying you will commit suicide, but you might suffer serious depression.

I ever heard a professional or doctor say, you have to find a way to happy alone, for sure we need friends, but friends with everyone, not always stick with x person.

[bitzizzix]

I've just voted in the poll with trusting nobody. This shows ppl aren't going to trust others to keep our money or property safe by giving them to others to protect to give on to our families after our death. Don't trust anybody. Don't trust banks & lawyers to keep your seeds. We should tell our families about passwords & seeds while we're still alive.

You said don't trust anyone but you also said to tell your family the password or seed while you are still alive. And if you are still alive why should you involve or trust a bank or lawyer because as long as you are still alive everything is still under your control including your family.

You should only tell people you trust and I totally agree if that is the purpose of telling your family and if you already have a wife then your wife has the right to know after you really have the right time to tell your wife after you have lived a very long life with your wife and also you believe that your wife is your life partner until you die and she has the right to continue your ownership to continue the life of your wife and children. So that their lives are good especially in terms of finances and for their survival, and the rest is up to them the most important thing is that you leave something very good after you are gone and I think everyone is like that because after someone dies any relationship will be broken, and only prayers and alms are addressed to the deceased and that's all that is needed.

[goldkingcoiner]

It alarms me how many people think that trust is a necessary component of owning money.

Bitcoin's very core ideology is to remove trust from the equation and make you be your own bank. Why circumvent that and re-centralize yourself by placing trust in a third party?

Trust yourself, everything else is unnecessary.

[Curious T]

There's no particular person for everybody. For one person it can be mum, for another it can be the dad or a sister. If a person is to keep your seed phase, it has to be a person that's very careful and a person you can trust.

My idea is if you have a person you can trust don't know much about crypto, you can give it to him/her if they are a careful person. You simply have to let them know how important it is and they have to keep it very safe.
Another idea is sharing it in different parts with 2 or more people. They may know that they all have it if you prefer it that way. 

[Nothingtodo]

I've just voted in the poll with trusting nobody. This shows ppl aren't going to trust others to keep our money or property safe by giving them to others to protect to give on to our families after our death. Don't trust anybody. Don't trust banks & lawyers to keep your seeds. We should tell our families about passwords & seeds while we're still alive.

Even if I have a trusted family member who can provide me with the wallet password/Phases words, if something untoward happens to me personally and if my family members do not deliver my Bitcoin to my wife and children after my death, then there is definitely nothing I can do. However, to ensure that the Bitcoin is not lost forever after my death, I will have to trust someone in the family to provide security for the wallet.

[Becassine]

It alarms me how many people think that trust is a necessary component of owning money.

Bitcoin's very core ideology is to remove trust from the equation and make you be your own bank. Why circumvent that and re-centralize yourself by placing trust in a third party?

Trust yourself, everything else is unnecessary.

Yes BUT. When you don't have anyone to pass on your estate to, I can understand why all that doesn't matter. But when you want to pass on your savings, the question is vital.

In the past, people could hide coins, gold and other precious objects, and if people looked hard enough, they could find the treasure. With bitcoin, it's a little more complicated: you need to understand how a wallet works, if you can even find the words to that wallet. And that's where the difficulty lies. Then there's the problem of changing satoshis into FIATS.

In any case, according to the survey, nobody would entrust anything to a friend. Interesting.

[OcTradism]

In the past, people could hide coins, gold and other precious objects, and if people looked hard enough, they could find the treasure. With bitcoin, it's a little more complicated: you need to understand how a wallet works, if you can even find the words to that wallet. And that's where the difficulty lies. Then there's the problem of changing satoshis into FIATS.

If you leave your wallet mnemonic word or private key publicly, in 2025, your bitcoin in that wallet will be stolen very quickly.

It's 2025, 16 years since Bitcoin Genesis Block and the adoption is big enough, education on Bitcoin and blockchain is good enough, so that people can easily to import wallet mnemonic seed or private key. If they are experienced people with Bitcoin and cryptocurrencies, it will be imported easily.

Valuable things need to be kept safely and best secretly and Bitcoin is not only exemption.

[GigaBit]

I've just voted in the poll with trusting nobody. This shows ppl aren't going to trust others to keep our money or property safe by giving them to others to protect to give on to our families after our death. Don't trust anybody. Don't trust banks & lawyers to keep your seeds. We should tell our families about passwords & seeds while we're still alive.

There must be someone in the family who is trustworthy and suitable to hold the seed. If we give our seed phrase to someone else due to lack of trust, there is no guarantee that he will return the seed phrase or transfer the asset. That is why I think it is best if the seed is given to the family. I think it would be a good idea for a Bitcoin investor to give a family member a basic idea of ​​how to hold Bitcoin or how to transfer it. Because in the absence of one person, if someone in the family does not have a good knowledge of that, they will not be able to use that asset properly. They must be responsible for others. That is why the seed phrase must be given by trusting someone in the family.

[dunfida]

In the past, people could hide coins, gold and other precious objects, and if people looked hard enough, they could find the treasure. With bitcoin, it's a little more complicated: you need to understand how a wallet works, if you can even find the words to that wallet. And that's where the difficulty lies. Then there's the problem of changing satoshis into FIATS.

If you leave your wallet mnemonic word or private key publicly, in 2025, your bitcoin in that wallet will be stolen very quickly.

It's 2025, 16 years since Bitcoin Genesis Block and the adoption is big enough, education on Bitcoin and blockchain is good enough, so that people can easily to import wallet mnemonic seed or private key. If they are experienced people with Bitcoin and cryptocurrencies, it will be imported easily.

Valuable things need to be kept safely and best secretly and Bitcoin is not only exemption.

We've been that beating up this word about that you should be keeping your keys away from other people because once that been exposed then say goodbye into your coins. This is why one of the toughest thing to mind off is on how to let your family do know on how they would really be able to get those keys once you do passed away? It will really be that a huge waste of those coins if they would really be locked forever.

So since i have read up this kind of inheritance thing then this thread will be the best read.
    
Using Locktime for inheritance planning, backups or gifts
https://bitcointalk.org/index.php?topic=5180850.0

When it comes to trust, yes i could trust up my family but there's always that doubt that they might be able to make use of those funds that you had been saving for long time.
There's no assurance on living on tomorrow but you wouldnt really be liking that someone do have that access while you do still live. 

[wmaurik]

The sad and hard reality of life is death, sooner or later we all have to die. There is procedure in place to pass on things to next person after we die like house, car, bank accounts etc. Unfortunately there is no such system in place if your Bitcoins are in self custodial wallet. It’s up to you whether you pass your Bitcoins to your heirs or want them to be lost on Bitcoin block chain forever.

I defiantly love to pass my Bitcoins to my wife and kids after I am no more in this world. My wife has to take care of my kids and my Bitcoins will help my family after I am gone. We have to develop trust in people we live and love. It’s difficult to live a lonely life, in fact life is nothing without a family that has wife along with kids. 

Of course we must be able to pass on the Bitcoin that we have collected and do not let it happen that after we have worked hard to collect the assets, they are not utilized by our family after we are gone and it is important for us to teach those closest to us to be able to utilize the assets so that if something happens that we cannot predict as you have mentioned, the Bitcoin assets that we have collected can still be useful for those we leave behind and if we choose not to tell anyone about the assets that we have collected then what we have collected is very useless because no one will use them after we are gone.

[ZeroVinsonN]

Our seeds are our access way to our cryptocurrency and it should really be kept safe at all times but we are all humans and anything can happen at anytime so ultimately, the person we choose to share our seed with should be someone who is reliable, trustworthy, and able to manage our cryptocurrency assets according to our wishes. This could be a spouse or partner, a family member, a close friend, or even a professional executor or trustee, as long as we trust this person to keep our seed safe from outsiders so as to not lose all of our assets.