Altcoins Talks - Cryptocurrency Forum
Learning & News => For Beginners => Basic Questions about Cryptos => Topic started by: Domithra on February 11, 2019, 10:51:33 AM
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Just recently, a news showed how one crypto whale died with his cryptocurrencies worth millions of dollar. No member of the family had access to his private keys and other login details. Are you ready to face the same fate and leave your children or family without having access to your hard earned cryptocurrencies some day to come? Showing your wallet login details to them now can also be risky so what are some of the preparations you are making towards the retrieval of your money when you are gone for life one day?
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Just recently, a news showed how one crypto whale died with his cryptocurrencies worth millions of dollar. No member of the family had access to his private keys and other login details. Are you ready to face the same fate and leave your children or family without having access to your hard earned cryptocurrencies some day to come? Showing your wallet login details to them now can also be risky so what are some of the preparations you are making towards the retrieval of your money when you are gone for life one day?
You have to provide the private keys, somehow. If you do not trust, a person. split the private keys to two or more persons, and do a will. When it's time, the holders of the split parts should bring them together, as the will commands. You can modify this proposition to fit your needs.
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May give a key from my wallet to the heir to use after I die. but, who knows when we will die? No one can avoid that. Crypto is very complicated and very difficult to use by most people.
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I plan to let my wife or one of my family members know about my data about crypto assets. It will be better to let them know than those assets disappear and cannot be accessed after death.
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I don't never think such kind of future.. If I accidentally dead in any way I just put my password and all accounts in my diary and it will be sent to my son Tommy.
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I want to dedicate the future generation to my tokens after my death. People are mortal. This is an extreme reality. But people are making money to survive. In fact, the family and social establishment do not match if there is no money. and beautifully lives-living requires money or tokens. So we have to think about increasing our resources.🤔
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Actually no one wants to die soon, but planning for the future assets after death is a good way. As the case above, the whale never shared the information related to his assets to other people. However, I think it is crucial to trust to some body to keep our assets data if we die. The person may be one of our family members.
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Just recently, a news showed how one crypto whale died with his cryptocurrencies worth millions of dollar. No member of the family had access to his private keys and other login details. Are you ready to face the same fate and leave your children or family without having access to your hard earned cryptocurrencies some day to come? Showing your wallet login details to them now can also be risky so what are some of the preparations you are making towards the retrieval of your money when you are gone for life one day?
You have to provide the private keys, somehow. If you do not trust, a person. split the private keys to two or more persons, and do a will. When it's time, the holders of the split parts should bring them together, as the will commands. You can modify this proposition to fit your needs.
Actually, this is a clever idea and i'm in support. I think this can be the safest way to pass on your hard earned money after your death to family or any one who succeeds you. But make sure the parties involved do not communicate and do not know much about cryptocurrency. If they communicate frequently and know about cryptocurreny, they can equally know that combining those keys will be your private key and your money will be gone before you even realize.
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Actually, this is a clever idea and i'm in support. I think this can be the safest way to pass on your hard earned money after your death to family or any one who succeeds you. But make sure the parties involved do not communicate and do not know much about cryptocurrency. If they communicate frequently and know about cryptocurreny, they can equally know that combining those keys will be your private key and your money will be gone before you even realize.
You do not have to tell the trusted persons, that you give them private keys, It can be a closed envelope, and say that you want them, to be opened after death. Inside, there will be instructions, of what you want them to do..
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Just recently, a news showed how one crypto whale died with his cryptocurrencies worth millions of dollar. No member of the family had access to his private keys and other login details. Are you ready to face the same fate and leave your children or family without having access to your hard earned cryptocurrencies some day to come? Showing your wallet login details to them now can also be risky so what are some of the preparations you are making towards the retrieval of your money when you are gone for life one day?
I will keep telling people (family) who I consider capable of keeping my crypto wallet key secret, so as not to lose forever. Because we know crypto is not like a bank that can be inherited. If we lose the password, we will lose forever. And I think it's something very important for us to anticipate from now on. Why not?
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that's truly sad that assets can be lost and disappear as the system still didn't made up with such cases.
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If we don't pass on the crypto private key wallet the closest person will lose all the assets we have in any amount. Because the confidentiality of crypto wallet is very difficult to penetrate and other people also don't know which account to have if we die.
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In one article of a blogger, I read that in the future, the legislation of the countries will be adapted so that cryptocurrencies can be bequeathed to their relatives in the event of your death and issue a complete testament. I don’t know how the procedure of transferring private keys to a notary will work.
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We can give our tokens/assets to our family members after we die. To give them, we need to share the data to one of our family member that can be trusted to manage it wisely. I think I will do this way, at least to secure may assets's future.
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i think we must write passpharse and private key. and store on brankas. and write simple instruction to access them. so if we died. someone can access it .
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Just recently, a news showed how one crypto whale died with his cryptocurrencies worth millions of dollar. No member of the family had access to his private keys and other login details. Are you ready to face the same fate and leave your children or family without having access to your hard earned cryptocurrencies some day to come? Showing your wallet login details to them now can also be risky so what are some of the preparations you are making towards the retrieval of your money when you are gone for life one day?
A very good question but its hard to answer i think you should wrote all your keys and log. in details so your heir or family can access it in times of sudden event that we cant predict like death.
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in anticipation of premature death, I think by making a file containing all of our wallet's private keys on one of the flashdisk it will make it easier for the heirs to assess our assets if we die
but we must first introduce crypto to our heirs later
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I also heard the news, about whale crypto who died and no one can access into his account, this is a lesson for us as crypto anthusiast when we die, we must be able to inherit our assets to the people we care about, not to the results of our work wasted.
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In one article of a blogger, I read that in the future, the legislation of the countries will be adapted so that cryptocurrencies can be bequeathed to their relatives in the event of your death and issue a complete testament. I don’t know how the procedure of transferring private keys to a notary will work.
Already, you can make any will, including the transfer of inherited cryptocurrency. There is no particular form here. It is important that it is clear for the manager of the will and the heir to the cryptocurrency. Of course, we must think in advance about the possibility of our death. However, as a rule, we are never ready for it.
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important subject. We often tend to think that death is far away, but anyone can die at any time... so crypto assets must be safeguarded...
never given it much tought, but i think I will leave all my crypto data written down for my wife and son... but I'll have to explain them first on how to use it
in case you are a whale with several children, a good idea would be to split the private keys, leaving instructions on the will (like someone else suggested)
cheers
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that's truly sad that assets can be lost and disappear as the system still didn't made up with such cases.
There is no problem with the system, I think it is about our plan to prepare everything including the death. In this case, we should be aware that the death can happen at any time and suddenly. So, we need to prepare it by storing our asset's data on the place that our family members can know.
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I think about this better to tell my family in advance. otherwise, why these old cryptoactives and why, if suddenly you will not?
the main thing is that you should not be killed by your own family if they find out that on the second account too many crypts, lol.
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Just recently, a news showed how one crypto whale died with his cryptocurrencies worth millions of dollar. No member of the family had access to his private keys and other login details. Are you ready to face the same fate and leave your children or family without having access to your hard earned cryptocurrencies some day to come? Showing your wallet login details to them now can also be risky so what are some of the preparations you are making towards the retrieval of your money when you are gone for life one day?
You have to provide the private keys, somehow. If you do not trust, a person. split the private keys to two or more persons, and do a will. When it's time, the holders of the split parts should bring them together, as the will commands. You can modify this proposition to fit your needs.
No i disagree with you what if one of the two holder died so we go the main quastion not answerd.
For me i keep the login words and passwords and phrasess in a hard copy and in an offline removavle disk and a printed copy as document. I safe all in my safebox it is hard to break, but with hard effort my family member can get to it if they use force. By this way i protect my family after me.
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There is no problem with the system, I think it is about our plan to prepare everything including the death. In this case, we should be aware that the death can happen at any time and suddenly. So, we need to prepare it by storing our asset's data on the place that our family members can know.
You are right. Every crypto holders should know the way to prevent their assets from losing. The death may make our assets to lose, but I think we can make the way to deal with it.
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Why showing your login details to your wife or husband is risky! it is just like sharing bank account information, I told and showed my wife how to log in and use my wallets in case something bad happened that is a reasonable and logical thing to do. I remember there was a project launched back in 2017 that was focusing on that area if I remember correctly it was called Mywish or Mywell I don't really remember and I do not know if they are still operating until now or not.
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Just recently, a news showed how one crypto whale died with his cryptocurrencies worth millions of dollar. No member of the family had access to his private keys and other login details. Are you ready to face the same fate and leave your children or family without having access to your hard earned cryptocurrencies some day to come? Showing your wallet login details to them now can also be risky so what are some of the preparations you are making towards the retrieval of your money when you are gone for life one day?
In my opinion , It is a good advice. You can share your privat key and password with your couple. It is good way to do, if you dead.
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Too several altcoins are dying, as a result of they need no space during this market and they're simply a shitcoins. Top altcoins have a lot of potential in cryptoworld, not simply bitcoin and eth. XRP has partnered with several banks, XEM traveling around the globe and alternative coins do the identical issue therefore some altcoins aren't useless.
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Just recently, a news showed how one crypto whale died with his cryptocurrencies worth millions of dollar. No member of the family had access to his private keys and other login details. Are you ready to face the same fate and leave your children or family without having access to your hard earned cryptocurrencies some day to come? Showing your wallet login details to them now can also be risky so what are some of the preparations you are making towards the retrieval of your money when you are gone for life one day?
In cryptocurrency, this will be a constant problem. Cryptocurrency is not money in the bank, where, after the death of a relative, these data are usually known and available. Here we need specific secret keys, without which no one can have a cryptocurrency. People will almost never be ready for their death, and therefore the cryptocurrency will always be irretrievably lost. This is inevitable and you need to be prepared for this. Over time, the number of bitcoins in circulation will also constantly decrease. Whatever recommendations we give here, it will inevitably happen all the same.
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This is a very important thing to think about... that's why I explained to my wife how to use my crypto wallets... otherwise if you don't do this you will risk to loose everything when you will die.
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In my opinion , It is a good advice. You can share your privat key and password with your couple. It is good way to do, if you dead.
Sharing private keys to other people is not good but we have no choice for now. Yeah, sharing to our wife is not so bad idea. It can be applied and may be the best one to know our data.
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Just recently, a news showed how one crypto whale died with his cryptocurrencies worth millions of dollar. No member of the family had access to his private keys and other login details. Are you ready to face the same fate and leave your children or family without having access to your hard earned cryptocurrencies some day to come? Showing your wallet login details to them now can also be risky so what are some of the preparations you are making towards the retrieval of your money when you are gone for life one day?
This is really a big problem for crypto holders, i chance upon an app call INFINITUS which can solve this problem and you might be interested and their website is over here https://www.infinitustoken.io anyway i am not of any affiliate with them just pure sharing of what i know to the members here
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This question has awakened me .
Now,. I plan showing my son how this Cryptocurrency business is done and put him through how to use private keys and others.
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Me and my child are playing together in the crypto world. We fill each other in the opportunity of the krypto market opportunity. So I'm not too worried after I'm gone. My child can certainly continue.
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This question has awakened me .
Now,. I plan showing my son how this Cryptocurrency business is done and put him through how to use private keys and others.
This is a wonderful way, to make members of the family, to learn about cryptocurrency. I wish you success.
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Just recently, a news showed how one crypto whale died with his cryptocurrencies worth millions of dollar. No member of the family had access to his private keys and other login details. Are you ready to face the same fate and leave your children or family without having access to your hard earned cryptocurrencies some day to come? Showing your wallet login details to them now can also be risky so what are some of the preparations you are making towards the retrieval of your money when you are gone for life one day?
In the first place i need to find project to resist so long ,in this bear market a lot of project have problem with money and they don't offer real usefull for the token,afther that i will see.
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Having crypto assets in large amounts makes me worry about losing a lot of money because of the hack if I keep my assets in a hot wallet, therefore I will save my crypto assets in a cold wallet or paper wallet. I will keep it in the bank and give it to the heirs if someday something happens to me.
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Just recently, a news showed how one crypto whale died with his cryptocurrencies worth millions of dollar. No member of the family had access to his private keys and other login details. Are you ready to face the same fate and leave your children or family without having access to your hard earned cryptocurrencies some day to come? Showing your wallet login details to them now can also be risky so what are some of the preparations you are making towards the retrieval of your money when you are gone for life one day?
I don't what will happen after my death. My family know little about crypto but handling wallet is not their function. They don't know it. So it is a big problem.
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i don;t think it is risky exposing your wallet address to your family. as much as we have next of kin in our financial systems. we should try to explain or get a family member involved in the crypto space to avoid loosing everything. it will be lost for ever if such happens.
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I don't what will happen after my death. My family know little about crypto but handling wallet is not their function. They don't know it. So it is a big problem.
You should start to let your family know about it. At least, one of them know about crypto asset and know how to run + manage it.
You will need them to keep and continue your asset. I is very unfortunate if the asset only disappears.
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Just recently, a news showed how one crypto whale died with his cryptocurrencies worth millions of dollar. No member of the family had access to his private keys and other login details. Are you ready to face the same fate and leave your children or family without having access to your hard earned cryptocurrencies some day to come? Showing your wallet login details to them now can also be risky so what are some of the preparations you are making towards the retrieval of your money when you are gone for life one day?
I can advise each other to show your private key to your love ones. For if we die, we will have the benefit of money. It is also better to teach them how to use crypto coins. To avoid risky..
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Very hard to answer because your question is very thoughtful. I never thought about this thing. Now I plan what to do with my tokens.
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Honestly, I don't know what will happen later if I suddenly die with the Cryptocurrency digital asset that I have now, because right now I also haven't given my Cryptocurrency wallet account password to the people closest to me, maybe the risk the worst is that I will lose all the assets that I have.
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The proportion of such cases is necessary to keep a sheet with all the data so that your relatives can easily use them later!
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Scary question. I didn't prepare anything. Because we don't know when we will go. And I don't want to think about that. I also did not hold the coins, because I already held them in fiat.
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Just recently, a news showed how one crypto whale died with his cryptocurrencies worth millions of dollar. No member of the family had access to his private keys and other login details. Are you ready to face the same fate and leave your children or family without having access to your hard earned cryptocurrencies some day to come? Showing your wallet login details to them now can also be risky so what are some of the preparations you are making towards the retrieval of your money when you are gone for life one day?
what I do is save all of my private keys into hard disks, notebooks and other devices such as cellphones. I think it's helpful enough if there is a family that knows. I will notify private keys to the family, before I die.
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This question has awakened me .
Now,. I plan showing my son how this Cryptocurrency business is done and put him through how to use private keys and others.
Some times i think about this. It is really a big problem for crypto holders. I have decided, i will share my private key, password and operating system of my wallets with my wife. So that after my death she can obtain my crypto assets.
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What happens after death? Death can happen at every minute. But in order to transfer the keys to wallets to someone, the following conditions must be fulfilled: 1) you must trust this person unlimitedly - be it a wife, brother, mother, father. Life is an evil thing. A person, having learned that you have a good amount in your wallet today, which may depreciate tomorrow, may well want to seize your funds today 2) a person should be able to trade on the stock exchange, know the basics of cryptocurrency, and own other skills ...
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Yes, we need to provide for the possibility of access to our cryptocurrency to our loved ones, although we will always be not ready for our own death. In any case, access to the cryptocurrency will be constantly lost precisely because of the death of their owners, and this is inevitable.
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maybe leave in the cold storage un usable or I will tell my child's before my death ::)
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In my opinion, we really have to tell the people closest to us about the password or password of our account or wallet, this is all done to safeguard our assets if something happens that we don't want like death. In that way, make sure all our assets will be safe and return if we experience death.
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I am so compact with my junior. So, in playing crypto, we complement each other. There are no secrets that we cover about cryptocurrency. If something happens between us or me, someone will continue. I anticipate this because I know that in the crypto world it is also full of mysteries.
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I think that ew should not think about such things, we just need to live for today, of course we also need to calculate and think about our future and our income, I think that in such a situation everyone can simply store data somewhere on some device that you will can then pass on to someone.
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Just recently, a news showed how one crypto whale died with his cryptocurrencies worth millions of dollar. No member of the family had access to his private keys and other login details. Are you ready to face the same fate and leave your children or family without having access to your hard earned cryptocurrencies some day to come? Showing your wallet login details to them now can also be risky so what are some of the preparations you are making towards the retrieval of your money when you are gone for life one day?
When you dead, If you share your privat key, I think your child or couple can use your tokens. Sell them or trading.
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You can leave your assets as an inheritance, I think it is the best way to save your funds
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I researve my private key and all passwords in my diary and after my death, my son and my wife will use it.
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Just recently, a news showed how one crypto whale died with his cryptocurrencies worth millions of dollar. No member of the family had access to his private keys and other login details. Are you ready to face the same fate and leave your children or family without having access to your hard earned cryptocurrencies some day to come? Showing your wallet login details to them now can also be risky so what are some of the preparations you are making towards the retrieval of your money when you are gone for life one day?
Your question is something crypto adopters should really look deep into recently i chance upon an ICO (Infinitus) this ICO is introduce to tackle this problem and i find it to be very beneficial if something bad happens.
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It is confirmed that all the assets that I have will be lost, because no one knows the private key from the wallet or the login and password from the exchange that I use to store crypto assets.
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This is a very relevant and important topic that we should consider giving proper attention to.
Personally, I have started teaching my first child about the rudiments of the blockchain technology .
How to operate mew wallet and exchanges.
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Death is a journey that we cannot miss. For that, we have to think about starting now. In order for the tokens that I got and I have can continue to be useful, I have written in my diary about the important things that my children can continue. An example is the account password and the key to my wallet.
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I think that being ready for this should be one of our main concerns. If we are working on gathering our coins hard, we should be sure that in case of accident this work won't go for nothing
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Just recently, a news showed how one crypto whale died with his cryptocurrencies worth millions of dollar. No member of the family had access to his private keys and other login details. Are you ready to face the same fate and leave your children or family without having access to your hard earned cryptocurrencies some day to come? Showing your wallet login details to them now can also be risky so what are some of the preparations you are making towards the retrieval of your money when you are gone for life one day?
What a waste of good fortune. hmm 8)
It is always a good idea to share your Private keys information with your trusted family members such as your wife, uncles, parents, or even grandparents. To avoid making the same mistake.
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My children will actually know about my private keys, no way I am keeping all that to myself
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You can leave your assets as an inheritance, I think it is the best way to save your funds
I agree with this completely. There are many stories, where women and children, or man and children or only children, get the parent's funds, and move away. That's why an inheritance contract is the safest choice.
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It is really hard to think how will you tell them about your login details if ever you will die, I think the best way is to make a note composing of all your login details and say to your family members that open it if ever that you will die, but hopefully everyone of us should live longer than ever
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You should send your private key to your children or save it in bank, which will send to them after your death.
Or you can lock your token to decrease supply to increase token price, it is just gift for token holders, who support that project with you in your life. I think it is not bad thing for crypto world :)
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You should send your private key to your children or save it in bank, which will send to them after your death.
Or you can lock your token to decrease supply to increase token price, it is just gift for token holders, who support that project with you in your life. I think it is not bad thing for crypto world :)
Yes, to lock coins, is a good idea, but the family should have unlocked coins, to profit from the higher prices. It's difficult to find the best solution.
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Actually i thought about this our local board. Currently I believe millions worth of coins are forever lost in wallets and exchanges as a result of the death of its owners. Tokens owners should prepare to make sure they pass access to their tokens to their loved ones so that in case anything happens, they will be able access it.
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Another option is multi-signature transactions. To make a transaction ALL members of the family, must agree. This will prevent somebody losing the private key.
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Before I die, I would come up with a box which says "Don't open the box till I die".
It will contain all of my private keys, mnemonic phrases in their respective wallet addresses as inheritance.
The only thing that I'm making sure is that the box won't come out in my bedroom.
Everybody has their own style, but this one? It's just me lol. ;D
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If you find the box, opened one day. The reply will be, "I thought you were dead". :)
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My portfolio is bleeding lol... On a more serious note, I haven't thought of that yet but it something we should consider. I use Atomic Wallet and I have activated the thumb print as a security mechanism. It will obvious for them to access my wallet when I'm gone.
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There is not too much crypto in my wallet. So i don't worry about after my dead. My family doesn't know how to do with any wallet even if he operate computer. No matter what will happen after my death.
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Just recently, a news showed how one crypto whale died with his cryptocurrencies worth millions of dollar. No member of the family had access to his private keys and other login details. Are you ready to face the same fate and leave your children or family without having access to your hard earned cryptocurrencies some day to come? Showing your wallet login details to them now can also be risky so what are some of the preparations you are making towards the retrieval of your money when you are gone for life one day?
We really need to think about that and we won't expect what would happen in the future. I just put my private key in my account and gave it to my love one and tell her to open it if something happens to me. She know btw that i earn on bitcoins.
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Firstly we focous on our goals instaed of our death , if we have a good amount of crypto collection , then we should discussed about it to our children or give private key and phrases words them.
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write a letter to the family as an asset of the future which is very valuable for my children in the future I think this is enough to solve the problem to be in use in the future I also did not know I die sometime, but preparations to provide asset bitcoin I have prepared for them.
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If you didn't by any means write down your login details and private keys and handed them over to a third party, it will be as good as lost because there is certainly no way anyone can gain access to your wallet or vault. This is why you must always trust some of your most kept secrets with someone close to you in case of situations like this which are totally beyond your control.
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nothing,,, but i will write my all accounts private key, phase and password in my diary book. it would be handed to my son.
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Man is mortal... Nothing would be happened. Just vanish all my accounts and assets.
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Nothing will happen because I have no child in my family. So i donate all my assets to orphans.
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My tokens will be used by my son's children or my brothers after my death. I will leave the private ones and they will login and use them.
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I don't nothing about my future.but when I passed away then I donate all my cryptocurrencies in an orphanage and medical college students.
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I can't even tell myself what will happen to the coins in my wallet after my death. However, if my sons work on these sites, they will be able to use it.
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That's the best thing. In fact, the matter becomes much bigger when you think about it. Maybe someone will use my token after I die. But after I die I will leave my tokens for my children and teach them.
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I don't never think such kind of future.. If I accidentally dead in any way I just put my password and all accounts in my diary and it will be sent to my son Tommy.
This is fantastic. You are really advanced and also conscious.
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I have little family with my wife and a little daughter but alas my wife and daughter don't know about cryptocurrency and others virtually currencies. What's would be happened after my death I don't personally know?
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After death my wallet and wallet private who I am with my faithful people. Such as between the children of my family and my brothers.
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You're so advance.
But you have a point.
All things come to an end.
Then i just leave it.
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As far as nobody knows your password or Private key I believe any coin in your wallet will remain there forever.
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Man is mortal... Nothing would be happened. Just vanish all my accounts and assets.
You should share your private keys among your families members if you have. Otherwise you lost all your assets.