What will you do with your crypto assets when you get old?

[KryptoBull]

I have read a few topics about how crypto assets on CEXs will be handled after the account holder suddenly passes away. Perhaps we will have updates to inheritance laws to handle crypto assets on CEXs as well, however in this topic I will talk about a different case related to our proactive decisions regarding our crypto assets. I will mention BTC because only BTC has enough value for us to continue having high expectations for the next few decades.

Michael Saylor once shared his plan to burn his private keys after death, which sounds intriguing but I'm not sure how his spirit could burn something. A self-destruct program to permanently delete the keys is a good idea, or hiding the keys in a secret place would also ensure that Saylor's BTC remains safe as a memorial to his contributions to BTC’s development.

I think of a few better possibilities to ensure that the amount of BTC will never be used: burning by sending it to an inaccessible account. Saylor should consider this if he wants to reduce the circulating supply of BTC

I’m not as wealthy as Saylor and I don’t have a grand vision for BTC. I work and get paid in USDT, I use USDT to DCA BTC and I take profits to pay my family’s bills, I’m not even able to hold BTC through a crypto winter. Let’s say I’m lucky enough to accumulate 1 BTC after 50 years and by then 1 BTC = 10M USD, I would have to seriously think about how to manage such a huge amount of assets.

I used to consider giving them to my children, but if they're truly capable, they won't need my assets. Conversely, if they aren't capable, they don't deserve the BTC I've worked so hard to accumulate all my life. Charity seems like a good idea, or using it to travel the world and enjoy life is also an appealing suggestion.

I also thought about depositing 1 BTC or 10M USD in banks and using their permanent savings service, if banks will offer this service in 50 years. The profit from this money can ensure the basic needs of my grandchildren's lives, as I will love them very much. If they don't need this interest, they can donate it to charity to support poor students or patients.

For now, in the immediate future, I will need to try to accumulate 1 BTC within 50 years = 12 cycles, meaning that after each cycle I need to save 0.085 BTC. This is clearly a difficult goal, because I only have 1/10 of that amount. I hope that the uptrend and crypto winter will continue to be maintained and bring me opportunities to make profits and accumulate more BTC.

I would like to know your opinion on this:

• Do you think crypto will become a part of personal finance in the future?
• What will you do with your crypto assets when you’re old?
• Besides BTC, which token do you believe in for the next 50 years?

[>] Michael Saylor’s plan to burn his Bitcoin after death – Following Satoshi’s steps?
Note:

• My opinion has been presented in a topic, on BitcoinTalk forum.
• This topic on AltcoinsTalks forum has included a minor change in the way my opinion is presented.
• This statement is to avoid accusations of plagiarism.

[omori]

1. Yes.
2. If my family members would be positive about crypto and eager to learn - I would share my funds with them, no biggie once I am gone. It's better to share wealth with your loved ones than to burn it.
3. Solana and Litecoin.

[bounceback]

Interested question about our decision for the future about cryptocurrency when got old, firstly all of us have family, having wife and children would be our next generation to receive cryptocurrency assets. I work hard leave them some cryptocurrency assets for the future from bitcoin and altcoin, I believe cryptocurrency keep existing until the future how many big whales and top investor already investing their money in bitcoin.

For lower risk assets holding actually bitcoin and top altcoin such as Ethereum or BNB, its my assets holding will leave for my family in the future when get old and keep having income from crypto after retiring from working.

[Baofeng]

Most likely give it to my children as inheritance.

I mean if you work hard for it, at least someone that you love should be the one who will benefit from it. And I think we have discussed it already many times that it will also or can be treated as a inheritance.

I'm not like Michael Saylor though, he has a lot of money already and so he is set for life and have built generational wealth for his kids. But for us average joe, it's better to give it to our wife then children.

[examplens]

I have read a few topics about how crypto assets on CEXs will be handled after the account holder suddenly passes away. Perhaps we will have updates to inheritance laws to handle crypto assets on CEXs as well, however in this topic I will talk about a different case related to our proactive decisions regarding our crypto assets. I will mention BTC because only BTC has enough value for us to continue having high expectations for the next few decades.

I would emphasize here that we should not store crypto assets on CEX. It's risky in itself because in that case, we don't have full access to the coins, even when we know that many big CEX are closed due to bankruptcy or hack, it's clear that the wrong decision is CEX as a safekeeping of assets.

Even in this case, where someone inherits the money that is on CEX, access to it can only be complicated. Proving ownership can be expensive and can take forever. I'm pretty sure it's easier for the "heir" to learn how to manage cryptocurrencies from a wallet than from a CEX.

[robelneo]

I worked hard to increase my portfolio so the people that should benefit the most are my children and grandchildren; assets are handled from one generation to the next.
And on the tokens that will likely stay in the next 50 years, its to figure I am gone by then and there are new chains coming in, its hard to figure out if its 50 years, if its only ten years then I have Solana and Ethereum on my vote.

[MUGNIA]

1, out of control
2, I will educate my child about crypto and its digital wallet, so that I save in the form of crypto if one day I am old and it is no longer possible to deal with crypto, my child should already understand the world of crypto
3, BNB, SOL, TON and XRP

[0t3p0t]

1. Do you think crypto will become a part of personal finance in the future?
2. What will you do with your crypto assets when you’re old?
3. Besides BTC, which token do you believe in for the next 50 years?

1. No doubt crypto will become a part of personal finance in the future given it's decentralization, inflation and future proof characteristics which we all need to survive in the future though we are not yet sure of what future will look like and what it brings to us like the technological and financial advancements but with crypto I am sure we are secured.
2. Probably pass it on family members who knows about crypto but if no one is an enthusiast then I will probably convert it all to fiat and buy real estate or precious metals which can be inherited to the next generations of my family.
3. Well, I will only trust those within top 20 that is available or will be available in the market in my lifetime.

[LogitechMouse]

I would like to know your opinion on this:

• Do you think crypto will become a part of personal finance in the future?
• What will you do with your crypto assets when you’re old?
• Besides BTC, which token do you believe in for the next 50 years?

1. With institutions embracing the existence of cryptocurrency particularly Bitcoin, and some of the most famous businessmen talking about it, I believe that cryptocurrency particularly Bitcoin will be a part of the financial world that we live in right now.

2. It will depend TBH. I have no plans for now since I'm still at my 20's, but now that you've asked it, I'm already thinking of keeping a specific amount of Bitcoin (maybe around 0.003 BTC), then I will hold it, and will be giving it to my first child when he becomes a teenager. MAYBE that's the first thing that I will do. I guess some of it will be going to a charity.

3. I want to say Ethereum, but it's hard especially with altcoins where anything can vanish anytime. Heck, we might not even see Bitcoin in the next 50 years. I mean we might see a better version of Bitcoin in the next 5 decades, and that's where investors will put their money with.

[MrSpasybo]

• Do you think crypto will become a part of personal finance in the future?
• What will you do with your crypto assets when you’re old?
• Besides BTC, which token do you believe in for the next 50 years?

1. I truly believe in the future of crypto and BTC. When governments start accumulating BTC, people will follow suit to protect the value of their labor. With the ease of entry, the number of crypto holders could even surpass the number of stock market investors.

2. When I'm old, if I still have a significant amount of crypto assets, I'll distribute them similarly to other assets. I hope that by then, my children and grandchildren will have a good understanding of finance and crypto to manage the inheritance.

3. Besides BTC, ETH and DOGE will be the tokens I trust. BNB and XRP also have great potential, but their fate depends heavily on a single company, so the risk is higher.

[ajiz138]

I do everything now for my old age, and also to be a provision for the future of my descendants. So besides preparing for old age, it is also to prepare for inheritance or other things.

I think many people think like this, because we do not live alone, but with our family and descendants. So this is a fairly easy answer for me, which I have answered above.

[rdluffy]

Currently (and this could change, of course), I believe that Bitcoin will survive and thrive as long as I live, so the idea is that I always have BTC in my custody, never needing to sell the whole amount

With this as a premise, I hope to have enough money to only work with things I like, being financially independent until my old age (especially old age).

After that, I'd like to leave 50% to my family members who need it and donate 50% to animal charities.
I prefer to donate in crypto, and them they will decide what to do

[JISAN]

As I am involved in crypto but surely I will inform my future generation about bitcoin and I am sure they will be interested in bitcoin and cryptography.  And I will tell my family members like my wife where my wallet private key is kept safe.  So that my future generations can enjoy them after my death.  And of course I will keep my holdings in bitcoins which will be a safe deposit or holding and will support my future generations financially as long as bitcoins are more expansive.

[electronicash]

how noble it would be for Saylor to do that.
charity would be noble to do. but it would be useless if it goes to some wallet that will not be spent for something. 
i think most off us would give our coins to someone we care or just convert it to fiat and buy a property where their daughters and sons will be able to benefit when they die. for me i would just spend it while i'm alive with my family.

besides BTC, there are lots more after another cycle, i think the top 50 coins today will have higher value already.

[Zed0X]

I find the other options in the poll completely ridiculous. Realistically, there are only two possible scenario that could be done if I held crypto that long. It's either I sell and spend on myself/family or give it as kind of inheritance to my kids. Enjoy the fruits and help secure the next generation's future.