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

[Mr. Magkaisa]

• 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?

        -      Of course, crypto is really part of the Finance conversation. Now, when I get to the point where I am old, of course I will tell my son about the crypto assets I hold, which are also for him, which I will also inherit from him. Then at the age of 10 years old, I will familiarize him with bitcoin or cryptocurrency.

Now, apart from Bitcoin, I think for 50 years from now, what I see as really possible to follow in Bitcoin's footsteps are Ethereum, Bnb, Litecoin, Dash, .

[Celph]

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.

This is a very important question i feel os yo be put into a whole consideration from the onset.
   Personally,my purpose of working this hard at this period in my life is to secure a comfortable and healthy life later in the future and maybe retire early.Part of this hardwork also brings my crypto investments into the picture.
   By the time I get old; i hope to use all this crypto assets to secure a very comfortable life just like i said earlier;by that period ;alot of coins would  have appreciated greatly;although i wont wait till i get old to start making use of these crypto assets;i hope to make proper use of them to secure a better life while i'm old and for my future generations.

[Celsius]

I need to save some dollars for my future security when I get old, otherwise who will take care of me when I become old in the future? I need to hold on to Bitcoin until I'm old so that I can spend it on my savings when I get older. Moreover, I will definitely keep holding my Bitcoin so that my grandchildren can use my saved Bitcoin in the future.

[bitterguy28]

I need to save some dollars for my future security when I get old, otherwise who will take care of me when I become old in the future? I need to hold on to Bitcoin until I'm old so that I can spend it on my savings when I get older. Moreover, I will definitely keep holding my Bitcoin so that my grandchildren can use my saved Bitcoin in the future.

this is how it should be done and not the other way around unfortunately way too many parents like to use their kids as investments and like to treat them as do overs and pass on responsibility of providing for the family because the parents could not do so you should have been the one to take care of yourself and then your kids you need to make sure that you are giving your kids a bright future and investing in crypto today will do that

[tequilla_sunset]

I need to save some dollars for my future security when I get old, otherwise who will take care of me when I become old in the future? I need to hold on to Bitcoin until I'm old so that I can spend it on my savings when I get older. Moreover, I will definitely keep holding my Bitcoin so that my grandchildren can use my saved Bitcoin in the future.

In the best case - your children.
In the worst case - your savings, mostly.
But we need to be prepared for both situations to happen.

[Celsius]

I need to save some dollars for my future security when I get old, otherwise who will take care of me when I become old in the future? I need to hold on to Bitcoin until I'm old so that I can spend it on my savings when I get older. Moreover, I will definitely keep holding my Bitcoin so that my grandchildren can use my saved Bitcoin in the future.

In the best case - your children.
In the worst case - your savings, mostly.
But we need to be prepared for both situations to happen.

When I get old, I will spend the amount that is appropriate for my daily needs and leave the rest to my grandchildren so that they can spend it later. Besides, at some point, I will sell all my Bitcoins and leave the money in the bank so that my children can use that money for their own purposes.

[Gurujebs]

When I get old, I will spend the amount that is appropriate for my daily needs and leave the rest to my grandchildren so that they can spend it later. Besides, at some point, I will sell all my Bitcoins and leave the money in the bank so that my children can use that money for their own purposes.

The way you prioritize your grandchildren, you seems to love them over your own children. I think basically it's okay if you allow your children have some inheritance of your Bitcoin investment. If you do and gives them, they can do best and hold the ones that are going to their children's to and if you don't trust them enough, add lock time and it will only open when you want it to be delivered to the kids.

As for me, I will not wait until I get old before I spend some of my Bitcoin, if I ever get the opportunity to hold plenty of Bitcoins, I will do and when I have the need to sell after seeing the profits, I will sell because what's the use of buying and holding with profits and you don't use it.

[Aanuoluwatofunmi]

It is more better that we start preparing on ground before that time comes when we must have been of age and couldn't afford doing some things which we are doing now, moreover, it is very important that we apply wisdom to what we are doing, when it comes to our inheritance and whom should benefit from them, however, we should never forget to also eat from what we have toiled and labour for before the due time and then pass accordingly to any beneficiary we want to takeover of our crypto asset.

[kai]

.....
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?

.....

-It seems that if I get old, maybe I will set aside Bitcoin and then just stake it in the local market at Indodax, with an APY of around 3-4%, I think it is also very good for my income when I get old.
-I save or guarantee it to my local market like Indodax to get an APY of around 3-4% in a year, and the rewards in one month I will withdraw as a replacement for my pension salary.
-Ethereum is still the best token for me as an altcoin that is worth investing in. The reason is because the adoption of Bitcoin is very large, solid and well-known.

[Mr. Magkaisa]

      -       If I ever reach the point where I am old enough or old enough, I will make sure that my child has a deep and extensive knowledge of bitcoin and cryptocurrency, so that when I grow old, he can use the crypto assets I will bequeath to him correctly.

I don't want to just bequeath the crypto assets that I have held for a long time without him having any knowledge of bitcoin or cryptocurrency, that's not what I want to happen. Instead, I will teach my child everything I know about bitcoin or cryptocurrency, this is really my dream that I want to happen.

[LogitechMouse]

      -       If I ever reach the point where I am old enough or old enough, I will make sure that my child has a deep and extensive knowledge of bitcoin and cryptocurrency, so that when I grow old, he can use the crypto assets I will bequeath to him correctly.
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I guess that's the best choice right now. Teaching our children anything about Bitcoin and crypto then let's give them some Bitcoin as a reward for the time that they spent learning about it.

I mean aside from donating it to charities and maybe some shelters, my top priority is to give it to my children when my time comes, but before giving it, I will make sure that he knows even just the basics of cryptocurrency and it will be up to him if he will learn the technical side of it. TBH, I'm also thinking of keeping a portion of my current Bitcoin holdings for my future child. Something like 0.001 BTC just for him. Will be held for maybe 1-2 decades then I will be giving it to him through a QR code or something. Isn't it nice?

[bitbit97]

      -       If I ever reach the point where I am old enough or old enough, I will make sure that my child has a deep and extensive knowledge of bitcoin and cryptocurrency, so that when I grow old, he can use the crypto assets I will bequeath to him correctly.

I don't want to just bequeath the crypto assets that I have held for a long time without him having any knowledge of bitcoin or cryptocurrency, that's not what I want to happen. Instead, I will teach my child everything I know about bitcoin or cryptocurrency, this is really my dream that I want to happen.

I dont know what is age of your children, but I believe that when you will be considered as "old enough" or "at retirement age", they will be adults, grown enough to be financially stable and independent, formed as persons already. It is unquestionably right for parents to help their children all the time, but isnt it seems, that when you are 70+, your children will be around 40 probably, and financially supporting them or trying to teach something, or change them will be not the best moment to do.  Not trying to say that it is wrong to do. But, I think children wont take our money in form of crypto or fiat when we about to retire or our life is about to end.

I was thinking about following scenario. Instead of saving and holding money, so that when I die my children get everything, I invest in them today in form of getting knowledge and experience. It might turn that when I about to get old, I would have little money or crypto, because I have spent all of them when children were 0-25 years old, and they got everything excellent quality, top education, best experience.

[KryptoBull]

I guess that's the best choice right now. Teaching our children anything about Bitcoin and crypto then let's give them some Bitcoin as a reward for the time that they spent learning about it.

I mean aside from donating it to charities and maybe some shelters, my top priority is to give it to my children when my time comes, but before giving it, I will make sure that he knows even just the basics of cryptocurrency and it will be up to him if he will learn the technical side of it. TBH, I'm also thinking of keeping a portion of my current Bitcoin holdings for my future child. Something like 0.001 BTC just for him. Will be held for maybe 1-2 decades then I will be giving it to him through a QR code or something. Isn't it nice?

Assuming BTC price will reach 10M USD in 20 years, 0.001 BTC will be worth 10K USD, and its purchasing power will be equivalent to around 5K USD today. I hope you can accumulate more BTC to pass on to your children and grandchildren

It's hard to predict market development in the next 10-20 years. By then, crypto might have become a part of everyday life and everyone can easily access and use crypto as simply as bank accounts and QR codes today. The younger generation will use crypto as a matter of course without knowing that we are currently struggling to get crypto widely accepted.

[0t3p0t]

When I get old, I will spend the amount that is appropriate for my daily needs and leave the rest to my grandchildren so that they can spend it later. Besides, at some point, I will sell all my Bitcoins and leave the money in the bank so that my children can use that money for their own purposes.

For me personally I am not probably gonna store my money in the banks but instead buy physical precious metals and real estate though there are incidents of risks brought by these assets from what I have heard around due to the fact that those people we entrust the wealth we had might make some trouble with the other beneficiary but yeah I am pretty confident that this will not happen to mine.

[Celsius]

When I get old, I will spend the amount that is appropriate for my daily needs and leave the rest to my grandchildren so that they can spend it later. Besides, at some point, I will sell all my Bitcoins and leave the money in the bank so that my children can use that money for their own purposes.

For me personally I am not probably gonna store my money in the banks but instead buy physical precious metals and real estate though there are incidents of risks brought by these assets from what I have heard around due to the fact that those people we entrust the wealth we had might make some trouble with the other beneficiary but yeah I am pretty confident that this will not happen to mine.

Moreover, physical assets are risky and have a high chance of being stolen. If I hold gold or some other form of money instead of holding Bitcoin, then the chances of it being robbed or stolen are much higher. It would be better to hold Bitcoin and when you reach old age, you can sell it and spend your retirement time. It wouldn't be bad if, when you reach old age, you could sell all your Bitcoin holdings and put the money in a fixed deposit in the bank to live off the rest of your time.