Plan now, you could die suddenly as an investor.

[348Judah]

I lost a friend this week; he was meant to be 30 years old today, but he died a few days before his birthday today and was actually buried today. It is terrible news, and it got me thinking that death can be untimely, and it is not only the old or terminally ill that are close to death but also anyone; most investors in bitcoin will not get to old age to actually enjoy their investment. Thinking about that, it has to be said that planning for who to own your bitcoin after your death does not have to be when you are old but when you have accumulated bitcoins to a sufficient amount.

As your investments begin to mature into a considerable amount, while you consider the security and safety of it, it is also important that you consider the situation where you die suddenly and your Bitcoin gets lost; no investor would want that except they have no family and friends worthy enough for it.

Condolence to the loss of your friend,

That been said, we are not to live as those that were without hope, because we can't tie ourself to living in fear of what tomorrow maybe, though this does not also affects our decision for planning against tomorrow, we should at least have a confidant in which we are used to, trusted and have confidence with base on our years of mutual relationship together, if what we are doing is not illegal, then we should be proud of it and be able to carry others along in knowing what we do and also understand why we do them, then we can choose between our wife, children or siblings we trust more to have some of our secrets with, while we can learn on how we can pass our inheritance after we left and have plans on that too.

[Saint-loup]

Unfortunately it's very hard to make plans for such thing if you want to avoid other people to know you are self storing cryptos at home. If you reveal plans about that, they will guess you're holding large amounts in addition. So you need to find solutions allowing to not tell to anyone or only to very few trustworthy people at most, what are your plans for your crypto legacy after your death.

[leonair]

I lost a friend this week; he was meant to be 30 years old today, but he died a few days before his birthday today and was actually buried today. It is terrible news, and it got me thinking that death can be untimely, and it is not only the old or terminally ill that are close to death but also anyone; most investors in bitcoin will not get to old age to actually enjoy their investment. Thinking about that, it has to be said that planning for who to own your bitcoin after your death does not have to be when you are old but when you have accumulated bitcoins to a sufficient amount.

As your investments begin to mature into a considerable amount, while you consider the security and safety of it, it is also important that you consider the situation where you die suddenly and your Bitcoin gets lost; no investor would want that except they have no family and friends worthy enough for it.

No one knows when someone will die and no one can predict. So as a Bitcoin investor, everyone should keep their family informed about these things and hide the private key of their wallet in a secret place so that after you die, your future generations can find it and access your Bitcoins and enjoy them. Because since Bitcoin depends on a private key, there will be no other way to access that wall except that key. And Bitcoin will be a very valuable asset in the future. It is already very valuable, but in the future it will be much more expensive. So it will never be admirable to lose your investments completely. The purpose of building your wealth is to live comfortably for yourself as well as leave something for future generations. So of course, you need to keep your private keys in a place so that after you die, your future generations can find them and access them.

[Jaycoinz]

I lost a friend this week; he was meant to be 30 years old today, but he died a few days before his birthday today and was actually buried today. It is terrible news, and it got me thinking that death can be untimely, and it is not only the old or terminally ill that are close to death but also anyone; most investors in bitcoin will not get to old age to actually enjoy their investment. Thinking about that, it has to be said that planning for who to own your bitcoin after your death does not have to be when you are old but when you have accumulated bitcoins to a sufficient amount.

As your investments begin to mature into a considerable amount, while you consider the security and safety of it, it is also important that you consider the situation where you die suddenly and your Bitcoin gets lost; no investor would want that except they have no family and friends worthy enough for it.

Sad news, sorry for the loss.

This is an important phase in your Bitcoin investment journey to actually get to know who you will turn your investment to if actually life decides to come knocking at your door. Some person are usually scared of show casing their asset holding thinking of the risk involved but it's the right thing if you have someone trustworthy or even reason for saving it in the first place because I believe the purpose of having such asset is to make life easy and also for the love ones around you.

[JoyMarsha]

As your investments begin to mature into a considerable amount, while you consider the security and safety of it, it is also important that you consider the situation where you die suddenly and your Bitcoin gets lost; no investor would want that except they have no family and friends worthy enough for it.

Our Bitcoin accumulation  getting lost when we die of sudden; is it what will raise concerns? Many people lose their properties that weigh billions of dollars, and life still goes on without holding on a bit.

If peradventure we didn't tell anyone about our Bitcoin accumulation before we die, life goes on, and our families will survive on their own without our wealth. We were born into the earth empty-handed, and we are leaving the earth with nothing. I don't bother myself with the wealth to accumulate on earth because they will all be vanity when we are no more. The living will squander the wealth we suffer to build over the years for our good. Why are we bothered about them when they can survive without our wealth(us) existing.

[batang_bitcoin]

I'm sorry for the loss of your friend. I guess that all of us have this close friend or relative that we've just lost whom is dear to us. The importance of making a plan if ever we die suddenly and will leave our crypto holdings to our family. It is about time to teach them and how to get involved on holding Bitcoin. For the most of us, we can easily teach them and they'll have no complain since this is money. We have to tell them straightly that this is for their own sake if ever we pass and the calling that's done to us suddenly has come.

[Ziskinberg]

It’s useless to invest without prior planning first. That should never be overlooked. Investing comes with present and future plans, not just on how to secure your profits, but on how to secure yourself and your loved ones as well especially when sudden circumstances occur. Otherwise, the fruit of your investment will just go wasted, and more likely it would end up others benefiting it.

While death is inevitable, but the future problems will be prevented. Know your plans and goals why you invested in the first place, and put them into action when your investment has paid off.

[Mindyspace]

Losing a young friend really makes you think about life and death. When it comes to investing in Bitcoin, it’s important to plan what will happen to it if something happens suddenly. If you accumulate a large amount of crypto without leaving clear instructions or your private keys accessible, your Bitcoins could get lost. That’s why it’s essential to think about how to keep everything organized, who will take care of it and where the information is stored, so that you don’t leave anything behind. I just think that you should have someone you can trust in case something happens.

[Smartvirus]

As your investments begin to mature into a considerable amount, while you consider the security and safety of it, it is also important that you consider the situation where you die suddenly and your Bitcoin gets lost; no investor would want that except they have no family and friends worthy enough for it.

Death has never been fair to anyone, not to any family as well, it doesn’t give you the time to prepare, think, recollect and settle yourself on pending issues before you kick the bucket.
Now our days, we try to build generational wealth which is beautiful but then, it puts some of our investments at the mercy of others and our private key or seed phrase have come by a complicated handling.

Sorry for this loss, it’s a hard one to take really, especially at such a young age when everything was just being set up. You know, it doesn’t really matter if you indeed invested so long as you don’t have kids to take it over and you’re not there to enjoy it. It all comes down to you missing in it and that’s really sad.

As such in goring through life and investments, be sure you aren’t giving yourself so much discomfort for a life that isn’t promised.

[headingnorth]

There are several methods used for bitcoin inheritance or estate planning.

I suggest trying a few of them out by allocating small amounts of bitcoin to each method.
Then after a few months of practice and hands-on experience you can figure out which one works best for you.

After settling on one you feel very comfortable with, you can put more (or all) of your bitcoin into it.

One option is using a third-party provider to hold one of your keys.
Unchained Capital, Casa, Nunchuk, River, The Bitcoin Way are some who offer this service.
Some of these may have a monthly fee.

[X-ray]

Losing a young friend really makes you think about life and death. When it comes to investing in Bitcoin, it’s important to plan what will happen to it if something happens suddenly. If you accumulate a large amount of crypto without leaving clear instructions or your private keys accessible, your Bitcoins could get lost. That’s why it’s essential to think about how to keep everything organized, who will take care of it and where the information is stored, so that you don’t leave anything behind. I just think that you should have someone you can trust in case something happens.

It's always good to let our family know about the seed phrase and what's in our posession.
Some people like to be discreet, that's definitely their right to do so but it'll help a lot of the asset can also be accessible for the family.

[DanWalker]

All of us are busy in accumulating Bitcoin but most of us are not addressing this aspect of Bitcoin which is to handover the seed along with other details to our next of kin. Death is harsh reality of life which is certain while life is not. It must be clear to all of us that our Bitcoins will be lost forever in case we die and have not handed over material to our next of kin about how to access Bitcoins.

There was a similar post like that in the past and after going through that I have passed necessary details to to my family on how to access Bitcoins in case I am not with them anymore.

There have been many threads discussing whether we should share our bitcoin information with loved ones or plan for inheritance. But I find most people are quite selfish, they claim not to trust anyone, not even their parents who gave birth to them or their wives who will be with them for the rest of their lives. This shows that it is not that people do not think about this issue, but that they consider bitcoin more important than anything else in their lives. For them, bitcoin is everything so they would rather let bitcoin disappear with them than leave it to their loved ones.

As in previous discussions, I always advocate sharing our seed phrase/private key with our closest loved ones. Otherwise, it would be a waste if something unexpected happened to us, and those bitcoins disappeared with us.


By the way, OP, my condolences to your family.

[MusaMohamed]

As in previous discussions, I always advocate sharing our seed phrase/private key with our closest loved ones. Otherwise, it would be a waste if something unexpected happened to us, and those bitcoins disappeared with us.

If you lose your bitcoin private keys, you lose your bitcoin. If you passed away and noone inherited your bitcoin private keys, your bitcoins lost too. Loss here is access loss but bitcoin remains on the Bitcoin blockchain, in UTXOs and in Bitcoin total supply.

If you don't have inheritance plan, your bitcoin will be lost as same as around 4 millions of bitcoin were estimated lost forever and it will be considered as unofficial gift and donation to other Bitcoin holders.

Lost coins only make everyone else's coins worth slightly more.  Think of it as a donation to everyone.

Lost Bitcoin: 3.7 million Bitcoin are probably gone forever.

Your uninherited lost bitcoins will become inactive and it will be recorded as inactive UTXOs and become more dormant with years like dormant UTXOs with ages of 7 years - 10 years+.
https://www.bitcoinmagazinepro.com/charts/hodl-waves/

[Fundamentals Of]

I offer you my condolences. That's the reality of our existence here. It definitely ends. As to when, we can't even tell. Preparation is indeed important regardless of age.

My Bitcoin investment is small. My family is aware that I have invested some of my savings in Bitcoin. Some members in our family are familiar with it. I think they know that they have to look for my seed phrase in case I will go ahead of them. That's enough preparation for me I guess.

But more than this kind of preparation, I think we should also be enjoying the fruits of our labor and investment. Sometimes, all we think is to save. But for when? We are not even sure we are still here tomorrow.

[Oshio-man]

I think I get your point op, even though you use death to advice people to write their seeds phrase down in case death occurs, it will be easy for their family members to gain access to their bitcoins but some people will not take sure advice from you, because they don't trust family members or friends, despite I am planning to hold bitcoin for long term, I don't think my mother or siblings will find it difficult to gain access to my bitcoin because there is no one can predict death.

[Pi-network314159]

I lost a friend this week; he was meant to be 30 years old today, but he died a few days before his birthday today and was actually buried today. It is terrible news, and it got me thinking that death can be untimely, and it is not only the old or terminally ill that are close to death but also anyone; most investors in bitcoin will not get to old age to actually enjoy their investment. Thinking about that, it has to be said that planning for who to own your bitcoin after your death does not have to be when you are old but when you have accumulated bitcoins to a sufficient amount.

Sorry for your friend loss or departure. It is painful to see how a youth of that age died untimely abandoning his goal or dream. But however what then can we do? Nothing.. because life is inevitable meaning that everyone must die someday. Although we have discussed this matter or issues of transferring our wealth to our heirs or next generation, but it seems no one is talking about it anymore but perhaps it is important we take this matter seriously once again. We often think that before we die we will inform our children or family about our asset on Bitcoin, but however we haven't made any attempt because we think we are still young not to talk about it. But who knows what happens next? Mr deaths may come unexpectedly as usuall, that is why we need to change the mentally of trying to get old a little bit before trying to inform our loved ones. Let this topic be a challenge and a motivation to make us do the needful before we suffer in vain . Because it will be bad we invest for 5-10 years and when deaths comes, your family member will have no access to your crypto wallet.

[michellee]

It is a lesson for us to prepare anything we need for our family. If you have Bitcoin and want to give Bitcoin as legacy to your family, then you should teach who you will give your Bitcoin. When your investment grow, you should think what you will to do with your Bitcoin investment.

You don't have to wait until you grow old because death can come anytime without we know. If we can prepare what it needs, they can continue what we did and it is better if we leave Bitcoin heritance to our family. You can write a letter of heritance and give to one or more about the explanation of using Bitcoin completely.

Death can come suddenly. So we can only do what we can do while we still alive. Let along what will happen later because we already prepare what we can.

[TheUltraElite]

Well that is a sad news. But we are losing people everyday, we should look for the future where things are better. Hope is what keeps us alive and kicking.

As far as investments go, the next of kin will inherit it, whether they have made preparations for the same when coming to non-traditional assets, is the question.

One thing to note here, do watch on your own health while keeping up with the bust life adding in risky investments. They take a toll on your well being too. You never know what problems people run into and how they are dealing with it.

[mindrust]

Here are a few good quotes:

“Life is what happens when you are making plans.”

“It is not the goal, it is the journey that really matters.”

What do they mean?

They mean if you get obsessed too much with your financial goals, you’ll forget to live your life.

Let’s say your goal is to have a net worth of $1 million in 10 years… (The net worth goal and the time required are different for everyone)

You worked hard, did nothing else and achieved your goal. What have you actually achieved though? You just lived like a damn plant. You just got 10 years older. You forgot to make friends, you forgot to socialize.

That was the real price which you paid to acquire your wealth.

[davis196]

I lost a friend this week; he was meant to be 30 years old today, but he died a few days before his birthday today and was actually buried today. It is terrible news, and it got me thinking that death can be untimely, and it is not only the old or terminally ill that are close to death but also anyone; most investors in bitcoin will not get to old age to actually enjoy their investment. Thinking about that, it has to be said that planning for who to own your bitcoin after your death does not have to be when you are old but when you have accumulated bitcoins to a sufficient amount.

As your investments begin to mature into a considerable amount, while you consider the security and safety of it, it is also important that you consider the situation where you die suddenly and your Bitcoin gets lost; no investor would want that except they have no family and friends worthy enough for it.

Really? Nobody would ever inherit my BTC when I die. This should be considered "a donation to the community" just like Satoshi once said.
Why are you so sure that most Bitcoin investors won't get to an old age and "enjoy their investment"? Is investing in Bitcoin/crypto unhealthy or something? Do you believe that most "crypto bros" are involved in toxic activities like drinking, doing drugs and gambling?
Life sucks and some people die young. This is a part of the game called "life". I hope that there's an afterlife, but I'm not sure (I'm not a very religious person). We just have to do our best in order to survive as long as possible on this planet.