Bitcoin Isn’t Dead But One Day You Will Be

I write about how bitcoin, crypto and blockchain can change the world.
Reports of bitcoin’s demise may have been exaggerated but everyone who’s currently holding bitcoin is going to die one day (probably).

What happens to our digital remnants when we die has been a problem the likes of Facebook and Google have already had to grapple with—but digital currency like bitcoin makes the problem far more pressing.

Now, U.K.-based Coincover, founded just last year, has up with Palo Alto-headquartered bitcoin storage company BitGo to offer bitcoin and cryptocurrency wills—hoping to solve the problem of what happens to your bitcoin when you die.

If desired, no one will know that you generally have cryptocurrency digital asset. So, it is important at the first stage to simply compile a list of assets and how to store them: directly on the wallet; using a service exchange or intermediary; you can also keep your bitcoin on the paper. Yes, cryptocurrencies can be printed on paper and stored in a safe - so even a power outage isn't dangerous. The next step is to determine who will get your digital crypto assets. By the time you die, bitcoin can go up, making your investment more attractive item on the inheritance list. The only issue is that at the moment, no legislation ensure the automatic transfer of bitcoins by inheritance, within the law. At least because governments don't know about the existence of your digital assets. And also cause after losing access to the wallet, it cannot be restored. If you have more then one heirs, than it may be a problem to give them the exact part of your crypto assets. There are two ways. The first is to issue separate envelopes to the heirs to the will. They may contain additional wishes or cryptocurrency passwords. Another option is to give each of the heirs in advance a piece of crypto password or secret wallet number. And tell in the will how to connect them. It may sound like a kid’s game, but this is a virtual asset protection.specialist recommendation. In this case you may even don't need third parties to protect your crypto funds.

I have a guess about that. I read an article about the loss of coins standing still on the bitcoin exchanges. If I can find a link, I will update my comment.

why do you think so? A lot of investors are in , i think it will fall down , but not finished

For some big sharks and the black market was a beautiful rinse and to move money from point A to point B, once taxes involved, all runaway. Don`t need to be a trader to understand it.

After so many years I didn`t have even a wallet