I made a topic on this a while ago and I need to get back to syorying this.

At the moment, they'd manage to get half but I used to have a time locked transaction that could execute to my main wallet they'd have access to so that the coins could be spent after an amount of time (eg 10 years).

I never gave much effort to learn the time lock transaction. Assuming before that certain time one can not spend the coins.  Is it even if they know the private key of the address?

I think with bitcoin we overcomplicate things or maybe not. In a regular banking system the beneficiary normally knows you bank details. So can't they take off your money even when you are alive?

For me the fare is that if my next of kin will be able to securely handle the coins I will left.

Read this - https://bcoin.io/guides/cltv.html



I understand your concerns but if I already spend my coins for my family, I don't think they have any reason left to try to 'steal' them behind my back. It seems I trust too much, but I have only given the details to 2 people I blindly trust. The worst is, if they both die with me, then the btc stays in the wallet forever because nobody except them knows about my savings.

Too much reading and understanding coding which is very hard for me. I hope some day electrum will have the feature so that regular users can execute it with easy visual interface like they had the cancel tx (double spend) in the latest version.

In my case two person are living in two different city so chances are slim unless the world comes to an end I guess.

No itd just mean someone wouldn't be able to stumble across the transaction and spend it.

The other way is also possible but wasn't something I really wanted as I still want to be able to move my funds if I need to.

In fact, I thought about it before and thought of creating a plan so that my inheritors could access my Bitcoin in the event of my death, but I have not done anything yet, so if the death occurs immediately, I am confident that they will not be able to access my coins and it will remain stuck in the wallet forever. So something must be done now before it is too late.

That thing is on my head for a long time now so I already made a draft about it, at least, on how my family can access my crypto-funds without my consent. I even teach them but none of them are interested and found even the basic sending and withdrawal of bitcoin as a hassle lol (simply, they are not interested to learn atm even they know and see how crypto changes (improved) our life). Fortunately, I'm in a family wherein being greed is not on our vocabulary.

We don't know what will happen tomorrow. As for me, I always have regular trips (as the only person in our family that knows how to drive) and even how good and safety you are in the road, there are some sh*t that will put you on danger. Even at the moment, if I will now sleep for good (but damn, not now lol) I'm sure they can access my funds later on which is good. As for guidance just in case they are in trouble accessing my funds, they know some of my friends that is crypto-oriented. I will just hope none of my friends will do some sh*t to my family (I doubt there will be).

Yeah sure! I'll make a post on it tomorrow as it'll take a while to explain and I'll have to remember how to do it .

From what I remember I used a hex editor to change the number and previewed the transaction in electrum but I'll spend some time on it later to make sure I remember (as it requires some conversions).

Huh, a lot of different stories, of all ages (from what I can guess) with a lot of different answers here.

This question came to my mind recently after I came into realization that my Bitcoin as well as other crypto holdings are no longer small.

My mission this year has been to make my whole family as well as close friends learn about Bitcoin, a mission that I have failed to say the least due to COVID and some other complications. However, during next year, I will finish what I started.

My plan is to give every one of them a hardware wallet with "small amount" of BTC for their birthdays and start from there. Then I'd teach them where to sell it as whole (hardware wallet included) and to check how much is it exactly worth so they do not get low-balled.

After that, I'll probably start teaching them how software wallet works, how to send bitcoin, how to cash them out on exchanges and how to store them securely. Most of them are already aware of Bitcoin as it's been about 5 years since I started blabbering about it (and never stopped).

However, as of right now, if I were to die (which I am already ready for in contrary to many here, even though I might be one of the younger here), all my BTC would be lost and that would be a waste to say, but at least I'd be happy laying in ground, knowing that I influenced a future price of BTC as there will be a bit less left in circulation .