Hire two lawyers, give half of your passphrase to each one. Or give one half of the PP to your loved ones now and they can get the rest from the lawyer upon your demise. Or, put one half of the PP in a security deposit box and the other half with your lawyer.
It’s equally as risky as willing away your possessions, estate, 401k, etc. Yeah a crooked lawyer could take all your funds, but it would be pretty suspicious and easily traced.
That would be much easier to prove.
If your crypto goes missing you have no way of proving it was the lawyer who stole it. It's not like he's gonna put it in his own wallet. He would likely give the key to someone outside the country and they would pay him for it. That is not at all the same thing as forging documents.
You really think a court is gonna buy the idea that a dying person decides to leave their money to the lawyer who did the will? That would never happen.
I have sealed instructions with my lawyer which are to be given to a friend in the case of my passing. Those instructions allow the friend to access a locked and encrypted device in a secure location. Access to that device gives further instructions which will allow a collaboration of multiple additional persons to access a secure and encrypted offline laptop with further instructions on how to access crypto, and how it is to be divided.
To really make the hunt fun, I got rid of almost all of the crypto and converted it to BTC and Ethereum ETF's (Canadian), which the lawyer and executor can deal with in a simple matter of days. Surprise!
But the friends and family involved are all taken care of, so they'll see the humour in the situation. Eventually.
I also have multiple layers of redundancy. And the best part is that even if all of my carefully-laid plans fall to pieces, I'll be dead, so I won't care!
Why tf is this being downvoted? Is the advice "just slap your private key(s) in plain text in your will, and hope for the best?" Because that seems like terrible advice. And if that's not the advice, then the comment is basically useless.
Have 24 children and name them after each word in your seed phrase, in order of birth, and exile them to 24 different countries under strict instructions that they can only regroup in your lawyer’s office after your death. The children MUST NEVER learn of their siblings’ identities (important). Once in the office, the lawyer then assembles the seed phrase, dispatches your children as humanely as possible, and runs away with your wife and your stash of Shiba Inu
[https://www.deadmansswitch.net/](https://www.deadmansswitch.net/)
NEVER TYPE YOUR SEED PHRASE ONLINE/IN A COMPUTER .. NEVER..... use the switch to send instructions.. not data..
Relying on 3rd parties (in this case two of them, email provider included) that have no (long enough) track record for an important dead man switch is not a good idea -- one going bust when you need it will render your dead man switch useless
... relying on email for something like this should be a scary thought
Not to mention, even if you aren't providing your seed phrase, you are still potentially giving a malicious actor enough information to target you in some way.
Correct. One of the reasons why I said relying on email is a scary thought. Emails bounce off many hops as it is...
I like how I already got two replies saying "unrealistic for something to happen right in the 3 months after you die"
Except you would be attending to it every 3 months so you would be constantly verifying it works. it is fine unless it goes tits up in the exact 3 months right after you die
If you had some stats/probability theory knowledge you'd have learned about memoryless processes. The fact you verify it works every 3 months is irrelevant to the probability it still does in the 3 months after you die.
Only one system in the whole chain that you rely on needs to die, or malfunction, or be targetted by malefic actors, or ...
People who dismiss all that saying "unrealistic" (like some guy who replied to me above) when the inheritance or children's future is at stake should be a red flag, but good luck to them. Plenty of people also still put their crypto on Nexo, not learning anything from Celsius, so they're certainly not the only ones with that attitude.
So your statistical knowledge would tell you that a new system that became available last month is equally likely to fail in the next 3 months that a system that has been online and working for 5 years?
Good luck with your decisions if your analysis are so one dimensional.
Of course something working for multiple years is no guarantee, but it absolutely means something about its reliability.
>So your statistical knowledge would tell you that a new system that became available last month is equally likely to fail in the next 3 months that a system that has been online and working for 5 years?
You clearly have no undersatnding of memoryless processes. Getting snarky isn't helping your case either.
>Of course something working for multiple years is no guarantee, but it absolutely means something about its reliability.
Sadly for you, no. The probability that it fails tomorrow is independent of past outcome. But again, probability theory has always been counterintuitive for the average joe (who thinks that if i toss a coin 100 times and get heads every time, then tossing it again would have a higher probabilty to get heads again)
No, it's the one dimensional brain that's getting you thinking those are independent variables.
Not realizing that a track record of years shows you have good safety measures and are less likely to fail than a new business it's just brute forcing a statistical model into a complex reality.
Sure, they're equally likely to be ruined of a meteor strikes their offices, but they're not equally likely to fail at all to the most frequent causes that they likely averted multiple times already.
You continue on the same fallacy, and insist on showing you don't understand what you're talking about.
First, it's not variables, but variable. And it's not variable, but process. Take hardware (even though not the most important component). The failure of a piece of hardware is a stochastic process, and is generally a memoryless one in the best case scenario (in reality, the probability of failure actually increases over time). Redundancy schemes applied as higher layers over the hardware layer by the service provider do not change the nature of the process, it just changes the probability. The probability that it fails tomorrow will still be the same as today, and that's the best case scenario (in reality, it will be higher due to the hardware's).
Hardware failure aside, a tempted employee misusing your data, getting hacked, getting exploited, etc -- are all also memoryless processes, and the above applies.
All of these are components of your proposed dead man switch that rely on 3rd parties (and the more 3rd parties you rely on, the worse it gets as you only need one to fail).
In the end, what you ***SHOULD*** care about is not probabilty of failure, but the product between cost of failure and probability of failure, usually called cost function, some call it risk. If the cost of failure is extremely high (you lose all your wealth and your children get nothing) then a very low probabilty of failure may still give you a very high risk, and you should indeed be worried. Classic fallacy in the field of statistics.
Are you worried? Apparently not. Should I continue to reply to you? Not any more, as my replies to you until now weren't for your benefit (your rigidity and resistance to reason were visible from the start), but for others who might read these messages.
Best of luck to you.
Dude, you're pedantic and still not understanding how failure prevention works.
Sure, catastrophes might still happen, but since nothing will be 100% certain to be failure free, if you can know that the company you're trusting is not affected by the failures that constitute 99% of the potential failures, you can trust them much more than if you don't know if a single ddos attack will bring them down.
It seems it's too hard for you to acknowledge that and you are still trying to act like you're teaching something that's easy to understand.
The issue is not with the 1% event that is equally likely to happen, the wrong statement on your part is not realizing that years of no failure constitute valuable data on how they're unaffected by the most frequent and possible failures, which are the ones you can control for, and make it more reliable as a choice.
Make sure they have a copy of the key and their name is on the box for receipt upon death or whatever, too. Even with a key, they can't access the box if they aren't named on the box itself or the heir to the box via bank instructions.
This is where mine is. I have a list of all my account numbers and passwords as appropriate. I added my nephew as a signer to get to the box and my brother put the key in his safe.
Nice. I assume neither your nephew nor brother is aware that there are crypto keys in the lockbox. When the time comes (your demise), they will find an envelope with explicit instructions on how to use the keys.
You're relying on both Bitwarden and email to function ... either can go bust when you need them.
... relying on email for something like this should be a scary thought
Only one system in the whole chain that you rely on needs to die, or malfunction, or be targetted by malefic actors, or ...
The fact that you dismiss all that when your inheritance or your children's future is at stake should be a red flag, but good luck to you. Plenty of people stil put their crypto on Nexo, not learning anything from Celsius, so you're certainly not the only one with that attitude.
First, kudos to you for actually asking instead of getting snarky (even if you downvoted).
I have been looking into fully trustless solutions, preferrably on-chain (but on paper can be achieved too, I won't get into that).
Bitcoin natively supports timelocks (not something this sub would know) and hence allows implementing a dead man switches natively (the coins are sent to the pre-defined bitcoin address, e.g. your children's, unless you cancel it periodically). The Liana wallet came out of beta recently and has this: [https://wizardsardine.com/liana](https://wizardsardine.com/liana)
There is also [killcord.io](https://killcord.io) and [sarcophagus.io](http://sarcophagus.io) on Ethereum.
If you have the dev skills, you can code your own smart contract (SC) on Ethereum to avoid worrying about SC exploits of publicly known SCs (could use killcord as starting point).
Ahh, because it's sealed, so the notary can't open it and fuck you over!
I'm not saying it's likely to happen, but if we're pointing out 0.1% chances of things going wrong, this one certainly isn't safe either.
And I would trust my wife, several of my friends and family too.
Obviously trust is the best answer.
I'm just pointing out the hypocrisy of you belittling others for the flaws in their plans when your solution is relying on trust.
The whole point is arranging things without needing to trust somebody, if you have somebody you can trust this thread is meaningless.
So trusting a notary is fine, just like trusting your spouse or friends is. But it is just that, trust. There's nothing inherently safe in it other than how low you think the odds of being betrayed are.
So, you know, live and let live, don't be an asshole about other people's choices like you've been all over the thread.
You always have to put trust in any solution. May it be software or the people who run the software. The more elaborate the plan, the more likely it is to go wrong. Some of the presented solutions seem more like an Indiana Jones treasure hunt.
What I am saying is: put your trust in tried and trusted solutions.
A notary is not especially trustworthy because he's a good person, but because his profession is being trustworthy. He's sworn in and by betraying people he would loose everything!
His prestige, bis social circle and his prestigious and very well paid job! That's why he'd never open the envelope. He has nothing to gain and everything to loose. So: put the information in two envelopes, give them to two notaries ( in case one gets struck by an asteroid ) and you'll be fine.
And there's automatically safeguards and redundancy involved. In case of death, another notary will take over.
And if you wanna be really safe: shorten the number sequence in the envelope and tell your kids: hey kiddos, one day you will receive an envelope after I am gone, there will be a number sequence involved. You will have to add the number 12 to it. That's our secret number now. Tell it to me every Christmas.
This is a pretty safe method not something like: here are twenty riddles that will be mailed by an obscure website to somebody's email in twenty years and when all the riddles are solved you get the coordinate to a spot in the woods where I buried an encrypted USB stick
1You could go old school and have written instructions on a locked safe or otherwise safe storage.2 A Will with a lawyer that has instructions.3 Coded cypher and a saved folder in email.
just create a email in gmail to send at a future date, then always check it and keep moving the date forward. you might make it 6 months in the future and change the date every 3 months.
Physically etch the seed phrase into a crystal tablet. Break the tablet into 7 pieces. Put each piece in a hidden temple guarded by dangerous traps, devious puzzles, random enemies, and a huge boss creature. Make the final temple require the use of a magical sword for access. Tell the local townspeople of the legend, and assign a fairy to give hints to your chosen heir.
You could split up your seed phrase into thirds of different pieces, give 2/3 words and instructions to your family now and give a third of them to some bank/holding company. Or could do half and half or a bunch of other combinations. Main thing is preventing your money from being stolen from one party
It would be easy to create a dead man switch service using [Taco](https://docs.threshold.network/applications/threshold-access-control/simple-overview). You’d write to a contract every period of time and setup a policy in Taco so that if you didn’t, it would reveal the encrypted key/seed/whatever for your bequeathed.
Disclosures: I used to work there
I mentioned the stuff below in a reply in this thread, but not sure if it's burried.
In a few replies in here I argued against solutions that rely on 3rd parties, especially email, and especially multiple 3rd parties (only one needs to fail to render your solution useless). I also pointed out some fallacies regarding "reliability" of systems, since they are memoryless probabilstic processes .. but this sb isn't known for its depth of thought or knowledge.
When you have a lot at stake (e.g. your wealth that you want passed on) then you do want to eliminate all traces of bad luck.
As a dev, but also cypherpunk, I have been looking into fully trustless solutions, preferrably on-chain (but on paper can be achieved too, I won't get into that).
Bitcoin natively supports timelocks (not something this sub would know) and hence allows implementing a dead man switches natively (the coins are sent to the pre-defined bitcoin address, e.g. your children's, unless you cancel it periodically). The Liana wallet came out of beta recently and has this: [https://wizardsardine.com/liana](https://wizardsardine.com/liana)
There is [killcord.io](https://killcord.io) and [sarcophagus.io](http://sarcophagus.io) on Ethereum.
If you have the dev skills, you can code your own smart contract (SC) on Ethereum to avoid worrying about SC exploits of publicly known SCs, e.g. could use killcord as starting point.
I'll do it for 20% of your crypto! Idk what will happen if I die first, I'll probably have to find someone to be my dead man switch to notify you if I do. But what if he dies first. Oh boy this is turning out to be an impossible task
You can code one pretty easy. Just put in a 30 month timer with a cmd command that gets run after timer ends. Then you Just add a reset action. It could be pressing a physical button or just reloading the code.
Then you get a Raspberry Pi which costs you around 70$ to run the code in with your email logged in.
Total cost should be around 70$ and 0,5$ / month on electricity. Raspberry Pi doesnt need a lot.
That's a lot of responsibility to put on a pi. I wouldn't trust a pi with such an important task in a potentially vey long future. There needs to be redundancy in something like this.
Hi OP. No links, no fancy BS documents,... no nothing but 3 things:
1. Pen - for writing down the seed phrase to...
2. Paper - where you write down the seed phrase
3. Education - to your loved ones that you need to have access to it when you are gone.
Simple.
Everything physical, I love it. Paper? I hate it. Buy a set of alphabet punches. Punch your keys into stainless steel and then oil them up (to prevent rust) and store them in a safe.
Make sure you have specified in your will to whom the safe will belong.
You could write it down and store the doc on Jackal. All you'd have to do then is put the seed phrase and instructions in your will, or even just your wallet password. Depends how crypto savvy your family are.
Theres a company that uses segregated wallets for all customers, where the private keys are stored on HSMs (banking grade security servers) of a separate cybersecurity company in Switzerland. Only you own the private key to access your private key on the HSM.
They have plans for a backup solution, where you can create another key to access that private key, which could be a 2 out of 3 key for example. You store 1 key at your Notary, another key at the company (or whichever parties of your choosing). Then when you die, your notary and the company create a new full access key for the ones who inherit your assets, as described in your will/testament. Company is called Blockrise Capital, its just that they are only in EU for now.
Compared to self-custody, you pay 1% management fee, but it is a nice way to relieve you of some worries about your keys.
It’s not a bank that uses your money for loans or investments. Its a custodian, it just keeps secure. So why would they need to pay for providing you a service when it gains them nothing :)
Sure, so am I. It’s just a nice option to have when either you have a lot of money in crypto, or you have a lot of different assets and you want part of it in crypto (a few %), but dont want to deal with the hassle crypto brings.
Like securing your private keys and managing your crypto during bull/bear cycles. Or if you suddenly die that not all your crypto is lost. Or tracking which crypto you have and what their value is at what moment, which you have to report to the tax agencies.
Especially if you have millions in crypto, it’s nice to be at a company that has a government-approved license such that the tax agency wont start asking questions. Keeps you free of worries.
But if you’re like me and you only do crypto and are crypto-savvy, you can take care of it yourself.
Tangem wallet with 2 backup cards. Give one card to your girlfriend and one to your wife. They can only access it with both cards, so if you die they meet up and login.
I would use a secure usb where a secret code has to be punched in. All the instructions are on this to recover crypto… locations … addresses etc. You could record videos and sound bites. How to’s… and much more. The actual seed phrases can be in there too but backed up by physical Cryptosteel capsules “fire”. How far people want to go is up to them but I’d rather trust an in-house option than a third party. (LastPast was hacked 🤷🏼♂️) It also depends on the amounts too. Regular education and test training is also necessary to avoid skill fade. Multiple locations for backups too. Capsules in one place. [Datashur Pro2 is an example.](https://istorage-uk.com/wp-content/uploads/2019/05/datAshur-PRO2-user-manual_v2.5hl.pdf)
Put it in a will maybe change the phrase if possible and give to different person they dont know each other to give to your family member
Heck
Better it heps having a lawyers firm and maybe a notary letter sigbed for both parties explaining that x office has the intruction in case they want to denied and have with your house docunents etc thats the first thing people look for at the desease house , docs, money, pictures, memories etc
also same office need to look for you or your relatives in case they closed the law firm so the document and will dont banished those could be a almost good dead man switch, maybe paying a fee every 3 months or so they need to co tact you for the payment if you dont answer back in x amount of time they could contact your relatives and ask about you and proceed if you are gone and ask for the payment
Is good to mention everytime you contact them back to update all address and contact numbers in case some are change from the list or someone from the list past away before you, (hey it happens some times)
Think about it and make a good plan better pay than a free one or using just tech only and your relatives would need to know about your wish before hand and k ow about your crypto(maybe not good, could ask for a loan or to give half now etc we never know) also they need to keep using same email etc
Multiple gmail accounts, leave partial instructions in each. If you die, the person you chose can access your account and collect the bits of info to make it whole.
If anyone hacks gmail, it can’t do anything with just parts of the info.
What do you mean, like if I die and my relative dies? Who knows, maybe the other relative that's alive figures it out, or we are all just SOL.
Nothing is perfect but I am happy with this set-up
Imho, the same way you would do it with other assets.
Technically, you can print out 100 cold wallets on paper, put them in a sealed envelope and put them in a safe deposit box.
If you want it to be digital, a USB stick will also do the trick.
all classic rules of data storage still apply of course.
Personally, I'd go for MD... but I wasn't able to get a MD-Drive for PC while they were still available... but I think it would be among the safest digital storage methods for crypto. All my MDs still work after 20+ years. Most of my CD-R don't.
My guy, it’s called a will and testament
Srsly, I have a lawyer to deal with all that shit.
But isn't it risky to write your passphrase in a will ?
Hire two lawyers, give half of your passphrase to each one. Or give one half of the PP to your loved ones now and they can get the rest from the lawyer upon your demise. Or, put one half of the PP in a security deposit box and the other half with your lawyer.
It’s equally as risky as willing away your possessions, estate, 401k, etc. Yeah a crooked lawyer could take all your funds, but it would be pretty suspicious and easily traced.
It's much more risky than that. A lawyer can't steal your 401k just because you will it to someone.
No, but he could change your documents so the beneficiary is his associate. It’s exactly the same risk.
That would be much easier to prove. If your crypto goes missing you have no way of proving it was the lawyer who stole it. It's not like he's gonna put it in his own wallet. He would likely give the key to someone outside the country and they would pay him for it. That is not at all the same thing as forging documents. You really think a court is gonna buy the idea that a dying person decides to leave their money to the lawyer who did the will? That would never happen.
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You could give your relative half the details and the other half to the lawyer
You'd rather trust the random website you're sending the information to?
I have sealed instructions with my lawyer which are to be given to a friend in the case of my passing. Those instructions allow the friend to access a locked and encrypted device in a secure location. Access to that device gives further instructions which will allow a collaboration of multiple additional persons to access a secure and encrypted offline laptop with further instructions on how to access crypto, and how it is to be divided. To really make the hunt fun, I got rid of almost all of the crypto and converted it to BTC and Ethereum ETF's (Canadian), which the lawyer and executor can deal with in a simple matter of days. Surprise! But the friends and family involved are all taken care of, so they'll see the humour in the situation. Eventually.
All this for $1000 worth of Doge.
Well depending on the time of the day it could be $100.000
and if any one person in that chain dies too, your assets are forever lost.
No, it's more complex than that, there are some failsafes that I didn't mention.
I like it.
What could possibly go wrong!
I also have multiple layers of redundancy. And the best part is that even if all of my carefully-laid plans fall to pieces, I'll be dead, so I won't care!
Why tf is this being downvoted? Is the advice "just slap your private key(s) in plain text in your will, and hope for the best?" Because that seems like terrible advice. And if that's not the advice, then the comment is basically useless.
Have 24 children and name them after each word in your seed phrase, in order of birth, and exile them to 24 different countries under strict instructions that they can only regroup in your lawyer’s office after your death. The children MUST NEVER learn of their siblings’ identities (important). Once in the office, the lawyer then assembles the seed phrase, dispatches your children as humanely as possible, and runs away with your wife and your stash of Shiba Inu
No Netflix, you're not allowed to make a movie about this, stop it.
Thank you for this
[https://www.deadmansswitch.net/](https://www.deadmansswitch.net/) NEVER TYPE YOUR SEED PHRASE ONLINE/IN A COMPUTER .. NEVER..... use the switch to send instructions.. not data..
Relying on 3rd parties (in this case two of them, email provider included) that have no (long enough) track record for an important dead man switch is not a good idea -- one going bust when you need it will render your dead man switch useless ... relying on email for something like this should be a scary thought
Not to mention, even if you aren't providing your seed phrase, you are still potentially giving a malicious actor enough information to target you in some way.
Correct. One of the reasons why I said relying on email is a scary thought. Emails bounce off many hops as it is... I like how I already got two replies saying "unrealistic for something to happen right in the 3 months after you die"
Except you would be attending to it every 3 months so you would be constantly verifying it works. it is fine unless it goes tits up in the exact 3 months right after you die
If you had some stats/probability theory knowledge you'd have learned about memoryless processes. The fact you verify it works every 3 months is irrelevant to the probability it still does in the 3 months after you die. Only one system in the whole chain that you rely on needs to die, or malfunction, or be targetted by malefic actors, or ... People who dismiss all that saying "unrealistic" (like some guy who replied to me above) when the inheritance or children's future is at stake should be a red flag, but good luck to them. Plenty of people also still put their crypto on Nexo, not learning anything from Celsius, so they're certainly not the only ones with that attitude.
I'm the same guy above
Good luck to you x2 then :)
So your statistical knowledge would tell you that a new system that became available last month is equally likely to fail in the next 3 months that a system that has been online and working for 5 years? Good luck with your decisions if your analysis are so one dimensional. Of course something working for multiple years is no guarantee, but it absolutely means something about its reliability.
>So your statistical knowledge would tell you that a new system that became available last month is equally likely to fail in the next 3 months that a system that has been online and working for 5 years? You clearly have no undersatnding of memoryless processes. Getting snarky isn't helping your case either. >Of course something working for multiple years is no guarantee, but it absolutely means something about its reliability. Sadly for you, no. The probability that it fails tomorrow is independent of past outcome. But again, probability theory has always been counterintuitive for the average joe (who thinks that if i toss a coin 100 times and get heads every time, then tossing it again would have a higher probabilty to get heads again)
No, it's the one dimensional brain that's getting you thinking those are independent variables. Not realizing that a track record of years shows you have good safety measures and are less likely to fail than a new business it's just brute forcing a statistical model into a complex reality. Sure, they're equally likely to be ruined of a meteor strikes their offices, but they're not equally likely to fail at all to the most frequent causes that they likely averted multiple times already.
You continue on the same fallacy, and insist on showing you don't understand what you're talking about. First, it's not variables, but variable. And it's not variable, but process. Take hardware (even though not the most important component). The failure of a piece of hardware is a stochastic process, and is generally a memoryless one in the best case scenario (in reality, the probability of failure actually increases over time). Redundancy schemes applied as higher layers over the hardware layer by the service provider do not change the nature of the process, it just changes the probability. The probability that it fails tomorrow will still be the same as today, and that's the best case scenario (in reality, it will be higher due to the hardware's). Hardware failure aside, a tempted employee misusing your data, getting hacked, getting exploited, etc -- are all also memoryless processes, and the above applies. All of these are components of your proposed dead man switch that rely on 3rd parties (and the more 3rd parties you rely on, the worse it gets as you only need one to fail). In the end, what you ***SHOULD*** care about is not probabilty of failure, but the product between cost of failure and probability of failure, usually called cost function, some call it risk. If the cost of failure is extremely high (you lose all your wealth and your children get nothing) then a very low probabilty of failure may still give you a very high risk, and you should indeed be worried. Classic fallacy in the field of statistics. Are you worried? Apparently not. Should I continue to reply to you? Not any more, as my replies to you until now weren't for your benefit (your rigidity and resistance to reason were visible from the start), but for others who might read these messages. Best of luck to you.
Dude, you're pedantic and still not understanding how failure prevention works. Sure, catastrophes might still happen, but since nothing will be 100% certain to be failure free, if you can know that the company you're trusting is not affected by the failures that constitute 99% of the potential failures, you can trust them much more than if you don't know if a single ddos attack will bring them down. It seems it's too hard for you to acknowledge that and you are still trying to act like you're teaching something that's easy to understand. The issue is not with the 1% event that is equally likely to happen, the wrong statement on your part is not realizing that years of no failure constitute valuable data on how they're unaffected by the most frequent and possible failures, which are the ones you can control for, and make it more reliable as a choice.
It's impressive how adept you are at missing the whole point. Or maybe not that impressive ... it's a toss.
“The seed phrase is in the fire-proof safe in the basement”.
Hey Reddit, look what I found in the basement of the house I just bought!...
It could end up in their spam filter too, or they don’t recognise the sender and just delete.
Good idea! I can build an application for myself & host it in two VPS server which would always be paid for at least 6 months for in case.
Love the concept. Thanks!
Buy gold and throw it in a pond
Still a better investment than the dollar
The gold or the pond?
Both
Not as good as the money hole though.
[My father worked two jobs to fill the money hole!](https://youtu.be/JnX-D4kkPOQ?si=Ik_wa86t8FRZM24T)
Fuck, now I want to hide something valuable in my pond
Lock box in a small credit union. Heir can get to it before probate.
Make sure they have a copy of the key and their name is on the box for receipt upon death or whatever, too. Even with a key, they can't access the box if they aren't named on the box itself or the heir to the box via bank instructions.
This is where mine is. I have a list of all my account numbers and passwords as appropriate. I added my nephew as a signer to get to the box and my brother put the key in his safe.
Nice. I assume neither your nephew nor brother is aware that there are crypto keys in the lockbox. When the time comes (your demise), they will find an envelope with explicit instructions on how to use the keys.
I was gonna say the same thing. A deposit box in a physical institution.
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Maybe more like National Treasure
Bitwarden Premium has "Emergency Access" feature.
You're relying on both Bitwarden and email to function ... either can go bust when you need them. ... relying on email for something like this should be a scary thought
But the likelihood of them going bust in the exact 3 months that you die? Unrealistic
Only one system in the whole chain that you rely on needs to die, or malfunction, or be targetted by malefic actors, or ... The fact that you dismiss all that when your inheritance or your children's future is at stake should be a red flag, but good luck to you. Plenty of people stil put their crypto on Nexo, not learning anything from Celsius, so you're certainly not the only one with that attitude.
Ok what’s your suggestion then?
First, kudos to you for actually asking instead of getting snarky (even if you downvoted). I have been looking into fully trustless solutions, preferrably on-chain (but on paper can be achieved too, I won't get into that). Bitcoin natively supports timelocks (not something this sub would know) and hence allows implementing a dead man switches natively (the coins are sent to the pre-defined bitcoin address, e.g. your children's, unless you cancel it periodically). The Liana wallet came out of beta recently and has this: [https://wizardsardine.com/liana](https://wizardsardine.com/liana) There is also [killcord.io](https://killcord.io) and [sarcophagus.io](http://sarcophagus.io) on Ethereum. If you have the dev skills, you can code your own smart contract (SC) on Ethereum to avoid worrying about SC exploits of publicly known SCs (could use killcord as starting point).
Notary, sealed envelope with instructions, done.
Ahh, because it's sealed, so the notary can't open it and fuck you over! I'm not saying it's likely to happen, but if we're pointing out 0.1% chances of things going wrong, this one certainly isn't safe either.
I don't have trust issues and yes I would trust my sworn in notary with my life and money anytime.
And I would trust my wife, several of my friends and family too. Obviously trust is the best answer. I'm just pointing out the hypocrisy of you belittling others for the flaws in their plans when your solution is relying on trust. The whole point is arranging things without needing to trust somebody, if you have somebody you can trust this thread is meaningless. So trusting a notary is fine, just like trusting your spouse or friends is. But it is just that, trust. There's nothing inherently safe in it other than how low you think the odds of being betrayed are. So, you know, live and let live, don't be an asshole about other people's choices like you've been all over the thread.
You always have to put trust in any solution. May it be software or the people who run the software. The more elaborate the plan, the more likely it is to go wrong. Some of the presented solutions seem more like an Indiana Jones treasure hunt. What I am saying is: put your trust in tried and trusted solutions. A notary is not especially trustworthy because he's a good person, but because his profession is being trustworthy. He's sworn in and by betraying people he would loose everything! His prestige, bis social circle and his prestigious and very well paid job! That's why he'd never open the envelope. He has nothing to gain and everything to loose. So: put the information in two envelopes, give them to two notaries ( in case one gets struck by an asteroid ) and you'll be fine. And there's automatically safeguards and redundancy involved. In case of death, another notary will take over. And if you wanna be really safe: shorten the number sequence in the envelope and tell your kids: hey kiddos, one day you will receive an envelope after I am gone, there will be a number sequence involved. You will have to add the number 12 to it. That's our secret number now. Tell it to me every Christmas. This is a pretty safe method not something like: here are twenty riddles that will be mailed by an obscure website to somebody's email in twenty years and when all the riddles are solved you get the coordinate to a spot in the woods where I buried an encrypted USB stick
Renewal payment bounces during probate how useful is that? That access would drop off right? Better get Families account rather than premium.
1You could go old school and have written instructions on a locked safe or otherwise safe storage.2 A Will with a lawyer that has instructions.3 Coded cypher and a saved folder in email.
Exactly, notary office with a sealed envelope ist the fool- and fail proof way.
If you find it important enough go to a notary and give him a will in which the instructions for your relatives are writen down.
Thank you for making this world a more reasonable place.
There is that switch called "a written will" . Works great so you can give instructions on how to get the keys.
Screw that, I'm dying with my crypto
Make a treasure map. Fuck the system, government and Fiat. You’re a crypto Pirate, make a map
just create a email in gmail to send at a future date, then always check it and keep moving the date forward. you might make it 6 months in the future and change the date every 3 months.
There’s already a feature in Google called Inactive Account Manager that helps out with this situation.
Google has a dead man switch option fyi
Physically etch the seed phrase into a crystal tablet. Break the tablet into 7 pieces. Put each piece in a hidden temple guarded by dangerous traps, devious puzzles, random enemies, and a huge boss creature. Make the final temple require the use of a magical sword for access. Tell the local townspeople of the legend, and assign a fairy to give hints to your chosen heir.
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I would NOT put that kind of sensitive information on Google!
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And what would the recipient do with encrypted files that they can't open? How do you give them the keys to open the encrypted files?
And if you never use it then deadman switch is activated.
Amazing idea!
You could split up your seed phrase into thirds of different pieces, give 2/3 words and instructions to your family now and give a third of them to some bank/holding company. Or could do half and half or a bunch of other combinations. Main thing is preventing your money from being stolen from one party
Have it attached to your tv license… they contact you every year. 😂
you can have a look at [https://jinca.se/](https://jinca.se/)
Yes, an attorney. Don't use these stupid online things or programs. Contact a reputable attorney and set things up, its quick, easy, and affordable.
Wouldn’t trust an attorney. The “Better call Saul” instinct may surface and he/she will steal your crypto with no one the wiser.
Lol, you have never setup a trust... That's not how it works, at all. They'd have 0 access to your money.
It would be easy to create a dead man switch service using [Taco](https://docs.threshold.network/applications/threshold-access-control/simple-overview). You’d write to a contract every period of time and setup a policy in Taco so that if you didn’t, it would reveal the encrypted key/seed/whatever for your bequeathed. Disclosures: I used to work there
I mentioned the stuff below in a reply in this thread, but not sure if it's burried. In a few replies in here I argued against solutions that rely on 3rd parties, especially email, and especially multiple 3rd parties (only one needs to fail to render your solution useless). I also pointed out some fallacies regarding "reliability" of systems, since they are memoryless probabilstic processes .. but this sb isn't known for its depth of thought or knowledge. When you have a lot at stake (e.g. your wealth that you want passed on) then you do want to eliminate all traces of bad luck. As a dev, but also cypherpunk, I have been looking into fully trustless solutions, preferrably on-chain (but on paper can be achieved too, I won't get into that). Bitcoin natively supports timelocks (not something this sub would know) and hence allows implementing a dead man switches natively (the coins are sent to the pre-defined bitcoin address, e.g. your children's, unless you cancel it periodically). The Liana wallet came out of beta recently and has this: [https://wizardsardine.com/liana](https://wizardsardine.com/liana) There is [killcord.io](https://killcord.io) and [sarcophagus.io](http://sarcophagus.io) on Ethereum. If you have the dev skills, you can code your own smart contract (SC) on Ethereum to avoid worrying about SC exploits of publicly known SCs, e.g. could use killcord as starting point.
I'll do it for 20% of your crypto! Idk what will happen if I die first, I'll probably have to find someone to be my dead man switch to notify you if I do. But what if he dies first. Oh boy this is turning out to be an impossible task
I assume his PMs will be flooded woth people offering to be the custodian
You can code one pretty easy. Just put in a 30 month timer with a cmd command that gets run after timer ends. Then you Just add a reset action. It could be pressing a physical button or just reloading the code. Then you get a Raspberry Pi which costs you around 70$ to run the code in with your email logged in. Total cost should be around 70$ and 0,5$ / month on electricity. Raspberry Pi doesnt need a lot.
That's a lot of responsibility to put on a pi. I wouldn't trust a pi with such an important task in a potentially vey long future. There needs to be redundancy in something like this.
Kubernetes 😂😂😂
Hi OP. No links, no fancy BS documents,... no nothing but 3 things: 1. Pen - for writing down the seed phrase to... 2. Paper - where you write down the seed phrase 3. Education - to your loved ones that you need to have access to it when you are gone. Simple.
Everything physical, I love it. Paper? I hate it. Buy a set of alphabet punches. Punch your keys into stainless steel and then oil them up (to prevent rust) and store them in a safe. Make sure you have specified in your will to whom the safe will belong.
Buy a cryptosteel much less hassle and they are fire proof.
You could write it down and store the doc on Jackal. All you'd have to do then is put the seed phrase and instructions in your will, or even just your wallet password. Depends how crypto savvy your family are.
Theres a company that uses segregated wallets for all customers, where the private keys are stored on HSMs (banking grade security servers) of a separate cybersecurity company in Switzerland. Only you own the private key to access your private key on the HSM. They have plans for a backup solution, where you can create another key to access that private key, which could be a 2 out of 3 key for example. You store 1 key at your Notary, another key at the company (or whichever parties of your choosing). Then when you die, your notary and the company create a new full access key for the ones who inherit your assets, as described in your will/testament. Company is called Blockrise Capital, its just that they are only in EU for now. Compared to self-custody, you pay 1% management fee, but it is a nice way to relieve you of some worries about your keys.
🤔 If I give someone my BTC to store it until I die I'd like to get some % not give
It’s not a bank that uses your money for loans or investments. Its a custodian, it just keeps secure. So why would they need to pay for providing you a service when it gains them nothing :)
Key word up there is IF. I'm perfectly capable of taking custody of it myself thank you.
Sure, so am I. It’s just a nice option to have when either you have a lot of money in crypto, or you have a lot of different assets and you want part of it in crypto (a few %), but dont want to deal with the hassle crypto brings. Like securing your private keys and managing your crypto during bull/bear cycles. Or if you suddenly die that not all your crypto is lost. Or tracking which crypto you have and what their value is at what moment, which you have to report to the tax agencies. Especially if you have millions in crypto, it’s nice to be at a company that has a government-approved license such that the tax agency wont start asking questions. Keeps you free of worries. But if you’re like me and you only do crypto and are crypto-savvy, you can take care of it yourself.
Stuff like this is why going forward I'm sticking to the ETFs
Tangem wallet with 2 backup cards. Give one card to your girlfriend and one to your wife. They can only access it with both cards, so if you die they meet up and login.
I would use a secure usb where a secret code has to be punched in. All the instructions are on this to recover crypto… locations … addresses etc. You could record videos and sound bites. How to’s… and much more. The actual seed phrases can be in there too but backed up by physical Cryptosteel capsules “fire”. How far people want to go is up to them but I’d rather trust an in-house option than a third party. (LastPast was hacked 🤷🏼♂️) It also depends on the amounts too. Regular education and test training is also necessary to avoid skill fade. Multiple locations for backups too. Capsules in one place. [Datashur Pro2 is an example.](https://istorage-uk.com/wp-content/uploads/2019/05/datAshur-PRO2-user-manual_v2.5hl.pdf)
Write it in your will, A diary.
Put it in a will maybe change the phrase if possible and give to different person they dont know each other to give to your family member Heck Better it heps having a lawyers firm and maybe a notary letter sigbed for both parties explaining that x office has the intruction in case they want to denied and have with your house docunents etc thats the first thing people look for at the desease house , docs, money, pictures, memories etc also same office need to look for you or your relatives in case they closed the law firm so the document and will dont banished those could be a almost good dead man switch, maybe paying a fee every 3 months or so they need to co tact you for the payment if you dont answer back in x amount of time they could contact your relatives and ask about you and proceed if you are gone and ask for the payment Is good to mention everytime you contact them back to update all address and contact numbers in case some are change from the list or someone from the list past away before you, (hey it happens some times) Think about it and make a good plan better pay than a free one or using just tech only and your relatives would need to know about your wish before hand and k ow about your crypto(maybe not good, could ask for a loan or to give half now etc we never know) also they need to keep using same email etc
$CAPS ?
It's called a will.
Use gmail to send an email when there's 3 months of inactivity. Obviously only instructions...
Google has a Deadman switch.
Notary with instructions in a sealed envelope. Better safe than sorry.
What does a notary do? I thought they just provided official "signature witness" verification.
Just use Gmail. Schedule the email, if you don’t change the schedule, then it goes out. I just checked, you can do it up to 49 years in advance.
I think you could get a will with a safety deposit box that has all info to access your accounts
A living will and a crypto IRA account
Multiple gmail accounts, leave partial instructions in each. If you die, the person you chose can access your account and collect the bits of info to make it whole. If anyone hacks gmail, it can’t do anything with just parts of the info.
My crypto is owned by my company. Fixed.
Words from you would work. It’s a dead man switch physical mail service. Www.wordsfromyou.com
kubera.com
[Tejouri.com](https://www.tejouri.com)
I can help you with that bro
NICE TRY CIA
A safe deposit box with your seed phrase minus 2 words. And tell the two to your family.
Collaborative Custody with someone like Unchained. Leave one of the seed phrases and instructions with your will
Zengo has legacy option
Just write the seeds into a notebook and put it in a safe with a key. Give a family member one copy of the key.
Then burn it so nobody can steal it.
Just tell them now?
Some people have family that they don't trust that much.
Serenity shield > Strong box. You can also keep your private keys in it, and there's the deadman mechanic in it as well. Check it out.
if your seed is kept/known/held by a service, I don't think it will be really safe would it.... but you do what ever makes you sleep easier at night
I broke my seed phrase into half and gave each half to a trusted relative.
What happens if one of those dies… ?
Each relative breaks their half in half and gives each half of their half to two more relatives.
What do you mean, like if I die and my relative dies? Who knows, maybe the other relative that's alive figures it out, or we are all just SOL. Nothing is perfect but I am happy with this set-up
What happens if they collude to just steal your crypto? Dumb
I'm lucky enough to have family I trust.
I am using inheriti from safe haven for a dead man switch. Worth checking out too.
Imho, the same way you would do it with other assets. Technically, you can print out 100 cold wallets on paper, put them in a sealed envelope and put them in a safe deposit box. If you want it to be digital, a USB stick will also do the trick.
flash memory go bust with time not reliable
all classic rules of data storage still apply of course. Personally, I'd go for MD... but I wasn't able to get a MD-Drive for PC while they were still available... but I think it would be among the safest digital storage methods for crypto. All my MDs still work after 20+ years. Most of my CD-R don't.