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Can someone create a way to give away my bitcoin if I get nuked
337 sats \ 12 comments \ @satgoob 20h bitcoin
This was more pertinent before the Iran ceasefire, but I got caught up in my work, so I didn’t post this when it was relevant. Was originally conceived of as a shitpost, but now I’m curious and have insomnia:
Per the title, let’s say I’m at risk of dying (doesn’t have to be nuked) and would want to pass on my bitcoin if I die but don’t want to give away my bitcoin if I survive. Is there a way I could keep some bitcoin in escrow to be released to someone else if I don’t perform some action within a given timeframe (ie a month from now I need to send a message or press a button to prove I’m alive)?
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701 sats \ 1 reply \ @Wizardsardine 18h
Liana Wallet fixes this.
You create a wallet with two keys. One key is just like any other bitcoin key. You can use it to spend whenever you like.
The other key is timelocked and only works if you don't use your first key for some pre-specified length of time.
This is enforced by Bitcoin script on-chain, no third parties, no proprietary stuff. You can read more here: https://wizardsardine.com/blog/what-is-a-bitcoin-recovery-key/
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0 sats \ 0 replies \ @OT 14h
This.
For now this is your best option.
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53 sats \ 1 reply \ @Silent_Hodler 20h
Can't you just have two separate lawyers with one having 24 words and the next one having the seedphrase (both in tamperproof sealed envelopes) and sign some docs with both (but in a way they don't know about that) to give it to whomever you want on your confirmed death?
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37 sats \ 0 replies \ @satgoob OP 20h
Yeah probably; however that does require lots of cost and disclosing any non KYC Btc
Sounds cool pressing a button in a bunker to automate it
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51 sats \ 0 replies \ @030e0dca83 16h
At first you have to resolve one problem: You'd like to share Bitcoin with your family but not ready to. In this case maybe better, as @DarthCoin says: They won't get anything after my death if they don't want to study it today.
Long time ago here has been posted this tutor - #326762
Orange pill people you want to share Bitcoin with
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134 sats \ 0 replies \ @supratic 16h
dead man switch
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530 sats \ 0 replies \ @Coinsreporter 19h
Have you heard of timelocked transactions? I'm sure you've.
Create a new wallet/wallets, give the seed/seeds to whoever you want to send your Bitcoin after you die.
Then sign timelocked transaction/s for those wallets. Let's say you sign transaction/s with 1 year timelock, in case you don't die in that time frame, update these transaction/s before the time is over.
More here https://wizardsardine.com/blog/the-state-of-bitcoin-inheritance-planning/
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5 sats \ 0 replies \ @Bitcoiner1 14h
Liana wallet and Rewind Bitcoin wallet are good solutions.
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0 sats \ 0 replies \ @fiatbad 9h
You won't care about what happens to it after you're dead.
I know that's not the answer you were looking for, but it is a solution to the problem, nonetheless.
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0 sats \ 0 replies \ @d680ecaa8e 15h
Escrow services could be great way for this, means for some sites escrow is not locked until a confirmation, I do not mean binance or okx, may be paxful could be useful for that.
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0 sats \ 0 replies \ @south_korea_ln 17h
Bitkey (https://bitkey.world/) offers something like that, but there are some debatable choices they made (no screen on the hardware wallet, no seed phrase) that have rendered this wallet not the favorite of all Bitcoiners. I think there are many advantages to this wallet, so decide for yourself.
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0 sats \ 0 replies \ @megaptera 20h
You can create this by yourself using a dead men's switch #326762
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