Gave you some more Sats to keep stacking! I think one thing that hangs me up the most is estate planning. How to properly set up a contingency plan should I pass unexpectedly. How do I enable/educate those left behind to access my coins in a way that doesn't expose me to risk while I am alive. I have my recovery phrase and hardware wallets set up in a secure fashion (I believe, won't get into it). But for someone else to be able to access it when I am gone is another thing. Far fetched, but it would be interesting to educate your family on how to access/recover funds, then set up a service that upon a death notice (say an obituary) mails or emails an encrypted message like a scavenger hunt to find the phrase (important that the phrase itself wouldn't be in the message just the clues on how to find it, and you'd need a decoder to understand). All the family would receive is an encrypted message and you can give them the key to unscramble the clues while you are alive. Only thought of this in the past 20 seconds, have you given it any thoughts on how to prepare?
Mini scripts in Bitcoin will solve it. You will be able to programe your coins, for example, move to my son address IF I have not moved any SATS for X time.
Now days, you can also use Block time, but this involve blocking your funds for X period, neither you can't access your funds.
This video could be a good start:
reply
I have three adult sons. I trust them. I told them where my seed is hidden.
reply
Thats wonderful, but do they trust each other? I am just messing around. There still needs to be some solution for estate planning. People taking their sats to the grave is not good long term for Bitcoin. Sure it makes all other sats more valuable, but there may come a tipping point where that becomes more detrimental than beneficial. I still think estate planning for Bitcoin is an area that needs improvement.
reply
Thanks! I am still learning about how to best handle estate planning. I don't have advice there but there are plenty of people that do. My current approach is teach my family how to use the tools. I realize that isn't possible for everyone. Curious how other people are handling this. I've heard a lot of advice.
reply
Yes true. I found this course very interesting and helped me a lot: https://aantonop.com/workshops/crypto-inheritance-planning/
I think starting with the most simple solution first is important. Write everything down in simple and plain terms without very little jargon so that your spouse can access your bitcoin. Also adding links to people they can use for help. E.g. BTC Sessions, Ministry of Nodes and more can be added. They can contact them for help so they don't make any mistakes.
reply