Hey #[1] I heard you were part of something called Bitcoin Keeper. I was wondering if we could talk about Bitcoin inheritance?
Discussion
👀what’s bitcoin keeper
#[4] sent this to me
https://twitter.com/bitcoinkeeper_/status/1625832708583870470?s=46&t=SF7iDUa2tcIQ89GWESViTg
Sweet, I need to look into this. I work in trust and estate planning and have been wondering what the best thing to do for bitcoin inheritance is on the technical side.
I created a program called BTCapsule (hence my name 😂) and it is a Python program that runs on Android phones to timelock your Bitcoin.
It is different than other timelocking services though, because it lets the original holder redeem their BTC at anytime. So it lets you take your inheritance into your own hands, without trusting a third-party. If you’re interested, you can read about it here:
Woah that sounds awesome will definitely read about it
BTCapsule can also be used with a third-party, so if you’re into estate and planning, I was thinking a third-party could hold the receiver’s wallet for an heir so that they don’t need to be responsible for it. The cool thing is, you wouldn’t be able to redeem the script, so nobody would actually have to trust you.
The heir could also hold a copy of the wallet, and the copy you hold could be a backup in case they lose it. I think this is better than a multisig situation, because the heir doesn’t have to trust you with keeping the other key safe, or refusing them access to it. If Bitcoin ever becomes illegal, then it’s good to have a secret option that the heir is solely responsible for.
Anyway, if you have any questions feel free to ask. I would love to know what you think about it.