Subnostr

nobody 1y ago

Has anyone solved the problem of secure inheritance planning for Bitcoin for the multitude of hodlers whose heirs don’t possess the technical knowledge (or the motivation to acquire it) that would permit them to initiate on chain transactions using the PINS, hardware and seed plates that get left behind? I see a lot of coins disappearing into the void in the next 3 decades. And a demand for honest consultants that won’t rug people completely or siphon funds to a degree when they’re asked to help liquidate a late hodler’s stack, or at least a portion of it for final expenses. Every time I think about my eventual end, I picture that scene from 2001 a Space Odyssey where the apes are gathered around the monolith. That’ll be my family looking at my PC, phone, hardware wallets, SD card readers and seed plates when I die.

Much in the same way you can lead a horse to water but not make it drink, the motivation to learn the basics of interacting with Bitcoin must come from within. It cannot be imposed with any hope of it being retained.

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Discussion

OT 1y ago

There are companies that charge high fees that you could use.

If you want to do it yourself its going to be quite complex and time consuming. You need to figure out a way to give your heirs access yo your keys when you pass, but unable to while you're alive.

OT 1y ago

Here's a simple way:

2/2 multisig

- One key held on a HWW with family member A

- One key held on a HWW with family member B

- Lawyer/Trust holds the PIN for HWW A+B and also the xpub (descriptor) to link everything up.

nobody 1y ago

Thanks for your reply. Yes this is the simplest way I know of, but I guess heirs are just going to have to do some reading and hopefully resist the temptation of trusting some random coiner to help them. A foresee a lot of people in the coming years sacrificing security and sharing keys with the wrong people rather than undergoing the discomfort of learning something about how exchanges even work and how to process and broadcast partially signed transactions without making an error and sending sats into the void.

OT 1y ago

I think there will be a lot of sats lost too. As for our heirs, if its really worth a lot, that should be enough of a reason to get them to learn.