Inheritance is live
https://bitkey.build/inheritance-is-live-heres-how-it-works/?ref=bitkey-newsletter
Discussion
Do my beneficiaries need a bitkey for me to set up the inheritance process? Or only to accept the funds after the 6month window
Maybe it’s because Bitcoin is too young. Inheritance is a very far-off concept. 😂
Is there a more technical explanation or diagram available? This seems really cool. The 6 month delay concept is genius
Good stuff
Cheers to sleeping more soundly!
Is it subject to inheritance tax? Will the government know about it basically
So you rely on Bitkey server? What happens when Bitkey goes offline? Where is the descriptor saved?
nostr:npub1yk3pjtw0xnpmuvnf3z6un72z42t83xye69d4jsfxq2z54pera85qcwyya6 friendly reminder, as I could not find details on the landing page 🙏
The inheritance plan relies on the Block/Bitkey server to fulfill claims. If we were to go out of business, we'd aim to give 6 months' notice so customers can sweep their bitcoin. After that, they’d need new arrangements to manage inheritance. If you’re using Bitkey and see us go out of business, you could move your funds to another wallet.
If you're concerned about Block going out of business before your beneficiary completes a claim, consider setting up a backup method. You can add their fingerprint to your Bitkey and share a copy of your Emergency Access Kit to ensure they have access to your funds if needed.
nostr:nprofile1qqsgydql3q4ka27d9wnlrmus4tvkrnc8ftc4h8h5fgyln54gl0a7dgstw3r3l great feature. Would like to see an option to set the “delay period”. 6 months is extensive. The ability to choose 3-6 months seems more reasonable