Ninjastic
PostEdited versionsQuotes to this post
Post
Topic
Board Bitcoin Discussion
Re: How many coins will be lost due to people dying?
by
13Charlie
on 08/03/2013, 04:41:27 UTC
Quote from: ShadowOfHarbringer on March 06, 2013, 11:25:09 PM
Quote from: 13Charlie on March 06, 2013, 09:06:15 PM
Quote from: Amitabh S on March 06, 2013, 08:45:11 PM
How do you plan to make them (un) recoverable?

Armory has (or will have soon) an awesome feature built into the paper backup system that allows an M of N recovery. Fully customize-able.
I plan to print 10 sheets of paper that each have a piece of the puzzle to recover my cold storage wallet. It will require 7 pieces of the original 10 to recover the wallet.
6 of them get distributed to family and friends with instructions to hold onto them until I die.
4 of them are to be in the will itself, this way, the other 6 can never do anything before I actually die (not that I couldn't trust those people).

Seems pretty complicated.

Wouldn't it be easier to create a RAR archive containing the wallet with enough repair/recovery data, and give only part of the data to your family ?
You are correct, this is more complicated than necessary (for most). But for me, it will provide a little more piece of mind. As they say, to each his own, and the OP asked about how we planned for this event. This is how I am planning.