I am in mid 20's and holding and accumulating as much BTC as I can. I try to save a small amount of bitcoins every month so that I can do something with it when I retire.
But what if something unfortunate happens to me. What should I do 'now' so that the coins can be used for a good purpose in the future by the right person.
I know I can hide the instructions to the private key for somebody to take it in the future. But my question is whom should I give it to ?
I do not want to give it to my relatives or children since I want them to earn on their own and never depend on others money.
I know I can donate it to charity but what's the guarantee that the money will be gone into good hands and will be used for the right purpose ?
Are there any options that you guys think of ? Have you guys thought about such a scenario ?
It is strange that you don't want to give any of your coins to your relatives on the event of your death. Depending on others money is not good, but sometimes emergencies can occur and people will be left with very few choices. I myself lost my cousin sister to a medical condition around two decades ago, as her family was unable to afford the expenses. So I know how hard pressed people can get. But you are still in 20s and as you grow older your decisions will also change.
Another important thing is regarding the wallet backup. In case something happens to you all of a sudden, and if you haven't stored the wallet backup anywhere, then all the coins will be lost. It is a very tricky situation. Even I haven't created a backup for my wallet outside the online space. I don't want to trust anyone (not even my family members) and therefore it is risky for me to store the backup in hard copy format. But then, if something happens to me then those coins will be lost forever.