Re: Are You Doing This?

I want to ask all of you, do you share or give very private things (private key, passphrase, password and else) of Bitcoin to your family? I ask like this because I think if something bad happens to us (I personally hope it doesn't happen), it would be better if we pass down all the things from bitcoin that we have to our families. For example, when we have an accident that makes us comatose state (I hope it won't happen) at the hospital and we need medical expenses, it would be better if our wife or children can take money from the bitcoin that we have to use as our medical expenses.

I personally bequeath all my bitcoin knowledge to my family. I told them my bitcoin assets, how I made money from bitcoin, and also told them how to access them. All of this I did so that all of my bitcoin assets could be useful for my family. What about you guys, do you guys do the same with me?

If you want give your private key or password to anyone in your family it's alright choose the people you really trust so your assets will be safe what ever happens. And I think if you give that to trusted person make it sure they know how to use it. Nothing is wrong if you give to one your family member what your private key like you said it will be helpful to them what ever happens to you in the future.

It is very difficult to transfer a private key even to a family member. In this case, there is no 100% confidence that the money will not disappear from the account. Here's what I don't like about cryptocurrency, that only 1 person should own a private key.

Private key is the most important thing if you own a crypto currency. If you share it with someone or even with your life partner, there is every chance that you might have a bad day with him/her and he /she may misuse your funds. It is very difficult to completely trust anyone and then share the key with your loved one.

If it is someone from your family or your loved ones it shouldn't matter.
Thinking something like they misused your fund will only show that you do not trust them.

But its everyone's decision whether they share any information with anyone or not, if not sharing it to someone close to you will secure your funds then its fine.

My wife knows what are my private keys too, passwords in email, social media, my laptop, I don't need to hide anything to my wife and I know she will not do anything with our funds without knowledge. It's just a matter of Trust and communication on how to use your fund wisely.