I'm sure glad my late father didn't invest in Bitcoin.

[MineralMan]

It's difficult enough to gain access to bank accounts and stock holdings as the trustee and executor of his estate. I can't imagine trying to get at a Bitcoin account. That could be impossible in many cases. I do have to prove who I am and that I am, indeed, the trustee and executor, and I have to supply certified death certificates and various other documents. However, I do not have to have an encrypted code to access those accounts.

Think about that if you are holding Bitcoin. It could all just disappear into the void and be forever inaccessible to your heirs if you die without sharing the right information with them or make it easy for them to find.

Just saying...

[Wellstone ruled]

1. Folks need to understand just

how almost impossible to redeem your coins or fraction of Coins if you lose your password or do not copy your password exactly. Son in Law learned the hard way on the latter.

It has been almost a year,and he has not been able to retrieve is coins.

[LeftInTX]

10. That $ucks!

Just another reason to avoid investing in bitcoin

I wanted to purchase something overseas and they wanted bitcoins..Forget that.......

[Wellstone ruled]

13. Smart move.

[LiberalFighter]

2. Good point.

And what about it not being legal tender and backed by the federal reserve?

[Demsrule86]

3. Can you imagine that Miami wants to pay employees with Bitcoin? We should make the dollar

the official currency period.

[jmowreader]

11. That sounds highly unconstitutional to me

Article 1, Section 10 of the Constitution:

No State shall enter into any Treaty, Alliance, or Confederation; grant Letters of Marque and Reprisal; coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debts; pass any Bill of Attainder, ex post facto Law, or Law impairing the Obligation of Contracts, or grant any Title of Nobility.

"Gold and silver coin" was later interpreted by House Joint Resolution 192 of the year 1933 to mean "legal tender of the United States." Since Bitcoins are neither "gold and silver coin" nor "legal tender of the United States," and in fact are one step up from counterfeit currency, a division of the State of Florida can't legally use them to pay their employees.

[rawtribe]

4. My crypto wallet

pass prase is in my will. It goes to my nephew.

Simple.

[Cosmocat]

5. Yep

Its going to support my retirevent then be a legacy I pass to my daughters to pay for vacations, help put their children through school, etc.

[JustABozoOnThisBus]

12. If the pass phrase is in your will, isn't it a public record at your county clerk's office?

Not that anyone would look there, but ...

[central scrutinizer]

6. I've written a detailed listing

Of all my accounts. Addresses, account numbers, phone numbers, passwords. Where to find the fireproof box with my will, deeds and titles, power of attorney, advance directive, cemetery plot. How many death certificates to order. Who needs to be notified. All the monthly bills that are on autopay. I update it when necessary and notify my daughter, my only heir. I had so many loose ends when my wife died four years ago that I want to make it easier for her

[stopdiggin]

7. yep. people don't want to "burden"

or inconvenience their family ....
Then why are you leaving them a "nightmare" to untangle after you're gone?

Write it ALL down -- and then make sure at least a couple individuals know where to access the records!!!

[central scrutinizer]

9. I think it's more an aversion to recognizing

One’s own mortality.

[csziggy]

8. Yep, here is one story no one wants to experience - and there are more

Man Loses Out on $225M in Bitcoin Because He Can’t Remember His Password
Offbeat
2:49 PM PST, January 18, 2021 - Inside Edition Staff

Stefan Thomas invested in the digital currency Bitcoin in 2011, back when it sold for just $2. Today, it sells for $35,000 per bitcoin, leaving Thomas with a $225 million fortune. The only problem — he can’t remember the password to access his digital wallet.

“I tried a couple different passwords, but none of them worked,” Thomas told Inside Edition. Ten years ago, when he bought the bitcoins, he misplaced the password. “I vaguely remember writing the password down and putting it somewhere safe. When I needed it, I was desperately searching everywhere, and I couldn't find it,” Thomas said.

Now, he finds himself the subject of worldwide fascination after he was featured in a New York Times article about people being locked out of their Bitcoin fortunes.

The system allows 10 shots at entering the correct password. After that, your account automatically locks up. So far, Thomas has guessed his password eight times, leaving him with two chances left. After that, his fortune will be gone forever.

More: https://www.insideedition.com/man-loses-out-on-225m-in-bitcoin-because-he-cant-remember-his-password-64369

[Whiskeytide]

14. Good advice. Our tech guy tried to get me to buy ...

... some Bitcoin back when it first came out. Something like $1 a coin. I declined (still kick myself), but he was into it. I don’t KNOW that he bought some, but I feel sure he did.

He passed away a few years ago - about the time it was exploding in value. I contacted his wife just to let her know there could be something like that on one of his devices, and she didn’t know anything about it. She’s been unable to find anything. No telling what it might be worth.

You have to write that stuff down and make sure it is known to your family.