{"id":935,"date":"2018-06-24T08:23:46","date_gmt":"2018-06-24T07:23:46","guid":{"rendered":"http:\/\/www.wasteyourtime.co\/?p=935"},"modified":"2019-09-09T12:57:39","modified_gmt":"2019-09-09T11:57:39","slug":"bitcoin-after-death","status":"publish","type":"post","link":"https:\/\/traders-paradise.com\/magazine\/2018\/06\/bitcoin-after-death\/","title":{"rendered":"What With Bitcoin After DEATH"},"content":{"rendered":"<p style=\"text-align: center;\"><i><span style=\"font-weight: 400;\">1 min read<\/span><\/i><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-11100 size-full\" src=\"https:\/\/traders-paradise.com\/magazine\/wp-content\/uploads\/2018\/06\/btc-wallet.jpg\" alt=\"Bitcoin after death\" width=\"680\" height=\"400\" srcset=\"https:\/\/traders-paradise.com\/magazine\/wp-content\/uploads\/2018\/06\/btc-wallet.jpg 680w, https:\/\/traders-paradise.com\/magazine\/wp-content\/uploads\/2018\/06\/btc-wallet-300x176.jpg 300w, https:\/\/traders-paradise.com\/magazine\/wp-content\/uploads\/2018\/06\/btc-wallet-370x218.jpg 370w, https:\/\/traders-paradise.com\/magazine\/wp-content\/uploads\/2018\/06\/btc-wallet-424x249.jpg 424w\" sizes=\"auto, (max-width: 680px) 100vw, 680px\" \/><\/p>\n<p><span style=\"font-weight: 400;\">Bitcoin after death! A bizarre topic, I know, I know, but shit can happen. Yeah? <\/span><span style=\"font-weight: 400;\">And no, of course, I don&#8217;t mean &#8220;death&#8221; of bitcoin, but miners and owners. <\/span><span style=\"font-weight: 400;\">I would like to ask you something.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">If something is virtual, can it be inherited after someone&#8217;s death? You know, it isn&#8217;t lol, that is a serious question. <\/span><\/p>\n<p><strong>And unfortunately, it&#8217;s already happened.<\/strong><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_74 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/traders-paradise.com\/magazine\/2018\/06\/bitcoin-after-death\/#Bitcoin_after_death\" >Bitcoin after death<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/traders-paradise.com\/magazine\/2018\/06\/bitcoin-after-death\/#The_question_is_can_the_bitcoins_be_inherited\" >The question is can the bitcoins be inherited?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/traders-paradise.com\/magazine\/2018\/06\/bitcoin-after-death\/#The_issue_on_legislation_-What_With_Bitcoin_After_the_death\" >The issue on legislation -What With Bitcoin After the death<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/traders-paradise.com\/magazine\/2018\/06\/bitcoin-after-death\/#You_would_like_to_read_HOW_TO_MONETIZE_BITCOIN\" >You would like to read HOW TO MONETIZE BITCOIN<\/a><\/li><\/ul><\/nav><\/div>\n<h3><span class=\"ez-toc-section\" id=\"Bitcoin_after_death\"><\/span><strong>Bitcoin after death<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">It happened to the family of a young man who died in his early 30th&#8217;s.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">A family of young men, <\/span><i><span style=\"font-weight: 400;\">Matthew Moody<\/span><\/i><span style=\"font-weight: 400;\"> from California found themselves facing this problem. Namely, Matthew was one of the early miners of the cryptocurrency, or rather bitcoin. Then, when mining didn&#8217;t need special equipment, a dozen graphics cards and their own power plant in the basement. Time of crypto &#8211; pioneers.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">But Matthew died five years ago, and <strong>he also left behind the bitcoins<\/strong>. Nobody pays attention to it but as the value of bitcoins grew, his family wanted to take over them. And then there was a problem in front of them.<strong> There was no lawyer who can give them advice or help<\/strong> because inheriting bitcoins was a totally new area. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Cryptocurrencies were an unknown area.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"The_question_is_can_the_bitcoins_be_inherited\"><\/span><b>The question is can the bitcoins be inherited?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Matthew&#8217;s father tried to determine how much bitcoin left his son behind, but without the key to accessing a virtual wallet, it seemed like a mission impossible.\u00a0<\/span><span style=\"font-weight: 400;\"><strong>The problem is that there is no rule to regulate<\/strong> what is happening with bitcoin (or any other virtual currency) <strong>after the death of the owner.<\/strong><\/span><\/p>\n<blockquote><p><span style=\"font-weight: 400;\">Unlike them, the classic money deposited in the bank can be reached even after the death of the owner if you prove that you are a heir.<\/span><\/p><\/blockquote>\n<p><span style=\"font-weight: 400;\">In the case of bitcoin, there is no centralized body (which is the main advantage at the same time) that would solve such problems, and even the classic legal bodies actually do not know what and how to solve this problem.\u00a0<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"The_issue_on_legislation_-What_With_Bitcoin_After_the_death\"><\/span><strong>The issue on legislation -What With Bitcoin After the death<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">This will be one of the issues that legislators will have to deal with if they want to regulate crypts and their use in the future. Desiring that such bitcoins do not end up on garbage, stock exchanges dealing with the trade of cryptocurrencies are considering introducing the security mechanisms. They would be activated after the death of account owners, which would simultaneously allow the heirs to reach those cryptos.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Some of the biggest brokers like <em>CoinBase<\/em> (<\/span><strong><i>and they are maybe unique<\/i><\/strong><span style=\"font-weight: 400;\">), have established a kind of custodial service that keeps the user&#8217;s private keys. The same ones without which it is impossible to access the user account or wallet.\u00a0<\/span><\/p>\n<blockquote><p><span style=\"font-weight: 400;\">If something happens to the owner, those asks the successor for proof of death and inheritance in order to transfer funds to his heirs.<\/span><\/p><\/blockquote>\n<p><span style=\"font-weight: 400;\">But users are those who will ultimately have to take into account and include the inheritance of cryptos into their wills. Or at least notify family members that they own crypto and where it is stored.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The point is, do not forget your cryptos and leave them out of your will. I mean, it&#8217;s smart to do this if you love your family.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Including with the key, of course.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"You_would_like_to_read_HOW_TO_MONETIZE_BITCOIN\"><\/span>You would like to read <a href=\"https:\/\/traders-paradise.com\/magazine\/2019\/02\/monetizing-bitcoin\/\">HOW TO MONETIZE BITCOIN<\/a><span class=\"ez-toc-section-end\"><\/span><\/h3>\n","protected":false},"excerpt":{"rendered":"<p>1 min read Bitcoin after death! A bizarre topic, I know, I know, but shit can happen. Yeah? And no, of course, I don&#8217;t mean &#8220;death&#8221; of bitcoin, but miners and owners. I would like to ask you something. If something is virtual, can it be inherited after someone&#8217;s death? You know, it isn&#8217;t lol, [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":10708,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[1015,1012],"tags":[75,212],"class_list":["post-935","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrencies","category-traders-secrets","tag-bitcoin","tag-bitcoin-investing"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>What With Bitcoin After DEATH - Traders&#039; Secrets - Traders Paradise<\/title>\n<meta name=\"description\" content=\"What will happen with your bitcoin after your death? Do not forget your cryptos and leave them out of your will. 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