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Comment by kozak | Hacker News Reader

Which is fine until you want someone to be able to inherit your money.

Well, that would be stupid from your part if you kept wealth that should be inherited in Bitcoin-form, not a Bitcoin shortcoming. Just like it is not a shortcoming of cash that you can bury it in a hole in the desert and tell no one about it and expect it to be inheritable.

Thinking you will know the day and hour of your death is extremely bad estate planning. Any wealth is potentially inheritable, because you can die at any time.

(And yes, that is a shortcoming of cash. Which is why we've invented other ways to store value, and approximately nobody stores their money in random holes on other people's property.)

Uh I mean, not that I'm a cryptocurrency enthusiast by any means, but wouldn't prudent estate planning include a prepared will or some sort of next-of-kin document that includes a mechanism for access to your accounts/passwords/passphrases?

There’a an app for that: https://keys.casa/bitcoin-inheritance-plan/

>Thinking you will know the day and hour of your death is extremely bad estate planning.

I never claimed the contrary.

The prudent thing to do is to use Bitcoin for its intended purpose: electronic cash. Convert from fiat to crypto as needed, not as a store of value.

There are various types of smart contracts that can help you to do that.

https://en.bitcoin.it/wiki/Multisignature

That’s already covered: https://keys.casa/bitcoin-inheritance-plan/

Put the secret key in a safe deposit box and inherit the key

If you're passing down a single bitcoin as an eccentric memento, okay. Otherwise you should take into account:

https://www.nytimes.com/2019/07/19/business/safe-deposit-box...

Safe Desposit Boxes Aren't Safe:

https://news.ycombinator.com/item?id=20545276

Reply on news.ycombinator.com