That leads to the next question, just how many billions of dollars in bitcoin and crypto were lost because the heir couldn’t access the wallet ? Or the person who died while holding btc never made arrangements for an heir to get their crypto?
I see what you are saying about gold, only problem is most people dont actually own gold or trade in gold anymore, in the old days some of the physical money was gold coins, thats not the case anymore and our fiat paper money is not even backed by gold anymore, so our paper and digital fiat money thats printed out of thin air is a far greater bubble and scam than bitcoin in my opinion BUT that is what the world trades with you can buy and sell stuff with fiat money, rocks have also been used as money.
Fiat money is also digital and on reality people are buying and selling stuff not with anything physical but digitally, the advantage of bitcoin being digital is that you can buy or sell it very fast, almost instant, accross borders. For now bitcoin is running very well if theres ever any problems in the future then we will hop onto whatever else is available as long as it doesnt require the mark of the beast which might not even happen in our lifetime who knows for sure.
We Christians we need to carry on with our lives, get married, have children, provide for our families, go to church etc and if Bitcoin is helping some people on here provide for their families whats wrong with that?
Anti Bitcoiners "this is the future"
How many tons of gold was lost at sea due to shipwrecks or pirates, there must be tons of gold laying at the bottom of the oceans
Yeah, too bad I also had a boating accident with that hard wallet I used to have.
If you have a tangem it comes with backups
These things happen, just because the conquistadors had a few shipwrecks and lost some gold didnt mean they stopped trading with gold because it was "too risky" they accepted their losses and tried again
There’s a few companies that can help with inheritance, I think Casa and Unchained maybe…
The downside of course is now there’s a record, and you are going to get boned on assets over $12M (I think $25M if married). If you want to comply with the rules of the government gangsters, and are going to have $10M+, creating an irrevocable trust provides the best legal protection, and eliminates inheritance tax, but you lose a lot of the control over the Bitcoin.
There is a specialized company that knows how to structure bitcoin trusts for individuals, if I can remember it later I will post it.
Also there is the Bitcoin life insurance angle, which pays out in Bitcoin and is not subject to taxes. A 10 BTC policy pays out 15 BTC, and it can be borrowed against before you die (whole life insurance) with no capital gains tax owed.
Bitcoin Life Insurance | Meanwhile
Licensed and regulated life insurance in Bitcoin. Leverage the value of crypto today and pass it to the next generation without passing on a huge tax burden.
meanwhile.bm
Last edited:
Got up to 99.2 ... rejected, lol
This is a company based in Bermuda that receives your Bitcoin payments and promises to pay your heirs a greater amount of Bitcoin when you die? Given zero legal precedent for this sort of thing, and zero reason to believe that this company will be around in the future, is anyone actually dumb enough to be using this service? Or any of these other weird Bitcoin financial services you promote?
Also, the issues surrounding the inheritance of Bitcoin demonstrate some of the problems of immutable blockchain transactions. There is every incentive for fraud and theft, and very few remedies available to rectify it when it occurs. Who can you actually trust to custody your Bitcoin besides yourself, given how high the stakes are? If my entire life savings could be irrevocably stolen from me - with zero recourse - with just a few keystrokes, there's no way I'm trusting ANY third party with that information.
Yes that’s definitely a compromise, especially with the life insurance product.
Unchained and Casa use a very robust security feature unique to bitcoin, known as “collaborative custody”. Similar to a safe deposit box, multiple keys are required to open the vault. No one entity, including the bank (casa or unchained) has enough keys to open it. The customer retains enough keys to unilaterally open it though. Also, a neutral third party can custody a backup single key, and collaborate with casa or unchained to unlock the vault. You could add a fourth party that must also collaborate with the other 2.
This is much more secure than traditional banking, where the bank can unilaterally do whatever they want (or what a government tells them to do) with your money.
If these other key holders are in other nations, especially US adversaries like Russia or Iran, there is even more security against a hostile government action against your property (but you also could unilaterally move your bitcoin out of reach using your multiple keys, instantly)
This kind of individual sovereignty is why France and other governments are floating ludicrous ideas like wealth taxes and unrealized capital gains tax. They want to keep their tax cattle inside the fence to be milked, but every day more are growing wings.
This sounds horribly convoluted, and is still wide open for abuse. The very concept of immutable transactions on the blockchain basically incentivizes bad actors to engage in fraud and theft on a hitherto unprecedented scale, knowing that once they get their hands on the money, the victim has utterly no recourse. The recent invention of ransomware, for example, was only made possible by the use of crypto payments. In a Bitcoin-based economic system, you could expect to see all manner of new crimes. For a particularly gruesome example, anyone who was known to own Bitcoin would be opening themselves up to being targeted by gangs for kidnapping and/or home invasion, with the aim of torturing the victim and their family members until they gave up their Bitcoin keys. This is not far-fetched conjecture, either. This has already happened multiple times.
But they can't do "whatever they want". There are thousands of pages of banking and financial regulations governing the behavior of these institutions, which were slowly developed over centuries to encourage stability and discourage fraud, theft and other malfeasance. And sure, the modern financial system isn't perfect, I'm the first to acknowledge that. I just regard the flaws of Bitcoin as much more serious and worrisome.
Do you realize how crazy this sounds to the average person?
"Ok, so what you really need to do to be secure is share the passwords to your life savings with people in Russia and Iran."
You seriously regard this as the future of finance? You think this is going to catch on as anything more than a speculative asset?
Imagine a safe deposit box but impenetrable…or the dual keys required for an icbm launch. It’s simple.
Same as gold or cash…except violence yields nothing with bitcoin. You have no clue how I have it custodied or how much I have. I could have the majority in a time-lock multisig that can’t be moved months or years. There are so many security possibilities your head will spin.
Same with any physical asset, like South African farmers know too well. Bitcoin has ways of preventing theft even under torture - you can keep it in a way that that will yield nothing. I can enter a duress code in a hardware wallet that will wipe everything but a decoy wallet, another that will cause it to glitch out, and one that will brick it.
Banks have de-banked dozens of people for political reasons. Denying their entire families from accessing banks or credit cards. Andrew Torba, creator of Gab, for the crime of creating a free speech social media platform that respects the first amendment and basic human rights. Dozens of tech founders who supported trump. Thousands of Canadians who donated to the Freedom convoy. Rules and regulations protect the banks and government, not the people.
Operation choke point and choke point 2.0
The average person thinks it’s too complicated and won’t bother to learn, until they feel enough of the government’s boot on their throat.
Bitcoin is rat poison squared, and it’s going to kill the rats in a spectacular fashion
Last edited:
This is doom and gloom anti-American magical thinking. Pure BTC copium at its finest. I honestly don't know where some of you guys are getting this "America and the US dollar are about to fail and disappear into the ether" crap?
I never have and never will experience the US governments "boot on my throat." You know why? Because I don't show up to rallies and protests, I don't say and/or do stupid shit in public, and I don't center my life around money and things. Sure, if you are out there running your mouth on controversial subjects (like Torba, Bilzerian, Jones, etc.) and/or are neck deep into the world of JQ financial usuary, whether it be via gold, fiat, 401K, real estate, or BTC, then you have plenty to worry about because you have plenty to be confiscated. But if you keep your mouth shut and trade in materialism for minimalism then America is the freest, least oppressive country in the world. So please stop telling me that what I'm experiencing in America isn't what I'm experiencing (hope and prosperity), but what you're experiencing (doom and gloom). There is no police state, and there is no coming confiscation of financial assets. So stop spreading misinformation in an attempt to make bitcoin seem like it is the work if God, when in fact it is the work of the devil.
It's just the beginning.$100,000
It's not for everybody, as you show on every post you make here.
This is embarrassing.
Don't wait to buy BTC, Scorpion. Buy, and wait. Like I told you to.
$1M in 2029
I hope the forum is still around.
I hope the forum is still around.