

The Harsh, Logical World of Cryptocurrencies - sgrove
http://diegobasch.com/the-harsh-logical-world-of-cryptocurrencies

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shalmanese
The really interesting question for me has been how to securely bequeath
bitcoin as an inheritance.

You need to ensure that your bitcoin can be successfully transferred after you
die while also ensuring that it can't be unintentionally transferred while
you're alive. Let's say your give your bitcoin wallet password to a trusted
friend/lawyer to hold onto in case you die. Now you've just doubled your
attack surface for adversaries to steal your bitcoin. At the same time, you
can't only keep your bitcoin password in your head or your bitcoin will become
worthless once you die.

People are already not good about estate planning today, I wonder how many
millions of bitcoin will be lost in the next couple of years as bitcoin
millionaires die without making sure there's proper paths towards retrieving
their assets.

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valtron
If cryptocurrencies take off, banks are simply going to store keys for people
instead of physical money. For the layperson, nothing will change.

However, with cryptocurrency, the gap between how securely a single person vs.
a dedicated entity such as a bank can store money decreases significantly.

