Yet another aspect of crypto's long term ignored consequences come to light. i haven't seen ANY possible solution for transfer of crypto after original owner's death. even ethereum doesn't have this simple ability inbuilt(which you'd think would be obvious).
this basic question gets downvoted on any forum you'd think of - husband/wife has large amount of money in crypto, they die due to unforeseen circumstances(or even foreseen circumstances but it's a quick degradation of mental facilities). who does the spouse approach for the crypto? they have proof of death so why don't they get the money? poof, value gone - have fun now you're a destitute relative coz you can't figure out passwords(most grieving relatives can't)!
this is why no one trusts crypto,these simple things aren't a fundamental part of the platform. you get people telling you these convoluted solutions(that may or may not work). the fraud potential is sky high. is crypto only meant as a transient toy?
this basic question gets downvoted on any forum you'd think of - husband/wife has large amount of money in crypto, they die due to unforeseen circumstances(or even foreseen circumstances but it's a quick degradation of mental facilities). who does the spouse approach for the crypto? they have proof of death so why don't they get the money? poof, value gone - have fun now you're a destitute relative coz you can't figure out passwords(most grieving relatives can't)!
this is why no one trusts crypto,these simple things aren't a fundamental part of the platform. you get people telling you these convoluted solutions(that may or may not work). the fraud potential is sky high. is crypto only meant as a transient toy?