Topic: If bitcoin owner die. It means bitcoin also lost forever? - page 13. (Read 1835 times)
Nope, the bitcoin will stay to the trade. Since there are no guidelines or law that oversee about it. On the off chance that it is a fiat the bank given a traverse of time will report it to the administration and the legislature will be the proprietor of the fiat. In my nation and in the event that I am not mixed up it is around ten years. Yet, bitcoin isn't under the control of national bank nor the administration, in this manner the bitcoin's new proprietor will the wallet organization. In the event that you claim the wallet organization, I trust you won't wish to happen something to that effect.
I just got this question in my mind. What will happen if no one knows about the pasword of his/her acount will it posibly deduct to the main supply of bitcoin? Example bitcoin was 21million supply and one man got 1 million bitcoin he was holding and suddenly he died no one can open his wallet is it posible that the remaining 20 million bitcoin forever?
I am also under the impression that this remains true. Although, I could see potential changes to this in the future. If anyone has any links to current news on this, please share!
If ever the Bitcoin is still in the wallet but it will not be able to move it anymore. The total supply is still 21 million because it is still in the count even without the owner . But his password might have been and he gave his trust or one of the members of the family. Of course, big money is involve so it he gave the access to other.
#Datarius
#Datarius
Yes, the 1 million bitcoin of the dead person will still exist, but won't move anymore because no one can make them move from a wallet to another.
This, so far, explains too why bitcoin supply is limited, and decreases with time. Now it's compensated by btc mined, but mining won't last forever (bitcoin income for miners decreases every 4 years).
This, so far, explains too why bitcoin supply is limited, and decreases with time. Now it's compensated by btc mined, but mining won't last forever (bitcoin income for miners decreases every 4 years).
Thanks for this information. At least now I have an idea of what will happen to my Bitcoin just in case nobody in the family knows my password and everything. I could not imagine if a Bitcoiner holding millions of Bitcoin died and nobody knows the detail of his wallet and it cannot be transferred to other wallet. Somebody should know the detail of your wallet. The one that you can trust.
I just got this question in my mind. What will happen if no one knows about the pasword of his/her acount will it posibly deduct to the main supply of bitcoin? Example bitcoin was 21million supply and one man got 1 million bitcoin he was holding and suddenly he died no one can open his wallet is it posible that the remaining 20 million bitcoin forever?
I think we have a lot of bitcoins, that are lost forever, but i think it won't be a problem. It's positive for bitcoin price
your thinking is too far away ... if even the bitcoin owner is dead, this is not done yet, everything you have on the wallet is stored safely. to anticipate everything you do not want, you can introduce your private key code to a trusted member of the family. or your heirs.
I agree, if the owner bitcoin dead password their wallet nobody can open. Bitcoin will take forever. The best way is to pass your wallet password to your children or relatives. This is a way to avoid the worst risks.
If you still have monogamy and no family, then if you die, who do you pass your face? If the person who owns your password does not know how to use it, it's over.
well, if the owner of the wallet that contains the bitcoin dies, then the bitcoins are lost forever except hackers bump into it and collect them.
People died, but Bitcoin still exists. As long as the wallet's private key is still there, someone knows its existence, and you can use it to open your wallet and transfer Bitcoin away.
For my own idea about bitcoin business, it is not actually operated by a single person, and I think not also a single country, it is likely a form of a large corporation which is own and operated by a generous people. The name Satoshi Nakamoto is the common name used by bitcoin business, and no one knows who really is the certain Satoshi Nakamoto, maybe Satoshi Nakamoto is a group name which is the founder of bitcoin. But I'm not sure about my opinion, it is only beyond my imaginations, and hopefully my idea helps to those people have a wide imagination and understanding about bitcoin business. So, no need to worry about bitcoin owner will die because there's a lot of member also replace their position.
Bitcoin is concerned with the holders now it is continuously ongoing currency so if the bitcoin owner is die i think it will not affect the bitcoin now it is good to trade bitcoin the digital currency in the present time from this we can become rich and with this the bitcoin is very popular with the interested investors and the wise traders now it is very profitable to join the crypto.
Most likely, these bitcoins will be lost to the market. But many people do not care where they store information about passwords - on their personal computer or in a paper notebook, and heirs of property can fully master this information and gain access to bitcoins.
I just got this question in my mind. What will happen if no one knows about the pasword of his/her acount will it posibly deduct to the main supply of bitcoin? Example bitcoin was 21million supply and one man got 1 million bitcoin he was holding and suddenly he died no one can open his wallet is it posible that the remaining 20 million bitcoin forever?
As far as I know, this is a fact because there isn't a solution present today that can make this problem solved. Most probably an update of some sort may come. Or exchanges might make policies about unclaimed and unupdated bitcoins to be absorbed by the exchange.
Therefore, we believe that Bitcoin is more valuable than gold, and gold is still larger than Bitcoin in terms of humanity. Gold is more often used as a medium for decorations or transactions, and its value is useless.
maybe it is time to create something to stop it from happening.
People will include their wallet passwords in testaments soon. Crypto develops so fast that it seems quite reasonable.
I agree, if the owner bitcoin dead password their wallet nobody can open. Bitcoin will take forever. The best way is to pass your wallet password to your children or relatives. This is a way to avoid the worst risks.
bitcoin will disappear during its time if the owner of bitcoin off and not tell the pin, email, and 2fa nya.Maka from that there are times when we tell some data to go into bitcoin account which we have to the nearest family as its anticipation
The Max supplay bitcoin is 21Million, cant descrease or increase, if bitcoin holderss die, doesnt effect with bitcoin. but bitcoin in their wallet is gone, that why you must anticipated this, tell your family or your trusted friend about your wallet so if you already die, they can open it and continue your work
Yes i agree, like impossible treasure, Yes i agree, no one can have it
I think so too, because I think 1 million bitcoin will still exist but does not move at all. can be said that the bitcoin is dead. #CMIIW
Yes i agree, like impossible treasure, Yes i agree, no one can have it
I think so too, because I think 1 million bitcoin will still exist but does not move at all. can be said that the bitcoin is dead. #CMIIW
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