If bitcoin owner die. It means bitcoin also lost forever? - page 16.

jbarcenas18

jr. member

Activity: 196

Merit: 1

Quote from: LastRolling on February 18, 2018, 04:14:14 PM

No. It doesn't mean if the owner of bitcoin die, the bitcoin may lost forever because bitcoin can be pass to the people who are interested in bitcoin.
It wouldn't remove its value. It is like an other asset that can serves as a legacy to your family or to the people who want it.

I agree with your opinion, only the bitcoin owner die but not the bitcoin will lost. It can pass from generation to generation, just leave the password to whom you trust so that someone can inheret your investment.

LastRolling

member

Activity: 308

Merit: 10

No. It doesn't mean if the owner of bitcoin die, the bitcoin may lost forever because bitcoin can be pass to the people who are interested in bitcoin.
It wouldn't remove its value. It is like an other asset that can serves as a legacy to your family or to the people who want it.

coinsocieties

hero member

Activity: 728

Merit: 501

io.ezystayz.com

Quote from: warning_btc on February 11, 2018, 11:46:25 AM

If he store somewhere their private keys, you can get inheritance.

When i realise this scenario i already start whiting my paswords and private keys and hide it in a safe place that no one can see only me and my wife but my wife dont mind what im doing he dont know what is it so she just keep it without asking me.

Bitcotalk

hero member

Activity: 966

Merit: 517

Quote from: derigop on February 10, 2018, 11:43:03 AM

Yes. It is, if the bitcoin owner died the bitcoin will not be moved unless some relatives proves that he or she are qualified to inherit the bitcoin owner's wallet.

The best possible solution to this problem is that investor must share his wallet password with someone he has trust who can deliver that coin after dying to his loved ones and the best person to share private key is your spouse or someone who is more closer to you and I think if investor don’t share their private key with other than their families may suffer after them and by telling someone this will help his family to use hat bitcoin and maybe that bitcoin will bring a lot of happiness and they can manage their expenses.

InahC

full member

Activity: 252

Merit: 101

Yes, unless the private key is shared.
You can't move or transfer it without knowing the private key.
So if unfortunately it wasn't shared, the bitcoin and the owner will be in peace forever.

pri3oner

full member

Activity: 504

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Bitgesell (BGL) Decentralized Cryptocurrency!

It will be useful if somebody invent the testament function in these cases. Or self destruction after concrete quantity of days/ course or smth like that.

Lannie25

full member

Activity: 378

Merit: 100

No, actually the government has a law from this incase this scenario happen to every people.
The value of bitcoin who have will remain to your possession. Once you die your heirs can owned it by filing a petition in a court to get the things that they will inherit and make this things in their possession.

Watanabe1505_

newbie

Activity: 60

Merit: 0

It's really if he/she wouldn't leave private key to anyone to access the wallet and there is no way to break the wallet so far. It means that there is only the remain of circulating supply to be existing in the network afterwards.

Xester

hero member

Activity: 994

Merit: 544

Quote from: Gogochen on February 11, 2018, 11:21:04 AM

If no one is in possession of this private key, it does not mean that the bitcoins will be lost.
but they will never be moved to other account,just in this account.

It is not lost but it is like that also. Because if no one knows his private keys, passwrlord or email. It is lost because no one can get it and there is no way to get it. No one will benefit that bitcoin since no one knew about the private key. It is always better to write it in a notebook or have someone knew about it.

warning_btc

member

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Decentralized Digital Billboards

If he store somewhere their private keys, you can get inheritance.

jonemil24

member

Activity: 448

Merit: 59

imagine me

If it's in a paper wallet, it has a slight chance to be recovered by a random dude, if and only if the holder of that paper wallet used his private key once and some bitcoins are still left in it.

All lost bitcoins may not contribute to the circulating supply, but it's still part of the maximum supply.

On my first statement; this is how I see paper wallets work, that's why many people tells us not to use it more than once when sending it to a receiver.

Gogochen

member

Activity: 238

Merit: 10

If no one is in possession of this private key, it does not mean that the bitcoins will be lost.
but they will never be moved to other account,just in this account.

Gargo

sr. member

Activity: 585

Merit: 251

Quote from: coinsocieties on February 11, 2018, 10:52:48 AM

Quote from: mboehler on February 10, 2018, 02:03:25 PM

It is for this reason that I try to keep passwords and logins from all my accounts and purses in a separate folder of the computer, which can only be accessed in an emergency situation. Of course, we all are going to live long, but we need to be ready for anything.

I was also keeping my paswords and private keys in some safe place that no one can see this but i already told this to some one i love. But i did not told them that this is about money i just simply told them that this is something very very important to me and someday it can help us all with this.

Exactly. It is good to tell someone who is trusted about the existence of such a folder in a safe place. As a result, someone will be able to use them in an emergency.

Kodok Bencot

full member

Activity: 994

Merit: 101

If she/he does not give a message to others then the bitcoin he has will disappear, it is important that we must provide important information to the family so that if we die it can be useful.

coinsocieties

hero member

Activity: 728

Merit: 501

io.ezystayz.com

Quote from: mboehler on February 10, 2018, 02:03:25 PM

It is for this reason that I try to keep passwords and logins from all my accounts and purses in a separate folder of the computer, which can only be accessed in an emergency situation. Of course, we all are going to live long, but we need to be ready for anything.

I was also keeping my paswords and private keys in some safe place that no one can see this but i already told this to some one i love. But i did not told them that this is about money i just simply told them that this is something very very important to me and someday it can help us all with this.

mboehler

member

Activity: 68

Merit: 10

It is for this reason that I try to keep passwords and logins from all my accounts and purses in a separate folder of the computer, which can only be accessed in an emergency situation. Of course, we all are going to live long, but we need to be ready for anything.

udivkx

full member

Activity: 279

Merit: 105

If no one has access to this wallet and does not know how to enter it - yes, these bitcoins will never enter the market again. Unfortunately.

maltize

member

Activity: 111

Merit: 10

“Everyone Is A Bank”

Yes, if a person dies and does not leave any access to his purses, these bitcoins will be permanently blocked for general access. Therefore, each of us must take this moment into account, because life is unpredictable. It is necessary to teach at least one of your family members to handle bitcoin, explain the mechanisms of its action and tell you where to get access to wallets in case of trouble.

Glutius

full member

Activity: 602

Merit: 100

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.

Fakhri1907

newbie

Activity: 294

Merit: 0

Yes, the total supply will be reduced. If that really happens, you just can only hope that someone or maybe you can find the lost priv key wallet XD

Topic: If bitcoin owner die. It means bitcoin also lost forever? - page 16. (Read 1835 times)