Topic: If bitcoin owner die. It means bitcoin also lost forever? - page 19. (Read 1835 times)

If the person die and no one from his/her family know the private key or the password. There is no way they can get or use the bitcoin of the deceased.

This is interesting as a good discussion, I also suggested to some of my friends to trust someone to hold the key of bitcoin wallet, most importantly is the closest person who can be trusted hold the key of the wallet so bitcoin can be inherited.

If the owner of bitcoin die there possibility to lose his/her bitcoin if the owner is Noone of his /her family know about bitcoin. But if there's someone know his/her doing in bitcoin there's possibility they can get all the owner earning in bitcoin or continue the owners doing in bitcoin.

sure they're gone if nobody knows how to access his private key, otherwise I'd loose trust in they sytem..

certainly, those Bitcoins are still existed, but they cannot be used or restored. Bitcoin wallet just has one private key. No one can fixed them.

if the owner of bitcoin dies then the number of bitcoin in the world will decrease.
I think bitcoin password must be in the know by our family like wife because if we died bitcoin we can be owned by our family.

I suppose yes - every year will have more "dead" wallets and I don't know what will be in 50 years for example =)

There's the dilemma there. You won't know when you'll die unless you have a terminal disease and you also wouldn't know if the person you trust your private keys with will stay true to your trust. Especially if you have a lot of btcs.

it will be lost forever

i think yes it still be in his or her account but no one will get the money he invested unless he put it in a place or wrote it somewhere that can easily seen by his or her family and I believe he surely shared to his or her family how to handle bitcoin or use it.

definitely fork might change that problem. but i dont think bitcoin will die also because its already circulationg all over the world all bitcoin is distributed very well in some people who buy bitcoin.

Is Possible To Open Bitcoin Account, Someone Who Has Died.

If in Conventional Bank Account. Examples Like in Bank BCA, Bank BRI, Bank BTN, etc.

If Any of Our Closest Relatives Die and We Are One of the Family Who Gets Inheritance. It's not a hard thing to open it. As long as the Inheritance's Guarantee has been Validated by the Bank Party.

Then the Bank will open the Account. And Giving a Live Account Substitution
New Password to the heirs.
However, the Question from Mas Murch is How to Open a Bitcoin Digital Money Account owned by a Siblings Who Have Died the World. How to…?

Very complicated
We know, Bitcoin is Digital Currency and Stored also in Digital Purse. To open and access this Wallet requires a Username and Password.

Another New Problem is the Digital Wallet has 2 Kinds of Type. That is :

1]. Handbags handled by a company employed by Human Employees

2]. Robotic Wallet with High Encrypted Security.
If the Account Owner Registered himself in a Wallet Company done by Humans. Maybe Still Can be Saving. We Come or Post an Email to the Wallet Company concerned that the Owner who dies this world is his family. By Including Valid Important Information. Such as ID cards, Family Cards, Drivers License, Heirs, Valid Information About Death, etc. Printed in Screenshot Digital.

But unfortunately, Digital Wallet Company is also making System using Robot. Because The Wallet Company Runs Automatically Controlled by Online Robot with High Encryption Security and Anonymous.
If Bitcoin Account Owner Saves Digital Money In The Wallet At Point 2. Then It's Difficult To Be Open It. Even if you submit the Truth Document on Death and Heirs. The Digital Wallet Company will reject it. Because the Company Owners also can not do much because the System is set to have been taken over by Anonymous Robots.
The Only Way is Someone Before It Dies. Has Notified First. Password and Username to the Family Heirs he trusted.

If guns Kayak so. So When Someone Dies. Bitcoin Money Will Continue to Be Stored and Buried in the Digital Wallet Forever.

Bitcoin Money Buried In The Maya World. It could be a time the value zooms and decreases automatically. In Involvement by Trading Competition Trading between Currency Crycptocurrency. But surely, guns have 1 person who can take it if the username and password is not in the know.
so in conclusion if the owner bitcoin dead automatic bitcoin will come to death, without explanation above.

if bitcoin owner dies, then the bitcoin is lost forever except the owner has his wallet details saved somewhere. so to be safe, get the details saved for your beneficiary

Writing an important thing in the text is a really bad idea unless you secure it tightly. That is why people should think Bitcoin like a real asset, so they will make a testament letter before they died.

As we are all aware, a Bitcoin wallet is encrypted by a private key or password and they are needed in order to decrypt and access that specific wallet. So if there is a wallet that contains 1M of BTC and the only person who knows how to access that wallet died then we can consider that the coins inside that wallet lost forever. There is no other way to transfer that amount to the circulating supply but to decrypt that wallet. Someone could crack it using powerful computer/s but as long as it is locked, the coins are lost forever.

Theoretically, when a number of Bitcoin become lost, the total supply remains the same. So from your instance, when 1M BTC became lost, 21M BTC will still exist. However, only 20M will be in circulation forever, unless the remaining coins were recovered.

If the user does not have access to the dead owners wallet/private keys, then yes! By yes, I mean that the coins won't be lost but can never be accessed. It will still exist in the supply but can never be used. There are supply cap of bitcoin, and it will remain constant. The coins which can not be accessed will not be replaced by new bitcoins.

At this current moment, all of the wallet content will not be recovered if the owner did not pass on the wallet information to someone else in case something happens to them. As someone else said on this thread, a way that might not be a good option in a lot of peoples' minds but a solution nonetheless would be to have an internal timer set which would return the wallet content to the pool if no modifications have been made for a certain time span. Yet I do realize this might hinder people that have the intention of holding.

If no one knows your private keys and you accidentally died then those coins will remain lost forever. It will be burnt and will make the supply cut down and less in the circulation. And with your given example, yes that will be the situation if ever someone will forget his private key or log in details to an exchange / web wallets that has his bitcoins.

I think if the owner of bitcoin is dead, bitcoin does not disappear as long as it still keeps the password and username known by relatives or family.

Well , we all are bitcoin owners so it's hard to asume that bitcoin will die of the owner dies. I you are thinking about Satoshi well it's beyond me to answer this. I'm still a newbie.