If bitcoin owner die. It means bitcoin also lost forever? - page 21.

pikecara

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Quote from: coinsocieties on December 25, 2017, 07:25:36 AM

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?

If you have the private keys if anyone who died ... you own them bitcoin... hehe is really simple ... if you have bitcoins your own and no one has your private keys you should be worried.

cjinny

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Quote from: coinsocieties on December 25, 2017, 07:25:36 AM

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?

If the bitcoin holder dies and does not archive the account and keywords to inherit it to his family, bitcoin is lost from the family's hand, but the missing bitcoin still exists in the blockchain network. So in my opinion bitcoin is not lost, but inaccessible.

kuberayt

newbie

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The bitcoins get lost until quantum computers are developed and people are able to hack into the wallets to retrieve them. If the internet goes down, so do the bitcoins. but so does everything else. So we have to choose

Renal

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If you die today, clear your bitcoin anywhere.
Walking dead too, unless someone knows and can enter your wallet
That's a different story, if you want to die. mending bitcoinnya in cairin only.
Continue sedekahin same people who need, so it can benefit.

steveabrahams

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Quote from: coinsocieties on December 25, 2017, 07:25:36 AM

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?

If no one knows his/her account and password, the bitcoins will stay remain forever in his/her wallet. That's why you need to make a notepad or a file about your wallet and the password, so when something bad happen to you, your family will know your bitcoins and they can open the wallet and take it.

novhitadaloma

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if I still if I die today and I am in the wallet then before I will teach family I believe to love my wallet password because of bitcoin sia2 can be enough for family property.

eaLiTy

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Have Fun )@@( Stay Safe

Quote from: bitperson on December 25, 2017, 07:27:56 AM

Yes. But a fork might change that. As a current example, the Segwit2x fork that has been announced for 28 December proposes to redistribute Satoshi Nakamoto’s coins.

I heard about the segwit2x fork,since there are many forks going on with bitcoin , i am not bothered much as i am yet to cash in my other fork coins ,but i did not understand is how they are going to redistribute the coins held by the developer,how can they do that fair and share and if they can take the coins from that wallet how secure is other wallets,they could literally take those coins from any wallet. Roll Eyes

If someone is holding bitcoin and he dies,the coins he is holding is lost unless someone gets his private key.

shinjunobi09

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I mean if that's the case then you really have no choice but to abandon your bitcoin because it is pretty much useless at that point because you can no longer access your bitcoin it is as good as dead. Which is why it is important to backup password because practically it is one of the most important thing in your wallet because without it you could not access your money there.

joshua05

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Quote from: coinsocieties on December 25, 2017, 07:25:36 AM

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?

yes ofcourse because all wallet for bitcoins is encrypted and only the owner can open and manage his or her bitcoins unless he or she had a companion that has the private key for the wallet to transfer it to another account if the real owner dies

Ana Le

jr. member

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Sure ! This is the security of blockchain technology! So, if you own coin, tell your loved one about your account! Huh

Wipangga

member

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in the forum is very easy to do, if you leave bitcoin you can give your private key to your family or your siblings, to continue it, for me it is very easy to do everyone who is working in this forum.

phelbaby

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Same way you will want to share with your family member about your investment,it will be also nice and thoughtful to let your family know about your keys to your bitcoin,same time teach them how to trade with bitcoin.

Samueltalk

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If it all happens then I will tell you the account code and the bitcoin password to the person we trust like both parents, brother and sister.

Sithara007

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Quote from: thetractor666 on December 27, 2017, 09:32:57 PM

Once bitcoin gains acceptance there might be ways to pass the wallet to someone of your choice, it is a dangerous prospect imho

Unless the owner of those coins has passed on the private keys to someone, there is no way to pass the wallet to another individual, and no amount of acceptance can change that scenario. If the developers implement a hard fork to change that situation, then it has the prospects to become a double-edged sword. There can be a lot of misuse.

thetractor666

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ExtraCredit ICO 20% Presale Bonus! extracredit.io

Once bitcoin gains acceptance there might be ways to pass the wallet to someone of your choice, it is a dangerous prospect imho

Geoll29

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Before the bitcoin owner dies, he should tell to his most trusted person all the information about the bitcoin he has. There's no sense in keeping your wealth and then when you die no one will continue holding onto it. Being wealthy is not a destination, it's a journey. Whatever wealth you accumulated in this life are useless if you take them to your grave. So choose carefully the person you're going to pass these assets.

ycoin123

newbie

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Quote from: Chris314 on December 25, 2017, 07:42:11 AM

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).

well bitcoin has it's pros and cons

lionheart89

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could be, depending on the owner save bitcoin where, if stored in the wallet online i think the wallet will deactivate his account and claim his bitcoin. and it could be that the bitcoin owner has notified his address and password to the trusted person.

DPrillio

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Quote from: Nanda Dewi277 on December 27, 2017, 06:38:15 PM

Quote from: coinsocieties on December 25, 2017, 07:25:36 AM

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?

yes, because Bitcoin does not care who owns and what the circumstances of people who have Bitcoin. so if someone left Bitcoin then it is considered the holder

Based on my understanding bitcoin is a decentralized system therefore no other party controlling it and in case of holders decease then its bitcoin will remain in the wallet and it can never be transacted without the encrypted key. So its better to secure everything like password and give it to our trusted one in case of our death.

Nanda Dewi277

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Quote from: coinsocieties on December 25, 2017, 07:25:36 AM

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?

yes, because Bitcoin does not care who owns and what the circumstances of people who have Bitcoin. so if someone left Bitcoin then it is considered the holder

Topic: If bitcoin owner die. It means bitcoin also lost forever? - page 21. (Read 1835 times)