Topic: If bitcoin owner die. It means bitcoin also lost forever? - page 23. (Read 1835 times)
This leads to volatility in which bitcoin owners can die, I think if the owner or inventor of bitcoin is dead, I think the virtual cryptocurrency money will keep running, because this virtual money will always develop the device in this cryptocurrency business, if the bitcoin owner is dead, there must be a second holder of cryptocurrency, I'm sure it is.
Yes correct, if a person dies without telling anyone about the key and his wallet address. It will be lost forever, it will still reflects from its balance but cannot be accessed anymore.
if he wasn't able to entrust it to anyone before he dies.
then it will be safe to say that his/her bitcoin will be lost forever.
that is why you must have someone you could trust your keys with.
so that all your efforts now wont go to waste.
then it will be safe to say that his/her bitcoin will be lost forever.
that is why you must have someone you could trust your keys with.
so that all your efforts now wont go to waste.
The bitcoin will still remain in his/her account but since no one knows the user or password of the account therefore it can't be trade or transfer to another account.
Yes, the million bitcoins will be in their name and may not move from wallet to wallet again but if they stored online and there is no activity, the company can access the bitcoins and reclaim them.
I'm amused by the fact that so may participants use the word 'if', as in 'if you die'. Every person reading this will die, which is why everyone holding cryptocurrency should prepare. Also, it's not even just a question of death. You could sustain brain damage or contract Alzheimer's. Prepare now 
Maybe the legacy cannot be erase. Because bitcoin has the originality and the quality that you cannont forget into your life. Btc is not possible to gone but it stay for a long period of time.
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 this what happens. And with every Bitcoin holder passing, his coins are also lost for good unless he made arrangements that they aren't. Technically, it would possible to retrieve the coins which are sitting idly on the blockchain after some time, for example, a few dozen or hundred years, but that would be against all current rules.
If most coins get irretrievably lost at the end of the day, it would mean that Bitcoin itself has lost as a currency. But we may not live up to that really.
yes there will means that nobody can know the privatekey of the coin and only the owner
know, if owner die there will be lost forever
know, if owner die there will be lost forever
Sadly, it's the hurtly truth. Noone could reaches to your wallet if they don't have password to the wallet website or the private key of the local wallet.
I do think that bitcoins are something that are lost if something like that happened and then they will remain held forever and they won't be accessible to the normal market till the owner finds their key also there are chances that it will be hacked if they are not taken proper care of..
Well I have heard a thing or two about people loosing bitcoins also the wallet does not have any reason to think that the person isn't holding it for long enough.
Well I have heard a thing or two about people loosing bitcoins also the wallet does not have any reason to think that the person isn't holding it for long enough.
First, there's no bitcoin owner, its a decentralised currency. 2nd, bitcoin inventor is not heard of for past many years but still the currency is doing good. It has got some technical issues but there's a large community working on that.
Maybe if the inventor was still part of the project then he may somehow have a authoritative say on decision making. I personally, wouldn't like that.
Maybe if the inventor was still part of the project then he may somehow have a authoritative say on decision making. I personally, wouldn't like that.
Bitcoin will not disappear if the owner dies. And a little difficult is if the person left behind can not know the password of the Bitcoin wallet. Therefore, the selection of our wallet for Bitcoin should be really the best (support if the previous user died). And I do not know if there is a wallet like I mentioned?
Yup! That 1 million btc will be stuck on his wallet as long as no one knows his private keys/username and password. So if there's a person who will nearly die, I advice him to pass all of his bitcoin earnings to someone who deserves it or just withdraw it then divide for charitable works so that his treasure will have a purpose and will not remain as significant numbers.
I read about this somewhere. It would not be possible to hack bitcoin for next 25 or 30 years. So even if a bitcoin holder dies and leaves no way to recover it, then those who can hack bitcoin will be able to recover those coins. But in the mean time it will be out of circulation and will increase demand for bitcoin.
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 yes, but it depends on the market, maybe he/she trust someone and gave the private key just like a benificiaryMaybe you did not realy understand about my question right? My question is what if the person die’s and no one realy know and no one can open he/she’s acount. The point is the lost bitcoin will deduct to the main supply of bitcoin because no one can move that. Just like a lost treasure or something?
I think bitcoin developers are not just one person, they have a team and when one of the discoverers of bitcoin dies, I think there are others who know the system in bitcoin, even if their leader who dies is in control. certainly in that team also trying to take the stored bitcoin. because most likely they also know the entire database in bitcoin
yes, it will be lost if he don't give anyone his password or private key..so I think everyone should tell his password to his trusted anyone or family members
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?
This question is asked many times before.Why not just search around the forum,instead of posting new threads.If the bitcoins are stored in a cold storage-hardware wallet ,somebody could find it and conduct a brute force attack with some software and crack the password.If the bitcoins are on an online wallet,the company that runs the online wallet service could deactivate his account due to inactivity and get the bitcoins.
you are right, I agree with what you say.
this is the correct answer of all questions similar to the OP post. I think if there is no heir, obviously bitcoin will move over to the company that manages the wallet.
YES。
Jump to: