Topic: If bitcoin owner die. It means bitcoin also lost forever? - page 6. (Read 1835 times)
I think thats a huge problem with cryptocurrencies, and a huge problem espacially with bitcoins. I think there are so many coins lost forever, because someone maybe buyed some coins years ago for some dollars, and then he wasted his computer in the junk. I also think there are a lot of people who buyed some bitcoins and they died. So maybe the circulation supply of bitcoins is much lower then we think. Somewhere it was written that 30% of all bitcoins are lost forever. I think its a lot more.
I think it is not lost but it will be useless because no one can use it aside from the dead owner.I will share my private key to my love ones so that they can use it when I am gone 
If nobody know about this wallet and also don't know password bitcoin would be lost forever. In future when people will find the way to hack blockchain everything would be returned.
Definitely, if that wallet no one knows the share of bitcoin that users have will be stock and it will not be used in the circulation. Thus, we must give to the trusted person that we've been know since we can't even know if we will be still alive in the next days. Also, we can't even control the possible happenings that we may encountered so much better to secured in right place on our confidential informations.
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 if the owner of the bitcoin dies without anyone knows how to get their password in wallet, the bitcoin will stay their because no one will know about it or access on it. Sadly but this bitcoin will be kept until the system change it. The password is too strong to be worth hacking with.
of course, so from now on we all give the key of bitcoin storage wallet to the nearest person or family so that if we are gone, that person can manage our assets.
I made a similar thread about a year ago.
https://bitcointalksearch.org/topic/m.20477639
Seems like a lot of people think about considering some kind of coin recovery. However, I don't see how this could be possible without identifying yourself. And I can imagine many people prefer remaining anonymous, which of course, includes a lot of risk (loss of wallet, death or serious illness etc.).
https://bitcointalksearch.org/topic/m.20477639
Seems like a lot of people think about considering some kind of coin recovery. However, I don't see how this could be possible without identifying yourself. And I can imagine many people prefer remaining anonymous, which of course, includes a lot of risk (loss of wallet, death or serious illness etc.).
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?
Every un recovered bitcoin is deducted to the volume in circulation,meaning all that lost bitcoin will be never found ,if time comes though forute is impossible that all bitcoins in market suddenly lost of forgotten password then bitcoin is dead..unless creator satoshi nakamoto will fix this for whatever form it might
If you can find private key and password, then it isn't lost. However, if you lose it, then it's lost. For ever. I'm underage and I'm not worried about death, but I have it hidden somewhere they can't find it out but they will surely do it in an emergency.
Bitcoins lost forever only when we loose private key for wallet
There is no need to dying wallet owner ))))
There is no need to dying wallet owner ))))
It could be that the deceased person is planning to inherit the coin, here the coin problem is lost forever and there is no guarantor to bring back in any way again to replace the coin.
this is where the actual role of government is needed to menengahkan it, the government can give way out or guarantee coins that do not have owners when it happens, if the government participates.
this is where the actual role of government is needed to menengahkan it, the government can give way out or guarantee coins that do not have owners when it happens, if the government participates.
From my experience, I'd say that the vast majority of the Bitcoin users don't share their passwords or private keys with anyone. In many cases, none of the relatives are even aware that this individual is holding crypto-currency. Obviously in such cases the coins will be lost if the owner suddenly passes away.
If you do not have access to keys from friends and relatives, yes it means the asset is lost. In this, plus and minus the decentralized systems
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?
unfortunately yes. if no peoples know about your wallet information, no one can move the balance. even bitcoin developer cannot to anything about it.
if they can recover the bitcoin, it is against the security of bitcoin itself.
but with the longer the price will increase as more and more demand.
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 it is very possible. But as of now there is almost 3 million bitcoin lost because of missing private keys. if you add up satoshi nakamoto bitcoin it will be roughly 4 million and there will be only 17 million circulation supply forever. the lost bitcoin will be never ever be recovered. no one can hack bitcoin.
Hm, never thought about it but I don't think so. There are certain ways not to let it die. I am not expert but I think it is possible to give an access to your family protecting coins and allowing them to use it in case of emergency or if the owner dies.
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).
I think if the owner of a bitcoin dies does not seem to be losing the bitcoin around the world because the bitcoin program is on the internet so that the bitcoin is running low because the bitcoin brain in the process dies but bitcoin will continue.
it is very unfortunately if happened.sebenarnya there is a solution to prevent it happens the solution is the same as the inheritance.If you have a bitcoin in large quantities then you think it must be inherited in your child.soon and tell your account and password bitcoin on your child so that your child can continue your bitcoin business and will not just disappear.
Bitcoin will be the owner of the child's inheritance. The person who knows which password is kept in a wallet. None other than that person knows, it is not possible to know. Find the wallet and password of the person in the legacy or dreams. Under such circumstance, bitcoin will remain in bad shape.
Yes all people are are dying but it doesnt mean that if the owner of the bitcoin die the bitcoin lost too that a bad mistake because if the owner dies possible there is a new owner the original owner inherit it to his or her relatives so that bitcoin keeps continue in the future and people around the world are no worries
If nobody know about this wallet and also don't know password bitcoin would be lost forever. In future when people will find the way to hack blockchain everything would be returned.
Bitcoin is a universal currency. There's a limit of 21 million. I wonder what happens when I reach the border.
They can not finish Bitcoin. It loses value, the population falls. They can not do any harm except him.
They can not finish Bitcoin. It loses value, the population falls. They can not do any harm except him.
Jump to: