Topic: If bitcoin owner die. It means bitcoin also lost forever? - page 7. (Read 1835 times)
For me, i think the 21million supply of bitcoin is still the same, but if the owner of the 1 million die and no one knows about his/ her wallet will that 1million that he/she had will never affect the supply of the bitcoin, but that bitcoin will never moved on his/her wallet forever and no one can get that.
The actual number of bitcoins will constantly decrease. People will throw purses with small remnants, people will forget passwords from purses, Computers and purses on which coins will be stored will be broken. By today's calculations, the number of lost bitcoins is more than 3,000,000
Unlike retirement funds or perhaps savings accounts, nobody has to recognize that you simply own them, or what proportion you have got in them or so a way to access them while not you. Bitcoin provides a safeguarded house for the shop of wealth which will be unbroken secret from everybody.It is one in every of the engaging options of Bitcoin for a few, however it additionally implies that it's only too simple to require a fortune of digital currency to the grave
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?
Loss a private key as you lost Bitcoin! No one can help you get back on the basis of current technology, so if someone loses a private key, the amount of BTC that is locked forever.
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 bitcoin will not lost forever if the bitcoin owner die. For me there's a substitution for him/her because there are so many person that controlling bitcoin. If he die I think he will find another to replace his position so that bitcoin will not lost or gone. I think his family will be the one who will replace his position.
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.
If you do not leave a little trace to your relatives it will be lost forever. So you seem to need to prepare if you want your bitcoin not wasted in your wallet. Because maybe your relatives are in need of money when you are gone forever.
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 that happens may be a futile profit because the investment gains will disappear then from that as an experience or a save lesson and tell the person you trust to get your bitcoin inheritance 
Blockchain is an institution which has come to stay. It the concept of Satoshi Nakamoto but have been developed to be decentralized and is now bigger than an individual. So the death of any team member will not in any how affect the bitcoin as an instrument for payment of goods and services.
yes it is, but only if the owner not give any information about their wallet.
if they give their info before they die, the balance of bitcoin wont lost forever.
if they give their info before they die, the balance of bitcoin wont lost forever.
True, so in This Depends on the owner of the bitcoin itself, where He keeps it and how its solution to overcome things like this ... perhaps by giving a testament to the nearest person ...
If it died we can't use it anymore. 
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?
will remain locked Bitcoin can not go anywhere because the password who know the person who has died.
unless there is a family party who knows and appealed to a particular Exchange Fiat Local to open the id + paswword ny to move the Bitcoin.
Right now there are two possibilities if a bitcoin holder dies;
1. He has left his private key or seed phrase with his lawyer so that his executor can distribute the contents of his wallet to those stated in his last will and testimony. I would expect that this is an extremely rare occurrence for now.
2. His Bitcoins are left in his wallet address for all eternity, thereby reducing the available supply, and slightly increasing scarcity, contributing to BTC value growth.
I agree, sure that all large bitcoin owners will be designed in such a way to deal with the unexpected, this is natural because big assets are usually not just 1 person who hold / know. very risky to hold it alone 1. He has left his private key or seed phrase with his lawyer so that his executor can distribute the contents of his wallet to those stated in his last will and testimony. I would expect that this is an extremely rare occurrence for now.
2. His Bitcoins are left in his wallet address for all eternity, thereby reducing the available supply, and slightly increasing scarcity, contributing to BTC value growth.
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 is why we also need to atleast note the guide how to take our bitcoin for our family member, teach them how to used it
Give them our legacy that we invested.
So our works, will not become nothing
Here comes the point that we need to educate our descendants about crypto currency specially bitcoin of what we envisted exerting efforts must pass through into our family members they inheret our coins.
yes it will deduct on the supply of bitcoin but because there is also fork it might change. but the bitcoin that was in the wallet of the dead person will stay in there forever if no one can open it because of one knew the private key of his wallet. it cannot be transferred as the only way hos family to have an access with it is through his private key.
We have prepare of something we do not know when it happen for us or for our family have joined and experience at cryptocurrency, include about the wallet have we used before. Like we have much bitcoin balance on my wallet, we don’t know when we will pass away, we have give our data to our patner or could to our family, when we was pass away our family could take our balance on the wallet. If they are don’t know it our balance is gone.
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 person did not put the private keys in a particular folder, then, all of her/his bitcoin will remain that way, nobody can get it and have it as long as the family have some idea about it and can get the private keys, they can get it easily.
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 aside from the person owns the bitcoin knows about his account and private key, then that bitcoin will forever be locked as long as the bitcoin system doesn't change in the future. That is why I think it is suitable to have a partner in this business or even a precaution like a will when you die. You can ask your lawyer to do some arrangements with this and you have to write down your private key if you will do so.
Therefore you should prepare everything about bitcoin in the future. One example you can save like a wallet with a privacy key in it. And it can be a legacy for your family or it could be for your close friends.
Jump to: