Topic: If bitcoin owner die. It means bitcoin also lost forever? - page 9. (Read 1835 times)
Yes if bitcoin owner dies then no one can operate or transact with his account if he doesn’t drop details before death. That is why I said bitcoin is an asset that should be transferred or documented for the sake of uncertainty
It could be because if the bitcoin owner dies and does not die something like the privacy key where he keeps the bitcoin i'm sure the bitcoin will be gone forever. So just in case it's better to keep it somewhere so that your immediate family will get an inheritance from bitcoin if you die.
Yes, this is the reason why Bitcoin continues to decrease. If a person forgets his account password, he will never be able to remove Bitcoin from his wallet. I think this problem must be followed by a solution. If an account has a lot of Bitcoin, then the loss is too great.
I thought it would not be like that, bitcoin owners must also have the closest child or family. Surely he will pass on a hail that has accomplished like this. If bitcoin disappears it makes us who use it not get any more money.
The deceased's Bitcoin still exists. If no one knows his/her account password, it is impossible to have them transfer from their wallet to another wallet. I think this is possible.
yes if the person is dead and no one knows the password or private key to access his wallet, the asset will not move and can not be used. but I use simple logic, I think it will only happen in the context of wallet that has a small asset. those who have big assets like thousands of dollars, would have considered it. they will not be able to simply memorize the password and private key, they must have recorded or written it somewhere. and the place must still be accessible to their closest people. as someone said on the first page, I imagine that all of this will be like treasure hunt of bitcoin, interesting haha.
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 it really depends because if a person dies like for example i died but i telles someone that if i die this is my account it is all your when i die something like a will and testament like for example i have a kids and then when i die all of my butcoins will be in them and all of my account will be given to them. But if there is no case like that if you die your bitcoins will remains and if no one knows your passwords no one can access it so it will be locked in that wallet forever
It is very genuine issue raised by you sir. Definitely in case a person dies and nobody in his family knows about his vallet address and password they will not be able to get the ownership of the bitcoin.
Previously in the past also there have been many hurdles problems in certain issues which were raised time to time and resolution afterwards were invented by some intelligent people. Likewise the issue has been raised by you; for which today we may not be having solution but in the future definitely people will be working on it to resolve the issue and I am hopeful of getting resolution with no longer waits. In the meantime we should let our dependents know about the treasure we are having and passwords to at least our husband/wife so they in case of death they may withdraw the money.
Previously in the past also there have been many hurdles problems in certain issues which were raised time to time and resolution afterwards were invented by some intelligent people. Likewise the issue has been raised by you; for which today we may not be having solution but in the future definitely people will be working on it to resolve the issue and I am hopeful of getting resolution with no longer waits. In the meantime we should let our dependents know about the treasure we are having and passwords to at least our husband/wife so they in case of death they may withdraw the money.
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 am believe that bitcoin supply acctually less than 21million. Its happen because many people losing their private key. Many news covering this and last news that i read is people from america dumping his hardrive to trash containing more than 100million dollars worth bitcoin. And i think that happen in many place but not covering in media
A piece of advice.
We work hard at Bitcoin for our family aren't we? This is why we need at least one trusted person to tell everything in case if this happen. Be it your Family your wife/husband or even your best friend.
We work hard at Bitcoin for our family aren't we? This is why we need at least one trusted person to tell everything in case if this happen. Be it your Family your wife/husband or even your best friend.
"Segwit2x fork that has been announced for 28 December proposes to redistribute Satoshi Nakamoto’s coins. "
This is interesting. Is there any reason to think that Mr. Nakamoto is not alive? How would you like it if the community you created decided to divy your loot while you were busy elsewhere?
This is interesting. Is there any reason to think that Mr. Nakamoto is not alive? How would you like it if the community you created decided to divy your loot while you were busy elsewhere?
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 someone dies, his or her Bitcoin does not die with him or her. That is very clear and obvious. So regardless of whether the family members that the dead person left know of his or her passwords and private keys or not, the Bitcoins that he or she owned remains there. However, it might not be retrieved anymore. It may be lost to the family forever but it remains in existence. The total supply of Bitcoin will not change nor be affected by this.
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 if bitcoin owner die the bitcoin also lost no one can stole the bitcoin even though a family friend relatives or anyone 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?
The dead bitcoin still exists, but it won't change again, because no one can move them from wallet to wallet. It is said that 300W of BTC has been lost.
I don't think it is lost forever for sure at least one of the member of the family knows where he/she saved the password and the private key .
Well it is depend upon the situation, many people using bitcoin now, if owner die nothing will change at all, bitcoin can't easily die.
If something bad happening to bitcoin owner , it means that bitcoins can't be used without access to owner's wallet. Unfortunatly mostly people who using crypto not sharing passwords.
How would it be possible that a bitcoin owner will not share his private key or password to any members of his family and just leave it there until he dies. This for me is pathetic.
Most of people is selfish.Well maybe they will show some but the others are hidden.
If you have a wife and she's the one responsible for budgeting the money, when she knows that you keep something most of the time she will get it.
Well except if your family is very open to each other that they will not keep secret from each other.
If something like that happen, that suddenly the bitcoin holder dies and no one knows about his wallet credentials then i think it will be forever lost.
It becomes sad when you realize quantity of the bitcoins lost forever... Make backup copies, write wills, think of the future
Probably. That's the most logical event I can think of once bitcoin owners die. It usually is encrypted to the teeth so no one can access it. Companies might even still have access to it, which I hope they do, so they can recirculate the bitcoins back to the main circulation.
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