If the bitcoin holder dies - page 3.

Laodungchun

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Activity: 99

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Quote from: udayantha11 on December 21, 2017, 08:18:25 AM

Dear team

I need to know that if a bitcoin holder dies with 100btc. Then what happended to btc ? Useless
If family member knows no problem. What if not

The Law Society is urging people to leave clear instructions for their intellectual property and digital media in case of death. Most of the digital legacy people leave behind when they shuttle off this mortal coil has sentimental value – it is not something that can be appraised or valued in hard cash.

Drnice

sr. member

Activity: 588

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Why will you say something like that, if one is I'll, he will have to sell his precious coins for his life, cause when there is life then there is hope. The bitcoin will not be touched if it is in a hardware wallet, but if it is not, then it will be a place for the price to be at a high price, except some of his family members has the details of it.

bryant.coleman

legendary

Activity: 3724

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Quote from: udayantha11 on December 21, 2017, 08:18:25 AM

Dear team

I need to know that if a bitcoin holder dies with 100btc. Then what happended to btc ? Useless
If family member knows no problem. What if not

Well, if he has not shared the private keys with anyone, then the coins will be lost and no one will be able to retrieve them (at least with the current technology). If some one could find the recovery sheet, backups, or even hints for passwords, then there is a chance that the coins could be recovered and transferred to the relatives.

thenameisjay

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Activity: 462

Merit: 100

Quote from: udayantha11 on December 21, 2017, 08:18:25 AM

Dear team

I need to know that if a bitcoin holder dies with 100btc. Then what happended to btc ? Useless
If family member knows no problem. What if not

No one will ever have access to that 100 bitcoins. It's virtually gone forever unless someone actually knows the encryption password or if it's easily accessible to any other family member. I doubt any family member would even give a damn about his/her wallet so better to inform them the worth of those bitcoins.

mrayazgul

hero member

Activity: 560

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Quote from: udayantha11 on December 21, 2017, 08:18:25 AM

Dear team

I need to know that if a bitcoin holder dies with 100btc. Then what happended to btc ? Useless
If family member knows no problem. What if not

Well to access you wallet you need a Private key and password. As Name is displayed "private" which mean its your personal info and not share with any one. If no one know the password, your private and you dies. Then nobody can access your wallet. It will waste forever. Better to share your key and password with anyone you can trust maybe your spouse .

olubams

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Activity: 798

Merit: 503

Quote from: ashfer on December 23, 2017, 02:07:12 AM

If the btc holder dies without passing any information about their btc to the nearest family member all the btc will stay as unused as a frozen coin.Unless a hacker hack in a steal the coins it remains as it is.If you want your family to enjoy the profit even after you pass away it is better you pass your private key information to someone you trust from your family so that they can use it even after you are gone.Or maintain the records in your safe locker for your family to use.

I don't even understand the whole controversy in the issue of someone dies with btc. Of course nothing will happen. Its just like a normal human being who kept his fund in a hole that is only known to him then he dies, nothing will happen to the money other than it rusting away but in the case of bitcoin, we see its in the wallet, but no one can access it. Just as simple as that.

nemesis_

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Since all bitcoin a person have is secured by private keys, nobody will have an access to it and probably be useless. Unless, that person shared his private key to a trusted relative or friend then it will be accessible and will be in use.

cloudbleron18

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Activity: 203

Merit: 10

Quote from: udayantha11 on December 21, 2017, 08:18:25 AM

Dear team

I need to know that if a bitcoin holder dies with 100btc. Then what happended to btc ? Useless
If family member knows no problem. What if not

If the bitcoin holder dies,that was a very defficult to happen but maybe there will be a substitute for it.maybe when thats happened there is someone to continue bitcoin.if theres someone that has a lots of account the best thing to do is share their private key to someone who was responsible also to bitcoin or i mean,one of the stock holder.

bitcoinerjawa

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Activity: 364

Merit: 10

Quote from: udayantha11 on December 21, 2017, 08:18:25 AM

Dear team

I need to know that if a bitcoin holder dies with 100btc. Then what happended to btc ? Useless
If family member knows no problem. What if not

if the bitcoin in his virtual wallet is dead then the wallet will still contain bitcoin and nobody can open it because only the owner can open it while the owner of his wallet is dead. then it will be a treasure, LOL

sirenmoon

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Activity: 121

Merit: 13

That would be very unfortunate situation cause with the death of the bitcoin holder there also comes the "death" of the wallet. If the user has not stored his private key anywhere or trusted his wallet belongings to anyone the wallet will be forever lost in the wastes of the internet. If someone has a lot of the Bitcoins the best thing would be to share his private key with someone of importance, maybe not the private key but the storage of the private key. The best thing would be paper storage for the private key.

bocyaj

sr. member

Activity: 1313

Merit: 302

Quote from: zolfa on December 23, 2017, 05:00:51 AM

it will disappear all, and your family can not enjoy bitcoin. then I suggest that you inform your bitcoin to the family. so that, when you die, you will inherit the bitcoin.

What you will do If you inverse in any Market trading??
You will share the knowledge of that to your family members and friends Right.So as like that you need to inform to your family members about bitcoin investment .Because you had invested the hard earned money in Bitcoin.Even if you die,your son or daughter will use of that bitcoin for their expenditure in future.

zolfa

member

Activity: 518

Merit: 11

it will disappear all, and your family can not enjoy bitcoin. then I suggest that you inform your bitcoin to the family. so that, when you die, you will inherit the bitcoin.

yusupjatigumilar

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Hence something we do must be known by our families that we believe because when something happens to us at least the family can know and find a solution, as well as bitcoin, if bitcoin holder dies then the bitcoin can not be used unless there is a family or heirs who know the username and trading account password of the dead holder.

ttlnnt

full member

Activity: 145

Merit: 100

Quote from: paolo099 on December 21, 2017, 08:34:59 AM

if nobody knows about how to get into the wallet (password, private key, etc.) these BTC are gone, nobody can get it.
That's why if you hold a good amount of BTC you should have trusted friend or family member to have all the information to recover your coins, but this would happen also for your bank account, when you're gone everything's coming with you, in the /dev/null

Absolutely!!

It's prudent to keep a trustworthy person as your secret keeper. Otherwise all your wealth is gone!!

ethereumhunter

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Activity: 2912

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Leading Crypto Sports Betting & Casino Platform

the bitcoin will be staying in the wallet unless his family know the private keys and know how to use it. but if there is no one knows then the bitcoin cannot be used by every people although he knows the address. I think if we want to give our bitcoin, we need to give all info that we have to someone then they can get access to our wallet and maybe they can use it for good things.

rockem5

member

Activity: 69

Merit: 10

Antifragile

i've read in the past that a dude made a certain script that sort of asks the owner if he's alive like every month. and if he didn't reply after a few months, the keys would automatically be sent to a certain relative. cool stuff.

Baimovic

full member

Activity: 1210

Merit: 100

if no one else knows, and all his family do not know, then they will not get bitcoin. then the solution is to inform about the bitcoin you have to the family. they deserve to know it and get bitcoin when the owner dies.

TWagner92

newbie

Activity: 85

Merit: 0

Of course no one can touch it. It can't be mined or be owned by someone. Although it can be hacked. Aside from that there is no way it can be used it will be lost forever.

LogitechMouse

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If anybody the holder trusts gave the private key or the passphrase or the password into his/her bitcoin then that person can withdraw it and convert it into fiat money. If the holder doesn't gave its private key to anybody, its either someone who knows about bitcoin will search in his/her device where he/she logs in his/her account or if nobody can then that bitcoin will be lost FOREVER.

Marry Finch

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Activity: 364

Merit: 101

If the bitlocker holder dies without leaving anyone with information about passwords and secret keys to access these bits, they remain encrypted in the blockchein block chain. However, we can not say that they disappear forever. They stay there until someone chooses a digital password and opens access to them. While such a technological opportunity does not exist. However, quantum computers may soon appear that can pick up digital keys of any complexity, including, to my knowledge, passwords of this level of complexity. That is, in the future there will be an opportunity to gain access to lost bitkoynam. However, this new technology poses a potential threat to the safe existence of crypto currency. How to solve this problem, while it is difficult to say.

Topic: If the bitcoin holder dies - page 3. (Read 856 times)