If the bitcoin holder dies - page 7.

TopT3ns

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Quote from: udayantha11 on December 21, 2017, 07:18:25 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

then it is gone, stuck forever in that wallet account. that is why some project see that case and create project to help with it. like Wish, not gonna promoted because their ICO is already over but their project is to solve problem like this

DjTremor

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Quote from: udayantha11 on December 21, 2017, 07:18:25 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 you're the only one having your bitcoins, they get lost forever in this case. It's not possible to recover them without knowing the necessary information about your wallet.

Kidmat

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Quote from: handsomes on December 21, 2017, 09:02:18 AM

maybe the transaction will be stop because there is nothing to operate or hold a bitcoin and can permanently lose it.

Yes this is what I understand, once the person dies and no one knows his personal or private keys of all his wallet. Obviously no one can access the wallet and cannot transfer to anyone unless atleast one person knows all his private keys.

handsomes

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maybe the transaction will be stop because there is nothing to operate or hold a bitcoin and can permanently lose it.

XaurumGamma

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Then nobody can have this btc... lost forever if no privat key

Findingnemo

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Bitcoin = Financial freedom

Quote from: udayantha11 on December 21, 2017, 07:18:25 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 someone dies then we need the private key of his wallet to access the bitcoin or else there is now way to use it.it will be buried with the owner.

HackS

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Quote from: Slow death on December 21, 2017, 07:56:08 AM

Quote from: Zakhal on December 21, 2017, 07:19:47 AM

He will take them to the afterlife and be rich there.

hahahaha

good joke, you knew that in the earliest times there were cultures that where when someone died, they buried this person with their belongings.

This is a very serious concern. When someone dies it becomes something very problematic because besides the lack that this person gives us we have to deal with the goods that this person who died left. the banks take a lot of time to give the insurance values and there are more others bureaucracies involved. If you want someone to benefit from your bitcoin after your death, this person needs to know that you have bitcoin, your password and private keys. But you do it this movement (tell someone that you have X bitcoin, give your password, give your private key) you are at risk of being robbed. Unfortunately in today's world even the person you love the most in the world can fool and steal you. So the question you should have is:

when is someone trustworthy enough to give pasword and private keys?

anyway devs should also think about connecting wallet to sim , something like credit card (and I know that is insecure and big project)...

oegarod

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If such a situation prevails this will go unused until an user has informed to a person who is a relative to him or the one who is close to him. The value gets added to the total number of bitcoin into circulation. This won't affect the growth of the cryptocurrency network.

HackS

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Quote from: okissabam on December 21, 2017, 07:44:24 AM

Most probably he will take it to his grave and the btc he has will be gone with him as well not unless a great hacker could hack his wallet address. It will stay where he has it secured and if he has not told anyone about it then yes it is considered dead too.

That's not allowed even in that case , anyway some of relatives should know his mail .. You know the rest. Tongue

(anyway who ordered kill hahah)

datodota002

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Quote from: udayantha11 on December 21, 2017, 07:18:25 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

That's a very good idea. katena could be the one who died is merupaka n people who hold half of the world bitcoin population. it will be a serious problem and will greatly affect the bitcoin price.

BitcoinHodler

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HODLing is an art, not just a word...

if you don't own 100BTC yourself then you don't need to worry about those who do have that much. because someone who owns $1,600,000-$1,700,000 with the potential to be worth $2 mil, will surely know what to do with it and has made the arrangements already. unless they are ignorant of their family or if they think they have bitcoin nodes in afterlife too Wink

Marco Ambrusini

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If no one is aware about it then its really gone for good with the deceased.Eventhough private keys and back ups are suppose to be the topmost secret its advisable to atleast give backup to your closest relation just incase of any uncertainties

HackS

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Quote from: kingragnar on December 21, 2017, 07:58:42 AM

There is a possibility that a bitcoin holder may have died of 100BTC. If I have such a large amount of money I will let my parent know my account and password, private key, etc and what they will do for this money will leave me a note on how they will be able to allocate this money and this way I'm happy even when I'm dead or so madly. It can help your parents and your children if you have a family. Hopefully I will not have 100 Bitcoin so I will not die. just i think

he was talking about some greedy person who could farm that much and not share with family ( I can kinda relate to this story but nwm) anyway I wrote in previous post a idea about its distribution.

ylnar123

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Quote from: udayantha11 on December 21, 2017, 07:18:25 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

There you have it. You just answered your own question. It is obviously useless if none of the family member knows about how to recover his bitcoins. So to prevent this from happening make a small diary and put all your info about bitcoin there incase you die with that 100btc.

paolo099

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Quote from: ronypro on December 21, 2017, 07:51:35 AM

Quote from: paolo099 on December 21, 2017, 07:34:59 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

No you are wrong here banks have a field for nominee ,so if you dead the funds goes to that person already mentioned at the time of opening a account.

well, if you have a nominee it works, otherwise if banks "really wants" to find somebody to send the money in the account it's a long process and is not free.
happened to a friend of mine when his dad died, there was no nominee and even though he demonstrated to be his son, the account was locked for ages, he needed a lawyer to be able to unlock the fonds in it.
That's at least what can happen in my home country.

HackS

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Quote from: udayantha11 on December 21, 2017, 07:18:25 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

That is good question I think that dev should make some kinda of wallet deactivation after few years of no transactions or inactivity ,and distribute them in community. I think that would be fair.

udayantha11

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2023 would most likely be as bearish as 2022

Quote from: Slow death on December 21, 2017, 07:56:08 AM

Quote from: Zakhal on December 21, 2017, 07:19:47 AM

He will take them to the afterlife and be rich there.

hahahaha

good joke, you knew that in the earliest times there were cultures that where when someone died, they buried this person with their belongings.

This is a very serious concern. When someone dies it becomes something very problematic because besides the lack that this person gives us we have to deal with the goods that this person who died left. the banks take a lot of time to give the insurance values and there are more others bureaucracies involved. If you want someone to benefit from your bitcoin after your death, this person needs to know that you have bitcoin, your password and private keys. But you do it this movement (tell someone that you have X bitcoin, give your password, give your private key) you are at risk of being robbed. Unfortunately in today's world even the person you love the most in the world can fool and steal you. So the question you should have is:

when is someone trustworthy enough to give pasword and private keys?

Yes indeed. I completly agree with you. If we give a private key to somebody that love most. They also can be stolen btc

kingragnar

full member

Activity: 294

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There is a possibility that a bitcoin holder may have died of 100BTC. If I have such a large amount of money I will let my parent know my account and password, private key, etc and what they will do for this money will leave me a note on how they will be able to allocate this money and this way I'm happy even when I'm dead or so madly. It can help your parents and your children if you have a family. Hopefully I will not have 100 Bitcoin so I will not die. just i think

Slow death

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Leading Crypto Sports Betting & Casino Platform

Quote from: Zakhal on December 21, 2017, 07:19:47 AM

He will take them to the afterlife and be rich there.

hahahaha

good joke, you knew that in the earliest times there were cultures that where when someone died, they buried this person with their belongings.

This is a very serious concern. When someone dies it becomes something very problematic because besides the lack that this person gives us we have to deal with the goods that this person who died left. the banks take a lot of time to give the insurance values and there are more others bureaucracies involved. If you want someone to benefit from your bitcoin after your death, this person needs to know that you have bitcoin, your password and private keys. But you do it this movement (tell someone that you have X bitcoin, give your password, give your private key) you are at risk of being robbed. Unfortunately in today's world even the person you love the most in the world can fool and steal you. So the question you should have is:

when is someone trustworthy enough to give pasword and private keys?

ronypro

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Activity: 110

Merit: 10

Quote from: paolo099 on December 21, 2017, 07:34:59 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

No you are wrong here banks have a field for nominee ,so if you dead the funds goes to that person already mentioned at the time of opening a account.

Topic: If the bitcoin holder dies - page 7. (Read 886 times)