Hello
Most of the wallets are actually giving people an option to add someone of their family or friends to be passed on BTC when something happens to you.
Let me give an example of the wallet that am using.
The wallet that am using right now is : Zebpay and there few months before the wallet added Nominee option so you can just send them the number and details on the mail and the wallet company would give the custody of the wallet to the person who is noted down there, therefore for me I would ofcourse pass it down to my mom and therefore submitted her details and everything. But other than that there are wallets which do not have such options.
Well about the lost bitcoins I do think that you have to understand that these so called lost bitcoins would be actually sort of a stability option for us , the people won't be able to use it therefore it's not bad for us but ofcourse bad for the person. It would be a long term holding situation.
Topic: Random thoughts on future Bitcoin supply - page 2. (Read 296 times)
I am one of those who believe that Bitcoin supply in circulation can never be 21 million when it's finally mined. The reason being of lost Bitcoin due to inaccessibility from hodlers who might've died leaving no access to their wallets or those who are alive but can't assess their wallets. It's sour grapes if we put all that into consideration. On the second question, I think scarce supply will increase the demand and further drive price up. It's a win for early adopters who are still keeping their Bitcoin and also for the entire community.
It is inevitable, circulating bitcoin supply will be 0, in the far distant future.
I think around 20% of supply is already lost due to dust forever.
I think around 20% of supply is already lost due to dust forever.
What will happen to my bitcoin after I die? This is the question that comes to my head while I was thinking about my future, wealth, etc.
I don't hold lots of bitcoin; there are people who own thousands of bitcoin. What if they die suddenly without sharing anyone about their wealth? We have lost lots of bitcoin already from the circulation but after a decade or two, I guess the number of lost bitcoin will be huge. The supply of bitcoin is limited by nature. With the lost bitcoin, it's getting more scarce. At some point, after few decades, the supply will huge limited.
What effect do you think will it have on bitcoin? Certainly, you may think that price will be higher. Well, it will certainly but will it anymore be usable? With very much limited supply, won't it create disruption? Or, it will be as precious as diamond; I mean very much rare.
I don't hold lots of bitcoin; there are people who own thousands of bitcoin. What if they die suddenly without sharing anyone about their wealth? We have lost lots of bitcoin already from the circulation but after a decade or two, I guess the number of lost bitcoin will be huge. The supply of bitcoin is limited by nature. With the lost bitcoin, it's getting more scarce. At some point, after few decades, the supply will huge limited.
What effect do you think will it have on bitcoin? Certainly, you may think that price will be higher. Well, it will certainly but will it anymore be usable? With very much limited supply, won't it create disruption? Or, it will be as precious as diamond; I mean very much rare.
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