Topic: What happens if we die? (Read 5626 times)
the coin will be impossible to retrieve unless someone in your family has the private keys. that's why this is important, share the private key to a trusted family member as a backup plan. we dont know what could happen in the future. having plan B's are good
Nope, this is no existential question (although...). Everybody's talking about "When will Bitcoin die", but what if you die, and your family don't find your key, or don't understand it, or think it's only a useless sheet of paper with some code on it, or simply throw it away... Does this mean the currency's gone forever?
I find the possibility of this event rather realistic (yup I don't believe in eternal life), so that means that someday there might be 21M BTC but only 18M (and counting down...) is left in the market?
I hope that bitcoin will never die, Bitcoin is a big help for people who need extra money but there's a possibility that Bitcoin can die but a lot of years that the best cryptos in cryptocurrency industry market. What happens if we die? there's a two places we're go if we die heaven or hell and believe it or not everything will fade away and earth will pass away no forever. I find the possibility of this event rather realistic (yup I don't believe in eternal life), so that means that someday there might be 21M BTC but only 18M (and counting down...) is left in the market?
Maybe Bitcoin needs a beneficiary option. Like any other asset you have you choose a person it will be passed down to in the event something happens to you.
for me each of us will someday die and if you are a person who has a lot of bitcoins, anyone will want to buy them. But if you hid all your keys in a safe place, then they will not get to anyone. everyone in my family knows I own bitcoins.So it's good to make a will with the private key that we have to give to people we believe if something happens to us later a good anticipation step.
Nope, this is no existential question (although...). Everybody's talking about "When will Bitcoin die", but what if you die, and your family don't find your key, or don't understand it, or think it's only a useless sheet of paper with some code on it, or simply throw it away... Does this mean the currency's gone forever?
I find the possibility of this event rather realistic (yup I don't believe in eternal life), so that means that someday there might be 21M BTC but only 18M (and counting down...) is left in the market?
I do not think that the Bitcoin number will be lost over time. Because Bitcoin owners will instruct their relatives how to sell or buy Bitcoin after they die. Bitcoin is considered an asset and the holder must have a way to not make that money disappear forever. I find the possibility of this event rather realistic (yup I don't believe in eternal life), so that means that someday there might be 21M BTC but only 18M (and counting down...) is left in the market?
Nah, crypto will not die. It is always possible that it turns into the penny stocks of trading but I also doubt that would happen. It has too much value and there are a a lot of great projects.
Nope, this is no existential question (although...). Everybody's talking about "When will Bitcoin die", but what if you die, and your family don't find your key, or don't understand it, or think it's only a useless sheet of paper with some code on it, or simply throw it away... Does this mean the currency's gone forever?
I find the possibility of this event rather realistic (yup I don't believe in eternal life), so that means that someday there might be 21M BTC but only 18M (and counting down...) is left in the market?
I find the possibility of this event rather realistic (yup I don't believe in eternal life), so that means that someday there might be 21M BTC but only 18M (and counting down...) is left in the market?
If it happens as you said, of course the bitcoin we have will not be usable and will be buried forever, unless your family understands it and knows the bitcoin password you have then they can use bitcoin you have and can do transaction on bitcoin that you have.
Everyone in my family knows I own bitcoins.So it's good to make a will with the private key that we have to give to people we believe if something happens to us later a good anticipation step
Yes it’s true, coins that have been lost or can’t be recovered will reduce the amount of the provided coins. But recovering the coins that have been lost will require a very long time if the miners are less. And in the end the coin will disappear slowly and maybe the stock will gone.
We can give our password to someone we trust.i think this is the only way.
Good one, I do think about this since I heard about a guy with 7000btc in his hard drive that got lost, the best is to have your private key writing down and also have someone to trust with it and share it with, like your children are good to have good talk with in terms of passphrase and password . And let them know the value of the coin, I think they should be aware since you are in to cryptocurrency and also know the value and you can always count on them because they are to inherit your asset.
each of us will someday die and if you are a person who has a lot of bitcoins, anyone will want to buy them. But if you hid all your keys in a safe place, then they will not get to anyone)
Though I do not have anyone that have access to my private key for now. I need a very trustworthy person to show such thing, I am working towards that since the person need to be blockchain oriented, can handle bitcoin transaction effectively and correctly without inviting a third party. I am teaching him that. I do not want all my digital asset to die any day I will die.
If you are wise enough of course you already know what will happen if die. You need to plan everything like message plan that if you die they will send your information to your loved ones.
I think nobody knows what will happen tomorrow, but we can insure ourselves by wise steps, such as teaching someone who is trustworthy who will be able to replace us if something happens to us.
If I die there must be a family that takes care of and gets my bitcoin account. Because in my family I'm not the only one doing bitcoin.
yes of course it will be stored in the wallet in vain, it might happen so we must take action now, if we have some coin in the wallet trust on friends or family to find out that coin coin is not wasted in the future.
This is a question for thought, like me, I have a sibling has the keys to my wallets and she too is into crypto so she understands.
Unless someone knows about your Bitcoin investment or has access to your laptop or smart phone I don't think anyone is ever going to be able to get your Bitcoins. They are going to be lost forever like the hundreds of thousands of Bitcoins already lost. If you have a large amount invested then you should consider putting your private keys in your will.
Even if a person is having just small amount of bitcoins, he should disclose the details to at least family person.
If bitcoins survived for next 50-100 years, price will be at least a million per bitcoin and that will be huge money for future generations also. I was watching a video where a old person kept shares of a company and the 3rd generation cashed it for millions. At that time, shares were issued on paper in my country.
What happens if we die if i die im older because no one will die except god spirit.
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