Topic: What happens if we die? - page 11. (Read 5626 times)
IF some day one who holds many bitcoins dies, in such a case those who get his private keys will be able to get the bitcoins or else if that private key got deleted means those bitcoins will be lost forever as no one will be able to access the bitcoins of the deceased person unless and until if he shares his private keys to close associates or family members just in case anything happens to the bitcoin holder some one else should get to use his bitcoins. Due to increase in the number of bitcoins users the prices will keep on increasing and the lost bitcoins will be lost forever if the bitcoin holder dies with his private keys.
It is a good question raised by this fellow, our private key and all our information can b known to our next of kin because death is inevitable so that we will not lost even after death
This fellow was actually wondering about the economical consequences of cryptocoins disappearing slowly, but nobody seems to give a shit and doesn't even bother reading the other posts and replies in this thread, clearly stating it's about ECONOMY and not about your will.
Of course you need someone to have access to your keys if you don't want your coins to be lost. We really don't need 10 frigging pages of posts to figure that out.
But WHAT ARE THE ECONOMICAL CONSEQUENCES IF THESE COINS GET LOST SLOWLY?
I hope it will be clearly readable now.
Mental note: never forget to self-moderate topic again.
Personally, I have long thought about what will happen to my coins after that when I no longer will be in this world! and therefore, despite my son for 10 years, I personally teach him everything that he after my death owned all the information and managed coins in the future to support his family in the future and his mother! so that life seemed to them easier and nebylo needs! this will be my will for them !!!
yes you are right bitcoin you have will be stored in wallet that you have for eternity because nobody can access or go into your wallet, but it seems if stored in place of exchange maybe it can be peroses from family concerned.
It is a good question raised by this fellow, our private key and all our information can b known to our next of kin because death is inevitable so that we will not lost even after death
death is inevitable, it can come anytime. soldier go soldier come barracks remains. not everyone that knows the beginning of bitcoin will know the end. all those that are foreseeing the death or the permanent crashing of bitcoin are just wasting their time. bitcoin can never die, rather it will gather more strength and break more grounds.
that will happen if you die and the assets you have no one knows and no one can access unless only you seem to have assets that you have will be a treasure that can not be solved by anyone.
Sometimes I also think of things like this ...
it looks like we should really have a reliable partner ...
for now it's just one way to solve this problem.
it looks like we should really have a reliable partner ...
for now it's just one way to solve this problem.
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?
There is so called will and testament I thought so. If anyone dies and if that dies wealthy or somehow having some treasures like bitcoins, it must be at least been settled on a legal matter like having it documented on a Will and Testament. You wouldn't want your wealth just turn in to dust when you have gone suddenly. You have your family, your wife/husband or children who at least you let them know your passwords or important matters just in case something happens to you. Just my opinion or suggestion.
If you die when you hold bitcoin in your wallet and without sharing your privacy key to anyone it will be gone forever. Therefore you must prepare everything for the future.
You are cerrainly right about tagt point. If the holder disappear without entrusting his or her private key to someone then it will just become a ghost money.
If one dies and no member of the family has no access to the private key and password then all your years of investing and investments will go down the drain thats why its advisable for atleast a member of the family who is responsible enough should have access to it or better still there could be a written will for it else all your investments are gone.
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?
Yes, it will be a complete failure. At me all passwords are ciphered and anybody except for me will not understand that to what.
If you die when you hold bitcoin in your wallet and without sharing your privacy key to anyone it will be gone forever. Therefore you must prepare everything for the future.
Every one will be do not know when he will be die, die is never care about you are healthy or not. You can faced die without you know when is happen to you. For bitcoin member have to do something to face die and take care about bitcoin wallet, some people have bitcoin more on their wallet but he talk to his family about his bitcoin. give your family data about your bitcoin to take care something bad happen to you.
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?
This happens every day actually, people loosing their private keys, sending bitcoins to another coin address, and simply being hacked.
I doubt that there ever be 21M of bitcoin circulating, some wallets have thousands of bitcoins for years now, and no movement at all.
So, don't loose your private keys, always double check where and how much you send, to avoid loosing any crypto at all.
I think your bitcoin is gone forever when you die. Even several bitcoin have been lost by people who are still alive but misplaced their wallet security. I just read about a wallet with 103 bitcoin whose owner can't access due to missing private keys. Your coins will forever be archived by your wallet.
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.
I think bitcoin can't die maybe the word bitcoin can die but there are so many coins like bitcoin cannot be die in fact it is so hard do kill bitcoin easily.
All of us should be taught our children to manage our Bitcoin before we die. Because it is a valuable coin and profitable business and the most successful road to invest. So after I died I would give my ID this valuable ID in the hands of my generation.
As an investors that wanted to provide a better life of our family in the future we used to invest in high profit investment but sometime we may ask some question if what happens to our investment if we die, but all i can say that our investment is still be safe as it continue to rise depending on the market status and let's make ensure we provide the the private keys or documents to our trusted family members so they can continue to mange our investment once we die.
Agree, Let's just ensure that we provided the complete documents to the person we really trust because its very risky because it involves money that can be possibly stolen and benefited only by single or few person because cryptocurrency will never been lost as long as we have keys to do transactions.
All of us should be taught our children to manage our Bitcoin before we die. Because it is a valuable coin and profitable business and the most successful road to invest. So after I died I would give my ID this valuable ID in the hands of my generation.
As an investors that wanted to provide a better life of our family in the future we used to invest in high profit investment but sometime we may ask some question if what happens to our investment if we die, but all i can say that our investment is still be safe as it continue to rise depending on the market status and let's make ensure we provide the the private keys or documents to our trusted family members so they can continue to mange our investment once we die.
Jump to: