Topic: What happens if we die? - page 4. (Read 5594 times)
It's real. Already at the moment a sufficient number of coins are lost. I think that most likely, when bitcoin reaches its mark of 21 million, they will already be actually 18 million.
Easy to understand. your family never can get your money because security is the most important key of crypto. So,the best way is holding your password carefully. Store it in many hard drives.
It is simply as that! If we are died our bitcoin is still stored, no one can claim it without a private key. Maybe the value of your bitcoin will be doubled or triple with the capital, but it cannot be claim without it's private key. It is simple as that.Unless you trust someone you're close with to share your account details and private key so in the event of something happening that person will always have access to your BTC.
When I die, before that happens I will teach my children to manage my bitcoin. And I've done that to the right to continue my bitcoin that has been running.
It's better idea to teach our children in our one source income cause they know to work in bitcoin and also they how to earn money at there early age. And when the time if we die you cannot worry there future cause you train your children how to work and earn specially to work in bitcoin so that your children will continue your investment in bitcoin. 
Ohh you have a point, maybe it will become a treasure if no ones can get it? Hahaha. Maybe it will be advisable if your son will inherit your bitcoin and of course he can't do it by himself without a proper knowledge about crypto currency so its better to teach him.
Easy to understand. your family never can get your money because security is the most important key of crypto. So,the best way is holding your password carefully. Store it in many hard drives.
It is simply as that! If we are died our bitcoin is still stored, no one can claim it without a private key. Maybe the value of your bitcoin will be doubled or triple with the capital, but it cannot be claim without it's private key. It is simple as that.
there will be no BTC anymore 
Of course, when we die and our families do not know if we have an investment in bitcoin then we will lose all our assets and our family also can not inherit it. With a decentralized system to make the bitcoin can be controlled by our own so that our bitcoin will be immortal in the wallet without anyone can find it. So it can be ascertained if the market will play with less number of bitcoin, not to reach 21 million bitcoin. This will make bitcoin increasingly rare and sought after by many people.
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 agree to this because not all 21 million bitcoins circulate the pathways of blockchain. Many are lost due to unexpected events. But, befor I die, it is my duty to explain first how they can retrieve my cryptocurrency assets. Nonetheless, this thread is so negative and we must always spread positivity in this forum. 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?
What OP has stated is undeniably true.
That is why cryptocurrency holders must see to it that there may be people whom they could entrust their wallet with.
Despite how much we wanted to protect our assets time we come that we must leave this world.
And we should be ready for it.
That is why cryptocurrency holders must see to it that there may be people whom they could entrust their wallet with.
Despite how much we wanted to protect our assets time we come that we must leave this world.
And we should be ready for it.
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.
it's very difficult to turn off bitcoin because basically bitcoin is a tool for buying and selling, and everybody buys bitcoin to invest, and bitcoin will stay alive and become the leader for all coins. 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?
That is why you need to write it down in a very detailed manner, so your family can gain access to it and it would not go to a waste, or else it would be irretrievable for anyone. Yes, the bitcoin left on the market will be decreased if the bitcoins can not be recovered by anyone, but it will make the price higher as the number of bitcoin left goes down.
When you die, you will end up in a completely different virtual world than the one where there is now a crypto currency.It is true that we have lost a huge number of Bitcoins so far and hence as a user we should make some provision for the treatment of our crypto wealth after our death.
What will happen if we die? Who will inherit the bitcoin wallet or the altcoin? I would like to know if I do not exist whether the values I have gained from the bitcoin investment can leave my child?
I think this is a wonderful question that we can tackled now, The fact that it is an asset makes it easy to be transferable. It can pass from one generation to another once the proper access is granted
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?
Maybe you are right. If someone die and their wallet remain untouch, then the balance will sit there forever.
total supply may not change, but circulation will reduce eventually. I think the best way to prevent this is to store your wallet information,
and save it like a will for your kid or families or relatives.
I think you can write Bitcoin's private key in your will. If your family can understand what it is, of course, you have to explain it in advance, otherwise 100 BTC is also worthless for them if your family will not play cryptocurrency.
It seems to me that it will be difficult for the older generation to explain what bitcoin is and in most cases everyone will think that a person is a fool) especially in underdeveloped countries
I'm not afraid of losing BTC, my private key always stick on the calendar in the house. And my tip is that in the key sequence I changed the number according to my "lucky" number. I said that number to my brother (he does not know much about crypto but will not reveal the "lucky" number if I'm still living normal). So even though someone saw or copied my key but could not own the bitcoin because the alphanumeric key was changed.
well i think Then it will be gone forever. No one can access it since you or anyone who have access to it eventually die without formally transferring the knowledge he have. And it will affect the bitcoin available in circulation. It will be dead since no one can use it or retrieve it. So better thing to do is to teach your kids or anyone in the househould about bitcoins and That's really the reason why plans about their coin recovery in these situations are the reason for the forums. And right, when the end of mining is actually going to be lower than the total of coins it is moving
I think you can write Bitcoin's private key in your will. If your family can understand what it is, of course, you have to explain it in advance, otherwise 100 BTC is also worthless for them if your family will not play cryptocurrency.
This is a very interesting question. I care about this problem too. So I taught my parents to use my private keys and work with exchanges.
Jump to: