What if a person died with BTC!! - page 10.

Asuspawer09

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Quote from: rddsd7 on December 08, 2017, 05:38:26 AM

What will happen??

No one will have the BTC address. Hence will them isolated?

In FIAT, people can handover money to someone.. So, i predict BTC will be disappeared gradually.

That is a very good question, unexpected death of a bitcoin user. Then, you have to be ready and I suggest to store some things in case of these scenes. One thing is a notes of those accounts. Aside from the materials you use for your transaction you have to jot down the things to get it from, even a step by step if none of any person you want to live those know how to. The accounts can never be opened by anyone and no one of the people behind the system know about you and what just happened to you to do an action. Therefore your bitcoin will still be in case.

JohnnyCashers

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Then it will be lost forever if he didn't pass on his password to someone. Lips sealed

bitfornewbs

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It's better to take insurances. Having a good security of our credentials is definitely good but we should also take a step in making those accessible for the one we trusted in life. Simple writing on a piece of paper and keeping it somewhere safe is okay. If ever we die at some point while holding bitcoin, we can entrust those to our relatives so that they will take benefit of that amount and will continue to help them even if we are not here.

edzquimno16

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Quote from: rddsd7 on December 08, 2017, 05:38:26 AM

What will happen??

No one will have the BTC address. Hence will them isolated?

In FIAT, people can handover money to someone.. So, i predict BTC will be disappeared gradually.

BTC is an online currency, if the person dies no one will make use of it unless he/she shares he's or her informations on BTC then that is when he can have a successor of his or her BTC wallet. It is just like having a physical property were you decide where or what will you do on your properties when you die, but just like any other properties as well it can be stolen from you from people who knows your secret files or in BTC, your BTC wallet account infromations. Hope this helps!

handini

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Quote from: Jedie22 on December 30, 2017, 07:05:21 AM

Quote from: vickycoin05 on December 28, 2017, 12:32:56 AM

The best way to do is to let your love ones or a trusted person know your private information to access your account so that if you will died they can still access your account to cash out the money and add on for the expenses of your family's daily consumption or you will continue on what he/she been started to continue financial aspects as the way of income.

You're right bro, the private credentials of the person who died should give to the trusted person in order the bitcoin will still be part of the circulation in the network because if the bitcoin can't be accessible it will stocked forever in the network which will never be used as a part of the circulation of the bitcoin. Hoping that all of us here in the bitcoin community will give their credentials to the trusted person so that if the users will died it can still be accessible and part of the network in the bitcoin.

yes it is, for every anticipation, we better do the best thing is to divert hands to our brothers so that all can be resolved, because every life is not always there continue, sometimes also fate can be different.

Jedie22

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Quote from: vickycoin05 on December 28, 2017, 12:32:56 AM

The best way to do is to let your love ones or a trusted person know your private information to access your account so that if you will died they can still access your account to cash out the money and add on for the expenses of your family's daily consumption or you will continue on what he/she been started to continue financial aspects as the way of income.

You're right bro, the private credentials of the person who died should give to the trusted person in order the bitcoin will still be part of the circulation in the network because if the bitcoin can't be accessible it will stucked forever in the network which will never be used as a part of the circulation of the bitcoin. Hoping that all of us here in the bitcoin community will give their credentials to the trusted person so that if the users will died it can still be accessible and part of the network in the bitcoin.

vickycoin05

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The best way to do is to let your love ones or a trusted person know your private information to access your account so that if you will died they can still access your account to cash out the money and add on for the expenses of your family's daily consumption or you will continue on what he/she been started to continue financial aspects as the way of income.

Amanda Krause

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XWIN CryptoBet ICO 01/01/18

The family or other people can use btc with they have the access to the savings: password etc. But btc will be in safe

Pancheng

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Seriously.... I think if ???you have enough Bitcoins in your accounts...
Atleast if your married let your partner knows about it...
Nothing to do if your single..... Maybe you can try to trust your parents..... To give them your passwords...
Because if you die and you any know your accounts.... Then probably your accounts continues.... Until someone will notice that your accounts had been inactive for the last five years...... Then the management will do something about it... Grin

BeEvil

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Of course, it is should keep this in mind, and it is possible to store information and backups of wallets with instructions in an encrypted repository to which the family will subsequently have access. By the way perhaps in the future, computing power will allow access to the wallets of deceased owners.

crypto.cr

newbie

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never think like that !!! thanks for this question

I will make a copy for my wife and told her to save this carefully .. and also told it dont sell it if price dont touch 100k /btc Shocked

Mumbeeptind1963

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Sovryn - Brings DeFi to Bitcoin

Quote from: mutrang23 on December 24, 2017, 05:41:00 AM

Quote from: rddsd7 on December 08, 2017, 05:38:26 AM

What will happen??

No one will have the BTC address. Hence will them isolated?

In FIAT, people can handover money to someone.. So, i predict BTC will be disappeared gradually.

|I think the bitcoin number of that person can disappear in the right way. If many people who own bitcoins die, I think the amount of bitcoin circulating in the market is decreasing.

When I start use bitcoin I told to my family about it, and my mom know about it and my private key also my sister I teach her about it and how to use it. And if there something happen to me my sister will continue whatever my doing.

UAE Seasider

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Helios Protocol https://discord.gg/cpzAEMB

I have already thought about this issue and have created a safe envelope with important information to give to my family in case I pass on. Keep it in a safety deposit box or with a lawyer and treat it just like any other family valuables.

Spoetnik

legendary

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FUD Philanthropist™

Quote from: Ck1234 on December 26, 2017, 02:16:33 AM

I thought people who own Bitcoin live forever. Isn't that why there is this big craze right now?

No, No, won't ever happen.

It makes your penis longer too.

Oh and the guy on the right (Dave Kleiman) who was friends with Craig Wright was co-Satoshi.

And he is dead.

https://gizmodo.com/this-australian-says-he-and-his-dead-friend-invented-bi-1746958692

dimastegar

sr. member

Activity: 798

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Small Trader

Preparation needs to be done. We must think with various risks in the future as holders of assets in the world Crypto. Teach our tedekat (Dad, Mother, Brothers, Sisters, etc.) who can certainly be trusted to manage our assets, if we suddenly face death. Therefore, prevent better before it's too late.

KingOfWinterfell01

full member

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Unless that same person has a family or even a relative that knows or even have a smidge of knowledge about the encryption password, wallets, and address of this dead person, then they may access these and they can either continue on what the person left or sell it and use the money on something else. Otherwise, it's pretty much gone.

Ck1234

newbie

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I thought people who own Bitcoin live forever. Isn't that why there is this big craze right now?

No, No, won't ever happen.

Kalatas

newbie

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Merit: 0

Yes I share also the information about bitcoin to my wife if in case something happens she know that I have bitcoin already. That many people get money about that site.

futile-resistance

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Quote from: wildflower18 on December 18, 2017, 03:07:20 AM

Quote from: Boy0411Play on December 18, 2017, 02:59:41 AM

Depend if he/she has backup and someone know the backup it still can back but if he/she doesnt have backup it will be lost and you will never can get that bitcoin back

Yes it is still depends, so if a persons will died and love ones dont have a copy of a private keys all of your wallet of btc will also not open. We know we dont know whatever will happen on us anytime, so better save and let your family knows about your wallet.

That is so awful if someone put so much effort in earning bitcoins and he had a plenty of them and then immediately this person died of anything, these all bitcoins will be just wastage if he hadn’t told any person the private key of his wallet.

Such incidents have been seen on the news and this is happening with so much high rate. I don’t understand why people don’t trust their own families.

BitcoinPC

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If person suddenly die who have bitcoin, then if no one know about his bitcoin then on his computer his bitcoin always be save on it. If his family members know about his password then the problem will be solved. Otherwise his bitcoin always be remain in his pc.

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