Topic: What if a person died with BTC!! - page 13. (Read 2293 times)
Interesting. I think all of us who invest in crypto should come up with plans to allow our families to access funds. if not then why bother investing.
If no one has access to a wallet, the coins could be lost forever. I wonder what % of all btc is lost already
I think anyone who has invested a decent amount into crytocurrency needs to make sure that they've secured it safely and that they've provided a trusted loved one the ability to access that investment should something happen to you. I've shown my wife how to open and operate my hardware wallet and have written her the pin code and kept it safe.
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.
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.
If a person dies with Bitcoins and then he or she did not tell anyone about them, those Bitcoins will simply disappear just like that. And there are a lot of Bitcoins out there that ended up that way. Nobody knows they are saving some Bitcoins. Others may know but they do not know the details of where it is being saved and the details such as the address, private key, password, and so on. As compared to fiat, Bitcoins have the higher risk of being forgotten.
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.
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 his bitcoin will be disapear forever if he doesn't give the private key to his trusted person like his family...
it's better to save your data about your wallet to the safest place where your family knows
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.
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 his bitcoin will be disapear forever if he doesn't give the private key to his trusted person like his family...
it's better to save your data about your wallet to the safest place where your family knows
It is always advisable to hand over your bitcoin wallet details to your trusted friend, wife, or anyone else because if anything might happen they will know where to look for your assets.
That is right when you are dead and nobody knows that you have a bitcoin since you are keeping this from them then your savings will become useless, so better to have a simple note in your email where in your wife or children/family member knows. Don't be too greedy not to let them know. 
It is always advisable to hand over your bitcoin wallet details to your trusted friend, wife, or anyone else because if anything might happen they will know where to look for your assets.
that's a bad vision that I have a dead person about bitcoin, just because I'm losing his bitcoin and killing him and I also think you're dead person and then you have bitcoin and that bitcoin is just like money, you can it withdraws through the bank and it becomes money, but I think it's okay to do it because it's a workshop to earn more money than life is lost no way to get it back.
It's gone. I've told some of my family how to access my BTC - like a will, but not really. Loosely, if I die, speak to to my friend. If you speak to him, he will talk you through it.
Otherwise, like if you lose your key and then can't log in...you're screwed.
Otherwise, like if you lose your key and then can't log in...you're screwed.
You should always have your private key/ seeds saved somewhere private for relatives, and it could be included in your will as your parting gift to them. If not, then the BTC will remain in their wallet, without anybody knowing about it, or knowing about the password. Basically, the coins go to waste.
This is the reason why the number of true bitcoins is still less than 16 million bits. This bitcoin is largely lost due to forgotten wallets and bitcoin holders but has died and does not let anyone know his wallet. At present, bitcoin is really scarce, which is why it is increasing in price now and in the future.
Very good question....
I am working on a project called AFTERLIFE (L8RS)
I hope to publish a whitepaper soon with an ICO Q3 2018.
It is essentially a decentralised will writing service for cryptocurrencies.
If you die the coins/tokens will be held in escrow for a loved one of your choice.
It will cover most tokens and coins and we are looking at integration with other platforms (exchanges & wallets etc).
It will be easy to maintain and fully secure for you and your loved one/s (both sides of the system).
We have a unique set of parameters to determine if someone is no longer with us.
Watch this space!
I am working on a project called AFTERLIFE (L8RS)
I hope to publish a whitepaper soon with an ICO Q3 2018.
It is essentially a decentralised will writing service for cryptocurrencies.
If you die the coins/tokens will be held in escrow for a loved one of your choice.
It will cover most tokens and coins and we are looking at integration with other platforms (exchanges & wallets etc).
It will be easy to maintain and fully secure for you and your loved one/s (both sides of the system).
We have a unique set of parameters to determine if someone is no longer with us.
Watch this space!
I find this topic worth discussing for. Let this be a warning to all of us. We do not know when will be our last journey in this world, so, as early as now, we must have someone in our family to discuss with it plus a written private key hidden somewhere in the house so that when time comes that you are gone, and they will discover, all your efforts will not be gone with you.
I think if a person died with BTC, it will remain in his/her wallet since no one knows the private key or the password of the wallet. For as long as no one open the wallet it will remain.
If a Bitcoin owner dies without passing on the private key, his heirs may discover his wallet only to realize that they will never gain access to the wealth inside. To prevent this, the owner simply has to ensure that someone gets a copy of the private key by writing it down, storing it on a flash memory drive, or entrusting it with a commercial service that manages them.
yes, I agree with you, so she should leave a message or notify her family, so bitcoin will remain safe in her purse with her family.
In this type of case if the person had written his passwords and keys on notepad or may had saved somewhere online then the wallet can be accessed easily by his/her family member. Or else no one can access the wallet.
If someone dies with bitcoin it is definitely his bitcoin has no owner. And to solve that problem, it's better to make data about all your bitcoins on a paper and write them down there.
in my opinion, if someone has died and those who have been holding bitcoins, may or may they will hand over to his relatives to keep the keyword from the wallet they will submit
I was always wondering what if bitcoin will be a store of value in the future and someday all bitcoins will be lost :/.
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