when a person dies stays in his wallet his earned money and nobody can get it unless there is a private key left over that the money will be claimed by your family.
Topic: What if a person died with BTC!! - page 15. (Read 2250 times)
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.
if a person dies, his bitcoin just stays on his wallet and no one has access to it) unless of course he left someone with his private key! so the number of bitcoins will be gradually reduced) deflationary coin, there is nothing more to say! 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.
So, what is the problem. If you believe nobody, no one know about your digital actives. We will see coins of dead person in blockchain, but can't use it.
Solution of problem is the last will. You should bequeath your coins to friends and relatives. In another case, the BTC coins will be lost forever.
Solution of problem is the last will. You should bequeath your coins to friends and relatives. In another case, the BTC coins will be lost forever.
If the wallet wasn't shared, or preparations made for it, then those funds would be lost signifying a reduction of the total coins in circulation. In practice this would mean each active holder would now possess a greater part of the total, with this competitor removed.
A copy of seeds should be stored where the close family can have access. Otherwise these BTC will be lost forever - and benefit the rest of the people as price will rise...
I think Bitcoin is an inheritance property and is definitely written in the will of the family. wallet and passwords are there.
Dieing with BTC is like hiding a treasure somewhere without the knowledge of anyone, that treasure is lost forwver. Same with BTC, except you give someone your details to claim your BTC. Maybe trusted member in your family or you write it down in your WILL, that way someone can claim the BTC else your BTC is lost
Hi I'm a newbie. I think the bitcoin will disappear if the owner is dead.
At the moment none of my family members know anything about bitcoin at all and it would be sad if something were to happen to me and they wouldn't know anything about the money i have in my wallet or how they would be able to reclaim or even cash it out.
This is a very important question, what happen to you bitcoin in your wallet when you die without reveling the wallet ID and password to any other person and it is impossible to make use of the bitcoin by any other person as long as it will last the coin will just be there dormant and this have grave effect on bitcoin in the sense that many bitcoin are waisting without trace.
well honestly to say that if it happen that someone die with his/her BTC wallet privet key, it won't be possible to excess his/her account and rescue it from there.So i think it is our responsibillity to make a paper wallet of our cold wallet and give a copy to your loved ones as a backup/nominee.
Yes it is very unpleasant for relatives who will not be able to obtain an inheritance. For MEW, there is an extension that transfers funds to another address after a certain time - MyWish Token.
For now, the BTC amount the person had, will be lost. Many people also lost their password to their BTC wallet along the way, meaning these coins can also not be recovered. Overall, you should make sure, that someone you are close to (family, wife/husband, etc.) can retrieve the password just in case.
There was some speculation, that once quantum computing is available, all kind of passwords (banks, internet, and even BTC keys) could be retrieved in a fast way due to the increased computing power. Hence, sometime in the future, it might be possible, that people will "search" for lost wallets to retrieve the key.
There was some speculation, that once quantum computing is available, all kind of passwords (banks, internet, and even BTC keys) could be retrieved in a fast way due to the increased computing power. Hence, sometime in the future, it might be possible, that people will "search" for lost wallets to retrieve the key.
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 person has his/her details of wallet and exchanger info, such as password email addresses and private key saved on his/her computer.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.
like me it is saved on my computer way down on some folders which is hard to see by any other even they used my computer, though i have some notes left for my wife or my children to see it once something happen to me,
the bitcoin or any crypto on his/her wallet will not be gone nor isolated as it will remain on that wallet for the rest of the time.
I leave all my passwords and private keys inside a compressed file, maybe it will be missing.
Well, there will be 4 million btc missing due to lost private keys, lost wallet, people died, etc and those will be never recovered.
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.
Well if that person didn't have the foresight to trust family members about his crypto assets, then all his btc will surely be buried with him. That's one of the risks as well if you're going to entrust all your private keys and passwords but better to educate your family about btc first
If someone died with Bitcoin, let's hope they left their private keys to someone. I feel people should treat it like any other important asset and leave it to someone just in case anything happened.
thats a good question
i think that if a person die and they dosn't told anyone about their private key, then their bitcoin will be buried with them. So I think you shoukd share youre private key to your family or secure you private key in a treasury then give the key to your wife and tell her to open it if you died. in that way yiyr famiky can benifit from it when yiu die
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