Topic: What if a person died with BTC!! - page 16. (Read 2293 times)
Will ,if a person died with bitcoin,his or her bitcoin will still in their wallet,no one can claim and use it unless there are person or their family know their password,email,private key and evrything just to open his/her account.
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. I think it is not necessarily to let your family knows about your online wallet because even they know about our online wallet they haven't still know how to use it and if we died accidentally then we are nothing to do about it. That is our destiny we can't stop that moment and much better to forget all we have while we are still on earth so that there will be no problem to be facing off.
I think BTC will be like "money" deposited in the bank, when the owner dies, the bank will claim the belongings of the owner if ever there's no one the owner passes onto. I think the founder of the wallet websites can collect it maybe ?
Well since bitcoin is a large amount of money i think those people who have bitcoins will entrust their private keys/passwords to someone they love. It can be used for their future when that person died.
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 died and that person is actually owning bitcoin then that bitcoin can be gone forever, if someone knew the log in details on that persons account then it can be acquired but without it all the bitcoin will be stack in that address.
I think it is quite dangerous if you have a sudden death. no one can access your money anymore and I think it should have already happened somewhere in our world. It is quite an important question to answer if we really want to make bitcoin as the storage medium for our life saving.
Unless they share the secret (info, keys...) with someone, the 'crypto' asset will be lost with their death!
Maybe keeping the info on a piece of paper that their family can find
Maybe keeping the info on a piece of paper that their family can find
Fortune magazine recently had an article about this. It's a good question. I keep access to my accounts an encrypted database. My wife doesn't have the password. But I think I'll make a copy of it that she can keep on her encrypted database.
http://fortune.com/2017/09/26/cryptocurrency-bitcoin-death/
http://fortune.com/2017/09/26/cryptocurrency-bitcoin-death/
While I red this question I remembered the same article
At the moment, there are ways to save currencies even after death
If a bitcoin holders die then his bitcoins will also dies if he dont share his password or private key to unluck his account and spend the bitcoins and also it will greatly affect the circulating supply of bitcoin if those coins wont be spend, completly lost or will be useless if you will die your bitcoin wallet password and You must notify your passwords with your friends or your parents.
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.
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
When you own any kind of cryptocurrency, the responsibility of its management would solely be on you, the owner. I guess if a person dies having Bitcoin as one of his/her fortune, then he/she has definitely has the right to dictate what actions should be taken with the left possession. If a person dies without leaving his/her password for the wallet, then that just means you can't do anything about it but keep it there. However, if the person decides to put it on his will and not leave the password, then that's when you can worry about cracking his/her wallet open. I guess this is where laws should also come in regarding the handling of Bitcoin since it has so much value. It's safe keeping should be taken note off when its owner passes.
I would recommend writing your passwords in a secret book and storing this book in a vault at home or at the bank (I know.. the bank, ironic right) together with a USB disk containing the backups or your wallets. Explain everyting to your spouse, make like a short illustrated tutorial on how they can acces everything and sell everything. This way you have created a will for them without the need of a notary. Keep your cryptos safe guys!
This is a great question. Have you guys even thought of that? This will most likely decrease the circulating supply of bitcoin and of course, this will happen more and more (including those were sent to a wrong address) and might affect the price. As for the bitcoin, then it will not be more accessible.
I think people should seriously start thinking about how they will leave their bitcoin and crypto to their family if anything happened to them, in the same way one would leave a will, perhaps leaving the private key within the will might work?
yes, I agree with you, better than now we tell our family, before death fetched. so that later they can keep our bitcoin.
Many people lost their Bitcoin wallets addresses even before they died. Smart people will leave their addresses to their child, or they'll just add it to the boquest.
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.
Evryone wants to keep their btc safe in their wallet and thats why they dont share thier passwords and keys with someone and if that person died the money is also gone but its safe in the network until someone has acess to it but this is a good question so if we have our amount in btc we must have someone with the encrypted hard copy so that they can use after it for their betterment but choose that person carefully. 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.
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.
Then the bitcoins will be lost forever. No one will ever have access to those bitcoins. It won't join the circulation and reach places where it should be reaching. But I bet the losses here are very small. People nowadays make contingency plans in-case they die and want someone to inherit their digital kingdom.
I believe no one dumb enough to let that happen if they have a massive amount of Bitcoin. They will just simply make a testament letter to their family to handover the Bitcoin amounts.
Some people will say that is a dumb decision. I think if we look at the general public finding their way into Bitcoin nowadays, they are more likely to do so than the long term hodlers of way back.I seriously can't think of a situation where I will allow any entity other than myself to have access to my private keys. If you want to set up a testament, anyone has to somehow have access to your private keys.
Another possibility would be multisig, but then you still always need to sign in case funds need to be accessed, where otherwise you can just hand over your private keys to people, which would save them some hassle.
Unless he or she save the information or he or she gave the information in their family or in their friends
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