What if a person died with BTC!! - page 17.

BitHodler

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Quote from: vv181 on December 17, 2017, 07:33:14 AM

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.

merszxc

jr. member

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Unless he or she save the information or he or she gave the information in their family or in their friends

tigan_gangmei

member

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

Ahimoth

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Quote from: WannaCry on December 17, 2017, 07:45:38 AM

Quote from: rddsd7 on December 08, 2017, 06:38:26 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.

Once a person died with bitcoin, even if that person holds millions, I believe that there is no other way to retrieve what he earned. It will be hard for anybody if the deceased person is the only one who knows how to access all his addresses and accounts. Once a person died with bitcoin. his bitcoin will also engraved with him.

that person should tell to his or her family about bitcoin so that even though he die he will be a very big help to his family and it can be a source of income to his family it is good to know that and it is good for him to share it, because when we all died we cant bring bitcoin to our grave.

Ekanenf

full member

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Then all of his bitcoin would be gone for nothing just like him as well, unless somebody knows his private key, but mostly, the scenario is that his bitcoin dies along with him. No matter how much his love ones wants his bitcoin for his hard work to paid off, they just can't do anything about it but mourn with his death.

julzcoinbit

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That's the good question mate, well actually many of us didn't share any private information that we have because we want to secured. Each of us has different way just to secure privately our informations like putting all the password or private key in the usb or memory card but somehow its hard to keep because it might get on our place. I would say to those have partner in life much better to tell them your private informations or any friend that can be trusted. Also, much better to share your information to those who can be trusted so that if it might happened that BTC can help on the financial assistance to support the expenses of your tomb.

Lmaooo

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santacoin.io

Quote from: rddsd7 on December 08, 2017, 06:38:26 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.

Good question, but i think people are not that completely dumb. People should be giving their private keys to their trusted family members, of course. In case, if anything wrong might happen one of your family members knows where you kept all your money so that your family can take care of that.

Baimovic

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Quote from: aroweyen on December 08, 2017, 07:45:59 AM

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.

rodel caling

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Quote from: francesyrus on December 08, 2017, 06:44:23 AM

Quote from: rddsd7 on December 08, 2017, 06:38:26 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.

If a person with BTC and have a sudden death his/her BTC will still be in the network, unless he/she saves all information about his/her btc on notepad and can be easily access by his/her family. Like me all my online password are save on my pc.

correct mate but is also have a little risk put your private keys or password in your notepad in computer what if the your pc broken, i think this idea is crazy but safety put into paper notes and keep it into the bolt tell to your wife or to the very trusted member of your family.

WannaCry

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Quote from: rddsd7 on December 08, 2017, 06:38:26 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.

Once a person died with bitcoin, even if that person holds millions, I believe that there is no other way to retrieve what he earned. It will be hard for anybody if the deceased person is the only one who knows how to access all his addresses and accounts. Once a person died with bitcoin. his bitcoin will also engraved with him.

Bes19

full member

Activity: 1002

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if someone died with bitcoin it will still be the same. His or her bitcoin will remain on their wallet. The only changes will be the value of it. Actually this thing is always on my mind so i told my husband everything about crypto and all my passwords and private keys lol

Pablo778

newbie

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If the person wants to share his BTC with his loved ones after he is dead then he must keep his info in a safe for them.

Twentyonepaylots

sr. member

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Quote from: rddsd7 on December 08, 2017, 06:38:26 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.

If a person died while owning Bitcoin but he or she didn't transfer his wallet, the bitcoin will not disappear hence it will still fluctuate accordingly to the bitcoin price, but the Bitcoins cannot be withdrawn because the wallet is gone forever.

vv181

legendary

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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.

Kotone

hero member

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Quote from: rddsd7 on December 08, 2017, 06:38:26 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.

pEople who died with their bitcoin wallets well there is nothing that we can do to get it. Unless that before that eventful date is that they give the way on how to access and every credentials that you need. I much prefer to treat the death as it is rather than worry about his value though

endlasuresh

full member

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All are invested for their future use and no one is consider to die, if it happens some would have my private keys that are stored in seperate mobile for them. No one knows about Crypto currencies or Bitcoin in my home so I get lost what I have.

Ayush rana

full member

Activity: 476

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If a person die then his bitcoins will be gone for ever.
Insted he/she can give the wallet address and password to someone who is trustworthy.
Or even a wallet address can work in this case, because there is a option for change the password through registered mobile number.

chennappa121

member

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its better to share the information or to store in the folder where atleast known person can check and get used to it.

Gogochen

member

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Quote from: rddsd7 on December 08, 2017, 06:38:26 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 had the same consideration for this question, and if I died suddenly and didn't give my private key to them, it would mean that I had lost the fortune forever.

eurodecent

newbie

Activity: 10

Merit: 0

In case a person who owns bitcoins die, then that means that no one can ever use that as it will not be accessible, unless ofcourse if the owner gave his account details to someone then that someone would be the new owner of the bitcoins.

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