What if a person died with BTC!! - page 18.

easynote

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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.

The simple answer is that the money would be gone once the person dies with the coins in their wallet.

qumatru

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Quote from: xSkyer on December 10, 2017, 09:07:45 AM

You have mentioned one of the Bitcoin biggest problems. We can't really distinguish bitcoins which own people who are already dead from the ones that are being held for the future. Satoshi case is a good example. We don't know if he is dead or not and nobody can't access his BTC. According to Bitcoin wiki, demurrage is one of the prohibited changes. Satoshi once said that all lost coins should be considered as a donation to the community because there will be fewer bitcoins available to buy.

This is a lot of solution for it I think if you will not share with any of your friend or any other relative that you are having bitcoin it will cause you lose if you will die means all you saved will be useless so! In this case I would like to say it’s good to share about your savings of bitcoin with any of your friend your son your daughter or with your life partner so that if you will die they will know your bitcoin wallet password and it will be good for them.

cl37007

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Yes that BTC would be gone, but there is nothing to say that in the future safeguards will be implemented against this.

It is an interesting question but as the supply of BTC decreases, the value increases. The final block isn't due to be mined for over 20 years so there will still be a steady supply for years to come

BitSat

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Quote from: putlink on December 10, 2017, 10:38:26 AM

That's why we should include bitcoin in a will or bank safe.
So as not to accidentally happen when our family members can not get their bitcoin

I think its not a big issue because we can do one think like most of peoples done for other properties just print all passwords and keys on a paper and keep them safe place for one of follower after you because its very important for all they need to spend this money

putlink

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That's why we should include bitcoin in a will or bank safe.
So as not to accidentally happen when our family members can not get their bitcoin

A.Chanaka Bandara

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If person died with BTC, that coins never come BTC network again. So some BTC coins lost in network. if coins are jaijantic BTC price will down. Undecided

Pfizer

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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.

That's why you need to find at least one trusted person if you're not living alone. If you're a family, you should trust your wife and teach her how to use a bitcoin wallet and its funds. Otherwise your funds get lost forever.

ravedien

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If keys and address is not passed down, it be lost forever.

shesheboy

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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 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 or completly lost. that is why much better if we can tell our love ones or some trusted person about our bitcoin and bitcoin wallets so that they can open it immediately if something bad can happen to us. in my case i also been done this before because i give my password to my mother and i instructed her everything about bitcoin but she's still a bit confuse until now. this is also another problem for some of us because bitcoin is infact really hard to understand or to teach to some average person without proper knowledge on how technollogy works.

Sallysakky

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Kawa

Holder just need to leave the wallet and key to his/her relative or husband/wife, even if person don't know how it's work he/she will understand Grin

Also I don't see obstacles to include all the necessary information in testament.

BitNotByte

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i hope that person has a friend who knows about how rich his friend is. Grin

it will last until there's bitcoin, safe and sound

Nefarious

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I think anyone who has invested a decent amount into crytocurrency needs to make sure that they've secured it safely & 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 & operate my hardware wallet & have written her the pin code & kept it safe.

xSkyer

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You have mentioned one of the Bitcoin biggest problems. We can't really distinguish bitcoins which own people who are already dead from the ones that are being held for the future. Satoshi case is a good example. We don't know if he is dead or not and nobody can't access his BTC. According to Bitcoin wiki, demurrage is one of the prohibited changes. Satoshi once said that all lost coins should be considered as a donation to the community because there will be fewer bitcoins available to buy.

dotcomwriter

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If a person dies and his or her family have no knowledge of his or her wallet address and passwords, the bitcoin will remain and no one will access them. However, if a family member is aware of the wallet address, the btc can be accessed.currently, there are no laws that allow wallet dress owners to provide list if beneficiaries. I hope this will be considered in future when btc is globally legalized by different governments.

Noesly

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What if person died with btc, what happen if died person died because of they I have no reason or answer why person died or else person died because it is not good hold btc I can't understand that, my only opinion is good job to all person on bitcoin.

giveen

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It will just be a waste like all the thousands btc which are in the network buy no one can access is because the early adopters felt it's useless and simply decided to either through away their hardware or delete the wallet without making any sort of backup.

What's gone is gone but what can be done now is you should share all the important details and educate them how to access it.

ETHtotheMOON1

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BTC will get buried with him

Restmand

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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.

This was a good question yeah what will happen to the Bitcoin of the holder if he/she died . But i think it cannot access by his/her family if they have not enough information about it. It was such a big waste of money if thats happen you invest then you can not even use it or your family can not use it. So maybe its a good thing if your love ones and the people you trust the most will know the info about your Bitcoin than it will going to be wasted.

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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.

It is always good to share your wallet password, private key to a close confidant like your TRUSTED wife or kid by doing so there won't be any cases of lost bitcoin if such a person dies, it is very obvious there are a lot users who kept all their bitcoin details in secrecy this is absolutely uncalled for because those coins will be held unclaim and wasted in the network.

h0lybyte

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If a person suddenly dies and have not shared his private dsta like private key, passwords, his bitcoins will become useless.
As we know bitcoin is very secure, Nobody can access his wallet without having password or private keys because most wallets do not provide forgot password link like we have in email and forum wallets. If you want your bitcoins to be used after your death, share private keys to your kin relatives

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