Topic: What if a person died with BTC!! - page 21. (Read 2250 times)
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.
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.
So, that's how 21M BTC will be more reduced. No need to die, I saw somewhere, one guy lost wallet with 17,000 BTC (not sure whether scam, but it's possible). So better inform someone who is trustworthy.
If no one has access to a wallet, the BTC could be lost forever. Make sure your family can get to your BTC. Exchanges will give over access if you have a death certificate and some verification. They operate like a bank. But you if you have a wallet and no one has your passphrase and no way to get it, subtract those BTC from 21 million because they are gone forever.
Bitcoin that we get will we keep in the wallet. I once thought how bitcoin I have collected but I die, we have to back up the notes or tell our families how to access the wallet to store the bitcoin we have, so even though I have died, the bitcoin I collect will not go away
My next of kin is my younger brother and he share all the information to everything that concern me. Infact he knew about my bitcoin account and I trust him very well. If anytime am no more he can continue with account and make use of whatever I have. He also share his own information with me too.
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?
each person should have cold wallet and hot wallet, treat it like cold wallet = bank locker and hot walletm is your daily wallet you carry., where in hot wallet you keep low amounts of btc and in cold wallet, you keep your most of the btc.
you make paper wallet of your cold wallet and give a copy to your loved ones as a backup/nominee.
in case person dies, then loved ones can still access btc from the cold wallet.
cold wallet / paper wallets can be stored in bank lockers.,
you make paper wallet of your cold wallet and give a copy to your loved ones as a backup/nominee.
in case person dies, then loved ones can still access btc from the cold wallet.
cold wallet / paper wallets can be stored in bank lockers.,
just there, no one can use or move it to other wallet except he had another copy of his btc address and keep it as a legacy if he die
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's none of your business, though... If that person owns number of bitcoins then it us up to him to secure the passwords and hand it over to his/her spouse just in case he dies... BUT if he doesn't feel like doing so, its none of your problems. If that is a huge amount of BTC then that's going to be a huge HODL! ha ha! Come on, man... don't waste your time with these kind of silly questions. Read some REAL articles in bitcoins so you'll get wealthy anytime soon. 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.
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.
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/
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.
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