Topic: What if a person died with BTC!! - page 3. (Read 2250 times)
If the person never gave anyone the private key of the btc, then it will forever remain in the wallet, the best way to do it is to store your private key in a safe and tell your lawyer to hand it over to your wife or any member of your family that you want in charge of the bitcoin when you are gone. better still, you can grant your wife access to the private key incase something happens to you.
This can be another example. These criminals got almost $18M worth of bitcoin.
Police arrest couple in P900-M bitcoin ‘scam’
So what happens now? they can let someone control their coins or let inherent it. But if they decided not to move it and they are in jail for so many years, these coins won't be moved.
Police arrest couple in P900-M bitcoin ‘scam’
So what happens now? they can let someone control their coins or let inherent it. But if they decided not to move it and they are in jail for so many years, these coins won't be moved.
for now i am new and don't have bitcoin maybe if someday if i have a lot of bitcoin i will give a copy or keyword for my family so if one day i die they can operate bitcoin i have
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.
Of course it will be gone if you don't give your passwords and addresses to your family. So the better thing to do is to make a copy of all your credentials, give them knowledge what bitcoin is, so that if you pass away at least they have the idea how withdraw it.
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The best thing to do is to make a written copy of your private keys. I, myself did this but instead of one, i have two copies of my private key. I entrusted one copy to my daughter for safekeeping if anything happens. The other one, i kept in my personal files to which she also has knowledge of. We'll never know what lies ahead that's why we should always be on guard.
But the problem is that some time it become difficult for the people to keep their key which they have written on page safe, there are always chances that someone may take the key from you and transfer all your fund even if you are alive, I think we should only shares our private key to such person who have a very close relation with us and also with such people who are very loyal to us. Well before sharing your private keys with your relatives and kin, make sure you explain first and make them aware of what it's for and how it works. That way they'll realize the importance of it and take extra care, simce that's probably the best way that you won't take your btcs to the grave with you
I think if a person dies for an unexpected reason. They can not say the password to relatives. I think Bitcoin will be stuck in their wallet forever. And that will reduce the amount of bitcoin in the world because we know that the number of bitcoins in the world is limited.
The best thing to do is to make a written copy of your private keys. I, myself did this but instead of one, i have two copies of my private key. I entrusted one copy to my daughter for safekeeping if anything happens. The other one, i kept in my personal files to which she also has knowledge of. We'll never know what lies ahead that's why we should always be on guard.
But the problem is that some time it become difficult for the people to keep their key which they have written on page safe, there are always chances that someone may take the key from you and transfer all your fund even if you are alive, I think we should only shares our private key to such person who have a very close relation with us and also with such people who are very loyal to us. 
If a Bitcoin owner dies his all BTC's will be wasted until and unless someone else knows the key to his wallet.This is because Bitcoin's are stored in online wallets which are only accessed with the help of a private key which only the owner knows.If he will die no one else will be able to access the wallet and automatically his all earning will become a waste.If he don't want his money to be wasted he have to tell some other person who is close to him about the key to his wallet.He has no other choice.He can give the key to his closed one and can keep a regular check on his money so that the other person does not misuse his money.This is the only way his money can be brought into proper use even if the owner dies.
It is useless definitely. But if you share the information or passwords to the one you trusts very much it will continue to have value and significance. For example to your mother or to your wife. It is a great idea. Just choose a person that you trusts the most for you to secure also your holding when you are still living.
Well, it can only be a waist if and only if the person in question fail to give out his or her password to his/her next of king or include his crypto currency wealth in his will before he answer the last call to his creator.
If a Bitcoin owner dies his all BTC's will be wasted until and unless someone else knows the key to his wallet.This is because Bitcoin's are stored in online wallets which are only accessed with the help of a private key which only the owner knows.If he will die no one else will be able to access the wallet and automatically his all earning will become a waste.If he don't want his money to be wasted he have to tell some other person who is close to him about the key to his wallet.He has no other choice.He can give the key to his closed one and can keep a regular check on his money so that the other person does not misuse his money.This is the only way his money can be brought into proper use even if the owner dies.
I share your opinion, on the contrary I think that what will happen is that both modes of payment will coexist with each other, it is impossible to defeat an "enemy" of FIAT as bitcoin
Konu
Example
Example...
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 made a paper wallet in put it in a place in my house with instruction how to sell bitcoin for real money. It's for my parents.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 not, the coin wil die with me because it will be in the network and nobody can use it forever.
Actually, paper wallet and/or some testamentary letter would simply do the job. People desperately needs to think BItcoin as a whole financial asset, so they can able to handle it properly just like another assets.
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.
In case a person dies with multiple BTCs in his account, then they would remain forever in the network. Unless his parents or friends know about the public address and private key, there will be no way to recover it. Same stands true for a living person, in case you lose your private keys, then there is no way in this world that you would be able to access your bitcoins. This can be seen as both boon and blessing. On the positive side, all your assets are very secure and you would never have to worry about them being hacked and stolen, but on the other hand in case you lose your private keys, then all your assets would disappear forever.
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.
I think in that kind of case, your bitcoin would still hang in your wallet. The best thing to do is to make sure that atleast one important person who you trust the most would know how to access your accounts. You should have atleast a single person to share your private keys with.
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