Topic: What if a person died with BTC!! - page 6. (Read 2250 times)
I may personally have left my nearest person and kept all the information about bills on the record and easily accessible to my family, Like me all my online passwords stored on my computer, and can ask for help from trusted friends, to help families i leave ..
If the one who died passed the address and the private keys of his account then the btc should be fine and the one who acquired the keys can use them for their own choosing, its a lot like when you died and you gave all your belongings to someone. Its is the same concept whatsoever.
Hi just a thought. There is a rule with banks regarding dormant account. I think wallet provider can get the content of a dormant wallet I assume they have a way the over write the key for the wallet. Not sure though
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.
Simple ,if he died his/her all coins will always remain to his/her wallets..yes we can handover our coins or tokens to someone if you give your password or private keys to that person because if not, that coins will be useless anymore because nobody can get profit to it....so i will advice that you have a secret box that passwords and privates keys are been kept in there so if the day came you die when your family will look something in your room they will see it
If no one has access to the wallet, BTC can be lost forever. Make sure your family gets to your BTC. Exchange will give you more access if you have a death certificate and some verification. They work like banks. But you have a wallet and no one has your passphrase and there is no way to get it.
In my opinion, my closest family is a place to share all information with everything that concerns me. If nothing else he can continue with his account and take advantage of whatever I have ...
As many here have already mentioned, once the keys to are wallet are gone the coins inside are stuck for ever.
I think that with time, that is going to happen many times.
And that means as well that the number of circulating bitcoins is being reduced. That will contribute to an increase in price.
Maybe one day a bitcoin will be a very rare good and accordingly expensive.
I think that with time, that is going to happen many times.
And that means as well that the number of circulating bitcoins is being reduced. That will contribute to an increase in price.
Maybe one day a bitcoin will be a very rare good and accordingly expensive.
That's why we should prepare a legacy plan to indicate whom will access our wallets, private keys in case we die. Usually we used to write our physical belongings like house, field, car etc and now we need to put our private key and all the necessary information into our legacy.
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.
Persons that will die and they did not use their coins on their wallet will eventually become waste and will not circulate in the market. If you have a person that you have known for a very long time that is dying then just ask this person to pass his/her coins to your wallet in order for this remaining coins to be still usable in the market.
As economical system is changing, things that we need to take care is also being changed. With blockchains emerged to our life now we all should sort out our legacy plan in case something bad happens to us, at least our beloved people can benefit from our investments.
Well if no one have access to the wallet e.g having the wallet key the bitcoin may be lost forever, because without the wallet key no body can access the blockchain wallet where the bitcoin is stored. That is why is advisable for another person should have your wallet key it may be your wife, kid or even a trusted friend.
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.
The exception to this is when quantum computing or some other danger/risk becomes real. Lost/stolen bitcoins will be "redeemed" by hackers. Not by their intended recipients.
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.
I don't get how that is an "unless." Bitcoin is always on the network. Writing the priv keys or a mnumonic down on a piece of paper can't change that.
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 think if someone died with bitcoin, it will stay in their wallet and other accounts. So the best way to do if someone will going to die with bitcoin, they should tell all of their accounts and passwords to their families and relatives so that they can have the capability to manage the bitcoin left to them and also earn their own money to sustain their daily needs. The person who died with bitcoin will left an endless treasure to his or her families and relatives. 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.
As many here have already mentioned, once the keys to are wallet are gone the coins inside are stuck for ever.
I think that with time, that is going to happen many times.
And that means as well that the number of circulating bitcoins is being reduced. That will contribute to an increase in price.
Maybe one day a bitcoin will be a very rare good and accordingly expensive.
I think that with time, that is going to happen many times.
And that means as well that the number of circulating bitcoins is being reduced. That will contribute to an increase in price.
Maybe one day a bitcoin will be a very rare good and accordingly expensive.
bitcoin will continue exist until end of the world but you cant accessing or using it if you dont share password or private key to a person...yeah and maybe if a person died with huge amount of bitcoin without no one have his/her private key to open it...it will make bitcoin decreasing its supply and multiply its price dozen times
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.
Thanks for coming up with this topic. I had never thought of that before. If you had never give at least you private keys to the other person, your btc would be isolated forever. To address this problem, i think i will create one more BTC address for one of my family member i can rely on and split some of my BTC to his/her address. It's better than got all of my BTC locked forever.
Or maybe i will give them a clue on how to unlock my btc address if i died. For example, i will write down on a paper about how to access my wallet and full tutorial to convert it into fiat. Then i will store that paper in a certain place. If i died, my family most likely will clean up my room and hope they will find it.
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.
bitcoins are protected by unbreakable cryptography.this makes it a secure way to store wealth but also creates the risk that when owners die, their digital currency will be out of reach forever.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 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, or entrusting it with a commercial service that manages them.
Maybe if that person died with BTC? On my opinion, i think no one can get it and it will remain on that account unless he/she give the personal information , password, username and other else. And that will be a difficult decision to the owner. But if it is a inspected death? It will be more difficult to recover the account.
Bitcoin was designed for personal benefits, because not like banks that your account have beneficiary bitcoin or crypto currency have no beneficiary. Like what others said if the owners of the accounts shared their password together with the other information, there's a possibility that the family of the died owners were get the amount save in their accounts.
You will lose access to those bitcoins unless the private key was stored somewhere on a computer or phone (possibility of course). But maybe one day there will be quantum computers that can hack into old wallets, I'm sure there'd need to be a hardfork update to prevent that and all the old ones would be left in risk.
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.
Circulating Supply would shrink.
If he didn't tell his family the key.
So these bitcoins will never be in circulation again.
So these bitcoins will never be in circulation again.
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