Topic: What if a person died with BTC!! - page 7. (Read 2293 times)
this will be very sad. it will go to a waste when he/she could've been used it for his/her needs or wants in life. that is why as early as now, I am teaching my husband all about bitcoin and crypto currencies and my account so when the time comes that I leave them behind unexpectedly, he'll know what to do for the future of our kids.
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 the person died with stack of BTC in their wallet, I think there's no other method to recover it, Unless all the details could be shared to someone before it happen. So, my advise to all user of BTC don't be selfish just share to your love once in case of emergency.
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 the person died with stack of BTC in their wallet, I think there's no other method to recover it, Unless all the details could be shared to someone before it happen. So, my advise to all user of BTC don't be selfish just share to your love once in case of emergency.
i think if the person die with BTC, then it will disappear together with the him or her. Unless if that person pass the password to any of the family member before the person died but if not, then heirs cant claim the money from bitcoin. We are aware that bitcoin is a form of money in a digital world or in a virtual world and is being protected by a cryptography. In which cryptography protects the data from the theft or hacker online. It is then impossible to retrieve the password of the dead person. So i guess this is somewhat a lesson to be consider. We all gonna die, we just have to update our last will testaments specially for those who has plenty of money in the bank or those who has big bitcoin savings to pass the password or private key to one of your family member or to put in your last will which is protected by an attorney.
Because the security design in the cryptographic ecosystem focuses on protecting users' wealth, there is a risk of losing wealth in situations such as death and disability.
If the personal account's password is lost, including their email login, the property of such people continues to exist in the encrypted world, but it will never be found.
If the personal account's password is lost, including their email login, the property of such people continues to exist in the encrypted world, but it will never be found.
If a person died his/her BTC will continue to flow,if his/her password and personal information belong his family than his family can take his BTC..Otherwise it will flow itself.
I think people should serious think about it....because no one really know when will the death arrive.
In general yes. That's a very interesting question, I've also wondered about it, wether or not one has to pass information to relatives about one's coins. Other than that, it's all possible. 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.
BTC will be donation forever and no one will access his/her bitcoin, nonetheless this person gave his/her private key to their love ones. His/her family can access bitcoin easily .
Well, if BTCs will disappear because of their owners dying, the value of BTC is destined to increase more and more. I guess already a lot of BTCs are already lost, either because owners died or because they have lost the wallets or passwords.
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.
If the person who died was having bitcoin on bitcoin wallet, then yes, for now, it is kappa, but if it is an exchange like Bittrex, for example, you have all chances to get it as a relative.
Well if someone had a sudden death his bitcoin will remain in the blockchain and will be forever be lost with no one to access his private keys. But if that person entrusted his credentials to someone he loves like a wife, children or parents then the bitcoin that has been left behind by that person will be use. This is why blockchain is unhackable your btc's is safe but it has it's pros and cons to.
this is a very hard case if the owner of the bitcoin address dies leaving no access to anyone even his/her love ones does't know his private key because no one can access his wallet then we can assume that this bitcoin is lost forever because there is no backdoor or any means to access bitcoin address even bruteforce so it'a a final lost and we need to accept that
This is an interesting question. Indeed it would be difficult to access bitcoin dead people, as well as to calculate whether they are in General and so on. But I think that if bitcoin becomes the main currency, this problem was solved in some way
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.
[/quote
I think it is a big problem!!
If someone died and you don't his password or the seed the money is lost.
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.
[/quote
I think it is a big problem!!
If someone died and you don't his password or the seed the money is lost.
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 the option is we inform to our family about our bitcoin in wallet and how to access it.
When we die, so our family still have access to our bitcoin to prevent the bitcoin disappear.
It may happen I assure you, using all the bitcoins you gained years ago when you thought it was something trivial and somehow worthless then you get hit by the increasement of its value lately. Knowing you lost one of the biggest chances in your life to because rich, that's a one mini heart attack.
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.
A lot of people have died and their money (fiat) was lost in a pot in a garden or thrown away in some old mattress. It has happened and will happen no matter if it is fiat or bitcoin.
What you need to do is tell your family how they can get to your funds, and it holds with both fiat and bitcoin all right.
For me I am referring to this question if I die I'm sure all of my money here in bitcoin available to outstanding family well before everyone. first I worked as an online job and I'm just here them my family will let me know what I'm doing and its also possible that one of them I will teach .so they know how to move within my bitcoin and how to make it in bitcoin .maybe it takes longer to grow stronger the day comes when people die at Keats in their way home .so be prepared to get everything I know and get what I have accumulated here in bitcoin. We must be prepared for what ever happens to us.
this thread just made me realise how important it is to write down a will, most of us do not know when and how we are going to die and let's not waste our hard earn crypto. I'm sure there is always a way to instruct your benefactor on how to unlock your wallet.
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