What will happened to bitcoins after one died? - page 3.

ulfulpama

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Quote from: bytethecoin on September 26, 2017, 10:59:27 AM

Who owns the bitcoin after someone died? How to state this in the will? Please share your thoughts.

if you didn't leave a will with instructions on how to access your coins, they'll be lost. How else would someone get after them if you have all the wallet backups and passphrases and did not leave them to someone.

Coinhype

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I think it happend a lot in the past, that somebody who owned bitcoin or other cryptocurrencies died and nobody of their family and friends know something about their invest. And while clear up their stuff they found some paper with private keys, and they throw in the trash can. So this could happen to everybody. Thats why you should tell your parents something or write it up in your testament. Because it can happend to anybody everybody.

NewRanger

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Quote from: Anies_Sandi on April 09, 2018, 08:12:55 AM

Quote from: Saoha on September 26, 2017, 11:32:44 AM

Quote from: bytethecoin on September 26, 2017, 10:59:27 AM

Who owns the bitcoin after someone died? How to state this in the will? Please share your thoughts.

They need to leave all email passwords, phone numbers, all related Bitcoin wallets. Because if they do not let the family know, then the Bitcoin number will be lost.
Bitcoin is not the same as gold or bank deposit, it does not identify the account owner or the family account holder. It just password and lock, email, phone number ....

that's all really needed in this case, so everything will go smoothly even if the person who has the bitcoin dies.

the bad thing could be happen if they dont leave all acces to wallet,meanwhile bitcoin or alternate currency price is going exspensive.so no one of our family enjoy our work for years.

RoolBi

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If bitcoin dies then I think it would be a heavy influence on the price of this virtual money market. But there is no thought that this market will end under it. For now, I find this platform very good to be thriving.

suhano

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If the person has not left the details of his investment like username and password of exchange he was using, all that investment is gone. That is similar in banks if you do not have a nominee.

Bobby park

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Quote from: bytethecoin on September 26, 2017, 10:59:27 AM

Who owns the bitcoin after someone died? How to state this in the will? Please share your thoughts.

The discussion was already tackled in other threads here in forum. The only way to make a sense on your bitcoins in wallet is to make a back up key or any printed materials that will be used by your inherited family. If you knows the future, you will plan for it.

Anies_Sandi

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Quote from: Saoha on September 26, 2017, 11:32:44 AM

Quote from: bytethecoin on September 26, 2017, 10:59:27 AM

Who owns the bitcoin after someone died? How to state this in the will? Please share your thoughts.

They need to leave all email passwords, phone numbers, all related Bitcoin wallets. Because if they do not let the family know, then the Bitcoin number will be lost.
Bitcoin is not the same as gold or bank deposit, it does not identify the account owner or the family account holder. It just password and lock, email, phone number ....

that's all really needed in this case, so everything will go smoothly even if the person who has the bitcoin dies.

guoyu78

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Quote from: jems on April 07, 2018, 05:31:09 PM

Quote from: srmecdes on March 16, 2018, 12:37:41 AM

Everyone must plan for after die for your family. Please think about after you..

Families are more deserving of all that we have after death. at least we provide knowledge to open the security of our wallets. so whenever they can access our wallets in secret. this is important so that our assets are not owned by the wrong people.

What I believe is that we should at least take in confidence one of our family member or someone who is really close to us. May be we can state a will to our lawyer which talks about the keys of wallets or things like that. Bitcoin is just an assist but digital one and it is the right of our family to have it after us. We should have some such plans in order not to waste bitcoin that we earned hard way after our death.

sana54210

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Quote from: Omega Weapon on April 07, 2018, 11:19:16 PM

Quote from: VUToken on April 07, 2018, 04:13:12 AM

Quote from: bytethecoin on September 26, 2017, 10:59:27 AM

Who owns the bitcoin after someone died? How to state this in the will? Please share your thoughts.

It's relatively simple to determine who controls a Bitcoin wallet. It's the person with access to the keys. Cheesy

If you do not make preparations for the future, your coins will remain inaccessible to your loved ones for eternity. Or at least until quantum computing becomes a more viable thing. Make sure to state your Bitcoin in your will and testament, or at the very least, leave your key with a trusted party, in case of your untimely demise. Given the potential for price growth, I would rather be safe, than sorry!

There is also the chance that someone out of luck is able to generate the same address and the same private key that you have, that is incredibly unlikely but given enough time it can happen, this is one of the main reasons of why we need to take precautions and to keep our relatives up to date about the measures we have taken so that money is not lost.

It is not possible for two people to have same address. In that case it won’t be treated as two different entities, rather it would be one. In simple words, no two houses in this world have same address or else it would be the same house.

Same stands good for the private key. Every holder has a unique address and private key that only belongs to him.And if someone dies, those coins are as good as gone.

chengyinoing

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Bitcoin is different from gold or bank deposits, and if you have to tell your children the keys and addresses after you die, your bitcoin will always be in your wallet and no one can take it away. Therefore, it is best to keep a separate record for all such details.

Altcoindealer

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I think this will be a huge problem in cryptocurrencies in future. So the most people who own cryptocurrencies in the past years and die, they dont tell other people or their family member how much they own and where the hide their private keys. So i think in the past there are a lot of bitcoins wo where lost. After a while they start to dump all their stuff. So if you are smart you should tell at least your parents or someone who you want to give you cryptocurrencies when you pass away!

coinfinger

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Quote from: btcrut2017 on April 07, 2018, 03:55:21 AM

Quote from: Saoha on September 26, 2017, 11:32:44 AM

Quote from: bytethecoin on September 26, 2017, 10:59:27 AM

Who owns the bitcoin after someone died? How to state this in the will? Please share your thoughts.

That is why we should make a matrix for our password and username for our family. Children, husband or wife should be on board in bitcoin else they may not know the importance of it.

They need to leave all email passwords, phone numbers, all related Bitcoin wallets. Because if they do not let the family know, then the Bitcoin number will be lost.
Bitcoin is not the same as gold or bank deposit, it does not identify the account owner or the family account holder. It just password and lock, email, phone number ....

All those who have bought bitcoins have placed those bitcoins in their wallets and that they need to provide certain information like that of private key, email etc. to claim those bitcoins and to prove that all those bitcoins belong to them. If you have shared all that necessary information with someone whom you trust and whom you think will never cheat you, then that person can claim those bitcoins after your death.

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Quote from: fauzan Ichsan on April 07, 2018, 11:44:00 PM

Quote from: markk94 on April 07, 2018, 05:57:28 PM

the one who left this world must left complete data for opening the wallet including address and password. when there is wallet which the owner forgotten about its password or address. and *poof* the wallet would be gone. it is still there, but no one could open it.

and this means the wallet can not be used by others, so supply of btc decreases. with decreasing supply then btc price will increase significantly. but preferably bitcoiner provides important data to the heir

the bitcoin amount will remain in that wallet without anyone can access or used it. the bitcoin will stay for a long time until someone knows the private keys and the password so he can move the bitcoin amount or use it for another thing. and for that person which found any bitcoin in that wallet, it will be like he found a gold in the cave and he will be a rich person in one night Grin

Falmera

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Quote from: bytethecoin on September 26, 2017, 10:59:27 AM

Who owns the bitcoin after someone died? How to state this in the will? Please share your thoughts.

If the man died and he did not give his password to his love ones then no one can open his wallet. No one can get his bitcoin. So it will just stay a digital currency that will be stock in his wallet. Unless someone will hack his wallet.

fauzan Ichsan

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Quote from: markk94 on April 07, 2018, 05:57:28 PM

the one who left this world must left complete data for opening the wallet including address and password. when there is wallet which the owner forgotten about its password or address. and *poof* the wallet would be gone. it is still there, but no one could open it.

and this means the wallet can not be used by others, so supply of btc decreases. with decreasing supply then btc price will increase significantly. but preferably bitcoiner provides important data to the heir

Omega Weapon

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Quote from: VUToken on April 07, 2018, 04:13:12 AM

Quote from: bytethecoin on September 26, 2017, 10:59:27 AM

Who owns the bitcoin after someone died? How to state this in the will? Please share your thoughts.

It's relatively simple to determine who controls a Bitcoin wallet. It's the person with access to the keys. Cheesy

If you do not make preparations for the future, your coins will remain inaccessible to your loved ones for eternity. Or at least until quantum computing becomes a more viable thing. Make sure to state your Bitcoin in your will and testament, or at the very least, leave your key with a trusted party, in case of your untimely demise. Given the potential for price growth, I would rather be safe, than sorry!

There is also the chance that someone out of luck is able to generate the same address and the same private key that you have, that is incredibly unlikely but given enough time it can happen, this is one of the main reasons of why we need to take precautions and to keep our relatives up to date about the measures we have taken so that money is not lost.

markk94

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the one who left this world must left complete data for opening the wallet including address and password. when there is wallet which the owner forgotten about its password or address. and *poof* the wallet would be gone. it is still there, but no one could open it.

Lomberjack

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Quote from: bytethecoin on September 26, 2017, 10:59:27 AM

Who owns the bitcoin after someone died? How to state this in the will? Please share your thoughts.

Actually that was a disadvantage of being too secured in the account of Bitcoin because we cannot be able to surpass anyone's account. So when someone who owns Bitcoin die, no one will benefit on it unless he leaves his email account together with the password so someone who he trust will going to have an access with it and for sure he was the heir of the Bitcoin account owner who have died which surely benefit his part.

jems

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Quote from: srmecdes on March 16, 2018, 12:37:41 AM

Everyone must plan for after die for your family. Please think about after you..

Families are more deserving of all that we have after death. at least we provide knowledge to open the security of our wallets. so whenever they can access our wallets in secret. this is important so that our assets are not owned by the wrong people.

VUToken

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Quote from: bytethecoin on September 26, 2017, 10:59:27 AM

Who owns the bitcoin after someone died? How to state this in the will? Please share your thoughts.

It's relatively simple to determine who controls a Bitcoin wallet. It's the person with access to the keys. Cheesy

If you do not make preparations for the future, your coins will remain inaccessible to your loved ones for eternity. Or at least until quantum computing becomes a more viable thing. Make sure to state your Bitcoin in your will and testament, or at the very least, leave your key with a trusted party, in case of your untimely demise. Given the potential for price growth, I would rather be safe, than sorry!

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