What will happened to bitcoins after one died? - page 4.

btcrut2017

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Quote from: Saoha on September 26, 2017, 12:32:44 PM

Quote from: bytethecoin on September 26, 2017, 11:59:27 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 ....

srmecdes

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

michellee

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Quote from: rave123wallz on March 15, 2018, 10:08:48 PM

If you own a huge amount in bitcoin and suddenly you are off in this world, maybe they will donate your coins to charity, I guess so.

I think it is better to tell our family that we have a huge amount of bitcoin and we can give to them first before we donate to charity. I think they need to know how much our money so we can tell them to use our money for a good things. but if we don't tell anyone how much bitcoin we have, then the bitcoin will be staying in that wallet without anyone could use.

bohr

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Quote from: DMiracle1 on January 17, 2018, 03:58:08 AM

Dying is inevitable. We'll never know when our time is up. That's why, i write down everything, as in everything that has something to do with my bitcoin works. Starting from my email, all that is related with the wallet, the campaign i've been working on, everything. I made sure that i do not miss a single information. I entrust all of this to my dear daughter. Because all of this is for her. I just don't want my hard work go to waste and disappear into thin air.

This is something many forget, we never know when we are going to die, and so we need to have everything in order all the time that way if something happens to us all our effort is not wasted and can benefit our loved ones, after all I will be very pissed if I worked as hard as I have and then everything was lost and not a single member of my family benefited from my investments and my effort.

ChrishAi28

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If the owner/holder of bitcoins died, no one will have take benefit unless his/her accounts and wallet password are entrusted to someone who is close to him. Or else all his holding will live in cold storage forever and no one will found it.

laguseklik

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Quote from: bytethecoin on September 26, 2017, 11:59:27 AM

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

We can said that no one will own your bitcoin unless someone else is able to access your wallet

rave123wallz

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If you own a huge amount in bitcoin and suddenly you are off in this world, maybe they will donate your coins to charity, I guess so.

Nylelyn

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In the event that the bitcoin account holder suddenly died, the whole account could not be access without the correct log in details. However, a person can make his last will and testament especially those who are rich, I believe we can include the bitcoin account details but we can keep it in a sealed envelope and to be kept in a secured place just like in a bolt. Although there is a password recovery option, some pertinent information are still required to process it or keep it in a diary that no one can read while you are still alive. Life is uncertain, we never know what gonna happen to us any minute so better to secure this matter and leave what we have for our family's benefit.

Viyamore

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Quote from: ngavanngo22 on March 15, 2018, 07:26:25 PM

If a Bitcoin owner suddenly dies without leaving the account information as well as the wallet's private key, then the asset will no longer exist and will not be used. To use the cryptos, you must have a private key to log into your wallet. As a result, people should keep their wallet and account information on the exchange floors in a safe place.

That is why a bitcoin owner should have to share his most private information to someone he really have trust to, like inheritance of wealth.
Maybe a daughter, son, or relative will do. Or best thing I am thinking is to innovate a software that can automatically transfer bitcoin of dead ones to the wallet of his entrusted heir.

T.DeLorean

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There are some ICOs who are working towards this problem. t is a problem that needs to be solved, so definitely will be happy to see more of these ICOs to present their solution for this problem.

ngavanngo22

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If a Bitcoin owner suddenly dies without leaving the account information as well as the wallet's private key, then the asset will no longer exist and will not be used. To use the cryptos, you must have a private key to log into your wallet. As a result, people should keep their wallet and account information on the exchange floors in a safe place.

abayan

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Quote from: Lupus Solitarius on March 15, 2018, 07:01:21 PM

Very simple: if you don't let somewhere your data access, your bitcoin will be lost forever.
(it seem that about 20% of bitcoin are unavailable, due to private key lost and death)

It should be someone not somewhere I think.
We have to choose carefully the best people to entrust our bitcoin. It is similar to all seen and concrete assets we have here on earth while living that has to have last will and testament so there is legal manner in passing over an asset or wealth. With this, the password and all other information required to continuously use bitcoin has to be transferred.

Lupus Solitarius

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Very simple: if you don't let somewhere your data access, your bitcoin will be lost forever.
(it seem that about 20% of bitcoin are unavailable, due to private key lost and death)

Raufjoze

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Quote from: bytethecoin on September 26, 2017, 11:59:27 AM

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

if there is someone who died and the person has some bitcoin assets or other crypto coins, it can actually be inherited the origin of his heirs have a private key from the owner of the dead bitcoin earlier, my advice keep your private key in an email and bequeath to someone you trust before you die

TheGreatPython

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Quote from: Andrej Peiboski on January 16, 2018, 04:27:05 AM

If you don't let somewhere your data access, they will remain unused (it seems that there are BILLIONS of dollars in bitcoin that can't be accessed anymore...

It will remain unused but I think that this statement is depicting a confusing and blur notion about the actual reality .The thing or the fact I must say might get clear when we would say this the other way round, the coins would not get utilized by the owner or his relatives but they will get circulated to the original bitcoin chain and hence, there would be no benefit of saving those for such a long time even lifetime.

thecoder2017

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Well that's life we don't know when the time comes so we must have a list about our bitcoins so that they can get what i earn in case my time comes.

Kalemder

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This is the thing that I am most afraid of. I feel sorry for myself. but I feel more sorry for bitcoin. will gradually fall in supply

Cryptomagnus

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If you don't take the right precautions now, they will be lost forever.
But it's very simple to let in a safe place you data access, just in case...
It's disturbing, but we don't know when our moment will be, so... best to be ready!

jonatuzc

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Quote from: jeronimosuykens on January 17, 2018, 04:21:04 AM

I will have a plan for the bitcoin I have before I die. I will dedicate 20% of my property to my children, and the rest of my life will go to charity to help those in need. Whatever you do, when successful, you should be concerned and share with the social community that has sprouted for you. Never think of yourself and forget about everyone.

But how are you going to know when are you going to die? I pray that you live a real long, healthy and wealthy life but nobody can predict the time of his death. What if someone expires all of sudden. In that scenario, all of his bitcoin would be lost as no one would know about his address, wallet and all such credentials. Therefore, we need to share this information with someone.

wildan88

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Quote from: maurobiasolo on January 19, 2018, 08:15:41 AM

Yes, even if i'm relatevely young I was thinking about this yesterday.
The issue is to educate my partner to the crypto world Grin

I also have been quite long time to prepare this because I too often work in front of a computer and that makes me become sick easily. so I am really preparing people who can be trusted to held my assets if one day something happened to me. because bitcoin is an asset and I believe someday bitcoin will become a very valuable currency.

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