What will happened to bitcoins after one died? - page 8.

bitcad4u

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Quote from: dynospytan on December 31, 2017, 01:44:20 PM

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 don't need to state the will because when you have bitcoin you have also your wallet. And if the owner of that wallet died and he wants it to give it to someone or love ones he just only need to give the access of his/her wallet to person that will receive that wallet.

Yes.I agree with you.Bitcoin is as like a profit.If you want your generation to enjoy the holding bitcoin,just share the knowledge of wallet to your son or daughter.If you not share that means,it will became useless after your death.You are investing the life savings money,so you should take care of your wallet.Don't waste it.

Blackdeath

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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 I do not really know what might happen after someone who has a bitcoin dies. But I think for him to be able to pass this to one of his family members or even his relatives is that he must do some preparations on what to do whenever he will die unexpectedly. Maybe he can share this to his most trusted family member or even write a diary about how his love ones can be able to access his bitcoins once he have already died. Because nowadays, I do not even know if it will be stated in the last will and testament before he dies or he just really have to tell someone about it so that they can be able to use it.

Bitcoin_Delivery

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Quote from: joebrook on December 14, 2017, 01:14:28 PM

This is something that we must anticipate and prepare for so that in the case of our demise we will make sure that in our demise, our bitcoins will not get lost for all eternity but rather we can bequeath our wallet to those we want them to have.

Anticipate we can use a lot of things ranging from providing basic knowledge about bitcoin so that people who we can trust can take our assets for our family later. I suggest we use our family to know all our data and assets

dynospytan

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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.

They don't need to state the will because when you have bitcoin you have also your wallet. And if the owner of that wallet died and he wants it to give it to someone or love ones he just only need to give the access of his/her wallet to person that will receive that wallet.

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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.

There will have to be some mechanism of estate planning involved to make sure the wealth stored in crypto is accessible to heirs. It's the same thing with cash, if you hide cash somewhere any nobody knows where it is when you die, there's no way to recover it and it's just lost. Crypto owners who intend for their heirs to have access to whatever crypto wealth they own upon their death will need to plan ahead to ensure it's accessible, because it won't be otherwise.

cheann20

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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.

As for me .I think once all the private informations were not revealed and cannot be retrieved, the bitcoin stored will be out of the flow. It will be considered as burned bitcoin. Bitcoins which are out of the flow is one factor which causes the bitcoin value do increase. Every year, there were large or big volume of bitcoin recorded that was out of the flow. For you to be able to secure and keep your bitcoin from being wasted, try to keep the private information to another storage which close related someone can access it in a specific time ..

Alalex

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What will happen with bitcoin after death, know that bitcoin will continue to run even if there are members who have died, in btc no change even if there is someone who has started studying in btc membership forum. Other people will never know even if someone has died, they just learn about their future in the future, and how to add btc balance.

They just focus on their existing tasks and continue the struggle that has been done. So still btc will run well even though there is news of someone who abandoned btc activity ever started.

Scavagers

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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.

I guess if someone died all his bitcoins and alt coins are still in his wallet but it will be unable to be used unless there is someone in your family who knows your email or wallet.This one is really avoidable but we do not know when we are going to die. I suggest introducing them to bitcoin and all of them make their own account and earn money on their own, then they can be trusted to know account and your wallet so if something bad happens to you, they can use the bitcoins in your wallet.

Charisse1229

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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.

For me, if i have a child, i teach my child what about bitcoin and i give it my account when my child become a good earner in bitcoin, amd if i die, my child will get all my Bitcoins and all my accounts.

lazaruseffect11

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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 bitcoin of the owner will remain in his/her wallet after he/sge died unless they tell their accounts and password to someone they know or to their family and relatives. It is better for the person to tell to his/her family to manage the bitcoin that will be left from them. In that way, he/she can still support his/her family through their financial needs even though they are already gone. Also, the family members will have the knowledge about bitcoin and other cryptocurrencies and earn or use it on their own.

DaftAjax

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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.

So you're talking about the beneficiaries. Well it is somehow a disadvantage for a decentralized currency. Because no one is handling this kind of currency, then all your earnings will be lost.

Now there are ways that can assure you that even if the user died all your earnings will be in good hands. I'm not saying that you will die soon but, this is just an assurance, so that it will not go to waste. And that is by letting those person that you trust know about how you earn money and how can they also earn it the same as you did. Also make copies of your account related information (in details), so that they can still use it even if you're gone.

joebrook

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This is something that we must anticipate and prepare for so that in the case of our demise we will make sure that in our demise, our bitcoins will not get lost for all eternity but rather we can bequeath our wallet to those we want them to have.

marcuslong

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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.

I think no one will own it unless someone knows how to acces his account but when it comes to that no one know if hes using bitcoin ir not there are facts that wee need to accept if you want to give some information to your family or love ines about your account and bitcoin then much more better if they had idea on what you were doing in the internet it self so you will be save atleast from financial problem you can help them as well.

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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.

You can always write down in the will the data's to access your bitcoin wallet, or you can delegate this job to a lawyer to distribute certain amounts of bitcoin in thew wallets of the inheritors.

Smokey Bob

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In Norway bitcoin is classified as a financial asset, so whoever gets your inheritance gets that as well. If no one knows about your bitcoin I guess no one will get it, which could be bad in the long run. However this should cause the other coins to appreciate in value, so it's no biggie. In Norway there are strict rules about inheritance, and those rules + a will should decide who gets the bitcoins.

Chrisjay29

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I think He/she should back up her/his file and one his/her member of family that know a little bit about bitcoin must know it so if ever there will be happen he/she will know where it and how to withdraw it... i think thats the best way

nobody-

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Quote from: Choyor on December 14, 2017, 07:24:50 AM

To anticipate those possibilities. It is best that the user should notify everything related to Bitcoin secrets such as Account, email, password, phone number to the nearest person such as wife, child or relative. so Bitcoin and its investments are not lost and some continue.

I agree. That's your best option. Of course you should entrust it to a trustworthy person whom you really trust. You can also just put your accounts into one spreadsheet and just put a password in it or on a piece of paper and put it in a vault or something. Then before you die, just tell them the password or the code so that they can access all your private keys, account etc. Because when you die, all of your bitcoins will be homeless. No one will own it. No one will know how to access it. It's like the Schrödinger's cat, your bitcoin is there but at the same time it is not there as it is lost forever.

rosepetals

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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.

Anyone who get involved in this business will probably keep a hard and soft copy of every information related to bitcoin adresses..and be kept by those trusted person.Bitcoin will never loss to its wallet unless it is being hacked by hackers.Lets be practical because anything would happen with just a blink of an eye so it is better to tell our loveones about crypto because in the first place we are doing this for our families sake for them to have a brighter future.

Choyor

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To anticipate those possibilities. It is best that the user should notify everything related to Bitcoin secrets such as Account, email, password, phone number to the nearest person such as wife, child or relative. so Bitcoin and its investments are not lost and some continue.

Crafts12

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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 bitcoin will remain to its wallet unless the owner gives all of his passwords and accounts to someone or to his/her family and relatives. It is better if someone who are going to die will give his password and accounts to his family so that they will have money for them to sustain their daily needs even if youre gone. Also in that way, they can learn how to earn and use bitcoin. They can have the capability to earn their own money through bitcoin and that will be your last help to them before you die.

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