Bitcoin Forum

I just got this question in my mind. What will happen if no one knows about the pasword of his/her acount will it posibly deduct to the main supply of bitcoin? Example bitcoin was 21million supply and one man got 1 million bitcoin he was holding and suddenly he died no one can open his wallet is it posible that the remaining 20 million bitcoin forever?

Yes. But a fork might change that. As a current example, the Segwit2x fork that has been announced for 28 December proposes to redistribute Satoshi Nakamoto’s coins.

Yes, the 1 million bitcoin of the dead person will still exist, but won't move anymore because no one can make them move from a wallet to another.
This, so far, explains too why bitcoin supply is limited, and decreases with time. Now it's compensated by btc mined, but mining won't last forever (bitcoin income for miners decreases every 4 years).

What do you mean redistribute? Is this new fork segwit2x will distribute a new coin to a current active bitcoin wallet adress? Is the old wallet adress that not active will not recieve a new fork segwet2x coins?

i think yes, but it depends on the market, maybe he/she trust someone and gave the private key just like a benificiary

This question is asked many times before.Why not just search around the forum,instead of posting new threads.If the bitcoins are stored in a cold storage-hardware wallet ,somebody could find it and conduct a brute force attack with some software and crack the password.If the bitcoins are on an online wallet,the company that runs the online wallet service could deactivate his account due to inactivity and get the bitcoins.

Well, this is what the project website at http://b2x-segwit.io says:


This has been interpreted to mean that the forked coin would, in some way or another, redistribute Satoshi's coins among other addresses. How 'Satoshi Nakamoto`s Bitcoins' would be defined (after all, it's not like they would be marked with his name) and how the redistribution would actually occur is unknown.

Bitcoin remains 21million in Blockchain but because the owner of 1million Bitcoin dies and nobody can access the wallet so only 20million Bitcoins can be used / accessed
Only Bitcoin owned by Satoshi will be redistributed or all old inactive Bitcoin addresses?

Maybe you did not realy understand about my question right? My question is what if the person die’s and no one realy know and no one can open he/she’s acount. The point is the lost bitcoin will deduct to the main supply of bitcoin because no one can move that. Just like a lost treasure or something?

it is very unfortunately if happened.sebenarnya there is a solution to prevent it happens the solution is the same as the inheritance.If you have a bitcoin in large quantities then you think it must be inherited in your child.soon and tell your account and password bitcoin on your child so that your child can continue your bitcoin business and will not just disappear.

Yes all people are are dying but it doesnt mean that if the owner of the bitcoin die the bitcoin lost too that a bad mistake because if the owner dies possible there is a new owner the original owner inherit it to his or her relatives so that bitcoin keeps continue in the future and people around the world are no worries

its similar to ancient history, lost treasures of gold in the ocean and under earth. people forget the location or their ship sinks. probably we will see something like this in the future: (bitcoin treasure hunts)  ;D

a solution would be to make it that wallets that are inactive for ~20+ years become re-minable

Actually It Not Gone
But Since No One Can Access It
It "Lost"
But There Is A Chance
A Little Chance
Someone Found That Address While Generating New Address

it has a possibility that it may lost or just stay it depends on the situation how about if he had get to know on it how about if he tell it one of his family and teach them on how they are able to manage this. for my opinion this scenario will always depends on the situation that are been given for.

As long as nobody gets access to the wallet and use the bitcoins of the deceased then, the rest of the bitcoins would be lost forever to everyone. There is nothing to be done maybe the user might be using a Bitcoin Core wallet with no password then i think in that scenario someone might get access to it.

yes in fact we have less than 21 million because bitcoin was less than 100$ and many lost wallets with many bitcoins "i know some one lost wallet with 500 bitcoin" all this make 21 M is ideal number.

i think yes bitcoin will lost forever if owner die.
but if his own relative know the details they can recover :)

Yes, if someone dies, or even if someone loses their private keys to their wallet - the bitcoins in that particular wallet are lost forever (basically). In the future we will probably see more and more people inherit bitcoins, so that they aren't lost. If someone with 1 million bitcoins dies and the private keys are unknown - then yes, those bitcoin are pretty much stuck where they are.

It's unfortunate, but people have suggested for inactive bitcoin to be able to be re-mined and other such ways to make sure amounts of bitcoin aren't lost forever. There are of course issues with this to do with security and otherwise so we will probably see the status quo for this scenario to stay the same for a while.

I also think so, but all of that we can anticipate from the beginning, that is by giving everything about Bitcoin secrets to people who really can be trusted, for example to lawyers. so our Bitcoin assets will not burn (disappear). which later can be inherited to our family.

This is why we also need to atleast note the guide how to take our bitcoin for our family member, teach them how to used it
Give them our legacy that we invested.

So our works, will not become nothing

Maybe very soon they will find a solution for it because not OP many people thought this one before. So maybe someone will find a solution for it without losing anything because someone needs to be active in order to control the stake flow.

What do you think will happen? The coins are gone for good. In fact, it doesn't even matter to the rest of us bitcoin users if someone loses access to their coins. In fact, it's actually good for us bitcoin holders. The less bitcoins there are in circulation the more rarer they become and the more they will be in demand. One of the main reasons that people worry about whether satoshi is alive or not is because if he ever reawakens and chooses to start selling his coins or even just moves them people will panic and the price will likely crash because of the simple fact that he has so many which could have a devastating effect on the market, hence why it is better off his coins are lost for good. If bitcoins become so rare that even one single satoshi becomes worth like one dollar or ten more decimal places can just be added to meet the demand.

I was thinking about it too so i was planning to right a note about of some details of my acount and save it to a secret place that only me and my love ones knows about it so no one can stole it from us.

Thats good also because if bitcoin got a small supply in the future the price will surely goes up how about if that small remaining supply was also gone then maybe we can say that this is the end of bitcoin.

The only thing i could imagine that if someone dies and before that don't tell to anyone the pin from the hard wallet, then the person holding the wallet without the pin has to wait quite long time while the technology will go futher to crack the old cold wallet.

Satoshi went offline after 1 week of releasing Bitcoin whitepaper so u can see bitcoin tilldate with no owner

Ofcourse NO, there will be a next bitcoin owner. It can be his/her son and daughters if they are using this. Or the 2nd highest position in bitcoin. LONG LIVE THE BITCOIN!

In some whitepaper of some new coins, they state that the deflationary due to the fact that some existing coins are burned, and the burning process is done by sending to an address which private keys does not exist or is destroyed so nobody can access the tokens forever. There was a case when a guy dumped by mistakes some thousands of bitcoin in his hard drive on the trash and so he lost his bitcoin. If someone dies and there is no way someone can access his wallet for not knowing it exists or he takes this secret with him to the coffin, you may say that he took his bitcoins with him to the afterlife. Is like sending them to non-existing account and no one can retrieve it, so there will be less bitcoin in circulation.

Yes, if you didn't send it to anyone in advance and nobody knows your wallet key, the crypto is lost. However there are some services like Mywish that use smart contracts (currently works with Ethereum, but Bitcoin support will be soon) to transfer money if a particular condition is followed. For example, crypto will be sent to your wife's wallet if you haven't used your wallet for a year (this could sign a death).

how can be his/her son and daughter can use that account if the question is no one can open it ? it means no one have access to that wallet and it means it is gone, no one can use

Yes. Btc is still exist but can not move to other wallet bcos nobody know code of wallet

What a surprise! They offer that bitcoins which was mined by Satoshi will be distributed among the other people. This at the first will be lookt as a stealing, and at the second will crash the price of Bitcoin on crypto-exchange markets.

Yes of course. I agree with above opinion. It can not move to another wallet. It is exist but nothing.
So if this happen many times to many people specially whales who hold many bitcoin, so the supply 21million is still exist but its like less than 21million coin.

There are really person who has no trust to anybody, that is the disadvantage, so for me at least my partner in life knows about my password especially here in bitcoin, and we are listing our passwords in one notebook so that whenever we forgot at least we also have a note as a hard copy of all our needs of information.

Yes that's what happened to Satoshi Nakamoto's coins. A lot of his coins are kept in his wallet and it has 0 transactions since a few years.

Thats why bitcoin is a deflationary asset. Some bitcoin is lost permanently.

if any one has died, but no body knows  his  passwords his bitcoin maybe  in his / her  wallet.

Yes, ofcourse because bitcoin has only 21 million total supply no more no less. So if there is someone holding bitcoins and then accidentally the owner dies it will always deducted the abandoned bitcoins unless someone can retrieve it and sell it into other currency.

Yep Lost forever

If you die, your bitcoins get lost and they are substracted from the circulated supply of bitcoin. Because they're not circulating anymore in this case. That's why you need to get a second plan for this case.

It is very genuine issue raised by you sir.  Definitely in case a person dies and nobody in his family knows about his vallet address and  password they will not be able to get the ownership of the bitcoin.
Previously in the past also there have been many hurdles problems  in  certain issues which were raised time to time and resolution afterwards were invented by some intelligent people.  Likewise the issue has been raised by you; for which today we may not be having solution but in the future definitely people  will be working on it to resolve the issue and I am hopeful of getting resolution with no longer waits.  In the meantime we should let our dependents know about the treasure we are having and passwords to at least our husband/wife so they in case of death they may withdraw the money.

Yes it will lost forever.amd its a huge lose i guess.but i guess its not fair to tell anybody about the password.but i guess you may try a hacker.haha.joke it was

You should make your master wallet multisig and give different keys to your family and show them how to retrieve funds in case you die.

you are right, I agree with what you say.
this is the correct answer of all questions similar to the OP post. I think if there is no heir, obviously bitcoin will move over to the company that manages the wallet.

I think the question regarding bitcoin supply is good but the owners is not a fool before all this they must have discussed these things with family members and all these can't stored in mind only they are using it for many reasons the companies are using this the family knows this business of bitcoin the traders have partners whom knows about the current position of bitcoin. If some one keep all secrets and they have not shared any thing with one then it is true that bitcoin will be lost and may if the owner not used their wallet the miners theft that bitcoin.

YES。

People wont really bother to use up that search bar top right for this site and as being said this question been asked for how many times already.For the sake of relevant reply then once bitcoin have been stored up on a wallet which you do own its private keys then once you died then those coins cant be longer accessed by anyone if they don't have the keys but in case to case basis which I agree on the thing if those coins being stored on online wallet then possibility that company can really access it since they do have the key.

yes, it will be lost if he don't give anyone his password or private key..so I think everyone should tell his password to his trusted anyone or family members

I think bitcoin developers are not just one person, they have a team and when one of the discoverers of bitcoin dies, I think there are others who know the system in bitcoin, even if their leader who dies is in control. certainly in that team also trying to take the stored bitcoin. because most likely they also know the entire database in bitcoin

I think as you say, bitcoins are locked like no treasure found. bitcoin will remain but not moving until there is a hecker that can find it.

I read about this somewhere. It would not be possible to hack bitcoin for next 25 or 30 years. So even if a bitcoin holder dies and leaves no way to recover it, then those who can hack bitcoin will be able to recover those coins. But in the mean time it will be out of circulation and will increase demand for bitcoin.

Yup! That 1 million btc will be stuck on his wallet as long as no one knows his private keys/username and password. So if there's a person who will nearly die, I advice him to pass all of his bitcoin earnings to someone who deserves it or just withdraw it then divide for charitable works so that his treasure will have a purpose and will not remain as significant numbers.

Bitcoin will not disappear if the owner dies. And a little difficult is if the person left behind can not know the password of the Bitcoin wallet. Therefore, the selection of our wallet for Bitcoin should be really the best (support if the previous user died). And I do not know if there is a wallet like I mentioned?

First, there's no bitcoin owner, its a decentralised currency. 2nd, bitcoin inventor is not heard of for past many years but still the currency is doing good. It has got some technical issues but there's a large community working on that.

Maybe if the inventor was still part of the project then he may somehow have a authoritative say on decision making. I personally, wouldn't like that.

I do think that bitcoins are something that are lost if something like that happened and then they will remain held forever and they won't be accessible to the normal market till the owner finds their key also there are chances that it will be hacked if they are not taken proper care of..
Well I have heard a thing or two about people loosing bitcoins also the wallet does not have any reason to think that the person isn't holding it for long enough.

Sadly, it's the hurtly truth. Noone could reaches to your wallet if they don't have password to the wallet website or the private key of the local wallet.

yes there will means that nobody can know the privatekey of the coin and only the owner

know, if owner die there will be lost forever

I think this what happens. And with every Bitcoin holder passing, his coins are also lost for good unless he made arrangements that they aren't. Technically, it would possible to retrieve the coins which are sitting idly on the blockchain after some time, for example, a few dozen or hundred years, but that would be against all current rules.

If most coins get irretrievably lost at the end of the day, it would mean that Bitcoin itself has lost as a currency. But we may not live up to that really.

Maybe the legacy cannot be erase. Because bitcoin has the originality and the quality that you cannont forget into your life. Btc is not possible to gone but it stay for a long period of time.

I'm amused by the fact that so may participants use the word 'if', as in 'if you die'. Every person reading this will die, which is why everyone holding cryptocurrency should prepare. Also, it's not even just a question of death. You could sustain brain damage or contract Alzheimer's. Prepare now :)

Yes, the million bitcoins will be in their name and may not move from wallet to wallet again but if they stored online and there is no activity, the company can access the bitcoins and reclaim them.

The bitcoin will still remain in his/her account but since no one knows the user or password of the account therefore it can't be trade or transfer to another account.

if he wasn't able to entrust it to anyone before he dies.
then it will be safe to say that his/her bitcoin will be lost forever.
that is why you must have someone you could trust your keys with.
so that all your efforts now wont go to waste.
:D

Yes correct, if a person dies without telling anyone about the key and his wallet address. It will be lost forever, it will still reflects from its balance but cannot be accessed anymore.

This leads to volatility in which bitcoin owners can die, I think if the owner or inventor of bitcoin is dead, I think the virtual cryptocurrency money will keep running, because this virtual money will always develop the device in this cryptocurrency business, if the bitcoin owner is dead, there must be a second holder of cryptocurrency, I'm sure it is.

No, I don't think its possible. No one can access that account anymore. Meaning it will be stacked there, but cannot be accessed anymore.

i think its not because he can heirs it  to his children and also i think he don't like to die bitcoin when he died because if he die he cannot want to die his sacrifices to build the bitcoin so stay strong for the owner of bitcoin.

I think yes if bitcoin owner die her bitcoin will lost forever
Because no one can access that account, except hacker steal her bitcoin.

That's possible happen the bitcoin holding person when he or she die the bitcoin will also disappear if that's not able to recover that's the problem, but if ever one of close friends or family know maybe it recover by them using the gadget he/she used, example laptop for me i save everything my password here in laptop so that i can't forget it. But it is case to case basis in different scenario that happened.

This thread isn't about Satoshi. :D It's about people in general owning (i.e holding) Bitcoin. Satoshi himself doesn't play a role of importance anymore for Bitcoin in technical terms. The only thing giving him any importance right now is his supposed coin stash, which no one but him knows exactly how many coins he owns. I think it's safe to say that in current time and day, the market would applaude the day when they know for sure that Satoshi can't access his coins anymore for whatever reason. And no, there won't be a second holder of his coins, unless there is an unkown entity with potential access to his private keys. As long as his supposed early coins aren't moving, the market remains calm.

Your right if satoshi die and no one can access hes wallet too then the market is just still remain. Theres no affect in the movements of the coin but the total supply will decreast dew to that acount that can’t be move and the potencial holder of that bicoins will goes to the remaining supply which smaller to 20 million BTC. Because the 1 million was lock in to the wallet of the dead person.

if the bitcoin owner leaves the important document and gives the document or data to his / her family then the bitcoin automatically will not be lost, but if the person does not leave a will or small writing it is likely the bitcoin is like a locked treasure and stored in an unknown place one person.

Well, if it comes to that, I should also add that it is not just about someone holding cryptocurrency. It is about virtually everyone who has any currency or any valuable asset which can be lost when they meet their Maker "unprepared".

I do not think so because independent bitcoin is programmed through the matrix. Therefore, the bitcoin processing is managed by the computer and runs indefinitely. So the bitcoin does not have a stoppage though. The creators have nothing to do with it. With the current total assets of the bitcoin up to 21 million, and its creators only hold 1 million, accounting for 1% of its total value, his Loss also does not reduce the value of bitcoin at all.

I think the bitcoin just stay in the wallet but its useless then since the bitcoin will be idle.
It could be the creator of the wallet can retrieve the btc

I think that the option will be added to the wallet that after a certain period of time if there is no activity in the wallet the funds will be transferred to another wallet. In MEB there is a token, MyWish, who makes this transfer.

Bitcoin will be life forever but btc can not moved to other wallet

I don't think so. Because if there is any one who knew about the owners wallet we all can say that it's bitcoin on his account will not die or not used. For me as a bitcoiners I have this one friend who knew about my password so that if anything happens to me I would rather give some notes and to do to my wallet so it will become useful.

this are the reason why i write down all my details on my diary. incase bad things happen to me my family will open my bitcoin account.... i write my username , all the site i join and have balance , all my wallet link , password , private key, even my atm password i also write it... in that case im more feel secure for my children future

If you hold your BTC in an decentralized private wallet then it is impossible to access your BTC unless somebody knows the private key or seed, in order to open it.

yes ofcourse as both online and offline wallet can be forever gone if no one knows the key or password of your account ,it might even be satoshi the founder is dead as no one 've ever had an access to his btc since he found bitcoin

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, storing it on a flash memory drive or entrusting it with a commercial service that manages them.

Over the years so many ppl died and forgot to send to someone the private key like, mom, sis or who they trust and his btc became in limbo. My mom has my private key and i taught her how to using it if i die
you should do the same

I read posts here and some of them really made my day :D
Ok, I would say it doesn't means bitcoin is lost forever. Let's imagine, it's virtual thing which doesn't exist in reality so we can edit it as we want. Now for example if there are 10 bitcoins and 1 worths 4,5$, this means 10btc=45$. Now man who owns 1 bitcoin dead, so we have left 9 bitcoin in network. We can make prise low and higher, so in this situation we try to increase price to cover that loss, so now 1 bitcoin worths 5$ and we have again 9btc=45$.

I think yes. This is reality. We cannot give our accounts and security passwords to our family. Even our facebook accounts and bitcoin wallets. Giving it to them is a responsibility to them because we cannot handle our life. We cannot define when we will die. My girlfriend has my bitcoin wallet accounts and private key and i also taught her about bitcoin and my accounts. I hope that you will do what i did.

yes, because Bitcoin does not care who owns and what the circumstances of people who have Bitcoin. so if someone left Bitcoin then it is considered the holder

Based on my understanding bitcoin is a decentralized system therefore no other party controlling it and in case of holders decease then its bitcoin will remain in the wallet and it can never be transacted without the encrypted key. So its better to secure everything like password and give it to our trusted one in case of our death.

could be, depending on the owner save bitcoin where, if stored in the wallet online i think the wallet will deactivate his account and claim his bitcoin. and it could be that the bitcoin owner has notified his address and password to the trusted person.

well bitcoin has it's pros and cons

Before the bitcoin owner dies, he should tell to his most trusted person all the information about the bitcoin he has. There's no sense in keeping your wealth and then when you die no one will continue holding onto it. Being wealthy is not a destination, it's a journey. Whatever wealth you accumulated in this life are useless if you take them to your grave. So choose carefully the person you're going to pass these assets.

Once bitcoin gains acceptance there might be ways to pass the wallet to someone of your choice, it is a dangerous prospect imho

Unless the owner of those coins has passed on the private keys to someone, there is no way to pass the wallet to another individual, and no amount of acceptance can change that scenario. If the developers implement a hard fork to change that situation, then it has the prospects to become a double-edged sword. There can be a lot of misuse.

If it all happens then I will tell you the account code and the bitcoin password to the person we trust like both parents, brother and sister.

Same way you will want to share with your family member about your investment,it will be also nice and thoughtful to  let your family know about your keys to your bitcoin,same time teach them how to trade with bitcoin.

in the forum is very easy to do, if you leave bitcoin you can give your private key to your family or your siblings, to continue it, for me it is very easy to do everyone who is working in this forum.

Sure ! This is the security of blockchain technology! So, if you own coin, tell your loved one about your account!  ???

yes ofcourse because all wallet for bitcoins is encrypted and only the owner can open and manage his or her bitcoins unless he or she had a companion that has the private key for the wallet to transfer it to another account if the real owner dies

I mean if that's the case then you really have no choice but to abandon your bitcoin because it is pretty much useless at that point because you can no longer access your bitcoin it is as good as dead. Which is why it is important to backup password because practically it is one of the most important thing in your wallet because without it you could not access your money there.

I heard about the segwit2x fork,since there are many forks going on with bitcoin , i am not bothered much as i am yet to cash in my other fork coins ,but i did not understand is how they are going to redistribute the coins held by the developer,how can they do that fair and share and if they can take the coins from that wallet how secure is other wallets,they could literally take those coins from any wallet. ::)
If someone is holding bitcoin and he dies,the coins he is holding is lost unless someone gets his private key.

if I still if I die today and I am in the wallet then before I will teach family I believe to love my wallet password because of bitcoin sia2 can be enough for family property.
 

If no one knows his/her account and password, the bitcoins will stay remain forever in his/her wallet. That's why you need to make a notepad or a file about your wallet and the password, so when something bad happen to you, your family will know your bitcoins and they can open the wallet and take it.

If you die today, clear your bitcoin anywhere.
Walking dead too, unless someone knows and can enter your wallet
That's a different story, if you want to die. mending bitcoinnya in cairin only.
Continue sedekahin same people who need, so it can benefit.

The bitcoins get lost until quantum computers are developed and people are able to hack into the wallets to retrieve them. If the internet goes down, so do the bitcoins. but so does everything else. So we have to choose

If the bitcoin holder dies and does not archive the account and keywords to inherit it to his family, bitcoin is lost from the family's hand, but the missing bitcoin still exists in the blockchain network. So in my opinion bitcoin is not lost, but inaccessible.

If you have the private keys if anyone who died ... you own them bitcoin... hehe is really simple ... if you have bitcoins your own and no one has your private keys you should be worried.

The bitcoin in his account would not be recovered without his personal informations and private key. Then that bitcoin would just stay that way unless somebody knows the owner personally.

If the bitcoin owner will die, then the bitcoin will remain to wherever he/she put the bitcoin, unless the bitcoin owner shared the usernames and passwords of the sites where it was stored to his/her family members or friends, so they can still have it.  So maybe we should share our usernames and passwords to our trusted family member or friends.  ;)

Yes. That will disappear forever, but the possibility is small and small. Unless it was a world war, everyone returned to BCE. At that time, there was no need for the Internet. Without the Internet, there will be no bitcoin. ;D

BTC is not Affordable, for it's fees. I think before some one die, BTC will died

Yes for sure if nobody knows the private key. It will be loss forever.
Make sure you tell the private to somebody else like your family or wife. This is for saving your bitcoin.

I think this will happen if they use cold wallets. But if they use the wallet platform like coinbase, xapo, ... then I think bitcoin is still circulated in the market if the owner die.

No, it is impossible if bitcoin owner die bitcoin lost forever no, I think like if you said the owner what if owner is have a daughter or son's or what ever of owner trusted, I think just like a owner of bitcoin it continue the legacy of bitcoin it continue what we want of owner.

Is that a legit fork or another fake fork again just to make FOMO for people and increase the price of bitcoin like the last time they did it? And oh its 28th of december today time to read some news about the fork.  ;D

I don’t think so bitcoin will be die if bitcoin owner die it’s a fact that bitcoin is decentralized but it’s not like this that he is running this currency along there must be a lot of people who are working for this network to promote and owner will also have someone who can look after bitcoin after him I’m sure that bitcoin have a head office and owner of bitcoin is also monitoring bitcoin on daily base so I don’t think so that bitcoin will end.

Well , if no one will find your pv key and stuff , I think yea , they are lost forever among with the other bitcoins. As far as I know there are over 1mil of lost bitcoin. Is this accurate ? Is there a  way to recover such bitcoins ?

If Bitcoin owner dies. It means Bitcoin also lost forever?
Yes, unless if the password is given to a relative.

Make a copy all of your access , share with your closet one and tell him if i die you can access on my bitcoin account

Lol, the question is not about the whole Bitcoin going away if some Bitcoin holder or even Satoshi himself passes away.  It is only the bitcoins of the deceased that go into oblivion unless they have taken measures that these bitcoins not be gone for good.

In the world of crypto currencies, all those who have bought the bitcoins are given with the private keys. This key is just like a key for opening of some lock where a lot of wealth is being placed. You do need to have someone in your life whom you can trust blindly. You then need to share that private key with that person so that if something unusual happens, then he can claim those bitcoins.

The amount stored on that wallet won't be lost. But the access to it will be lost forever, it will just stay in the wallet forever and no one can access that unless you have the key.

I think yes, but unless someone knows your passwords or privatekeys for your wallets.

If a bitcoiner dies with a bitcoin in his wallet and no one knows the password, then it's like a treasure that does not know where it is and will never be found.
obviously it will reduce the supply of bitcoin because the bitcoin is locked in an unknown container and will not be found.
so we must therefore prepare the file and teach our families to this if we experience things that are not in want.

Yes that is why there were a lot of talks suggesting people to give access of their private keys to their familys. Also stating everything in your will is another important thing to keep in mind as it then becomes legal bind.

its sad to say but it's true that if the owner of the bitcoin owner will die,but i think the other users was make a solution about this because if they don't get an solution in this kind of problem,probably the bitcoin will become less and less because of this cases.

I think it would be no matter if they die 1 million bitcoin will not transfer then the market will be 20 million bitcoin. In hard fork sessions, other coins will be created and the bitcoin will change.

The bitcoin will not be recovered. With that said, the capacity of bitcoins will decrease or maybe they can create a program that will null the value of bitcoin when holded in a certain span of time. Just imagining though  ::)

Well , we all are bitcoin owners so it's hard to asume that bitcoin will die of the owner dies. I you are thinking about Satoshi well it's beyond me to answer this. I'm still a newbie.

I think if the owner of bitcoin is dead, bitcoin does not disappear as long as it still keeps the password and username known by relatives or family.

If no one knows your private keys and you accidentally died then those coins will remain lost forever. It will be burnt and will make the supply cut down and less in the circulation. And with your given example, yes that will be the situation if ever someone will forget his private key or log in details to an exchange / web wallets that has his bitcoins.

At this current moment, all of the wallet content will not be recovered if the owner did not pass on the wallet information to someone else in case something happens to them. As someone else said on this thread, a way that might not be a good option in a lot of peoples' minds but a solution nonetheless would be to have an internal timer set which would return the wallet content to the pool if no modifications have been made for a certain time span. Yet I do realize this might hinder people that have the intention of holding.

If the user does not have access to the dead owners wallet/private keys, then yes! By yes, I mean that the coins won't be lost but can never be accessed. It will still exist in the supply but can never be used. There are supply cap of bitcoin, and it will remain constant. The coins which can not be accessed will not be replaced by new bitcoins.

As we are all aware, a Bitcoin wallet is encrypted by a private key or password and they are needed in order to decrypt and access that specific wallet. So if there is a wallet that contains 1M of BTC and the only person who knows how to access that wallet died then we can consider that the coins inside that wallet lost forever. There is no other way to transfer that amount to the circulating supply but to decrypt that wallet. Someone could crack it using powerful computer/s but as long as it is locked, the coins are lost forever.

Theoretically, when a number of Bitcoin become lost, the total supply remains the same. So from your instance, when 1M BTC became lost, 21M BTC will still exist. However, only 20M will be in circulation forever, unless the remaining coins were recovered.

Writing an important thing in the text is a really bad idea unless you secure it tightly. That is why people should think Bitcoin like a real asset, so they will make a testament letter before they died.

if bitcoin owner dies, then the bitcoin is lost forever except the owner has his wallet details saved somewhere. so to be safe, get the details saved for your beneficiary

Is Possible To Open Bitcoin Account, Someone Who Has Died.

If in Conventional Bank Account. Examples Like in Bank BCA, Bank BRI, Bank BTN, etc.

If Any of Our Closest Relatives Die and We Are One of the Family Who Gets Inheritance. It's not a hard thing to open it. As long as the Inheritance's Guarantee has been Validated by the Bank Party.

Then the Bank will open the Account. And Giving a Live Account Substitution
New Password to the heirs.
However, the Question from Mas Murch is How to Open a Bitcoin Digital Money Account owned by a Siblings Who Have Died the World. How to…?

Very complicated
We know, Bitcoin is Digital Currency and Stored also in Digital Purse. To open and access this Wallet requires a Username and Password.

Another New Problem is the Digital Wallet has 2 Kinds of Type. That is :

1]. Handbags handled by a company employed by Human Employees

2]. Robotic Wallet with High Encrypted Security.
If the Account Owner Registered himself in a Wallet Company done by Humans. Maybe Still Can be Saving. We Come or Post an Email to the Wallet Company concerned that the Owner who dies this world is his family. By Including Valid Important Information. Such as ID cards, Family Cards, Drivers License, Heirs, Valid Information About Death, etc. Printed in Screenshot Digital.

But unfortunately, Digital Wallet Company is also making System using Robot. Because The Wallet Company Runs Automatically Controlled by Online Robot with High Encryption Security and Anonymous.
If Bitcoin Account Owner Saves Digital Money In The Wallet At Point 2. Then It's Difficult To Be Open It. Even if you submit the Truth Document on Death and Heirs. The Digital Wallet Company will reject it. Because the Company Owners also can not do much because the System is set to have been taken over by Anonymous Robots.
The Only Way is Someone Before It Dies. Has Notified First. Password and Username to the Family Heirs he trusted.

If guns Kayak so. So When Someone Dies. Bitcoin Money Will Continue to Be Stored and Buried in the Digital Wallet Forever.

Bitcoin Money Buried In The Maya World. It could be a time the value zooms and decreases automatically. In Involvement by Trading Competition Trading between Currency Crycptocurrency. But surely, guns have 1 person who can take it if the username and password is not in the know.
so in conclusion if the owner bitcoin dead automatic bitcoin will come to death, without explanation above.

definitely fork might change that problem. but i dont think bitcoin will die also because its already circulationg all over the world all bitcoin is distributed very well in some people who buy bitcoin.

i think yes it still be in his or her account but no one will get the money he invested unless he put it in a place or wrote it somewhere that can easily seen by his or her family and I believe he surely shared to his or her family how to handle bitcoin or use it.

it will be lost forever

There's the dilemma there. You won't know when you'll die unless you have a terminal disease and you also wouldn't know if the person you trust your private keys with will stay true to your trust. Especially if you have a lot of btcs.

I suppose yes - every year will have more "dead" wallets and I don't know what will be in 50 years for example =)

if the owner of bitcoin dies then the number of bitcoin in the world will decrease.
I think bitcoin password must be in the know by our family like wife because if we died bitcoin we can be owned by our family.

certainly, those Bitcoins are still existed, but they cannot be used or restored. Bitcoin wallet just has one private key. No one can fixed them.

sure they're gone if nobody knows how to access his private key, otherwise I'd loose trust in they sytem..

If the owner of bitcoin die there possibility to lose his/her bitcoin if the owner is Noone of his /her family know about bitcoin. But if there's someone know his/her doing in bitcoin there's possibility they can get all the owner earning in bitcoin or continue the owners doing in bitcoin.

This is interesting as a good discussion, I also suggested to some of my friends to trust someone to hold the key of bitcoin wallet, most importantly is the closest person who can be trusted hold the key of the wallet so bitcoin can be inherited.

If the person die and no one from his/her family know the private key or the password. There is no way they can get or use the bitcoin of the deceased.

Agreed! The fact is there is nothing which you can do with your bitcoins in both the cases, if you lose your key or if you die without telling anyone else about your private key. Your bitcoins will be lost permanently in that case and there will be no one who will then be able to claim those bitcoins on your behalf. That is why it is said to share your private key with someone whom you can trust blindly.

Yes, that's why it's important to discuss these matters with your family on what happens to your cryptocurrency when you die. You can write down instructions for what to do in such a scenario and then your family can at least redeem what was yours and puts it into good use.

Oh my god 1 million for 1 man only that's very good question but in reality if you have 1 million bitcoin your are not an ordinary citizen. however that's  question only, my answer is " you are true" they can't access anymore if they don't the exact details of their  wallet if the owner suddenly die.

I think that exactly this possibility of losing coins is a very good feature.
Over time it will happen often that coins get stuck in wallets where nobody has the keys to recover them.
Those coins are not part of the supply any longer.
This means that the rest of the coins increase a bit in value.
And when I think of how careless many people handle their things, I can imagine a lot of coins getting lost over a few decades.

Not so, bitcoin is decentralized, no one owns it. It is decentralized, even government don't own bitcoin. As long as people using it, bitcoin will never die. As long as the demand is there, it will stay forever. Just use it on our daily lives. Bitcoin has great future.

But I guess this will not happen with the actual Bitcoin. Nakamoto's coins won't probably be redistributed. But the real problem is not if they are lost, but if someone gets its hands on them dumping them all on the market at once. That would send Bitcoin's price back to 1$.

I don’t think it will die with him too however there is a possibilty bitcoins price might go up depending on its usage or how it is being used by many and if the supporters still support them. But we also don’t know what will happen but let’s just expect the unexpected.

If bitcoin owner dies, then his soul would rest in piece because he has did such a wonderful deed that there are millions of bitcoiner praying for him. And if he dies,then also BTC won't lost because Now BTC itself is a brand and it does not need any more recognition. Though owner is very respectful but in spite of it, BTC would continue to float forever and would serve the people, the only thing that hinders it's path is it's decentralization and in future this would also happen and people continue to earn their profits

It depends on the wallet he/she is holding, There are wallets that are not secured and some are in the news that they are being hacked by an unknown other user. I think that there is no way to recover that coins because the wallet is super incripted and this coins will be just become waste.

if the bitcoin holder will die his/her bitcoin will remain idle unless there is a person know his/her personal key.  
it is better that there is someone knows your key. either wife or children.

Technically they are not lost, because bitcoins remain on the wallet, the only problem is that coins can't be used. I think, that in case if someone owns a lot of BTC, he/she can leave notes to someone he or she trusts, so that person will be able to access the wallet.

of course not, in a corporation the incapacity or deaths of this owners does not affect the performance or the life of the company since it was manage by lots of people.
So you have nothing to worry about if the owner of bitcoin dies since the bitcoin will still operate no matter what happens.

In my opinion, we can anticipate it from the beginning, by giving everything about Bitcoin secrets to people who are truly trustworthy, for example to the our families...

No! Because bitcoin is not just about the owner itself, it is all about the consumer who invest in it, the more the investor the longer the lives of bitcoin

I did not think like that actually the Bitcoin is decentralized currency, so the command is never in the hands of a single person. So there should be no affect on currency by any single person. The Bitcoin is growing up and reached to a position that it can be legalized in all countries soon. The benefits using Bitcoin are involving many new users to this community. The investors are always in hurry to buy it for their better earnings.

I have never taught of this. As I was reading your write up, I was asking myself how to handle this in a way that i would not be caught in the web of loosing my money. I think the best thing to do is to find someone you trust and let him know all your investments and if possible let the person know your passwords. So in event you are not found again, your sweat will not be in vain

then it means the 1 million dollar will become lower and lower and become zero???

His bitcoin will be totally lost in oblivion because no one can claim it on behalf of the deceased person. Similar to those people who have mined bitcoin in its early years however, lost all the private keys to that address.

That's why there's a debate or a thread asking if you are willing to share your password or private key on make a document detailing instructions on how to recover your bitcoin in case something happen to us.

The value of bitcoin is already high and it can low but if you think this will be gone in the future that's not gonna happen because if you own btc the value of that is base on the person that have so even they mining all still it have price already and it will continue again in again.Many of us think bitcoin can be gone but i think it can't happen because we need this in life like the transaction and the extra income here for some jobs here another thing is the knowledge that can crypto brings to many people.

That is what causes bitcoin prices to experience an upward trend, because the number is limited and only up to a total of 21 million only.
So it's important to take care of your assets, make sure someone knows you have an investment of bitcoins, or it would be wise to make notes or testament.

Very interesting question I also have thought about this , I saved the key of my bitcoin wallet in the flashdisk and I left to person I trusted , so when I die this person will give my inheritance to the rightful person .

If bitcoin owner die. It means bitcoin also lost forever? I  did not think so . I want to say that Bitcoin will not disappear because it is now decentralized and most popular digital currency all over the world. I think not only one person owner and developer bitcoin if the owner dies besides I do think that bitcoins  are lost .

Do you even understand the question? What he meant was in case you have bitcoin in you wallet and you die while no one is having the private key other than yourself. What will happen to it then? It will be lost forever.

It is another form of burning coin. And yeah bitcoin supply will be decreased time to time because of this kind of mistake

I think 1 million is not lost, 1 million is still there and will always be there. Because no one knows the password of his\her account then no one can take or use or recognize the 1 million bitcoin. Never thought about this before, maybe we should share our account password with our most trusted person, wife, husband, mother, father or anyone else.

No the bitcoin of the owner who died will be remaining in the address where he/she put it. It will not be deducted but no one can withdraw it into the address where he/she put it unless somebody who is trustworthy to him/her and shared his private keys, passwords and anything that can access to its bitcoin then that person can withdraw it and use. If no one knows the private key then it will remain there forever but not deducted.

 No,  in corporation the business is own lots of people so the death of one will not affects the existence of the company itself.

Agree with this. We can just think of it as if the password or wallet key has been gone. The bitcoins within that wallet would no longer be a part of the circulation. Since there would no longer be new bitcoins to be mined, then the law of supply and demand would apply due to its scarcity.

Yes, I agree . If the owner bitcoin dies if they do not provide the password to any relatives. All their bitcoins will be lost forever because no one can open their wallets. This is unfortunate. I think we should take measures to avoid the worst situation. Let's say your wallet password to someone you trust most.

a good question. i think if the bitcoin owner die, the balance remain there
unless they had give the pkey to their relatives or someone.

This is a good question I had never thought of before. If bitcoin is lost or the bitcoin owner is dead, it is too late to give bitcoin to someone else. Does this part of bitcoin disappear forever? Even companies that have an online wallet service may disable their Bitcoin account due to inactivity and earn bitcoins, but I find it unfair that there may be any accidents with bitcoin owners during that time, say Is a vegetative, why stop his account?

Yes. But it was designed to be this secure so I think most Bitcoin owners have a method to reveal their private keys and back-ups when a tragedy happens. You could do with thorough written instructions.

That is the sad thing in Bitcoin. Definitely, no one will be benifitted nor can retrieve tha stored bitcoin in that died person. Unless, if the wallet developers would find out that the account has been inactive for so long and no one is trying to open or accessed the account, then te developers could think or guess that the owner of the account had passed away. In that moment, they could get into his account and will take all his bitcoin. THe developers would be the riches people now.

NO, in corporation the death of the owner or any stock holders will not affects the existence of the company; so nothing to worry about when the owner dies.
There will be bitcoin that will happy to serve you no matter what happens.

This question set me thinking. It is true that the bitcoin would have gone if the bitcoin holder did not tell the next of kin about the crypto portfolio he has. Many crypto currencies will be missing.

Fortunately, I write down the seed words and private keys of my wallets. And told my next of kin how to retrieve them.

From what I know, Yes, that one million of the deceased person is still there and no one can move it. basically just leaving 20 million for the rest of us. That is the main reason why Bitcoin is very limited.

It should be written in their Will. Their testiment. But how does one access that account? Maybe if you send proof of the death to the exchange staff/wallet team, along with a written Testiment or Will, they might help you distribute it to that person? Or give it to them in cash while the organization sells it?

Should be settles somehow in the coming years how this should work.

I think you dont get the main question in there. As we talking about the lose bitcoin that no one can recover there own bitcoin.

As i see in some comment here that they said if some one holding the bitcoin in some wallet then the company of the bitcoin wallet they will resume that bitcoin and open it again.

Yes, it will. When a bitcoin owner dies and no other people has an access to his/her online or hard wallet, the bitcoin in that wallet will be there forever, and there's no way for other's to get those bitcoin. It will lessen the number of bitcoin in circulation. So, if you have a lot of bitcoin, make sure to let someone you trust the most, know how to access your wallet.

My question is if NO ONE REALY KNOW ABOUT THE ACOUNT then the coin that holding by this person then the bitcoin that stock on that wallet will be deducted to the main total supply of bitcoin.

Yes. It is, if the bitcoin owner died the bitcoin will not be moved unless some relatives proves that he or she are qualified to inherit the bitcoin owner's wallet.

Yes, the total supply will be reduced. If that really happens, you just can only hope that someone or maybe you can find the lost priv key wallet XD

Most likely, these bitcoins will be lost to the market. But many people do not care where they store information about passwords - on their personal computer or in a paper notebook, and heirs of property can fully master this information and gain access to bitcoins.

Yes, if a person dies and does not leave any access to his purses, these bitcoins will be permanently blocked for general access. Therefore, each of us must take this moment into account, because life is unpredictable. It is necessary to teach at least one of your family members to handle bitcoin, explain the mechanisms of its action and tell you where to get access to wallets in case of trouble.

If no one has access to this wallet and does not know how to enter it - yes, these bitcoins will never enter the market again. Unfortunately.

I was also keeping my paswords and private keys in some safe place that no one can see this but i already told this to some one i love. But i did not told them that this is about money i just simply told them that this is something very very important to me and someday it can help us all with this.

If she/he does not give a message to others then the bitcoin he has will disappear, it is important that we must provide important information to the family so that if we die it can be useful.

Exactly. It is good to tell someone who is trusted about the existence of such a folder in a safe place. As a result, someone will be able to use them in an emergency.

If no one is in possession of this private key, it does not mean that the bitcoins will be lost.
but they will never be moved to other account,just in this account.

If it's in a paper wallet, it has a slight chance to be recovered by a random dude, if and only if the holder of that paper wallet used his private key once and some bitcoins are still left in it.

All lost bitcoins may not contribute to the circulating supply, but it's still part of the maximum supply.

On my first statement; this is how I see paper wallets work, that's why many people tells us not to use it more than once when sending it to a receiver.

If he store somewhere their private keys, you can get inheritance.

It is not lost but it is like that also.  Because if no one knows his private keys, passwrlord or email.  It is lost because no one can get it and there is no way to get it.  No one will benefit that bitcoin since no one knew about the private key.  It is always better to write it in a notebook or have someone knew about it.

It's really if he/she wouldn't leave private key to anyone to access the wallet and there is no way to break the wallet so far. It means that there is only the remain of circulating supply to be existing in the network afterwards.

No, actually the government has a law from this incase this scenario happen to every people.
The value of bitcoin who have will remain to your possession. Once you die your heirs can owned it by filing a petition in a court to get the things that they will inherit and make this things in their possession.

It will be useful if somebody invent the testament function in these cases. Or self destruction after concrete quantity of days/ course or smth like that.

Yes, unless the private key is shared.
You can't move or transfer it without knowing the private key.
So if unfortunately it wasn't shared, the bitcoin and the owner will be in peace forever.

The best possible solution to this problem is that investor must share his wallet password with someone he has trust who can deliver that coin after dying to his loved ones and the best person to share private key is your spouse or someone who is more closer to you and I think if investor don’t share their private key with other than their families may suffer after them and by telling someone this will help his family to use hat bitcoin and maybe that bitcoin will bring a lot of happiness and they can manage their expenses.

When i realise this scenario i already start whiting my paswords and private keys and hide it in a safe place that no one can see only me and my wife but my wife dont mind what im doing he dont know what is it so she just keep it without asking me.

No. It doesn't mean if the owner of bitcoin die, the bitcoin may lost forever because bitcoin can be pass to the people who are interested in bitcoin.
It wouldn't remove its value. It is like an other asset that can serves as a legacy to your family or to the people who want it.

I agree with your opinion, only the bitcoin owner die but not the bitcoin will lost. It can pass from generation to generation, just leave the password  to whom you trust so that someone can inheret your investment.

No it is not like this because your amount is present in your digital wallet where you are doing your transaction and also can do aa online trading so if the owner dies it does not mean that your money is loss these days there a lot mining sites and people are doing their trade because of all these btc without having in mind that the owner will be died or some misfortune will happen.

It's a good practice if we pick someone that we trust to continue our investment if we die. Our nearest family is the best choice for this one. It is  may be our husband, wife or children. It is true that we can not bring any material thing to the next life.

I am reminded of a friend who lost a lot of shares of BItcoin for not trusting the nearest person to keep a private key, and the family can not be inherited because of unbelief,
So trust the nearest person if one day you will leave it

Yes if the deceased owner of wallet forgot to give the private key its recipient before succumbed in his termina illness or died due to accidents, murdered by someone or died in sleep i suggest that someone in your family must know and tell the location of his private key or if you haven't trusted anyone put you private key in the safe but known place so, your family must find it easily.

Yes. Once no one can access your wallet when your gone, it is also gone forever. There have been cases of early holders losing their password or forgot how to access their coins. Some even forgot that they even have bitcoin in the first place. All of these are lost forvever, which can add to bitcoins scarcity when it reaches 21 million.

If the passwords from the wallet was not handed over to the relatives to recover the purse, no way! According to statistics, about 5 million bitcoins are lost irretrievably!!!! This is sad, but it becomes more interesting, because the price of it because it becomes even more expensive!

Generally any hashed token that is lost is indeed lost forever. In the chance of a wallet or an exchange account the ownership can of course be transferred like any other type of wealth or even simply by sharing access to the account with your partner etc.

On a different not a fork of a blockchain can help recouped such hashed tokens by turning them into a different blockchain but with the same token value.

I think those Bitcoins are still existed but they cannot be used or restored.

It depends if the owner will pass it to their friends or relatives. If their friends or relatives will continue to use and earn bitcoin using the owner's account, the bitcoin of the owner will continue to grow. But if the owner does not pass their accounts to someone, I think their bitcoin will just stay and will not disappear.

This is interesting as a good discussion, I also suggested to some of my friends to trust someone to hold the key of bitcoin wallet, most importantly is the closest person

Had the bitcoin owner given the credentials of his account to any of his family members or friends then they can use the bitcoin. Suppose if he does not means I think bitcoin if gone no body can take back that without the information from the bitcoin owner.

In theory, yes, if the owner dies and he does not share the private key with others, then no bitcoin is known.
So when bitcoin is completely dug up, the number will only get smaller and smaller, and if there are still people investing, the price will surely get higher and higher.

What if, he's already thought about this himself? i.e. Like an inheritance policy. If you were sat on that much money/assets, i'm sure you would have some kind of policy that if you die it goes to xyz.

Yes, I think it is. If a bitcoin user dies, the risk of wealth in the bitcoin will simply disappear. So from now on we do not conceal our account to people we trust. Assume bitcoin is a legacy for our child.

If the bitcoin owner dies then that means his/her bitcoin would stay in his wallet and it would just be stock there,
That would lessen the number of circulating bitcoin and I think there are tons of bitcoin that has been stock or lost already ,
Some are the early users wallet who have forgotten it .

right. When the bitcoin owner dies, the bitcoin will not exist. No one transfers bitcoin from one wallet to another. The bitcoin value will decrease over time and have a certain limit. You should sell bitcoin when the amount is too much.

i think Yes all people are are dying but it doesnt mean that if the owner of the bitcoin die the bitcoin lost too that a bad mistake because if the owner dies possible there is a new owner the original owner inherit it to his or her relatives so that bitcoin keeps continue in the future and people around the world are no worries

In the cryptographic world, it is not possible to transfer the wealth of the encrypted currency to the heirs or other beneficiaries as needed, which is the weakest point in the world.

So be sure to let our family know the password of our cryptocurrency.

I believe this question was asked before, if you just search the forum.
Anyway, if it is stored in a hardware wallet, it can be hacked using hacking software and crack the password. That is assuming the hard storage is found.
On another note, if it is stored in an online wallet, the service provider could clean it all up due to reasons of inactivity or deactivate his account.
Or else, this bitcoin will not move because nobody has the opportunity to do so.

Nope it can still be recovered by someone who knows his credentials. We can also hire a hacker retrieve the btc. Nothing is impossible with technology.

Obviously, if the bitcoin owner dies and no one knows the owner's passcodes and some bitcoin information, then that bitcoin will just remain in the owner's account until such time one can access it and moves the bitcoin or sells it. This is one reason why we need to keep our passcodes where only our trusted individual knows unless we don't want our bitcoin to be taken by someone when we die.

The truth is if a bitcoiner die without giving someone close to him like wife or children his private key it means his bitcoin will also die with him. Any unclaimed cash in the bank after many years will be utilized by the bank for investment.

The truth is yes, just like if you forgot your private key or password  you will never open your wallet again. My friend has lot of coins and his computer die and he didnt save his private key. That will be the biggest problem in bitcoin and other crypto wallets.

If the bitcoin owner dies and nobody knows about the password and his account, then bitcoin will not disappear, because no one can access that account ..
But even though no one can access the account, bitcoin supply will not decrease because bitcoin is still there but not moving ...

Nope, the bitcoin will remain to the exchange. Since there are no rules or law that govern about it. If it is a fiat the bank given a span of time will report it to the government and the government will be the owner of the fiat. In my country and if I am not mistaken it is about ten years. But bitcoin is not under the control of central bank nor the government, thus the bitcoin's new owner will the wallet company. If you own the wallet company, I hope you will not wish to happen something like that.

Exactly. If the owner dies and no one has access to the seed phrases and private keys to its wallet, and can access the owner's bitcoins, they will be frozen there forever, essentially decreasing the total supply, cuz that is fixed at 21 million at any given point of time, and so those bitcoins will no longer be accessible.
Exploits may be found in the future, but those totally rely on security leaks, and as soon as they will be patched up, there will be no way for others to access any bitcoins owned by the deceased.

For me it is very easy in this forum, if bitcoin owner is dead, I will give my personal key to my family or my child to continue working in this forum, because for me very beneficial for my family,
and if you provide your family's private key, it's perfectly safe to proceed.

OP's understanding is correct. If someone dies and he holds a lot of bitcoins for example 1,000 BTC then it will be lost forever. And the current supply in the economy will remain but no one can gain access to that 1,000 BTC he owns unless he will put that on his last will testament and it contains his private keys.
How can you give if you are already dead?
Even you are not in forum, a person that has bitcoin can still hold.

Well it is depend upon the situation, many people using bitcoin now, if the owner die well his subordinate will handle it for sure, bitcoin can't easily die.

In that instances if the owner of bitcoin will die,and no one knows the password of his wallet,automatically that all his remaining asset will become forever gone, and that my thought about the rule of cryptocurrency,because its digital currency system and a transparent currency,so for me if i have that kind of portfolio,its make better to teach one member of my family,about the process of cryptocurrency,so that they can manage your asset if ever theres something happen to you instantly.

The simple solution is anyone with substantial bitcoin investments or holdings now, has to consider including it in his will in case of death and also include his private keys. legally his private keys should be safe as long as he is still alive

Supply will not change until it last. Those 1 million bitcoin will stay in the wallet if the person who hold or store it. Unless, the password or private key was given to someone special to this person, bitcoin in his wallet can possibly move and circulating. As long as no one knows it, it will stay forever in the wallet.

If the Bitcoin owner disappears then it will go as you think. It will be use if someone holds their private key or someone with personal information can access it and get Bitcoin. If that does not happen, the Bitcoins they own will disappear when they die.

I think yes, if the bitcoin holders of sudden death, his family did not know the bitcoin wallet keys, so his bitcoin will remain its wallet, no one can open, it will not circulation, it is a waste for bitcoin

The answer would be too obvious.
That is why cryptocurrency holders must see to it that their loved ones must be able to benefit what they will be able to left in case of scenarios like this.
Because whether we like it or not time will come that we will leave this world that is why we should now make necessary preparatios as early as possible.

This question is very good but that is not entirely true because if the bitcoin owner is dead it may still be used if the owner has left it to his children or has been inherited to his brother, but if the owner of the bitcoin does not inherit it to his children or his brother may be the new bitcoin he has to die.

Unlike retirement funds or even savings accounts, no one needs to know that you own them, or how much you have in them or indeed how to access them without you. Bitcoin provides a safeguarded space for the store of wealth that can be kept secret from everyone.It is one of the attractive features of Bitcoin for some, but it also means that it is all too easy to take a fortune of digital currency to the grave

I think that it is not really lost, but inaccessible. Since the bitcoin's owner died, and no one knows his/her password, then it cannot be accessed by anyone. I also think that it is impossible to force attack the account because it is encrypted in a more complicated way.

It will stay that way, for sure, most especially if the deceased one haven't shared his/her crypto wallet's information (private keys and others). But who would really share their private key to their family? Maybe it's not a good idea to share it with the family but at least, it won't be wasted and the family can be benefited from it if the owner dies.

I think it is not deducted from the total supply. It is still there although remained untouched. The total supply of Bitcoin is not affected. The 21 million Bitcoins will remain 21 million forever. Some of these have lost circulation though. Some of these are also forgotten forever. In fact, a significant portion of the total supply of Bitcoin is already lost in history for sure. Bitcoin has been used already for several years and certainly countless of private keys and passwords of personal wallets have been forgotten.

I think so too, because I think 1 million bitcoin will still exist but does not move at all. can be said that the bitcoin is dead. #CMIIW

The Max supplay bitcoin is 21Million, cant descrease or increase, if bitcoin holderss die, doesnt effect with bitcoin. but bitcoin in their wallet is gone, that why you must anticipated this, tell your family or your trusted friend about your wallet so if you already die, they can open it and continue your work



Yes i agree, like impossible treasure, Yes i agree, no one can have it

bitcoin will disappear during its time if the owner of bitcoin off and not tell the pin, email, and 2fa nya.Maka from that there are times when we tell some data to go into bitcoin account which we have to the nearest family as its anticipation

I agree, if the owner bitcoin dead password their wallet nobody can open. Bitcoin will take forever. The best way is to pass your wallet password to your children or relatives. This is a way to avoid the worst risks.

People will include their wallet passwords in testaments soon. Crypto develops so fast that it seems quite reasonable.

maybe it is time to create something to stop it from happening.

Therefore, we believe that Bitcoin is more valuable than gold, and gold is still larger than Bitcoin in terms of humanity. Gold is more often used as a medium for decorations or transactions, and its value is useless.

As far as I know, this is a fact because there isn't a solution present today that can make this problem solved. Most probably an update of some sort may come. Or exchanges might make policies about unclaimed and unupdated bitcoins to be absorbed by the exchange.

Most likely, these bitcoins will be lost to the market. But many people do not care where they store information about passwords - on their personal computer or in a paper notebook, and heirs of property can fully master this information and gain access to bitcoins.

Bitcoin is concerned with the holders now it is continuously ongoing currency so if the bitcoin owner is die i think it will not affect the bitcoin now it is good to trade bitcoin the digital currency in the present time from this we can become rich and with this the bitcoin is very popular with the interested investors and the wise traders now it is very profitable to join the crypto.

For my own idea about bitcoin business, it is not actually operated by a single person, and I think not also a single country, it is likely a form of a large corporation which is own and operated by a generous people. The name Satoshi Nakamoto is the common name used by bitcoin business,  and no one knows who really is the certain Satoshi Nakamoto, maybe Satoshi Nakamoto is a group name which is the founder of bitcoin. But I'm not sure about my opinion, it is only beyond my imaginations, and hopefully my idea helps to those people have a wide imagination and understanding about bitcoin business. So, no need to worry about bitcoin owner will die because there's a lot of member also replace their position.

People died, but Bitcoin still exists. As long as the wallet's private key is still there, someone knows its existence, and you can use it to open your wallet and transfer Bitcoin away.

well, if the owner of the wallet that contains the bitcoin dies, then the bitcoins are lost forever except hackers bump into it and collect them.

If you still have monogamy and no family, then if you die, who do you pass your face? If the person who owns your password does not know how to use it, it's over.

your thinking is too far away ... if even the bitcoin owner is dead, this is not done yet, everything you have on the wallet is stored safely. to anticipate everything you do not want, you can introduce your private key code to a trusted member of the family. or your heirs.

I think we have a lot of bitcoins, that are lost forever, but i think it won't be a problem. It's positive for bitcoin price

Thanks for this information. At least now I have an idea of what will happen to my Bitcoin just in case nobody in the family knows my password and everything. I could not imagine if a Bitcoiner holding millions of Bitcoin died and nobody knows the detail of his wallet and it cannot be transferred to other wallet. Somebody should know the detail of your wallet. The one that you can trust.

If ever the Bitcoin is still in the wallet  but it will not be able to move it anymore. The total supply is still 21 million because it is still in the count even without the owner . But his password might have been and he gave his trust or one of the members of the family. Of course, big money is involve so it he gave the access to other.

#Datarius

I am also under the impression that this remains true. Although, I could see potential changes to this in the future. If anyone has any links to current news on this, please share!

Nope, the bitcoin will stay to the trade. Since there are no guidelines or law that oversee about it. On the off chance that it is a fiat the bank given a traverse of time will report it to the administration and the legislature will be the proprietor of the fiat. In my nation and in the event that I am not mixed up it is around ten years. Yet, bitcoin isn't under the control of national bank nor the administration, in this manner the bitcoin's new proprietor will the wallet organization. In the event that you claim the wallet organization, I trust you won't wish to happen something to that effect.

The private key of a wallet is the access pass for a wallet but is not always handed out by some of the more popular online wallets.
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, storing it on a flash memory drive or entrusting it with a commercial service that manages them.

It is good that you have where you save all these details on the side, so your family can access your wallet if anything ever happens to you

It still counts right? Cause the bitcoin still do exist and was owned by someone even if he/she dies, the bitcoin is still counted among those bitcoins in circulation?

If he did not leave his relatives or close friends with his passwords and a private key from his wallet. Then consider that his currency is gone.

If someone owns his wallet and password, then the btc number can not be lost. However, I think very few people will disclose their passwords. And if so, then as you said. But I think this case will be very rare.

There is always a way I believe, even if bitcoin owner will die... I sure he thought of it and plan it even after he created bitcoin there is always an alternative plan and it will not be deducted and there will always a way out to know one's password so that other will or the family itself will benefit also.

If no one has access to where he placed his bitcoin holdings then it goes with him when he dies and less the supply circling around. But if one of his family has access to his private keys then it can be opened and it could basically be used and sold.

I think there is more than one owner and everything was well thought before it was launched. I don't think things would end if the owner dies

It will lost forever if no one knows the keys and the supply of bitcoin will decrease, they say that bitcoin supply is limited so it can't be recovered and it's like being burn.

Thousands of Bitcoins are lost forever. Noone can get them if they don't have private key. So, yes, it means that.

The most ideal answer for this issue is that financial specialist must impart his wallet secret key to somebody he has trust who can convey that coin subsequent to passing on to his friends and family and the best individual to share private key is your life partner or somebody who is all the more nearer to you and I think if speculator don't impart their private key to other than their families may endure after them and by telling somebody this will help his family to utilize cap bitcoin and possibly that bitcoin will bring a great deal of bliss and they can deal with their costs.

Nope, the bitcoin can keep to the trade. Since there aren't any pointers or law that administer concerning it. On the off likelihood that it's a act the bank given a traverse of your time can report it to the administration and also the law-makers are the owner of the act. In my nation and within the event that i'm not necessitated it's around 10 years. Yet, bitcoin is not underneath the management of commercial bank nor the administration, during this manner the bitcoin's new owner can the pocketbook organization. within the event that you just claim the pocketbook organization, I trust you will not would like to happen one thing thereto result.

Bitcoin is a virtual currency that is protected by an unbreakable password. This property makes it a safe way to store wealth, but it also creates the risk that when Bitcoin owners die, their digital wealth will never be honored. The Bitcoin market is currently worth about 70 billion U.S. dollars, which is a big problem for families who have invested in Bitcoin and died in Technai.

it is possible to go to the depok for bitcoin given the heir insurance facility, so do not find the incident like that, and to the depanya bitcoin facility can be more complete and perfect.

Yes, so we should teach our family that how to use Bitcoin... 8)

Technically yes if the person having a huge amount of bitcoin in his or her wallet and when he dies the bitcoin eill remain on his or her wallet forever and that cannot be access by anyone who doesn't know his or her passwords because that is a security thung so if you have some issues about that thing that what if you die then have some back up ppan and save your passwords into some case or something and saud that when you die open that and leave some messages to those you left behind.

you have a good idea there. Well that would be the blessings for us  for the btc price will not fall down eventually up 500 usd depending on the market price of btc after having those bought and unused btc. The result is ideal since btc price will not fall down that much since it is being stabilized by the btc owner who died together with his btc acount. This is another.advantage to the investors of btc. They will not be afraid or make any worries of btc market fall down price. And this could be another why we should invest in btc.

What is lost is the owner life but his bitcoin remain alive and could be transfer anytime when the wallet provider knew the sotuation. I think the same process is being done like with the bank. banks usually give notice to people sending mail thru their address stating they need to perform activity to their account or else the bank may possess all the balances on that account. And when the time lapse, the bank take possession of the account and give government a portion of those.

the first of course, the amount of bitcoin in circulation will be reduced by 1 million because if no other party knows the private key that existed at the time of the owner died I think his bitcoin assets will be frozen on the bitcoin wallet device. but do not worry my friend think the evolution of science and technology is not limited here because science has evolved and I believe someday there will be new technology that can solve this problem. perhaps this problem would be a task that must be overcome for blockhaind tech scientists.

Bitcoin is build for all the people who belong in this world this is functional using new generation high technology and my perception is this BITCOIN back up for all new creation and discovered gadget to serve better for us for upgrading technology so digital currency is one of the new creation of Bitcoin serving to all people without no hassle. let say 1 million BITCOIN lose from the person suddenly death, this is only minimal many bitcoin circulation in this world and remember until now no one can IDENTIFY who's nakamoto's in real life. So, there's possibility to make additional bitcoin without prior noticed to public because it is unidentified person.

,,,Maybe will lost forever because  no-one knows the private privacy key of his/her wallet, But I think the 1M$ is remained stable because bitcoin is a limited stock only 21M$  so, this might easy to trace. Actually,this topic is an opinion only. For nowadays it's impossible to be happened because we are now in a new era that almost educated people. To avoid it happens, let's tell and inform to our family or love ones.

Hi there coinsocieties, are you trying to ask what will happen to the remaining 20m or to the 1m that the deceases man owns?, The answer for the first question would be easy. The remaining 20m coins could still be mined if they are unminned or they could be passed to other person or relatives. In terms of the 1m, that could be a stucked bitcoin specially if no one knew about his wallet, it can’t be mined again.

Nope. Bitcoin is not driven by any particular person or any institution like banks. It is a decentralized one and the owner is or the creator is a imagine person called Satoshi but that itself is not confirmed whether he is the creator. Bitcoin technology is built in such a way that it will sustain forever and it don't have an end as per my knowledge.

That's  just too narrow, I think if the owner dies, bitcoin can easily be influenced to the society, even if the owner of bitcoin dies, to simplify my statement, for all those who are thinking like this, and expecting bitcoin to die,  yes bitcoin  may die in the future or it would be the future's leading currency, though if bitcoin dies it won't be the cause of owner dying, but the cause would be other cryptocurrencies leading the stats overcoming bitcoin, this is what you should put into your mind, might as well  study some more about digital currencies and how things work here before making topics like these, but nonetheless I'm happy to help.

Yes of course 1 Million Bitcoin will remain in the wallet of the owner who has died. Unless there is one of his family who knows the password. But if no one knows and who knows only the owner only, surely we will all lose Bitcoin 1 Million and forever there will be 20 Million Bitcoin left. I hope this will not happen.

I think  not only one person  who created  bitcoin industry.
In this kind of action it must be founded by a group not only one. Because it have very broad works.

You got to have a safe box for your keys, passwords and other necessary stuffs when emergency happens. You can also share it with the person you trusted most of let us say your benefactor. Nonetheless, if no one benefits your crypto then it will stay forever in your wallets unless a successful hack happens.

I think No, because, I think their are some people who know this bitcoin with the owner in bitcoin so, it is still and not lost bitcoin until many people know and manage this opportunity. Many users are know and used bitcoin to the way earn money. If bitcoin owner is die it is not bad to everyone because, their are some people know this bitcoin.

No. That is why owners should involved the member of the family. They should provide a matrix with there account and password as referrence if whatever happens to the owner. Let them know how important it is and how does it works.

Lost assets when someone dies happens all the time, especially with overseas bank accounts. if the person doesn't share those details with a trustee then yes its possible that the assets remain dormant. Bitcoin is no different. The same way your will have everything else shared with someone you trust, you should do the same with your BTC

Bitcoin will never die because the owner dies. You can have the bitcoin of that owner if he said his account to you. The owner must share his details to his beneficiary for transfer of bitcoin to another account or user. Like banks, you will never get the bitcoin of the true owner if you don’t know the owner’s account

I think if the owner dies and no one recovers or takes it, it will stay in the wallet. As long
as bitcoins exist, it will stay always stay there intact and undisturbed. Although circulation
will be affected, depends on the amount and price conditions. Price remains and in a way
bitcoin will stay well in market. But I think with the means of hacking, bitcoin stored in
that wallet can be recovered and taken, unless the owner has someone else he left in
charge for it. If it were me, I'll include it in my will and assets, if I would perish at least
I'll have it distributed to loved ones or family.

I  don't know what is the purpose of the OP why he asks this, blockchain is not in the hands of the owner, so whether he is here or not bitcoin will surely continue no matter what so, don't worry about the obvious things like this.

First of all it's very sad thread but anyway after owners death bitcoin will stay on his wallet and if he left something to take everyting bitcoin can be used again.

Yes, if the currency holders to death, no one knows her keys, so her wallet COINS will never be able to flow, these COINS will always not to come out, it will always stay in my wallet so you'll need to give your family a secret key

Unlike retirement funds or perhaps savings accounts, nobody has to recognize that you simply own them, or what proportion you have got in them or so a way to access them while not you. Bitcoin provides a safeguarded house for the shop of wealth which will be unbroken secret from everybody.It is one in every of the engaging options of Bitcoin for a few, however it additionally implies that it's only too simple to require a fortune of digital currency to the grave

as i know yes, if somebody hold 1 bitcoin in their address and if he / she died their bitcoin will gone and it can't distributed or ttransfered to another people forever till the bitcoin gone in this world, it can't open how far you try to open it, it will stuck in their address forever

I think the coin left by the owner will remain in the market. Coins may move to another wallet's address, if in life (the previous owner) once kept a coin on an exchange site that allowed hackers to steal them.

[–]Lexarius 17 puan 1 yıl önce
The standardish way to do it is to give your estate lawyer part of your key(s). The other part, you either give directly to the intended party, or put it in a safe that they will have access to after your death.

The more entertaining way is to be a fabulously rich eccentric, spread parts of the keys and hints about them around the world, and then have your estate lawyer announce the first hints at the reading of your will, with whoever can get the keys first legally inheriting the contents.

yes it will deduct on the supply of bitcoin but because there is also fork it might change. but the bitcoin that was in the wallet of the dead person will stay in there forever if no one can open it because of one knew the private key of his wallet.  it cannot be transferred  as the only way hos family to have an access with it is through his private key.

Well, I think yes, unless he showed to another person or let know via his will or whatever what is the pssword or how to access the bitcoin then that would mean that bitcoin would not be lost. However if otherwise then I do believe that that part of bitcoin will be lost forever unless in the future we can find or devise and invent a way or method to scoop up lying bitcoin wallets filled with the bitcoin of those people long gone then that would be amazing

This is possible, but not necessary. not necessarily that Bitcoin will be lost. Because Bitcoins are stored on purses and on stock exchanges. Relatives of this person who died may know the passwords from those places where Bitcoins were stored. Then they will be able to access them. There is another option. There are such cases when exchanges and wallets hacked swindlers. In this case, Bitcoins may find themselves in them and then continue their story.

It won't be in the market anymore. The owner dies, leaving those coins untouched, it will be gone out of the circulation but the supply will remain as is.
If that's the case, yes those left coins will be back to the market if it's touched or left to an exchange. And if the exchange's management found that there's long period of no activity to that wallet/account, they can take decision.

It should be written in their Will. Their testiment. But how does one access that account? Maybe if you send proof of the death to the exchange staff/wallet team, along with a written Testiment or Will, they might help you distribute it to that person? Or give it to them in cash while the organization sells it?

No it doestn happen that if the bitcoin owner will die the bitcoin also will die,becausethe memory still remain.The access to the internet is still,there were ni changes of death .There are options ,there are such case when exchanges and wallets,they can find a ways.

If the owner will die, then his Bitcoin holdings will be forbidden forever since he was the only one who has the full access on his earnings. But it can also be possible for someone to bypass it if and only if the owner trusted him all the information needed before he die. Because Bitcoin do offer a real decentralized feature that can only enable the real user to access it, it will be hard for the heirs to know and get the holdings if they do not have a direct access on the account that was leave hanging by the recent owner.

of course its value will also follow the development of value at that time must be very harmful if its value as much as it can not be used and stored forever in the wallet

Bitcoin never dies. As mentioned in the title, there are no owners anyway. It's impossible to have a bitcoin finish. The decentralized structure is presented for such situations. Something that is not governed by any person or organization will not be lost by the disappearance of one or more persons. There is no decentralization, hard intervention and sanction. Is not Bitcoin forks anyway? If it had a central structure, it would not be fork. The Bitcoin Cash team departs from the main team without making any decisions, leaving their own decisions. They have not been subjected to any sanctions. Bitcoin can only disappear in a way. If someone does not want to own Bitcoin in one day and sellers can not find a buyer then Bitcoin might say that he died. It can not happen in today's conditions.

Nope, bitcoin will not be lost. Because first of all, there's no owner and second, it is decentralized structure. And we can say that bitcoin will die, if people doesn't want bitcoin and if sellers can't sell and can't find a buyer then we can say then bitcoin will say that he died.

Yes you are right. This is kind of an advantage and disadvantage of bitcoin. Disadvantage that you will lose your coins if you forget its password and advantage for the rest as that amount of coins get reduced from the circulation and thus the selling pressure is reduced. Thats why its very important to always keep your private keys and password safe.

I have been thinking about  that too and it is not a good one so  i think it is important for at least one trust buddy should have the private key.

technically no the bitcoin is not lost, the bitcoin still in that wallet and nobody can withdraw that coin forever as long the real owner doesn't give the private key to him / her family. because in bitcoin system there are very secure system, its mean that the bitcoin maker can't give you that private key although you are the family

That's the most probable thing that could happen if ever people own bitcoinss and then they die. Those bitcoins are lost forever. I think it won't go back to circulation and it will remain in that wallet forever. I hope some company manages to extract dead owner's bitcoins and recirculate it.

If a certain person would die and his/her families doesn't know about it's private key and password I think it can't be retrieved anymore by anyone who wants to get access with it.It will remain in the wallet  forever if no one can hack it,as times goes by hackers will multiply and as I can see fraudulent acts become more and more popular and hi tech due to different concepts of technology,if we become a holders we make it sure that we will tell those person that can be trusted inorder that they can benefit bitcoins worth in the future if in case there's something that will happen to us.

Until his wallet is hacked, they will not move, pass to someone. And, of course, the owner will be the one who did it.

It seems yes, if no one knows the private key and password of the deceased person i am sure will be lost forever. Because i think no one can break the security of the e-wallet in the residence. But i do not know if anyone can take the bitcoin from the e-wallet or not. I just want to say i'm sure the bitcoin will be gone forever.

How would it be possible that a bitcoin owner will not share his private key or password to any members of his family and just leave it there until he dies. This for me is pathetic.

Over the years so many ppl died and forgot to send to someone the private key like, mom, sis or who they trust and his btc became in limbo. My mom has my private key and i taught her how to using it if i die
you should do the same !

Probably. That's the most logical event I can think of once bitcoin owners die. It usually is encrypted to the teeth so no one can access it. Companies might even still have access to it, which I hope they do, so they can recirculate the bitcoins back to the main circulation.

It becomes sad when you realize quantity of the bitcoins lost forever... Make backup copies, write wills, think of the future

Most of people is selfish.
Well maybe they will show some but the others are hidden.
If you have a wife and she's the one responsible for budgeting the money, when she knows that you keep something most of the time she will get it.
Well except if your family is very open to each other that they will not keep secret from each other.
If something like that happen, that suddenly the bitcoin holder dies and no one knows about his wallet credentials then i think it will be forever lost.

If something bad happening to bitcoin owner , it means that bitcoins can't be used without access to owner's wallet. Unfortunatly mostly people who using crypto not sharing passwords.

Well it is depend upon the situation, many people using bitcoin now, if owner die nothing will change at all, bitcoin can't easily die.

I don't think it is lost forever for sure at least one of the member of the family knows where he/she saved the password and the private key .

The dead bitcoin still exists, but it won't change again, because no one can move them from wallet to wallet. It is said that 300W of BTC has been lost.

Yes if bitcoin owner die the bitcoin also lost no one can stole the bitcoin even though a family friend relatives or anyone

If someone dies, his or her Bitcoin does not die with him or her. That is very clear and obvious. So regardless of whether the family members that the dead person left know of his or her passwords and private keys or not, the Bitcoins that he or she owned remains there. However, it might not be retrieved anymore. It may be lost to the family forever but it remains in existence. The total supply of Bitcoin will not change nor be affected by this. 

"Segwit2x fork that has been announced for 28 December proposes to redistribute Satoshi Nakamoto’s coins. "
This is interesting. Is there any reason to think that Mr. Nakamoto is not alive? How would you like it if the community you created decided to divy your loot while you were busy elsewhere?

A piece of advice.
We work hard at Bitcoin for our family aren't we? This is why we need at least one trusted person to tell everything in case if this happen. Be it your Family your wife/husband or even your best friend.

I am believe that bitcoin supply acctually less than 21million. Its happen because many people losing their private key. Many news covering this and last news that i read is people from america dumping his hardrive to trash containing more than 100million dollars worth bitcoin. And i think that happen in many place but not covering in media

It is very genuine issue raised by you sir.  Definitely in case a person dies and nobody in his family knows about his vallet address and  password they will not be able to get the ownership of the bitcoin.
Previously in the past also there have been many hurdles problems  in  certain issues which were raised time to time and resolution afterwards were invented by some intelligent people.  Likewise the issue has been raised by you; for which today we may not be having solution but in the future definitely people  will be working on it to resolve the issue and I am hopeful of getting resolution with no longer waits.  In the meantime we should let our dependents know about the treasure we are having and passwords to at least our husband/wife so they in case of death they may withdraw the money.

I think it really depends because if a person dies like for example i died but i telles someone that if i die this is my account it is all your when i die something like a will and testament like for example i have a kids and then when i die all of my butcoins will be in them and all of my account will be given to them. But if there is no case like that if you die your bitcoins will remains and if no one knows your passwords no one can access it so it will be locked in that wallet forever

yes if the person is dead and no one knows the password or private key to access his wallet, the asset will not move and can not be used. but I use simple logic, I think it will only happen in the context of wallet that has a small asset. those who have big assets like thousands of dollars, would have considered it. they will not be able to simply memorize the password and private key, they must have recorded or written it somewhere. and the place must still be accessible to their closest people. as someone said on the first page, I imagine that all of this will be like treasure hunt of bitcoin, interesting haha.

The deceased's Bitcoin still exists. If no one knows his/her account password, it is impossible to have them transfer from their wallet to another wallet. I think this is possible.

I thought it would not be like that, bitcoin owners must also have the closest child or family. Surely he will pass on a hail that has accomplished like this. If bitcoin disappears it makes us who use it not get any more money.

Yes, this is the reason why Bitcoin continues to decrease. If a person forgets his account password, he will never be able to remove Bitcoin from his wallet. I think this problem must be followed by a solution. If an account has a lot of Bitcoin, then the loss is too great.

It could be because if the bitcoin owner dies and does not die something like the privacy key where he keeps the bitcoin i'm sure the bitcoin will be gone forever. So just in case it's better to keep it somewhere so that your immediate family will get an inheritance from bitcoin if you die.

Yes if bitcoin owner dies then no one can operate or transact with his account if he doesn’t drop details before death. That is why I said bitcoin is an asset that should be transferred or documented for the sake of uncertainty

if the owner of the account with the Private key passed away of course still can be tracked by finding the private key that owned by that person. The Wallet only can be open if there is a private key. As long as the private key is not found then the bitcoin balance will remain on the wallet and will not be able to move to the other wallet, so one can access to open the wallet is the private key.

If he's too selfish not planning what will happen to his bitcoin after he died then it is really lost. This things can happen because it happens in money too. The owner died with his piles of cash and only he knows where it is and years have passed, the money just rot.

Probably the best way to handle this issue if a person is really holding huge amount of bitcoin in his wallet is to consult it on a legal matter.  He or she could ask legal assistance to make will in testament.  If the person dies, there will be designated heirs for those bitcoins the person would left behind.

Right! If the bitcoin owner dies, their bitcoin will go away forever. By buying bitcoins they will keep a password to secure their assets. Only owners know where their money is stored and where. How can we know their password?

yes of course his or her bitcoin will last forever.but for me that is only a speculation,as of now we must be brave in our daily life if we have a 1 million bitcoin now we must talk to our sister or brother to be secret and we must tell them our account so that if something will happen to us then they should know what will be the next move.

Yeah, initially I also thought that we can loose all BTC in 50-100 years. However, we had the same in fiat world - I'm sure that a lot of million $ were lost due to people depths (not all people have opportunity to devise their money to somebody).

More accurately, bitcoin is not lost forever, it just hibernates in the wallet of the dead forever, no one can use it as well as move that bitcoin unless they own a password or private key to access the wallet. In the past, situations where bitcoin owners died and bitcoin in their wallets froze, that is a story that often happens because they do not pay attention to the value and development of bitcoin, they just think bitcoin is a useless virtual asset but currently, this situation is very rare when people already know the value that bitcoin can achieve, they always store passwords and private keys for relatives, that is the plan for the worst case scenario

I think it's necessary to take care of this in advance, for example, leaving a secret key in the banking cell, which after the die will be transferred to the heritage, with detailed instructions or video presentation..)

You are absolutely correct my friend.  Who else would have to inherit all your bitcoins or what so ever other than your family members who you trusted the most.  As for me, my wife and my son should know.

The bitcoins get lost until quantum computers are developed and people are able to hack into the wallets to retrieve them. If the internet goes down, so do the bitcoins. but so does everything else. So we have to choose

Obviously, Your wallet is protected by a single password if you have enough faith in someone you can share your password with him/her. By doing this your earning will not going to lost after you. Do this on your own risk ;D

i think so . but i know that they already knew the sulotion ? ???

Hacker can get the bitcoins of the deal people but only sometimes, when people are dead the bitcoins is usually lost and there are already many bitcoin which is lost for ever and nobody ever gets them.

Definitely yes, his bitcoin will be in his wallet forever, but if there is a person that can open his wallet then probably he or she can get his bitcoin. But if no one can open his wallet then it will there forever.

Thats an interesting point!

It depends on where you keep it. If you keep it in exchange, then I just have to forgot the password.
If you save in the blockchain wallet, your bitcoin is 'lost', but it's not really missing, it's still on the network and it's just that nobody can access it.

That's why for prevention, you should keep the private key well, make a paper wallet and keep it in a safe place and make sure your closest person can access the private key

Bitcoin developer is not just one person. They have a group of people who have died when others die. Even if their leader dies, Bitcoin will not be lost forever. Their community will save it. In this way, after the age, the yug will continue in phases. Because they know the whole bitcoin database.

It will stay in the digital wallet and if the key/account information is not designated or given to someone, then it will forever stay there in the wallet. As we know it, bitcoin is just like gold, and no one would ever give their key/account to someone else while they are still alive.

I do not really know if in this case, the person is storing bitcoin in the wallet online. Do not rule out that they can access the bitcoin that we have if not accessed for several years. If he keeps it in an offline wallet or wallet hardware, the bitcoin will be out of circulation if the owner dies and nobody knows his private key.

Right now there are two possibilities if a bitcoin holder dies;

1. He has left his private key or seed phrase with his lawyer so that his executor can distribute the contents of his wallet to those stated in his last will and testimony. I would expect that this is an extremely rare occurrence for now.

2. His Bitcoins are left in his wallet address for all eternity, thereby reducing the available supply, and slightly increasing scarcity, contributing to BTC value growth.

Therefore you should prepare everything about bitcoin in the future. One example you can save like a wallet with a privacy key in it. And it can be a legacy for your family or it could be for your close friends.

If no one aside from the person owns the bitcoin knows about his account and private key, then that bitcoin will forever be locked as long as the bitcoin system doesn't change in the future. That is why I think it is suitable to have a partner in this business or even a precaution like a will when you die. You can ask your lawyer to do some arrangements with this and you have to write down your private key if you will do so.

If the person did not put the private keys in a particular folder,  then,  all of her/his bitcoin will remain that way,  nobody can get it and have it as long as the family have some idea about it and can get the private keys,  they can get it easily.

We have prepare of something we do not know when it happen for us or for our family have joined and experience at cryptocurrency, include about the wallet have we used before. Like we have much bitcoin balance on my wallet, we don’t know when we will pass away, we have give our data to our patner or could to our family, when we was pass away our family could take our balance on the wallet. If they are don’t know it our balance is gone.

yes it will deduct on the supply of bitcoin but because there is also fork it might change. but the bitcoin that was in the wallet of the dead person will stay in there forever if no one can open it because of one knew the private key of his wallet.  it cannot be transferred  as the only way hos family to have an access with it is through his private key.

I agree, sure that all large bitcoin owners will be designed in such a way to deal with the unexpected, this is natural because big assets are usually not just 1 person who hold / know. very risky to hold it alone

will remain locked Bitcoin can not go anywhere because the password who know the person who has died.

unless there is a family party who knows and appealed to a particular Exchange Fiat Local to open the id + paswword ny to move the Bitcoin.

If it died we can't use it anymore.  :'(

True, so in This Depends on the owner of the bitcoin itself, where He keeps it and how its solution to overcome things like this ... perhaps by giving a testament to the nearest person ...

yes it is, but only if the owner not give any information about their wallet.
if they give their info before they die, the balance of bitcoin wont lost forever.

Blockchain is an institution which has come to stay. It the concept of Satoshi Nakamoto but have been developed to be decentralized and is now  bigger than an individual. So the death of any  team member will not in any how affect the bitcoin as an instrument for payment of goods and services.

if that happens may be a futile profit because the investment gains will disappear then from that as an experience or a save lesson and tell the person you trust to get your bitcoin inheritance

If you do not leave a little trace to your relatives it will be lost forever. So you seem to need to prepare if you want your bitcoin not wasted in your wallet. Because maybe your relatives are in need of money when you are gone forever.

unfortunately yes. if no peoples know about your wallet information, no one can move the balance. even bitcoin developer cannot to anything about it.
if they can recover the bitcoin, it is against the security of bitcoin itself.

I think bitcoin will not lost forever if the bitcoin owner die. For me there's a substitution for him/her because there are so many person that controlling bitcoin. If he die I think he will find another to replace his position so that bitcoin will not lost or gone. I think his family will be the one who will replace his position.

Loss a private key as you lost Bitcoin! No one can help you get back on the basis of current technology, so if someone loses a private key, the amount of BTC that is locked forever.
 ;D ;D ;D

Unlike retirement funds or perhaps savings accounts, nobody has to recognize that you simply own them, or what proportion you have got in them or so a way to access them while not you. Bitcoin provides a safeguarded house for the shop of wealth which will be unbroken secret from everybody.It is one in every of the engaging options of Bitcoin for a few, however it additionally implies that it's only too simple to require a fortune of digital currency to the grave

The actual number of bitcoins will constantly decrease. People will throw purses with small remnants, people will forget passwords from purses, Computers and purses on which coins will be stored will be broken. By today's calculations, the number of lost bitcoins is more than 3,000,000

For me, i think the 21million supply of bitcoin is still the same, but if the owner of the 1 million die and no one knows about his/ her wallet will that 1million that he/she had will never affect the supply of the bitcoin, but that bitcoin will never moved on his/her wallet forever and no one can get that.

Bitcoin is a universal currency. There's a limit of 21 million. I wonder what happens when I reach the border.
They can not finish Bitcoin. It loses value, the population falls. They can not do any harm except him.

If nobody know about this wallet and also don't know password bitcoin would be lost forever. In future when people will find the way to hack blockchain everything would be returned.

Yes all people are are dying but it doesnt mean that if the owner of the bitcoin die the bitcoin lost too that a bad mistake because if the owner dies possible there is a new owner the original owner inherit it to his or her relatives so that bitcoin keeps continue in the future and people around the world are no worries

Bitcoin will be the owner of the child's inheritance. The person who knows which password is kept in a wallet. None other than that person knows, it is not possible to know. Find the wallet and password of the person in the legacy or dreams. Under such circumstance, bitcoin will remain in bad shape.

Hm, never thought about it but I don't think so. There are certain ways not to let it die. I am not expert but I think it is possible to give an access to your family protecting coins and allowing them to use it in case of emergency or if the owner dies.

Yes it is very possible. But as of now there is almost 3 million bitcoin lost because of missing private keys. if you add up satoshi nakamoto bitcoin it will be roughly 4 million and there will be only 17 million circulation supply forever. the lost bitcoin will be never ever be recovered. no one can hack bitcoin.

It's true, I also just thought about it and it will definitely be a lost treasure.
but with the longer the price will increase as more and more demand. ;D

If you do not have access to keys from friends and relatives, yes it means the asset is lost. In this, plus and minus the decentralized systems

From my experience, I'd say that the vast majority of the Bitcoin users don't share their passwords or private keys with anyone. In many cases, none of the relatives are even aware that this individual is holding crypto-currency. Obviously in such cases the coins will be lost if the owner suddenly passes away.

It could be that the deceased person is planning to inherit the coin, here the coin problem is lost forever and there is no guarantor to bring back in any way again to replace the coin.
this is where the actual role of government is needed to menengahkan it, the government can give way out or guarantee coins that do not have owners when it happens, if the government participates.

Bitcoins lost forever only when we loose private key for wallet
There is no need to dying wallet owner ))))

If you can find private key and password, then it isn't lost. However, if you lose it, then it's lost. For ever. I'm underage and I'm not worried about death, but I have it hidden somewhere they can't find it out but they will surely do it in an emergency.

Every un recovered bitcoin is deducted to the volume in circulation,meaning all that lost bitcoin will be never found ,if time comes though forute is impossible that all bitcoins in market suddenly lost of forgotten password then bitcoin is dead..unless creator satoshi nakamoto will fix this for whatever form it might

I made a similar thread about a year ago.

https://bitcointalk.org/index.php?topic=2053833.msg20477639#msg20477639

Seems like a lot of people think about considering some kind of coin recovery. However, I don't see how this could be possible without identifying yourself. And I can imagine many people prefer remaining anonymous, which of course, includes a lot of risk (loss of wallet, death or serious illness etc.).

of course, so from now on we all give the key of bitcoin storage wallet to the nearest person or family so that if we are gone, that person can manage our assets.

I think if the owner of the bitcoin dies without anyone knows how to get their password in wallet, the bitcoin will stay their because no one will know about it or access on it. Sadly but this bitcoin will be kept until the system change it. The password is too strong to be worth hacking with.

Definitely, if that wallet no one knows the share of bitcoin that users have will be stock and it will not be used in the circulation. Thus, we must give to the trusted person that we've been know since we can't even know if we will be still alive in the next days. Also, we can't even control the possible happenings that we may encountered so much better to secured in right place on our confidential informations.

I think it is not lost but it will be useless because no one can use it aside from the dead owner.I will share my private key to my love ones so that they can use it when I am gone  ;)

I think thats a huge problem with cryptocurrencies, and a huge problem espacially with bitcoins. I think there are so many coins lost forever, because someone maybe buyed some coins years ago for some dollars, and then he wasted his computer in the junk. I also think there are a lot of people who buyed some bitcoins and they died. So maybe the circulation supply of bitcoins is much lower then we think. Somewhere it was written that 30% of all bitcoins are lost forever. I think its a lot more.

of course not possible gan. because the owner of bitcoin is unlikely to run its action and its own activities there must be other parties that help the success of his business. Starch will be in the canal by others. or his child could be his family .

There is a solution to prevent it going the same solution with inheritance. If you have Bitcoin in large numbers then you think it must be inherited in your child. So in the future will come can be continued again. Will not disappear and fade away.

Well I am curious as yours, it maybe that hard since Bitcoin is a cryptocurrency, it must be so challenging to the current IT people to discover how does Satoshi come up with this kind of currency,if he is already dead,  I hope so he's not since Bitcoin is now limited in numbers we cannot have a step to do a redemption to save and prevent the possible extinction of this cryptocurrency.

If there no backup system to retrieve those lost bitcoins in the future, that means that we'll have less and less every few years. There's tons of ways to lose bitcoin and my proposition was to implement a backup that would return lost bitcoin (let's say after a period of 10 years) to the original miner.

With that, people who are holding for longer periods of time, just have to open or make a transaction not to lose those bitcoins.

That is not lost. It is still somewhere there but to no one's access anymore. That will not be deducted from the circulating supply either. Nobody would do that as there is no one who is in control of removing lost coins. There is actually no one in the Bitcoin team who has a way to determine whether the Bitcoins in someone's wallet is lost due or stolen or hacked.

I think if someone died and he own a millions of bitcoin and no one know his password, well his bitcoin is still there, stock and it will never be vanish unless bitcoin will be gone forever, but as long as bitcoin is here it will keep in the wallet.

little is known about the bitcoin creator, and even if we knew who he is, we can not reverse the system in reverse order, it goes on its own until until 21 million bitcoins are mined.

BTC corresponds to the private key, and if the owner of BTC dies, if he has his private key, then he can also get the BTC back.

Bitcoin developer is not just one person. Therefore you should prepare everything about bitcoin in the future. One example you can save like a wallet with a privacy key in it. And it can be a legacy for your family or it could be for your close friends. So the death of any  team member will not in any how affect the bitcoin as an instrument for payment of goods and services.

I think the question here is not if you should give your key to someone else or put it somewhere safe or leave it to your heirs.

The question is: what is the economical consequence of bitcoin owners dying without possibility of recovery.

Some of the people on this thread respond like this is just some trivial question. But it is not. Bitcoin exists for over 10 years now. In 50 years all early Bitcoin owners will be dead.

If it doesn't break through soon enough, this means it is over and out for Bitcoin.

Lost assets when someone dies happens all the time, especially with overseas bank accounts. if the person doesn't share those details with a trustee then yes its possible that the assets remain dormant. Bitcoin is no different. The same way your will have everything else shared with someone you trust, you should do the same with your BTC

Yes, that's right. Much better if the owner of the Bitcoin will able to share his passwords and back up email accounts to his/her relatives or the person he/she trusts because Life is short, we cannot say when we will die because in this world, We cannot handle our life. Bitcoin will be stagnant if Satoshi Nakamoto will able to die with no access on his/her accounts in BTC.

No, because if the btc owner dies, he will seek a replacement for him. Or her children who trust to run btc properly. He must really prepare such things because the time will come when he dies. And it must be well thought out, so he can not lose his all hard work.

I've heard there was a case where the person forgot about his Bitcoin wallet key, then check in Blockchain, that the amount of Bitcoin in the wallet is still the same, not reduced

so his/her Bitcoin will still be there if someone has his/her death or forgotten keys, and his/her Bitcoin will not be owned by anyone...

DO YOU GUYS ACTUALLY READ THE QUESTION FROM TIME TO TIME???? And then they complain about 0 Merit!!!

OP's question is: What is the economical consequence of the fact that if people die, supply GOES DOWN.

That's the point, ok? We don't care about your heirs and trustees.

the owener of bitcoin also not want to thinking about it and just giving the matter of bitcoin and the rest of it to the comunity to development

But the problem is, no one can withdraw or cash out whatever amount it has in his wallet, because if the person or the owner of the bitcoin dies and he/she did not passed the private key to anyone, its totally hopeless case.

I think yes,it will surely deduct to its supply.Those bitcoins will be in stagnant and can be considered lost and may even affect the value of bitcoin.If the supply of bitcoin decrease then technically its value will increase IMO.

if the owner of a bitcoin before death does not tell the private key of his wallet to another person then after the owner dies no one can open it and forever the bitcoin is locked and reduce the amount of bitcoin in circulation ::)

before it dies, sell its bitcoin, or inherit it to a child or grandchild, or wife, or brother, or sister. don't keep it alone, because we don't know the situation suddenly.

It is very unfortunate that one million bitcoins of the dead still exist, but no one can use it.

Unless the owner of the coin has passed the private key to someone, there is no way to pass the wallet to another person.

No, if you have shared the details of your wallet with a relative, he can use the bitcoins. It is actually better than banks where you will have to do a number of formalities to get the money.

If the owner will die I don't think that bitcoin will lost forever, for sure he has his assistant or a team that is controlling everything or would take care when he was gone, so no need to worry about it.

It will stay in the digital wallet and if the key/account information is not designated or given to someone, then it will forever stay there in the wallet. As we know it, bitcoin is just like gold, and no one would ever give their key/account to someone else while they are still alive.

The bitcoin will remain on the bitcoin wallet of the person who died. That is the power of being a decentralized technology. Decentralized means, there is no one owns Bitcoin or other cryptocurrency. That is the good thing about Bitcoin, and I really love it, because you don't need any personal information to get bitcoin wallet.

If bitcoin left by the owner and no one person who knows the private key, obviously will remain in the wallet until bitcoin crashes. Bitcoin "buried: the value is enlarged and decreased automatically caused by competition of trading exchange between crycptocurrency. If not used and kept in the digital wallet, can be eroded because of the administrative costs for payment of website, hosting, security, network, etcI Usually costs 1% monthly which is imposed by Party Company Wallet but there is also a wallet that no monthly administation fee.

I think that is true. If nobody know the private key or password of the wallet.dat, the bitcoin will lost forever. If it is not the case, Bitcoin will not be Bitcoin and has no necessarity to exist.

i think the bitcoin will stay to the trade. your heirs may discover his wallet only to realize that they will never gain access to the wealth inside.

It make sense.

It depends to the owner of bitcoin if he taught one of his family member about managing his bitcoin and if he taught for example his wife then his wife can just open the bitcoin wallet of the owner and she can just transfer it into a new bitcoin wallet and because of that, then the bitcoin will not become lost because it is still accessible.

I think these bitcoins are really lost to the community... Either the developers know what to do in case when bitcoin is not active for a long time, but I doubt it.

If Bitcoin owner dies, it's like the private keys are lost forever. You can save them with a trust worthy person to give it to your family in case you are dead.

if S Nakamoto doesn't use his coin, they are still existing and are counted as total bitcoin circulating because he can choose to sell them at any time. he is just  a good holder. Maybe his broke great grandchildren will start spending it but not him.:D

I was looking for an answer to that question. And as I understand it really is. This is the meaning of decentralization. That only you have access and you become responsible for your savings.

I think bitcoin will be locked forever since he did not made any arrangements of what will happen if something bad happens to him. Bitcoin is secured tightly so there is no there is no way that someone can use it without knowing the private keys. To prevent this to happen, I think it is fair to find someone that you can trust all your hardwork with and that person won't betray you I hoped.

For me bitcoin is in his account it will not be recovered without his personal information and private key. Then the bitcoin will be like that unless someone knows the owner personally. So tell his close relative before the man dies. 8)

I think no other person can access it anymore because the person did not share his account to anyone. Bitcoin has private keys and if these are lost, the money is locked down. So if you can, tell your family (or someone you trusts) about this industry and also try to encourage them to be bitcoiner as well. If you a partner in this business, things might be easier and safer.

If the bitcoin holder will die his/her bitcoin will remain idle unless there is a person know his/her personal key. 
it is better that there is someone knows your key. either wife or children

Yes, but if I we're the people I will give access to my husband/wife of even into my sons/daughter, if you don't have any husband/wife you can give it to your mother/father or else to your sister/brother so that if you die they can use all your money and not be wasted.

Theoretically, no one can access it anymore. To keep this from happening, you can ask your lawyer to arrange things that will be passed on to your relatives and loved ones. But the downside of this is that you need to write your account and private keys. And nowadays, it is hard to trust people. But since it is your lawyer, you can sue him (in the laws of our country at least).

It is good that you have where you save all these details on the side, so your family can access your wallet if anything ever happens to you

Yes because the main account iw lost so how can they proceed ? So if the main account or main wallet will lost the bitcoin too will lost too.

If a bitcoin owner will die, i am sure that the bitcoin will not lost forever,  maybe the bitcoin will just remain on the wallet of a owner, so my advice is all the holders or all the owners of bitcoin should tell them there private key to there family, so when a bitcoin owners die, there bitcoin can still used by there family.

I think what you are saying is in a way true, if I died and no one else knows the password to my accounys then that means nobody else will be able to retrieve my coins, but I think that means the supply of bitcoin or anyother coins will decrease, now this decrease of circulating supply will increase the value of the remaining supply if Im not mistaken especially if the demand of the coin is really good.

If someone die and he has bitcoin in his or her wallet it will not gone it will be stuck in its et forever, and if someone can hack or know the password of its account then it is good so that its bitcoin will continue the flow of bitcoin and it is really good for us because the suoply will not slowly gone.

In the first scenario if that were possible then at that point Bitcoin protocol would be broken and the wallet of no appreciable use anyway I presume.   The internet is designed to resist an earthquake so is quite resilient to disruption in a permanent way though it can become impaired and delayed no doubt.    If we are talking far off in the future I dont think the internet relies on just one medium to maintain communications, I do hope alot it moves away from copper wire and improves latency and resilience.   BTC itself the protocol can evolve and become better also.

Someone dying would especially need to have left a will to deal with this.  I seem to remember some kind of system but its interesting question of trust I guess

In my own personal opinion, if the owner of bitcoin dies i think bitcoin will still live because maybe there are some people like a family member or a friend who also knows how to control bitcoin for bitcoin to live and to continue. Bitcoin will continue as long there are people who still invest in bitcoin.

I am thinking that it is impossible that there is no at least someone in his life knows about his password. How about he has wife? or children? or girlfriend if he is still not married. Well I guess he also share his success and joy to his love ones because a person who has a lot of achievements and success can make a big rumors even though he is not speaking about it, his works and actions will do it.

Well since no one knows the private keys to the wallet, the bitcoins are lost forever and that only decreases the amount of bitcoins in circulation or use. It doesn't affect the total number of bitcoins. Total number of bitcoins will always be the same unless new ones are created in addition to the existing number.

In this world everything seems  possible when comes to money they will always a way out for that money to use regardless of password, there's the hacker and all that, that they can somehow manage to open it and use it or there's trusted person whom the owner knows his/her secret and if it happen that there is none of the above mention did it well the bitcoin will there but its value depends on the market it can be forfeited.

It seems yes, if no one knows the private key and password of the deceased person i am sure will be lost forever. Because i think no one can break the security of the e-wallet in the residence. But i do not know if anyone can take the bitcoin from the e-wallet or not. I just want to say i'm sure the bitcoin will be gone forever.

The answer is Yes but No ;D, If the bitcoin owner dies and no one doesn't know the password or the key to open it, it means bitcoin can't move, not lost forever.

If Satoshi Nakamoto dies, it would be safe to say that he would have a beneficiary that will inherit his bitcoins. As long as it is kept somewhere reachable online if Satoshi didn't pass his bitcoin down people would try to break into his wallet and get his bitcoins by any means possible.

if you do not give notes to the people you care about and for your family to access your wallet you have definitely the bitcoin you have become harag karun and forever stuck in your wallet no one can take it.

If the owner of BTC who is holding it may die then it has the possibility to recover Bitcoin. Inherit will recover it with the required information. If there is no inherit then there is possibility of BTC restoring it in the main BTC store due to long inactivity

I think bitcoin will not lost forever if the bitcoin owner die. For me there's a substitution for him/her because there are so many person that controlling bitcoin. If he die I think he will find another to replace his position so that bitcoin will not lost or gone. I think his family will be the one who will replace his position.

as long their family has the private key can have a full access from that bitcoin wallet, if his /her dont give the private key to them i think that bitcoin will can't accessible forever.

Yes, all bitcoin is gone but can only be retrieved if someone has the details to the account...

This is like asking if the father dies, will the son die as well? Of course not. We are high breed intellectual monkeys, We finds ways to fix problems and there is a very simple solution for your question. Just explore the forum and you will find it.

hahaha sarcastic right ? That has marveled through my Mind a couples of time . Had  No Option than to let my boy know my PASS..
Well think and pray for a long life buddy.
 Why one shouldn't be so secrective too though lol.. ::)

Unfortunately, I don't think the bitcoins can still be accessed or used hence they are lost until somehow the private keys are retrieved. But if you have someone to trust with your accounts and information, then you don't have to worry about this case of locked bitcoin. Though it will be hard to trust people sometimes, it will be good and practical to have someone to watch your back in this industry to make you sure your efforts won't go to waste.

Unless you'll be having someone whom you trusted the most like your mother, spouse, siblings or someone whom you're comfortable to share your private keys with. It would be advisable to intrust it to someone just incase what will happen to you.

I think the main supply of bitcoin is the sum of all the fictitious bitcoins present. in which case the main supply of bitcoin will remain the same even if one of those who has bitcoin is dead and no one can access its bitcoin.

Yes of course if people who have Bitcoin died, Bitcoin will follow the lost even though actually Bitcoin still in the wallet. But because no one knows the password at all, forced Bitcoin will continue to be stored in the wallet. If I personally always love to know my personal things to the people I trust the most so if one day I why somebody has someone who knows my password.

Great thread topic. Anyway, I think that bitcoin will not totally be lost but it will still be in the wallet of the deceased person account. I would perhaps suggest that people should have their succession plan just in case death will eventually come unexpectedly. Considering a big amount of bitcoin, definitely you should have a trusted individual to hold and should know about it in case it will happen.

not as I imagine, even you can inherit the bitcoin to your family if you die, I think give them access to your bitcoin wallet from now and please choose someone who can be trusted in your family

Yes unless that person shares his private keys to love ones it can access anytime. This is asked many times but no one can exactly access the wallet if a person dies and forgot the phrase or private keys. It is very vital to save the wallet or share to someone you trust it could helps.

I also think like you, but I see the development of the times today. I think 1 million bitcoin can be taken again, because very many people out there are smart to break into. hackers very much. and if it can not be taken, I'm sure there's a big change in bitcoin prices.

Supposedly thats all been  happen in my own perception, if those bitcoin owners die and  the property of bitcoin in his own would die also,if  he cannot inherit the bitcoin into his family or sibling everything also would diminished,because no one could know the private key of all his own portfolio wallet only herself,even he can put into the exchange trading market.unless there is member of his  family  that he could teach about the cryptocurrency and how to used it in the exchange market.

It is good that you have where you save all these details on the side, so your family can access your wallet if anything ever happens to you

I think if the person die and no one knows about his/her password it would still remain in his/her wallet and it will not circulate again to distribute to other because all of the users of bitcoin is unknown, So the you might be correct that the 1 million bitcoin will not be move in the circulation and the 20 million bitcoin would be circulated.  

I think if the owner of the bitcoin dies without anyone knows how to get their password in wallet, the bitcoin will stay their because no one will know about it or access on it. Sadly but this bitcoin will be kept until the system change it. The password is too strong to be worth hacking with.

I think it will be forever lost. Unless you share your password to other people in case these situation happens and i believe if you have this huge amount of bitcoin in your wallet you should have contingency plans that will be use if an unexpected and tragic events occur in the future. For example, making a will of testament from a lawyer that if something like this happen, members of the family can inherit what you own from your wallet.

I think if the initial owner did not tell all his passwords / privacy keys to the person he inherited. Then all the assets he has will be lost.

Literally speaking that would be true but those bitcoins will never be lost. We are already in a millenium period and millennials are all around us. Millennials with never-ending knowledge in computers and internet. If i have complete conviction that my deceased relative had a huge bitcoin holding, a millennial correlative can surely hack his/her computer into possibly acquiring those password and wallet informations. In the end a big win for the whole family.

 I just got this question in my mind. What will happen if no one knows about the pasword of his/her acount will it posibly deduct to the main supply of bitcoin? Example bitcoin was 21million supply and one man got 1 million bitcoin he was holding and suddenly he died no one can open his wallet is it posible that the remaining 20 million bitcoin forever and yes, the 1 million bitcoin of the dead person will still exist, but won't move anymore because no one can make them move from a wallet to another.
This, so far, explains too why bitcoin supply is limited, and decreases with time. Now it's compensated by btc mined, but mining won't last forever (bitcoin income for miners decreases every 4 years).

I think bitcoin will not lost forever if the bitcoin owner die. For me there's a substitution for him/her because there are so many person that controlling bitcoin. If he die I think he will find another to replace his position so that bitcoin will not lost or gone. I think his family will be the one who will replace his position.

If a person is super wealthy in Bitcoin, maybe s/he will prepare it and ask an attorney to put it in her/his will.
But I bet there are people that greedy enough they won't even let their family take over their Bitcoin and rather keeping it collecting dust in their wallet after they died.

PS.
I suggest you guys find an attorney who doesn't believe in Bitcoin so your funds will be safer if you decide to give your wallet info in your will.
If your attorney is a bitcoiner as well, maybe s/he will be tempted.
We can't be too careful, you know.

it will not happen, because the owner of the bitcoin is a human. Definitely have a family or very friends with him. Surely the person has inherited his property to the child or his family and his close friends. Bitcoin will continue until people in this world do not use it maybe bitcoin will stop or perish.

I think the bitcoin that was mined by a person who died will vanish on that person's wallet also as time passes by and will cycle again to the system of blockchain making it exist still even though the owner died. I was also thinking about this stuff hoping that someone would make something that will assure that all of someone's bitcoin will end up to the family as that person dies.

And it will reduce bitcoin supply to be less than 21 millions which will affect nicely on the price increase ;D
Try to save your private key in somewhere safe. Perhaps one in wallet and one at home where you can ask your family to access it later

Anyone who possesses suitable amount or huge amount of bitcoin should be having full security of it.  Full security which means for what ever happens to him, there should be someone or somebody will inherit all his properties including bitcoin as per legal process.  The owner should consult legal counsel
to arrange it. 

Stive Djobs is die, but he is alive in his IOS devises

Bitcoin has a very secure system and it can only be accessed by the private keys assigned to them. This is what we call the block chain technology and if the access codes are lost, there is no way out to use it. So be careful not to lose it and in my opinion, it will be better to have someone as a partner in this career. This will ensure that your efforts will never go to waste.

This question is the same as if we have an account in banks, then if we die whether the money in the banks will be lost? It could be yes, if we never give information to family, before we die then give all information about bitcoin to family so bitcoin can be useful for them.

In my own personal opinion, if the owner or the creator of bitcoin dies, bitcoin will not die too because i think there are some of the relatives or family members who also knows how to manage it for bitcoin will continue and will last forever. If it does not there should be some intructions written on a paper on how to control it.

As for me, I will always share it to my loved one whom I can trust the most. It is hard not to share it because no one can access your wallet but only you. Bitcoin wallet is not like banks who has beneficiaries, in the case the depositor will die, the beneficiaries can withdraw all the savings of the depositor. So, in bitcoin wallet, I will make sure a certain loved one of mine knows about it. We do not know what tomorrow may bring, but death is certain.

https://medium.com/@pamelawjd/letter-to-loved-ones-a-template-for-your-crypto-estate-planning-4ee0975434e4

Yes, if a person dies and does not leave any access to his purses, these bitcoins will be permanently blocked for general access. Therefore, each of us must take this moment into account, because life is unpredictable. It is necessary to teach at least one of your family members to handle bitcoin, explain the mechanisms of its action and tell you where to get access to wallets in case of trouble.

This is very true. Bitcoin runs on the blockchain platform so it's not easy to get it, so you need to save the password and give it to someone you trust in your home. this will be better.

For whatever length of time that no one gains admittance to the wallet and utilize the bitcoins of the expired at that point, whatever is left of the bitcoins would be lost perpetually to everybody. There is not something to be done perhaps the client may utilize a Bitcoin Center wallet with no secret key then I think in that situation somebody may gain admittance to it.

If a bitcoin owner will die, it doesnt mean that there bitcoin will lost forever,  maybe there bitcoin can not be use by other people forever but it will surely not lose on there wallet, so my advice all the holders should give there private key to a family member.

which I know very privacy bitcoin and private property only someone who knows the account and password so that when the owner forgot or died already bitcoin can not be opened and in use again so this becomes a risk.

In the world of crypto currencies, all those who have bought the bitcoins are given with the private keys. This key is just like a key for opening of some lock where a lot of wealth is being placed. You do need to have someone in your life whom you can trust blindly. You then need to share that private key with that person so that if something unusual happens, then he can claim those bitcoins.

They should get lost forever

It isn't lost however it resembles that too. Since if nobody knows his private keys, watchword or email. It is lost in light of the fact that nobody can get it and there is no real way to get it. Nobody will profit that bitcoin since nobody thought about the private key. It is constantly better to compose it in a letter like will of confirmation or have somebody that is proficient thought about it.

it is a very difficult thing, and will make bitcoin sink. for that entrust your wallet password is known by the person you love, so bitcoin will also benefit them if we die later.

if the owner and the bitcoin holder die it is certain that the assets he owns also die when no one can or has access in his wallet is certain it could be a price of a bunch.

I think bitcoin does not die even when bitcoin owner dies because it will continue to be in the future because I know that the owner of a bitcoin is so lonely that he does not want to lose his or her gap and a lot of people stick to the supports bitcoin