If a person has millions of Bitcoin and he dies one day.................

[FaucetRank.com]

If a person has millions of Bitcoin and he die one day and no body can hack his Bitcoin wallet than what will happen with those Bitcoin? Considering this situation is this possible that Bitcoin will not exists for use in the world any day since limited numbers of Bitcoin can be generated?

What is your thought on this?

[Invulner]

If a person has millions of Bitcoin and he die one day and no body can hack his Bitcoin wallet than what will happen with those Bitcoin? Considering this situation is this possible that Bitcoin will not exists for use in the world any day since limited numbers of Bitcoin can be generated?

What is your thought on this?

It would simply mean that he has lost these coins and the effective existing bitcoin supply would shrink by the amount of bitcoin that the person has lost as well. However there is also a possibility that someone recovers the address later, probably family or a hacker. Then, the actualy monetary base of existing bitcoins would increase dramatically again.

This is already done intentionally through the "burning" of coins, in some altcoin ICOs.

[pooya87]

If a person has millions of Bitcoin and he die one day and no body can hack his Bitcoin wallet than what will happen with those Bitcoin? Considering this situation is this possible that Bitcoin will not exists for use in the world any day since limited numbers of Bitcoin can be generated?

What is your thought on this?

didn't you know bitcoin could be used in the afterlife? they have miners there too

but seriously if someone has 1 million bitcoin worth 750,000,000 USD don't you think he will think of something before he dies?

and as always bitcoin is just code and if someday in 20-50 years from now we feel like there are too many coins lost (burnt,...) that 21 mil cap is not enough there are a couple of things that can change like we can increase the cap or we can even go smaller than 1 satoshi if price was high enough but all of these need a real problem in the very far far future.

[Juggy777]

There could be multiple scenarios involved, firstly let's assume no one knows it. They are lost forever. The size will obviously come down. But then what's a millionare Bitcoin and no one knows he has it, has to have a girlfriend or someone close. Or some hacker would definitely find about it. He of course would be splurging so some one would know. Maybe even make a will to let people know he has. So I don't think your scenario could be a reality where Bitcoin are lost.

[Quickseller]

It is impossible to prove that certain coins belong to a certain dead person (just as it is impossible to prove that certain coins are inaccessible to the owner), so the supply of coins would really not change as there would always be the possibility that the coins would be spent in the future.

It would not be a good idea to invalidate coins that do not move after a certain number of blocks because of the large number of reasons as to why someone might not move their coins for a long time. Also LN (if ever implemented) will make it so destroying coins after a certain number of blocks will take money from those that are actively using Bitcoin as some users might not ever have their Bitcoin balance settled on the blockchain.

[Shankara]

nothing, they will be lost forever

[Rodeo02]

If a person has millions of Bitcoin and he die one day and no body can hack his Bitcoin wallet than what will happen with those Bitcoin? Considering this situation is this possible that Bitcoin will not exists for use in the world any day since limited numbers of Bitcoin can be generated?

What is your thought on this?

If it's totally gone and the demand still higher it will affect the bitcoin price too. So if I'm the one who had million coins I'll tell to some one close to me relatives or wife  what is needed to know to open my account in case something bad happen.

[amacar2]

If a person has millions of Bitcoin and he die one day and no body can hack his Bitcoin wallet than what will happen with those Bitcoin? Considering this situation is this possible that Bitcoin will not exists for use in the world any day since limited numbers of Bitcoin can be generated?

What is your thought on this?

Yes whatever the number of bitcoin a bitcoin address was holding, if the owner dies or private key of that address got lost all those bitcoin will stay within that address nothing can be done to release it.

If more and more bitcoins get locked and become unaccesable, it will be good for bitcoin holders because this will limit the total supply that can be used ultimately pumping the bitcoin price.  

[davis196]

If a person has millions of Bitcoin and he die one day and no body can hack his Bitcoin wallet than what will happen with those Bitcoin? Considering this situation is this possible that Bitcoin will not exists for use in the world any day since limited numbers of Bitcoin can be generated?

What is your thought on this?

If nobody knows about the bitcoins in his wallet and if they are on some offline wallet then yes,they are lost.

If they are deposited in some online wallet like Coinbase,perhaprs the wallet admins/owners can steal them.

Just kidding about the second idea.

[~Bitcoin~]

If nobody knows about the bitcoins in his wallet and if they are on some offline wallet then yes,they are lost.

If they are deposited in some online wallet like Coinbase,perhaprs the wallet admins/owners can steal them.

Just kidding about the second idea.

Don't know about coinbase but lots of other online wallets don't have access to users bitcoin because they use client side encryption to encrypt the wallet file and doesn't store passwords.

Best idea is to put paper wallet or hardware wallet in bank's safe deposit box with good amount of insurance and signing the form that this should belong to your family members when you die.

[Tmdz]

Basically nothing would happen.

No one would ever know, the market would continue as it always has.  It would be the same as say a vault of gold that was unused, untraded and then tossed into the ocean forever loss.

The only event that would matter would be if it was discovered then sold on the market, prices would dip for a bit for the flood of coins then return to normal as they are traded among people.

[monocolor]

If a person has millions of Bitcoin and he die one day and no body can hack his Bitcoin wallet than what will happen with those Bitcoin? Considering this situation is this possible that Bitcoin will not exists for use in the world any day since limited numbers of Bitcoin can be generated?

What is your thought on this?

lol, the coin will be lost forever... unless, some lucky^lucky^lucky person one day installed his bitcoin wallet and found that his wallet contains millions of bitcoin. Theoretical this is possible, but the chances would be so small that practically it will never happen.

[sportis]

This is a situation has no easy answer. The reason is that it is human and has nothing to do with transaction, security etc of bitcoins. Really if someone has so many coins, no relatives who would inherit him and they  had informed from him, he had not followed legal procedures what would happened in case of death, then as we know the procedures of bitcoin protocol, coins would be rest in peace "buried" in a block in eternity.

[NorrisK]

The answer depends on certain things:

Did they owner share that he held bitcoin and give instructions to his family/in his will on how to gain control of them?

If he did not leave instructions and no clear way to acces them, they will likely be lost forever and go out of circulation.

Luckily the chance of such an amount being lost is insanely small because of the value.

[Creepings]

I feel so sad for that bitcoins. Being left by their owners and kept on a wallet forever! But, I think he will not left that Bitcoins untouched. What if he already turned that to real money to donate but he died after converting it. Maybe he has sibling to pass the account of his Bitcoin wallet. A millionaire will never leave his money. He saved it for someone before he died.

[lionheart78]

If the owner dies, and the wallet is encrypted with 2fa and has not backed up the private key, and the guys are the one person who knows of this alone, this bitcoin then will be left untouched by others.  This is simply one case of "lost bitcoin", and it will stay on that address forever.

[Senor.Bla]

if he made no plans for such an occasion and if his keys will not be found (he must have wrote them down somewhere in order to do this), then you can consider the coins to be lost. simple as that.

[error08]

If a person has millions of Bitcoin and he die one day and no body can hack his Bitcoin wallet than what will happen with those Bitcoin? Considering this situation is this possible that Bitcoin will not exists for use in the world any day since limited numbers of Bitcoin can be generated?

What is your thought on this?

didn't you know bitcoin could be used in the afterlife? they have miners there too

but seriously if someone has 1 million bitcoin worth 750,000,000 USD don't you think he will think of something before he dies?

and as always bitcoin is just code and if someday in 20-50 years from now we feel like there are too many coins lost (burnt,...) that 21 mil cap is not enough there are a couple of things that can change like we can increase the cap or we can even go smaller than 1 satoshi if price was high enough but all of these need a real problem in the very far far future.

what a pity for the person, mm I mean for those missing bitcoin. 1 Million bitcoin is too much to lost for good, I agree that for everyone here, hey everyone we should have backup data of our wallet and your beloved family could find and recover it just in case you die soon because of an accident (for example).
I always think if 21Million btc is so much, but for massive adoption in worldwide, is that enough? Well, I thought there are a lot of bitcoin that has lost in many case, so we should keep remain stay in circulation.

[shield132]

It's the similar situation: If you are millioner and you'll burn all of your money, than what? Government won't print new money in people. While number of bitcoins is very limited (21 million) than I think after 5 years of no transaction from wallet which will be online, there must be deleted bitcoins but problem here is offline wallets, there can't be done anything. Let's watch what will happen in future, I think that huge lost won't happen.

[gilangIDR]

If a person has millions of Bitcoin and he die one day and no body can hack his Bitcoin wallet than what will happen with those Bitcoin? Considering this situation is this possible that Bitcoin will not exists for use in the world any day since limited numbers of Bitcoin can be generated?

What is your thought on this?

nice thought. bitcoin has a high security system. so certainly bitcoin is not accessible when no one who knows the password. This will make bitcoin is stored permanently in the financial system bitcoin.