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

[newIndia]

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?

That is what happened to Dave Kleiman.

who is dave kleiman? And how much bitcoin he have?

Probably the real Satoshi. I have given a link to follow. Now, it is up to u to go deep down the rabbit hole.

[Barbut]

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.

I think keys can be recovered from his computer or laptop, what ever he used in his life. A bit skilled person will crack it in few hours, of course if family even know about bitcoins, in case that was secret family will not call hacker and bitcoins will stay hidden.
I believe there is always a way, if someone knows about coins and make some effort coins can be recovered.

[Dudeperfect]

It would not remain his personal loss, but it will be the loss of entire bitcoin network as no one would be able to use those coins (unless there are any provisions like backup by the deceased person). There are high possibilities of such scenario as top 10,000 bitcoin wallet hold much more amount than rest of the network (correct me if I am wrong), so it will push the price of other bitcoins but it will still be the loss in the long run.

[talkbitcoin]

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.

I think keys can be recovered from his computer or laptop, what ever he used in his life. A bit skilled person will crack it in few hours, of course if family even know about bitcoins, in case that was secret family will not call hacker and bitcoins will stay hidden.
I believe there is always a way, if someone knows about coins and make some effort coins can be recovered.

well that is a wrong assumption.
because someone with a million bitcoin surely has invested that much and the first thing such a big investment requires is security and i am sure when you invest that much the first thing you do is encrypting everything and even the most skilled people can not break encryptions if they are done correctly and it is not even hard to do it .

[Wandering Soul~]

If his family knows it then they can think of something like looking for a copy of his private address (I'm sure the owner wrote a copy of it on his desktop or somewhere else) but if they don't then the coins will be lost forever and will cause a decrease in bitcoins supply, but I don't think its a bad thing cause if the demand continue to increase its price will also be .

[Carlsen]

If somebody has bitcoins in his wallet and nobody knows of them, or has a key to the wallet, then they are gone for good.
That is actually an interesting point of view: since the total number of bitcoins that can ever be mined is fixed to 21 millions, the realistic number of available bitcoins is decreasing permanently.
Not only bitcoin owners die, I'm sure every day a few passwords ar lost, or transactions are accidentally made to a wrong wallet that is not in use anymore.
This is a factor of price increasement I never thought about.

[jam23]

That is why it is important that our family know that we are investing in bitcoins.  Teach them how to use and store bitcoins.  Tell them where you store your bitcoins and write your passwords and store them in a safety deposit box which they can access in case something happens to you.

[FaucetRank.com]

That is why it is important that our family know that we are investing in bitcoins.  Teach them how to use and store bitcoins.  Tell them where you store your bitcoins and write your passwords and store them in a safety deposit box which they can access in case something happens to you.

But I have few satoshi so telling password of my wallet will not change my family members life even they will not try to check. So just think if so many people lose Bitcoin(satoshi) like me than how many Bitcoins are lost every year?

[Daffadile]

This is a very good question and is why we should all keep paper wallets in a place our loved ones have access to just incase we die. Of coarse it helps if they understand where to find it and how to use it. Not having a paper wallet for such circumstance is silly. Those bitcoin will be lost forever and the value would go through the roof since there so many missing coins.

[The-Accountant]

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?

for being a hero member you're kinda dumb aren't you? No person has millions of bitcoins and never will. Lets forget your silly ass number, lets say thousands of bitcoin and he dies then if he not allowed anyone access before his end then they are gone forever or until a quantum computer feels like taking them.

[thejaytiesto]

This is a very good question and is why we should all keep paper wallets in a place our loved ones have access to just incase we die. Of coarse it helps if they understand where to find it and how to use it. Not having a paper wallet for such circumstance is silly. Those bitcoin will be lost forever and the value would go through the roof since there so many missing coins.

If you don't specifically teach your trusted relatives how to decrypt and properly store your bitcoins, they will have to ask a third party in order to learn how to do so, risking getting scammed, or to search it over the internet and whatnot. If they are not computer literate people, it can lead to a big disaster. So if you plan in leaving your coins to relatives or your kids, you must teach them with all details how to properly get this done.

[27QVUTZj8rgZP1]

So if you plan in leaving your coins to relatives or your kids, you must teach them with all details how to properly get this done.

That is exactly what I meant in my post.

[rajasumi3]

yah u are right  that the bitcoins would be lost forever .and yes the address may be recovered by any close relative or any  computer specialist .and i would think he  would take somme precautions steps while before dieing .but this is not the case for accidents.people will never know when they will die .so  they should precautionary steps from the first.

[Cereberus]

If it was me, and I am making just an example here as I am no millionaire at all, if I die all the bitcoins will bury with me. I don't leave PIN-s of my hardware wallet, passwords of electrum and Multibit HD to no one.

Although my family is not tech savvy they can find the recovery sheet with 24 words of my ledger wallet, they can restore with it and get all my coins, my family at the max, no one other. No cousins, no one.

I like enjoying things alone, for as long as they last even if it's just one day.

[crwth]

That is what happened to Dave Kleiman.

I've read the wiki article and I think it's possible the Dave Kleiman and Craig Steve Wright could've made Bitcoin. I guess who ever they are, they were awesome creating Bitcoin.

What I think of them is someone killed Kleiman to obtain Bitcoins (depending on how much he had). Killed him for his money. Or maybe I just watch too many movies lol.

[WhiteSkinnedFREAK]

I think its pretty ovious what would hapen tho tbh

Nobody would ever be able to access them and wed be fuked my dude

[Indijanos]

well those bitcoins would be lost forever, but there was a thread here regarding the lost bitcoins. Shortly, should the bitcoins that are in the wallet that hasn't been active for over 10+ years be returned to the miners? I believe tht that system would solve the future lost bitcoins and get the lost ones back in the stream.

[Tyrantt]

well those bitcoins would be lost forever, but there was a thread here regarding the lost bitcoins. Shortly, should the bitcoins that are in the wallet that hasn't been active for over 10+ years be returned to the miners? I believe tht that system would solve the future lost bitcoins and get the lost ones back in the stream.

is this the one?

https://bitcointalk.org/index.php?topic=1708750.msg17124348#msg17124348

absolutely, here the op suggested 50+ years, but half a century seems like a lot to me, the ideal number of years for me would be 14-15,  10 years is maybe just enough for bitcoins to be returned but let's say that someone is planing on 10 year hold or something like that, there may be atone of reasons and 20+ well are a lot and if they're not spent in that time, they are probably forgoten about and will never be, so I think that 14-15 is the perfect number.

[Mr.grin]

Well, I can assure you, if there is no policy, then millions will be stored in bitcoin wallet forever. but, I think it will not last long, because it would have a lot of people who want to try taking the bitcoin from his wallet, even when he was alive. Well, we'll never know what will happen

[Ryan Dugan]

I think it is better to keep the pass keys on a USB in your safe and passwords written on paper in case that doesnt work.
The family members should be made aware of the keys and how to use them. If not then all that btc is to waste.