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

[QuestionAuthority]

This makes no sense at all Nakamoto has soo many coins, we dont know how many coins in total he had mined, we see some of the wallets he used in the past, maybe not all his portfolio, but even as developer im ceptical why he hasnt sold his coins at 1000 dollars, and neither now, those means milions that is enought to have an amazing life further. I do believe he is dead or lost the keys to those wallets, thats the only way a person has soo many money stucked at bitcoin for no reason, i doubt he were expecting bitcoin to reach bigger values then 1000 dollars.

Life is all about the journey bro. He might want Bitcoin to succeed more than he wants fame or money.

“A leader is best
When people barely know he exists
Of a good leader, who talks little,
When his work is done, his aim fulfilled,
They will say, “We did this ourselves.” ― Lao Tzu

[Ipwich]

That would be a tragic that would be happening on his wallet,we can never tell that he invest and trade it,and there's someone he already trusted and already know about his millions,that person will inherit his millions of bitcoins.I don't think that person is not that wise enough just wasted what he is working hard for,he already planned on what to do on his millions of bitcoins.

[noictib]

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?

With the simple words , It is a very complicated topic because It happened with me .
I made start bitcoin earning in 2011 and left it because there was no much idea to make money but that time about  I was using freebitco.in site and spread my refferal in the many bitcoin Facebook groups and forums , when some person joined through my refferal then I got about 0.01btc in 6 months but I had already left my bitcoin job and wallet was unrecoverable because my email was unrecoverable due my misunderstanding but about a months ago I get succeed in recover my wallet . There was everything same like was earliar .
So here if I will not use my bitcoin then it will remain as was without any use .

[ASHLIUSZ]

If such thing happens, nothing can be done. It goes wasted, similar to a person who threw his hardware wallet into the garbage in which he had saved more than 7500 bitcoins. And in a short term when he searched for it, its been destroyed. Better is to understand its potential and make it understand to the future generation. So somehow it gets used.

[thepo1m]

It will be a pity if such thing happens, to distroy such huge fortune and there is still very high possibilty that the price will increase, but there is nothing we can do to restore it without having access to the wallet.

I know some BTC must have been lost but 1 million is a huge figure

[carlerha]

If such thing happens, nothing can be done. It goes wasted, similar to a person who threw his hardware wallet into the garbage in which he had saved more than 7500 bitcoins. And in a short term when he searched for it, its been destroyed. Better is to understand its potential and make it understand to the future generation. So somehow it gets used.

so many milliniors died on daily basis, their properties are distributed in his inheritance, so if his wife or children or parents know about his wallet key then they will distribute his bitcoins according to the law other wise they will lose all his bitcoins if he do not know about his wallet key.

[webtricks]

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?

Person having millions of Bitcoin isn't a one with bullshit mind. He will surely prepare "will" for his Bitcoin too. Something like written private keys or web wallets' password on paper and put it in his locker. lol! 
Well, if Bitcoin once lost, not possible to regain. The required amount goes directly to scrap!
One more thing, you are talking about millions of Bitcoin! 1 million Bitcoin is 4.76% of total supply. Surely such thing gonna change Bitcoin community forever.

[layoutph]

Thats what the bible says, what shall a man profit if he gain the whole world and lost his own soul. It means we cannot bring material wealth after death. Our life on earth is temporary so do the best of it.

[Loganota]

If this happens, I think nothing should happen to the wallets of these people, consider lost and the total of available coins will decrease. I do not think it's fair since somebody can get this wallet even if it's 10 years later. The idea I saw after some time erasing those coins for me does not make sense.

[ReLieD]

It is a hypothetical situation by the way.
And blockchain has the record of all accounts
If they get any information like the one above, they will first cross check then if there is no family member who is claiming that then they would probably charity that money or use it for someone's benefit.

[Snorek]

Life is all about the journey bro. He might want Bitcoin to succeed more than he wants fame or money.

“A leader is best
When people barely know he exists
Of a good leader, who talks little,
When his work is done, his aim fulfilled,
They will say, “We did this ourselves.” ― Lao Tzu

Thanks for that brilliant quote. It is totally adequate to what Satoshi did! He created something great and then leave it to people.
I am convinced that his move was calculated and it is an experiment to see if we are ready to handle the concept of decentralized money.

Also there is no need to worry about lost bitcoins, they are just make our coins worth slightly more.

[ralle14]

It will be a pity if such thing happens, to distroy such huge fortune and there is still very high possibilty that the price will increase, but there is nothing we can do to restore it without having access to the wallet.

The coins won't be destroyed just because the person died and no one can gain access to the wallet, it'll just be unspendable together with the other unspendable addresses like 1BitcoinEater.

[whizter]

If such thing happens, nothing can be done. It goes wasted, similar to a person who threw his hardware wallet into the garbage in which he had saved more than 7500 bitcoins. And in a short term when he searched for it, its been destroyed. Better is to understand its potential and make it understand to the future generation. So somehow it gets used.

so if he share his wallet key then he can get his millions of bitcoin, and can distribute it in his family, but if no one has the key of his wallet thin there is any other way of recovering his wallet and all bitcoin will be wasted.

[nikilavi]

He will or can prepare willfor his Bitcoin . Like written private keys.
Well, if Bitcoin once lost, not possible to regain.
And also you are talking about millions of Bitcoin! as far as i remember i guess 1 million Bitcoin is around 5-6% of total supply i guess. If that happens it will affect us a lot i guess.

[HabBear]

The money supply wouldn't be changed. The bitcoin haven't disappeared or been removed from the money supply, they just can't be accessed.

And given that we have zero way of knowing how many bitcoins are "lost" the market can't respond to these scenarios, positively or negatively.

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.

The moral to this entire discussion is - make sure you have backups of your private keys or BTC locations and provide instructions for someone if something should happen to you!

[ifightformerkel]

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?

Then of course the bitcoins will be gone forever.

So when every bitcoin holder will die than theoretically bitcoins will be also dead.
But i dont think that someone is holding this big amounts of bitcoins.

[kidoseagle0312]

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?

I guess if that happen, we do nothing about it, and of course the person who die it is obviously He loss everything, all the efforts and time he saved for bitcoin will goes to nothing, though no one can take it from his wallet address I mean none of it can hack it. It just like will be bury in the ground.

[Gleb Gamow]

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?

My thought is that you're most likely this guy - https://bitcointalk.org/index.php?action=profile;u=833860. How close am I?

[virasog]

If this happens, I think nothing should happen to the wallets of these people, consider lost and the total of available coins will decrease. I do not think it's fair since somebody can get this wallet even if it's 10 years later. The idea I saw after some time erasing those coins for me does not make sense.

Yes, I guess, this thing will happen if this is the case or situation and this should happen that the coins will remain on his wallet and be stock on and since it is stock on the demand of bitcoin increases because his coin is not moving.

[cr1776]

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?

The only person (or group of persons) who potentially has even close to one million bitcoins is Satoshi, so a person having "millions [plural] of Bitcoin" as of now is impossible.  Someone could purchase one million bitcoins, but that would disturb the market so much that by the end they might have paid many 10s of billions of US dollars for them, but it is of course possible.

As far as what happens if he were to die, did he have his private keys somewhere others could access it/them?  If so, someone else (his heirs) can access them.  If not, then they are lost, probably forever*.


* I say 'probably' because we don't know how the private keys were generated.  Perhaps the PRNG was bad, he used a brain wallet and someone discovers it or something else.