What happens if we die?

[Darker45]

This is indeed a realistic way of looking at various possibilities in the future. I guess if you are not well prepared and you suddenly died and no one in your family is aware of your BTC, then I guess there must be some truth on the other side of the old adage that we cannot bring our money to our grave. Because that is what will happen, your BTC will be going with you in your grave. 

[valentin68]

Bitcoin is at its beginning and as many other things it has not yet a legal base everywhere in the world. Give it time and many other people will ask the same question as you have asked yourself. Sometime in the near future, somewhere in the world, some poeple will find the "legal" answer to your question. My guess is that as for other assets that have value in this world there will be a way to will them. In other words, in the next 10-20 years, there will be a legal basis for your descendants to inherit your bitcoin money.  

[Inkdatar]

Everyone will die, and before we die we must give the best action and usefull for anyone. And this is the best time to prepare before we die, we must help anyone who need.

Yes everyone may die but before that happens you must inform your love ones about your private keys. Or put a note and your wealth in your will. We will never know what may happens in everyday of our life. Because your btc will not retrievable once no one knows of our account.

[bilman]

hmmm... i never tot of this. but i guess leaving of a will will be the way / or sending is password to to them / note down in a piece of paper and keep it in safe box maybe. . because no one is accessing it, is like when i die, every bit of bc i have die..

[Theb]

Yes that is the sad part of it. You are sacrificing that in exchange for security and privacy which is not bad. But if you are willing to give your Bitcoins on your moment of death you can always right it in your last will and testament. That advantage of this is you are keeping your Bitcoin until you are alive and all your Bitcoin will be transferred on the moment of your death. This can be a quick fix for people who have these problems.

[Nameless27]

As a single bitcoiners in the family I totally agree with you on that, we will never know if when we will be our last day in this world. And I think I have to leave a paper work for that matter or teach one of my family members even just a clue that may enough for them to retrieve my bitcoin in a wallet but I know wouldn't be an easy task. But I thank you for opening it up, I just have made an idea for this matter at hand.

[Diablesfunis]

If you die and nobody from your family can retrieve it then that bitcoin is lost forever. I teach my sister about bitcoin, told her how to send money, sell etc and i give her a backup of my private key so in case something bad happen, she can still use that money.

[0t3p0t]

Nope, this is no existential question (although...). Everybody's talking about "When will Bitcoin die", but what if you die, and your family don't find your key, or don't understand it, or think it's only a useless sheet of paper with some code on it, or simply throw it away... Does this mean the currency's gone forever?

I find the possibility of this event rather realistic (yup I don't believe in eternal life), so that means that someday there might be 21M BTC but only 18M (and counting down...) is left in the market?

I agree with you since we do not know the exact time our life ends it is advisable and is a must to make a note or even tutorial on how our love ones can claim or withdraw our Bitcoins when time comes we leave in this world unexpected. I we dies with our Bitcoin and no one knows you have it then the circulation or the supply will goes down. Same as the man who put all his Bitcoin in his hard drive take note that it was a large ammount of BTC then when the drive malfunction and became unusable he throw it into like a dumpsite and boom! He lost all his Bitcoins and I think it also deducted the total BTC supply on the market. So lesson learned is that we have to make sure we had kept our private keys in a safe place and teach one of our trusted family member to learn how they can withdraw BTC in time something would happen to us because we'll never know when we will die, much better we are prepared for it so that they can have the benefits from our BTC since we work hard for it.

[pugman]

Well, if you are smart enough to figure out how to use bitcoin, I guess your family will also understand on how to use bitcoin.  So don’t worry of your hardwork  drowning deep down the ocean.  Or tell someone extremely trustworthy to get access to your bitcoin just in case of emergency or if something happens to a you, it's just hypothetical, so be safe and God bless you!

[DoublerHunter]

Before i die i already made a simple tutorial on a notebook in my house that i keep on a very safe storage and i already told my wife about that but i tell her that they will just open and read the mystery notebook if i will die so they can have an enough funds to continue their living and build some source of income from their own.

[nuela]

If i die maybe nobody will continue my bitcoin, therefore i will do a plan on coin restoration in this situation has been much discussed in the forum. And I will give all of them to my child, by submitting his personal and key accounts.

[oktana]

If i die maybe nobody will continue my bitcoin, therefore i will do a plan on coin restoration in this situation has been much discussed in the forum. And I will give all of them to my child, by submitting his personal and key accounts.

You have to prepare from now by teaching them from basic understanding, bitcoin can be a proper inheritance pattern and you only need small notes and hardwallets like trezor to give to them at the right time, we also have to think about family survival even before you die.

[Mike Mayor]

I will assume you mean what will happen with our Bitcoin if we die. Well you should show at least one family member how to restore a wallet with the private key that way they can still have the bitcoins. You don't want them to go to waste when they help out your family so much.

valuable assets are only usefull when they are used ... and limited.
Bitcoin does this perfectly.

I love this. This is brillaint. There should be some snoooy government building there too. That picture perfectly disxeibes bitcoin. Bitcoin does not care what first on in the world Bitcoin does it's own thing. Bitcoin will steamroll anything in it's oath without a single issue as if it was nothing.

[MoneyIsDebt]

Everyone will die, and before we die we must give the best action and usefull for anyone. And this is the best time to prepare before we die, we must help anyone who need.

Yes everyone may die but before that happens you must inform your love ones about your private keys. Or put a note and your wealth in your will. We will never know what may happens in everyday of our life. Because your btc will not retrievable once no one knows of our account.

hehehe i think we don't have of think of that situation right now. yeah but if your age is above 50 and your are holding a good amount of crypto currency in you wallet then of course yes you have to but i am right now in my 20's and thinking of being died and what happen of my earning or investment if i die is just shit right now.

[eann014]

Nope, this is no existential question (although...). Everybody's talking about "When will Bitcoin die", but what if you die, and your family don't find your key, or don't understand it, or think it's only a useless sheet of paper with some code on it, or simply throw it away... Does this mean the currency's gone forever?

I find the possibility of this event rather realistic (yup I don't believe in eternal life), so that means that someday there might be 21M BTC but only 18M (and counting down...) is left in the market?

So we need to be more specific on what we were writing on a paper on where they will need to use it in case we are going to die. In my age I am not thinking that happens but my husband already knows all my wallet so maybe there will be no problem. I might tell him everything so in case I am not around he has the code.

[Tyrantt]

I remember already debating this topic and the best, and most reasonable solution imo was fhat there should be implemented a "timer" that would, let's sat after 15yrs, return the btc to the miner if they werent used in that time or simply moved or interacted with in any way. So basically if a person holding the bitcoins dies, and he didnt leave the info for anyone, then after the 15yrs of his bitcoins being unused, they'd return to their original miner.

[daenarys_stormborn]

Nope, this is no existential question (although...). Everybody's talking about "When will Bitcoin die", but what if you die, and your family don't find your key, or don't understand it, or think it's only a useless sheet of paper with some code on it, or simply throw it away... Does this mean the currency's gone forever?

I find the possibility of this event rather realistic (yup I don't believe in eternal life), so that means that someday there might be 21M BTC but only 18M (and counting down...) is left in the market?

hello friends1980

Before I die, of course I will tell all things about bitcoin including my private key, And I trust my family to know about my private key , because no way we will live forever.

[andrew24p]

There is a large possibility that coins are slowly disappearing which only makes bitcoin a better store of value. Its not like a physical bar of gold where you can claim it if you die by just picking it up. If someone doesnt know the password or the private key, essentially its gone forever. I personally have my passwords hidden in my room and hope that if I die my family could access my coins.

[Mikasa77]

Well, I have not even thought about it yet, So it's good to make a will with the private key that we have to give to people we believe if something happens to us later a good anticipation step

Yes i think we should keep our private keys to one trusted person who was very close to us so that if these things happen they can used our money that we have saved in out wallet.

[Silver.Bit]

Well, I have not even thought about it yet, So it's good to make a will with the private key that we have to give to people we believe if something happens to us later a good anticipation step

Yes i think we should keep our private keys to one trusted person who was very close to us so that if these things happen they can used our money that we have saved in out wallet.

Could also leave they keys in escrow as part of your will with your lawyer - this is a good topic for discussion in the legal world.