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Author Topic: What will happened to bitcoins after one died?  (Read 2342 times)
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April 09, 2018, 03:50:23 PM
 #261

Who owns the bitcoin after someone died?  How to state this in the will? Please share your thoughts.

If you leave the details of your investment like private keys, then your family members can access that money. Otherwise that money is lost forever.
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April 09, 2018, 05:24:53 PM
 #262

It's very simple to solve this problem, (actually, just a close envelope with access data is enough) but you have to think NOW!

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April 09, 2018, 05:27:01 PM
 #263

Who owns the bitcoin after someone died?  How to state this in the will? Please share your thoughts.

If you leave the details of your investment like private keys, then your family members can access that money. Otherwise that money is lost forever.


It is very simple and exactly one has to share the details with the family members and let them know that you have invested or bought this all coins and kept in which wallet. Else you will lose out your hard work and money earned from this crypto currency.


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April 09, 2018, 05:30:16 PM
 #264

Who owns the bitcoin after someone died?  How to state this in the will? Please share your thoughts.
It is like with bank account, if he didn't give whole things like email number or special numbers to his account those bitcoins will be forever his and no one will be able to touch them.

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April 09, 2018, 05:46:04 PM
 #265

Who owns the bitcoin after someone died?  How to state this in the will? Please share your thoughts.
If you want to anticipate this, you can provide all the passwords and private keys on your account and wallet to someone you trust or can be with your family, because after all bitcoin is a valuable asset that must be passed on ownership to be useful to people around.

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April 09, 2018, 06:04:39 PM
 #266

Who owns the bitcoin after someone died?  How to state this in the will? Please share your thoughts.
If you want to anticipate this, you can provide all the passwords and private keys on your account and wallet to someone you trust or can be with your family, because after all bitcoin is a valuable asset that must be passed on ownership to be useful to people around.
It depends who would you want to hold your bitcoin, your legal wife or the mistress, it is sad to tell that we need to answer such question, of course if not in our husband/wife then it must be in our children if they are already at least a teenager but if not then it should with our friend who are close to us or our relatives.

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April 09, 2018, 06:12:29 PM
 #267

Who owns the bitcoin after someone died?  How to state this in the will? Please share your thoughts.

No one owns it, because it will remain on the wallet if the access to the wallet is not transferred  to some one before the owner dies. Even if someone lose their access to their wallet, no one will even be able to use that bitcoin. So, it is better to make sure that some one in your family or some one you trust knows your access to your wallet.

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April 09, 2018, 07:26:10 PM
 #268

Who owns the bitcoin after someone died?  How to state this in the will? Please share your thoughts.

No one owns it, because it will remain on the wallet if the access to the wallet is not transferred  to some one before the owner dies. Even if someone lose their access to their wallet, no one will even be able to use that bitcoin. So, it is better to make sure that some one in your family or some one you trust knows your access to your wallet.
Of course, if you are going to just give away your passwords, go there to your relatives, so that in case of an accident your Good is not lost, then all of this needs to be taught to your relatives, at least to the original basics of crypto currency.

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April 09, 2018, 07:31:27 PM
 #269

Who owns the bitcoin after someone died?  How to state this in the will? Please share your thoughts.
If the owners of bitcoin dies and did not give out the password to his or her wallet to his family then the bitcoin will remain in that wallet without anyone to get access. 

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April 09, 2018, 07:39:25 PM
 #270

Who owns the bitcoin after someone died?  How to state this in the will? Please share your thoughts.
this is what I fear happens to me, whenever someone can die and who knows when he will die,
therefore I keep a written will about what I leave to my family and I keep it in a Bank.

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April 09, 2018, 09:44:56 PM
 #271

Who owns the bitcoin after someone died?  How to state this in the will? Please share your thoughts.
Never forget the person that has the private keys is the one that owns the bitcoin it's as simple as that, that means that if you die and no one knows the private keys of your addresses then those bitcoins are lost forever, so the only way to protect your bitcoins is to somehow give access to your private keys to your inheritors but only after you have died.
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April 09, 2018, 10:46:28 PM
 #272

Well if someone died He/She should secure the security of the wallets and give it to the people or family that he will entrust his coins. He should write down or keep on the USB all the username, password, wallet address, private keys etc. to be able to access by his family or anyone whom he wanted to give the bitcoins.
Yes it should be done on all bitcoin users, but it would be safer to store it on a paper which is then stored in the safest place, but if it can store it in many places then it will be better.

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April 09, 2018, 11:38:17 PM
 #273

Who owns the bitcoin after someone died?  How to state this in the will? Please share your thoughts.
If someone have bitcoin and she/his dying much better give to the person they trust all there private key and email so they can open it when it's needed. But I think for me only few people can do that because they can convert to cash if they want and give to their family  that they trust.

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April 09, 2018, 11:44:51 PM
 #274

Who owns the bitcoin after someone died?  How to state this in the will? Please share your thoughts.

This is good question because thats could happen to anyone. If we want to share our private key with others, everybody always talk to us that we should not share it. But maybe we can seal our private key and place it on deposit bank so our dependant can take it when one holder died


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April 13, 2018, 11:45:27 PM
 #275

Who owns the bitcoin after someone died?  How to state this in the will? Please share your thoughts.

It's relatively simple to determine who controls a Bitcoin wallet. It's the person with access to the keys.  Cheesy

If you do not make preparations for the future, your coins will remain inaccessible to your loved ones for eternity.  Or at least until quantum computing becomes a more viable thing. Make sure to state your Bitcoin in your will and testament, or at the very least, leave your key with a trusted party, in case of your untimely demise. Given the potential for price growth, I would rather be safe, than sorry!
There is also the chance that someone out of luck is able to generate the same address and the same private key that you have, that is incredibly unlikely but given enough time it can happen, this is one of the main reasons of why we need to take precautions and to keep our relatives up to date about the measures we have taken so that money is not lost.
It is not possible for two people to have same address. In that case it won’t be treated as two different entities, rather it would be one. In simple words, no two houses in this world have same address or else it would be the same house.

Same stands good for the private key. Every holder has a unique address and private key that only belongs to him.And if someone dies, those coins are as good as gone.
You are mistaken, it's completely possible for two different people around the world to generate the very same address it is called address collision, and this means that they both have the very same private key so any funds in that address can be controlled by those two people, as I have said that is incredibly unlikely but it can happen and it could be a way to recover some of the lost coins.
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April 16, 2018, 06:57:38 AM
 #276

I think this will be a colossal issue in digital currencies in future. So the a great many people who claim cryptographic forms of money in the previous years and pass on, they dont tell other individuals or their relative the amount they possess and where the shroud their private keys. So I think in the past there are a ton of bitcoins wo where lost. Sooner or later they begin to dump all their stuff. So in the event that you are brilliant you should tell in any event your folks or somebody who you need to give you cryptographic forms of money when you pass away.



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April 16, 2018, 07:11:55 AM
 #277

All things considered that was an impediment of being excessively secured in the record of Bitcoin in light of the fact that we can't have the capacity to outperform anybody's record. So when somebody who claims Bitcoin bite the dust, nobody will profit on it unless he leaves his email account together with the secret key so somebody who he trust will going to have an entrance with it and for beyond any doubt he was the beneficiary of the Bitcoin account proprietor who have kicked the bucket which most likely advantage his part.
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April 16, 2018, 07:33:31 AM
 #278

It will be a big lost if the owner dies. What my resolution to this situation were all that I do is for my family. This is something that I need to assure that my Bitcoin will be pass to my wife, son and daughter. What I do is to provide a safe were password is shared to my wife, so whatever happen to me my wife knows what to do. Where on that safe is kept the hard file and USB where all the keys to my Bitcoin account is save. The second option will be a bank deposit box. Same what my safe has, added will be the will. How will it be dividend or who will continue it.

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April 16, 2018, 05:36:05 PM
 #279

Bitcoin is just another form of money/asset class and we can mention in our will that the private keys, exchange login/KYC details, hardware wallets, paper wallets should be handed over to the X person(s) in case of his death or inability to act in a sound manner. However, I would recommend you consulting your legal consultant to make sure that you are making right choices of words while preparing your will.

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April 17, 2018, 05:05:35 PM
 #280

Bitcoin is just another form of money/asset class and we can mention in our will that the private keys, exchange login/KYC details, hardware wallets, paper wallets should be handed over to the X person(s) in case of his death or inability to act in a sound manner. However, I would recommend you consulting your legal consultant to make sure that you are making right choices of words while preparing your will.
While that is a possibility, at the same time we need to recognize that bitcoin is very susceptible to theft in that particular point, your lawyer or anyone that you trust in order to give your private keys to your loved ones could steal your bitcoins because you need to remember that the one that has possession of the private keys can do whatever he wants with those coins.
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