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Author Topic: What will happened to bitcoins after one died?  (Read 2427 times)
Smarty14392
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October 09, 2017, 11:38:39 AM
 #81

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

No one if he didn't pass the private keys or his accounts username and password on web wallets if he is storing it there. What will do you mean? Is that the last will? Just state the information needed, importing of private keys write every single detail on a piece of paper or put that in a flash drive. And if he didn't pass it on those coins will be forgotten forever and no one will ever recover that.
I love that security and safe mode of bitcoins. Even after your death if you don’t pass your private keys and passwords to anyone loyal around you, they all will be just a wastage. Better it would be and always be advised to have a copy of passwords and keys and let them know to anyone who is among top of your beneficiaries, else all your hard work will just ruined.
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October 09, 2017, 11:39:48 PM
 #82

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

No one if he didn't pass the private keys or his accounts username and password on web wallets if he is storing it there. What will do you mean? Is that the last will? Just state the information needed, importing of private keys write every single detail on a piece of paper or put that in a flash drive. And if he didn't pass it on those coins will be forgotten forever and no one will ever recover that.
I love that security and safe mode of bitcoins. Even after your death if you don’t pass your private keys and passwords to anyone loyal around you, they all will be just a wastage. Better it would be and always be advised to have a copy of passwords and keys and let them know to anyone who is among top of your beneficiaries, else all your hard work will just ruined.
Nothing will happen to the coins and they will remain in the wallet till the end of world because security system are well designed so that no one can use your coin without permission or without giving resources to anyone, and if someone is not living but owe the coins that coins will remain his, and best solution to it is sharing key with trustworthy person so that your loved one can use them in time of need.

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bubblebit
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October 09, 2017, 11:46:51 PM
 #83

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

I hope to know the legality of this because it is our investment we’re talking about and our family as beneficiaries. And me I don’t have the idea of such especially our authorities and government hasn’t yet passed a bill or even bother to studies such implementation to our country.

The only assurances that this bitcoin your holding won’t go to waste if your dead is teach your wife or your children’s about how to operate wallet to withdrawn such on the time they are on themselves alone.
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October 09, 2017, 11:48:09 PM
 #84

Who owns the bitcoin after someone died?  How to state this in the will? Please share your thoughts.
If the person knows that he will die someday, if he want to give the bitcoin, he will give the passcode and private key of the wallet to the one he trust to give and if not, the coin will be gone.
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October 09, 2017, 11:51:55 PM
 #85

Who owns the bitcoin after someone died?  How to state this in the will? Please share your thoughts.
of course someone died without take all infomation of bitcoin wallet for a other someone then all bitcoin on wallet will be lost
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October 10, 2017, 12:42:14 AM
 #86

You need a detailed will along with probably a video will. This along will detailed instructions written down should give access to all your accounts. But I believe this will be the last thing on peoples mind if somebody who is

in crypto passes. It will be unfortunate but some bitcoins due to this and forgetting passwords along the way will happen. I wonder if we will ever get the true supply amount seeing how it will never be 21 million fully.

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October 10, 2017, 12:47:05 AM
 #87

No one, no individual, no even billionaires owns bitcoin the only thing that can cause bitcoin to die is when people stop using it. This is the beauty of this currency is the fact that no one own's it or controls it unlike the centralized fiat currency that is regulated and controlled by bankers who exploit people by there debt based system. That's why many people love and embrace bitcoin because of it's decentralized nature, send coins globally, low fees, quick confirmation time and secured.

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October 10, 2017, 01:06:18 AM
 #88

Hmm... Good question. It is best to coldly store your bitcoins. If this is done, you can mention it in a will and it will be given to anyone or anything you designate.
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October 10, 2017, 01:20:35 AM
 #89

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

Maybe in the future when bitcoin gets to be as accepted and as stable as our fiat money today, maybe they will be able to do something like a benefactors or something like a transfer of bitcoin to the closest relative. But now, what will happen if the owner of the wallet died, there is nothing but loss. Those bitcoin and any other coins will be lost, unless he shared his accounts information with his family.

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October 10, 2017, 12:40:06 PM
 #90

I have seen an announcement in the alternative cryptocurrencies section that there is an ICO that is pushing hard to promote their project wherein when a bitcoin user dies, there will be the one who inherits the bitcoins he have, though I can't remember what is the name of that ICO.

Maybe you mean ICO DigiPulse. Token sale is taking place at moment. You can see in this topic or on official website DigiPulse
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October 10, 2017, 12:59:13 PM
 #91

Who owns the bitcoin after someone died?  How to state this in the will? Please share your thoughts.
If the person knows that he will die someday, if he want to give the bitcoin, he will give the passcode and private key of the wallet to the one he trust to give and if not, the coin will be gone.

Everyone dies and we are not aware when it will happen, “knows that he will die” is confusing to understand. So we must give those information ahead of time but be conscious to the one you’ve trust and it is important that someone is worthy enough for it.

Soon as the bitcoin be legalized on each country this options and process will be available, so better to be prepared.
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October 10, 2017, 01:13:54 PM
 #92

I think that you need to take care of yourself so that relatives know access to your coins and after death they could use them. Perhaps in the future will improve the transfer of crypto-currency by inheritance.

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October 10, 2017, 02:04:30 PM
 #93

If he gives complete information to the family members of course bitcoin will be safe and will not be lost, but if he does not tell anyone then bitcoin will be lost so we must provide information about our account to people we trust.

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October 10, 2017, 02:10:12 PM
 #94

Who owns the bitcoin after someone died?  How to state this in the will? Please share your thoughts.
Those bitcoins would be lost if the bitcoin holder would die and didnt even tend to pass up those keys regarding on accessing to the wallet.State this on will and entrusting to your lawyer is somehow a risky thing because you wont even know if that lawyer would tend to get those coins.
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October 10, 2017, 04:59:19 PM
 #95

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

Maybe in the future when bitcoin gets to be as accepted and as stable as our fiat money today, maybe they will be able to do something like a benefactors or something like a transfer of bitcoin to the closest relative. But now, what will happen if the owner of the wallet died, there is nothing but loss. Those bitcoin and any other coins will be lost, unless he shared his accounts information with his family.
Well that’s an issue these days, bitcoin provides you high level of security and complete control over your money but in case you forget your password, there is no way of recovering it. You cannot claim those bitcoin as yours. For the solution of this problem, it is highly recommended to share your passwords or key at least with someone who is damn close to you or mention them in your diaries etc.

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October 10, 2017, 06:36:23 PM
 #96

The coins will be lost forever unless someone finds the private keys for the wallet. A better idea is to go to Digipulse and use their inheritance service so the coins will be passed on to the selected next of kin. More info here: https://www.digipulse.io/

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October 10, 2017, 07:12:48 PM
 #97

Who owns the bitcoin after someone died?  How to state this in the will? Please share your thoughts.
Ordinarily, when one dies, their next of kin takes over their accounts. Just like in a conventional setting. Any Bitcoin enthusiast and account holder should clearly state in their will how they intend to have their Bitcoin earnings shared. The first thing to do is to reveal to your will administrator your account details and instructions on how the Bitcoin could be shared or who should rightfully inherit it.

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October 10, 2017, 07:17:28 PM
 #98

If he gives complete information to the family members of course bitcoin will be safe and will not be lost, but if he does not tell anyone then bitcoin will be lost so we must provide information about our account to people we trust.
A person can share their secrets with her wife/ Husband or with their children who are next owner of his assets, i think he should write all the information about bitcoin in a proper way so that after his death his family member can easily access to his bitcoin wallet, but he has done so then he need to take good care his important document while is alive.
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October 10, 2017, 07:19:01 PM
 #99

Far as i know after that someone who was holding bitcoin dies, all his bitcoins will remain in his wallet forever, and there is no way to take them out of there without the password or the private key, or whatever he was using to unlock it, it is impossible to recover it.
So this is what i know, i dont know if it is true or not.

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October 10, 2017, 09:14:42 PM
 #100

Far as i know after that someone who was holding bitcoin dies, all his bitcoins will remain in his wallet forever, and there is no way to take them out of there without the password or the private key, or whatever he was using to unlock it, it is impossible to recover it.
So this is what i know, i dont know if it is true or not.

With the technology we have now, this is pretty much it. It doesnt transfer to your legal representatives like your property and bank account, or even your email addresses in some cases would. So, its always better to share at least a bit of information with someone you trust with your money.
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