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Author Topic: Bitcoin Holders dying  (Read 3029 times)
virtfund
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October 31, 2017, 06:24:34 PM
 #121

Every living thing will die one day. I'm not going to let Bitcoin and Altcoin I invest with me disappear. That's why I gave all my passwords to a couple of my parents. My entire family knows I'm investing. I have also read a project that will help me to inherit our digital assets to our legal heirs but I can not find it now, if I find it here I will share it.

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October 31, 2017, 06:29:30 PM
 #122

Right now bitcoin holders are making more and more money just by holding. Nothing seems to be a death for the bitcoin and now lot of altcoins have been showing downfall in value while bitcoin is moving forward and getting closer to the value of $6400.

Yes true Buddy. I don't on considering which one the thread creater had made this thread. Today price of bitcoin is 6350$.The long term holders from the price of bitcoin is 3100$ will get double the profit now.I don't know how it is possible for holder's are dying It's obviously fake news.

In any investment option we cannot say that concern option will take you this much sky rocket value like bitcoin. But bitcoin users will be able to make the money can assets holders.
Last year halving time bitcoin price was around 895 USD only but now bitcoin price touching 6350 US dollars. I think that in end of the 2018 we may see the bitcoin price as 10k USD.

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October 31, 2017, 06:29:53 PM
 #123

Even if I left comprehensive instructions I don't think anyone will be well versed enough not to totally fuck it up and chuck it away.

Ideally I won't have anything to leave. It'll all be gone.

Well if you have at least 50 BTC that will be inherited, I guess the so called not versed person will do anything and understand how this will be acquired. If the btc amount is larger enough to help love ones change their lives then why not let them have it.

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October 31, 2017, 06:32:51 PM
 #124

Could somebody please develop a product already that can retrieve bitcoins when the holder dies, then launch an ico to crowdfund it? I mean there has to be a way, maybe the wallet private keys can be unlocked using their death certificates  Grin - I don't know, I guess that's why the ideas guys earn the big bucks and I am left to scrap for satoshis.
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October 31, 2017, 06:37:32 PM
 #125

It's Possible that things like this happening on daily basis, but you it good to have someone you can trust to a point of letting the person know about your information to a certain point. Like myself I do use my phone number for verification for most of my activities so if have my info and without having access to my phone you will be limited.  

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October 31, 2017, 06:43:13 PM
 #126

Why you're saying Bitcoin's holders are dying ? When the price of Bitcoin is raising day by day and there is no sign of stopping ? I don't think the price will be lower than 6k5$ in the end of this year.
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October 31, 2017, 06:44:25 PM
 #127

I'm sure given enough financial incentive, those who are curating the estates of the deceased will search for the private keys. That and for writing Wills this will probably come up as an asset and the necessary precautions taken. Have faith that people don't want to lose money  Smiley

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October 31, 2017, 07:29:30 PM
 #128


how surprised I was when I saw such a topic. N Yes ... Very unexpectedly and made me think too Huh Huh Huh
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October 31, 2017, 08:51:02 PM
 #129

One of the prohibited changes is that we are not allowed to clean "dust". Lost bitcoins due to death of their owners or loss are considered as a donation to the whole Bitcoin community. That is what Satoshi Nakamoto said. How would we distinguish abandoned coins from the ones that were supposed to be saved for later? It's impossible and that's why we should leave it the way it is.

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October 31, 2017, 09:07:39 PM
 #130

I am quite new to this.

I can see quite a lot of Bitcoin going `missing` when someone dies. (without giving survivors your passwords etc)

I don't see this as a problem. You can just tell your family the passwords and private keys from wallet in the event of your death.

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October 31, 2017, 09:22:45 PM
 #131

I keep meaning to do something about this, but at the same time I quite like the idea of my money going with me. It'll probably only be spent squalid junk anyway. Even if I left comprehensive instructions I don't think anyone will be well versed enough not to totally fuck it up and chuck it away.

Ideally I won't have anything to leave. It'll all be gone.

As sad/silly as this may sound I agree with you on this. I have thought of ways to securely release my keys/passwords upon my death, but really there is no good way that could not also be used to compromise my security while I am still alive.

In the end I just found it simpler to increase the payout amounts of my life insurance policy. I am still young enough where the premiums are fairly small versus the insurance coverage I can get, so my family will still be well protected should I die unexpectedly. This way I do not need to leave elaborate instructions that could be found or stolen by someone else and I don't put my family in a position where they are stuck without access to money. I figure when I get much older, and assuming bitcoin is way more valuable, I will then worry about ways in which to pass along any coins.
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October 31, 2017, 09:52:38 PM
 #132

I am quite new to this.
I can see quite a lot of Bitcoin going `missing` when someone dies. (without giving survivors your passwords etc)
It depends upon personal choices,if someone is having a good amount of money invested in cryptocurrency then he should inform or teach your kin about it or at least create a tutorial in detail on how to redeem your coins,i am not sure how you came to a conclusion that a lot of coins are missing when someone dies,but there are a lot of coins that are lost as majority of them lost their private keys and with the price of bitcoin now over thousand dollars people are more careful about it.














 

 

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October 31, 2017, 09:58:35 PM
 #133

I am quite new to this.

I can see quite a lot of Bitcoin going `missing` when someone dies. (without giving survivors your passwords etc)


This sounds like people have been holding BTC for tens of years.  Grin Grin
But there could be something good in this kind of situations, BTC locked in forever helps stabilise price.

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October 31, 2017, 10:03:11 PM
 #134

I hope someone makes a completely safe way to give your family/friends your bitcoin after you die without them taking it while you're alive.  This is an awesome idea for a project in my opinion.

When people (i.e individuals being subject to various emotions and motives based on certain happenings) are involved, there is never a completely safe way to take care of things. Whatever you do, there is always some sort of a permission required from whatever entity to start the process, then rightfully claim what supposedly is meant for you and your family, etc. Best thing is to set up a multisignature where you require several entities at once to authorize transactions. It requires some level of understanding, but once the process is clear to whoever you want to set it up with, it shouldn't be an issue anymore. It's probably the closest you can come to a very decent option in such circumstances - no need for a project.

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October 31, 2017, 10:13:31 PM
 #135

I am quite new to this.

I can see quite a lot of Bitcoin going `missing` when someone dies. (without giving survivors your passwords etc)
And what is the point of so much bitcoin holders now?

I am sure some holders are so greedy that they will hold their bitcoins until they die, they will always expect to see bitcoin higher and higher and they will never sell them or use them.
Don't you see that as missing bitcoins?

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October 31, 2017, 10:20:39 PM
 #136

I am quite new to this.

I can see quite a lot of Bitcoin going `missing` when someone dies. (without giving survivors your passwords etc)


This probably happens all the time, not just with people dying but also with people sending Bitcoins to the wrong address or just forgetting the private keys. I’m sure in the early days when Bitcoin wasn’t worth anything, people just forgot about their Bitcoins. Once they are lost, they can’t be recovered. This makes the supply lower but we also don’t really know how many Bitcoins are lost because we don’t know if the private keys are known or not.

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October 31, 2017, 10:43:48 PM
 #137

I am quite new to this.

I can see quite a lot of Bitcoin going `missing` when someone dies. (without giving survivors your passwords etc)


My girlfriend knows my wallet password & I’ve told her a couple of trustworthy buyers on localbitcoins. I suggest everybody do the same, make sure if you’re not around that a loved one can access your stash.

seems extremely dangerous to leave your password with your girlfriend
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October 31, 2017, 10:48:49 PM
 #138

If you die and nobody knows your private key then your bitcoin will be lost forever. Maybe you can store it on a paper so you have a backup when you die. This will enable your family to claim your coins or even bitcoin. If you have it stored it locally don't forget to write down your password of the computer also. xD. This is one option, but i heard that there is also a script that asks you if you are alive. Maybe you can search it on google for more information.

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October 31, 2017, 11:26:43 PM
 #139

What happens if you die a beggar with no life and specially with no girl to at least jump her for once? what do you think will happen to 900,000 Bitcoins belonging to Satoshi? at least let us have these new Bitcoin forks idol, lol speaking of idol, people idolize me some where else(helmet heroes) here I'm just a beggar idol. lol this topic could only get this constructive post out of me. Bitcoin holders dying, no body having Bitcoin will ever die, they could get everything they desire in life. bank robbery is less profitable than holding Bitcoin.
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November 02, 2017, 08:59:02 AM
 #140

I am quite new to this.

I can see quite a lot of Bitcoin going `missing` when someone dies. (without giving survivors your passwords etc)


It's not that easy any bitcoin fails because it takes a process to thwart it, so do not hesitate about this bitcoin

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