What if a person died with BTC!!

[Clos Belmont ICO]

Fortune magazine recently had an article about this. It's a good question. I keep access to my accounts an encrypted database. My wife doesn't have the password. But I think I'll make a copy of it that she can keep on her encrypted database.

http://fortune.com/2017/09/26/cryptocurrency-bitcoin-death/

While I red this question I remembered the same article

At the moment, there are ways to save currencies even after death

[1714861911]

1714861911

[1714861911]

1714861911

[moamin77]

Unless they share the secret (info, keys...) with someone, the 'crypto' asset will be lost with their death!
Maybe keeping the info on a piece of paper that their family can find

[jobjorn]

I think it is quite dangerous if you have a sudden death. no one can access your money anymore and I think it should have already happened somewhere in our world. It is quite an important question to answer if we really want to make bitcoin as the storage medium for our life saving.

[haileysantos95]

What will happen??

No one will have the BTC address. Hence will them isolated?

In FIAT, people can handover money to someone.. So, i predict BTC will be disappeared gradually.

If a person died and that person is actually owning bitcoin then that bitcoin can be gone forever, if someone knew the log in details on that persons account then it can be acquired but without it all the bitcoin will be stack in that address.

[kriticko29]

Well since bitcoin is a large amount of money i think those people who have bitcoins will entrust their private keys/passwords to someone they love. It can be used for their future when that person died.

[akiraminai]

I think BTC will be like "money" deposited in the bank, when the owner dies, the bank will claim the belongings of the owner if ever there's no one the owner passes onto. I think the founder of the wallet websites can collect it maybe ?

[nethan1btc]

Depend if he/she has backup and someone know the backup it still can back but if he/she doesnt have backup it will be lost and  you will never can get that bitcoin back

Yes it is still depends, so if a persons will died and love ones dont have a copy of a private keys all of your wallet of btc will also not open. We know we dont know whatever will happen on us anytime, so better save and let your family knows about your wallet.

I think it is not necessarily to let your family knows about your online wallet because even they know about our online wallet they haven't still know how to use it and if we died accidentally then we are nothing to do about it. That is our destiny we can't stop that moment and much better to forget all we have while we are still  on earth so that there will be no problem to be facing off.

[Nhor1011]

    Will ,if a person died with bitcoin,his or her bitcoin will still in their wallet,no one can claim and use it unless there are person or their family know their password,email,private key and evrything just to open his/her account.

[icanscript]

It is important, not only that the family had keys and passwords. It is still necessary to teach them how to use it. Without having the necessary skills, you can destroy any information, and with it a crypto currency in your wallet.
But the memory of you will remain in the castle forever!

[rasmadisulaiman]

After I read the question from you, I think to make the archive of BTC address and the key. I will make a will that I will go to my family if I die, so the family can use bitcoin after I die.
If I do not do those steps for sure when I die, the bitcoin I have will be useless.

[kiddeon123]

i think that if a person die and they dosn't told anyone about their private key, then their bitcoin will be buried with them. So I think you shoukd share youre private key to your family or secure you private key in a treasury then give the key to your wife and tell her to open it if you died. in that way yiyr famiky can benifit from it when yiu die 

[judemarco1996]

thats a good question

[Ch1bi]

If someone died with Bitcoin, let's hope they left their private keys to someone. I feel people should treat it like any other important asset and leave it to someone just in case anything happened.

[gabmen]

What will happen??

No one will have the BTC address. Hence will them isolated?

In FIAT, people can handover money to someone.. So, i predict BTC will be disappeared gradually.

Well if that person didn't have the foresight to trust family members about his crypto assets, then all his btc will surely be buried with him. That's one of the risks as well if you're going to entrust all your private keys and passwords but better to educate your family about btc first

[imteaz]

Well, there will be 4 million btc missing due to lost private keys, lost wallet, people died, etc and those will be never recovered.

[PLAYSE2]

I leave all my passwords and private keys inside a compressed file, maybe it will be missing.

[ynatopak14]

What will happen??

No one will have the BTC address. Hence will them isolated?

In FIAT, people can handover money to someone.. So, i predict BTC will be disappeared gradually.

that person has his/her details of wallet and exchanger info, such as password email addresses and private key saved on his/her computer.
like me it is saved on my computer way down on some folders which is hard to see by any other even they used my computer, though i have some notes left for my wife or my children to see it once something happen to me,
the bitcoin or any crypto on his/her wallet will not be gone nor isolated as it will remain on that wallet for the rest of the time.

[Halcyon Days]

For now, the BTC amount the person had, will be lost. Many people also lost their password to their BTC wallet along the way, meaning these coins can also not be recovered. Overall, you should make sure, that someone you are close to (family, wife/husband, etc.) can retrieve the password just in case.

There was some speculation, that once quantum computing is available, all kind of passwords (banks, internet, and even BTC keys) could be retrieved in a fast way due to the increased computing power. Hence, sometime in the future, it might be possible, that people will "search" for lost wallets to retrieve the key.

[learner 7]

Yes it is very unpleasant for relatives who will not be able to obtain an inheritance. For MEW, there is an extension that transfers funds to another address after a certain time - MyWish Token.

[nilbtc4555]

well honestly to say that if it happen that someone die with his/her BTC wallet privet key, it won't be possible to excess his/her account and rescue it from there.So i think it is our responsibillity to make a paper wallet of our cold wallet and give a copy to your loved ones as a backup/nominee.