What if a person died with BTC!!

[ramini]

It is the same when you losing your private key or passphrase. Bitcoins stay on this address and that's all.

Sometimes the family cannot be trusted because there are some families are killing each other and when you're not so close bonded with your family members then it's better that your keys will be passed on your closest friend.

[wenjun123]

Interesting idea. But, I think, people trust their relatives, and they will have access to their accounts, will be able to dispose of bitcoin. But, if a person goes out of life, and no one except him has access, then yes, a purse with bitcoins forever disappears into being ..

[Jltan]

Private keys is very important, once lost, its gone forever. So if you hold a substantial amount of bitcoins, it is advisable to store it in thumbdrive. This will prevent the situation where "this" particular person dies and the the bitcoin being lost forever.

[boyshx]

If unfortunately a person dies with btc lying in his account it will the most unfortunate thing ever happened in his life. If a person dies and no one operates his bitcoin account the bitcoins from his account freezes permanently. If a bitcoin user really wants to pass on the benefits of bitcoins to his loved once then he must share his private key with them. We add nominee to our bank accounts, even to our insurance policy, then why not to our bitcoin account. The best option is to write down private key in a book with all the data from the wallet and then to notify two more reliable people who do we want to leave your bitcoin to. That`s the best option.

[Gens09]

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's why it is very important to share bitcoin to your family member and your friends so that in case that you die accidentally they how to open your acc or leave a notebook that will help them to claim the money you have in the btc. If I were in the situation it'll be easy because my friend know my account and he's also a user of btc and he's a trustworthy person I know my family will get the money I have here.

[zarados]

As I know, if people lose access with their wallets, all the bitcoin inside will come out of the circulation. Similarly, if a person dies and has a bitcoin inside the wallet that no one knows about the private key or seed, the bitcoin will emerge from the bitcoin circulation of only 21 million. And this is what causes the current amount of bitcoin will not reach the maximum number, because it has a lot of bitcoin missing, and it can't be restored.

[Wyne]

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.

Your question is an eye opener for me.  It makes me realize that I have at least make a certain code in case sudden death happen to me (which I hope do not happen), my love ones can at least solve it that will lead to access my wallet and my bitcoin address. I think leaving a code to solve for them will give trill just like treasure hunt that leads to inheriting my bitcoins.  Besides, bitcoin is an asset that my love ones will truly appreciate when they inherit if that fate happen.  

[iL_P4driNo]

For that you should keep a copy of your private keys with one of your family. Personally, i'm keeping them with my brother, he knows what they are but he's not involved in cryptocurrencies.

[genesis53]

If you don't trust anybody your private key ncluding to your wife or husband your BTC will also die permanently. It possible if you are a wealthy person like Bill Gates (billionaire)and you have invested BTC at least 10% of your wealth and then suddenly you got a heart attack

[J_Dubbs]

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.

I think people are not so stupid as not to leave passwords for their next of kin, the heirs will receive all the savings of the deceased and will live happily.

[Scorpion]

It's true if a person dies with Bitcion and they're the only person that knows the private key, essentially that Bitcoin died with them. That's why there's a give and take with encryption and store of value, if that person values their family they would have considered writing a will with the Bitcoin information on it to pass it along.

[Niveus]

I gave all the information to my parents. They do not understand at all what it is and what to do about it, but I'm sure that my bitcoins will not be lost.

I could pass information to my wife ... but who knows what she has in mind  

[Caesar-Giulius]

This is a valid concern. Just like fiat, people write will to give their assets and money to their loved ones. But in crypto, we don’t have such services.

I have a copy of my seeds, private keys and passwords and pass it to my next of kin who knows about crypto. So in my case, my crypto investments will still be passed on.

[Proton2233]

It seems to me that if a person died then it is absolutely not interested in what will happen to his coins. This is the problem of heirs. I think that if you had a close relationship with this man then you will know about his coins and he will not hide from you the place where it stores the passwords for account access. If you don't know that it means unworthy of inheritance coins.

[CarDioLogic]

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.

This reminded me of a story a work colleague told me: he knew a guy who had invested a certain quantity (on bitcoin) that only he knew, and the guy had a sudden health problem and died, the family probably never got access to it or even knew that he invested in bitcoin, because bitcoin in Portugal it's not such a big deal among almost everyone. He died in 2013, and probably invested in bitcoin a bit sooner than that, so he could have >100k worth of bitcoin that is now lost forever. Hopefully the family knew and got it, but i really dont think they did, considering the general public awareness of bitcoin at that time in Portugal.

[shacc]

no one can have acces to any wallet without keys and private pasword, and as mentioned in previous post, the most problem case when lost pc under any circumstance like damage will make any recover details impossible, so i see the best solution have a copy in a safe box for future

[Virtual miner]

Yes, but such an issue can easily be solved if the holder of the address gives his private key to someone he trusts. Ofcourse its risky but dying with all your btc is much riskier. In fiat such a thing is possible because the funds are lying with some central authority this is not the case in bitcoin funds are only with the person who owns the private key and no one else.

[DAVETUN]

Private keys,password will be the will of this generation,ones a person died with the private key that then its over with the wallet

[radjie]

To anticipate it, I think it would be nice if the password or account we give to people we trust, such as wife, children or people closest. So when we experience a disaster, the investment we have in Bitcoin will not disappear.

[spyerf]

between me and my family no secrets anymore, then my wife also knows the secret key of my wallet, and bitcoin is safe from losing after i leave or when i forget. It's good for mutual trust and sharing. we will not lose valuable assets