What if a person died with BTC!!

[Yarsk]

Well if no one have access to the wallet e.g having the wallet key the bitcoin may be lost forever, because without the wallet key no body can access the blockchain wallet where the bitcoin is stored. That is why is advisable for another person should have your wallet key it may be your wife, kid or even a trusted friend.

[cryptoquality]

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.

Persons that will die and they did not use their coins on their wallet will eventually become waste and will not circulate in the market. If you have a person that you have known for a very long time that is dying then just ask this person to pass his/her coins to your wallet in order for this remaining coins to be still usable in the market.

As economical system is changing, things that we need to take care is also being changed. With blockchains emerged to our life now we all should sort out our legacy plan in case something bad happens to us, at least our beloved people can benefit from our investments.

[gustaf.berg]

As many here have already mentioned, once the keys to are wallet are gone the coins inside are stuck for ever.
I think that with time, that is going to happen many times.
And that means as well that the number of circulating bitcoins is being reduced. That will contribute to an increase in price.
Maybe one day a bitcoin will be a very rare good and accordingly expensive.

That's why we should prepare a legacy plan to indicate whom will access our wallets, private keys in case we die. Usually we used to write our physical belongings like house, field, car etc and now we need to put our private key and all the necessary information into our legacy.

[Monyong]

In my opinion, my closest family is a place to share all information with everything that concerns me. If nothing else he can continue with his account and take advantage of whatever I have ...

[lautantepi]

If no one has access to the wallet, BTC can be lost forever. Make sure your family gets to your BTC. Exchange will give you more access if you have a death certificate and some verification. They work like banks. But you have a wallet and no one has your passphrase and there is no way to get it.

[changcloy]

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.

Simple ,if he died his/her all coins will always remain to his/her wallets..yes we can handover our coins or tokens to someone if you give your password or private keys to that person because if not, that coins will be useless anymore because nobody can get profit to it....so i will advice that you have a secret box that passwords and privates keys are been kept in there so if the day came you die when your family will look something in your room they will see it

[Viellefox1025]

Hi just a thought. There is a rule with banks regarding dormant account. I think wallet provider can get the content of a dormant wallet I assume they have a way the over write the key for the wallet. Not sure though

[Twentyonepaylots]

If the one who died passed the address and the private keys of his account then the btc should be fine and the one who acquired the keys can use them for their own choosing, its a lot like when you died and you gave all your belongings to someone. Its is the same concept whatsoever.

[aisyah88]

I may personally have left my nearest person and kept all the information about bills on the record and easily accessible to my family, Like me all my online passwords stored on my computer, and can ask for help from trusted friends, to help families i leave ..

[angrygroceries]

His BTC will be left there forever if noone know the password (online wallet) or the private key (offline wallet). They won't disappear, just lying over there without changing ( Unless those BTC are in a online website like coinbase , the owner of that website will take over them i guess).

I do learn something from this topic , share your private key, your password to your family to protect your own assets .

[niktuneable]

The bitcoin can be used by the family or someone else only with the private key, there is no other way. If the phantom did not a backup of the private key, nobody can access them.

[MoneyCrafter]

If no one has access to your wallet, BTC can be no loss forever. You should to give information to family or trusted person.

[maryhansenn]

I have recently heard a real case (2 weeks ago). A man died and his nephew and some It guys managed to recover all his password and accounts from his emails and from the "save password" function. I think there is a solution for almost everything

[ThePresident]

If a person died with a lot of btc to his acct, he'll pretty make sure that he has someone to left it to cause idunno whats gonna happen if a person died without leaving any consent to his family or friends to gain access to his accts.

[Xzhyte]

If the person died without entrusting the private keys to anyone, it cannot be moved anymore, it will just sit there forever. Although it will not affect the market unless you have a very large amount of bitcoins, I think its a good thing because there will be lesser circulating supply on bitcoin in the future, thus may affect the price.

[weblouartisan]

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.

The only way for cyrptocurrency to be handed to other wallet is through block chain and because of that, those people who died without using their cyrptocurrency or passing the password will be just a waste and will not circulate on the market.

[dimonstration]

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.

The only way for cyrptocurrency to be handed to other wallet is through block chain and because of that, those people who died without using their cyrptocurrency or passing the password will be just a waste and will not circulate on the market.

there may not have that for or to be pass with other for cause only he is the one to be able to know more about what he may save for even how many is that there is still that it will may look for nothing.

[CryptoPsycho]

When something like this happening bitcoins their bitcoins is litteraly dying too but only if he didn't saved information about his accounts and wallets to his relatives.

[anushkasachith888]

I found an article similar to this topic on CNBC. There are many interesting facts mentioned on the site.
Find the link below
https://www.cnbc.com/2018/02/22/your-bitcoin-may-be-lost-for-good-if-you-die-without-a-plan-for-it.html?__source=twitter%7Cmain

[cogent.tolik]

Nothing terrible will happen. Bitcoins simply "will hang" in the air.