David Van
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April 25, 2018, 11:21:48 AM |
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I think people should serious think about it....because no one really know when will the death arrive.
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bitcoinerjawa
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Activity: 364
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April 25, 2018, 11:27:12 AM |
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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.
chances are that his assets and assets will not move at all if his arit becomes a treasure, if he does not give or inform his family like his son or his wife or his parents so when he dies his assets can be handled by the family , it should be so. |
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Odiss
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April 25, 2018, 11:28:43 AM |
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It is up to the individual to have an agenda or some kind of annotation with all the information of their accounts, emails, passwords authentications, and inform a person of confidence of his family.
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potatocorner
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April 25, 2018, 11:29:19 AM |
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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 no, it would not be the reason for bitcoin to be gone. Our local online wallet is an app and it can be linked in our facebook account, so in that case my closest family relatives can access through it and it may happen that they will use my earned bitcoin for good. They may continue to hold and invest it or to convert it into fiat and use it in practical living. |
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natalagerman95
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April 25, 2018, 11:29:49 AM |
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That's a great question. I've thought about this many times myself.
Considering the value of BTC, it is very important that people treat this the same way they do other high value assets - real estate, cash, gold etc. so you leave a way for the family to get access to these assets.
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ace9989
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Activity: 177
Merit: 11
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April 25, 2018, 11:30:42 AM |
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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.
chances are that his assets and assets will not move at all if his arit becomes a treasure, if he does not give or inform his family like his son or his wife or his parents so when he dies his assets can be handled by the family , it should be so. It is very unfortunate if someone dies and doesnt have a backup plan to give all his private key to their family or relatives. I think they can make a last will that will have his Private key included to be given to their family once they are dead. |
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Aufar
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April 25, 2018, 11:39:54 AM |
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Bitcoin will disappear because the person is no longer claiming or using it because he is dead, then they can access it and they can continue what the person left or sold and used the money for something else.
There is the best way to do this is to keep your private key safe and tell your lawyer to hand it over to your wife or family members that you want to be in charge of Bitcoin when you go.
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Crazygreek
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April 25, 2018, 11:46:59 AM |
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If something bad like happen bitcoin would be lost forver probably. Utill qunatum computers isn't exist it's impossible to decrypt bitcoin and return it to users.
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mriansa
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April 25, 2018, 11:48:12 AM |
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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.
it is certain that its bitcoin will die like the owner because no new owner can use the bitcoin he has, at least when you have assets make a small note to your family so they can open and use the assets you have. |
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Traslavin
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April 25, 2018, 11:53:53 AM |
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If the person dies by not inheriting the address of his close friend or family it will inevitably be lost forever. So we better prepare anything that will happen to us in the future. And give some access to our family.
It's bitcoin would be useless I believe that he should have even one close friend or close relatives who he can trust his wallet and his investment that in case of any emergencies his hard work would not be useless and for the hard time he could use his money or it's bitcoin without the aid of anyone's help. |
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ZNAQ Index
Copper Member
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April 25, 2018, 12:00:58 PM |
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Bitcoins are a virtual form of money protected by unbreakable cryptography. This attribute makes it a secure way to store wealth but also creates the risk that when Bitcoin owners die, their digital fortune will be out of reach forever. That’s a major problem for the relatives of tech-savvy individuals who have invested in a market currently worth about $70 billion.
If a Bitcoin owner dies without passing on the private key, his heirs may discover his wallet only to realize that they will never gain access to the wealth inside. To prevent this, the owner simply has to ensure that someone gets a copy of the private key by writing it down, storing it on a flash memory drive, or entrusting it with a commercial service that manages them.
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i_iz_vins
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April 25, 2018, 12:07:02 PM |
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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, nice question. I personally think that their bitcoins will be put in vain. If no one has access to it except you, then no one can after you die since the system does not know if you are dead or not. The best way I can think to prevent is to have a trusted friend who also uses bitcoin, or any of your family members. Let them know about bitcoin and let them earn in their own way so that they do not have to open yours then if you died,all of your wealth will be transferred to your family. |
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Jake Virus
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April 25, 2018, 12:12:09 PM |
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Well, it can only be a waist if and only if the person in question fail to give out his or her password to his/her next of king or include his crypto currency wealth in his will before he answer the last call to his creator.
Well i think if a person died, there bitcoin will not disappear, there bitcoin willl always remain on there wallet, and i think all the holders of bitcoin should trust one friend or family member and tell them there private key so when a person died there bitcoin will still safe. |
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neliawesome
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April 25, 2018, 12:14:41 PM |
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Well its normal to tell your family on all your transactions and how to access it.So that if anything happened they can easily access it.Just make sure you shared it to a trusted one because even its your family they may use your money without your approval.Just secure everything for the future ahead.
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Larrymili
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April 25, 2018, 12:23:42 PM |
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If a person died with BTC that will be a very big double lost, that is why it is not good to keep too much secret from your family, at least your wife or one among your child should know about your BTC, as for me i share my account details with my wife and also my BTC.
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noelanora99
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April 25, 2018, 12:24:20 PM |
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Well maybe, if possible, one should make a backup information in your accounts or wallet and stored it in a safety deposit bank or something for safe keeping and address it to your family incase something happens. This way your hard earnings won't become useless, and your inheritor might even make a good roll in an investment in the future.
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notyours
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April 25, 2018, 12:25:50 PM |
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If a person dies that has accumulated bitcoins on his wallet I'm sure his relatives already know what his wallet password is. Even though I am even young I already know my cousin my wallet. So I'm not afraid that if I'm lost in the world it will still be able to use my accumulated money.
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Jerzzz
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April 25, 2018, 12:28:56 PM |
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As a bitcoiner we must always think about our profit or money that is we invest in a project. All of those money will become useless if we died. So, our family must know our wealth as a bitcoiner. They must also know about our earnings, private key and wallet or account in bitcoin. No one can predict our life so, we must be ready at all times.
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GreatArkansas
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CoinPoker.com
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April 25, 2018, 12:29:54 PM |
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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.
It will not disappear to the bitcoin wallet of the person. It will remain forever, that is one of the best feature of cryptocurrency. It is decentralized, no one owns it. As long as you have the private keys, you are the only one can access your wallet. |
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evilsign
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Activity: 280
Merit: 60
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April 25, 2018, 12:36:36 PM |
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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.
Yes I ever thinking like what you are. Now I get the solution  . Why you not just make a secret code or something like that to preparing if you can't tell to anyone that you have a lot of bitcoin? I think you can tell it to your wife or your son about your secret. For an example my wife didn't know about bitcoin, but She knows that I have a bitcoin. So I tell her, if something bad happen to me, just keep my phone or my PC and learn how to exchange bitcoin to FIAT. Offcourse I protect it with a password which only me and my wife know it. |
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