If bitcoin owner die. It means bitcoin also lost forever?

[Btc_1856]

i think yes bitcoin will lost forever if owner die.
but if his own relative know the details they can recover

Maybe very soon they will find a solution for it because not OP many people thought this one before. So maybe someone will find a solution for it without losing anything because someone needs to be active in order to control the stake flow.

[guybrushthreepwood]

I just got this question in my mind. What will happen if no one knows about the pasword of his/her acount will it posibly deduct to the main supply of bitcoin? Example bitcoin was 21million supply and one man got 1 million bitcoin he was holding and suddenly he died no one can open his wallet is it posible that the remaining 20 million bitcoin forever?

What do you think will happen? The coins are gone for good. In fact, it doesn't even matter to the rest of us bitcoin users if someone loses access to their coins. In fact, it's actually good for us bitcoin holders. The less bitcoins there are in circulation the more rarer they become and the more they will be in demand. One of the main reasons that people worry about whether satoshi is alive or not is because if he ever reawakens and chooses to start selling his coins or even just moves them people will panic and the price will likely crash because of the simple fact that he has so many which could have a devastating effect on the market, hence why it is better off his coins are lost for good. If bitcoins become so rare that even one single satoshi becomes worth like one dollar or ten more decimal places can just be added to meet the demand.

[Hagmonar]

I just got this question in my mind. What will happen if no one knows about the pasword of his/her acount will it posibly deduct to the main supply of bitcoin? Example bitcoin was 21million supply and one man got 1 million bitcoin he was holding and suddenly he died no one can open his wallet is it posible that the remaining 20 million bitcoin forever?

This is why we also need to atleast note the guide how to take our bitcoin for our family member, teach them how to used it
Give them our legacy that we invested.

So our works, will not become nothing

I was thinking about it too so i was planning to right a note about of some details of my acount and save it to a secret place that only me and my love ones knows about it so no one can stole it from us.

[Hagmonar]

I just got this question in my mind. What will happen if no one knows about the pasword of his/her acount will it posibly deduct to the main supply of bitcoin? Example bitcoin was 21million supply and one man got 1 million bitcoin he was holding and suddenly he died no one can open his wallet is it posible that the remaining 20 million bitcoin forever?

What do you think will happen? The coins are gone for good. In fact, it doesn't even matter to the rest of us bitcoin users if someone loses access to their coins. In fact, it's actually good for us bitcoin holders. The less bitcoins there are in circulation the more rarer they become and the more they will be in demand. One of the main reasons that people worry about whether satoshi is alive or not is because if he ever reawakens and chooses to start selling his coins or even just moves them people will panic and the price will likely crash because of the simple fact that he has so many which could have a devastating effect on the market, hence why it is better off his coins are lost for good. If bitcoins become so rare that even one single satoshi becomes worth like one dollar or ten more decimal places can just be added to meet the demand.

Thats good also because if bitcoin got a small supply in the future the price will surely goes up how about if that small remaining supply was also gone then maybe we can say that this is the end of bitcoin.

[RomanPetrush]

The only thing i could imagine that if someone dies and before that don't tell to anyone the pin from the hard wallet, then the person holding the wallet without the pin has to wait quite long time while the technology will go futher to crack the old cold wallet.

[bitcoinzen]

Satoshi went offline after 1 week of releasing Bitcoin whitepaper so u can see bitcoin tilldate with no owner

[Guesstures012301]

Ofcourse NO, there will be a next bitcoin owner. It can be his/her son and daughters if they are using this. Or the 2nd highest position in bitcoin. LONG LIVE THE BITCOIN!

[ismart1]

In some whitepaper of some new coins, they state that the deflationary due to the fact that some existing coins are burned, and the burning process is done by sending to an address which private keys does not exist or is destroyed so nobody can access the tokens forever. There was a case when a guy dumped by mistakes some thousands of bitcoin in his hard drive on the trash and so he lost his bitcoin. If someone dies and there is no way someone can access his wallet for not knowing it exists or he takes this secret with him to the coffin, you may say that he took his bitcoins with him to the afterlife. Is like sending them to non-existing account and no one can retrieve it, so there will be less bitcoin in circulation.

[drunkcoin]

Yes, if you didn't send it to anyone in advance and nobody knows your wallet key, the crypto is lost. However there are some services like Mywish that use smart contracts (currently works with Ethereum, but Bitcoin support will be soon) to transfer money if a particular condition is followed. For example, crypto will be sent to your wife's wallet if you haven't used your wallet for a year (this could sign a death).

[udidrone]

Ofcourse NO, there will be a next bitcoin owner. It can be his/her son and daughters if they are using this. Or the 2nd highest position in bitcoin. LONG LIVE THE BITCOIN!

how can be his/her son and daughter can use that account if the question is no one can open it ? it means no one have access to that wallet and it means it is gone, no one can use

[Amelial]

Yes. Btc is still exist but can not move to other wallet bcos nobody know code of wallet

[J-N]

I just got this question in my mind. What will happen if no one knows about the pasword of his/her acount will it posibly deduct to the main supply of bitcoin? Example bitcoin was 21million supply and one man got 1 million bitcoin he was holding and suddenly he died no one can open his wallet is it posible that the remaining 20 million bitcoin forever?

Yes. But a fork might change that. As a current example, the Segwit2x fork that has been announced for 28 December proposes to redistribute Satoshi Nakamoto’s coins.

What a surprise! They offer that bitcoins which was mined by Satoshi will be distributed among the other people. This at the first will be lookt as a stealing, and at the second will crash the price of Bitcoin on crypto-exchange markets.

[Jaya912]

Yes, the 1 million bitcoin of the dead person will still exist, but won't move anymore because no one can make them move from a wallet to another.
This, so far, explains too why bitcoin supply is limited, and decreases with time. Now it's compensated by btc mined, but mining won't last forever (bitcoin income for miners decreases every 4 years).

Yes of course. I agree with above opinion. It can not move to another wallet. It is exist but nothing.
So if this happen many times to many people specially whales who hold many bitcoin, so the supply 21million is still exist but its like less than 21million coin.

[biboy]

Ofcourse NO, there will be a next bitcoin owner. It can be his/her son and daughters if they are using this. Or the 2nd highest position in bitcoin. LONG LIVE THE BITCOIN!

how can be his/her son and daughter can use that account if the question is no one can open it ? it means no one have access to that wallet and it means it is gone, no one can use

There are really person who has no trust to anybody, that is the disadvantage, so for me at least my partner in life knows about my password especially here in bitcoin, and we are listing our passwords in one notebook so that whenever we forgot at least we also have a note as a hard copy of all our needs of information.

[temdevs]

Yes that's what happened to Satoshi Nakamoto's coins. A lot of his coins are kept in his wallet and it has 0 transactions since a few years.

[Hasvak K]

Thats why bitcoin is a deflationary asset. Some bitcoin is lost permanently.

[s.mahmood]

if any one has died, but no body knows  his  passwords his bitcoin maybe  in his / her  wallet.

[jeraldskie11]

I just got this question in my mind. What will happen if no one knows about the pasword of his/her acount will it posibly deduct to the main supply of bitcoin? Example bitcoin was 21million supply and one man got 1 million bitcoin he was holding and suddenly he died no one can open his wallet is it posible that the remaining 20 million bitcoin forever?

Yes, ofcourse because bitcoin has only 21 million total supply no more no less. So if there is someone holding bitcoins and then accidentally the owner dies it will always deducted the abandoned bitcoins unless someone can retrieve it and sell it into other currency.

[SimpleStack]

Yep Lost forever

[DjTremor]

I just got this question in my mind. What will happen if no one knows about the pasword of his/her acount will it posibly deduct to the main supply of bitcoin? Example bitcoin was 21million supply and one man got 1 million bitcoin he was holding and suddenly he died no one can open his wallet is it posible that the remaining 20 million bitcoin forever?

If you die, your bitcoins get lost and they are substracted from the circulated supply of bitcoin. Because they're not circulating anymore in this case. That's why you need to get a second plan for this case.