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

[virendarnagpal]

It is very genuine issue raised by you sir.  Definitely in case a person dies and nobody in his family knows about his vallet address and  password they will not be able to get the ownership of the bitcoin.
Previously in the past also there have been many hurdles problems  in  certain issues which were raised time to time and resolution afterwards were invented by some intelligent people.  Likewise the issue has been raised by you; for which today we may not be having solution but in the future definitely people  will be working on it to resolve the issue and I am hopeful of getting resolution with no longer waits.  In the meantime we should let our dependents know about the treasure we are having and passwords to at least our husband/wife so they in case of death they may withdraw the money.

[Fatemablabla]

Yes it will lost forever.amd its a huge lose i guess.but i guess its not fair to tell anybody about the password.but i guess you may try a hacker.haha.joke it was

[StacksOfDash]

You should make your master wallet multisig and give different keys to your family and show them how to retrieve funds in case you die.

[enjotan]

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 question is asked many times before.Why not just search around the forum,instead of posting new threads.If the bitcoins are stored in a cold storage-hardware wallet ,somebody could find it and conduct a brute force attack with some software and crack the password.If the bitcoins are on an online wallet,the company that runs the online wallet service could deactivate his account due to inactivity and get the bitcoins.

you are right, I agree with what you say.
this is the correct answer of all questions similar to the OP post. I think if there is no heir, obviously bitcoin will move over to the company that manages the wallet.

[Usafstar]

I think the question regarding bitcoin supply is good but the owners is not a fool before all this they must have discussed these things with family members and all these can't stored in mind only they are using it for many reasons the companies are using this the family knows this business of bitcoin the traders have partners whom knows about the current position of bitcoin. If some one keep all secrets and they have not shared any thing with one then it is true that bitcoin will be lost and may if the owner not used their wallet the miners theft that bitcoin.

[KaiKai125]

YES。

[carlfebz2]

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 question is asked many times before.Why not just search around the forum,instead of posting new threads.If the bitcoins are stored in a cold storage-hardware wallet ,somebody could find it and conduct a brute force attack with some software and crack the password.If the bitcoins are on an online wallet,the company that runs the online wallet service could deactivate his account due to inactivity and get the bitcoins.

you are right, I agree with what you say.
this is the correct answer of all questions similar to the OP post. I think if there is no heir, obviously bitcoin will move over to the company that manages the wallet.

People wont really bother to use up that search bar top right for this site and as being said this question been asked for how many times already.For the sake of relevant reply then once bitcoin have been stored up on a wallet which you do own its private keys then once you died then those coins cant be longer accessed by anyone if they don't have the keys but in case to case basis which I agree on the thing if those coins being stored on online wallet then possibility that company can really access it since they do have the key.

[xwshamim]

yes, it will be lost if he don't give anyone his password or private key..so I think everyone should tell his password to his trusted anyone or family members

[Mei1418]

I think bitcoin developers are not just one person, they have a team and when one of the discoverers of bitcoin dies, I think there are others who know the system in bitcoin, even if their leader who dies is in control. certainly in that team also trying to take the stored bitcoin. because most likely they also know the entire database in bitcoin

[spyerf]

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?

i think yes, but it depends on the market, maybe he/she trust someone and gave the private key just like a benificiary

Maybe you did not realy understand about my question right? My question is what if the person die’s and no one realy know and no one can open he/she’s acount. The point is the lost bitcoin will deduct to the main supply of bitcoin because no one can move that. Just like a lost treasure or something?

I think as you say, bitcoins are locked like no treasure found. bitcoin will remain but not moving until there is a hecker that can find it.

[Madmim]

I read about this somewhere. It would not be possible to hack bitcoin for next 25 or 30 years. So even if a bitcoin holder dies and leaves no way to recover it, then those who can hack bitcoin will be able to recover those coins. But in the mean time it will be out of circulation and will increase demand for bitcoin.

[NavI_027]

Yup! That 1 million btc will be stuck on his wallet as long as no one knows his private keys/username and password. So if there's a person who will nearly die, I advice him to pass all of his bitcoin earnings to someone who deserves it or just withdraw it then divide for charitable works so that his treasure will have a purpose and will not remain as significant numbers.

[dimastegar]

Bitcoin will not disappear if the owner dies. And a little difficult is if the person left behind can not know the password of the Bitcoin wallet. Therefore, the selection of our wallet for Bitcoin should be really the best (support if the previous user died). And I do not know if there is a wallet like I mentioned?

[nareshrohra]

First, there's no bitcoin owner, its a decentralised currency. 2nd, bitcoin inventor is not heard of for past many years but still the currency is doing good. It has got some technical issues but there's a large community working on that.

Maybe if the inventor was still part of the project then he may somehow have a authoritative say on decision making. I personally, wouldn't like that.

[fiulpro]

I do think that bitcoins are something that are lost if something like that happened and then they will remain held forever and they won't be accessible to the normal market till the owner finds their key also there are chances that it will be hacked if they are not taken proper care of..
Well I have heard a thing or two about people loosing bitcoins also the wallet does not have any reason to think that the person isn't holding it for long enough.

[grandbrad02]

Sadly, it's the hurtly truth. Noone could reaches to your wallet if they don't have password to the wallet website or the private key of the local wallet.

[Ingramtg]

yes there will means that nobody can know the privatekey of the coin and only the owner

know, if owner die there will be lost forever

[poor-yorik]

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?

I think this what happens. And with every Bitcoin holder passing, his coins are also lost for good unless he made arrangements that they aren't. Technically, it would possible to retrieve the coins which are sitting idly on the blockchain after some time, for example, a few dozen or hundred years, but that would be against all current rules.

If most coins get irretrievably lost at the end of the day, it would mean that Bitcoin itself has lost as a currency. But we may not live up to that really.

[AmericanFoodfox]

Maybe the legacy cannot be erase. Because bitcoin has the originality and the quality that you cannont forget into your life. Btc is not possible to gone but it stay for a long period of time.

[bitperson]

I'm amused by the fact that so may participants use the word 'if', as in 'if you die'. Every person reading this will die, which is why everyone holding cryptocurrency should prepare. Also, it's not even just a question of death. You could sustain brain damage or contract Alzheimer's. Prepare now