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

[dady12]

yes ofcourse as both online and offline wallet can be forever gone if no one knows the key or password of your account ,it might even be satoshi the founder is dead as no one 've ever had an access to his btc since he found bitcoin

[reymartH]

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.

[GooddyLife]

Over the years so many ppl died and forgot to send to someone the private key like, mom, sis or who they trust and his btc became in limbo. My mom has my private key and i taught her how to using it if i die
you should do the same

[shield132]

I read posts here and some of them really made my day
Ok, I would say it doesn't means bitcoin is lost forever. Let's imagine, it's virtual thing which doesn't exist in reality so we can edit it as we want. Now for example if there are 10 bitcoins and 1 worths 4,5$, this means 10btc=45$. Now man who owns 1 bitcoin dead, so we have left 9 bitcoin in network. We can make prise low and higher, so in this situation we try to increase price to cover that loss, so now 1 bitcoin worths 5$ and we have again 9btc=45$.

[shata]

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. This is reality. We cannot give our accounts and security passwords to our family. Even our facebook accounts and bitcoin wallets. Giving it to them is a responsibility to them because we cannot handle our life. We cannot define when we will die. My girlfriend has my bitcoin wallet accounts and private key and i also taught her about bitcoin and my accounts. I hope that you will do what i did.

[Nanda Dewi277]

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, because Bitcoin does not care who owns and what the circumstances of people who have Bitcoin. so if someone left Bitcoin then it is considered the holder

[DPrillio]

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, because Bitcoin does not care who owns and what the circumstances of people who have Bitcoin. so if someone left Bitcoin then it is considered the holder

Based on my understanding bitcoin is a decentralized system therefore no other party controlling it and in case of holders decease then its bitcoin will remain in the wallet and it can never be transacted without the encrypted key. So its better to secure everything like password and give it to our trusted one in case of our death.

[lionheart89]

could be, depending on the owner save bitcoin where, if stored in the wallet online i think the wallet will deactivate his account and claim his bitcoin. and it could be that the bitcoin owner has notified his address and password to the trusted person.

[ycoin123]

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).

well bitcoin has it's pros and cons

[Geoll29]

Before the bitcoin owner dies, he should tell to his most trusted person all the information about the bitcoin he has. There's no sense in keeping your wealth and then when you die no one will continue holding onto it. Being wealthy is not a destination, it's a journey. Whatever wealth you accumulated in this life are useless if you take them to your grave. So choose carefully the person you're going to pass these assets.

[thetractor666]

Once bitcoin gains acceptance there might be ways to pass the wallet to someone of your choice, it is a dangerous prospect imho

[Sithara007]

Once bitcoin gains acceptance there might be ways to pass the wallet to someone of your choice, it is a dangerous prospect imho

Unless the owner of those coins has passed on the private keys to someone, there is no way to pass the wallet to another individual, and no amount of acceptance can change that scenario. If the developers implement a hard fork to change that situation, then it has the prospects to become a double-edged sword. There can be a lot of misuse.

[Samueltalk]

If it all happens then I will tell you the account code and the bitcoin password to the person we trust like both parents, brother and sister.

[phelbaby]

Same way you will want to share with your family member about your investment,it will be also nice and thoughtful to  let your family know about your keys to your bitcoin,same time teach them how to trade with bitcoin.

[Wipangga]

in the forum is very easy to do, if you leave bitcoin you can give your private key to your family or your siblings, to continue it, for me it is very easy to do everyone who is working in this forum.

[Ana Le]

Sure ! This is the security of blockchain technology! So, if you own coin, tell your loved one about your account! 

[joshua05]

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 all wallet for bitcoins is encrypted and only the owner can open and manage his or her bitcoins unless he or she had a companion that has the private key for the wallet to transfer it to another account if the real owner dies

[shinjunobi09]

I mean if that's the case then you really have no choice but to abandon your bitcoin because it is pretty much useless at that point because you can no longer access your bitcoin it is as good as dead. Which is why it is important to backup password because practically it is one of the most important thing in your wallet because without it you could not access your money there.

[eaLiTy]

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.

I heard about the segwit2x fork,since there are many forks going on with bitcoin , i am not bothered much as i am yet to cash in my other fork coins ,but i did not understand is how they are going to redistribute the coins held by the developer,how can they do that fair and share and if they can take the coins from that wallet how secure is other wallets,they could literally take those coins from any wallet.
If someone is holding bitcoin and he dies,the coins he is holding is lost unless someone gets his private key.

[novhitadaloma]

if I still if I die today and I am in the wallet then before I will teach family I believe to love my wallet password because of bitcoin sia2 can be enough for family property.