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

[grizmoblust]

certainly, those Bitcoins are still existed, but they cannot be used or restored. Bitcoin wallet just has one private key. No one can fixed them.

[Mr.Dick]

sure they're gone if nobody knows how to access his private key, otherwise I'd loose trust in they sytem..

[MWesterweele]

if the owner of bitcoin dies then the number of bitcoin in the world will decrease.
I think bitcoin password must be in the know by our family like wife because if we died bitcoin we can be owned by our family.

If the owner of bitcoin die there possibility to lose his/her bitcoin if the owner is Noone of his /her family know about bitcoin. But if there's someone know his/her doing in bitcoin there's possibility they can get all the owner earning in bitcoin or continue the owners doing in bitcoin.

[piebeyb]

This is interesting as a good discussion, I also suggested to some of my friends to trust someone to hold the key of bitcoin wallet, most importantly is the closest person who can be trusted hold the key of the wallet so bitcoin can be inherited.

[hernandezrnh]

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 the person die and no one from his/her family know the private key or the password. There is no way they can get or use the bitcoin of the deceased.

[tbterryboy]

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 unless someone knows your passwords or privatekeys for your wallets.

Agreed! The fact is there is nothing which you can do with your bitcoins in both the cases, if you lose your key or if you die without telling anyone else about your private key. Your bitcoins will be lost permanently in that case and there will be no one who will then be able to claim those bitcoins on your behalf. That is why it is said to share your private key with someone whom you can trust blindly.

[Scorpion]

Yes, that's why it's important to discuss these matters with your family on what happens to your cryptocurrency when you die. You can write down instructions for what to do in such a scenario and then your family can at least redeem what was yours and puts it into good use.

[cherryfer]

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?

Oh my god 1 million for 1 man only that's very good question but in reality if you have 1 million bitcoin your are not an ordinary citizen. however that's  question only, my answer is " you are true" they can't access anymore if they don't the exact details of their  wallet if the owner suddenly die.

[severaldetails]

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 unless someone knows your passwords or privatekeys for your wallets.

Agreed! The fact is there is nothing which you can do with your bitcoins in both the cases, if you lose your key or if you die without telling anyone else about your private key. Your bitcoins will be lost permanently in that case and there will be no one who will then be able to claim those bitcoins on your behalf. That is why it is said to share your private key with someone whom you can trust blindly.

I think that exactly this possibility of losing coins is a very good feature.
Over time it will happen often that coins get stuck in wallets where nobody has the keys to recover them.
Those coins are not part of the supply any longer.
This means that the rest of the coins increase a bit in value.
And when I think of how careless many people handle their things, I can imagine a lot of coins getting lost over a few decades.

[ajiejot]

Not so, bitcoin is decentralized, no one owns it. It is decentralized, even government don't own bitcoin. As long as people using it, bitcoin will never die. As long as the demand is there, it will stay forever. Just use it on our daily lives. Bitcoin has great future.

[CryptoRothschild]

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.

But I guess this will not happen with the actual Bitcoin. Nakamoto's coins won't probably be redistributed. But the real problem is not if they are lost, but if someone gets its hands on them dumping them all on the market at once. That would send Bitcoin's price back to 1$.

[okissabam]

I don’t think it will die with him too however there is a possibilty bitcoins price might go up depending on its usage or how it is being used by many and if the supporters still support them. But we also don’t know what will happen but let’s just expect the unexpected.

[Tatalk]

If bitcoin owner dies, then his soul would rest in piece because he has did such a wonderful deed that there are millions of bitcoiner praying for him. And if he dies,then also BTC won't lost because Now BTC itself is a brand and it does not need any more recognition. Though owner is very respectful but in spite of it, BTC would continue to float forever and would serve the people, the only thing that hinders it's path is it's decentralization and in future this would also happen and people continue to earn their profits

[webdevmastery]

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?

It depends on the wallet he/she is holding, There are wallets that are not secured and some are in the news that they are being hacked by an unknown other user. I think that there is no way to recover that coins because the wallet is super incripted and this coins will be just become waste.

[Nabilog]

if the bitcoin holder will die his/her bitcoin will remain idle unless there is a person know his/her personal key.  
it is better that there is someone knows your key. either wife or children.

[Dvach]

Technically they are not lost, because bitcoins remain on the wallet, the only problem is that coins can't be used. I think, that in case if someone owns a lot of BTC, he/she can leave notes to someone he or she trusts, so that person will be able to access the wallet.

[BlasterS]

of course not, in a corporation the incapacity or deaths of this owners does not affect the performance or the life of the company since it was manage by lots of people.
So you have nothing to worry about if the owner of bitcoin dies since the bitcoin will still operate no matter what happens.

[aray80]

In my opinion, we can anticipate it from the beginning, by giving everything about Bitcoin secrets to people who are truly trustworthy, for example to the our families...

[Joemzz31]

No! Because bitcoin is not just about the owner itself, it is all about the consumer who invest in it, the more the investor the longer the lives of bitcoin

[FLoving]

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.

I did not think like that actually the Bitcoin is decentralized currency, so the command is never in the hands of a single person. So there should be no affect on currency by any single person. The Bitcoin is growing up and reached to a position that it can be legalized in all countries soon. The benefits using Bitcoin are involving many new users to this community. The investors are always in hurry to buy it for their better earnings.