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

[sirkings0003]

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 have never taught of this. As I was reading your write up, I was asking myself how to handle this in a way that i would not be caught in the web of loosing my money. I think the best thing to do is to find someone you trust and let him know all your investments and if possible let the person know your passwords. So in event you are not found again, your sweat will not be in vain

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[Tramle091296]

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).

then it means the 1 million dollar will become lower and lower and become zero???

[Baofeng]

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?

His bitcoin will be totally lost in oblivion because no one can claim it on behalf of the deceased person. Similar to those people who have mined bitcoin in its early years however, lost all the private keys to that address.

That's why there's a debate or a thread asking if you are willing to share your password or private key on make a document detailing instructions on how to recover your bitcoin in case something happen to us.

[felipe04]

The value of bitcoin is already high and it can low but if you think this will be gone in the future that's not gonna happen because if you own btc the value of that is base on the person that have so even they mining all still it have price already and it will continue again in again.Many of us think bitcoin can be gone but i think it can't happen because we need this in life like the transaction and the extra income here for some jobs here another thing is the knowledge that can crypto brings to many people.

[gundala]

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).

That is what causes bitcoin prices to experience an upward trend, because the number is limited and only up to a total of 21 million only.
So it's important to take care of your assets, make sure someone knows you have an investment of bitcoins, or it would be wise to make notes or testament.

[norman472]

Very interesting question I also have thought about this , I saved the key of my bitcoin wallet in the flashdisk and I left to person I trusted , so when I die this person will give my inheritance to the rightful person .

[sdas90]

If bitcoin owner die. It means bitcoin also lost forever? I  did not think so . I want to say that Bitcoin will not disappear because it is now decentralized and most popular digital currency all over the world. I think not only one person owner and developer bitcoin if the owner dies besides I do think that bitcoins  are lost .

[dhka]

If bitcoin owner die. It means bitcoin also lost forever? I  did not think so . I want to say that Bitcoin will not disappear because it is now decentralized and most popular digital currency all over the world. I think not only one person owner and developer bitcoin if the owner dies besides I do think that bitcoins  are lost .

Do you even understand the question? What he meant was in case you have bitcoin in you wallet and you die while no one is having the private key other than yourself. What will happen to it then? It will be lost forever.

It is another form of burning coin. And yeah bitcoin supply will be decreased time to time because of this kind of mistake

[siti25]

I think 1 million is not lost, 1 million is still there and will always be there. Because no one knows the password of his\her account then no one can take or use or recognize the 1 million bitcoin. Never thought about this before, maybe we should share our account password with our most trusted person, wife, husband, mother, father or anyone else.

[LogitechMouse]

No the bitcoin of the owner who died will be remaining in the address where he/she put it. It will not be deducted but no one can withdraw it into the address where he/she put it unless somebody who is trustworthy to him/her and shared his private keys, passwords and anything that can access to its bitcoin then that person can withdraw it and use. If no one knows the private key then it will remain there forever but not deducted.

[Joemzz31]

 No,  in corporation the business is own lots of people so the death of one will not affects the existence of the company itself.

[barneystinson]

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?

Agree with this. We can just think of it as if the password or wallet key has been gone. The bitcoins within that wallet would no longer be a part of the circulation. Since there would no longer be new bitcoins to be mined, then the law of supply and demand would apply due to its scarcity.

[bitcoinVPSD]

Yes, I agree . If the owner bitcoin dies if they do not provide the password to any relatives. All their bitcoins will be lost forever because no one can open their wallets. This is unfortunate. I think we should take measures to avoid the worst situation. Let's say your wallet password to someone you trust most.

[feny.blackpink]

a good question. i think if the bitcoin owner die, the balance remain there
unless they had give the pkey to their relatives or someone.

[wolf one]

This is a good question I had never thought of before. If bitcoin is lost or the bitcoin owner is dead, it is too late to give bitcoin to someone else. Does this part of bitcoin disappear forever? Even companies that have an online wallet service may disable their Bitcoin account due to inactivity and earn bitcoins, but I find it unfair that there may be any accidents with bitcoin owners during that time, say Is a vegetative, why stop his account?

[Scorpion]

Yes. But it was designed to be this secure so I think most Bitcoin owners have a method to reveal their private keys and back-ups when a tragedy happens. You could do with thorough written instructions.

[Jeepney_koh]

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?

That is the sad thing in Bitcoin. Definitely, no one will be benifitted nor can retrieve tha stored bitcoin in that died person. Unless, if the wallet developers would find out that the account has been inactive for so long and no one is trying to open or accessed the account, then te developers could think or guess that the owner of the account had passed away. In that moment, they could get into his account and will take all his bitcoin. THe developers would be the riches people now.

[mabell943]

NO, in corporation the death of the owner or any stock holders will not affects the existence of the company; so nothing to worry about when the owner dies.
There will be bitcoin that will happy to serve you no matter what happens.

[tyuner4]

This question set me thinking. It is true that the bitcoin would have gone if the bitcoin holder did not tell the next of kin about the crypto portfolio he has. Many crypto currencies will be missing.

Fortunately, I write down the seed words and private keys of my wallets. And told my next of kin how to retrieve them.

[ramgonzales]

From what I know, Yes, that one million of the deceased person is still there and no one can move it. basically just leaving 20 million for the rest of us. That is the main reason why Bitcoin is very limited.