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

[josephine85]

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).

Thanks for this information. At least now I have an idea of what will happen to my Bitcoin just in case nobody in the family knows my password and everything. I could not imagine if a Bitcoiner holding millions of Bitcoin died and nobody knows the detail of his wallet and it cannot be transferred to other wallet. Somebody should know the detail of your wallet. The one that you can trust.

[jayco25]

If ever the Bitcoin is still in the wallet  but it will not be able to move it anymore. The total supply is still 21 million because it is still in the count even without the owner . But his password might have been and he gave his trust or one of the members of the family. Of course, big money is involve so it he gave the access to other.

#Datarius

[FaithNlove_24]

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 am also under the impression that this remains true. Although, I could see potential changes to this in the future. If anyone has any links to current news on this, please share!

[666#666]

Nope, the bitcoin will stay to the trade. Since there are no guidelines or law that oversee about it. On the off chance that it is a fiat the bank given a traverse of time will report it to the administration and the legislature will be the proprietor of the fiat. In my nation and in the event that I am not mixed up it is around ten years. Yet, bitcoin isn't under the control of national bank nor the administration, in this manner the bitcoin's new proprietor will the wallet organization. In the event that you claim the wallet organization, I trust you won't wish to happen something to that effect.

[amzadabir]

The private key of a wallet is the access pass for a wallet but is not always handed out by some of the more popular online wallets.
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.

[cryptofeel]

It is good that you have where you save all these details on the side, so your family can access your wallet if anything ever happens to you

[CryptoKu-een]

It still counts right? Cause the bitcoin still do exist and was owned by someone even if he/she dies, the bitcoin is still counted among those bitcoins in circulation?

[TorbiK]

If he did not leave his relatives or close friends with his passwords and a private key from his wallet. Then consider that his currency is gone.

[OMGyasuo]

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 someone owns his wallet and password, then the btc number can not be lost. However, I think very few people will disclose their passwords. And if so, then as you said. But I think this case will be very rare.

[dongyi17]

There is always a way I believe, even if bitcoin owner will die... I sure he thought of it and plan it even after he created bitcoin there is always an alternative plan and it will not be deducted and there will always a way out to know one's password so that other will or the family itself will benefit also.

[tanghere02]

If no one has access to where he placed his bitcoin holdings then it goes with him when he dies and less the supply circling around. But if one of his family has access to his private keys then it can be opened and it could basically be used and sold.

[matthewtherry]

I think there is more than one owner and everything was well thought before it was launched. I don't think things would end if the owner dies

[Russlenat]

It will lost forever if no one knows the keys and the supply of bitcoin will decrease, they say that bitcoin supply is limited so it can't be recovered and it's like being burn.

[cosmoo]

Thousands of Bitcoins are lost forever. Noone can get them if they don't have private key. So, yes, it means that.

[shezu007]

The most ideal answer for this issue is that financial specialist must impart his wallet secret key to somebody he has trust who can convey that coin subsequent to passing on to his friends and family and the best individual to share private key is your life partner or somebody who is all the more nearer to you and I think if speculator don't impart their private key to other than their families may endure after them and by telling somebody this will help his family to utilize cap bitcoin and possibly that bitcoin will bring a great deal of bliss and they can deal with their costs.

[toxic0n]

Nope, the bitcoin can keep to the trade. Since there aren't any pointers or law that administer concerning it. On the off likelihood that it's a act the bank given a traverse of your time can report it to the administration and also the law-makers are the owner of the act. In my nation and within the event that i'm not necessitated it's around 10 years. Yet, bitcoin is not underneath the management of commercial bank nor the administration, during this manner the bitcoin's new owner can the pocketbook organization. within the event that you just claim the pocketbook organization, I trust you will not would like to happen one thing thereto result.

[nbjh]

Nope, the bitcoin will stay to the trade. Since there are no guidelines or law that oversee about it. On the off chance that it is a fiat the bank given a traverse of time will report it to the administration and the legislature will be the proprietor of the fiat. In my nation and in the event that I am not mixed up it is around ten years. Yet, bitcoin isn't under the control of national bank nor the administration, in this manner the bitcoin's new proprietor will the wallet organization. In the event that you claim the wallet organization, I trust you won't wish to happen something to that effect.

Bitcoin is a virtual currency that is protected by an unbreakable password. This property makes it a safe way to store wealth, but it also creates the risk that when Bitcoin owners die, their digital wealth will never be honored. The Bitcoin market is currently worth about 70 billion U.S. dollars, which is a big problem for families who have invested in Bitcoin and died in Technai.

[Ngelieh@]

it is possible to go to the depok for bitcoin given the heir insurance facility, so do not find the incident like that, and to the depanya bitcoin facility can be more complete and perfect.

[mandycheng]

Yes, so we should teach our family that how to use Bitcoin...

[magmar]

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?

Technically yes if the person having a huge amount of bitcoin in his or her wallet and when he dies the bitcoin eill remain on his or her wallet forever and that cannot be access by anyone who doesn't know his or her passwords because that is a security thung so if you have some issues about that thing that what if you die then have some back up ppan and save your passwords into some case or something and saud that when you die open that and leave some messages to those you left behind.