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

[SlickMoTwoToe]

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 if I we're the people I will give access to my husband/wife of even into my sons/daughter, if you don't have any husband/wife you can give it to your mother/father or else to your sister/brother so that if you die they can use all your money and not be wasted.

[Core.BUSTER]

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?

Theoretically, no one can access it anymore. To keep this from happening, you can ask your lawyer to arrange things that will be passed on to your relatives and loved ones. But the downside of this is that you need to write your account and private keys. And nowadays, it is hard to trust people. But since it is your lawyer, you can sue him (in the laws of our country at least).

[simonzenke55]

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

[Jinz02]

Yes because the main account iw lost so how can they proceed ? So if the main account or main wallet will lost the bitcoin too will lost too.

[Papaczed]

For me bitcoin is in his account it will not be recovered without his personal information and private key. Then the bitcoin will be like that unless someone knows the owner personally. So tell his close relative before the man dies.

If a bitcoin owner will die, i am sure that the bitcoin will not lost forever,  maybe the bitcoin will just remain on the wallet of a owner, so my advice is all the holders or all the owners of bitcoin should tell them there private key to there family, so when a bitcoin owners die, there bitcoin can still used by there family.

[Kakawate]

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 what you are saying is in a way true, if I died and no one else knows the password to my accounys then that means nobody else will be able to retrieve my coins, but I think that means the supply of bitcoin or anyother coins will decrease, now this decrease of circulating supply will increase the value of the remaining supply if Im not mistaken especially if the demand of the coin is really good.

[assyla]

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 die and he has bitcoin in his or her wallet it will not gone it will be stuck in its et forever, and if someone can hack or know the password of its account then it is good so that its bitcoin will continue the flow of bitcoin and it is really good for us because the suoply will not slowly gone.

[STT]

The bitcoins get lost until quantum computers are developed and people are able to hack into the wallets to retrieve them. If the internet goes down, so do the bitcoins. but so does everything else. So we have to choose

In the first scenario if that were possible then at that point Bitcoin protocol would be broken and the wallet of no appreciable use anyway I presume.   The internet is designed to resist an earthquake so is quite resilient to disruption in a permanent way though it can become impaired and delayed no doubt.    If we are talking far off in the future I dont think the internet relies on just one medium to maintain communications, I do hope alot it moves away from copper wire and improves latency and resilience.   BTC itself the protocol can evolve and become better also.

Someone dying would especially need to have left a will to deal with this.  I seem to remember some kind of system but its interesting question of trust I guess

[Bionicgalaxy]

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?

In my own personal opinion, if the owner of bitcoin dies i think bitcoin will still live because maybe there are some people like a family member or a friend who also knows how to control bitcoin for bitcoin to live and to continue. Bitcoin will continue as long there are people who still invest in bitcoin.

[BabyBoss]

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 thinking that it is impossible that there is no at least someone in his life knows about his password. How about he has wife? or children? or girlfriend if he is still not married. Well I guess he also share his success and joy to his love ones because a person who has a lot of achievements and success can make a big rumors even though he is not speaking about it, his works and actions will do it.

[sammyp]

Well since no one knows the private keys to the wallet, the bitcoins are lost forever and that only decreases the amount of bitcoins in circulation or use. It doesn't affect the total number of bitcoins. Total number of bitcoins will always be the same unless new ones are created in addition to the existing number.

[PIR]

In this world everything seems  possible when comes to money they will always a way out for that money to use regardless of password, there's the hacker and all that, that they can somehow manage to open it and use it or there's trusted person whom the owner knows his/her secret and if it happen that there is none of the above mention did it well the bitcoin will there but its value depends on the market it can be forfeited.

[btcpara]

It seems yes, if no one knows the private key and password of the deceased person i am sure will be lost forever. Because i think no one can break the security of the e-wallet in the residence. But i do not know if anyone can take the bitcoin from the e-wallet or not. I just want to say i'm sure the bitcoin will be gone forever.

[cpoer2011]

The answer is Yes but No , If the bitcoin owner dies and no one doesn't know the password or the key to open it, it means bitcoin can't move, not lost forever.

[Jamjamz30]

If Satoshi Nakamoto dies, it would be safe to say that he would have a beneficiary that will inherit his bitcoins. As long as it is kept somewhere reachable online if Satoshi didn't pass his bitcoin down people would try to break into his wallet and get his bitcoins by any means possible.

[eekkaa]

if you do not give notes to the people you care about and for your family to access your wallet you have definitely the bitcoin you have become harag karun and forever stuck in your wallet no one can take it.

[Jaslinbor28]

If the owner of BTC who is holding it may die then it has the possibility to recover Bitcoin. Inherit will recover it with the required information. If there is no inherit then there is possibility of BTC restoring it in the main BTC store due to long inactivity

[Lataman]

I think bitcoin will not lost forever if the bitcoin owner die. For me there's a substitution for him/her because there are so many person that controlling bitcoin. If he die I think he will find another to replace his position so that bitcoin will not lost or gone. I think his family will be the one who will replace his position.

[poletando]

I think bitcoin will not lost forever if the bitcoin owner die. For me there's a substitution for him/her because there are so many person that controlling bitcoin. If he die I think he will find another to replace his position so that bitcoin will not lost or gone. I think his family will be the one who will replace his position.

as long their family has the private key can have a full access from that bitcoin wallet, if his /her dont give the private key to them i think that bitcoin will can't accessible forever.

[thankyoulord]

Yes, all bitcoin is gone but can only be retrieved if someone has the details to the account...