What happens to my bitcoin if I die today?

[TIDOVEE]

Though death is inevitable able, and that why we all must prepare for it, bitcoin wallet is expected to be handle safely to avoid being hacked or any form of loss but there could be ways one can be overprotective and still fall into loss, I will always advice that we have a written details of the our private codes and atleast have someone we can entrust it with. If no member of your family can handle your account at your absence,well! Your account will one day diffuse.

[Gotumoot]

I really think we already have tons of that kind of Bitcoin already the ones that has been mined and hasn't been moved for a very long time I think some of the owners are already deceased.
So it is better to have someone who you could trust to know about everything that you have so that your family could still use what you have left behind instead of just being lost on that wallet forever.
It is your money so it is better to let them have it instead of making it vanish forever.

[Sebas.tian]

Bitcoin gives death a unique challenge. As Bitcoin exist only in virtual form. If you pass away without leaving the private key to anyone, your bitcoins are effectively unavailable to anyone.

You're right mate, the only thing we should do to avoid our exit be painful to those dear to our heart is just exposing private keys to them that if anything happen to our lives they should ensure to claim the coins from wallets. Personally, only a brother who's dear to could recover my funds if anything got to do with my exit from the planet. Doing not this which will make our coins unavailable won't attract profit on our way to exit.   

[GeorgeJohn]

Bitcoin as a Decentralized Cryptocurrency has no physical structure just like the bank. It’s basically stored in a digital wallet/account being operated from a mobile device and its security embedded there also. In creating Defi wallet or block chain account no available section for next of kin or third party details Its always advised to keep Recovery Phrase details secret  in save location, these will help in recovering the wallet.

Literally bitcoin details remain secret and personal to me. If I continue to keep my details secret of what use would it be to me when I’m no more and my love ones can’t benefit from my bitcoin? Here is my question what happens to the bitcoin of someone who died and didn’t disclose his/her wallet details to anyone? please I need response . Would the bitcoin be abandoned in the wallet forever?? Would it be a waste of bitcoin?

Yeah it's a truth that bitcoin is a decentralized and no one can sign for your cash out like the process banks who are centralized does if someone departure on earth,  no i really dont believe that, but if someone departures siblings can benefit from your  bitcoin if you have existing bitcoin in wallet, through the user private key, because through a private key someone can equally have access or penetrate into hidden wallet, but I think it will come to pass if one of the relatives knows the rudiments of bitcoin.

[emrecemsan]

If you don't give the private key to anyone, those bitcoins will stay there forever. Nobody can make transactions or even transfer bitcoins without the Private key.

[Lycan70]

Better create a diary and with it the printed private keys if you like your family to have access on your Bitcoin and other crypto assets. May your family use it wisely and continue to support Bitcoin.

[Kez1817]

Bitcoin as a Decentralized Cryptocurrency has no physical structure just like the bank. It’s basically stored in a digital wallet/account being operated from a mobile device and its security embedded there also. In creating Defi wallet or block chain account no available section for next of kin or third party details Its always advised to keep Recovery Phrase details secret  in save location, these will help in recovering the wallet.

Literally bitcoin details remain secret and personal to me. If I continue to keep my details secret of what use would it be to me when I’m no more and my love ones can’t benefit from my bitcoin? Here is my question what happens to the bitcoin of someone who died and didn’t disclose his/her wallet details to anyone? please I need response . Would the bitcoin be abandoned in the wallet forever?? Would it be a waste of bitcoin?

Then, why not share to your loveones your bitcoin wallet and private key and teach them early how to use it if you are worried enough that they will not be able to use your bitcoin if you will die. There's a lot of way I think if you want your loveones inherit your bitcoins.

[dificanovi]

Literally bitcoin details remain secret and personal to me. If I continue to keep my details secret of what use would it be to me when I’m no more and my love ones can’t benefit from my bitcoin? Here is my question what happens to the bitcoin of someone who died and didn’t disclose his/her wallet details to anyone? please I need response . Would the bitcoin be abandoned in the wallet forever?? Would it be a waste of bitcoin?

You will lose your bitcoins for good if you do not give the private keys of your bitcoin wallet to heirs such as wife, children and parents.  In general, every bitcoin user must give the private key of their bitcoin wallet to someone they care about so that their bitcoin is not lost after they die.

[skarais]

I believe that all the bitcoin in our wallet will be lost (unusable) if we do not have the private key that has been safely stored and passed on to trusted relatives or family. I know that the OP's question isn't the first time user have asked the community as there have been several user asking about the same thing before, but taking a little time to think about this will is important and I think it will have a big impact once we go. I believe that there are users who trust bitcoin as a store of value as well as an asset for their future investment. Hence, it is very useful to inherit wallet detail for someone who can be trusted in case something happen to the owner.

Be careful in securing our wallet and asset so that they can be of use to our loved ones after we die. If Satoshi leaves his private key with someone, then I'm sure all the bitcoin in his wallet can be transferred without any drama.

[XCANA]

Am afraid of revealing my keys to family members because of the possibility in them going away with my funds, those around me can't be trusted as things has happened before now which has actually revealed their true status to me. So, me reveal my keys to family members is like giving them out to scammers or fraudsters, Maybe in future i can trust someone for this.   At the moment if anything strike my Bitcoins will go into extinction.  

[Reosta_]

Bitcoin as a Decentralized Cryptocurrency has no physical structure just like the bank. It’s basically stored in a digital wallet/account being operated from a mobile device and its security embedded there also. In creating Defi wallet or block chain account no available section for next of kin or third party details Its always advised to keep Recovery Phrase details secret  in save location, these will help in recovering the wallet.

Literally bitcoin details remain secret and personal to me. If I continue to keep my details secret of what use would it be to me when I’m no more and my love ones can’t benefit from my bitcoin? Here is my question what happens to the bitcoin of someone who died and didn’t disclose his/her wallet details to anyone? please I need response . Would the bitcoin be abandoned in the wallet forever?? Would it be a waste of bitcoin?

If you don't share your recovery phrase, private key etc. info with anyone and keep to yourself, then your wallet will be gone forever. I know this is frustrating when you think about it but there is nothing else to do to prevent this from being happened. I hope that a system can be developed to resolve this thing. Otherwise, I think people won't be comfortable with it.

[SaShiRaJaVu]

Your assets can only inherited if you formally have this last will or you provide information to someone you love who knowledgeable enough to use the system and enjoy all your save assets once you left this world.

Have a nice tutorial about how to withdraw and cash out the bitcoin or any cryptocurrency you are holding and make sure your relatives and family members know about a bank locker that you hold and you need to inform them about the tutorial if anything happens to you by accident, other than that there is no way anyone who is not aware of the details of the cryptocurrency market neglect these things even if they find the private key.

[Krislaw]

When it gets to money, humans tend to change even with little amount of money.
I'd firstly educate them on what cryptocurrency and carry them along. Then I'd know the one that serious with crypto and if it's all of them, then I distribute the secret key among them so they can put it together when it's needed

[abel1337]

I'm thinking about this topic for a week now because we can't say when will be our time will end. The way I can see for my close family member to access it is to have a backup paraphrase written down on a paper and simple guides on how to unlock it and convert it into fiat. The only thing is if someone tends to steal that backup, I'm pretty sure that my wallet would be drained given that I gave them the tutorial on how to make it cash, Some special questions or security would be good right? I have a pretty hard time figuring out what should I do since I have multiple wallets and some of it are altcoins. The process of making a backup and tutorials would be a lot of work.

[LittleBitFunny]

If you die, all your bitcoins will be in exactly the same condition you left them, unless you give someone a private key. I taught my family where to store my private key and how to use it, and created a video tutorial. Hopefully they can use them if they try.

[Quidat]

If you die, all your bitcoins will be in exactly the same condition you left them, unless you give someone a private key. I taught my family where to store my private key and how to use it, and created a video tutorial. Hopefully they can use them if they try.

For now i cant really just trust them up to share everything to have access.Im little bit selfish when it comes to my crypto savings and if you do tell them this early
then they might access it on early time and in result those would be spent in no time.So it will be better if i do show them with half-assesed one and time will come
where i do decide to tell them everything but not for now.We dont know on what will happen to us yet no human can tell if they would die in next second,minute,day,weeks
or years but if you do decide to tell them all then its your choice.

Some said for time lock and some do prefer on giving out hardware wallet or paper wallets.There are various ways that can be possibly applied.

[friends1980]

Quite funny because I was a Newbie as well when I opened my first thread "What happens when we die?" a very long time ago...

If you don't pass your keys on to someone else, indeed, your BTC is lost forever.

However, a more important question seems to me: what effect would this have on the value of BTC and the concept as a whole?

Sadly, the discussion is always reduced to the question of what to do with your keys, so 3,5 years after posting my thread, there's still no answer to my question (and unless I'm mistaken, there won't be any in this thread either).

[Innocant]

Ill think your bitcoin will still remain in your wallet if you die today.
And on one can open your wallet because you are the knows the key or a password that needed to unlock.
But if you have some person or a part of your family knows about your wallet a password maybe if you die today they can use it for buying some coffin for you and using it for buying anything they want.

[proTECH77]

That is why bitcoin is so different from fiat money which any body can walk into your house and pick and start using it. If you die today and you fail to disclose your bitcoin personal address details to your children know way they can have access to your coins in your wallet. If you die without disclose them to your children die also because know body can have access to your private address.
It is advisable to always put some of your private code down for where your love ones can find them after you have departed from this Earth so that they can continue from where you stop in bitcoin business

[pixie85]

I guess we're on the way to make this into another mega thread

The best thing about Bitcoin is it gives you complete control. Each coin you buy can be taken out of the system if you choose to.

One of the easiest options is to have a hwardware wallet with a hidden code. The code can be even put in a safety deposit box with the wallet remaining hidden at home. When you die your family will be able to get access to the deposit box and use the code to unlock your wallet.

You can also give parts of the wallet phrase to members of your family. Only when combining it together they'll be able to unlock the wallet.