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Author Topic: What happens to my bitcoin if I die today?  (Read 3663 times)
carlfebz2
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January 26, 2021, 05:45:59 PM
 #241

If you will die unexpectedly then your assets or your bitcoin holding will surely to be lost especially if no one besides you knows your private keys or your login credentials if you are using an exchange as your means of storage.

The bitcoin will not be lost as it will not be burned even if it will not be used for many years so basically your bitcoin will remain stagnant in that wallet if you will die not unless there are hackers or an intervention to the wallet owners like they will confiscate your assets as they notice that you are not using it for a very long time already but this case is very rare to happen.

Using an exchange to make it as a primary or main storage of your coins is a quite dumb thing to be done on someone unless if you are an active trader which do make trades
and then you suddenly passed away then that would really be a problem if you havent tell them about your possesion.

When it comes to this situation then its always been ideal if you do at least tell, one member of your family which is most likely your wife about your holdings.
Nothing is assured on this life when it comes for us to die unexpectedly.If you do mind on passing up those coins as inheritance then its a must
thing to share up those keys but there are men who cant just afford to share up their keys to their wives while they are still alive.  Grin

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January 26, 2021, 06:39:49 PM
 #242

If you die today your bitcoin will be in your wallet safely and if you share your Pvt key with your close one he'she can use it but if you die without sharing Pvt key to close one than your all asset will be lost forever.

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January 26, 2021, 08:28:51 PM
 #243

Your Bitcoin will remain in your wallet till the end of the world. Nothing is going to happen to it. It all depends on the kind of family and lived ones that surrounds you. If you Have a trust worthy fellows, you could let them know where you keep some of your secret keys to your wallets this doesn't mean maybe they will access it behind you as this is the fair of majority. But if you don't trust your siblings and loved ones, you can share the phrase among them and add an hint to join the phrase and use it.
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January 26, 2021, 08:50:00 PM
 #244

If you will die unexpectedly then your assets or your bitcoin holding will surely to be lost especially if no one besides you knows your private keys or your login credentials if you are using an exchange as your means of storage.

The bitcoin will not be lost as it will not be burned even if it will not be used for many years so basically your bitcoin will remain stagnant in that wallet if you will die not unless there are hackers or an intervention to the wallet owners like they will confiscate your assets as they notice that you are not using it for a very long time already but this case is very rare to happen.

Using an exchange to make it as a primary or main storage of your coins is a quite dumb thing to be done on someone unless if you are an active trader which do make trades
and then you suddenly passed away then that would really be a problem if you havent tell them about your possesion.

When it comes to this situation then its always been ideal if you do at least tell, one member of your family which is most likely your wife about your holdings.
Nothing is assured on this life when it comes for us to die unexpectedly.If you do mind on passing up those coins as inheritance then its a must
thing to share up those keys but there are men who cant just afford to share up their keys to their wives while they are still alive.  Grin
I can relate to this on which it isnt really time for me to tell my private keys when it comes to my bitcoin holdings because chances that it would really be converted or cashed out will be high when my wife does really need some money and if she knows that if i do save up something in crypto then no doubt it would really be used for those kind of purposes thats why i havent told her about my holdings or savings but i made out some
instructions and guidelines on where my coins had been stored and steps that should do for them to able to get those coins and wont really be locked forever.
Its true that we wont know on what would happen tomorror, neither we do passed away and its much better to pass those coins rather than on losing it on void forever.

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January 26, 2021, 09:57:42 PM
 #245

Quote
   
What happens to my bitcoin if I die today?


There are two thing you can do in order to make it possible for your Bitcoin to be used or owned by someone after you are dead and gone. The first thing is to write a will and that will must have the private key to your wallet and also declaring the person who is to inherit Bitcoin. The other thing is to share any relevant information regarding the details of your bitcoin wallet with the person whom you will like to have your bitcoins once you are no more.  These are the only way possible i think your bitcoins will not be lost when you are no more.
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January 27, 2021, 09:23:24 PM
 #246

Well in order not to deprive my family of the the wealth I am trying to build in the form of bitcoin, I intend educating them about bitcoin. I am willing to share my password and secret codes with them, after all its better to have my family enjoy the fruits of my labour than leave (bitcoin) them sit somewhere untapped forever.
Every bitcoin user has the same thinking, but there are exemptions in which the user has lost funds sharing the private key to people close to them. It can be family members or someone else. So we need to make plans in such a way our funds can be used only after our life comes to an end.

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January 29, 2021, 08:32:25 AM
 #247


Even if you pass away, your bitcoins will continue to stay in your wallet. You can tell your children the wallet private key so they can continue to use it.
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February 05, 2021, 12:10:51 PM
 #248

Several more bitcoins will be lost in Blockchain forever locked on your digital wallet and no one can access them ever without your private keys. One way to save your assets is to inherit your wallet and private keys to relatives or someone else.
Not to mention that when your bitcoin gets lost in the void forever, you are contributing to the increase in prices of bitcoin in the market. It sort of a noble purpose but I don't think that it is a worth thing to pursue especially if you plan to have a family, then do what the quote above says, make it part of your inheritance.

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February 05, 2021, 12:57:16 PM
 #249

Several more bitcoins will be lost in Blockchain forever locked on your digital wallet and no one can access them ever without your private keys. One way to save your assets is to inherit your wallet and private keys to relatives or someone else.
Not to mention that when your bitcoin gets lost in the void forever, you are contributing to the increase in prices of bitcoin in the market. It sort of a noble purpose but I don't think that it is a worth thing to pursue especially if you plan to have a family, then do what the quote above says, make it part of your inheritance.
A lot of the Bitcoins way back 2013 were lost and forever cannot be access by the owner whether they are alive or not. Most of the bitcoin lost was due to bitcoin existence being forgotten by the owner, software corruption, hardware destruction and many more. And just as you've said this will help contribute to increase the price of bitcoin due to the limited amount of bitcoin that can be mined. The only way to save your digital assets such as Bitcoin and other crypto is to include it on your inheritance or have it save on physical way such as paper or anything that can help access the next users that will use it.

As for the question of the OP, if you die and have not told anyone about your bitcoin and cryptos then it will be forever lost.


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February 17, 2021, 05:48:02 AM
 #250

The lease thing to do is to let your very close people to know your private keys or passwords in order when you die they can manage your bitcoins. Just like giving it to your partner, family members or closest friend, just pick so that when you die there are someone who will be able to open and manage your accounts in order for them to use it for your burial perhaps. There's a lot of ways in which you can able to give your account and someone will used it. If you didn't give your account before you die then your bitcoin and wallet will be forever there and no one will be able to access it.
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February 23, 2021, 08:22:01 AM
 #251

If you die somewhere without telling your private key to anyone, your coins will forever be in your wallet.
It is improbable to break the secret key, nor the client service can help. So it's better to mindful of somebody about your access.
Nobody knows when will you die, and that's why I always let my wife know what I am doing and the private key. There always should be a backup.
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February 23, 2021, 09:26:56 AM
 #252

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?


A lot of people already answer what would happen to that bitcoin, lost or dead bitcoin could actually be a good thing because that just means it is being held or will not be sold to anyone. The more people hold bitcoin the more the market price of bitcoin will increase. For now, I don't have a backup plan or something that would make my family inherent my bitcoin when I die maybe because I don't think about it so much and I don't really hold that much of a bitcoin in the first place but I've told my family about bitcoin and slowly teaching them what is bitcoin. So that they would know what to do in the future when im gone.
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February 23, 2021, 10:23:46 AM
 #253

If you die somewhere without telling your private key to anyone, your coins will forever be in your wallet.
It is improbable to break the secret key, nor the client service can help. So it's better to mindful of somebody about your access.
Nobody knows when will you die, and that's why I always let my wife know what I am doing and the private key. There always should be a backup.


Yeah right, the very close person is your wife. Allowing her to know your secret keys is the right thing to do in case something
happen to you, then your family will enjoy your savings.

Without someone who knows your passkey there's no way to open your wallet, it will be forever be forgotten,  think further and
always be realistic that life is not in your hands.

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iTradeChips
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February 23, 2021, 01:38:24 PM
 #254

Well, it is not really a scary thought, if you know how to handle your finances and you are willing enough to make money out of it while you are still alive. It is simply a matter of trust when you give it to your kin. For me I would not wait for me to die but rather I am going to buy properties and put the names of my kids as owners of the said property. If I die then the properties are properly named. I would have a notebook with passwords of my accounts put on a safe. The safe password will be hidden someplace else or shared to my eldest child.

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1083ivangod
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February 23, 2021, 02:32:44 PM
 #255

Your bitcoin will be lost, think the last number i heard was that some 10-20% already is lost. Eventually, given enough time, all bitcoin will be lost.

If you buy stocks or gold, or even just deposit the money you get if you sell your bitcoin, in a bank, at least those funds will be in your name and will benefit your children, and/or someone you care for.

Even if you do share your wallet and your private key with a loved one, they might lose it or forget where they hid it, or it might accidentally be tossed away at the dump or something to that nature.

When there is no official link between your name and your funds, the likelihood of it getting lost is very high if something should happen to you. You dont even have to die for that to happen, it would be enough for you to get brain damage or in some other way be unable to get access to the wallet.
He's not dead yet, transfer to my wallet, and I will always remember you, or at least I will promise that I will remember)
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February 23, 2021, 05:19:00 PM
 #256

If you will die unexpectedly then your assets or your bitcoin holding will surely to be lost especially if no one besides you knows your private keys or your login credentials if you are using an exchange as your means of storage.

The bitcoin will not be lost as it will not be burned even if it will not be used for many years so basically your bitcoin will remain stagnant in that wallet if you will die not unless there are hackers or an intervention to the wallet owners like they will confiscate your assets as they notice that you are not using it for a very long time already but this case is very rare to happen.

Using an exchange to make it as a primary or main storage of your coins is a quite dumb thing to be done on someone unless if you are an active trader which do make trades
and then you suddenly passed away then that would really be a problem if you havent tell them about your possesion.

When it comes to this situation then its always been ideal if you do at least tell, one member of your family which is most likely your wife about your holdings.
Nothing is assured on this life when it comes for us to die unexpectedly.If you do mind on passing up those coins as inheritance then its a must
thing to share up those keys but there are men who cant just afford to share up their keys to their wives while they are still alive.  Grin
I can relate to this on which it isnt really time for me to tell my private keys when it comes to my bitcoin holdings because chances that it would really be converted or cashed out will be high when my wife does really need some money and if she knows that if i do save up something in crypto then no doubt it would really be used for those kind of purposes thats why i havent told her about my holdings or savings but i made out some
instructions and guidelines on where my coins had been stored and steps that should do for them to able to get those coins and wont really be locked forever.
Its true that we wont know on what would happen tomorror, neither we do passed away and its much better to pass those coins rather than on losing it on void forever.


Probably inform them where to get your personal belongings incase you are no more without mentioning the Bitcoin. Chances are that they won't bother going through your stuff while you are still alive unless they know you have something very valuable in there.
 I'll arrange things in a way that the coins  certainly get to them by surprise if I pass on before them.
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February 24, 2021, 10:45:01 AM
 #257

If you put the key in a bank safety deposit box...then maybe as long as the Executor of the Will isn't crooked or doesn't also have access to the wallet..... Shocked
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February 24, 2021, 11:11:19 AM
 #258

If you put the key in a bank safety deposit box...then maybe as long as the Executor of the Will isn't crooked or doesn't also have access to the wallet..... Shocked
Lol then the executor will took all your coin  Grin ,why not use some apps now that has this feature ?

I believe that Infinitus token/ apps can help you manage your coin to be in time deposit and will be allotted to your successor in right time.

https://inftech.io/

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I am not affiliated to this company i have just read their site some time and got my interest .

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February 24, 2021, 11:45:34 AM
 #259

If you put the key in a bank safety deposit box...then maybe as long as the Executor of the Will isn't crooked or doesn't also have access to the wallet..... Shocked

I think that it is good to give it or to keep it to a relative that you will definitely know like your parents, siblings or childrens. Bitcoin is a big thing today. We might not know what will gonna happen to it in the next few months or years but I think bitcoin will gonna be a big deal. If you die today and you don't tell anyone about your savings and private keys, it will be forever lost and will not gonna be retrieved eventhough your family filed something becuase it is risky to keep it and you need to have a secure wallet. So for me it ia good to have some of your family know about your bitcoin savings and private keys.
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February 24, 2021, 04:44:31 PM
 #260

it all depends on how you prepare the steps for the future,we ourselves will not know when it will die before it all ends, prepare a second person who for us is very close and very trustworthy, but that all must be given a way to operate our secret key.

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