What happens to my Bitcoin when I die?

[95Bolu]

If I die (let's be honest, that will probably happen), would my wife or family get my coins? What if they don't know my passwords/private key?

[Rikafip]

Well, unless you set some fail-safe plan (for example giving your seed phrase to trusted persons) that Bitcoin you owned will be lost forever. And my guess is that is happening more often than we might think as people rarely think about that.

I personally sorted that in a way that several close family members have access to my cold wallet info, and an instructions who to contact (since they know little about Bitcoin and wouldn't be able to sort it out by themselves ) to help them out.

[jackg]

I attempted to make a guide here to show a way it's possible to make them inheritible: https://bitcointalk.org/index.php?topic=5285003.msg55471258#msg55471258

There are other ways you can use if they're not too technical but this is probably the safest.

[darkv0rt3x]

Losing coins for ever is not bad as the supply decreases a bit! So, the value of the circulating supply tends to increase!

But yeah, that's pretty much it. If no one have your PKs, then those are no one's coins!

[BlackHatCoiner]

Unfortunately for their families and fortunately for the rest of the users, most of the bitcoin owners never think of this scenario.

(let's be honest, that will probably happen)

This won't “probably” happen. Dying is the only sure thing in life.

would my wife or family get my coins?

Only if they have the private keys / seed phrase or if they own the inheriting transaction which you must give to them before you pass away. Check: Using Locktime for inheritance planning, backups or gifts.

[Slow death]

this has been a very problematic issue, if the person in life keeps giving their password or private key that person runs the risk of losing everything and if the person dies and does not give anything that person will leave nothing. in cases like these, the best strategy would be to leave a will with a lawyer and also leave several pieces of the private key with several family members and instruct them that only together they could have access to the fund.

[Fundamentals Of]

You will die. We all will. It will not just probably happen. It will happen. It is just a matter of when. So everybody should be prepared in terms of their well-kept or even hidden Bitcoin. There are so many ways to make sure your Bitcoin would end up with your family when you die. You could write down all your private keys and passwords on a piece of paper and then seal it inside an envelope and keep it somewhere in your room, at the back of a painting, etc. Or you could include that in your last will that is to be opened upon your death.

[Frengki_cisco]

If I die (let's be honest, that will probably happen), would my wife or family get my coins? What if they don't know my passwords/private key?

What should you teach and you tell your family before you die about everything related to your Bitcoin assets why it is so difficult.

After you tell the key, how Bitcoin works to your wife is complete, you don't have to worry anymore, if you leave this world.

[bitterguy28]

If I die (let's be honest, that will probably happen), would my wife or family get my coins? What if they don't know my passwords/private key?

There is already a similar topic/thread posted here and same question being given and that is Unless you shared your Private keys to anyone your coin will be dead together with you.
so better to be ready for emergency to come means you need to have a Keys known by your family or friends or at least has a written in papers that once you died they can access that testament .

[Wexnident]

If I die (let's be honest, that will probably happen), would my wife or family get my coins? What if they don't know my passwords/private key?

Then it's lost, forever. At least if you don't give them access, but if you do, then well it's just like transferring ownership of the assets from you to your family, but if not well, to quote what I just saw earlier.

I believe this guy knows what he's talking about:

Lost coins only make everyone else's coins worth slightly more.  Think of it as a donation to everyone.

So fear not! If you died and you weren't able to give access to your wallet to your family, at the very least, you made a donation to every other Bitcoin holder out there!

[cabron]

If I die (let's be honest, that will probably happen), would my wife or family get my coins? What if they don't know my passwords/private key?

Then it's lost, forever. At least if you don't give them access, but if you do, then well it's just like transferring ownership of the assets from you to your family, but if not well, to quote what I just saw earlier.

I believe this guy knows what he's talking about:

Lost coins only make everyone else's coins worth slightly more.  Think of it as a donation to everyone.

So fear not! If you died and you weren't able to give access to your wallet to your family, at the very least, you made a donation to every other Bitcoin holder out there!

If you intend to lose it from the beginning then just burn it. It's true though, less supply makes the price good.

I agree that cryptocurrencies are the only things you can bring with you when you die, no one will ever loot your grave for gold today. Leaving your coins to love ones is good. Let them just have something to do than just grieve. Why bring something to the grave when there is no one will spend it there?

[raidarksword]

Only your trusted friend or family member will inherit your bitcoin when your time is up in this world and it would be a future plans to have in order for your bitcoin will have a full purpose to your family for a financial support that is. You can teach your wife or any family members regarding about it incase of something inevitable and pass phrase or private keys should be entrusted only to them.

[TheUltraElite]

If I die (let's be honest, that will probably happen), would my wife or family get my coins? What if they don't know my passwords/private key?

Simple answer, if they dont know the private keys your coins would not be able to get accessed by anybody. Hard truth, the coins will be lost forever.
So the simple solution to this is allowing your next of kin to know that you have bitcoin or altcoins and teach them about it. At least teach your wife about it and how to at least access your wallets in your "absence".

After that you can make sure to teach your children once they are having a robust understanding of blockchain and how crypto works and then distribute the coins to their wallets.

Indeed there is no inheritance system for bitcoins. You have to do that yourself. But give a read to the "Locktime" post by LoyceV as posted by @BlackHatCoiner.

[blackened515]

Your coins will be lost forever, if you die without giving your family your seed. Therefore, It will be a great idea, passing your private keys to someone, who can manage and inherit your Bitcoin, when you are no more. Although, it has to be well trusted person. I told my elder brother my private keys, and also lecture him about how Crypto works. In case something happens, he will be able to manage and inherit my Bitcoin. However, is impossible for someone to have access to your coins, without the Private keys.

[kotajikikox]

If I die (let's be honest, that will probably happen), would my wife or family get my coins? What if they don't know my passwords/private key?

No one will benefits from your hard earned funds here if you don't let anyone to have your private keys and passwords.
all your money will die with you and even your dust no one with benefits.
so be ready for what to come and let your love one knows about your investment before everything happens accidentally .
I have my keys in my vault that can be opened by my wife in case of something happened to me or in emergency cases.

[Newlifebtc]

If I die (let's be honest, that will probably happen), would my wife or family get my coins? What if they don't know my passwords/private key?

If you hide money somewhere without telling any body when you travel to far distance where your family neither your wife will not hear from you, can anybody notice of the money you  hide without letting anyone know?  The truth is everywhere you know it by yourself that anyone that dies with secret of cryptocurrency wallet nobody can withdraw and have access to the coin.

[worle1bm]

If I die (let's be honest, that will probably happen), would my wife or family get my coins? What if they don't know my passwords/private key?

The best way is to have the backup stored in some metal sheet like seed phrase engraved over it as many have suggested this but if you say they never know the keys then forget about it that they will have your funds after you die because you don't have keys you don't have btc.The best is to make them aware about it at the first stage and tell them about where it has been stored but to only you trust so make sure about that thing.Many have lost their coins and the results are decrease in supply in only.

[noah tall]

After death your Bitcoin will lost if you didn't give seed to your next of ken. So you should have a safe plan before you die. otherwise your family will lost all of your assets. And they couldn't claim it. So the best advice for the Bitcoin to deliver your family you should give him your wallet seeds.

[lovesmayfamilis]

If I die (let's be honest, that will probably happen), would my wife or family get my coins? What if they don't know my passwords/private key?

OP, if you are asking a question like this, who can help you if you don’t do anything on your own? I think this is somewhat absurd. Ask what will happen to your relatives after your death, what can we tell you?
I think even a stupid person understands, if you are afraid of something, start taking something in advance, if not, then just spit. Everyone will die, and this is the problem of the individual, what he will leave behind.
By the way, it would not hurt to check the forum for the existence of a similar topic.

https://bitcointalk.org/index.php?topic=5284824.msg55490195#msg55490195

Maybe this will help prepare for the departure to another world. 

[mm2543363580]

Losing coins for ever is not bad as the supply decreases a bit! So, the value of the circulating supply tends to increase!

But yeah, that's pretty much it. If no one have your PKs, then those are no one's coins!

This issue is as old as hills. Don't know how many times people have asked this question. Such questions must be pinned here. You have given a valid point that such lost coins are removed from circulation and that may result in increase in value of BTC. We all must pass our credentials to our loved once, so none of our hard work went in vain.