Where do bitcoins go when you die? (sci-fi)
A cyberpunk writer asks this, so I thought I'd answer it:Plotpoint query: Someone has some bitcoins, nobody knows, they die, leave no will, have no heirs, what happens to the bitcoins?— William Gibson (@GreatDismal) December 18, 2015Note that it's asked in a legal framework, about "wills" and "heirs", but law isn't the concern. Instead, the question is:
What happens to the bitcoins if you don't pass on the wallet and password?Presumably, your heirs will inherit your computer, and if they scan it, they'll find your bitcoin wallet. But the wallet is encrypted, and the password is usually not written down anywhere, but memorized by the owner. Without the password, they can do nothing with the wallet.
Now, they could "crack" the password. Half the population will choose easy-to-remember passwords, which means that anybody can crack them. Many, though, will choose complex passwords that essentially mean nobody can crack them.
As a science-fiction writer, you might make up a new technology for cracking passwords. For example, "quantum computers" are becoming scary real scary fast. But here's the thing: any technology that makes it easy to crack this password also makes it easy to crack all of bitcoin Continue reading
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