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Ooops! 
/ravi
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Nitin Sawant wrote: so that money is gone?
No, it is just inaccessible. It stays in the system however.
Nitin Sawant wrote: In legacy banking system the money is safe with the bank, I mean the bank gets profit when owner dies without nominee
In a legacy banking system, you do not have money safe in the bank; you lent the fiat to the bank. It is not an asset, but a claim.
Nitin Sawant wrote: but in this case of bitcoin, the coins are just vanished in oblivion and no one can find it
No, they still exist in that wallet, there's just no-one with the password.
Bastard Programmer from Hell 
If you can't read my code, try converting it here[^]
"If you just follow the bacon Eddy, wherever it leads you, then you won't have to think about politics." -- Some Bell.
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Nitin Sawant wrote:
but in this case of bitcoin, the coins are just vanished in oblivion and no one can find it
No, they still exist in that wallet, there's just no-one with the password.
Person died implies that password is gone
implies that the wallet is gone
implies the bitcoins are gone,
it just exist somewhere on disk but not accessible.
I guess its just like burning pile of cash,
it just turns into ashes
but it exists in another form which is not accessible anymore
=====================================================
The grass is always greener on the other side of the fence
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Nitin Sawant wrote:
Person died implies that password is gone
Correct.
Nitin Sawant wrote: implies that the wallet is gone
Incorrect; it still exists, just without anyone who can open the wallet.
Nitin Sawant wrote: implies the bitcoins are gone,
They still exist too.
Nitin Sawant wrote: it just exist somewhere on disk but not accessible.
Exactly.
Nitin Sawant wrote: I guess its just like burning pile of cash,
it just turns into ashes
No, because if you burn cash, you destroy part of the currency. With the same demand and less supply, the value of the rest of the currency would go relatively up to compensate. That does not happen in this example; the money still exists, you just can't use it anymore.
Bastard Programmer from Hell
If you can't read my code, try converting it here[^]
"If you just follow the bacon Eddy, wherever it leads you, then you won't have to think about politics." -- Some Bell.
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Dan Neely wrote: It's closer to the money in various Swiss bank accounts whose holders were murdered in the 1940's leaving no one alive with the password needed to access the funds afterwards. The real difference is that because of how ponzicoins a court order to release the funds to the heirs can't be enforced. Unless someone can crack the password they're effectively gone forever even though they're still formally on the ledger.
It's sort of like this, except it would be the banker that died with the keys to the bank, meaning the holders who are still alive are unable to withdraw their funds. I guess it's a lesson that we should all be careful where we store our valuables.
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Up his nose - he died from an accidental cocaine overdose...
".45 ACP - because shooting twice is just silly" - JSOP, 2010
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You can never have too much ammo - unless you're swimming, or on fire. - JSOP, 2010
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When you pry the gun from my cold dead hands, be careful - the barrel will be very hot. - JSOP, 2013
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Big changes are coming to the Go community in 2019. Do we get $200 if we pass it?
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It’s a combination of things, but mostly it’s a shift in focus. They've already killed it?
That might sound a little harsher than I intended.
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Almost everything "killer" that ms had has been emasculated and had its teeth pulled.
There's only VS left, and they've started work on "fixing" that.
I wanna be a eunuchs developer! Pass me a bread knife!
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I think you are totally wrong...
The are still rolling out killer features.
Actually every new rollout is killing the patience and the trust of their customers and hence slowly killing his primary business.
M.D.V. 
If something has a solution... Why do we have to worry about?. If it has no solution... For what reason do we have to worry about?
Help me to understand what I'm saying, and I'll explain it better to you
Rating helpful answers is nice, but saying thanks can be even nicer.
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They're working on open source Windows Core OS
I think that may be having some KILLER features 
=====================================================
The grass is always greener on the other side of the fence
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Where to look: Android, Ubuntu, Apple or (maybe) Xerox PARC or DEC.
Peter Wasser
"The whole problem with the world is that fools and fanatics are always so certain of themselves, and wiser people so full of doubts." - Bertrand Russell
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Speaking at the Enigma security conference in Burlingame, California, last week, the researcher at UC Berkeley's International Computer Science Institute characterized bitcoin and its many follow-on digital currencies as energy-sucking leeches with no redeeming qualities. Their chief, if not only, function, he said, is to fund ransomware campaigns, online drug bazaars, and other criminal enterprises. I guess that's one less investor in my new DailyNewsCoin idea
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It's an idea whose time has come ... to bugger off.
I wanna be a eunuchs developer! Pass me a bread knife!
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While it’s important to possess the technical skills necessary to perform your job, there are a number of soft skills that can set you apart and help you succeed. I'm pretty plush, does that count?
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Oh, not the old "play nicely with the other kids" stuff, again!
Just read The No A**hole Rule[^], and get on with your work.
I wanna be a eunuchs developer! Pass me a bread knife!
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Containers and Kubernetes are great, but they didn't have a native integrated development environment… until now. File > New Container?
The bad news? Based on Eclipse.
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It's not something to buy into, because we all know, deep down, that the Kubernetes will eventually be kicked out by Dr Who.
I wanna be a eunuchs developer! Pass me a bread knife!
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Researchers in New Zealand are looking for the owner of a USB thumb drive that was discovered in a frozen seal turd—specifically, that of an Antarctic leopard seal. "Let it go, let it go. Can't hold it back anymore"
Personally, I wouldn't have tested it. At least not on *my* laptop.
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I'm not sure if I feel more disgusted or impressed. The thumb drive passed through the digestive track of an Antarctic leopard seal and it still works! 
"When you are dead, you won't even know that you are dead. It's a pain only felt by others; same thing when you are stupid."
Ignorant - An individual without knowledge, but is willing to learn.
Stupid - An individual without knowledge and is incapable of learning.
Idiot - An individual without knowledge and allows social media to do the thinking for them.
modified 19-Nov-21 21:01pm.
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Donathan.Hutchings wrote: an Antarctic leopard seal
Well spotted.
I wanna be a eunuchs developer! Pass me a bread knife!
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Spotted seals are a northern species 
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