I just got this question in my mind. What will happen if no one knows about the password of his/her account will it possibly deduct to the main supply of bitcoin? Example bitcoin was 21million supply and one man got 1 million bitcoin he was holding and suddenly he died no one can open his wallet is it possible that the remaining 20 million bitcoin forever?
Yes of course if people who have Bitcoin died, Bitcoin will follow the lost even though actually Bitcoin still in the wallet. But because no one knows the password at all, forced Bitcoin will continue to be stored in the wallet. If I personally always love to know my personal things to the people I trust the most so if one day I why somebody has someone who knows my password.
Great thread topic. Anyway, I think that bitcoin will not totally be lost but it will still be in the wallet of the deceased person account. I would perhaps suggest that people should have their succession plan just in case death will eventually come unexpectedly. Considering a big amount of bitcoin, definitely you should have a trusted individual to hold and should know about it in case it will happen.