I just got this question in my mind. What will happen if no one knows about the pasword of his/her acount will it posibly 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 posible that the remaining 20 million bitcoin forever?
In the world of crypto currencies, all those who have bought the bitcoins are given with the private keys. This key is just like a key for opening of some lock where a lot of wealth is being placed. You do need to have someone in your life whom you can trust blindly. You then need to share that private key with that person so that if something unusual happens, then he can claim those bitcoins.