We all know that today is modern day and almost all people already using internet around the world. Do guys have any idea that someday bitcoin can transact offline? I was asking this question because i have some friends out there who still not yet using internet until now.
If we can all have our own offline bitcoin wallet storage and if we can sti transact offline, trasfering or encashing offline in our storage it can be possible. Ofcourse for sure it can have a fees/charges for the offline transaction, but if we really want it then why not, but make sure accept the rules about the fees and charges. 
Topic: Bitcoin offline transaction like fiat money? - page 2. (Read 310 times)
We all know that today is modern day and almost all people already using internet around the world. Do guys have any idea that someday bitcoin can transact offline? I was asking this question because i have some friends out there who still not yet using internet until now.
No.Bitcoin being a digital currency which works only in internet,it could not be transacted offline.There is no central authority to issue bitcoins as a physical coin and give assurance for its value.Even if any private company issues some physical coin and announces that it would would pay for it in bitcoin instead,it is highly risky for that company since bitcoin price is highly volatile and hence no such company would come forward to do so.Bitcoin is an internet currency and could be used only online.
If offline, how do you account for and use blockchain technology? That seems unlikely to happen.
All transactions must be broadcasted on the network to be validated by the miners. How will the miners validate transactions that they cannot see? You are tackling the problem from the wrong angle. The governments of the world must solve the internet access problem, with the help of the corporate world.
Google and Elon Musk have started with different projects to grant FREE or cheap internet to everyone on this planet. ^smile^
Google and Elon Musk have started with different projects to grant FREE or cheap internet to everyone on this planet.
It's not possible to do it for the time being. The only way to help them now is to build more Internet base stations and nodes. Let them connect to the Internet.
There's a project called Opendime: https://opendime.com/
Basically, it's like a flash drive that stores a private key and it has two states - sealed, meaning that no one knows the private key, and open, meaning that anyone can read that private key. The idea is that you can load this device with BTC by sending coins to its address that was generated by device itself, and then you can give it to someone else and they will trust that you haven't copied the private key if the seal wasn't broken. Essentially, you have to trust that this device hasn't been tampered with or counterfeited in some very subtle way.
Basically, it's like a flash drive that stores a private key and it has two states - sealed, meaning that no one knows the private key, and open, meaning that anyone can read that private key. The idea is that you can load this device with BTC by sending coins to its address that was generated by device itself, and then you can give it to someone else and they will trust that you haven't copied the private key if the seal wasn't broken. Essentially, you have to trust that this device hasn't been tampered with or counterfeited in some very subtle way.
It is obviously impossible to broadcast transactions offline and also there would be no instantaneous in transferring bitcoin globally.
Miners will have to manually confirm all transactions and it will take weeks to complete an international transaction like we see in fiat.
We anyhow need to be connected to servers in order to do tasks in brief time
Miners will have to manually confirm all transactions and it will take weeks to complete an international transaction like we see in fiat.
We anyhow need to be connected to servers in order to do tasks in brief time
Off line is impossible. The broadcast of the transaction must depend on the Internet, and the non trading radio miners can't find your business. Maybe a few years later, mobile phone transactions will be a lot of use, but mobile transactions are based on the miner maintenance network.
Not right now, and probably not anytime soon. You can do everything offline but broadcast your transaction at the moment. You and the other nodes would have to be connected by some network, which, I guess, doesn't necessarily have to be the internet. Maybe we can start from there?
But yeah, not even ATMs can work offline, and they're widely used. This kind of functionality would be insanely useful, but not at all necessary.
But yeah, not even ATMs can work offline, and they're widely used. This kind of functionality would be insanely useful, but not at all necessary.
no it is impossible to transfer bitcoin offline. you can create a transaction offline, sign it and everything (that is how cold storage works) but eventually to "transfer" you need to broadcast that signed transaction over the peer to peer network.
it is like asking "if there was no internet/phone connection in the shop, can i still use my credit card?". you obviously can not. the pos machine needs to connect to the bank servers and check your balance and transfer your money so that you can make the purchase.
it is like asking "if there was no internet/phone connection in the shop, can i still use my credit card?". you obviously can not. the pos machine needs to connect to the bank servers and check your balance and transfer your money so that you can make the purchase.
Maybe someday it can, but this is dangerous, because it is not transparent, and can be manipulated data.
Another way online, we can track the existence of our bitcoin, to the stage of confirmation how much bitcoin we processed.
Someday nobody is not online, so in conclusion, everything that is done tends to be online no one is offline. Because with online we can quickly make transactions from one end of the world to the other end of the world, but if done offline, how many hours / day / month / year will be up?
Which is online only if the new network is busy sometimes we can not wait, what about offline?
Another way online, we can track the existence of our bitcoin, to the stage of confirmation how much bitcoin we processed.
Someday nobody is not online, so in conclusion, everything that is done tends to be online no one is offline. Because with online we can quickly make transactions from one end of the world to the other end of the world, but if done offline, how many hours / day / month / year will be up?
Which is online only if the new network is busy sometimes we can not wait, what about offline?
It may be possible, but of course the technology will have to do its role, allowing this offline transaction.
offline transaction means now having offline wallet , but online transaction is necessary for the bitcoin and other transaction because internet is very much important to transact and connect with globally. in future it may come as like fiat cash currency to carry it in the pocket to transact bitcoins.
yes, we are all required to be able to understand the world of technology. today, tomorrow, and in the future forever.computers can run offline, but to be active in the digital world must be online. and we can not generate crypto by offline.
I understand what you are saying my point is, is it posible that someday in the future we can use offline transaction using bitcoin?
yes, we are all required to be able to understand the world of technology. today, tomorrow, and in the future forever.computers can run offline, but to be active in the digital world must be online. and we can not generate crypto by offline.
We all know that today is modern day and almost all people already using internet around the world. Do guys have any idea that someday bitcoin can transact offline? I was asking this question because i have some friends out there who still not yet using internet until now.
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