Topic: BItcoin offline transactions? - page 2. (Read 1721 times)
But i was just wondering is there a way for Bitcoin to gain a status even 90% of cash? Offline, and instant transactions. Sure it might not be trustless, but there are ways to still protect users.
You're correct in realizing, though, that the greatest weakness to Bitcoin is its dependency on the network (and more so power/electricity). If the power grid goes down it becomes impossible to access the network upon which most wallets exist and transactions occur.
If the power grid goes down, Bitcoin is the least of your worries. Almost every human activity nowadays depends on electricity.
This is where I thought of an Idea. Some kind of device that everyone uses, and it connects and offline moves the BTC or perhaps using an externalized service? I just had a eureka moment and might make a business out of this one day 
Do you think theres a need for this?
Do you think theres a need for this?
It's difficult to implement in a trustless way without direct access to the Bitcoin network.
This is where I thought of an Idea. Some kind of device that everyone uses, and it connects and offline moves the BTC or perhaps using an externalized service? I just had a eureka moment and might make a business out of this one day
Do you think theres a need for this?
Do you think theres a need for this?
you can create a transaction offline,for example with elextrum. After that you can spread the txid in blockchain for example
If you trust the person, I guess they can just give you the private key, though you will have no way of knowing what the balance actually is and the sender can take the money back until you sweep the funds, which requires network access.
Yes, you can exchange a paper wallet or coin wallet for goods or services.
You're correct in realizing, though, that the greatest weakness to Bitcoin is its dependency on the network (and more so power/electricity). If the power grid goes down it becomes impossible to access the network upon which most wallets exist and transactions occur.
You're correct in realizing, though, that the greatest weakness to Bitcoin is its dependency on the network (and more so power/electricity). If the power grid goes down it becomes impossible to access the network upon which most wallets exist and transactions occur.
True, you can still use hard cash in the event of a power cut. However, most money is stored in bank databases electronically. Most people use debit/credit cards for big purchases and withdraw hard cash from ATMs. In the event of a power cut or network failure they cannot access their money electronically stored in bank databases.
Yes, you can exchange a paper wallet or coin wallet for goods or services.
You're correct in realizing, though, that the greatest weakness to Bitcoin is its dependency on the network (and more so power/electricity). If the power grid goes down it becomes impossible to access the network upon which most wallets exist and transactions occur.
You're correct in realizing, though, that the greatest weakness to Bitcoin is its dependency on the network (and more so power/electricity). If the power grid goes down it becomes impossible to access the network upon which most wallets exist and transactions occur.
What place where I see cash is still better than BTC is offline transactions, AFAIK BTC doesn't work if the Blockchain is not synchronized.IS there a way to transact Bitcoins offline?
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