Bitcoin Sent Offline! - page 2. | Bitcointalksearch.org

pawanjain

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Quote from: pooya87 on February 13, 2019, 10:30:21 PM

but he is not sending bitcoin! he is sending the private key. it is like giving someone key to your home and to the safe in the wall so that they can go there and take the money you left them there. well that is not sending bitcoin.
additionally he is using shortwave radio so i wouldn't call that exactly "offline", that is just another digital form of transferring data. not to mention this whole thing is super risky since it can be intercepted in the middle.

+1
Very well explained.

Quote from: Bttzed03 on February 13, 2019, 02:15:08 PM

I have always thought that internet is always needed to send bitcoin or other cryptocurrencies. It's my first time learning that it could be done offline.

Check this article https://www.cryptovibes.com/crypto-news/bitcoin-transaction-shortwave-radio/

The transaction was anyway broadcasted on the blockchain by the receiver. Eventually a person does need to have an internet connection if he wants to broadcast his transaction on the blockchain.
Second thing is that brainwallets are riskier and should be avoided since a slight memory loss could result in loosing your bitcoins forever.

eternalgloom

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Not much different than handing over a paper wallet to someone, but it's still amazing that this was done over radio-waves.
I personally don't think that the fact it wasn't an actual transaction, diminishes the achievement in any way.

I'll let this tweet from the guy who did it speak for itself:

Magkirap

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I guess in the near future we might send bitcoin in offline but right now we can't send bitcon in offline. All transactions in blockchain technologies needs to have internet so all tokens that you transfer will be send if you have internet connection.

Wildwest

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I think wherever the discussion about sending bitcoin offline is still impossible to do, unless Bitcoin has its own network that resembles the internet. But the biggest network in the world today is the internet and there is still no one to like it, and that is not possible for bitcoin

Sithawaka

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There may be other alternative ways t transfer bitcoin from one wallet to another but we cannot think that those ways will always effective and usable like online transactions because one of the very reason why bitcoin was developed in the first place as a digital currency is to provide best features and effectiveness to its users during online transactions but when we consider about offline transactions for many years fiat currencies has build a reputation among everyone so if bitcoin is completely or partially changed to accommodate offline transactions I doubt it can do a considerable change because it is difficult to compete with major fiat currencies

CryptoBry

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There is always a great interest for effective ways to transfer Bitcoin (and the whole cryptocurrency for that matter) since we are visioning a time when there can be a massive disruption on the usual internet system or when there can be a greater power that can suspend the internet so that Bitcoin can still be useful during the time of great crisis. So far all of these are still in the testing and speculative phase so there is nothing yet concrete that this can be done but I am personally hoping that soon this can be a big reality.

demenBTC

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Quote from: Bttzed03 on February 13, 2019, 02:15:08 PM

I have always thought that internet is always needed to send bitcoin or other cryptocurrencies. It's my first time learning that it could be done offline.

Check this article https://www.cryptovibes.com/crypto-news/bitcoin-transaction-shortwave-radio/

maybe sending offline can be done but it's not as fast as online, and obviously this has the risk of being hampered by shipping, I think this is very uncomfortable

dothebeats

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A similar feat has been made months ago, using also radio waves as the medium of the said transaction, without any obstructions whatsoever in between the two points. It seems that radio waves are becoming a thing again since most people are curious whether they can deviate from the transactions made with the internet or not. There have been multiple successful attempts now and the technology used for these successful transactions can be used in places wherein internet connectivity is a problem. For now, trials should be refined and pushed further so that it can be taken into commercial use (hopefully.)

poptok1

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Re: Blockstream's Bitcoin Satelite
- https://bitcointalksearch.org/topic/m.49574549

Completely Offline Bitcoin Transactions
- https://medium.com/@notgrubles/completely-offline-bitcoin-transactions-4e58324637bd

Some cool info above. Worth looking into. Looks like it's already a thing.
No internet plan needed to handle transactions.

Quote from: KingZee on February 14, 2019, 05:08:12 AM

Who's going to own the satellite?

https://blockstream.com/2017/08/15/announcing-blockstream-satellite/ <--Those guys for example.

1993jochico

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Quote from: pooya87 on February 13, 2019, 10:30:21 PM

but he is not sending bitcoin! he is sending the private key. it is like giving someone key to your home and to the safe in the wall so that they can go there and take the money you left them there. well that is not sending bitcoin.
additionally he is using shortwave radio so i wouldn't call that exactly "offline", that is just another digital form of transferring data. not to mention this whole thing is super risky since it can be intercepted in the middle.

So in short if thats me im going to create a new wallet then send the amount you want to that address and give to someone that address (this is how I get it).

Even you can do that transaction offline the receiver will still need to go online to get the money, I cant think of any possible way to make a bitcoin transaction offline it is impossible because if it can be done offline it will be easily hacked by other people and take the amount they want.

KingZee

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Quote from: Kakmakr on February 14, 2019, 04:53:53 AM

A lot of strategies are being put in place to make Bitcoin independent of the Internet. because we need redundancy, when governments wants to shutdown or firewall Bitcoin traffic.

The problem is, people can use Bitcoin without having access to the internet. < Person A can give a physical Paper wallet to person B for payment for something and nobody can stop them > Grin

Who's going to own the satellite?

tenakha

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It is amazing how the amateurs can do that with a shortwave radio. But, as it was written there, only text was sent from one to the other. How BTC transaction was happened with text left a question in my head. Huh

Also, I doubt that it is safe, so the traditional way looks safer.
On the other hand, as far as I know, there is a new network called Blockstream which is trying to do it professionally and their network is only established for Bitcoin.

Kakmakr

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A lot of strategies are being put in place to make Bitcoin independent of the Internet. because we need redundancy, when governments wants to shutdown or firewall Bitcoin traffic.

The problem is, people can use Bitcoin without having access to the internet. < Person A can give a physical Paper wallet to person B for payment for something and nobody can stop them > Grin

BTMBitcoinVN

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Quote from: buwaytress on February 14, 2019, 03:26:12 AM

Quote from: BTMBitcoinVN on February 14, 2019, 03:13:33 AM

Not really offline when he just sent the "request" on radio. There's physical bitcoins you can just hand over to people lol.

Offline payments doesn't really sounds like something to explore.

Handing over physical bitcoins is achieving the same purpose as handing over private keys, you're not making any Bitcoin transactions, the coins remain untouched.

Offline payments can be useful, why not? And I think it's already proven possible in many cases, depending on how strictly you want to term "offline", that is! For me, satellite broadcasting the Bitcoin network's pretty good.

Seem to even recall someone on this forum showing how it could be done with smoke signals heh.

Yeah by just handing over the private key - a transaction can be done in any way you can give information.
If i give instructions to my lawyer to share my private key with my family when i die, i will technically have send bitcoins from the afterlife lol

MainIbem

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It would have been another great feat if this had been truly an offline transfer.

buwaytress

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Quote from: BTMBitcoinVN on February 14, 2019, 03:13:33 AM

Not really offline when he just sent the "request" on radio. There's physical bitcoins you can just hand over to people lol.

Offline payments doesn't really sounds like something to explore.

Handing over physical bitcoins is achieving the same purpose as handing over private keys, you're not making any Bitcoin transactions, the coins remain untouched.

Offline payments can be useful, why not? And I think it's already proven possible in many cases, depending on how strictly you want to term "offline", that is! For me, satellite broadcasting the Bitcoin network's pretty good.

Seem to even recall someone on this forum showing how it could be done with smoke signals heh.

BTMBitcoinVN

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Not really offline when he just sent the "request" on radio. There's physical bitcoins you can just hand over to people lol.

Offline payments doesn't really sounds like something to explore.

pooya87

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but he is not sending bitcoin! he is sending the private key. it is like giving someone key to your home and to the safe in the wall so that they can go there and take the money you left them there. well that is not sending bitcoin.
additionally he is using shortwave radio so i wouldn't call that exactly "offline", that is just another digital form of transferring data. not to mention this whole thing is super risky since it can be intercepted in the middle.

Bttzed03

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I have always thought that internet is always needed to send bitcoin or other cryptocurrencies. It's my first time learning that it could be done offline.

Check this article https://www.cryptovibes.com/crypto-news/bitcoin-transaction-shortwave-radio/

Topic: Bitcoin Sent Offline! - page 2. (Read 611 times)