Topic: Bitcoin without electricity (Read 427 times)
Bitcoin use eletricity, need it. In future we will see how will it works. We have different oppinion,it is normal. None can know what expects us but some facts are obivious and will not change, you mentioned already.
There are many things that can be use now as Power provider , You can have Solar Panels and you don't have to worry about other supply.
You can have your own generator at house in which you only need fuel to operate.
So i think Bitcoin can be use even without direct supply of Electricity from supplier.
You can have your own generator at house in which you only need fuel to operate.
So i think Bitcoin can be use even without direct supply of Electricity from supplier.
Bitcoin will never work without electricity, due to the high demand for electricity supply then it might be one of the reasons why some are against it, however, they did not realize that bitcoin mining is not the biggest consumer of electricity and there's no study saying it is. All of these are just FUD, Elon's reason was wrong, it was not the electricity issue but other hidden agenda of his.
This statement refers to 'Bitcoin without electricity' which means Bitcoin Offline, obviously not.
In my opinion, there is still no way if Bitcoin without electric power is Bitcoin has full access to the network using electric power.
But the problem is if you want an alternative to replace electric power, namely using solar power, wind power, hydropower and even portable electricity (power bank), it can be used temporarily.
In my opinion, there is still no way if Bitcoin without electric power is Bitcoin has full access to the network using electric power.
But the problem is if you want an alternative to replace electric power, namely using solar power, wind power, hydropower and even portable electricity (power bank), it can be used temporarily.
From the looks of it, even the media itself or in this case the crypto-based media is also betting on that proposition that Bitcoin uses too much energy. An article that I just read said that there was an estimate by the University of Cambridge, and they suggested that Bitcoin mining consumes more than 120 Terawatt Hours (Twh) per year. And that amount of electricity used in a year is like more than the electricity usage of the countries like Malaysia, Sweden or Argentina. It also said that "The report also stated that bitcoin could rank in the top 30 energy consumers if it were a country".
Source: https://www.livemint.com/market/cryptocurrency/how-does-bitcoin-mining-impact-the-environment-11620898893877.html
Source: https://www.livemint.com/market/cryptocurrency/how-does-bitcoin-mining-impact-the-environment-11620898893877.html
But that happens, because they are comparing the consumption of an economic activity, with a country. In my view it makes no sense to compare a country with an economic activity. They had to compare it with another economic activity.
Why don't they do that, for example, for car production?
But in the production of the car, it has to include the energy spent in the factory, the transport of material between factories and the transport of vehicles for sale.
One of the most important points that bitcoin and crypto money has been criticized recently is the energy issue. They were subjected to many negative criticisms for their need to consume energy and the thought that they pollute the environment. Unfortunately, this also affects the market. I am very curious about how to overcome this problem.
That Bitcoin consumes a lot of energy, it's just theory. So, as many say that an electric car pollutes more than one combustion, as some claim.
If I take the numbers and make a comparison with other numbers of my interest, the result will be what I want.
So I don't argue whether Bitcoin uses too much or too little energy. It spends the necessary energy.
The point is that if for a moment there is a power outage in some location, bitcoin completely stops working in that location, even if it is for a few hours or days.
From the looks of it, even the media itself or in this case the crypto-based media is also betting on that proposition that Bitcoin uses too much energy. An article that I just read said that there was an estimate by the University of Cambridge, and they suggested that Bitcoin mining consumes more than 120 Terawatt Hours (Twh) per year. And that amount of electricity used in a year is like more than the electricity usage of the countries like Malaysia, Sweden or Argentina. It also said that "The report also stated that bitcoin could rank in the top 30 energy consumers if it were a country".
Source: https://www.livemint.com/market/cryptocurrency/how-does-bitcoin-mining-impact-the-environment-11620898893877.html
One of the most important points that bitcoin and crypto money has been criticized recently is the energy issue. They were subjected to many negative criticisms for their need to consume energy and the thought that they pollute the environment. Unfortunately, this also affects the market. I am very curious about how to overcome this problem.
That Bitcoin consumes a lot of energy, it's just theory. So, as many say that an electric car pollutes more than one combustion, as some claim.
If I take the numbers and make a comparison with other numbers of my interest, the result will be what I want.
So I don't argue whether Bitcoin uses too much or too little energy. It spends the necessary energy.
The point is that if for a moment there is a power outage in some location, bitcoin completely stops working in that location, even if it is for a few hours or days.
One of the most important points that bitcoin and crypto money has been criticized recently is the energy issue. They were subjected to many negative criticisms for their need to consume energy and the thought that they pollute the environment. Unfortunately, this also affects the market. I am very curious about how to overcome this problem.
If you have a potato or lemon farm you can do this bro: D It is necessary to take precautions earlier for such situations. Keeping some cash or storing extra battery etc. However, there is nothing to do if electricity suddenly goes out all over the world: D In such a situation, the world would be like a place of doom. What happens if electricity suddenly goes out all over the world? If you dont have any idea then you should watch this series 
https://www.imdb.com/title/tt2070791/?ref_=vp_back
İmage source: https://en.wikipedia.org/wiki/Lemon_battery
Nice share, I think OP has not enough time to explore asking Internet about the options that's why he make this a Big deal while the truth is there are tons of options we can use to solve His problem. https://www.imdb.com/title/tt2070791/?ref_=vp_back
İmage source: https://en.wikipedia.org/wiki/Lemon_battery
and besides most of houses now had their own Generators in readiness for a power interruptions, and even has their at least Small solar panel in their Roof for extra energy saver.
I didn't say that we would be without power forever. Of course, this was widespread chaos, and the lack of energy would affect the entire economic system.
The point here is a temporary issue of several days.
I believe that all of us at some point in our lives, when we haven't had electricity for several hours (I don't even mean poorer countries).
And even then, if they need anything, we can go to a store to buy (even if that store also lacked energy).
The point here is, is it possible that Bitcoin can be used in some way at these times?
This will probably never be possible, but it can be an interesting point of analysis.
The point here is a temporary issue of several days.
I believe that all of us at some point in our lives, when we haven't had electricity for several hours (I don't even mean poorer countries).
And even then, if they need anything, we can go to a store to buy (even if that store also lacked energy).
The point here is, is it possible that Bitcoin can be used in some way at these times?
This will probably never be possible, but it can be an interesting point of analysis.
even bill gates saying crypto had impact on global warming . in some area using highest electric power bigger than any states for mining crypto it affect global warming its possible to make enviroment non eco friendly . he said bitcoin isn't environmentally friendly.4 Mar 2021 source here https://www.popularmechanics.com/science/a35717144/bill-gates-bitcoin-energy-climate/
If you want to completely exclude electricity from the equation,then the only option would be to just print paper satoshis and find someone,who will accept them as payment.Good luck. .
This will actually work fine without needing to verify transactions online. You just download your "offline Blockchain", print loads of private keys securely at a designated location, and spend them without the internet. Then update/sync your node with the rest of the once in a while.
*Better to print the keys/coins in small Denominations
if there is a power outage for a very long time then we will not use Bitcoin and other digital currencies. all of them need electricity so that computers and other electronic devices can be used properly.
I think that if the electricity around the world is not alive anymore then cryptocurrencies will also disappear and this is probably a sign that the end of the world is very near.
I think that if the electricity around the world is not alive anymore then cryptocurrencies will also disappear and this is probably a sign that the end of the world is very near.
I'll give you a number o solutions:
Buy backups like power banks, ups, gasoline, diesel or natural gas generators, solar panels...
A single industrial grade UPS can provide power for your phone, internet router and lights for many days. It can even power your fridge for a day if needed.
I always have a fully charged power bank and a chargeable light source at home.
Buy backups like power banks, ups, gasoline, diesel or natural gas generators, solar panels...
A single industrial grade UPS can provide power for your phone, internet router and lights for many days. It can even power your fridge for a day if needed.
I always have a fully charged power bank and a chargeable light source at home.
One thing that remains critical to using bitcoin is energy. Energy to mine, and validate transactions. Energy to trade. And energy to access our wallets.
But is it possible, to be able to use Bitcoin even when we don't have energy?
Today, if I run out of electricity at home and want to go buy some batteries, for a flashlight, I can go to a store with some fiat coins and buy batteries. But that would not be possible if you want to make that purchase in Bitcoins. This remains a very good advantage for fiat coins.
How can Bitcoin overcome this problem?
But is it possible, to be able to use Bitcoin even when we don't have energy?
Today, if I run out of electricity at home and want to go buy some batteries, for a flashlight, I can go to a store with some fiat coins and buy batteries. But that would not be possible if you want to make that purchase in Bitcoins. This remains a very good advantage for fiat coins.
How can Bitcoin overcome this problem?
I think energy to use bitcoin is not a problem if ever there will be an electricity collapse. We can use a solar power to save energy in our power bank so that we can continue use our bitcoin and other digital activities. But I think it won't happen because in our generation we already used modern technology that rely on electricity, So, people will always think and find many ways to sustain the electricity even in the future generation because the development of technology continuous even in the future.
If the world is without electricity all access to communication, the economy to clean water and offices will no longer operate, even making the current economic sector worse than the Covid-19 pandemic, it is like bitcoin without electricity, all access to mining, buying and selling transactions and communication between investors, traders are all disconnected and it can result in quite a big loss, as recently what happened in Xianjiang China, due to the blackout does show a fundamental weakness even though the Bitcoin network is decentralized. But the miners didn't, and it cost the miners a loss.
Electricity plays huge factor in our daily lives from household chores, work, businesses and economy. Especially now that we currently facing Covid-19 people used a lot of electricity in their home because majority work from home to economy to work. Also, in bitcoin electricity really play huge factor to it to work. Without it people can't invest and trade, mining and buying and selling. I think it's simple thing we weren't appreciate sometimes. One thing that remains critical to using bitcoin is energy. Energy to mine, and validate transactions. Energy to trade. And energy to access our wallets.
But is it possible, to be able to use Bitcoin even when we don't have energy?
Today, if I run out of electricity at home and want to go buy some batteries, for a flashlight, I can go to a store with some fiat coins and buy batteries. But that would not be possible if you want to make that purchase in Bitcoins. This remains a very good advantage for fiat coins.
How can Bitcoin overcome this problem?
But is it possible, to be able to use Bitcoin even when we don't have energy?
Today, if I run out of electricity at home and want to go buy some batteries, for a flashlight, I can go to a store with some fiat coins and buy batteries. But that would not be possible if you want to make that purchase in Bitcoins. This remains a very good advantage for fiat coins.
How can Bitcoin overcome this problem?
I wouldn't worry about it. For a short term emergency have some cash. For long term you will be dead.
https://www.powermag.com/expect-death-if-pulse-event-hits-power-grid/
If the world is without electricity all access to communication, the economy to clean water and offices will no longer operate, even making the current economic sector worse than the Covid-19 pandemic, it is like bitcoin without electricity, all access to mining, buying and selling transactions and communication between investors, traders are all disconnected and it can result in quite a big loss, as recently what happened in Xianjiang China, due to the blackout does show a fundamental weakness even though the Bitcoin network is decentralized. But the miners didn't, and it cost the miners a loss.
Most of the posts assumes that the electrical outage is localized, which isn't the point of this post if I understand correctly.
Exactly!
Perhaps the example I set was not the best.
But the point here is, that if there is a more widespread power failure (I don't even say it is global) the use of bitcoin is no longer possible.
It is common to say that the person must have a small reserve of money, along with the emergency kit, in case of a natural catastrophe. It is not possible to do this with bitcoin.
Of course, the lack of energy in such a situation is the least of our problems.
But was there any way to make bitcoin, something that can be used in a scenario where electricity is not an option? Perhaps that is impossible.
Even because it happens, with the money we have in the bank, if there is a general lack of energy.
I can't think of any way that bitcoin can be used if there is no source of energy, power bank included or any independent source of energy. So yes, we still do need cash in this scenario. Having bitcoin in your wallet is useless in this situation. But with today's situation, there will always be a source of energy unless, you are really in the remote area where you don't even know how to use solar/wind energy.
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This problem regarding electricity and bitcoin's waste of energy actually could push people forward to invent any energy generator that could sustain bitcoin while at the same time we find a way for bitcoin to solve its own problem of energy inefficiency.
I know there's plenty of solutions and that's already proposed to the bitcoin community but how about mini nuclear reactor to power the mining rigs, anyone?
Maybe we need something like PoW but better in managing the energy so most of them doesn't get wasted for nothing. However I personally like the idea to incentivize miners with renewable energy.
I know there's plenty of solutions and that's already proposed to the bitcoin community but how about mini nuclear reactor to power the mining rigs, anyone?
Maybe we need something like PoW but better in managing the energy so most of them doesn't get wasted for nothing. However I personally like the idea to incentivize miners with renewable energy.
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