Bitcoin without electricity - page 2.

blckhawk

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Quote from: joker_josue on May 12, 2021, 05:19:03 PM

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?

For now, I don't think we can do something about it because Bitcoin is a digital currency and that means it must have energy for you to operate it so there's no way you can make a transaction with Bitcoin if you run out of electricity. That is the reason why it can never replace fiat in that way, so yeah fiat is much better to use in this kind of circumstances. Besides, I think everything will be a mess if we ran out of energy not only Bitcoin but the majority of the transaction across the world whether it is physical or virtual.

davis196

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Anybody asking the questions "How to use Paypal without electricity?" or "How to use your online banking account without electricity?" NO,but such questions arise only when it comes to Bitcoin.I wonder why... Grin

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. Grin

The modern civilization can't exist without electricity.Maybe in the not-so-distant future,the people will produce energy from the solar panels on their roofs,so they won't rely on power plants.

Kittygalore

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Quote from: MrcMrc on May 13, 2021, 05:38:28 AM

Electricity is as crucial as the internet to Bitcoin, it’s important to know the role electricity play in Bitcoin not only miners need high electricity to confirm transactions, and even the ordinary bitcoin user needs electricity to power your device to connect to the bitcoin network.

It's not just crucial in my opinion, it is the lifeline of our civilization, I stand by the words of George Carlin about electricity, when we pull the plug out of electricity, chaos will ensue and things will never be the same and we will go extinct as a species really fast.

Oasisman

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Quote from: joker_josue on May 12, 2021, 05:19:03 PM

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?

The real question is, how can humans overcome "IF" this kind of problem occurs.
Why would we always assume to things which is almost impossible to happen.
There are still several relevant problems of Bitcoin other than the absence of electricity, because we have different type of electricity sources.

MrcMrc

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Electricity is as crucial as the internet to Bitcoin, it’s important to know the role electricity play in Bitcoin not only miners need high electricity to confirm transactions, and even the ordinary bitcoin user needs electricity to power your device to connect to the bitcoin network.

Ucy

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I think it's possible to create a product with something like paper/leather/polymer that has Bitcoin private keys that's sealed by panel that can be scratched or peeled off without scratching off the keys.
You could have thousands of such papers/materials printed and distributed by trustworthy Decentralized Companies for offline buying and selling of goods and services without verification of the private keys. You can always scratch off the panel and verify the private keys when you find network/electricity, Or you can keep using the paper/material to buy and sell without scratching off the panel. Once the panel is scrated off, the paper is taken off from circulation.
This could be safer than paper fiats... afterall, you can't guarantee that the paper fiat is not counterfeit unless maybe the banks verify it.

Sanugarid

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Quote from: greyday on May 12, 2021, 08:31:12 PM

If the world was suddenly without electricity we'd have much bigger problems than currency.

I highly agree with your statement. Instead of worrying about what will happen to BTC without electricity, it should be what will the world looks like when the world runs out of power. Without electricity, every aspect of human life is affected and It feels like you were living in a stone age where money does not really matter. It's all about survival after all.

Alucard1

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Almost every aspect of our lives would be a problem once we get out of electricity, Electricity is very important in our lives especially in the economy and I don't think that choosing a currency to use would be the main problem once we have that kind of problem, our economy would suffer from it because for sure all of the business and companies will get closed once they don't have electricity anymore. Based on your thread, it shows that there are still a lot of things that bitcoin cant do that fiat can do for us, bitcoin still needs something to improve to be used as the standard currency in the future.

Bilgent

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Bitcoin mining actually don't have to use only electricity. Renewable energy can be used and there will be no need for high electricity consumption anymore. Besides, renewable energy already started being used for mining and I hope it will cut the need for electricity completely in time.

zanezane

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Quote from: greyday on May 12, 2021, 08:31:12 PM

If the world was suddenly without electricity we'd have much bigger problems than currency.

Exactly, money is the least of our worries because our civilization just warped back in stone age condition when all of electricity around the world is shut off indefinitely, and with the first 24 hours, millions are going to die.

joker_josue

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Quote from: ranochigo on May 12, 2021, 11:43:25 PM

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.

iTradeChips

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Let us just say in a world without electricity, I think the obvious question is, what will happen to the blockchain? Is it something like a database file that can be reactivated once the main computer housing that database can be turned on after a few years of no electricity? We know that in blackouts, the internet guarantees that the information would be available anywhere in the world since some part of the world is still connected. But if the whole world is without electricity, then aside from losing the blockchain access (your wallet is safely stored in your computer), then all other aspects of the world that needs electricity will be affected as well and we will all be preparing the dark ages.

stompix

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Quote from: ranochigo on May 12, 2021, 11:43:25 PM

Most of the posts assumes that the electrical outage is localized, which isn't the point of this post if I understand correctly.
The answer is not possible. If there is no electricity, then Bitcoin cannot function. The same happens if there is no way to communicate with others as the network cannot transfer information.

Exactly, pretty weird that when clearly the OP says no energy something it's just that the power grid is down and they as an individual will get a new power source. But what about the others, miners, nodes, what about the guy who would receive that transaction, how is he supposed to get power?

The clear answer is that Bitcoin can't exist without electric energy just as card payments will not.

Quote from: maxreish on May 12, 2021, 11:55:24 PM

Bitcoin definitely can not work without the energy but since there are many ways to acquire energy, then bitcoin can still work using those alternative method.

And how can a protocol that is a bunch of code be able to acquire energy on its own?
The question was pretty simple, can bitcoin work without energy? No, it can't!
Until Bitcoin Core comes with a pack of nanobots that on install they strat building a solar panel and a wind turbine connected to your computer the whole network will still be depended on the power grid, just like every dan thing in our lives, from the coffee maker I just used to the computer I'm typing this answer.

bL4nkcode

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Bitcoin is dependent on energy-electricity from your phone/desktop/tablet's battery where your wallet is installed which also require internet to connect the blockchain for validation that also needs energy/electricity to work.

As for your question, we will go to the argument that bitcoin is just an alternative to fiat not replacement. So the use of bitcoin can't solve that.

AniviaBtc

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If the world were to suddenly run out of electricity, there will be huge detriments not only in the economy but practically to every aspect of every one's life. Hospitals will be practically useless. Along with supermarkets, malls, facilities, and by stretch even agriculture and food production. We'd all die of starvation, some will die due to diseases, and some due to the panic and mental stress the event will cause.

Nowadays, in our generation, it is really hard to live without electricity as our lives revolve around it.

Imagine living in the dark when the night comes, imagine society without communication, do you think we can endure that?

How much more in bitcoin, it is a digital currency that only exist in the internet, It will surely fall and also I think cash will also become worthless.

maxreish

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There are other source of energy, Sun for example can be used as a solar energy that can distribute electricity. Bitcoin definitely can not work without the energy but since there are many ways to acquire energy, then bitcoin can still work using those alternative method. Aside from the source of energy we are using right now, wind energy can also be an alternative.

So, you see. We can still mine bitcoin using those various source of energy. But then again, fiat is more accessible because of its physical existence.

Wexnident

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Err as long as the store you're going to accepts Bitcoin, I think you can still transfer funds to it even without electricity in your home (granted you have your phone with you and it's charged). If it wasn't though, then generally it isn't possible since a transaction's prerequisite is that you have a medium to use for transfer in the first place. Fiat uses hands, while crypto uses mobiles (at the minimum) I suppose. There may be other mediums, but in the end, those mediums require electricity so really without it, it isn't possible.

ranochigo

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Most of the posts assumes that the electrical outage is localized, which isn't the point of this post if I understand correctly.

The answer is not possible. If there is no electricity, then Bitcoin cannot function. The same happens if there is no way to communicate with others as the network cannot transfer information. Even if you were to use something like OpenDime or pre-signed transactions, there is no way to check it as the Blockchain cannot function. Your currency can only be something that doesn't require electricity to function and there would probably be far more serious issues to be concerned about at that point.

Sithara007

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Quote from: joker_josue on May 12, 2021, 05:19:03 PM

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?

The concern raised here is 100% valid, but the example being given is wrong. In case the electricity goes out for a few hours, we will still be able to use our laptops and mobile phones. And the internet connection will not be disrupted. Even if the electricity disruption lasts for a longer period, there are other options such as invertors and portable solar panels. And if you still insist, then we can use physical Bitcoins (such as the ones issued by Casascius many years ago).

famososMuertos

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Quote from: joker_josue on May 12, 2021, 05:19:03 PM

...//...
:,,,
How can Bitcoin overcome this problem?

-...Trust!!

- / ____
Then, I'm actually not very clear with his point, if there is no electricity (!?) Common sense tells you ... wait for him to come back !! or not?

Lithium batteries work very well and can last up to 24 hours, so cell phones work very well for transactions. In these times there are so many ways to generate energy.

For confirmations !! the distribution of nodes around the world allows this to be done 24/7/365.
________ / -

G.B.

Topic: Bitcoin without electricity - page 2. (Read 427 times)