Bitcoin without electricity - page 3.

Anonylz

hero member

Activity: 2562

Merit: 577

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?

How can btc overcome this problem when it is regarded as digital currency, and by digital it means something that process numbers or digits which are not represented physically like you have in fiat, which like you said is a disadvantage to using cryptocurrency as against fiat currency,
The only way I see this can be overcome is by having physical btc (if it will be possible) otherwise in a situation where there is total electricity outage there will be serious difficulties to access crypto.

masphie

full member

Activity: 896

Merit: 102

-= OI =-

I think electric power is very dominant in all aspects, you could say that electricity is our main need at this time.
Maybe bitcoin doesn't really care about electricity, and what really needs electricity is us. Because if we lose electricity then we can't mine bitcoin or anything else. Whereas bitcoin itself doesn't matter if there is no electricity.

Darker45

legendary

Activity: 2576

Merit: 1860

We are still largely dependent on electrical companies. Power generation, transmission, and distribution are mostly provided by electrical grids so that when these operations are cut off, most of the houses, businesses, and other public and private establishments won't have electricity anymore. If Bitcoin were the main currency and payment system in such a scenario, commerce would also be highly disrupted.

However, in many urban centers, fuel-powered generators are always available to use whenever the main electric source is out. So business as usual. There is also a growing number of 100% off-grid business establishments and houses so Bitcoin transactions could still proceed despite power outages.

greyday

member

Activity: 434

Merit: 52

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

meser#

legendary

Activity: 1358

Merit: 1000

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

jackg

copper member

Activity: 2856

Merit: 3071

https://bit.ly/387FXHi lightning theory

Put a wireless charger on the payment processor or anywhere in the store. A contactless card is also being charged by the till when you put it on a scanner, it's one of the reasons you have to activate it first (I think) and definitely the reason why the more you use it, the easier it is to scan.

In Europe this is kinda already a thing if you have custom in a restaurant or a bank you could expect to use a plug if one is available. Many places also have charging areas too outside for homeless people and people on breaks from work etc.

joker_josue

legendary

Activity: 1722

Merit: 4711

**In BTC since 2013**

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?

Topic: Bitcoin without electricity - page 3. (Read 429 times)