Is it possible to use bitcoin like offline currency? - page 11.

doomloop

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Quote from: futile-resistance on December 18, 2017, 01:05:16 AM

Quote from: Gumpfire on December 15, 2017, 10:12:19 AM

Quote from: Sohailul on October 27, 2017, 01:57:37 PM

Few days ago a friend asked me this questions. But i cannot understanding that how to i give him answer. At last i said him that, bitcoin is an online currency. Only this currency used in online marketplaces. It is not possible to use it in offline marketplace like offline currency.

But what is your best answer of this question?

Actually in other country like Japan and USA are now accepting bitcoin as mode of payment but it will take a lot of time to be get accepted world wide because other country think it as a threat. Is is advantages to have bitcoin in offline transaction because it is very convinient that is why I prefer to have this kind of transaction.

The concept of crypto currency is the online system, if it is being used offline than it will effect the ledger system which is being maintained in different parts of the world. Those ledger systems will not be able to track the offline transactions and let’s say if any transaction has occurred in offline manner, then the beneficial party will not be able to use it, until the ledger gets updated. It is better to bring everyone online than to make online/offline system.

This will turn the world more hassle and I think all crypto currencies are online currencies now. Shopping with bitcoin and other currencies are requiring now internet connection because without this it is not possible. Now many things are able to buy and with even online currency and I know bitcoin will help a lot of other online goods to buy then I think there is no high need of real money does exist but online currencies are pretty important.

futile-resistance

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Quote from: Gumpfire on December 15, 2017, 10:12:19 AM

Quote from: Sohailul on October 27, 2017, 01:57:37 PM

Few days ago a friend asked me this questions. But i cannot understanding that how to i give him answer. At last i said him that, bitcoin is an online currency. Only this currency used in online marketplaces. It is not possible to use it in offline marketplace like offline currency.

But what is your best answer of this question?

Actually in other country like Japan and USA are now accepting bitcoin as mode of payment but it will take a lot of time to be get accepted world wide because other country think it as a threat. Is is advantages to have bitcoin in offline transaction because it is very convinient that is why I prefer to have this kind of transaction.

The concept of crypto currency is the online system, if it is being used offline than it will effect the ledger system which is being maintained in different parts of the world. Those ledger systems will not be able to track the offline transactions and let’s say if any transaction has occurred in offline manner, then the beneficial party will not be able to use it, until the ledger gets updated. It is better to bring everyone online than to make online/offline system.

YTBitcoin

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Quote from: Kez1817 on December 11, 2017, 12:14:55 AM

Bitcoin is a digital currency that use online through internet thats why it is impossible to use it offline. Maybe if government accept it and make it as a tangible currency like our money we can use it offline.

Yes, bitcoin can not be used offline because the concept of bitcoin is that its an online crypto currency which can be used for your transactions online. Another reason is that there are thousands of ledgers being maintained online for the transparency of the bitcoin, so the problem with offline transactions is that it will not be added into the online ledger. As there are millions of transactions of bitcoin per day so there will not be any transparency in the block chain method.

Astvile

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I think it cant still developers need to develop bitcoin to be able to use in offline transaction which seems imposible because we all know we need internet access in order to access bitcoin wallets.So it seems like using as offline currency yes you can but you cant dispose and transact offline

JCLee

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Quote from: bigmaster23 on December 15, 2017, 01:44:47 PM

It is also possible to use it offline 'cause there's a lot of exchanging bank that are accepting bitcoin it can literally use to buy things with your local currency but the question have a two meaning if it is can use offline to buy something on the streets or something that you want to buy at local store your friend might be curious about this but try to explain her/him the most possible idea of what bitcoin has.

LOL. I don't think so. Bank don't wanna accept Bitcoin cause it can affect a lot to bank system so there are no bank that accept Bitcoin exchange yet. At the moment when Bitcoin is not legalized in any where I think people still need to exchange Bitcoin into cash through some exchange like Coinbase cause it's almost impossible to find out an offline place that accept Bitcoin for payment.

Tungsten-1

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Quote from: jrrsparkles on December 15, 2017, 10:23:38 AM

Quote from: Sohailul on October 27, 2017, 01:57:37 PM

Few days ago a friend asked me this questions. But i cannot understanding that how to i give him answer. At last i said him that, bitcoin is an online currency. Only this currency used in online marketplaces. It is not possible to use it in offline marketplace like offline currency.

But what is your best answer of this question?

It is not possible in today economic situation but in future there is a possibility for using bitcoin as offline currency.if it is possible bitcoin will reach every person in the world and it can be used for basic and personal uses so we do wait for that.it possible quickly.

You cannot use your bitcoin or any other crypto coin which you are having just like normal regular currency. There is no way in fact with which you can treat any of the online currency just like an offline currency. Having an internet connection is a must thing which you do need to have to do any sort of operation related to any of the cryptocurrency may it be bitcoin or any other coin.

bigmaster23

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It is also possible to use it offline 'cause there's a lot of exchanging bank that are accepting bitcoin it can literally use to buy things with your local currency but the question have a two meaning if it is can use offline to buy something on the streets or something that you want to buy at local store your friend might be curious about this but try to explain her/him the most possible idea of what bitcoin has.

jrrsparkles

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Quote from: Sohailul on October 27, 2017, 01:57:37 PM

Few days ago a friend asked me this questions. But i cannot understanding that how to i give him answer. At last i said him that, bitcoin is an online currency. Only this currency used in online marketplaces. It is not possible to use it in offline marketplace like offline currency.

But what is your best answer of this question?

It is not possible in today economic situation but in future there is a possibility for using bitcoin as offline currency.if it is possible bitcoin will reach every person in the world and it can be used for basic and personal uses so we do wait for that.it possible quickly.

Gumpfire

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Quote from: Sohailul on October 27, 2017, 01:57:37 PM

Few days ago a friend asked me this questions. But i cannot understanding that how to i give him answer. At last i said him that, bitcoin is an online currency. Only this currency used in online marketplaces. It is not possible to use it in offline marketplace like offline currency.

But what is your best answer of this question?

Actually in other country like Japan and USA are now accepting bitcoin as mode of payment but it will take a lot of time to be get accepted world wide because other country think it as a threat. Is is advantages to have bitcoin in offline transaction because it is very convinient that is why I prefer to have this kind of transaction.

bitllionaire

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Quote from: michkima on December 13, 2017, 05:03:48 AM

I find the question quite absurd because the answer is quite plain and simple. It would have to be a YES only if you would convert the same to fiat currency. Nonetheless, if you meant that you can transact (pay, send, withdraw, loan, among others) with Bitcoin offline, then maybe if you have an app or software especially designed for that purpose. All I know is that you can store your Bitcoin offline but as to that, I am not fairly familiar.

Bitcoin is a currency made for online transaction, it is naturally not to be used as offline currency. You can only store bitcoin offline with a hardware wallet or in a paper wallet but during the time of its storage it can’t be used for any kind of payment. There may evolve another currency after people are tired of crypto which may work both as offline and online. The traditional banks are already using the fiat with this method.

ArnoldChippy

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Quote from: perfect999 on December 11, 2017, 05:57:40 AM

Quote from: bakunawaaa on November 18, 2017, 09:11:36 AM

The answer is it cannot be. Because there would be no one who will verify the transactions. The block chain technology is only possible through the internet.

There is surely no way at least for now which is why fiats will always still be able to find a way. However, if we are looking at it in the form of cash when you have to make payment directly with paper currency, then that may not be replaced, but in the case of ATM or POS transactions, this can evolve.

So many things can change with development and a time may come or which we are already seeing with wallet connected cards which can still make us use our cryptocurrencies without having to connect online all the time. I feel it is just a matter of time before we start seeing such.

Sorry if this hurts your emotions but the truth is that cryptocurrency don’t have the guts to make its way without the support of fiat. The value of cryptocurrency is measured in exchange to fiat therefore it will always need fiat. Without a doubt there are many developments occurring rapidly in the bitcoin and other digital currencies such as wallet connected cards but it can’t be the remedy for paying transaction fee. Cryptocurrency transaction fees are unbearable, you have to pay a fee of above $15 for transferring $2 value bitcoin which is not logical.

KEPLER99

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Quote from: mware on December 13, 2017, 04:12:36 AM

maybe you can make offline transaction but you need to be connected to the internet in order to make the transaction live on the blockchain.

The concept of offline currency is very much different from that of crypto currency. The paper money is just a physical form of money and there is no use o0f internet or laptops or personal computer while dealing with paper money.

However, in case of bitcoin and other crypto currencies all these things carry a very significant importance. You cannot perform any action till the time you are not connected to internet.

akram143

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Bitcoin is an online currency then how can we use it as an offline currency. Huh

If someone can give physical structure to bitcoin then we may use it in offline but currenctly we need internet connection to use bitcoins.

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Quote from: mware on December 13, 2017, 04:12:36 AM

maybe you can make offline transaction but you need to be connected to the internet in order to make the transaction live on the blockchain.

Making offline transactions are possible and you can do it with someone but that doesn't make sense if someone that calls for an offline transactions says that bitcoin is good for it. We know that blockchain is connected to internet and transactions are rounding there and getting confirmed with internet so as of now there is no way to use bitcoin as offline currency because it needs confirmation from the miners/network.

lenovo16

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Quote from: Sohailul on October 27, 2017, 01:57:37 PM

Few days ago a friend asked me this questions. But i cannot understanding that how to i give him answer. At last i said him that, bitcoin is an online currency. Only this currency used in online marketplaces. It is not possible to use it in offline marketplace like offline currency.

But what is your best answer of this question?

For me I think it cant be happen. Because in the first place bitcoin was done online. So it means it will not access the full feature of a bitcoin if your not online. You can't also make any transaction during offline. So I think bitcoin become useless if you offline because it is really done online. Then , if you are plang to use BTC as an offline currency I dont think it will be sucessful.

/GeertJohan

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Quote from: Sohailul on October 27, 2017, 01:57:37 PM

Few days ago a friend asked me this questions. But i cannot understanding that how to i give him answer. At last i said him that, bitcoin is an online currency. Only this currency used in online marketplaces. It is not possible to use it in offline marketplace like offline currency.

But what is your best answer of this question?

Nope it cannot be possible.. The bitcoin name is also defined which it is a digital currency. Then how it can possible and more than that if we cannot have a internet connection how can we processing a transaction.. If it become a centralized with having physical shape may it will be possible.

michkima

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I find the question quite absurd because the answer is quite plain and simple. It would have to be a YES only if you would convert the same to fiat currency. Nonetheless, if you meant that you can transact (pay, send, withdraw, loan, among others) with Bitcoin offline, then maybe if you have an app or software especially designed for that purpose. All I know is that you can store your Bitcoin offline but as to that, I am not fairly familiar.

mware

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maybe you can make offline transaction but you need to be connected to the internet in order to make the transaction live on the blockchain.

batang_bitcoin

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Quote from: kyanscadiel on December 11, 2017, 11:47:12 PM

I don't think so. It is not possible because bitcoin is powered by internet. Every transactions that is bitcoin involve can only be use with the help of the internet. Without internet you cannot get through your transactions.

Impossible to happen for now, miners confirm transactions with internet and if ever it will be an offline currency. It can be use through paper wallet but still before claiming it still needs to go through a process with internet. Well this world needs internet and we can't almost do anything without it, transactions are happening digitally with the help of it even the banks that we are withdrawing on ATM's still it requires internet.

Blockfolioz

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I don't find that it's possible to use bitcoin similar to the offline currency, because each and everything gets recorded to an data ledger that has got connectivity through out. Maybe in future something advanced might get evolved supporting offline usage of bitcoin as well other digital currencies.

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