Is it possible to use bitcoin like offline currency? - page 17.

richardsNY

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Quote from: palle11 on November 14, 2017, 12:13:08 PM

This is one thing that differentiates bitcoin from paper money.

Largely, yes. However, paper money is nothing more than a 'promise' that you have a certain amount of funds. In the same way, a paper wallet containing a private key with a certain Bitcoin value too. Difference is that people everywhere in the world will accept paper money as long as it is not counterfeit, while with a paper wallet the far majority of the people will just ignore you since there is no way to verify its actual value. If the government for whatever reason decides that they will deem your paper money not valid anymore, you from that point hold a bunch of worthless paper bills that no one will accept anymore.

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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?

There are some countries that have legalized bitcoin and in those countries can already use bitcoin as a tool for payment. You do not need to be confused to answer the question, you can say bitcoin can be an offline payment tool if the seller accepts bitcoin as a means of payment.

Owillz

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Quote from: Eadefemi on November 14, 2017, 10:58:02 AM

There will definitely be limitations. First, it is decentralized and second, it is not yet widespread

yea. there will likely be. so i guess the obvious answer to the thread question is a NO!

bravehearth0319

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BItcoin is an online used payment transaction not use for offline purpose. That's why if you have no internet bitcoin will be useless only and won't give you a profit anyway. So if you like to have bitcoin profit , you must have an internet connection.

milewilda

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Quote from: palle11 on November 14, 2017, 12:13:08 PM

Quote from: @prashant on November 13, 2017, 05:47:36 AM

Its not just about bitcoin only,any digital currency will not work without internet.but in future exchanges will start issuing voucher type of code which can be traded offline ,if you paying or giving it someone else.but in that case also you need internet connection to apply it.so digital currency or virtual currency is different from fiat thats why it is called digital currency.

Really and except something like a magic happens, bitcoin might not be accessible without the internet and especially because blockchain technology is internet based. This is one thing that differentiates bitcoin from paper money.

It would turn out to be more hassle if we do have those kind of system which do have an offline voucher incase if theres no internet. Then what would be the purpose of physical money? This would really be just a senseless idea and come to think off that internet would be gone,its an impossible thing knowing that most things now do need internet and if its lost then there would really be a big problem.

palle11

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Quote from: @prashant on November 13, 2017, 05:47:36 AM

Its not just about bitcoin only,any digital currency will not work without internet.but in future exchanges will start issuing voucher type of code which can be traded offline ,if you paying or giving it someone else.but in that case also you need internet connection to apply it.so digital currency or virtual currency is different from fiat thats why it is called digital currency.

Really and except something like a magic happens, bitcoin might not be accessible without the internet and especially because blockchain technology is internet based. This is one thing that differentiates bitcoin from paper money.

Eadefemi

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There will definitely be limitations. First, it is decentralized and second, it is not yet widespread

Owillz

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Quote from: gee777 on November 14, 2017, 09:23:39 AM

I think using bitcoin as an offline currency will reduce its security in a way...

i doubt because i think if it comes to the point of using it for offline transaction, there will measure put in place to check every security threat.

gee777

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I think using bitcoin as an offline currency will reduce its security in a way...

Owillz

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Quote from: sangkler11 on November 04, 2017, 02:41:38 AM

I think bitcoin only can be used as currency digital, if bitcoin used offline transaction need time to explain to the public about bitcoin,And that's a lot of people who refused.

exactly, and will take a whole lot of time to get the whole public to accept it over the currency they already know.

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Quote from: LogitechMouse on November 13, 2017, 08:35:23 AM

No internet, no bitcoin so its impossible to use bitcoin like an offline currency. If you want to use bitcoin or earn bitcoin, then you must go to a place with internet connection to have access with it.

Yes no internet definitely no bitcoin, because bitcoin is intended to have an internet access. Internet access is very important not only for bitcoin but for our economy. To make things easy and simplier, it is necessary to have internet to have things faster.

LogitechMouse

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No internet, no bitcoin so its impossible to use bitcoin like an offline currency. If you want to use bitcoin or earn bitcoin, then you must go to a place with internet connection to have access with it.

mkcube

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As of now in my country i never heared offline currency accepting bitcoin like supermarket, malls and other establishment but in the future it is not possible that it can be used for payment nationwaide

@prashant

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Its not just about bitcoin only,any digital currency will not work without internet.but in future exchanges will start issuing voucher type of code which can be traded offline ,if you paying or giving it someone else.but in that case also you need internet connection to apply it.so digital currency or virtual currency is different from fiat thats why it is called digital currency.

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Quote from: sparveenat on November 12, 2017, 02:04:42 AM

It is not possible to use bitcoin like offline currency. And the concept of bitcoin is only cruptocurreny which required internet connection to access. The rate of bitcoin will not allow you to deal like other normal currency.

Yes, that’s true, it is not possible, you can’t use Bitcoin as an offline currency.
You should know that whenever you mention offline, there are somethings involved. Bitcoin is digital, you can’t touch it, but can only see it with the help of your computer or mobile device.

It works with internet, and you need to have your data connection or WiFi switched ON before you can use it. If you switch OFF your internet access, then you won’t be able to use Bitcoin.

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Quote from: Oo ako to on November 06, 2017, 10:24:59 PM

Quote from: EMS-007 on November 06, 2017, 10:11:07 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?

Bitcoin is a digital currency in which you can't use without internet connection..Hoping there'll be a reloadable Bitcoin card someday which can be use even without internet connection.. Wink

Bitcoin atm card will be the solution for this problem. Banks and some businesses are now planning to make this come true. It will just work just like a credit card and debit card that people are used to.

We all know this thing that bitcoin is a digital currency and there is no way that we can use it if we are not having an internet connection. Internet is the fundamental thing which we need to have if we want to use bitcoin or even want to invest in bitcoin.

There is no possible way at the very present moment with which we can use bitcoin just like other offline currencies. You can expect this thing in the future.

Yukyzu

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offline currency up until now can not be replaced, although bitcoin is currently being used, but it has not been able to replace offline currency. maybe the next 5 or 10 years if bitcoin still survives.

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Quote from: Flomo on November 12, 2017, 04:14:29 AM

yes, bitcoin is a digital currency that can be used online, and bitcoin is a digital investment asset.

Read it again, the title says "offline" not online. And I doubt it that everyone can deal with their transactions through offline. That's very impossible for now, look at the transactions there's too much delay for many incoming transactions. 179k transactions are unconfirmed and it's an online network, what if everything goes offline? 1M transactions unconfirmed.

Flomo

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yes, bitcoin is a digital currency that can be used online, and bitcoin is a digital investment asset.

sparveenat

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It is not possible to use bitcoin like offline currency. And the concept of bitcoin is only cruptocurreny which required internet connection to access. The rate of bitcoin will not allow you to deal like other normal currency.

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