Is it possible to use bitcoin like offline currency? - page 21.

Sengoko

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Quote from: richardsNY on October 29, 2017, 05:28:46 PM

Quote from: HasHe on October 29, 2017, 05:29:33 AM

But the big question is that which company would come forward to do so and how many people will trust it.Since there is no central authority for bitcoin being a decentralized currency,it seems highly impossible for that to happen.

It will not work out well when it comes to being a viable option for mass use. Everything you do will all come down to you exchanging private keys, and for that reason it will always be based on trust. If we browse through this thread, then we'll see that someone came up with something similar to what you're talking about (Google opendime) and despite them stating that it's 'bullet proof', I am not exactly sure how well it works out in reality. I would never ever trust something like that personally -- I just trust on my own cold wallets, and that's really it.

No I don’t have any idea to invest my bitcoin in any offline business and I think in my country it is not possible, because lots of people do not know anything about bitcoin, how they can accept bitcoin as real currency. So I think for me bitcoin is not usable for any offline business.

For me offline business means business in just my local markets because of the low investment and that’s why bitcoin is not the solution.

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Quote from: chineseprancing on October 29, 2017, 05:11:32 PM

I'm looking forward to the machine that accept bitcoin, because if we used this tools they can easily used bitcoin in different parts of the world, therefore they can used our bitcoin to simply buy items or goods even services.
Since bitcoin had no tools to used it like offline currency it's better to convert it first into cash for the mean time before used it into the market.

We are still in an early phase and as time goes on, innovations will start popping up and we will start seeing much more usage with ATMs, debit cards, POS and so on and so forth. For now, except for few online wallets with cards, the chances of still making use of what we have offline is still very limited and we may just have to stick with it until more solutions keep coming.

Quote from: Tantlizbat on November 01, 2017, 02:33:09 AM

No it is not possible to use bitcoin like offline currency because it is not regular currency and the people in ordinary places and small markets will never accept bitcoin as their payments.

Never say not possible on technical aspects. Century ago, human cannot fly, but we are using flights now. So, expect bitcoins to be used as fiats for offline usages in very very near future.

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Quote from: batang_bitcoin on October 28, 2017, 04:01:33 PM

Quote from: BillyTalent on October 28, 2017, 10:29:38 AM

Technically, this is possible. This has been proven by many users. But no one will want to do this and complicate their lives. Btkoin is the currency for online payments

Technically it's possible? Yes it's possible but there's no confirmation from the blockchain network if there's no internet. We know that bitcoin needs internet in able to be used. And that's why we can't use bitcoin if we are going to use it as an offline currency. All crypto's require internet in able to send to other wallets so if you really want to use bitcoin offline, you are doing it wrong.

No it is not possible to use bitcoin like offline currency because it is not regular currency and the people in ordinary places and small markets will never accept bitcoin as their payments. So I think that is not possible till date. May be after a long time in the far future it becomes possible but there are no signs for accepting bitcoin by the small communities people. They even do not know the name of bitcoin.

Yuhee

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Quote from: HEWRA on October 31, 2017, 09:01:23 PM

I think it is not possible, you would have to create some kind of "LAN" cryptocurrency, but it totally doesnt make sense for me, why would you use some cryptocurrency that is only available to use between few computers connected with one, same internet?

In runs in the internet world so i dont see any possibilities being it useful in an offline transactions. Offline wallets maybe but you really cant move around the money without out internet. Because you have to have internet in order to mine those things. Even these infrastructures have to make way in the web to mine the blocks and they really cant do it in offline basis.

HEWRA

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I think it is not possible, you would have to create some kind of "LAN" cryptocurrency, but it totally doesnt make sense for me, why would you use some cryptocurrency that is only available to use between few computers connected with one, same internet?

liseff3

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In fact, your answer is right on the target of the question, I myself haven`t been able to give the best answer at this time, given the The Central Bank is imposing new restrictions on bitcoin adopters such as shops, stalls, minimarkets, supermarkets, malls and markets, using bitcoin as ( method) means of payment.

But it`s probable that your answer may be different answer from their, whose country has legalized either bitcoin or altcoin as a means of payment.

jimn

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It is not easy to use bitcoin as a offline currency nowadays, because bitcoin is not supported in most countries, nor legalized, and as a resuly bitcoiners have to convert their bitcoins into fiat currencies in order to use it offline , or to withdraw it in cash.

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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?

Nowadays is not yet possible to be use as offline currency. It is only can be use for online electronic payment for the meantime.
But who knows someday bitcoin can be use even offline but I don't know how it will happen.

syaripudin

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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?

Bitcoin is a virtual currency that is not possible to be seen physically in my opinion if your friend wants to do a byline transaction with bitcoin should he do is first he must exchange the bitcoin he has to be converted into a new USD he can shop what he wants . but right now in my country there is one city that has some stores that are willing to accept payments with bitcoin by transferring BTCs that we have to the shopping sites they have. and this also can your friends do as long as in the city that he singgahi there are stores that want to receive payment with bitcoin.

Godric-Gryffindor

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It is possible to use bitcoin on basic marketplace given that you exchange you bitcoin into fiat currency then move that into your ATM or bank account then that time you can use your bitcoin however there's store and some convenient market that offer goods paid in bitcoin and other cryptocurrency alternative to bitcoin

olubams

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I don't think its possible to use bitcoin online at this time because its done via the internet and everything relies on it. How do I even want to have access to my wallet without the internet? I don't see the possibility of that at the moment even buying from online sites, there some sort of intermediary to make it happen rather than doing directly to the site. I think the best way out is to convert to fiat then buy what you want to buy and stop giving yourself the headache of looking for who to accept offline.

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Currently Bitcoin is not a major payment method worldwide so it will not be in the trade but you can trade it in US dollars or your country's currency is still available.

Willitivity

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Bitcoin is a Cryptocurrency and by its nature, can only be used over the internet.
You can use it to pay for services online and also buy things.
It is not a Fiat currency

kissme09

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Bitcoin is an online currency but you can sell it in your own country where it can be used. That answer is reasonable, but it is only used in online markets but it has a high real value. Its quite high that 1 bitcoin = $ 6000 I do not know how valuable it is but for my country it is a pretty big amount...

Siren

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Bitcoin is for on-line used only because to fully maximized its used to need to be connected to the internet. It can't be used for online transaction. I think that's the simple explanation you can give to your friend. Also bitcoin is considered by some as digital currency, i.e. a currency that can be used in online only. I really don't know if bitcoin can be really used for offline though because its impossible to transaction without it connected to the internet.

haroldtee

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Quote from: Nameless27 on October 30, 2017, 12:28:38 AM

The best answer to what your friend have asked is as simple telling the truth. It can’t but you don’t have to worry about that if that makes him more uncomfortable with bitcoin knowingly that he can’t used it on that way then let him be. Does it really matters? Because the last time I know about this generation we are more online than offline in more of the time. It’s like we can’t even live without internet nowadays. So be honest to him and that be the best answer.

That is true, this generation is always online most of the time. Everything has gotten smart, technologies are now smart and easy to use, the use of internet is getting much more than we have had in times past, so over time, we may just end up getting used to it after all.
However, we will still see the possibilities, just like payoneer back then, of having our wallets linked to a card that we can always make use of probably with a fee and then be able to make use one's asset without logging in to our wallet most times.

ronafurw

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Quote from: Fireblade on October 28, 2017, 06:46:39 PM

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?

No I don’t think so because bitcoin is a digital currency and digital means no physical existence and no physical existence means that no one can use it offline. You must need computer and internet to use your bitcoin. Your account is computerized and computerized means need computer to use. That’s why I think that bitcoin cannot be used offline. It can be used only online and need with computer and internet.

Till date I don’t think so that bitcoin can be used like paper currency, because you can use your local or any other paper currency anywhere but in bitcoin it is not possible till date because most of the people do not even know about bitcoin how they can accept bitcoin and the other problem is this that the restaurants, hotels, shops and any other place have no idea especially in my community to accept bitcoin.

Pasabm

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I think bitcoin can not be used offline currency, because almost all bitcoin transactions are done online. Explain to him that bitcoin is a digital currency that can only be used online.

OrangeSeller

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Quote from: Rana590 on October 27, 2017, 09:23:03 PM

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?

We know that internet is most important element for bitcoin. Without internet, we can't think the process of bitcoin. It is an online based crypto currency. It is not designed for offline. For transaction and use it, internet connection is must be needed.

To this day I don’t think so that bitcoin can be used like paper currency, because you can use your local or any other paper currency anywhere but in bitcoin it is not possible till date because most of the people do not even know about bitcoin how they can accept bitcoin and the other problem is this that the restaurants, hotels, shops and any other place have no idea especially in my community to accept bitcoin. Therefore I think that using bitcoin like offline currency is not possible.

Wipro

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Quote from: Digital_Lord on October 30, 2017, 03:13:21 AM

Quote from: Rana590 on October 27, 2017, 09:23:03 PM

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?

We know that internet is most important element for bitcoin. Without internet, we can't think the process of bitcoin. It is an online based crypto currency. It is not designed for offline. For transaction and use it, internet connection is must be needed.

Bitcoin is one of the digital currency. There is no way that you can use this kind of digital currency and that too without having an internet connection. You definitely need a good internet connection if you want to do anything related to bitcoin and all other coins present in the world of crypto currency. You cannot use any of the crypto currency like offline currency.

It may be possible in the future needs if there is any adoption in the future by the finance corporates like Payapl or some others. You may find the offline option to receive the bitcoin via application to another mobile application. If someone create those kind of application. They will be honored in the forum by the concern project team.

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