Is it possible to use bitcoin like offline currency? - page 22.

Digital_Lord

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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.

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.

Nameless27

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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.

richardsNY

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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.

chineseprancing

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Quote from: mharz on October 29, 2017, 04:06:56 PM

Quote from: Tigerheart3026 on October 29, 2017, 01:08:51 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?

If you are asking it for now in our generation, my answer is not possible. Because, we all knew that bitcoin can only be used through internet connection and nothing else. Meaning, no internet bitcoin is useless for sure.

Since bitcoin is a digital currency it is impossible to used it as offline currency, however if the crypto currency create and release physical currency it was not included as electronic money. Maybe there's a possible to used it in local if they were provide a machine that accept bitcoin in each stores or shop. But for now it's hard to believe that they can do it for short period of time.

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.

mharz

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Quote from: Tigerheart3026 on October 29, 2017, 01:08:51 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?

If you are asking it for now in our generation, my answer is not possible. Because, we all knew that bitcoin can only be used through internet connection and nothing else. Meaning, no internet bitcoin is useless for sure.

Since bitcoin is a digital currency it is impossible to used it as offline currency, however if the crypto currency create and release physical currency it was not included as electronic money. Maybe there's a possible to used it in local if they were provide a machine that accept bitcoin in each stores or shop. But for now it's hard to believe that they can do it for short period of time.

Tigerheart3026

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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?

If you are asking it for now in our generation, my answer is not possible. Because, we all knew that bitcoin can only be used through internet connection and nothing else. Meaning, no internet bitcoin is useless for sure.

HasHe

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Bitcoin is a digital currency and so it could not be used offline.But if a reputable company comes forward and issues physical coins for bitcoins and gives assurance that it would pay for the current market price of bitcoin if that physical coin returned,then there is a chance for bitcoin to be used offline.

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.

Sadlife

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Indeed bitcoin can only be used in an online store and market right now but it is slowly making making progress from surpassing that limit to be able to use online bitcoin as of now is developing bitcoin ATMS, and physical coins that can be used to buy goods and daily neccessities i believe there is an article in the web about it . Bitcoin is open source so its not impossible for people to find ways to use it offline.

ralle14

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It's possible to use bitcoin on a day to day transaction like fiat it depends on the place if they accept alternative payments but I wouldn't use them on small transactions like food and drinks because the transaction fees are skyrocketing as of the moment 70k satoshi or $4 just to get a fast confirmation. Fiat is much better to use and you'll save more if you think about it.

bluemongrel

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Not possible, but the world is getting so connected that it shouldn't be a problem in the future.

Fireblade

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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?

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.

batang_bitcoin

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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.

Hannahanto

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Crypto currencies were all created online. Bitcoin is all about online based crypto. As of now, the bitcoins based transactions can be done only online. Hope to have all other options like other currencies would be set soon. We can expect this happen as bitcoin is in line with massive growth.

mostkey

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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

I just think that using bitcoin offline is not possible, because bitcoin usage requires access to internet and internet connection is the main capital to make payment using bitcoin. and for offline use I never thought that it could really happen, but all there is a way, and could be realized and mingkin there is an application that supports it without the internet

steveabrahams

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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 it's possible to use bitcoin in offline marketplace. The problem is are there any place that accept bitcoin in real life as the payment ? Because it's really rare especially in my country. I don't know about other country but there is no marketplace or shops that accept bitcoin here, maybe it will happen in the future.

iqlimasyadiqa

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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?

The bitcoin system still runs online. But if you mean offline store then it could happen, now it's a lot of offline stores that start receiving bitcoin like restaurant and some seller of electronic goods. So make sure that nowadays many bitcoin users understand this. Bitcoin still uses the online system and requires an internet connection to make transactions.

dunfida

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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?

From the word itself you could already answer that stuff from the wordonline currency then its understandable it is really be used for online transaction knowing that bitcoin doesn't have physical form which can be used on offline just like on local fiats.For now adoption doesn't reach on that state where bitcoin can be used like fiats and I do believe it would just still remain as it is.Bitcoin is solely being created for that purpose.It might be adopted later on but it wont really come to a point to be used offline.Hope this explanation would help you out.

BillyTalent

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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

Edrian

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I think it's not possible cryptocurrency are made for online purposes without internet there's no cryptocurrency. It will shut down and lots of investment will be lost, especially to the large companies that invest in bitcoin. You can't send or receive bitcoin without internet. the connection is essential it is the brain of trading. That is one of the risk factors of having a large amount of bitcoins but don't worry, the chances that it will happen is so small especially our technology is improving same on the internet.

BlackBi88

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IMO, bitcoin at the present can not replace offline currency. Bitcoin is only traded online. If the Internet becomes popular, people will be able to access it everywhere. Bitcoin will probably replace offline currency. In my country, a number of universities have begun to pay tuition fees by bitcoin Grin

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