Nooo... I don't want an app like that, it will make me look like a mocachino drinking bumbandit, the only time I could use it is when the power goes off at night and all the lights go out
the important question here is ,do you drink mocachinos ?
Topic: Power Blackouts - Does Bitcoin keep on ticking? (Read 3832 times)
the important question here is ,do you drink mocachinos ?
The point is, could Bitcoin still work in case of blackouts, and if so, could it be more resilient than centralized credit card networks?
My estimate above: no.
My estimate above: no.
That is if the merchant is prepared and has access to one of those card swipers (either the Square dongle or the dedicated one you referenced). Though with a Square account you can also do Card Not Present transactions to then manually enter the card.
But you are likely correct -- as long as there is even just mobile communications and battery powered mobile / tablet / laptop devices, the existing payment systems can continue to function even with an extended power outage. Bitcoin doesn't really offer merchants anything they need in this scenario.
As far as enabling person-to-person exchange if the ATMs are down, I still think Bitcoin is uniquely positioned for that.
- http://www.youtube.com/watch?v=QoRlyPZ3zJ0
- https://bitcointalksearch.org/topic/m.1026722
Is that digimo thingy using bitcoin already? I don't see anything much in the 'how it works' section but whats there could be running on bitcoin.
Worried what would happen if com's broke down long enough for the blockchain to split to, isn't there a system in development to allow splits and merges though?
Worried what would happen if com's broke down long enough for the blockchain to split to, isn't there a system in development to allow splits and merges though?
Digimo was just an example I used. I liked the fact that no extra hardware is needed to make their system work. PM me if you want more info.
Bitcoin does no better. Even bitcard does not better. At some point you need to connect to the wider internet. If your bitcoin merchant terminal can do that then so can your CC merchant terminal. If it can't then unless you plan on accepting unconfirmed transactions which may be double spends you are just as dead in the water.
apparently the bitcoincard network scales without problem. So in the case the bitcoincard net covers the whole city, there needs to be only one gateway (or connected blockchain server), which is a much weaker demand than network access at each merchant.
So in that case the bitcoincard does indeed better.
Nooo... I don't want an app like that, it will make me look like a mocachino drinking bumbandit, the only time I could use it is when the power goes off at night and all the lights go out
I added a bit before you replied. There should be a POS system similar to this ( http://digimo.biz/ ) soon.
Niko, it seems that things only works with iphone, while bitcoin works on every phone 
Doesn't work on my blackberry. 
Try an android or tizen or meego based smartphone. They are all based on Linux.
You are all missing my point because you are obsessing over irrelevant details. Here is a relevant detail, along the line of your comments: electricity or not, Bitcoin currently doesn't work for point-of-sale payments. In most places there are zero merchants accepting BTC. But that's not the point of this thread. The point is, could Bitcoin still work in case of blackouts, and if so, could it be more resilient than centralized credit card networks?
My estimate above: no.
Mobile is relevant.
Part of your thoughts on "merchants" is being worked on as you read this.
Mobile is equally relevant for Bitcoin and for credit cards. There is no advantage of one over another in case of blackouts.
Niko, it seems that things only works with iphone, while bitcoin works on every phone
Doesn't work on my blackberry. Try an android or tizen or meego based smartphone. They are all based on Linux.
You are all missing my point because you are obsessing over irrelevant details. Here is a relevant detail, along the line of your comments: electricity or not, Bitcoin currently doesn't work for point-of-sale payments. In most places there are zero merchants accepting BTC. But that's not the point of this thread. The point is, could Bitcoin still work in case of blackouts, and if so, could it be more resilient than centralized credit card networks?
My estimate above: no.
Mobile is relevant.
Part of your thoughts on "merchants" is being worked on as you read this. Something like this → http://digimo.biz/
Niko, it seems that things only works with iphone, while bitcoin works on every phone
Doesn't work on my blackberry. Try an android or tizen or meego based smartphone. They are all based on Linux.
You are all missing my point because you are obsessing over irrelevant details. Here is a relevant detail, along the line of your comments: electricity or not, Bitcoin currently doesn't work for point-of-sale payments. In most places there are zero merchants accepting BTC. But that's not the point of this thread. The point is, could Bitcoin still work in case of blackouts, and if so, could it be more resilient than centralized credit card networks?
My estimate above: no.
Niko, it seems that things only works with iphone, while bitcoin works on every phone
Doesn't work on my blackberry. Try an android or tizen or meego based smartphone. They are all based on Linux.
Clients aren't really heavy on bandwidth either, even if the GSM network goes down a 56k modem could keep things up to date and would probably be enough for a blockchain only access point.
I was thinking a sat-link.
Niko, it seems that things only works with iphone, while bitcoin works on every phone
Doesn't work on my blackberry. 
Niko, it seems that things only works with iphone, while bitcoin works on every phone
You will need a blockchain, though. Or someone you trust, who has a copy, and whom you can communicate with, and who has connections to other peers.
I believe that is included, if I read this right:
https://en.bitcoin.it/wiki/Block_chain
If I am wrong, someone please correct me.
Currently 1.75 GB, and growing.
http://blockchain.info/charts/blocks-size
Or just check the size of the Bitcoin folder on your PC.
I have the entire blockchain on 3 separate laptops that run 24/7 but i was thiking of ditching the lot
and switching to multibit or electrum
is it of any benefit to the network for most people to be running the full client and blockchain or could almost
everyone switch to a lite weight wallet that only downloads the block info but not the entire block ?
the 51% attack is harder the more people are running a full copy of the blockchain, is that correct ?
At the merchant-customer level, any argument in favor of Bitcoin in case of blackouts equally applies to credit cards.
You will need a blockchain, though. Or someone you trust, who has a copy, and whom you can communicate with, and who has connections to other peers.
I believe that is included, if I read this right:
https://en.bitcoin.it/wiki/Block_chain
If I am wrong, someone please correct me.
Currently 1.75 GB, and growing.
http://blockchain.info/charts/blocks-size
Or just check the size of the Bitcoin folder on your PC.
I've just returned from a holiday on the islands of Palawan in the Philippines.
We visited El Nido and Coron.
Both these places have very poor electricity supplies with regular brownouts (when sections of the town suddenly lose their electricity for several hours). Virtually every establishment runs a generator so they can stay in business during these times.
Wifi is everywhere and free and you can almost always find a connection.
On our last day, the complete banking system of Coron failed - the 3 ATMs in the town stopped working and businesses were unable to accept credit card payments. We were left with about $5 equivalent in cash and ate instant noodles before we made it out alive.
I had a computer and bitcoins - the situation was perfect for bitcoins if only businesses would accept it or money exchangers would exchange it. The economy would have been boosted becasue we would have been able to spend more and freely instead of watching out pesos dwindling away
We visited El Nido and Coron.
Both these places have very poor electricity supplies with regular brownouts (when sections of the town suddenly lose their electricity for several hours). Virtually every establishment runs a generator so they can stay in business during these times.
Wifi is everywhere and free and you can almost always find a connection.
On our last day, the complete banking system of Coron failed - the 3 ATMs in the town stopped working and businesses were unable to accept credit card payments. We were left with about $5 equivalent in cash and ate instant noodles before we made it out alive.
I had a computer and bitcoins - the situation was perfect for bitcoins if only businesses would accept it or money exchangers would exchange it. The economy would have been boosted becasue we would have been able to spend more and freely instead of watching out pesos dwindling away
Thanks for that.
Those businesses are prepared then for a power outage. Where power is relatively stable most businesses simply must close in the rare instances that power is out.
As far as exchangers it only takes a few in a large metro area to get things started. Right now the list of traders on LocalBitcoins is starting to grow -- globally. So, let's say there is a multi-day outage (for example, physical damage to multiple parts of electrical distribution infrastructure).
Basically starting just with those few who are already familiar with how bitcoin works, they could basically fast-track adoption of bitcoin. Simply print up (or have community print themselves) paper bitcoins from BitAddress.org -- then fund them with small denominations (e.g., $5s, $20s and a couple $100s.) Then work with a few key merchants to accept these paper bitcoins (scanning the QR codes to redeem the coins).
This handful of individuals wouldn't likely have many bitcoins themselves but many in the community would have relatives and businesses outside the affected area that could buy and send bitcoins to bitcoin addresses for the paper bitcoin wallets. These individuals then could facilitate exchange, providing fiat for those without smartphone mobiles or laptops.
The biggest barrier is that bitcoin isn't known to the merchants and exchangers and they wouldn't move very quickly towards this. But if this scenario were to occur some day, it will get some press as a novel solution -- digital currency to the rescue, and will be tried the next time it happens elsewhere, and will spread from there. Hopefully.
I've just returned from a holiday on the islands of Palawan in the Philippines.
We visited El Nido and Coron.
Both these places have very poor electricity supplies with regular brownouts (when sections of the town suddenly lose their electricity for several hours). Virtually every establishment runs a generator so they can stay in business during these times.
Wifi is everywhere and free and you can almost always find a connection.
On our last day, the complete banking system of Coron failed - the 3 ATMs in the town stopped working and businesses were unable to accept credit card payments. We were left with about $5 equivalent in cash and ate instant noodles before we made it out alive.
I had a computer and bitcoins - the situation was perfect for bitcoins if only businesses would accept it or money exchangers would exchange it. The economy would have been boosted becasue we would have been able to spend more and freely instead of watching out pesos dwindling away
We visited El Nido and Coron.
Both these places have very poor electricity supplies with regular brownouts (when sections of the town suddenly lose their electricity for several hours). Virtually every establishment runs a generator so they can stay in business during these times.
Wifi is everywhere and free and you can almost always find a connection.
On our last day, the complete banking system of Coron failed - the 3 ATMs in the town stopped working and businesses were unable to accept credit card payments. We were left with about $5 equivalent in cash and ate instant noodles before we made it out alive.
I had a computer and bitcoins - the situation was perfect for bitcoins if only businesses would accept it or money exchangers would exchange it. The economy would have been boosted becasue we would have been able to spend more and freely instead of watching out pesos dwindling away
If your bitcoin merchant terminal can do that then so can your CC merchant terminal.
I guess the difference I was thinking was a merchant can use a mobile or tablet (battery powered devices) to being accepting payment through bitcoin whereas the merchant POS and CC terminal might not have battery backup (or not sufficient battery backup for an extended outage lasting many hours.)
You will need a blockchain, though. Or someone you trust, who has a copy, and whom you can communicate with, and who has connections to other peers.
I believe that is included, if I read this right:
https://en.bitcoin.it/wiki/Block_chain
If I am wrong, someone please correct me.
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