what happens to Bitcoin if internet goes down? - page 15.

Tatalk

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Quote from: cryptolives on December 14, 2015, 03:54:45 AM

given the cayos happening in the world i wouldn't be surprised of nuclear war and in this case i would expect internet disruption question is what happens to Bitcoin if internet goes down?

home internet and mobile internet goes down

do not mean trade bitcoin to buy/sell i mean using it as a way of payment say you wanted to send money to someone abroad for family far away

Obviously if internet goes down, then entire BTC world would be stopped. As BTC or any other cryptocurrency is entirely based on the internet and I think this would be the biggest disadvantage of any cryptocurrency because they are the virtual one whose mode of transaction is completely based on access to internet. But in this modern era, I guess no internet connection is completely hypothetical because not only cryptocurrencies but our other needs are also dependent on internet so this is impossible but if worst happen and internet goes down then obviously there is no bitcoin.

Peashooter

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Quote from: ShrykeZ on December 14, 2015, 05:15:10 AM

Well we will not longer be able to trade in Bitcoin although if the internet completely went down then we are in for a storm of problems.

If the internet connection goes down the price of bitcoin will also goes down and I agree that you could not able to trade in bitcoin and in any cryptocurrency. In addition to that, if the the internet goes down it have a negative effect in bitcoin community and industry and it will become our big problem.

barabut

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No bosy can cut the internet to stop the crypto currency market, this is not the way to do or limit the activity but at the end the authorities shall try to regulate the market.

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Quote from: cryptolives on December 14, 2015, 03:54:45 AM

given the cayos happening in the world i wouldn't be surprised of nuclear war and in this case i would expect internet disruption question is what happens to Bitcoin if internet goes down?

home internet and mobile internet goes down

do not mean trade bitcoin to buy/sell i mean using it as a way of payment say you wanted to send money to someone abroad for family far away

Internet completely shutting off seems impossible or unlikely to happen but if it somehow happen bitcoin will not disappear, It will stay there until internet goes back. It's just you will not be able to transfer bitcoin or buy and sell bitcoin. Well,It is not only bitcoin who will be affected when this happen, All of the crypto will experience the same thing.

snekinmyleg

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Quote from: 1Referee on December 14, 2015, 04:06:40 AM

If something like that happens, then you will need to use your fiat currency or gold or any other precious metals. I don't even think about this scenario. It's too far away, if ever.

Bitcoin is heavily dependent on the Internet, and if the crash is severe, we will not be able to participate and track Bitcoin anymore. I think it is advisable to develop a way to pass Bitcoin directly through small banks and create paper-based Bitcoins.

Sexie

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Quote from: cryptolives on December 14, 2015, 03:54:45 AM

given the cayos happening in the world i wouldn't be surprised of nuclear war and in this case i would expect internet disruption question is what happens to Bitcoin if internet goes down?

home internet and mobile internet goes down

do not mean trade bitcoin to buy/sell i mean using it as a way of payment say you wanted to send money to someone abroad for family far away

. Bitcoin without internet , of course, disabled, especiallly when we are n trading or selling Bitcoin. We dont even abled to monitor transactions So hard without internet, because Bitcoin runs only with this. As being a digital currency, we cant do anything about it. But if were sending money to anybody around the world, we need cash through bank to bank bases that they can be processed when internet is available. In any transactions without internet we need cash.

Emerge

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Without internet Bitcoin is gone, so if the internet goes down bitcoin goes too.

Clauston

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Quote from: Kezio on January 09, 2018, 10:41:05 AM

Let's put it this way, the internet has become a bridge that connects people. It has become a vital resource for a multitude of industries and some fields depend on it for their existance. The latter is the case of cryptocurrency, which was created to give more freedom when it comes to the financial part of more and more businesses. Without that bridge, as everyone else stated, Bitcoin would become redundant.

More than a bridge is a way of life, the internet no longer depends on us, it is totally the opposite and I doubt it ceases to exist, there would have to be a thousand-year-old revolution to stop existing. And with the flow of BTC and the new cryptocurrencies, it is impossible

Kezio

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Let's put it this way, the internet has become a bridge that connects people. It has become a vital resource for a multitude of industries and some fields depend on it for their existance. The latter is the case of cryptocurrency, which was created to give more freedom when it comes to the financial part of more and more businesses. Without that bridge, as everyone else stated, Bitcoin would become redundant.

Ayush rana

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Bitcoin is a digital currency which means every time bitcoin needs internet connectivity. If there will be no internet then there will be no bitcoin and even no one will do trade because we can't do transactions without internet.

droptableguy2

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Quote from: Sevarchik on January 09, 2018, 09:09:03 AM

Internet can't switch of in all continents in one time.
If this happened bitcoin networks stops and wait when we launch internet, then it continue working.
If one of the continents switch off internet, btc network continue working without this continent, and when he connect to internet again he download full blockchain and also continue using network

If the bitcoin is broken, online transactions will not be possible and that is bad for the investors. I will not be able to imagine what I would do with my bitcoin number without the internet, I would sit and watch my fortune without doing anything, it was a nightmare for me.

cybersofts

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Once the internet is down the bitcoin peer-to-peer network is down. Once the bitcoin network is down there is no way to transfer bitcoins. Bitcoins without internet they would be like a cell phone with GSM network. Phone without network is basically worthless to the same thing might apply to bitcoin without the internet.

KingOfWinterfell01

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Quote from: cryptolives on December 14, 2015, 03:54:45 AM

given the cayos happening in the world i wouldn't be surprised of nuclear war and in this case i would expect internet disruption question is what happens to Bitcoin if internet goes down?

home internet and mobile internet goes down

do not mean trade bitcoin to buy/sell i mean using it as a way of payment say you wanted to send money to someone abroad for family far away

If the internet fails and dies, the blockchain dies as well, thus killing every cryptocurrency circulating around the world, killing the industry of mining and cryptocurrency trading. If that happens, everyone who sold their house for bitcoins are crying a river.

Sevarchik

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Internet can't switch of in all continents in one time.
If this happened bitcoin networks stops and wait when we launch internet, then it continue working.
If one of the continents switch off internet, btc network continue working without this continent, and when he connect to internet again he download full blockchain and also continue using network

cryptocue

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Maybe bitcoin would be worthless at the time it happened,but hopefully it wont happen in the near future.

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Quote from: ShrykeZ on December 14, 2015, 05:15:10 AM

Well we will not longer be able to trade in Bitcoin although if the internet completely went down then we are in for a storm of problems.

If the internet goes down there is lot of problem facing of bitcoin. Because internet is the bridge in business in the whole world. How we communicate and transact if internet goes down.

Danglen1010

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I think it will also goes down, but I think the creator of bitcoin will think some other medium of bitcoin, that's why bitcoin is good.

sapnu

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Quote from: foxbitcoin on December 14, 2015, 04:02:44 AM

Quote from: cryptolives on December 14, 2015, 03:54:45 AM

given the cayos happening in the world i wouldn't be surprised of nuclear war and in this case i would expect internet disruption question is how do we trade bitcoin during this time if we can't access internet.

home internet and mobile internet goes down

Bitcoin network completely breaks down. no hash power, no node. no confirmation, then we have to go cash, like dollar, euro.

Definitely theres no transaction that can happen when there is also no internet connection. We know all of that because it sinks to our minds that when you are taking access to bitcoin you should have internet connection too amd a gadget to use.

loof99

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Internet is the most vital services of all business structure here in the whole world and I think it will cause a big problem if the internet slowly goes down or out of commerce.
The bitcoin will lose their demands since they will not be able to provide a good service.

Baby Dragon

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Quote from: ShrykeZ on December 14, 2015, 05:15:10 AM

Well we will not longer be able to trade in Bitcoin although if the internet completely went down then we are in for a storm of problems.

Internet is the fastest way to transact in all kind business in the whole world. If internet goes down its a big problem a calamity in business world and we cannot trade bitcoin we dont have profit to gain.

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