Topic: what happens to Bitcoin if internet goes down? - page 20. (Read 34308 times)
if internet goes down then bitcoin would also go down to be honest and i think never good would happen
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Bitcoin will simply just stop functioning as it is, just like every other things that are internet-based.
Bitcoin's not only going to be one suffering from a loss of use. However, the bitcoins aren't lost since it's saved on a local server. Once internet is back up again, then miners would be able to continue working and bitcoin transactions are confirmed and coins circulating once again.
Bitcoin's not only going to be one suffering from a loss of use. However, the bitcoins aren't lost since it's saved on a local server. Once internet is back up again, then miners would be able to continue working and bitcoin transactions are confirmed and coins circulating once again.
Agreed, same as an website or other 'cloud' service. Unless the machines were wiped due an massive magnetic pulse, the network would just halt until the connections came back alive and it would function as normal.
If that happens then no one will be able to send bitcoins to their friends and family. We all know that bitcoin is a crypto currency done digitally. Every transactions were made through smartphones and computers and run by the internet. If that happens then people will just go back to old days like sending their money thru cash remittances.
you are right, that would be terrible as it would have a disastrous effect on bitcoin and bitcoins would just be destroyed and thats it, i would have to use paper money againBitcoin's not only going to be one suffering from a loss of use. However, the bitcoins aren't lost since it's saved on a local server. Once internet is back up again, then miners would be able to continue working and bitcoin transactions are confirmed and coins circulating once again.
Internet is vital for bitcoin, even when the technology is always using the internet.
if Internet down, all will die and Also we are most likely to live like antiquity, live without internet.
if Internet down, all will die and Also we are most likely to live like antiquity, live without internet.
If Internet goes down, there will be no Bitcoin transaction since it is all done online. In case the whole Internet data gets deleted, then Blockchain will be one of them. Bitcoin is just a data, so if the whole system is wiped out, then we will have to start from square one. Otherwise, when the Internet goes back, it'll be like the same as what it was before it went down. Nothing removed, nothing added.
If that happens then no one will be able to send bitcoins to their friends and family. We all know that bitcoin is a crypto currency done digitally. Every transactions were made through smartphones and computers and run by the internet. If that happens then people will just go back to old days like sending their money thru cash remittances.
you are right, that would be terrible as it would have a disastrous effect on bitcoin and bitcoins would just be destroyed and thats it, i would have to use paper money again
I am wondering a few things about that theoretical internet go-down:
If just the internet went out, but my computer is still running, could I still make transactions, and confirm them myself by running a mining softwear and finding a matching block?
How would a lack of internet influence the difficulty in mining?
If just the internet went out, but my computer is still running, could I still make transactions, and confirm them myself by running a mining softwear and finding a matching block?
How would a lack of internet influence the difficulty in mining?
I don't know how can internet go down in world just like that, also I don't know how will that affect on blockchain network, all I know is that people will go crazy without internet.
As young user here, I know about offline wallets. Smart people who have coins saved in this kind of wallets will keep their coins, others who keep money online will lose their coins.
People should be smart, and start to think about future. Keep your money safe and secure, also I read how people lose money at exchanger sites. I learned my lesson from reading about people experience, everyone should read what people wrote here.
As young user here, I know about offline wallets. Smart people who have coins saved in this kind of wallets will keep their coins, others who keep money online will lose their coins.
People should be smart, and start to think about future. Keep your money safe and secure, also I read how people lose money at exchanger sites. I learned my lesson from reading about people experience, everyone should read what people wrote here.
If internet goes down we all know bitcoin will not be usable for that period as Internet will not be available. Reality is not based on supposing since there are so many satellites and everything is connected internet will not go down. All banking systems will also become useless and people will not have access to fiat money as well. Banks and Bitcoin both are dependents on internet so no need to worry about it.
If that happens then no one will be able to send bitcoins to their friends and family. We all know that bitcoin is a crypto currency done digitally. Every transactions were made through smartphones and computers and run by the internet. If that happens then people will just go back to old days like sending their money thru cash remittances.
Basically if the internet goes down bit coin goes down. As far as i know bitcoin fully relies on internet so there's that. If you are talking about just down for a few weeks then probably bitcoin would get worthless again after that but might rise.
But I don't think that internet will ever go down, as almost all companies, businesses and individuals are dependent on internet and in future we will see more advancements in internet features.
It is possible that internet will crash if the satellites will be destroyed or there will be a huge war and all telecommunication lines including internet will go offline. That also may be the case of bitcoin, without the internet bitcoin will become a waste. But it is far from reality at this moment s there is no need to worry.
If internet goes down bitcoin become nothing. We know that bitcoin we use a internet to connect in our btc wallet if internet goes down bitcoin is going to be dead. Many people getting suicide if that will happen. I think many get crazy. But i think that is not gonna be happen to internet
Don't go overboard with it. People committing suicide? A know about a few guys who committed suicide after losing their life savings during the Mt Gox scandal. But such weak people are everywhere. Anyway... Bitcoin is a currency developed especially for internet transactions. So there is no point in having BTC, if the internet is not there.
If internet goes down then we wont be able to use bitcoin, because bitcoin is the digital currency, we cant exchange to fiat either, so bitcoin reaaly depends on the internet, without internet there wont be any transaction and with no transaction bitcoin will be dead
Internet will not shut down as many business and companies are using it , maybe if it will go down it will not be globally shut down but just specific country or region.
Yeah, I think that the internet will not be down and it's impossible to happen. because most of the activities are done using the internet and also space research is still done. So this would never have been to the growth of the bitcoin. Stay focused on our goals and don't ever turn away from our goals
Internet will not shut down as many business and companies are using it , maybe if it will go down it will not be globally shut down but just specific country or region.
Well body first of all you could never see the whole internet to go down entirely and if by some miracle way it does happen then I think you should be worried about other things than bitcoin, because it's not only bitcoin that could take damage from no internet but if only your internet is down you could use coffee nets or if in general internet is down then you only can wait and hope for the best because nothing you can do to solve the issue till the net is back online.
Basically if the internet goes down bit coin goes down. As far as i know bitcoin fully relies on internet so there's that. If you are talking about just down for a few weeks then probably bitcoin would get worthless again after that but might rise.
But I don't think that internet will ever go down, as almost all companies, businesses and individuals are dependent on internet and in future we will see more advancements in internet features.
what happens to Bitcoin if internet goes down?
It will crash.
see it as avacation from tradins, since not only you but everyone else can not trade, so you did not lose anything that day by not trading
or are you an obsessed trader that must trade everyday?
or are you an obsessed trader that must trade everyday?
No this won't happen. Bitcoin could go down but not internet so there's no use of talking on this topic. It's simply for time pass and doesn't makes any sense. But yea we get pleasure to talk something out of our syllabus right.
If internet goes down bitcoin become nothing. We know that bitcoin we use a internet to connect in our btc wallet if internet goes down bitcoin is going to be dead. Many people getting suicide if that will happen. I think many get crazy. But i think that is not gonna be happen to internet
you are right, i think that bitcoin is going to be destroyed only if internet goes downThat its impossible to happen in the future.. if it will happen almost everything will be useless.
hahaha Yeah all technology will die or explode! hahah Technology or Internet will die unless all people in this earth will be dead! . haha Impossible! . Then if it will gonna happen then ! Worst life ever! Because we are used to it that technology internet is helping us
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