what happens to Bitcoin if internet goes down? - page 30.

chaser15

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Quote from: iqlimasyadiqa on May 04, 2016, 08:17:47 AM

bitcoin works with the Internet. and if the Internet is down or is not there then we can not do anything with our bitcoin. without internet bitcoin will not be anything. bitcoin transactions are internet intermediaries.

That's why Banks play important roles in the scenarios like that. Those bitcoin lovers that hates bank are nothing if internet or online connection goes down. Please keep in mind for those bank haters that bitcoin and bank play big role in financial system.

De_Signer

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Internet is quite everywhere, it's just unbelievable that it could disappear from our lives, so such questions is no more then rhetoric.

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Quote from: plost24 on May 04, 2016, 07:46:25 AM

this generation can't live without internet so even if bitcoin will fall off when internet go down even this generation will fall too so don't worry bitcoin is always safe :p

That is true, this generation cannot life without the internet but I cannot blame because school now a days force you to make use of the internet not that it is a bad thing but it is true.

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Quote from: plost24 on May 04, 2016, 07:46:25 AM

this generation can't live without internet so even if bitcoin will fall off when internet go down even this generation will fall too so don't worry bitcoin is always safe :p

NO Sir, how can bitcoin will safe, when internet go down forever, so simply Bitcoin has been finished, just like all other things of internet has been finished. but new generation can't live without internet, they feel just a heart attack.

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bitcoin works with the Internet. and if the Internet is down or is not there then we can not do anything with our bitcoin. without internet bitcoin will not be anything. bitcoin transactions are internet intermediaries.

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Quote from: fenican on May 04, 2016, 08:01:14 AM

Physical bitcoins like Casascius coins, with a private key hidden in a difficult to counterfeit tamper proof seal, could be used.

Then the problem is: how can you verify it has not been spent already?

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Physical bitcoins like Casascius coins, with a private key hidden in a difficult to counterfeit tamper proof seal, could be used.

plost24

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this generation can't live without internet so even if bitcoin will fall off when internet go down even this generation will fall too so don't worry bitcoin is always safe :p

jethrorn99

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Internet's going down is almost impossible, but it's just a prediction.

If internet is down all over the world, then bitcoin is no longer functional. Bitcoin will be useless to use since their main base of operation is using internet.

Without internet = Bitcoin is useless.

LCSociety

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If the internet goes down many things are likely to happen with Bitcoin... at least pricewise.

If you look at all the other major financial bubbles, disrupted access initially causes lower prices as everyone begins to assume that they have "lost everything..." This always leads to increased speculation due to the lower price caused by 'perceived' loss of value. But lower prices in a highly sought after asset class ALWAYS sparks a HUGE bubble

So, if the internet were to go down. Zero access to the blockchain would cause bitcoins perceived value to fall initially... Then people would realise how impossible it is for the internet to be 'permanently' shut down, due to the fact that large segments of our economy exist solely online.

Thus, everyone would rush to buy physical representation of bitcoins... Casascius physical bitcoins.. sparking a bubble, which would lead to exorbitantly inflated, sky high prices for casascius physical coins

Then.. once the internet is restored, smart money will instantly sell and take their profits.. which will bring the price of BTC crashing back down to the level it was at before the "entire internet" went down

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Signature shitposters would have to figure out some other way to turn their contentless annoyance into micropennies.

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Quote from: Mr. Big on April 29, 2016, 02:58:24 AM

Quote from: NewBet on April 29, 2016, 12:54:48 AM

If internet really go down , the scene will like the movie “ Transcendence " in the end..
Of course bitcoin will go down too, i mean completely disappear...

Well, I don't think that internet would go down and be gone for a long time and in the whole world...But I think if ever the internet goes down, Bitcoin would also die and along with other things that survives because of internet..

yeah maybe, It never happen If its possible then at a moment nothing is possible without internet, If internet will die then bitcoin community should take another idea as internet because without it we can't transaction even or it dependent on the internet.

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Quote from: davinchi on May 02, 2016, 09:56:53 AM

Quote from: wuvdoll on May 01, 2016, 09:50:09 AM

Quote from: InsideBjorn on April 22, 2016, 04:20:36 AM

The chance is really small that the internet will goes down, but if that is going to happen than there are a lot of people that is going to be mad and Bitcoin will maybe disappear.
But dont talk about things that the chance is really small that can happen.

The chances are really very small that internet go down and I think it will happen only if a war started and everyone started to destroy each other and each othersâ€™ technology, then it is a possibility that internet go down and everyone lose their businesses and money.

Yes, if it happened everyone will be mad, they will lose all their wealth and those who are relying on internet for their business will lose access to their business and their lives will be destroyed.

Truly every user depending upon bitcoin will get mad of it, but such situation won't happen anytime. The reason that in future everything is completely depending on internet.

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Quote from: wuvdoll on May 01, 2016, 09:50:09 AM

Quote from: InsideBjorn on April 22, 2016, 04:20:36 AM

The chance is really small that the internet will goes down, but if that is going to happen than there are a lot of people that is going to be mad and Bitcoin will maybe disappear.
But dont talk about things that the chance is really small that can happen.

The chances are really very small that internet go down and I think it will happen only if a war started and everyone started to destroy each other and each others’ technology, then it is a possibility that internet go down and everyone lose their businesses and money.

Yes, if it happened everyone will be mad, they will lose all their wealth and those who are relying on internet for their business will lose access to their business and their lives will be destroyed.

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Quote from: NewBet on April 29, 2016, 12:54:48 AM

If internet really go down , the scene will like the movie “ Transcendence " in the end..
Of course bitcoin will go down too, i mean completely disappear...

If it goes down, every one will go nuts. Can't you see how reliant are we with internet. Almost everything is done through internet now a days. It is not only bitcoin that will be effected, but everything else.

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Quote from: NewBet on April 29, 2016, 12:54:48 AM

If internet really go down , the scene will like the movie “ Transcendence " in the end..
Of course bitcoin will go down too, i mean completely disappear...

If it goes down, every one will go nuts. Can't you see how reliant are we with internet. Almost everything is done through internet now a days. It is not only bitcoin that will be effected, but everything else.

BitFomo

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If the internet goes down, all other services goes down too.... this includes ATM's providing the fiat and also credit and debit card services and PayPal. A situation like that is more

devastating than most people think. The blockchain would survive, because it's decentralized... and as soon as internet connectivity can be re-connected, things would go back to

normal. {Satellite links, will not be disrupted, but it will be over loaded by military chatter and also be reserved for their communication} In the short term after such a attack, we

will have to go back to the bartering system... then we go back to Bitcoin.

Grillo

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If internet goes down, bitcoin will be the last of your worries...

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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

well the blockchain is stored offline in many computers. but bitcoin won't be able to send / receive new transactions until the internet goes back up. pending transactions would also stay pending. if the internet goes down forever, thats a pretty big problem.

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Quote from: Jasad on April 22, 2016, 04:36:08 AM

Quote from: vero on April 21, 2016, 06:24:40 PM

Quote from: Gubzy on April 21, 2016, 06:19:40 PM

I think if the internet went down you wouldn't even be able to send bitcoin to people, as bitcoin is on the internet. And maybe bitcoin would be lost if it was being sent, although I really don't know.

I think not only bitcoin which became worthless but also human life would be worthless because we can't deny now the internet is a human need.

not sure with you all,i think if internet goes down,blockchain will take the local transaction,so bitcoin can still moving from people to people. and i'm also sure if internet goes down,people will back to like internet never exist,nothing to be waorry about,

There are some people who have their bitcoins in their online wallets they will lose their money ane the other thing is that people not only have their coins in their wallets and not only do transactions but their have their online businesses related to bitcoin technology.

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