what happens to Bitcoin if internet goes down? - page 35.

KennyR

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Quote from: cjmoles on March 31, 2016, 03:35:24 PM

As far as I understand....the internet can go down and uá´‰oÉ”Ê‡á´‰q transactions can still take place locally. Transactions can still take place from phone to phone and when the internet comes back up, then those transactions can be broadcast to the full nodes. My question would be....could I profit off of mining if my rig is prepared for it? It seems that there's opportunity somewhere in between the transitions of the big pools going down and then coming back online....Is anyone else prepared for that too?

It is not realistic to make transactions when the internet goes down. Everywhere for transaction purpose internet is needed.

bamboylee

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Quote from: MTBTT on March 30, 2016, 08:09:38 AM

Quote from: Ubertroco on March 30, 2016, 06:18:31 AM

I think its like what will happen with Internet Banking if internet goes down.... it ceases to exist

I think not just internet banking but all activities using the internet bank. if the internet is down they certainly can not enter data with offline right ?

This is true. My bank does not even accept deposit when it is offline even if it is my branch and I am confident with my account number. I think the same will happen to bitcoin since it is dependent to internet connection.

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Quote from: Farma on March 29, 2016, 11:02:32 AM

Quote from: Hellacopter on March 29, 2016, 10:52:20 AM

If internet goes down, not only Bitcoin will disappear but also many online jobs and it will affect for sure the most part of the used currencies worldwide; but i think if internet goes down that's mean there is really a very serious issue happened in world

true, the internet is an important point of all online businesses on the internet, even bitcoin. if the Internet slows down, all business transactions online process decrease and make the quality is reduced, it will happen to all that online even bitcoin and paypal

Nice point, for online payment there is not only bitcoin but there are lot of other payment system which are also enough famous and people have a huge amount of money at there. So, worrying based on bitcoin is completely meaningless in my view.

cjmoles

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As far as I understand....the internet can go down and bitcoin transactions can still take place locally. Transactions can still take place from phone to phone and when the internet comes back up, then those transactions can be broadcast to the full nodes. My question would be....could I profit off of mining if my rig is prepared for it? It seems that there's opportunity somewhere in between the transitions of the big pools going down and then coming back online....Is anyone else prepared for that too?

Blackmet

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Quote from: HilbillyFred on March 31, 2016, 07:32:01 AM

Quote from: justspare on December 14, 2015, 04:11:04 AM

If the internet goes down, Bitcoin is rendered useless, you pretty much can't do anything. But I doubt that the internet will ever go down, as in like fully shutdown across the whole world.

Yeah if the internet goes down many companies not only Bitcoin would go down with it. The internet has become so important in today's world.
Almost nobody can live without it, at least I can't.

Internet is main media and information platform it's using eveyware so bitcoin it's just a part of it and when internet goes down it will be just useless.

bakingbad

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Quote from: greBit on March 31, 2016, 01:22:42 PM

Quote from: adibe on March 31, 2016, 05:57:07 AM

Quote from: Zuminest on March 31, 2016, 04:57:26 AM

if internet goes down, sure there is no life for bitcoin and all the bitcoiners will be found upset.. but that won't happen very easily.. by chance if internet is lost, we can regain it and can give life to bitcoin again...

Nah, i'm sure internet never goes down. If internet goes down, it will make a chaos in the world. Even bitcoin is dead too, because bitcoin is life because the internet itself.

Yes it is highly impossible internet will go down....it is same as saying without electricity can i charge my phone, laptop or electronic devices...if internet goes down then obviously btc also will not work.

well i have seen something on a daily decrypt that it would be actually possible for it to work without internet connection

i hope that internet will never die because it would be really hard to use bitcoin and together make any money

greBit

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Quote from: adibe on March 31, 2016, 05:57:07 AM

Quote from: Zuminest on March 31, 2016, 04:57:26 AM

if internet goes down, sure there is no life for bitcoin and all the bitcoiners will be found upset.. but that won't happen very easily.. by chance if internet is lost, we can regain it and can give life to bitcoin again...

Nah, i'm sure internet never goes down. If internet goes down, it will make a chaos in the world. Even bitcoin is dead too, because bitcoin is life because the internet itself.

Yes it is highly impossible internet will go down....it is same as saying without electricity can i charge my phone, laptop or electronic devices...if internet goes down then obviously btc also will not work.

coinplus

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Quote from: Hellacopter on March 29, 2016, 10:52:20 AM

If internet goes down, not only Bitcoin will disappear but also many online jobs and it will affect for sure the most part of the used currencies worldwide; but i think if internet goes down that's mean there is really a very serious issue happened in world

Yes, there are a large number of business running online through internet which are more worthy than some amount of bitcoin, so there will a large destruction occur in economic field if internet gone down.

DeDordtenaar

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Quote from: adibe on March 31, 2016, 05:57:07 AM

Quote from: Zuminest on March 31, 2016, 04:57:26 AM

if internet goes down, sure there is no life for bitcoin and all the bitcoiners will be found upset.. but that won't happen very easily.. by chance if internet is lost, we can regain it and can give life to bitcoin again...

Nah, i'm sure internet never goes down. If internet goes down, it will make a chaos in the world. Even bitcoin is dead too, because bitcoin is life because the internet itself.

agree with internet impossible to be down of course we will be in the stone age. because all your money is in the bank. will not be withdrawn.
what if a hacker did this make internet going down ?

HilbillyFred

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Quote from: justspare on December 14, 2015, 04:11:04 AM

If the internet goes down, Bitcoin is rendered useless, you pretty much can't do anything. But I doubt that the internet will ever go down, as in like fully shutdown across the whole world.

Yeah if the internet goes down many companies not only Bitcoin would go down with it. The internet has become so important in today's world.
Almost nobody can live without it, at least I can't.

specturul

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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

this is one of the most limit of btc adoption ... Maybe one day some developer could find a fix for this problem...

haileysantos95

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Quote from: adibe on March 31, 2016, 05:57:07 AM

Quote from: Zuminest on March 31, 2016, 04:57:26 AM

if internet goes down, sure there is no life for bitcoin and all the bitcoiners will be found upset.. but that won't happen very easily.. by chance if internet is lost, we can regain it and can give life to bitcoin again...

Nah, i'm sure internet never goes down. If internet goes down, it will make a chaos in the world. Even bitcoin is dead too, because bitcoin is life because the internet itself.

It will be the end of bitcoin if internet goes down all over the world and we are again back at using fiat where governments manipulates it.

adibe

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Quote from: Zuminest on March 31, 2016, 04:57:26 AM

if internet goes down, sure there is no life for bitcoin and all the bitcoiners will be found upset.. but that won't happen very easily.. by chance if internet is lost, we can regain it and can give life to bitcoin again...

Nah, i'm sure internet never goes down. If internet goes down, it will make a chaos in the world. Even bitcoin is dead too, because bitcoin is life because the internet itself.

tewd22

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Quote from: Zuminest on March 31, 2016, 04:57:26 AM

if internet goes down, sure there is no life for bitcoin and all the bitcoiners will be found upset.. but that won't happen very easily.. by chance if internet is lost, we can regain it and can give life to bitcoin again...

just a one thing will not change everything. It will be hard for that to happen. Bitcoin is a global currency, and has value more than U.S dollars, lots of people prefer Bitcoin, because, Bitcoin is versatile, and being versatile is what makes the value of Bitcoin.

Zuminest

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if internet goes down, sure there is no life for bitcoin and all the bitcoiners will be found upset.. but that won't happen very easily.. by chance if internet is lost, we can regain it and can give life to bitcoin again...

jkrules

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Quote from: traderbit on March 31, 2016, 02:48:15 AM

If internet goes down i think that it will be created a large LAN network and only in this network transaction will be able to made within a limited number of people, for the rest bitcoin will be considered as cold wallet(stucked bitcoin) until internet goes up.

If there is no internet I have still have my fiat so no problem. Wink

rizkyhiw

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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

i hate imagine something like this,imagine when internet really going down and i can't open my instagram account,i can't open my online wallet and etc Sad

i think if internet goes down,bitcoin also will down,bitcoin lost their transaction,and everyone lost their minds.

traderbit

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If internet goes down i think that it will be created a large LAN network and only in this network transaction will be able to made within a limited number of people, for the rest bitcoin will be considered as cold wallet(stucked bitcoin) until internet goes up.

redsun114

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Quote from: Hellacopter on March 29, 2016, 10:52:20 AM

If internet goes down, not only Bitcoin will disappear but also many online jobs and it will affect for sure the most part of the used currencies worldwide; but i think if internet goes down that's mean there is really a very serious issue happened in world

You are true bitcoin is not the only asset on internet there are a lot of other payment processor on which people have a large amount of their money, they will also lose their wealth at there.

RealPhotoshoper

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Quote from: Ubertroco on March 30, 2016, 06:18:31 AM

I think its like what will happen with Internet Banking if internet goes down.... it ceases to exist

i dont think so,bitcoin is totally different with internet banking,so i think if internet goes down,i think bitcoin still exist,bitcoin may can transacted by peer to peer with local internet connection,and internet bank can't

Topic: what happens to Bitcoin if internet goes down? - page 35. (Read 34309 times)