what happens to Bitcoin if internet goes down? - page 36.

bamboylee

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Quote from: Digital_Lord on March 28, 2016, 08:49:50 AM

Quote from: 23dzmaz on March 27, 2016, 11:35:26 PM

Quote from: uname on March 27, 2016, 10:51:04 PM

Quote from: BitcoinHodler on March 25, 2016, 10:06:48 AM

if Internet goes down we are back to the stone age, so we will not be needing bitcoin and only need animal skin to trade for fire.

I think if the internet down. all banking activities and others will stack and stops. people will not be able to withdraw money from bank merkea. we're in the stone age

Yeah, if the internet down we will back into old era that no email, no media social, no online currencies. Bitcoin will dead and human job will be more harder.

The internet cant be down forever. It can be down for some time and also for some places. The infrastructure of internet is so strong that it will never End. the only exception is that the world will end and it will End the internet and of course Bitcoins.

But if it is caused by nuclear warfare then most of the infrastructures that support the internet or even humans will be mostly destroyed. And if human wants to build up again, I think internet will be the least of priority. I think survival will be on top of the list. It may take hundred of years before it could be build up again.

J1mb0

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

what happens to Bitcoin if internet goes down?

No doubt the two Chinese guys that do most of the the mining have a private leased line or two. So nothing, apart from a temporary cessation of general transactions until the internet comes back. Failing that the bigger chinese guy gets to 'own' the blocks produced during the glitch.

kingaltcoins

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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

During nuclear war not only the internet might go down but there will also be a huge surge in fiat economy.

In that case Bitcoin network will turn off automatically since there will be no nodes to secure it. We might have to start the chain all over again.

Hirose UK

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Quote from: unamis76 on December 14, 2015, 04:04:28 AM

face to face trades? Of course there must be a way to broadcast the transaction anyways. And as said on previous topics, if there is no internet service, we probably have bigger things to worry about.

I'm not sure it will work. what if the city a trader lives in is far from the buyer? it will charge more in transportation. so people will think twice or even more.

if internet goes down, I think the only answer is bitcoin is about die, and gonna die.

Ubertroco

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

benmartin613

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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

If internet would be down i think it makes a huge loss in money from all different kind of business sector.
Bitcoin will be down to because most user of bitcoin rely on internet,if there is no internet majority of bitcoin users will be back to fiat.

HarryKPeters

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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

Of course, no one got access to it anymore, these days everything is going threw the internet even the bank account are going via a only network.
The bitcoin itself will disappear at the end if the internet stays offline for a long time of course.

cjmoles

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Quote from: deepceleron on March 30, 2016, 04:40:55 AM

Bitcoin without the internet, while still somewhat functional even via sneakernet, becomes dangerous to use.

If mining nodes are isolated, they each can start developing an independent blockchain. In this scenario, the fastest miner wins and has 100% control of the blockchain with less than 50% of the hashrate. When the network is reunited, and the fastest miner communicates their longest chain, it immediately wipes any blocks that anyone else had created.

Hmmm.....Good point! I read thru this entire thread developing a theoretical solution for such an occurrence and the very last post has me rethinking it through again....Now, I can see events where multiple networks would be isolated from one another creating there own chains in parallel. While all of the transactions would be legit in each chain individually, the ledger as a whole would be forked in a unique way. Due to the isolation of nodes from one another, there would be no common hashes between any two forks so maybe it would be possible to parse the blockchain once the network was restored....that's assuming there were no cross communications or purposeful attacks however.

My other thought was centered around a DAC and broadcasting electromagnetically thru HAM radio or similar analogue network and backing up the ledger on tape until the digital network was restored....

Very interesting thoughts....there are ways....but, like mentioned earlier in the thread, there would probably be bigger things to worry about than bitcoin in such a scenario.

deepceleron

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Bitcoin without the internet, while still somewhat functional even via sneakernet, becomes dangerous to use.

If mining nodes are isolated, they each can start developing an independent blockchain. In this scenario, the fastest miner wins and has 100% control of the blockchain with less than 50% of the hashrate. When the network is reunited, and the fastest miner communicates their longest chain, it immediately wipes any blocks that anyone else had created.

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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

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

Hellacopter

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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

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I doubt bitcoin could maintain it's usability if the internet is to go down in someway, Bitcoin is currently so internet based that it's hard to see it being used in any other way, Bitcoin in general is an electronical online currency, I don't see it being any other way.

lister storm

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then bitcoin would just not exist and that is it, if internet goes down nearly all the systems and technologies would go down

though it is nearly impossible to happen i think and we should not worry too much about it because theres no threat to internet

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Quote from: LayTheHorseTipster on March 27, 2016, 11:47:29 PM

If there is no internet anymore you shouldn't be worry about bitcoin, because that means the world has something much more serious issue.

Yes and that serious issue can be a world war. So if you don't live anymore than who cares if bitcoins exists in the world or not. Really it means the world has something much more serious issue that needs to be figure out . Roll Eyes

Iceborn

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Not only Bitcoin would go down but so many other things in the world would go down as well. A world without internet at this stage in time would lead to chaos.
So many things are dependent on the internet these days.

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Quote from: blackmachinegun on March 29, 2016, 07:10:35 AM

Quote from: romero121 on March 28, 2016, 04:24:03 AM

If internet goes down due to some war between countries or nuclear explosion, bitcoin usage will get reduced to a large. This will affect the entire system to a great fall in price.

I think if a war happens of course there are countries that did not join the war or non-block. so the country is still in internet connection.
war only gives problems in some countries. but it certainly give effect on bitcoin

Only few countries involve in war. At present every country has a limited number of bitcoin users and only few countries hold the major number of users. If those countries take part in war a great impact will be experienced over bitcoin price and usage.

blackmachinegun

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Quote from: romero121 on March 28, 2016, 04:24:03 AM

If internet goes down due to some war between countries or nuclear explosion, bitcoin usage will get reduced to a large. This will affect the entire system to a great fall in price.

I think if a war happens of course there are countries that did not join the war or non-block. so the country is still in internet connection.
war only gives problems in some countries. but it certainly give effect on bitcoin

diodio5

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Quote from: LegendaryMembership on March 28, 2016, 06:24:59 AM

IMO if internet goes down maybe the world already in serious trouble and people don't have time to think about bitcoin ,

I think that what problem could cause the Internet could disappear? because it is very difficult to happen
certainly face problems in the world are terrible. possible war or the like. so that the provider can not provide as many signal connections disconnected. it will reflect badly on bitcoin

knowhow

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That is something we cant wait and expect to happen,that will put bitcoin very vulnerable to any attack that the first people to relog would be able to damage the bitcoin,soo it would be like the end to it,and crypto.

airezx20

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If internet will goes down maybe bitcoin price will crash too. and many traders will stop trading in many trading sites..

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