Topic: what happens to Bitcoin if internet goes down? - page 44. (Read 34309 times)
Bitcoin will take a huge hit, but it will still retain some value. It will revert to its offline form, where people trade off-chain. It will be extremely hard though. This is one side of the blockchain.
i wish it will not be materialize
if there is a problem with internet and resulting in we will not use internet ,it is big problem really, not for only Bitcoin for everyting for every aconomic system are demage about this
God bless the Internet!
if there is a problem with internet and resulting in we will not use internet ,it is big problem really, not for only Bitcoin for everyting for every aconomic system are demage about this
God bless the Internet!
If the internet goes down, we will have some bigger problems...
But yes the good thing of bitcoin is the network can sustain even with a few nodes (however this is quite dangerous). In a way it is worrying, but in another way it is terrifying since some bogus party's could do a 51% attack.
But yes the good thing of bitcoin is the network can sustain even with a few nodes (however this is quite dangerous). In a way it is worrying, but in another way it is terrifying since some bogus party's could do a 51% attack.
It could happen but only a global or world war can make that happen but if there are no world war i don't think the internet could go down but in the worst scenario it could be the end for bitcoin the life of the bitcoins depends so much on the power of the internet they are inter connected
then it wouldnt be good for bitcoin in my opinion if internet would go down we wouldnt be able to use bitcoins what would mean the death of it, people would have to wait for another internet or wait for the same one to be fixed what would take a lot of time
what if you convert Bitcoin to physical coins and use it
and how do you do it if there is no internet?
only a feature that can let you spend bitcoin offline cna resolve this issue if it will ever happen in your life
Of the internet ever does go down, we will have to go back to good old fiat. Bitcoin and fiat will always be in the world.
I guess when the internet goes down, bitcoin also down because of the Internet and bitcoin such as tea and sugar 
i guess that bitcoin to be down, even bankruptcy.
because all of bitcoin transaction is require internet connection
because all of bitcoin transaction is require internet connection
then it wouldnt be good for bitcoin in my opinion if internet would go down we wouldnt be able to use bitcoins what would mean the death of it, people would have to wait for another internet or wait for the same one to be fixed what would take a lot of time
what if you convert Bitcoin to physical coins and use it
then it wouldnt be good for bitcoin in my opinion if internet would go down we wouldnt be able to use bitcoins what would mean the death of it, people would have to wait for another internet or wait for the same one to be fixed what would take a lot of time
Pretty silly question.
Since Bitcoin relies on the internet for transactions, Bitcoin would effectively die.
Absolutely wrong.Since Bitcoin relies on the internet for transactions, Bitcoin would effectively die.
There are many offline wallets which donot require internet connections .
Armory wallet can be used for offline transactions but you need some more efforts and hardwork to do so.
To send Bitcoins from your armory offline wallet, do the following:
1. On the online computer, click the
Offline Transactions button on the right, below the logo. Select
Create New Offline Transaction . Alternatively, you can just select
Send Bitcoins and select the watching-only/offline wallet.
2. Create the transaction as you normally would but the “Send” button will be grayed out since the watching-only wallet cannot sign transactions..
3. Click the button Create Unsigned Transaction on the left side.
4. A window will open with the unsigned version of the transaction. Press the Save to file… button to save a
*.unsigned.tx to the USB key
5. Insert USB key in offline computer, and click Offline Transactions , then select Sign or Broadcast Tranasaction.
6. Load the file from the USB key, then press the Sign button. A confirmation window will appear.
7. Verify the confirmation details before you sign it! The benefits of an offline wallet are lost if you don’t make sure the details are correct!
8. Click Save to file… . It will overwrite the original *.unsigned.tx file with a *.signed.tx file.
9. Eject the USB key and plug it into the online computer. If the original window is still open, you can click on Next Step to get to the broadcast window. If you closed Armory since then, you can use the same Offline Transactions button on the main window, and select Sign or Broadcast Transaction . Once the file is loaded, some green text should appear telling you that the signature is valid and the Ready to Broadcast! button should become available.
10. Press the button and you’re done!
Ok that can be done, but do we agree that if there's no Internet the last thing we are going to think about is Bitcoin?
I think we all have to dirty our hands and do some real work to be able to have food.
If the internet goes down Bitcoin would be really my last concern!
doesn't step 9 require computer to be online?
Pretty silly question.
Since Bitcoin relies on the internet for transactions, Bitcoin would effectively die.
Absolutely wrong.Since Bitcoin relies on the internet for transactions, Bitcoin would effectively die.
There are many offline wallets which donot require internet connections .
Armory wallet can be used for offline transactions but you need some more efforts and hardwork to do so.
To send Bitcoins from your armory offline wallet, do the following:
1. On the online computer, click the
Offline Transactions button on the right, below the logo. Select
Create New Offline Transaction . Alternatively, you can just select
Send Bitcoins and select the watching-only/offline wallet.
2. Create the transaction as you normally would but the “Send” button will be grayed out since the watching-only wallet cannot sign transactions..
3. Click the button Create Unsigned Transaction on the left side.
4. A window will open with the unsigned version of the transaction. Press the Save to file… button to save a
*.unsigned.tx to the USB key
5. Insert USB key in offline computer, and click Offline Transactions , then select Sign or Broadcast Tranasaction.
6. Load the file from the USB key, then press the Sign button. A confirmation window will appear.
7. Verify the confirmation details before you sign it! The benefits of an offline wallet are lost if you don’t make sure the details are correct!
8. Click Save to file… . It will overwrite the original *.unsigned.tx file with a *.signed.tx file.
9. Eject the USB key and plug it into the online computer. If the original window is still open, you can click on Next Step to get to the broadcast window. If you closed Armory since then, you can use the same Offline Transactions button on the main window, and select Sign or Broadcast Transaction . Once the file is loaded, some green text should appear telling you that the signature is valid and the Ready to Broadcast! button should become available.
10. Press the button and you’re done!
Well, I think a majority of people wouldn't know what to do (especially what you just described) if all of this were to go down. The fact is, is that there will be no more miners to confirm transactions to another party you are trying to send bitcoins to, and there for the security of transacting bitcoins to get a good or service when the internet is down is down as well.
The only possible way to transact bitcoins in a secure way if everything were to shut down, in my mind, is to have a cold wallet storage that you can see how much bitcoins is on there, in which you can transact physically... not by some broadcast function of what you said. Though, if this were the case... I don't think people would even want to transact with bitcoins, because Bitcoins economy would essentially be shut down... it's inevitable that Bitcoin is tied to the internet.
I just can't understand why people are worried about such things. If the internet goes down you better have a bunker with a bunch of food, water and weapons and a good bed, that's all you will need because no internet = civilization has collapsed and no one cares about exchanging currencies.
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.
This apocalyptic scenario indeed makes no sense discussing about.
Sometimes I wonder: well, if for some reason we stop having access to electricity, then internet would cease to exist and I would loose all my crypto money. But then I remember: fuck, if this happens, I'd better be worrying about buying a gun and defending my life!
If this will be going to happen then bitcoin will be useless.
Pretty silly question.
Since Bitcoin relies on the internet for transactions, Bitcoin would effectively die.
Absolutely wrong.Since Bitcoin relies on the internet for transactions, Bitcoin would effectively die.
There are many offline wallets which donot require internet connections .
Armory wallet can be used for offline transactions but you need some more efforts and hardwork to do so.
To send Bitcoins from your armory offline wallet, do the following:
1. On the online computer, click the
Offline Transactions button on the right, below the logo. Select
Create New Offline Transaction . Alternatively, you can just select
Send Bitcoins and select the watching-only/offline wallet.
2. Create the transaction as you normally would but the “Send” button will be grayed out since the watching-only wallet cannot sign transactions..
3. Click the button Create Unsigned Transaction on the left side.
4. A window will open with the unsigned version of the transaction. Press the Save to file… button to save a
*.unsigned.tx to the USB key
5. Insert USB key in offline computer, and click Offline Transactions , then select Sign or Broadcast Tranasaction.
6. Load the file from the USB key, then press the Sign button. A confirmation window will appear.
7. Verify the confirmation details before you sign it! The benefits of an offline wallet are lost if you don’t make sure the details are correct!
8. Click Save to file… . It will overwrite the original *.unsigned.tx file with a *.signed.tx file.
9. Eject the USB key and plug it into the online computer. If the original window is still open, you can click on Next Step to get to the broadcast window. If you closed Armory since then, you can use the same Offline Transactions button on the main window, and select Sign or Broadcast Transaction . Once the file is loaded, some green text should appear telling you that the signature is valid and the Ready to Broadcast! button should become available.
10. Press the button and you’re done!
Ok that can be done, but do we agree that if there's no Internet the last thing we are going to think about is Bitcoin?
I think we all have to dirty our hands and do some real work to be able to have food.
If the internet goes down Bitcoin would be really my last concern!
Pretty silly question.
Since Bitcoin relies on the internet for transactions, Bitcoin would effectively die.
Absolutely wrong.Since Bitcoin relies on the internet for transactions, Bitcoin would effectively die.
There are many offline wallets which donot require internet connections .
Armory wallet can be used for offline transactions but you need some more efforts and hardwork to do so.
To send Bitcoins from your armory offline wallet, do the following:
1. On the online computer, click the
Offline Transactions button on the right, below the logo. Select
Create New Offline Transaction . Alternatively, you can just select
Send Bitcoins and select the watching-only/offline wallet.
2. Create the transaction as you normally would but the “Send” button will be grayed out since the watching-only wallet cannot sign transactions..
3. Click the button Create Unsigned Transaction on the left side.
4. A window will open with the unsigned version of the transaction. Press the Save to file… button to save a
*.unsigned.tx to the USB key
5. Insert USB key in offline computer, and click Offline Transactions , then select Sign or Broadcast Tranasaction.
6. Load the file from the USB key, then press the Sign button. A confirmation window will appear.
7. Verify the confirmation details before you sign it! The benefits of an offline wallet are lost if you don’t make sure the details are correct!
8. Click Save to file… . It will overwrite the original *.unsigned.tx file with a *.signed.tx file.
9. Eject the USB key and plug it into the online computer. If the original window is still open, you can click on Next Step to get to the broadcast window. If you closed Armory since then, you can use the same Offline Transactions button on the main window, and select Sign or Broadcast Transaction . Once the file is loaded, some green text should appear telling you that the signature is valid and the Ready to Broadcast! button should become available.
10. Press the button and you’re done!
Same as what will happen to your active file on torrent, you can't either download or seed the file
Pretty silly question.
Since Bitcoin relies on the internet for transactions, Bitcoin would effectively die.
Since Bitcoin relies on the internet for transactions, Bitcoin would effectively die.
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 web went down there would be no blockchain and bitcoin as a currency just woudnlt be able to function but the odds of that happening are really really low. 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
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