Topic: what happens to Bitcoin if internet goes down? - page 48. (Read 34309 times)
Casascius coins may have more value if the blockchain goes down, especially with their tamper proof hologram.
If the internet goes down, we're all out of luck. Game over. The fortunate thing that is when the internet comes back, once the blockchain is accessible liquidity comes back for all of us.
Bitcoin isn't a doomsday currency, it's a currency of the future.
Btw, if the internet goes down...if the world gets that bad, the currency we have in any wallet will not be the worst of our problems.
Bitcoin isn't a doomsday currency, it's a currency of the future.
Btw, if the internet goes down...if the world gets that bad, the currency we have in any wallet will not be the worst of our problems.
Seems to me bitcoin would go down. Fiat would also go down, as about 97% of the £ (other currencies are similar) is electronic in that it's just recorded on private ledgers held by banks. In both cases wouldn't the ledgers still exist? Not sure if bitcoin could recover. I guess the banks ought to be able to.
Well this is a good thread some one need to develop a technology when the internet goes down that you can still trade bitcoins.
Oh well I am just hoping that doesn't happen I can live without internet.
Oh well I am just hoping that doesn't happen I can live without internet.
Internet is a vast network with multiple redundancy points, and while it may get unavailable at some locations at crisis points as op describes, it's
definitely safe to say that rest of the world won't be affected in any major way. imho this thread is either trolling or created by someone who
lacks basic knowledge in technology in general.
cheers
my question is not related to not being able to use bitcoin to buy useless stuff but when cash is devalued and you rather not hold massive amounts of precious metals what good will bitcoin be if you can't access it.
like u said not the whole world will be affected but the parts of the world which probably wont be affected are the ones that do not even have internet anyway
you simply keep holding, like you're doing right now, and use something else, also in the future there may be a way to trasfmit bitcoin off-chain or via al alternative "internet" a mesh network done for this purpose can be great
or a lan/wan network, there can be plenty of ways to avoid this situation
Well this is a good thread some one need to develop a technology when the internet goes down that you can still trade bitcoins.
Oh well I am just hoping that doesn't happen I can live without internet.
Wow. Ok, quick true story: internet was disrupted in part of my county recently as they were upgrading the new fiber ring, and a backhoe cut an existing main trunk. Oh well I am just hoping that doesn't happen I can live without internet.
All the electricity in the area worked fine. Lights were on. Cars were driving around. I was walking into my bank when it happened. I couldn't deposit my check because their systems were down. My wife wanted me to pick up some grocery stuff while I was out. The entire Walmart was a chaos because payment and checkout systems were down. Lines of buggies but you couldn't pay. Went to Kroger. Same thing, but they had had time to close and put up a sign saying temporarily out - check back in a few hours. Went to get gas. 1st station pump didn't work. 2nd station did work, but there was a sign saying cash only.
My point being that you may indeed "live" if the internet goes down, but almost ALL the systems that run all the banks, businesses ad stores around you will not.
If the full Internet is down people will be using alcohol and cigarettes for trade.
Next year there will be satellites broadcasting the blockchain so that would likely still be going.
http://www.coindesk.com/jeff-garzik-announces-partnership-launch-bitcoin-satellites-space/
Unless somehow space gets blown up too.
Next year there will be satellites broadcasting the blockchain so that would likely still be going.
http://www.coindesk.com/jeff-garzik-announces-partnership-launch-bitcoin-satellites-space/
Unless somehow space gets blown up too.
thanks
people misunderstanding my question which i dont blame them as i'm using the word trade but re phrased it
Well this is a good thread some one need to develop a technology when the internet goes down that you can still trade bitcoins.
Oh well I am just hoping that doesn't happen I can live without internet.
Oh well I am just hoping that doesn't happen I can live without internet.
Internet is a vast network with multiple redundancy points, and while it may get unavailable at some locations at crisis points as op describes, it's
definitely safe to say that rest of the world won't be affected in any major way. imho this thread is either trolling or created by someone who
lacks basic knowledge in technology in general.
cheers
Even if internet is available in certain locations of the world, you wouldn't be thinking about bitcoin if there was a nuclear war going on. You would just stop all the trading and whatever transactions you could make with internet. Once something happens that depends on life or death, money and bitcoin doesn't mean anything anymore. If it does still matter to some people out there, then you guys need a serious check on yourself.
Well this is a good thread some one need to develop a technology when the internet goes down that you can still trade bitcoins.
Oh well I am just hoping that doesn't happen I can live without internet.
Oh well I am just hoping that doesn't happen I can live without internet.
Internet is a vast network with multiple redundancy points, and while it may get unavailable at some locations at crisis points as op describes, it's
definitely safe to say that rest of the world won't be affected in any major way. imho this thread is either trolling or created by someone who
lacks basic knowledge in technology in general.
cheers
my question is not related to not being able to use bitcoin to buy useless stuff but when cash is devalued and you rather not hold massive amounts of precious metals what good will bitcoin be if you can't access it.
like u said not the whole world will be affected but the parts of the world which probably wont be affected are the ones that do not even have internet anyway
Actually, the transaction time would still be 10 minutes. Difficulty will be adjusted down. It's always 10 minutes by definition.
Not if it went down suddenly. The difficulty would essentially never adjust as we'd never finish enough blocks to reach the next adjustment. Well this is a good thread some one need to develop a technology when the internet goes down that you can still trade bitcoins.
Oh well I am just hoping that doesn't happen I can live without internet.
Oh well I am just hoping that doesn't happen I can live without internet.
Internet is a vast network with multiple redundancy points, and while it may get unavailable at some locations at crisis points as op describes, it's
definitely safe to say that rest of the world won't be affected in any major way. imho this thread is either trolling or created by someone who
lacks basic knowledge in technology in general.
cheers
lol u say as if i want to go use bitcoin to by a ps4 or tv or something come on dude lol
why do you think i said nuclear war stuff that are useful during that , as money is to be devalued alot its precious metals or things of value you can buy things with.
no guarantee a nuclear bomb gonna hit me so if i do survive i'd like to buy shit still when cash is worthless or massively devalued
...... like a ps4 or tv or something.why do you think i said nuclear war stuff that are useful during that , as money is to be devalued alot its precious metals or things of value you can buy things with.
no guarantee a nuclear bomb gonna hit me so if i do survive i'd like to buy shit still when cash is worthless or massively devalued
* you are of course correct. In the event of nuclear war / internet, you would simply use the Bitcoin ATMs that have power backups. Can't believe I missed that. So sorry.
shit meaning survival stuff as if internet is down you can't do anything with btc and using atms still spits out cash which would devalued/useless its not great.
Bitcoin network completely breaks down. no hash power, no node. no confirmation, then we have to go cash, like dollar, euro.
In a post-nuclear-war world, the dollars and euros will be worth almost as much as the paper they're made of.
Well this is a good thread some one need to develop a technology when the internet goes down that you can still trade bitcoins.
Oh well I am just hoping that doesn't happen I can live without internet.
Oh well I am just hoping that doesn't happen I can live without internet.
If the Internet goes down, the Amish community will be the only ones going about life as usual 
perhaps trading bitcoins using paper wallets?
perhaps trading bitcoins using paper wallets?This would be possible if the miners continue running and part of the population still has an Internet connection. Without internet you need another network. Without a network you can do mining on paper and keep a printed copy of the blockchain, but transaction time would be very slow
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 how do we trade bitcoin during this time if we can't access internet.
home internet and mobile internet goes down
Bitcoin network completely breaks down. no hash power, no node. no confirmation, then we have to go cash, like dollar, euro.home internet and mobile internet goes down
Well the thing is that cash is going to disappear in the next 10 or 20 years so I wouldn't count of cash as a means of exchanging value in the future because society is going more and more digital and physical payments will be irrelevant, the people being born today will not know cash in the future.
lol u say as if i want to go use bitcoin to by a ps4 or tv or something come on dude lol
why do you think i said nuclear war stuff that are useful during that , as money is to be devalued alot its precious metals or things of value you can buy things with.
no guarantee a nuclear bomb gonna hit me so if i do survive i'd like to buy shit still when cash is worthless or massively devalued
...... like a ps4 or tv or something.why do you think i said nuclear war stuff that are useful during that , as money is to be devalued alot its precious metals or things of value you can buy things with.
no guarantee a nuclear bomb gonna hit me so if i do survive i'd like to buy shit still when cash is worthless or massively devalued
* you are of course correct. In the event of nuclear war / internet, you would simply use the Bitcoin ATMs that have power backups. Can't believe I missed that. So sorry.
i do not think internet will be broken down even it is the greatest thing i have experianced till now and this thing needed by the whole world no matter what is the situation are but internet has always helped .lets take it in another sense internet or www(world wide web/network) is made wan so. it it shutdowns then also we will have the man and lan conections.atleast we can keep connected to our country and after that we can hardly conbect to our nebour country we are humans we invent things
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 how do we trade bitcoin during this time if we can't access internet.
home internet and mobile internet goes down
You don't. Seriously this is the stupidest question I have ever heard. In the event of a nuclear war - your primary concern is bitcoin trading. It's actually a pretty good argument to have a nuclear war - sort of weed out the genetic evolutionary reversal that seems to be occurring in a vast proportion of the human species.home internet and mobile internet goes down
What is more likely in the near term is large, rolling regional, national blackouts/power outages etc due to hackers. If you are in a situation like that, you will want to have some sort of physical monetary or bartering system. But in those situations, the power will eventually come back on, and while there might have been chaotic disruption/looting/ etc.... the Internet will again power up, and your bitcoins will still be out there.
But if you are in Pakistan/India or N Korea/S Korea or Israel/Iran - the sites of the most probable, initial "limited" nuclear tradeoff zones - then yes, your bitcoin trading will most likely be disrupted for a bit. But it will be helpful after you have migrated cross border into a new land, one where the power still works, bitcoin was never impacted etc. And you'll have your bitcoin capitol to rebuild your life.
Of course, once the final war with the AI / ZombieBorgs starts, THEN you'll want the gold/silver and bitcoin/internet will be under enemy control, and then ultimately gone.
dude i do not mean bitcoin trading to make profit i mean to trade bitcoin to pay for things. how can we use bitcoin to pay for things if internet is down.
But if you insist on chasing this theory - then you would first have to create a physical coin network, and it would probably have to scale at amazing coin value amounts and be integrated into the population at a ridiculous volume. And since that sort of defeats the entire bitcoin / digital money thing - ain't happening.
i'd rather be holding large amount of btc than precious metals or cash just saying
its a thought i had what would happen with bitcoin if no internet it doesn't necessarily need to be nuclear war or something
its a thought i had what would happen with bitcoin if no internet it doesn't necessarily need to be nuclear war or something
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 how do we trade bitcoin during this time if we can't access internet.
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 buy things with it
A nuclear war is happening, and all you care about is using bitcoin to buy stuff?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 buy things with it
Get your priorities in order man, no point of bitcoin if you die.
/troll
lol u say as if i want to go use bitcoin to by a ps4 or tv or something come on dude lol
why do you think i said nuclear war stuff that are useful during that , as money is to be devalued alot its precious metals or things of value you can buy things with.
no guarantee a nuclear bomb gonna hit me so if i do survive i'd like to buy shit still when cash is worthless or massively devalued
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