Topic: what happens to Bitcoin if internet goes down? - page 49. (Read 34309 times)

A nuclear war is happening, and all you care about is using bitcoin to buy stuff?
Get your priorities in order man, no point of bitcoin if you die.


/troll

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.

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.

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.   

Impossible. If for example something like this happens when Bitcoin is a very important currency, then people will find other valuable items to use as currency alongside the fiat that they use every day.

if internet goes down i still think it be worth something it would spread panic as people feel helpless as they can't access it.

Bitcoin would be the smallest problem in that event. Internet is not only pornhub, many financial companies and instruments depend on it, civilization as we know it will change. It's like asking how we will log in to Facebook? We won't.

I think there is no way you can trade Bitcoin if the internet goes down, unless if someone invented a new technology that has the same function with internet.

In the events of the internet crashing we would need to create a free web net. People would connect by wireless to one another...

If there is no internet I have still have my fiat so no problem.
I think no people will trade when internet goes down.

Space is a lie, there's an artificial dome over our heads that keeps the water out. Go find a real picture of a satellite if you don't believe me.

Or, you know... cash?

Just because the internet is down it would not stop the Dollar, Pound, Euro etc from being valid. Banks do have preparations in place for such a thing happening.

Yes, the price of the currencies will probably be diminished, but I can see them being used over cigarettes, alcohol etc.

I am sure that Internet can never go down, even if there is an exception to this, it can happen in only a small part of the world, not worldwide.

I doubt a worldwide internet failure will occur. Altough with IS i suspect a country eventually will decide to terminate all internet in case of an attack.
With that in mind we will not be able to trade bitcoin etc. However the chance of this happening is very very very small.

im buying silver at the moment lots of it, i think internet will be disrupted only those with the know how to get the own internet will trade btc to pay for things

will people be able to rewrite the block chain if something like that happen? ie since there's no verification during that period, there could be multiple versions

Without internet, no one will be able to make a single transaction so it will be impossible to trade or exchange your bitcoin to fiat.
But why would the internet go out in all the world !
There are wifis everywhere

You don't trade at all. Seeing as that bitcoin is a digital currency, it's not possible to make any transactions without internet.
So you can't trade, or withdrawal anything. Plus a lot business will fail because of no internet and we got bigger things to worry about when this actually happens. Money nor bitcoins will matter in this kind of situation. There's no need to make profits or any money if you need to survive.

If Internet will fail, it should be because of some big dissaster like you said - nuclear war for example.
I n such case we will have more important things to do .... if we survived.

If only Internet will discontinue to be a layer for communication then Bitcoin will stop as Blockchain will stop to work.

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.  

https://en.wikipedia.org/wiki/M-Pesa