what happens to Bitcoin if internet goes down? - page 50.

CryptoBjorn

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Quote from: amacar2 on December 14, 2015, 07:49:14 AM

Bitcoin will be very small topic to care about if whole world lost it's internet. It will lead us back to 10th century.

Yeah that is true. Everything will be down banks and other things that use internet.
Actually I would like to see internet go down and live like the years past Tongue

. But this won't happen that internet just go down.

amacar2

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Bitcoin will be very small topic to care about if whole world lost it's internet. It will lead us back to 10th century.

newcoins1978

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It will be impossible to trade bitcoins or exchange. You won't be able to do anything with your bitcoins if there's not internet available.
I'm afraid to say this but without internet bitcoin is useless, since it's a digital currency.

LuckyYOU

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Trading and exchanges would just come to a stop. Since all of that happens over the internet.
It would all just stop without internet availability.

cryptolives

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ofcours bigger things to worry but when i refer to trading bitcoins i mean trading as paying for stuff not trading on exchanges to make profit

bitlancr

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I wouldn't worry too much about bitcoin if a nuclear war was to happen. There are more important things to worry about. The price would probably go down as well as fiat.
I also think that a lot of businesses would collapse, a lot of companies and money making is done over the internet. Everything would fall apart, not just bitcoin.

notbatman

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TastyChillySauce00

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bitcoin will break down,no transaction will happen,because IMO internet is core of bitcoin, but soon the 5G will be released and erricson will realizing his project "internet of things",nothing to be worried

gatecoin

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Quote from: bitsmichel on December 14, 2015, 06:14:18 AM

Quote from: gatecoin on December 14, 2015, 06:12:32 AM

If the Internet goes down, the Amish community will be the only ones going about life as usual Wink

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 Cheesy

Without the Internet, bitcoin buyers and sellers cannot connect to trade with one another and this will dramatically affect bitcoin's price negatively. Even if some people have access to the Internet, the fact that bitcoin usage reverted back to its early days, when not more than a handful of people have access to it, bitcoin will crash in value to that of the early days. But there's some good news: those with Internet connection will be filthy rich from operating an internet cafe just so people can check their facebook and instagram updates. HA!

Elwar

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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.

ABCbits

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Maybe you can trade bitcoin by giving private key / broadcast file (you can broadcast it with any wallet) Roll Eyes

Or run small bitcoin network in LAN/WLAN

Quote from: bitsmichel on December 14, 2015, 05:55:44 AM

Quote from: Denker on December 14, 2015, 05:49:12 AM

Quote from: cryptolives on December 14, 2015, 04:54:45 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 how do we trade bitcoin during this time if we can't access internet.

home internet and mobile internet goes down

I can tell you if a nuclear war breaks out there are way more important issues to solve than Bitcoin!
Secondly if Internet goes down, several other markets and industries will go down as well!
The Internet is so widely used today, worldwide, that a total collapse would set us back for decades!

Yes, in fact fiat would go down along with the Internet.

Fiat still can running without internet, but it'll use old system (before internet exsit) which is inefficient (write & keep transaction in book)

foxkyu

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Quote from: 1Referee on December 14, 2015, 05:06:40 AM

If something like that happens, then you will need to use your fiat currency or gold or any other precious metals. I don't even think about this scenario. It's too far away, if ever.

Absolutely agree. This scenario, i think it wouldn't happen. Nowadays all people can't live without internet. Even for Bitcoin, can't survive if internet goes down either. I can't imagine it.

ShrykeZ

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Well we will not longer be able to trade in Bitcoin although if the internet completely went down then we are in for a storm of problems.

Kepler510

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I thought, if this is a concern no doubt we cannot make trades because of all the trade done until this very second always wear online system and if the network the internet down for sure this job will not be done.

But if the views, I think all of that will never happen though there was a great war. Because of the war also requires communication
Roll Eyes

bitsmichel

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Quote from: gatecoin on December 14, 2015, 06:12:32 AM

If the Internet goes down, the Amish community will be the only ones going about life as usual Wink

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 Cheesy

gatecoin

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If the Internet goes down, the Amish community will be the only ones going about life as usual Wink

perhaps trading bitcoins using paper wallets?

Elwar

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With no internet...what happens to porn?

I believe that is the more crucial question.

bitsmichel

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Quote from: Denker on December 14, 2015, 05:49:12 AM

Quote from: cryptolives on December 14, 2015, 04:54:45 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 how do we trade bitcoin during this time if we can't access internet.

home internet and mobile internet goes down

I can tell you if a nuclear war breaks out there are way more important issues to solve than Bitcoin!
Secondly if Internet goes down, several other markets and industries will go down as well!
The Internet is so widely used today, worldwide, that a total collapse would set us back for decades!

Yes, in fact fiat would go down along with the Internet.

Hashminers

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I didn't think about that, but I think that bitcoin will be down if there isn o internet.
I am not sure, maybe they are other way to do bitcoin traiding with out internet.
Nuclear War that can happen, but I think it won't happen is to risky for country to make that move.

Denker

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Quote from: cryptolives on December 14, 2015, 04:54:45 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 how do we trade bitcoin during this time if we can't access internet.

home internet and mobile internet goes down

I can tell you if a nuclear war breaks out there are way more important issues to solve than Bitcoin!
Secondly if Internet goes down, several other markets and industries will go down as well!
The Internet is so widely used today, worldwide, that a total collapse would set us back for decades!

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