what happens to Bitcoin if internet goes down? - page 9.

jazmuzika217

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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 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

Well thats the worst case scenario for all of the people in the crypto currency world. First and foremost, how could we use bitcoin as payment if the connection is down? If it happen that internet connection gets disrupted, thats a lot of shit were going on buddy. Imagine for example you invested 20K for bitcoin and then suddenly the internet connection disrupted. Thats the saddest part of it you have your investment but you cant earn it nor took it back again. Sad

kamotharnn

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Quote from: DexterRock on January 17, 2018, 09:19:26 AM

Quote from: 12tribes on January 17, 2018, 09:08:04 AM

Nothing happens to it. Its just like saying what happens to my favourite game show when power goes out. Nothing.
Your bitcoin will still be where you left it, just that you can't access it.

If things are so bad that the internet goes down, your bitcoins is the last thing you will be worried about...

If internet went down, your Bitcoin would still in your wallet but how you can take it out? Everything will be in uncontrol situation. "Bitcoiners" will turn into crazy for sure. The digital currency market will be paralyzed. However, the point is Internet won't down and it will never happen. Just relax and keep investing Grin

justyourkuya

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I don't think there is a possibility that yhe ever faster and well used tool to connect and communicate other people in the four corners of the world which is the internet will be fully shutdown. Remember that bitcoin is a digital currency used in business or payment transactions. It'll be useless if internet connection will ever be out of reach. We cannot pay bills online, transact online, save and invest online, etc.

bitctrimor1

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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 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

I think if the internet goes down, that would affect all cryptocurrency, specifically, bitcoin transactions negatively and in a great scale. I say that because so many facets of the cryptocurrency market are predicated with the use of the internet. Most transactions, trades, e-wallets, and the likes are all in need of the internet to work. You can consider the internet as the river that streams down the boats, which could be compared to the bitcoin transactions, if the river is not there then you can't use the boat, although there are other means to actually transact, it is less convenient if not troublesome.

Gandam23

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Quote from: foxbitcoin on December 14, 2015, 05:02:44 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

Bitcoin network completely breaks down. no hash power, no node. no confirmation, then we have to go cash, like dollar, euro.

We cant trade or even undergo in transaction using our mobile phones or comluter when there is not internet because internet is so important for you to connect with each other and for you to send or receive particular value to that transaction. So i can simply say that internet is really important.

teejaymuna

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Firstly, is there any possibility that the Internet can be closed down. How is that possible. I think this question invalidates yours.

alonrono

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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 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 you dont have internet you dont have Bitcoin.
All the transaction hashes and everything that connect to the bitcoin are shut down.

Xester

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Quote from: 12tribes on January 17, 2018, 09:08:04 AM

Nothing happens to it. Its just like saying what happens to my favourite game show when power goes out. Nothing.
Your bitcoin will still be where you left it, just that you can't access it.

Yes it is true and we are not talking here about the shutdown of internet. It just stayed there and nothing will be moved or there would be no changes. And if ever that internet connection will goes off, that I could not handle.

thenameisjay

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Bitcoins get stuck in cyberspace without any movement. Bitcoins won't move and circulatr all over the world because the only thing thay keeps bitcoin from moving is the internet and the blockchain. Without the internet, bitcoins are basically useless.

xebecstyx

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Quote from: justspare on December 14, 2015, 05:11:04 AM

If the internet goes down, Bitcoin is rendered useless, you pretty much can't do anything. But I doubt that the internet will ever go down, as in like fully shutdown across the whole world.

I agree. Although not all transactions and activities in the cryptocurrency market are done with the use of the internet; most of the essential ones like trading, investing, keeping holdings are mostly done in the internet. Therefore, if the the internet would go down, it would cripple all activities related to the cryptocurrency market, specifically in the bitcoin market. Although there can be ways to do it offline, the convenience and ease of transacting worlds apart, being it is one of the characteristics of bitcoin would be compromised.

DexterRock

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Quote from: 12tribes on January 17, 2018, 09:08:04 AM

Nothing happens to it. Its just like saying what happens to my favourite game show when power goes out. Nothing.
Your bitcoin will still be where you left it, just that you can't access it.

If things are so bad that the internet goes down, your bitcoins is the last thing you will be worried about...

12tribes

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Nothing happens to it. Its just like saying what happens to my favourite game show when power goes out. Nothing.
Your bitcoin will still be where you left it, just that you can't access it.

xamxam

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I think bitcoin will think other way to make bitcoin continue to use of every individual. But nowadays it would not happen because there are many ways how to develop the signals and other site of internet to make our generation easily use internet.

Dulanjaya

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Bitcoin based on internet completely that is not because of anything else because of bitcoin is an online trading.Let me explain you,If you are a bitcoin user then you have to do mining,bounty,trading,ICO or airdrop to make money ,Those can only be done through internet .so, Bitcoin will be useless if internet goes down.

codpku

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If internet goes down all sector will get an effect
For us who try to get money from bitcointalk we can do all the bounty and we can't get money anymore hehe

rasmadisulaiman

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If the internet goes down then bitcoin goes haywire in its network, all bitcoin transactions will stop until the internet recovers. If this happens it will result in losses experienced for all bitcoin owners, they can not transact or witdraw.

Jessica2009

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How is it possible that internet will go down? Since internet era nobody can imagine a day without internet in life;now internet have become a part and parcel of life to all of us .The only way of shutting down of internet is by cyber attacks so government may take some steps in order to prevent such cyber attacks The question is that what happens to Bitcoin if internet goes down then Bitcoin also will go down.

On The Rocks

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Forget about Bitcoin, what would happen to the world that we live in if the internet goes down? Initially the internet was just about a few basic things you did, but its there with you in absolutely everything. How will the stock market work? How will banks do business? How will regular businesses conduct themselves? What about credit card companies? In other words because internet is so integral in our lives everything will come to a standstill, not just Bitcoin.

futuristic18

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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 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

Bitcoin is a crypto currency, in other words it's a produc t online which we use through internet. SO if net goes down, we can not do anything with Bitcoin or any other crypto.

Aristus

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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 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

All the transaction would totally shut down, and the answer if bitcoin can rise again only the time can tell since there are also altcoins which is affected by that time. Now this altcoin will take this as an advantage to overtake bitcoin.

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