Topic: what happens to bitcoin if the electricity and internet goes out.? (Read 655 times)
November 05, 2022, 12:50:42 AM
If there is no electricity in the world then how our life will be can be easily guessed. Assuming there is no electricity in the world, then you can easily think that vehicles, factories and various institutions that depend on electricity will be shut down. If all these factories are closed then our life will be disrupted. Let's come to the main point in particular, our primitive civilization where there was no electricity i.e. before the invention of electricity people lived like nomads, they had no fixed address, they had to depend on hunting for food, they had no clothing, they were completely victims of the natural environment. , their life span was very short, so without electricity our life system would be like Adam civilization. Just like the primitive man did not have a coin like Bitcoin, our Bitcoin will not exist. This is because the use of electricity is undeniable if you want to run Bitcoin, if you want to make a transaction, you will need a computer and a mobile phone. If there is no electricity, the computer mobile will not work. So to think of Bitcoin apart from our electricity is absolutely foolish.
November 04, 2022, 11:37:45 PM
Even though you may have heard that Bitcoin transactions may be created offline, they actually still require the internet for the last step in order to be executed and recorded on the blockchain. If the internet and electricity go out, no one will be able to trade Bitcoin any longer, and I predict that the price will fall since it would be rendered useless. But since so many renewable energies may be employed to generate electricity and an internet connection, it is essentially impossible for electricity and the internet to go out in this planet.
November 04, 2022, 09:46:06 AM
If the electricity and internet goes out per say, although highly unlikely, bitcoin mining and other of its processing parts that make it function might have to also shutdown till it is restored. I dont have doubt that it might impact the exchange rates of the moment, because the world will have to be at a standstill. The stock market would crash and almost all businesses may have to shutdown.
The topic gets so interesting because the thoughts of what might happen far out weighs what might not happen and this is scary.
The topic gets so interesting because the thoughts of what might happen far out weighs what might not happen and this is scary.
November 03, 2022, 07:12:14 AM
Bitcoin need internet in order to execute the transaction being recorded on the blockchain, even though you have heard Bitcoin transaction can be created offline, but literally still need an internet for the final step. If electricity and internet goes out, no one able to trade Bitcoin anymore and my guess the price will crash since it's turn become useless. But it's really impossible for electricity and internet will goes out in this world, there's many renewable energy can be used to create electricity and internet connection.
It wouldn't crash because there is no selling or buying pressure, so it will immediately stop at that price. But agree, electricity and the internet are impossible unless there is world war 3 when all infrastructure is damaged, and only the military can access the internet. The problem is that if the internet is back, what will happen to the price, is the whales will kick in ? since only a few are selling or buying pressure. I don't want to overthink, but this topic seems interesting to me now; I will have more research about this.
November 02, 2022, 01:21:58 AM
what happens to bitcoin if the electricity and internet in this world goes out?
Bitcoin is a decentralized cryptocurrency that works on various blockchain nodes. As long as there is one blockchain node accessible through the network, Bitcoin will survive, in other words blockchain based currencies require large amounts of electricity.If the electricity and internet in this world goes out then no one has access to the internet. Even if there is no longer access to the internet Bitcoin will still exist like all other data. In theory how would you buy or sell Bitcoin offline.? Bitcoin is basically a digital currency, its basic value is determined by online supply and demand because most digital goods and services depend on a connection to the internet.
whether bitcoin buying and selling transactions are still running or not?
The above question (Op) is just like you fly to another planet with $10 million, of course you can't spend it because it's not the default currency there. November 01, 2022, 05:26:15 PM
If the world remains without electricity (and I don't even want to assume what should happen for this to happen), then the absence of the Internet and the naturally disappeared Bitcoin will worry humanity very little. It will literally be the fall of civilization, a return to the Middle Ages. And scattered groups of adventurers in Mad Max style will build their well-being on completely other things.
October 29, 2022, 01:44:14 AM
It's funny how people worry about how they are going to transact bitcoin in case of a worldwide electricity and internet outage. Worry about having enough ammunition for your shotgun before the looting starts. The world will come to a halt, and your main concerns will be finding enough food and clean drinking water so you and your family don't starve. If such conditions were to last, many wouldn't make it simply because we aren't used to it.
The survival conditions would become extremely difficult because the business would shut down and the economy would disturb and there will be revolts and loots as you say and bitcoin won't help in that manner because you would not to be able to make btc payments at all and the best will be how to survive that tough situations.But with internet and electricity going off this is not happening as we all know it would cost billion of dollars loss in seconds and government won't let it happen. 
October 28, 2022, 06:11:48 PM
I'm a newbie in bitcoin, and I want to ask everyone, what happens to bitcoin if the electricity and internet in this world goes out? whether bitcoin buying and selling transactions are still running or not?
When this happens, not only Bitcoin cannot run but also all systems in this world that are using electricity and the Internet will not be able to turn. But, it doesn't mean that you lost your BItcoin. You cannot access it. If someday the electricity and internet connection are on again, you can then gain access again. This will also happen to all around the world that are using them. And if there is no electricity and internet again in this world ever after, this means there is doomsday happens 
October 28, 2022, 05:22:16 PM
The imagine a good answer to the question of what happen to bitcoin when electricity or the internet golly off, first one needs to know that Bitcoin doesn't and can't exist without the internet and that is why Bitcoin is referred to as the internet money since all it operations are done on the internet.
But we must also know that not only Bitcoin will be shutdown without the internet, all other essential services will also be shut down along side such as financial sector health sector and others that requires power and the internet to operate.
But we must also know that not only Bitcoin will be shutdown without the internet, all other essential services will also be shut down along side such as financial sector health sector and others that requires power and the internet to operate.
October 28, 2022, 03:26:04 AM
I'm a newbie in bitcoin, and I want to ask everyone, what happens to bitcoin if the electricity and internet in this world goes out? whether bitcoin buying and selling transactions are still running or not?
Imagine the scenario just remove the bitcoin from it what do you think? The whole world will be in Chaos and without internet banking system will also be broken even if they manage to get power with generator still without internet there will be no transaction and the essential items like food, gas, oil will become the currency. 
October 28, 2022, 03:21:27 AM
It's funny how people worry about how they are going to transact bitcoin in case of a worldwide electricity and internet outage. Worry about having enough ammunition for your shotgun before the looting starts. The world will come to a halt, and your main concerns will be finding enough food and clean drinking water so you and your family don't starve. If such conditions were to last, many wouldn't make it simply because we aren't used to it.
October 28, 2022, 02:45:02 AM
I'm a newbie in bitcoin, and I want to ask everyone, what happens to bitcoin if the electricity and internet in this world goes out? whether bitcoin buying and selling transactions are still running or not?
if that were to happen, the world would be left without electricity and the internet, how do you think other things would work? 2Banks for example? all monetary transactions are made over the Internet. at that point, money would probably no longer have any value, many things would change.
So, any loss because of holding value in bitcoin would be insignificant.
October 28, 2022, 02:39:02 AM
The bitcoin transactions are settled over the internet and recorded in blockchain and all this happens with the internet connectivity as it need to be visible to all the nodes to verify it so without internet it would not be functional in the real sense.Speaking of electricity then mining process requires electricity to mine new bitcoins so it would be problematic in its absence but not only btc but the world business will also shut down in many aspects as all of them are running with internet and electricity so it will not happen so btc don't have any such problems faced.
October 28, 2022, 12:52:25 AM
My dearest Loyce it might surprise you to know that there are part of Africa, Who have never see electricity, nor use the Fossils Fuel in their entire lives
Aren't Amish people doing the same (by choice)? They live in United States and Canada and swear off technology that includes using electricity and fossil fuels, and live in their own "cities" away from everything modern. October 27, 2022, 09:43:18 PM
If the electricity and internet were to go out, we would have more problems than just a bitcoin affect, with electricity being the key. If correct, bitcoin can run over RF and ham radio if needed.
October 27, 2022, 05:05:24 PM
I'm a newbie in bitcoin, and I want to ask everyone, what happens to bitcoin if the electricity and internet in this world goes out? whether bitcoin buying and selling transactions are still running or not?
I'm sure you've got good answers from others but I'll try to answer your question too. Bitcoin is not a physical coin, it takes the internet and electricity to be able to make transactions with it, without electricity and the internet we will not be able to transact with Bitcoin.
October 27, 2022, 11:43:09 AM
If you meant literally 100% no internet and electricity, then Bitcoin would halt — as well as the banking system, the world wide web, and a lot of other things that could be far more important than Bitcoin. Bitcoin would probably be the least of your problems in such a scenario.
We are now in a world of green energy, if I can run my BTC node on solar energy then I can still make transaction for myself, the halt will not be worldwide, only those how have no electricity will be affected, correct me if I am wrong with this idea. 
October 27, 2022, 02:35:50 AM
My dearest Loyce it might surprise you to know that there are part of Africa, Who have never see electricity, nor use the Fossils Fuel in their entire lives
You don't have to use fossil fuel directly by yourself to still need it. Most food wouldn't be produced without fossil fuel, the device you're using to post this needed fossil fuel to be produced, and even if you're using solar panels to power it, those panels were produced using fossil fuel. October 27, 2022, 02:30:16 AM
If you meant literally 100% no internet and electricity, then Bitcoin would halt — as well as the banking system, the world wide web, and a lot of other things that could be far more important than Bitcoin. Bitcoin would probably be the least of your problems in such a scenario.
I spent the night (last night) without electricity. That means no heating in the house, no cooling in the freezer, no working stove, no warm water, no shower, a laptop that runs out of battery and a few phones and tablets as lights. I especially like the tablet for this: it can last a few days.Bitcoin wasn't on my list of concerns.
Youtube has several videos if you search for "world without electricity". It's fun to watch as a thought experiment.
I'm pretty sure that without electricity, and without fossil fuel, the majority of the population wouldn't survive a year.
My dearest Loyce it might surprise you to know that there are part of Africa, Who have never see electricity, nor use the Fossils Fuel in their entire lives and till date they have no idea what it means putting on a Generator, those part of African be can located in part of Madagascar, Tanzania, Part of Nigerians, and few other places, it might amazed you to know that even where I comes from in Nigeria, I once stayed for 3 years without electricity, Neither do we have Fuel for Generator, but the community did so well, to create a Local Battery 🔋 hubs, Mix together for Charging mobiles phone. So it's deeper than you might think. During my days of touring those African countries, I saw hell on the surface of the earth.
October 26, 2022, 01:22:08 PM
A world without electricity sounds like the apocalypse to you guys but I have in that world. Constant power supply is a myth in most parts of Nigeria ~ Nigerians have learnt to live without the luxury of constant power supply
That's the thing: I wasn't prepared for it. When I am for instance camping, I'm totally fine without electricity for days. If you live in a cabin in the woods, you can be okay forever without electricity. But if you're in a place where everything is electric, an unexpect outage basically shuts down everything.Nuclear power grids cannot be shut down.
That's not true. Nuclear grids can be shut down (but the plant needs backup power for cooling). If you're a user on a nuclear grid, obviously they can shut you down.Quote
hypothetically, I know that banks are required to back up every stock transaction. For crypto, I would assume the same is true.
That's literally how a blockchain works.A much more interesting scenario is what happens with a transatlantic internet outage: let's say Bitcoin miners can no longer connect to all other miners, and the miners are divided into 3 different "local" pools for a couple of hours. Once connections are restored, they'll switch to the longest chain, and 2 out of 3 continents will see their blocks reorganized.
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