Topic: what happens to bitcoin if the electricity and internet goes out.? - page 2. (Read 645 times)

will this take us to the stone age?
we know that now we with the simplest life also use electricity and the Internet. didn't think the world would return to such a decline.
and if this imagination happens, Bitcoin, even fiat banking will not operate. We're back to bartering finance. where we will exchange the assets we have to get our needs.

Nuclear power grids cannot be shut down. Therefore the probability that the electricity grid will shut down is zero. Nevertheless, if this were to occur, hypothetically, I know that banks are required to back up every stock transaction. For crypto, I would assume the same is true. Reality, however, is stranger than fiction. However, is it possible for paper bills to "hold" crypto? The same as gold certificates?

There are ways to generate electricity such as using generator where you only need gasoline to keep the generator on. The question that we should answer is what will happen to cryptocurrency if the Internet goes out?. The answer to that is obvious which is that every block that will be mined sooner or later won't get mined since miners need internet so that the mining rig will work. If that happen then all transactions will stop and if all transactions will stop which means sending or receiving Bitcoin is not possible or won't happen. Do you think there will be new transactions?. I don't think there will be new transactions where miners include it in their pool until the transactionw are confirmed. I will make it short, Can you search any random videos on YouTube without Internet?. The answer to this questy will be the same as what will happen to Bitcoin if internet goes out.

What makes you think in such way right now since we haven't had the web got shutdown or other banking transaction shut down since as a result of electricity and internet going off, therefore if those things are still working perfectly since they started operation and internet or Electricity hasn't been shut down yet, I see no reason to panic or talk about what happens to Bitcoin should internet or Electricity gets shut down.

Yeah, because that's what every human aspires at, leaving in fear, in poverty, with the constant fear of his firstborn being one of those 60 dead in a thousand, a 30x death rate for infants compared to other countries, a lack of basic needs and a constant fear of not having enough food next day and now way to store some food in advance because, well, again, poverty and basic utilities lacking.

For centuries the human race has gone without electricity, do you think that's where we should go back?
Did you go without electricity? My family went through two world wars, concentration camps, and re-education camps, wanna test those and see? Or you would just like to have the normal standards of life like everyone else instead of bragging about how you can go without food and how stupid are those people who have enough in their fridge for a month?

This stupid thing of I'm tough, I don't need that, those pussies in the western world who can't do that or that with a stick and a stone and a banana peel really needs to stop.  Rather than congratulating yourself that you can't live the way you do maybe it's about time to think of improving yourself.

Oh, and btw, where did you get that Batman quote from?
Of from a western movie, made with electricity, distributed to your country with electricity and you've watched it with the help of electricity! So much for that darkness of yours!


And how would those satellites get the data from the people on the ground?
Because I'm pretty sure you know your phone is not able to send data into space, they use ground stations, which run on electricity also.


And without electricity and cell towers and internet how are you going to send the data from your computer or phone to those stations (assuming they still have a back-up power supply?

I think not having electricity can easily be countered by using backup power like a generator, solar energy, and other several options but not having internet is a different ball game as this means you will be locked out of your wallet with no access whatsoever which will make this experience kind of an involuntary cold wallet 
And should markets turn volatile, be it bullish/bearish you cant sell your coins and just need to watch markets run.

Yeah this was what I was thinking of. There are others thing to mind when electricity and the internet goes out. I can even imagine that just Google being shut down for an hour then a lot of web projects out there would be stalled considering how many are really dependent or finding Google really useful.

Couple of days ago, there was a heavy rain here in my country that caused power outage and heck I cannot almost be productive without the use of electricity and internet.

All of online transaction will stop and for sure it will be pause and nothing will happen to any of it since there's no transaction will happen so for sure what figure last time we see will still be the price if the electricity came back. But this is so impossible to happen so don't worry about this issue since the only thing can devalue bitcoin if all people will start to sell all of their holdings.

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.

If this really happens, then we need to invest on solar panels to plug our devices. And in terms of transacting Bitcoin without internet, it’s possible through Blockstream Satellite. You might wanna Google about that though.

Satellite connection is a great alternative for cryptocurrency transactions. Like in Brazil, they have deployed a satellite Bitcoin full node.

Without Electricity or sources of power generation i can say the world is half dead literally nothing will function in the world, this includes all sectors of livelihood. Talking about internet then we can say you and i can't visit our fiat money (local currency) or bitcoin wallet or have access to transaction whenever its being needed, there would be no banking and almost all the 1st to 3rd class countries would record almost 65 percent death rate quote me right if i may be wrong.
So i can say Electricity is the getaway to internet and human lives.

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 so much so people would get uncomfortable and suspicious if they had 24 hours of electricity. Nigerians have learnt to live without the luxury of constant power supply, reading all the comments reminds me of my favorite Bane - Batman dialogue “ Ah you think darkness is your ally? You merely adopted the dark. I was born in it, molded by it. I didn't see the light until I was already a man, by then it was nothing to me but blinding!
I think we would feel the impact of not having the internet more, the world is hooked on the internet I doubt if we will be able to survive without the internet.

Electricity is periodically turned off in my city, and even though we understand that this is just a temporary phenomenon, I see the sad faces of loved ones, and there is no need to talk about our own well-being. People are so accustomed to all the conveniences of civilization that to wake up and experience a lack of light and water is a great depression. I do not understand what to do in such situations for children who are cold, dark, and simply need to be on the move, but I communicate with people who are now experiencing this, and it hurts me very much to hear it. 
And here, in such a situation, the thought of bitcoin cannot arise when one’s own health becomes important. And if we talk about the complete absence of electricity, then many will simply lose the meaning of existence.

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.

The question would be better be what would happen to the world if electricity and internet goes off. Bitcoin would also suffer from that, but all companies, industries and institutions will all suffer from it. It will make live very difficult. No computers or online device will work, these may lead to cause of death of many people like people that depend on both in hospital. Resulting to unemployment and other related issues that will make the present world not to be like it is but bad.

Bitcoin is a new technology that relies on electricity and the internet, no transaction would be possible without them. This would be a huge setback for it if the internet and power supply are cut off, but thankfully, such has never happened in many centuries ago. Even if a country is battling with electricity and the internet, other countries of the world would be enjoying it, and Bitcoin transactions continue.

However, in this present dispensation, only world war or alien invasion could make the whole electricity and internet connection of the world cease.

All thanks to electricity for every development in the modern society. Bitcoin is no different. It's a modern technology which requires electricity. Without that, Bitcoin will have no value or meaning as it is stored on the internet. So without electricity and internet Bitcoin will be a waste. If you want to use it as a physical transaction system then the sole purpose of BTC being what it is now will be nothing.

It's a disaster for every countries and every institutional since they're really need electricity and internet, it's not only Bitcoin that need both of those thing. Banking system and fiat money will become worthless too since the government can't control their money and they can't print new money anymore. Everyone will mostly hold gold and using barter system if they want to buy food, water or medicine.

If the whole world is cut off from the internet and shuts down for a long time, your Bitcoin (if You Have one) will remain safe with you and will remain in your personal wallet even if there is no internet and no electricity.

The short is that Bitcoin and other cryptocurrencies will continue to function even during the collapse of society and that is why most of the experts in the industry believe that Bitcoin has found its way to survival.

You can imagine for yourself that your daily life without electricity and the internet, does not need to think what happened to Bitcoin, because in fact the scale is still small for Bitcoin compared to other things that are also run by electricity and the internet, and the possibility of it happening completely throughout the world is very small and even impossible.
If electricity and internet goes out all over the world then the main thing to do about is how to turn it back on instead of thinking What About Bitcoin because it will automatically halt.