The internet itself would kind of need to die besides we have the blockchain the ledger of all transactions that occurred so far to rely on if a power outage anywhere occurred
Just need to load the chain
Topic: What happens to bitcoin when the lights go out? - page 2. (Read 1733 times)
Global network non-issue indeed
The internet itself would kind of need to die besides we have the blockchain the ledger of all transactions that occurred so far to rely on if a power outage anywhere occurred
Just need to load the chain
The internet itself would kind of need to die besides we have the blockchain the ledger of all transactions that occurred so far to rely on if a power outage anywhere occurred
Just need to load the chain
legendary
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Core dev leaves me neg feedback #abuse #political
In the U.S. we have had major power outages that last several days, see the NorthEast Blackout of 2003. http://en.wikipedia.org/wiki/Northeast_blackout_of_2003
While this doesn't happen frequently, it still seems to be a problem for something that most people want to replace fiat.
How does bitcoin today benefit anyone if that happens?
Paper coins that can be printed by anyone still rely on confirmation. Otherwise rampant counterfeiting would take place and the coin would fail. Anyone else see this as a problem?
The network is completely reliant on the power being on at all times for any transaction to be confirmed. Not only power, but it must also have an internet connection. Would you say bitcoin is centralized around these two factors?
While this doesn't happen frequently, it still seems to be a problem for something that most people want to replace fiat.
How does bitcoin today benefit anyone if that happens?
Paper coins that can be printed by anyone still rely on confirmation. Otherwise rampant counterfeiting would take place and the coin would fail. Anyone else see this as a problem?
The network is completely reliant on the power being on at all times for any transaction to be confirmed. Not only power, but it must also have an internet connection. Would you say bitcoin is centralized around these two factors?
It's a global network. Non-issue.
The world does not revolve around the United States.
There are other countries too.
So I am pretty sure that Bitcoin will continue unless there is a worldwide blackout but even then there are establishments with photovoltaics
There are other countries too.
So I am pretty sure that Bitcoin will continue unless there is a worldwide blackout but even then there are establishments with photovoltaics
In the U.S. we have had major power outages that last several days, see the NorthEast Blackout of 2003. http://en.wikipedia.org/wiki/Northeast_blackout_of_2003
While this doesn't happen frequently, it still seems to be a problem for something that most people want to replace fiat.
How does bitcoin today benefit anyone if that happens?
Paper coins that can be printed by anyone still rely on confirmation. Otherwise rampant counterfeiting would take place and the coin would fail. Anyone else see this as a problem?
The network is completely reliant on the power being on at all times for any transaction to be confirmed. Not only power, but it must also have an internet connection. Would you say bitcoin is centralized around these two factors?
While this doesn't happen frequently, it still seems to be a problem for something that most people want to replace fiat.
How does bitcoin today benefit anyone if that happens?
Paper coins that can be printed by anyone still rely on confirmation. Otherwise rampant counterfeiting would take place and the coin would fail. Anyone else see this as a problem?
The network is completely reliant on the power being on at all times for any transaction to be confirmed. Not only power, but it must also have an internet connection. Would you say bitcoin is centralized around these two factors?
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