Topic: What happens when there is NO electricity? How does one trade with BTC? - page 10. (Read 3132 times)
May 23, 2018, 06:02:50 AM
Of course the answer is no electricity no trades. How can you trade to bitcoin if no electricity right. So we need to find a place with electricity and so unbelievable if the earth is no electricity.
May 23, 2018, 05:51:21 AM
We hear in the news that many people in countries that have currency issues are starting to trade in BTC - for example, Venezula.
My friend asked me what about in regions where they lose electricity, how would they trade with BTC?
For example Puerto Rico is right now devastated by the hurricane, and many parts of its region don't have electricity. A lot of people need to buy food and even fresh water.
Is there a way to still trade with BTC in such situations?
Can P2P trade still occur despite having any connection to the greater block-chain network? Keep in mind that it's easy to charge mobile phone so they have access to wallet apps, but probably not the Internet.
I don't know too much about mobile data networks, but I doubt one's 4G/LTE data plan would work in such situations. I assume that data would have to be relayed to a tower/dish before it's sent to satellites. Am I correct?
My friend asked me what about in regions where they lose electricity, how would they trade with BTC?
For example Puerto Rico is right now devastated by the hurricane, and many parts of its region don't have electricity. A lot of people need to buy food and even fresh water.
Is there a way to still trade with BTC in such situations?
Can P2P trade still occur despite having any connection to the greater block-chain network? Keep in mind that it's easy to charge mobile phone so they have access to wallet apps, but probably not the Internet.
I don't know too much about mobile data networks, but I doubt one's 4G/LTE data plan would work in such situations. I assume that data would have to be relayed to a tower/dish before it's sent to satellites. Am I correct?
No matter how strong our internet is, there is no way for us to access cryptocurrency or do trading without the electricity. There are some places where there is really no electricity which is a disadvantage for those who really want to access crypto. It could be possible if there is another means of electric supply.
May 23, 2018, 05:16:24 AM
No electricity means you can't trade because doing trading needs connection if you don't have this you can't do it. But some people used cellphone as trading, is it true? If its true, it is good to hear that because if you don't have a connection in your place then you can load it so you will have a internet connection to start doing trading.
May 23, 2018, 03:15:16 AM
When there is no electricity and no other option to trade with bitcoin, to trade on stock and share markets also it requires internet and electricity otherwise when the nature is against this, there is no other go or find other viable sources like installing inverters to use internet during such natural calamities and try doing trading. Other way is to find a good GSM data pack for trading via mobile which can be utilised unless and until you get the electricity corrected.
May 23, 2018, 02:18:08 AM
We hear in the news that many people in countries that have currency issues are starting to trade in BTC - for example, Venezula.
My friend asked me what about in regions where they lose electricity, how would they trade with BTC?
For example Puerto Rico is right now devastated by the hurricane, and many parts of its region don't have electricity. A lot of people need to buy food and even fresh water.
Is there a way to still trade with BTC in such situations?
Can P2P trade still occur despite having any connection to the greater block-chain network? Keep in mind that it's easy to charge mobile phone so they have access to wallet apps, but probably not the Internet.
I don't know too much about mobile data networks, but I doubt one's 4G/LTE data plan would work in such situations. I assume that data would have to be relayed to a tower/dish before it's sent to satellites. Am I correct?
My friend asked me what about in regions where they lose electricity, how would they trade with BTC?
For example Puerto Rico is right now devastated by the hurricane, and many parts of its region don't have electricity. A lot of people need to buy food and even fresh water.
Is there a way to still trade with BTC in such situations?
Can P2P trade still occur despite having any connection to the greater block-chain network? Keep in mind that it's easy to charge mobile phone so they have access to wallet apps, but probably not the Internet.
I don't know too much about mobile data networks, but I doubt one's 4G/LTE data plan would work in such situations. I assume that data would have to be relayed to a tower/dish before it's sent to satellites. Am I correct?
No electricity means no trading. It is as simple as that. But take note that there are now several sources of electricity. Even if the general electric provider of a certain area is out of service, if the online or internet network provider can still operate from alternative sources of electricity such as huge generators, or solar power, etc the services will go on. And if you have your own household generator set, you can still continue with your trading.
May 23, 2018, 02:14:52 AM
If there's a natural disaster cutting off electricity for days, trading bitcoin should be least of your worries really. Priorities man.
Made me chuckle, but i guess OP has a point here. I mean if you're place was destroyed after a hurricane you kinda need the means to buy food and water for your family. If you're a heavy crypto currency user then this woukd be a hassle especially if networks and electrical services are down. I guess, you should've prepared before a disaster?
May 23, 2018, 02:10:49 AM
Concerning bitcoin it is up to you to decide what to do, to hold or to sell, so it can be considered more safe.
May 22, 2018, 03:55:37 PM
Its hard to survive when there is no electricity. my everyday life goes on with the internet.
May 22, 2018, 01:29:20 PM
I think that it won't be able to do anything if it will be like that, but it will be last of your problems when you won't have electricity around you.
May 22, 2018, 01:09:59 PM
Quote
We hear in the news that many people in countries that have currency issues are starting to trade in BTC - for example, Venezula.
My friend asked me what about in regions where they lose electricity, how would they trade with BTC?
For example Puerto Rico is right now devastated by the hurricane, and many parts of its region don't have electricity. A lot of people need to buy food and even fresh water.
My friend asked me what about in regions where they lose electricity, how would they trade with BTC?
For example Puerto Rico is right now devastated by the hurricane, and many parts of its region don't have electricity. A lot of people need to buy food and even fresh water.
Like finance, not all power has to be centralised and provided in a fixed way. So really all these bad situations with failure of infrastructure could be solved to a small extent with solar panels. Long term this kind of diversity is probably important and I think this is known and recognised by quite a few across the world, reliance on just one source of power is a weakness.
Those countries mentioned have good sunlight so they have a possibility to power small efficient circuits. Thats probably your best answer, Bitcoin hopefully also becomes an efficient enterprise and able to operate in this way.
May 22, 2018, 12:50:57 PM
Well that would suck, but there are people working on this solution everyday! I found out only a couple of days ago that this new startup is launching an application so you can do offline transactions. Only catch is that it costs $179 but still when they get this technology widespread the cost will be next to nothing! https://thenextweb.com/hardfork/2018/05/15/app-trade-bitcoin-without-internet/
May 22, 2018, 12:40:51 PM
When there is no electricity, all activities on the internet will stop. Bitcoin trading also will not work. If there is no electricity, everyone will live like a primitive man
May 22, 2018, 11:54:32 AM
For me, it is impossible that there will be no electricity in the whole world that can’t transact with a single bitcoin or another cryptocurrency. But if someplace don’t have electricity the trading transaction will not stop because bitcoin is worldwide, but if you want to say that the whole globe will lose its electricity it means that no trader and no transaction will happen, but if you have a bots that can buy and sell even your offline or afk I’m sure that there will be a transaction but if the internet is entirely cut I’m sure that their will be no transaction will happen. 
May 22, 2018, 09:23:35 AM
If there's a natural disaster cutting off electricity for days, trading bitcoin should be least of your worries really. Priorities man.
I like this comment, haha. If a typhoon is crashing your house and you lost electricity, I doubt that you would be making fuss about Bitcoin but about the effect of lost of electricity on your daily lives. Lol
May 22, 2018, 09:02:07 AM
If there is no electricity then every bitcoin deal will stop working and even bitcoin can be deleted because there is no internet.
May 22, 2018, 08:43:15 AM
I think there is no other option left other than asking your best friends and family members to operate your Id and off course you would need to see if your mobile works in a situation like that because otherwise you cannot even call them and tell them things .
Bitcoins is barely legal in most countries and many have banned it there are just few countries supporting it therefore I think invention of something like that would literally take time .
Bitcoins is barely legal in most countries and many have banned it there are just few countries supporting it therefore I think invention of something like that would literally take time .
May 22, 2018, 08:32:42 AM
If there is no electricity, all transactions through the internet can not be made or may be deleted.
May 22, 2018, 05:05:05 AM
Well there is simple logic - there is no Internet access without electricity which means there is no way to trade or make transactions.
May 21, 2018, 08:34:15 PM
When there is no electricity,then logically no internet. Its the end of all, especially those who depend on online transaction. Welcome to stone age or Medieval age I may say. But, the possibility is small in my opinion unless there is a catastrophe happens on our planet.Also, people are now using renewable like solar, waves, hydro or any option to generate electricity. So, the possibility is nil.
May 21, 2018, 08:07:42 PM
If such happens, then the peoples should focus on helping the others not on their personal benefits at that time
Jump to: