What happens when there is NO electricity? How does one trade with BTC? - page 13.

kuckong

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Token That Will Transform The Venture Capital Mark

Quote from: solve_it on September 28, 2017, 09:58:58 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?

I really agree with your writing. bitcoin is very beneficial for people who have it. the benefits of bitcoin in my opinion very much. when compared to banks, bitcoin will be better than the bank. By saving or investing in bitcoin, you will receive more profit. and in an emergency, bitcoin is indeed much more efficient and easier in all transactions. and in a very urgent case, you can take it by converting into your daily currency. I hope the news as in Puerto Rico does not happen in our country.

Nahl

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Quote from: rutherford on May 13, 2018, 09:08:35 AM

That is why you need paper money for transaction in your country. Imagine if your country has gone paperless (money), then one day your country attacked by natural disasters which cause no electricity, it means no crypto transaction, then what will you do. You do nothing because there's nothing you could do. Disasters could ruin your signal tower, though there is electricity there will be no signal. So you won't be able to access your crypto wallet.

all of aspect required electricity from industry sector to banks and paper money also required electricity especially if you're use banks for stores your money and moreover also crypto that rather than other factor electricity is the most important things to do transactions and mining but indeed people can't life without that

BitProCoin

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Obviously nobody can, since bitcoin is a computerized money that requirements electric influence run the PC frameworks of the client and the hubs taking an interest in the blockchain.

_yoshi

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If theres a nature catastroph, your bitcoins and espacially the trading should be your least worries. And for other reason, if theres no electricity around, you can not trade cryptocurrencies or use them anyway. This should be clear. And we dont have to await that indigenous tribes in amazon jungle will need to use cryptocurrencies. So cryptocurrencies is for states with powerplants and who has electricity all the time. Otherwise the whole blockcahin can not work.

buternasek

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If natural phoenomena happens in one country, losing electricity is not in their top priority. They need to eat and find a safe shelter. I think i would not think of trading in that moment of chaos. Afterall i cant use my phone or computers, they might be washed out. If a person have the intense urge and really have the passion in their trading, lossing all the basic needs doing this is really hard to imagine. Sorry for those people who cant do that unless you are rich, find another place with comfy home with electricity qnr internet.

trako

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it all ends in a very clear way. The disaster is very important, but it does not have to be disastrous. Everything stops when you have a simple electricity interruption. As I said earlier, cash is always important.

rutherford

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That is why you need paper money for transaction in your country. Imagine if your country has gone paperless (money), then one day your country attacked by natural disasters which cause no electricity, it means no crypto transaction, then what will you do. You do nothing because there's nothing you could do. Disasters could ruin your signal tower, though there is electricity there will be no signal. So you won't be able to access your crypto wallet.

Celebrity

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Quote from: VeronAncient on May 13, 2018, 08:26:15 AM

I think it is impossible if there is no electricity in our lives. all bitcoin trading activities will be paralyzed and will not be able to walk again. and all investors will suffer huge losses and economic destruction will occur worldwide.

Sometimes blackouts happens, even in united states of america. So without electricity, one can't execute a transaction, he can't transfer, he can't send or receive bitcoins. Also internet the same, without it, the network connection is not presented.

VeronAncient

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I think it is impossible if there is no electricity in our lives. all bitcoin trading activities will be paralyzed and will not be able to walk again. and all investors will suffer huge losses and economic destruction will occur worldwide.

Elviragreg

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I think we will not be able to transact if there is no electricity or internet network. Because all our wallet must be connected with the internet connection and the internet requires electricity.

kalawang

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Quote from: solve_it on September 28, 2017, 09:58:58 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?

no. cause we all know that bitcoin is crypto and cryptocurrencies works in internet "cyber world" so how can we access the cyber world when we dont have an access on internet. internet connection is verry important on bitcoin era. also in other cryptocurrencies. we should have a better connection on internet so we can start and manage our doings on cryto world or how we can survive cryptocurrencies world when we dont have a proper internet connection

zenfo

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Quote from: c++btc on May 13, 2018, 07:07:05 AM

If they don't have an electricity in just a day or just a month maybe a year the bitcoin that they stored in their account will definitely stay in the wallets that they trust specially when they use and exchanger to be their temporary wallet for trading. But by that time they cannot do any trades because there is no electricity at all.

I don't think if its possible to have no electricity, as we are in the new generation having many gadgets and high technology appliances the business in our surroundings were powered by electricity. for sure many people will find a way just to have electricity.

Today, the mind of many people have enough knowledge due to the internet by gaining their knowledge and learn something new. Most of us will think an alternative power source such as solar energy, wind energy and hydro power energy. Having this different source of energy for sure all components like computer and cellphone will totally used and trading process with bitcoin will be provided...

FUD Expert

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I really don't see power outtage getting in the way for crypto because people can't live without anymore especially stores and other business. If there is a huge calamity that would cause that, I'm sure that the government will back them and give them limited amount of electricity to use their virtual coins.

c++btc

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If they don't have an electricity in just a day or just a month maybe a year the bitcoin that they stored in their account will definitely stay in the wallets that they trust specially when they use and exchanger to be their temporary wallet for trading. But by that time they cannot do any trades because there is no electricity at all.

fredo123

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It would be difficult to transact electricity, eventually digital currency will be paralyzed and thats the time to go back to traditional mode of payment, Every gadget are powered by electricity, so therefore digital currency will also die without electricity.

wtbhitlv

newbie

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Without electricity, the Internet will be paralyzed, so bitcoin will be difficult to operate. Because no one can mine, and when people need to pay for the transfer, no miners will serve you. Soon encryption will fall. Maybe it's time for us to consider alternative energy sources. Maybe replacing solar power with solar energy is a good choice.

Aldrinx00

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Security and safety is the most important thing to do of such a disaster like this happened, knowing your family is not hurt nor someone is missing or dead is a relief in that scenario. However if it really needs to use Bitoin to buy basic needs i think that there is someone in that place who has a generator to use.

Valzzz005

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Quote from: garytheasshole on September 28, 2017, 10:00:32 AM

If there's a natural disaster cutting off electricity for days, trading bitcoin should be least of your worries really. Priorities man.

That is true if there is a natural disaster and there is no electricity then you will focus more on how to survive that day rather than to think about your bitcoins. And if wvwr that those thing happen even if no natural disaster there is no way you can access bitcoins because there is no electricity bit if you have charge your phone then you have an internet data in it then you can acess it but I do not think about the connection because of the fact that there are no electricity so data providers have no electricity too so much better to no transactions that day

apolonio

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Quote from: pernah ada on May 06, 2018, 12:45:50 PM

how can we trade with btc if there is no electricity because that's the main factor to run btc, if there is no electricity then the internet is also unreachable.

There is another way to have alternative electricity, there is generator and solar pannels. You can use your mobile phones to trade with btc using your own data. And there is also powerbanks in case your mobile phone is low battery.

Raufjoze

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Quote from: maculeth on April 27, 2018, 08:20:51 AM

can not, btc transactions should be online, if there is no electricity then can not do btc transactions. if in the future there is the possibility of btc offline, it will make it easier for us in transacting, even though the power goes out.

The purpose of crypto transactions, we can minimize the failure when trading if the current is unstable. I think the best step is to make an electric generator. So when there is a periodic power outage, we can use a generator to anticipate it

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