What happens when there is NO electricity? How does one trade with BTC? - page 14.

sgenuine

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Activity: 854

Merit: 103

Quote from: lokanot0 on May 03, 2018, 11:31:54 PM

If there is a natural disaster and the issue is how to buy resources using BTC during electricity outage, then that country using BTC as their currency has a very big problem. BTC can only be used through network, well you can manage to trade through your phones or other gadgets that has battery, but eventually it would run out.

If the electricity is over only for a few hours, use the gadgets you have (install first the needed applications). You can also go to the friends that have electricity and the Internet. The way out will be always found.

AntonGrishko

member

Activity: 224

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You are correct and I do hope some of these countries would have solar power so they can charge like their phones if needed be. Maybe people from other countries can donate or are donating these solar power panels but it does cost much.

pernah ada

newbie

Activity: 95

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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.

Oto3

member

Activity: 195

Merit: 10

No electricity - no network bitcoin. And this is another important reason why now bitcoin is not ready to become the main world currency. It is in such cases, as it is written in your post, we say "thank God that we have the fiat money."
Perhaps in the future the technologies will achieve such development that we can exchange crypto-currencies at any time and in any situation, but now this is impossible.

Watchy312

member

Activity: 193

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In countries like venezuela, should establish a vast tower at a hight so that even during disaster needy one can get them back

Bestpromoter

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Activity: 322

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If you are saying that all of the world will be going to black out forever there is one thing that will happen. There is no Gadgets anymore if that happens and Bitcoin will be forgotten but if only 1 server suddenly have no electricity bitcoin will stay remain other market will be used.

BitcoinNational

legendary

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Join The Blockchain Revolution In Logistics

Witout electricity, you cannot trade BTC but without electricity there is a lot of things you cannot do. And it's not a very common situation, I mean if it happens, trading bitcoin wouldn't be the priority

rysheeer

newbie

Activity: 196

Merit: 0

This would be the moment where all the traders, investors and the adapters to take some day off. We can't manipulate what will happen but we could make an action to prevent those kinds of circumstances. That's why we need to take care of our nature first.

anussayme

newbie

Activity: 72

Merit: 0

Bitcoin cannot be traded without a power source, but today's technology is growing, but most people use the power to create virtual currencies as well as the tune between virtual currencies. Together, many people give the country a good economy but will end up without electricity.

Fatimah Azzahra

newbie

Activity: 182

Merit: 0

in my opinion all that is related to the internet and cyberspace is electricity, if electricity is not there it will be difficult to do activities or activities in cyberspace or the internet, even to do bitcoin trade was very difficult.
But as the advancement of the era as now many electronic appliance now can fill the power by using solar or solar power, maybe that we can improve again ability to change electricity.

pureheart

newbie

Activity: 116

Merit: 0

Quote from: solve_it on September 28, 2017, 10:58:58 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?

For me it's really a disaster if we don't have electricity.
We all know that we need technologies in order to use our bitcoin since it's a digital currency. Technologies needed electricity in order to function.

carlisle1

hero member

Activity: 2744

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Campaign Management?"Hhampuz" is the Man

This is why im strongly supporting the idea of bitcoin cant replace fiats forever..physical money and bitcoin or cryptocurrencies will always be together,the example of this is electricity,all transaction will stop if electricity is none existent so fiats will take place..

So my answer is YOU CANT TRADE WITHOUT ELECTRICITY

fileo

member

Activity: 658

Merit: 10

Rangers Protocol

Basically no electricity no charge of power when the limit of battery storage reach. So, no electricity no bitcoin. I mean no electricity is total shutdown of electricity industry all over the world.

Arlette Foxsparkle

jr. member

Activity: 196

Merit: 2

I think you mean with this without electricity how can we use bitcoin as a transaction of payments. Hurricane This phenomenon is often experienced by the countries in South East Asia but they called in typhoon. After the devastation of typhoon, hurricane, or cyclone some parts of a paticular countries are damaged so that electricity is one the biggest problem. Then if we talk about trading with Bitcoin without electricity is very hard however I think government do everything to fix this problem so while waiting for the government actions we don't have any choices is to stop trading and wait until the electricity will back.

laravuemaster

full member

Activity: 378

Merit: 100

When Football meets Crypto

Quote from: solve_it on September 28, 2017, 10:58:58 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?

Electricity is the reason why cryptocurrency is keep on circulating on the market, mining hardware's that are running block chain on the internet requires electricity in order to work and it was also mandatory to our daily needs.

pallang

full member

Activity: 518

Merit: 100

This is a major problem in cryptocurrency for we all know that no electricity no transactions but there are options you can have a generator to have electricity and maybe you can use data in order to trade with bitcoins but this will only happen when calamity comes and it will not last long because people need this especially those with business.

cryptoalfs76

full member

Activity: 406

Merit: 100

▰▰▰ MODULE ▰▰

Quote from: solve_it on September 28, 2017, 10:58:58 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?

Definetly if theres no electicity ,theres nothing happen transaction in the world of cryptocurrency,especially in the blockchain market or trading exchange market,because digital system is run through internet connection and electricity, so therefore without having this two resources of technology,theres nothing happen in the world of cryptocurrency,thats why mostly country belong in thirds worlds is illegitimate interms of technology in crypto currency because of poverty and away of civilization.

geegaw

hero member

Activity: 1316

Merit: 502

Quote from: genocide on May 03, 2018, 10:30:28 PM

Quote from: solve_it on September 28, 2017, 10:58:58 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?

In this kind of situation, wherein we don't have control over the nature, what important is the lives of the people and forget for a while about trading and investing. For sure having no electricity is not for a lifetime. Then, trade again if it is already fixed.

If the market is in a critical moment, forgetting to trade will not bring us a good result, so we should look for some measures to solve the problem when we fall into this situation, nothing is impossible to solve as long as we try and think. Although no electricity and telephone can not connect to the internet but we can still call some of our close friends or relatives in other areas, they will help us, maybe this will be quite troublesome but it's still better than waiting, even if this is not possible, we can go to some places with internet connection in the area, these are places for emergencies and needs

CryptoLoverz

full member

Activity: 322

Merit: 100

Surely this is not expected by everyone. In this situation, when people just need to buy food and clean water. I do not think the people there have any idea to trade bitcoin. And if there is no electricity, internet access would be disconnected. As for trading bitcoin we need internet. So it can be concluded that if there is no electricity there would be no bitcoin trade.

dz roknroll27

newbie

Activity: 378

Merit: 0

I don’t think so that there can be such possibility when there will be no electricity in this world. But it can be possible only if there is thirst world war.

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