What happens when there is NO electricity? How does one trade with BTC? - page 16.

Gila uang

newbie

Activity: 168

Merit: 0

Quote from: cross_over100 on April 20, 2018, 11:13:24 PM

I think we can't do anything if there is no electricity, bitcoin that time would be useless. I hope we can't experience that bad calamity no electricity because it's affected not only bitcoin also the community.

I think It's an unreasonable question, because not only bitcoin trade will be affected, but all things powered by electricity will also disappear. Imagine life without energy, surely you will struggle everyday life by knowing that we are already living in this comfortable world because of gadgets or objects that use electricity. If it's gone then it's messed up.
You will not really bother or to troubleshoot these things first when there is a power outage surely you will find to secure your first family, loved ones about how to live without electricity rather than thinking about how you will be able to trade with bitcoin.

webdevmastery

full member

Activity: 434

Merit: 100

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 affecting the entire world and not only the cryptocurrency, there is no way for you to trade without electricity because you also need the internet, cryptocurrency will just go to waste if electricity will not work on different country.

robynmario

newbie

Activity: 168

Merit: 0

There will be no transaction occurring when there is no electricity. Because bitcoin and crypto are born from online technology. Power is the most important to maintain and together with the internet it brings a unified whole to sustain and develop technology, economy and society. Electricity is essential and important in every person's life. Electricity is the great invention of technology and man.

Dansamiv

newbie

Activity: 224

Merit: 0

An interesting question. Wink

Actually, electricity or the internet is too important for any profession in technology, communication, economics, society ... with my views on the question, What will happen and what can be done when power outage. All transactions will be suspended.

malbano2099

newbie

Activity: 84

Merit: 0

if there is no power in this manner there no exchanges that can be made in cryptos. Each and every exchanges in bitcoin and altcoins need web and devices and that things utilizes power to capacities. I figure this would be the most detriment in digital money contrasted with fiat in light of the fact that if there is a gigantic indicidents that there is no power then certainly every cryptos exchanges will be crippled while fiat can be utilize whenever with or without the use of electric.

19spawnfeed

jr. member

Activity: 182

Merit: 4

Quote from: airdrophunter on April 29, 2018, 10:12:09 AM

Electricity is one of the ingredients of bitcoin's existence. Of course, how can a single node be a part of the blockchain if there is no electricity? Therefore, electricity is very important before a single transaction can be made in the blockchain.

Yes Mate the electricity is one the bitcoin ingredients and if is malfunctioned a single transaction cannot be made. It is very important to trade because we need this electricity if we do transaction.

airdrophunter

full member

Activity: 434

Merit: 100

The Exchange for EOS Community

Electricity is one of the ingredients of bitcoin's existence. Of course, how can a single node be a part of the blockchain if there is no electricity? Therefore, electricity is very important before a single transaction can be made in the blockchain.

basyang

full member

Activity: 644

Merit: 100

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?

Yes. As you said, you can trade in bitcoin once you are connected in the internet but unfortunately you can not work without electicity unless your cellphone or your laptop is fully charge or their has a electronic supply or generator once the electricity suddenly lose.

teleskopta

member

Activity: 154

Merit: 10

They cannot work without electricity even bitcoin trading, and other work on it that depends on the internet. If the electricity shuts down, there is no use of internet. Everything will shutdown but there are alternative source for electricity like generators and solar but it just have limited time of used.

Froloff92

member

Activity: 238

Merit: 10

Unfortunately, Bitcoin is based on Blockchain Technology in which we can only use if we have the proper ways to access it like the Internet. This basically means that having no Electricity will give us no connection to Blockchain Technology and other Cryptocurrencies.

Cryptoproff

member

Activity: 224

Merit: 10

we cannot see the world is growing and we are in the dark age without having a chance to make a changing to a better life and there will be any chaos that will happen in many places.

MondayTraddd

newbie

Activity: 89

Merit: 0

That would be a bad luck and nothing can they do. But if you are in public wallet you can access it from others device to get them

xnuggets

member

Activity: 125

Merit: 10

Mobile data on phones can be used. If still not because of electricity and connection. I prefer to have one trusty mate, like your relative that lives far away from you, in other country for example. High trust of course is needed, still if this isn't enough then it is bad situation for you.

Friskaadew

jr. member

Activity: 168

Merit: 1

I think there is a point, if there is no electricity then it is difficult to access the internet network. So for bitcoin transactions may not be possible, I had thought about transacting bitcoin manually but it feels very strange and can not.

lifengpu

sr. member

Activity: 504

Merit: 250

use mobile devices for this or refer to friends who are familiar to assist in trading bitcoin or pay bills for electricity Wink

Gabash

newbie

Activity: 138

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?

...usually, when there is a disaster or calamity, the electricity will be affected, but the government often anticipate for it as a priority, because electricity is important thing for the access like, broadcasting or whatsoever. I think the government supporting them for some basic needs like reliefgoods, so they could survive while fixing the electricity.

Commie

full member

Activity: 621

Merit: 108

Quote from: anntlevel on April 28, 2018, 02:30:41 AM

Quote from: AIRDROPSQUAD on April 25, 2018, 12:27:35 PM

No electricity = No internet connection. So, you can't broadcast your transaction to the Blockchain. Actually, electricity is the main source in this world. So, it's impossible to trade it with BTC. I think this also the flaw of digital currency.

No electricity means no internet and no internet means no bitcoin and any other Altcoin. Bitcoin will crash as many other things. But it can be possible only if there is thirst world war. We will reach to barter system again because if there is no electricity the government will also be unable to print local currency. So we will be back to stone ages without electricity.

Food and ammo will become the most valuable things in this case, not gold or crypto or anything else valuable today.

zhuiyongliang8

newbie

Activity: 210

Merit: 0

Bitcoin is a brand new thing. It's based on a whole new technology on the Internet. Without electricity, there would be no Internet, and bitcoin would not be able to trade.

anntlevel

jr. member

Activity: 286

Merit: 3

Quote from: AIRDROPSQUAD on April 25, 2018, 12:27:35 PM

No electricity = No internet connection. So, you can't broadcast your transaction to the Blockchain. Actually, electricity is the main source in this world. So, it's impossible to trade it with BTC. I think this also the flaw of digital currency.

No electricity means no internet and no internet means no bitcoin and any other Altcoin. Bitcoin will crash as many other things. But it can be possible only if there is thirst world war. We will reach to barter system again because if there is no electricity the government will also be unable to print local currency. So we will be back to stone ages without electricity.

zmkriel

full member

Activity: 406

Merit: 105

Obviously, if there is no electricity therefore there no transactions that can be made in cryptos. Every little transactions in bitcoin and altcoins are in need of internet and gadgets and that things uses electricity to functions. I guess this would be the most disadvantage in cryptocurrency compared to fiat because if there is a massive indicidents that there is no electricity then definitely every cryptos transactions will be disabled while fiat can be use anytime with or without the usage of electric.

Topic: What happens when there is NO electricity? How does one trade with BTC? - page 16. (Read 3107 times)