Topic: What happens when there is NO electricity? How does one trade with BTC? - page 17. (Read 3132 times)
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.
April 27, 2018, 08:20:04 AM
If there's a natural disaster cutting off electricity for days, trading bitcoin should be least of your worries really. Priorities man.
You beautifully captured the answer I have in mind! Without electricity and an internet connection how else do you want to make a bitcoin transaction. The bitcoin world is an evolving one thought still in its infancy. It will surely evolve to handle situations like this. April 27, 2018, 08:16:45 AM
The supply of electricity charge in the battery is limited, some just an hour or depends on how it use. Nothing last long if it is just a battery. No electricity meaning no power, no resistance, and no internet. Whether we like it or not it is disabled. So, no transactions and no connection at all for bitcoin connection relays in internet.
April 27, 2018, 08:10:42 AM
If this will happen no electricity in your place i think the best way to do is go to your friend or relatives on nearby towns who have electricity and have transactions with your bitcoin in order to have something to use in buying supplies for the family in times of disaster.
April 27, 2018, 07:42:46 AM
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.
In the 21st century when the technology has advanced this much, I don’t think so that there can be such possibility when there will be no electricity in this world. If there comes a situation like this, then I don’t think so that we will be left with any other option which can help us in either investing our money into any of the crypto currency or in dealing with the things related to it. The entire concept of the crypto currencies will be killed. April 25, 2018, 11:42:46 PM
if there is no electricity the world of commerce are just paralyzed not only bitcoin but all of us,imagine how can we survive if there's no power.There will be a mass impact to human race.So bitcoin will become useless for that.
April 25, 2018, 11:33:06 PM
If there's a natural disaster cutting off electricity for days, trading bitcoin should be least of your worries really. Priorities man.
sorry I meant to say, how does one trade with BTC
ie. how does one buy food/water with BTC in such circumstances if BTC is the most preferred currency for trade (like Venezuela)
The simple answer is: you don't.
For a transaction to be validated you need to send it over the network. And this needs electricity and connection.
Normally at least the sender and recipient's phone would work (again: electricity and connection)
If this minimum requirement is not met, you're out of luck.
A different approach would be to have with yourself a number of paper wallets and had over the actual wallet. But that needs a super-high level of trust between you and the other part, since you can hand out empty paper wallets or just empty them at a short time later. Or give the same wallet to many others... This idea has far too many issues to be a good solution...
We can't move forward, because nowadays electricity is very important in terms of all aspect especially in our gadgets. We can't trade our bitcoin unless we have solar.
April 25, 2018, 11:07:19 PM
If there's a natural disaster cutting off electricity for days, trading bitcoin should be least of your worries really. Priorities man.
sorry I meant to say, how does one trade with BTC
ie. how does one buy food/water with BTC in such circumstances if BTC is the most preferred currency for trade (like Venezuela)
The simple answer is: you don't.
For a transaction to be validated you need to send it over the network. And this needs electricity and connection.
Normally at least the sender and recipient's phone would work (again: electricity and connection)
If this minimum requirement is not met, you're out of luck.
A different approach would be to have with yourself a number of paper wallets and had over the actual wallet. But that needs a super-high level of trust between you and the other part, since you can hand out empty paper wallets or just empty them at a short time later. Or give the same wallet to many others... This idea has far too many issues to be a good solution...
April 25, 2018, 06:51:52 PM
having no electricity is a crisis for all crypto because all devices are relying heavily on electricity to have power plus the miners cannot process transactions without electricity asic and video cards need also electricity to run also the internet the sudden disapperance of electricity is like cutting the connections of each countries and without internet the people cannot send transactions.
April 25, 2018, 06:39:05 PM
Will, definitely you can't trade or do anything in a digital worlds if your offline (not digital). 
That is why in my opinion, existence of digital money and traditional currency (fiat) is the best option for the economy to cover all areas and all walks of life and situation. But please, keep the light open. 
That is why in my opinion, existence of digital money and traditional currency (fiat) is the best option for the economy to cover all areas and all walks of life and situation. But please, keep the light open. 
April 25, 2018, 06:11:19 PM
if there is no electricity is certain and it is very clear the internet will not be able to live and bitcoin will never be created, therefore the most important thing now is the power source, therefore now there are many electrical options that you can use.
April 25, 2018, 05:46:35 PM
We hear in the news that many people in countries that have currency issues are starting to trade in BTC - for example, Venezula.
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?
this is what makes Elon Musk create SolarCity and Mark Zuck create unmanned aircraft that can stream the internet even to a remote country.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?
so the often-affected country can still enjoy electricity and internet without having to rely on state-owned power plants and provider in their country, so the countries can still enjoy the flow of electricity and internet...
and if both their projects are successful then we will not worry trading Bitcoin in any condition, that's the future.
And wonder, how much do you think about creating so meaningless threads?
April 25, 2018, 05:31:28 PM
Without electricity maybe BTC will not be born in this world. Instead of the other types of business, they can make you more profit than BTC. But I still think we are lucky when the organizers are created, they help more people in this world have a happier life.
April 25, 2018, 05:28:51 PM
In that situation it will not be possible to do any trade. But banks will be paralyzed as well.
April 25, 2018, 05:21:30 PM
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?
There will be no block chain to exist and cryptocurrency will not be popular just the same sa today so internet is mandatory in order to have different transactions to another end user.
April 25, 2018, 05:16:16 PM
If we imagine that humanity will remain without electricity for a long time, the consequences of such a catastrophe can not be predicted. We became so dependent on infrastructure that the world could no longer exist without it. In this scenario, people will rather worry about marauding than bitcoin transactions.
April 25, 2018, 04:34:21 PM
Obviously there no bitcoin. We all know that number one requirements of bitcoin is electricity. You cant do a transaction without electricity
April 25, 2018, 04:22:25 PM
We hear in the news that many people in countries that have currency issues are starting to trade in BTC - for example, Venezula.
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?
this is what makes Elon Musk create SolarCity and Mark Zuck create unmanned aircraft that can stream the internet even to a remote country.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?
so the often-affected country can still enjoy electricity and internet without having to rely on state-owned power plants and provider in their country, so the countries can still enjoy the flow of electricity and internet...
and if both their projects are successful then we will not worry trading Bitcoin in any condition, that's the future.
April 25, 2018, 03:40:11 PM
In countries like venezuela, should establish a vast tower at a hight so that even during disaster needy one can get them back
April 25, 2018, 02:32:51 PM
If there is no electricity in that area , that cause inconvinience to the holders of bitcoin ,the bitcoin must find a way to produce some way to make bitcoin holder to continue to trade their BTC, if power is badly needed in order to continue working in the area with no electricity, one source of power maybe the solar power as one source of electricity.
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