What happens when there is NO electricity? How does one trade with BTC? - page 23.

ocid

sr. member

Activity: 588

Merit: 256

Quote from: naidray on March 02, 2018, 11:51:51 AM

Quote from: Beymax08 on February 28, 2018, 07:42:33 PM

If theres no electricity? There are some alternative to have a power supply it can be with generator, solar panel or powerbank. More importantly you have a internet connection so you can trade. Thats two important factor(internet connection and electricity) so you can have transactions to others.

I do not even understand the reason why the OP would be asking that question in the first place since he already knows the answer to it. Let's even leave BTC aside, how will he ever be able to even trade anything, including Forex, stocks or whatsoever. As long as the digital age is concerned, if you do not have electricity and no internet access, then such a person is still living in the old age.

Quote from: vidprab5 on March 01, 2018, 03:02:45 AM

In case there remains no electricity in this world, then it will not be only trading of crypto currencies which will get affected by this. In fact there will be number of other things as well which will suffer in case we don’t have electricity. Without electricity, we cannot even think of doing anything with any of our crypto coin as it is not possible to buy or sell any coin without internet and electricity.

I cannot even imagine a day without electricity and from all the things I see in the news, I wonder how some of the people without electricity cope in this present age when everything has gone digital. There is no asking too much question or giving a lot of answers to this, no electricity, then nothing! It is more like trying to go to erect a building without tools, how is that possible?

Of course, electricity is a major triggering factor for doing all transaction activity on crypto, if the power source goes out or nothing at all, the transaction activity will not work because crypto is basically a blockchain technology that can be used by the internet network. If the electricity does not exist, of course we will not be able to connect with the Internet network.

naidray

legendary

Activity: 1232

Merit: 1029

Quote from: Beymax08 on February 28, 2018, 07:42:33 PM

If theres no electricity? There are some alternative to have a power supply it can be with generator, solar panel or powerbank. More importantly you have a internet connection so you can trade. Thats two important factor(internet connection and electricity) so you can have transactions to others.

I do not even understand the reason why the OP would be asking that question in the first place since he already knows the answer to it. Let's even leave BTC aside, how will he ever be able to even trade anything, including Forex, stocks or whatsoever. As long as the digital age is concerned, if you do not have electricity and no internet access, then such a person is still living in the old age.

Quote from: vidprab5 on March 01, 2018, 03:02:45 AM

In case there remains no electricity in this world, then it will not be only trading of crypto currencies which will get affected by this. In fact there will be number of other things as well which will suffer in case we don’t have electricity. Without electricity, we cannot even think of doing anything with any of our crypto coin as it is not possible to buy or sell any coin without internet and electricity.

I cannot even imagine a day without electricity and from all the things I see in the news, I wonder how some of the people without electricity cope in this present age when everything has gone digital. There is no asking too much question or giving a lot of answers to this, no electricity, then nothing! It is more like trying to go to erect a building without tools, how is that possible?

semobo

full member

Activity: 1498

Merit: 146

Quote from: 0t3p0t on March 01, 2018, 07:26:17 AM

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?

Power outage nowadays is not a problem anymore due to renewable energy, automotive batteries and power generators where local or international businesses either online or offline transactions all over the world is accessible even if restoration will lasts for atleast 3-5 months. The only thing that can affect much is the signal for 3G/4G/LTE or any internet connections we are connected most especially if towers are heavily damaged.

As per the OP how to trade BTC if there is natural disasters,I don't think it is possible even if we have mobile because the mobile network will not work if there is high disaster condition at that time cryotocurrency has no use.But the cryotocurrency can never replace full the fiat system at that time we can use fiat to buy the things which is immediately need to so we also have to keep fiat money always in hand.

spyerf

full member

Activity: 378

Merit: 103

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?

It is very difficult, because we know that bitcoin can only be accessed through internet connection and electricity. and such problems are the disadvantages of bitcoin. Perhaps one day experts will find a solution.

syaripudin

sr. member

Activity: 672

Merit: 253

CryptoTalk.Org - Get Paid for every Post!

In such situations the first thing you should do is to prioritize all your efforts to save your family. Temporarily forget all your business transactions with internet connection difficulties for any reason, family safety should be your priority. Once prioritized things that can be solved then you think of things that are beyond priority and among other things how to improve the internet network system is electricity to be one of the supporters who must keep running.

0t3p0t

sr. member

Activity: 1736

Merit: 357

Peace be with you!

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?

Power outage nowadays is not a problem anymore due to renewable energy, automotive batteries and power generators where local or international businesses either online or offline transactions all over the world is accessible even if restoration will lasts for atleast 3-5 months. The only thing that can affect much is the signal for 3G/4G/LTE or any internet connections we are connected most especially if towers are heavily damaged.

sp01_cardo

sr. member

Activity: 331

Merit: 250

Personal Text: Blockchain with a Purpose

When there is no electricity and no internet connection you can not trade and you can not make any transactions. We need a gadget to use and internet to have an access and make transactions with other.

lingwistiko

member

Activity: 322

Merit: 10

╔►[FILIPINO Translator]◄╝

It's the world that we live will be the one to be affected first if there is no electricity. Being used to live with electricity, imagine living life without it this time. As to cryptoworld, without electricity, it will cripple and eventually die.

beezare

full member

Activity: 392

Merit: 100

I think if there is no electricity then you can access bitcoin using mobile phone with cellular network but if the electricity in the provider also experience interference then also can not do trading or transactions in bitcoin because it takes the internet to login

v0rtecxz

sr. member

Activity: 406

Merit: 251

if there is a problem that occurs in energy resources such as electricity, problems such as, of course, will cripple the facility associated with electricity, of course, the impact on the network you use as a link to the internet, network distribution requires power to work, if electricity as energy experiencing problems then there is nothing you can do to be able to access the internet, of course you can not do anything related in the internet like doing some transactions or doing trade,

ObscurePen

sr. member

Activity: 385

Merit: 266

There is a thing called the paper wallet and it can work as a way of taunt online. A paper wallet is pretty much a wallet with the private keys to your Bitcoin address written on it. A paper wallet may be as simple as a piece of paper with the private keys on it. However this is not an efficient and smart way of trading Bitcoin as you can't conveniently choose as to what amount of Bitcoin that you want to give to a person. Without a network Bitcoin is pretty much useless , to be honest.

Lyne01

member

Activity: 224

Merit: 10

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?

Trading without electricity is possible. You can use your charged laptop and use your broadband wifi or internet. However, this will only be in limited time. Also, you can use your phone but most exchanges are not compatible with smartphones. It is difficult to trade using your phone. If still wnat to trade, you can buy your own generator.

jaylhynne018

member

Activity: 196

Merit: 10

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 think if no electricity no body can be with bitcoin because bitcoin is the main source of his life is electricity and internet so if that gonna happen we all users gonna die!

budakjawa

member

Activity: 471

Merit: 10

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?

if no electricity of course will not be created bitcoin and for bitcoin transactions obviously can not because there is no electricity, everything requires electricity.

Carlsen

hero member

Activity: 910

Merit: 501

I suppose when we have no electricity the gold owners will say something like: 'I told you so!'.
Without electricity we have no access to bitcoin, it is that simple. So there is no trading.
But I think that having no electricity must have a reason, and I rather don't want to find out what reason that could be.

Bluecore

newbie

Activity: 41

Merit: 0

As others have said in this case, Bitcoin will be least of your worries.
To answer your question though; any short-term power outage will not affect Bitcoin's usability for long after the power comes back. Miners will start mining pretty soon after power returns. The mining difficulty may decrease if it takes some major players longer than others to get their miners back online. As long as you are connected to the Bitcoin network, and miners are mining, you should be all good to go.

vidprab5

member

Activity: 222

Merit: 11

Create Your Decentralized Life

Quote from: gamalzour on February 28, 2018, 09:29:47 AM

Quote from: neonshium on February 27, 2018, 01:50:31 AM

Quote from: jbarcenas18 on February 25, 2018, 02:17:40 AM

Quote from: Hamphser on September 28, 2017, 10:41:29 AM

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.

You wont really bother or to problem this thing first when theres an electricity outage for sure you would find to secure first your family,loved ones on how to live without electricity rather than minding on how you would able to trade with bitcoins. This is just really a non sense question after all because not only bitcoin trading would be affected but all the things which been powered by electricity would be gone too.Imagine a life without energy for sure you would struggle on daily living knowing that we are already living on this convenient world because of gadgets or things which uses electricity.If its gone then were fucked up.

I agreed with your opinion, that's the best thing to do incase no electrcity, they can't do nothing but to secure his family first.

Do not mind my words fellow and try to get my point. In order to live, we need air, water, food, clothes and at last shelter. Electricity does not come in any of the basic needs.

If there won’t be any electricity that does not mean the family will die out but in case of bitcoin rather whole of the cyber world, it will come to an end and that is really painful even when imagining. Without electricity, everything that needs battery or charging will be gone.

In this era of modern technology, electricity is also one of the basic needs and there is no way that we can survive without having electricity. In case, there remains no electricity in this world, then things will be very much difficult for us to manage especially when it comes to that of crypto currencies as we do need to have an electricity and internet connection in order to perform transactions.

In case there remains no electricity in this world, then it will not be only trading of crypto currencies which will get affected by this. In fact there will be number of other things as well which will suffer in case we don’t have electricity. Without electricity, we cannot even think of doing anything with any of our crypto coin as it is not possible to buy or sell any coin without internet and electricity.

Beymax08

member

Activity: 130

Merit: 10

If theres no electricity? There are some alternative to have a power supply it can be with generator, solar panel or powerbank. More importantly you have a internet connection so you can trade. Thats two important factor(internet connection and electricity) so you can have transactions to others.

Clavulanic

sr. member

Activity: 714

Merit: 250

Quote from: Hamphser on February 28, 2018, 03:30:11 PM

Quote from: Finestream on February 28, 2018, 02:44:35 PM

Quote from: ikipiye on February 28, 2018, 02:13:17 PM

I also imagine this, we know that this bitcoin requires internet access, I think it can paralyze all the bitcoin transactions. Maybe it's better to wait for the electricity to recover.

Yes for sure.We can't make our trading transactions successful unless we cannot provide electricity,then internet connections could also be gone.If we have prepared some generators for it,maybe we can.But in some urban or even rural areas who has poor access to internet,then all internet transactions will be all paralyzed.

In doing trading not only just on bitcoin alone.There are 2 major factors for you in able to do such thing which is the most important (internet access, electricity) lacking even one of these things will really not work generally.Not only paralyzing the trading activity but there would be lots of thing to be mainly affected or even the entire economy of a certain place that do experience blackout.

That's pretty bad if there's no electricity at all because that is the means of source to access everything on the internet. However, there is a need of back up or a life saver just to continue such as generator,rechargable battery for any gadgets like pocket wifi,mobile phones and etc. Through these,it could still be possible to trade with BTC. But if it is totally a blackout then that's something too difficult to handle in trading because even the telecommunication companies will experience the same thing. We can't access at all so it's better to have back ups when it is just a typical case for having no electricity.

September11Myth

full member

Activity: 387

Merit: 106

You could host a little electrical generator at home to switch on when you are without electricity and you have the sudden need to trade bitcoins. If you connect the generator to a cyclette you can even make some sport while you trade.

Topic: What happens when there is NO electricity? How does one trade with BTC? - page 23. (Read 3132 times)