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.
Topic: What happens when there is NO electricity? How does one trade with BTC? - page 24. (Read 3107 times)
February 28, 2018, 04:30:11 PM
February 28, 2018, 04:14:19 PM
All our gadgets used in being active with bitcoin are powered with electricity. Therefore, trading is not possible. Without electricity there is no way for us to access internet. So why would we waste our time in trading if from the very beginning we already know that it will never go through without electricity.
February 28, 2018, 04:11:04 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.
Off-chain trust based transactions don't require internet or power at all. In these situations you are basically exchanging private keys containing a certain amount of coins that you can later sweep to actually secure the coins (i.e. make sure you're the sole owner). In order to make the process of exchanging private keys easier and more durable, you could even use physical coins that are loaded with a certain amount of coins. The only downside of this is that as I mentioned before, it's trust based to the highest degree, which means that if I deliver you certain goods in exchange for 1 BTC, I have to trust you to actually give me a private key containing that amount of Bitcoin. It requires me to expose myself to an insane amount of risk, but what's the alternative if the aforementioned is the only option?
February 28, 2018, 03:44:35 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. February 28, 2018, 03:13:17 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.
February 28, 2018, 12:35:36 PM
Well in my opinion, if the situation is a natural disaster that caused the power outage then you cannot trade you Bitcoins, as if it will be part of your priorities or concerns during times like those. But if it just a usual power outage on your area then you can just find a place where in you can have power and internet to access your Bitcoin and do the trading or just wait for it to go back up.
February 28, 2018, 11:03:49 AM
Bitcoin is product of internet technology that all depends on what is called electricity. Of course if no electricity, then all things related can't operate including bitcoin.
February 28, 2018, 10:41:32 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.
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.
It is indeed impossible for any cryptos to be operated. We cannot do anything if we do not have electricty. Internet connections are connected with electricity so it is definitely impossible. And the reason why bitcoin and other alt coins are called crypto or digital currencies it is because they are currencies exexuted online.
February 28, 2018, 10:29:47 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.
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.
February 27, 2018, 07:00:17 AM
If there is no electricity and your devices go down, you have no choice but to drop everything and quietly go to sleep lol. That’s the truth. Bitcoin is being powered by electricity (everything that has to do with Bitcoin). Mining is powered by electricity, for you to send and receive Bitcoin you will need a device whether computer or smartphone which are all being powered by electricity.
You see, there is no way to do all those stuffs without the help of electricity. Even if you want to keep them in paper wallets, electricity will play some part in carrying the work.
You see, there is no way to do all those stuffs without the help of electricity. Even if you want to keep them in paper wallets, electricity will play some part in carrying the work.
February 27, 2018, 02:50:31 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.
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.
February 26, 2018, 12:52:09 PM
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. Cryptocurrency is also based on the Internet and we really need Electricity to access this type of currency.
February 26, 2018, 12:28:48 PM
If there is no electricity then you have bigger things to worry about than having access to your Bitcoin. Most people don't have immediate access to more than $200 anyways. I personally only carry maybe $35 cash and I never use it.
Well there are a lot of ways to be able to access electricity nowadays if we just utilize alternatives like solar charging. The internet where btc runs is through electricity so obviously it will cease without it
February 25, 2018, 06:59:28 AM
As Bitcoin is based on the blockchain technology which relies on the decentralization principle, the core value of it states that transparency should be the first priority that means everyone from every corner of the world should be aware of each and every transaction happening with Bitcoin. Thus, it doesn't make any sense to use Bitcoin privately and I don't see any possibility of using Bitcoin without electricity and internet connectivity, there must be any source of electricity and internet in order to use Bitcoin. That's the way we live and the case is not different for the fiat currencies too.
* Report: Massive Internet Disruption Costing Somalia $10M a Day.
* Report: Massive Internet Disruption Costing Somalia $10M a Day.
February 25, 2018, 06:41:30 AM
If there is no electricity I think we cannot focus on trading with btc in that situation because by that time our priority will be the basic estwm needs of our family or all of us. Which is the water the food to eat. And shelter. We can still live without electricity that loving without food and water.
February 25, 2018, 04:24:37 AM
Then no one will ever gonna trade cryptocurrencies. The Internet is essential in crypto world, without it we cannot connect to other people across the world. Also, electricity is as essential as the internet. Without electricity then no internet. And no trade at all.
February 25, 2018, 03:48:15 AM
Transactions on the blockchain simply won't be possible in such dire situations where there is no electricity, also means no Internet. Therefore, I think fiat currency will always be around in case such situations where the blockchain can't be accessed arises.
Yes youre right that if no electricity every transaction made will officially stop.Cryptocurrency is independent to the electricity its because of online internet concept and we dont have have to control this one. February 25, 2018, 03:17:40 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.
February 25, 2018, 01:39:54 AM
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. and we cannot trade with bitcoin since bitcoin needed an internet connection to make people stay connected to the network and I think bitcoin itself is not introduced to people.
February 25, 2018, 01:23:04 AM
Since you need an internet connection, a cellphone or any smart devices to log in to your account, and you also want to trade using bitcoin and there's no electricity or connection, the trade is not valid. Since the prefferred payment is btc, and it cannot be used, you can just use some tangible money right? If you want something more complicated, then maybe go to other places with electricity and connection to withdraw money so you can spare the hassle of bitcoin trade when you don't have connection and electricity.
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