Everything done on the blockchain is facilitated by the internet so I will say in case there's no electricity to provide internet, transactions cannot happen. Hence, trading will not work as well. Remember everything(from sending, mining to receiving) is facilitated by electricity
Most of the things are facilitated by electricity even the appliances at home and machines that being use in the industry. Like those things, they cannot work without it 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. 
Topic: What happens when there is NO electricity? How does one trade with BTC? - page 25. (Read 3107 times)
February 24, 2018, 11:45:54 PM
February 24, 2018, 09:07:13 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?
Everyone should start using solar charges for their smartphones/other devices and use currencies like BlueCoin. BlueCoin payments are made via bluetooth.
Mesh network may provide the solution
February 24, 2018, 08:53:24 PM
If there's a natural disaster cutting off electricity for days, trading bitcoin should be least of your worries really. Priorities man.
Yeah youre right if theres no electricity theirs no cryptocurrency because it was dependance of an internet connection.If thos will happen then you have a lot of income already I must prepared taht you buy a generator so that in case of emergency your transaction and internet connection will be secured. February 24, 2018, 07:55:27 PM
Well, it's true that bitcoin can't work without electricity, but neither the bank system could.
Actually, if tonight electricity suddenly stopped, I'm pretty sure that there will be a LOT of trouble in every field.
But, actually, as bitcoin can work just by the phone, paradoxically it's more resistant than banks!
Actually, if tonight electricity suddenly stopped, I'm pretty sure that there will be a LOT of trouble in every field.
But, actually, as bitcoin can work just by the phone, paradoxically it's more resistant than banks!
February 24, 2018, 01:16:36 PM
If there's a natural disaster cutting off electricity for days, trading bitcoin should be least of your worries really. Priorities man.
If bitcoin is where your money is stored, which many people want bitcoin to replace fiat, then this is of the utmost concern. Fact remains that without electricity, Bitcoin cannot function. There is no analog system whereas fiat as physical currency. Bitcoin only exists in the blockchain, and the ability to move the btc is ownership of the btc. Bitcoin is not a suitable currency during natural disasters, which you can add to a very long list of why it's not a suitable replacement for fiat.
February 24, 2018, 12:23:22 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?
I think without the electricity, it would be very hard for us to trasact with bitcoin. Electricity is the main source of bitcoin tracsactions and without it, internet wouldn't also work. Our mobile phones will work for it but it would have it's limit without the help of electricity. However, it would just affect us due to natural disasters.
February 24, 2018, 10:35:06 AM
Bitcoin is a virtual currency and not physical, so if you don't have internet access or electricity, that would support your pcs, mobile phones, or whatever it is that you would be using to run a wallet, you wouldn't be able to make payments using bitcoin. I don't think that is a problem though, because you must understand that if basic needs like power and water are missing, then bitcoin would be in the least of their concerns at that time.
February 24, 2018, 09:34:40 AM
What happens when there is NO electricity? The answer is end of cryptocurrency. There is no means of any transaction, you can't do a peer to peer trade, and most importantly you cant do an online transaction. So goodbye Bitcoin and Altcoin if that happens price will surely dropped. But it can only happen if there is major catastrophe.
February 24, 2018, 09:27:43 AM
Having no electricity is big crisis that you can face with bitcoin. We all know that bitcoin is a digital currency and you can only access it with internet, but electricity is essential because without electricity there's no internet and if you don't have internet ofcourse you cannot access bitcoin. So sad to say that without electricitt there's no trading will happen.
January 10, 2018, 02:20:33 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.
December 27, 2017, 08:33:11 AM
Mike Maloney did a video on this exact situation titled Bitcoin In A Disaster Scenario - Cash & Gold King In Hurricane Maria https://www.youtube.com/watch?v=GjzeFOKUR04
We don't have to wonder how things would work because these people recently went through it! One of the things I got from the video is the fallback to gold and silver coins in an emergency. They were one of the only things that held purchasing power. The guy even had to sell a $1,000 surf board for pennies on the dollar! Also, keep in mind that power outages don't mean completely no electricity. There are ways to get local power such as batteries and generators which can supply power for days until things get back to normal. The main problem is having no Internet.
We don't have to wonder how things would work because these people recently went through it! One of the things I got from the video is the fallback to gold and silver coins in an emergency. They were one of the only things that held purchasing power. The guy even had to sell a $1,000 surf board for pennies on the dollar! Also, keep in mind that power outages don't mean completely no electricity. There are ways to get local power such as batteries and generators which can supply power for days until things get back to normal. The main problem is having no Internet.
December 27, 2017, 06:08:30 AM
Trading will only happen if you have both internet and electricity or a battery in your phone for that matter. But if in your place the electricity is cut off, i guess trading is not your main problem but how to survive the night or days without electricity. Trading will always be present and will never ran away but one should set its priorities first.
December 27, 2017, 06:03:46 AM
As we all know that in addition to the internet network, electricity is one of the important elements for the use of Bitcoin. And if there is a power outage, everything that has to do with Bitcoin will be disrupted, everything will be messed up and all transactions will be delayed and even disconnected.
December 27, 2017, 05:58:25 AM
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...
This is a pretty obvious question, internet connection, computer and mobile phones are all electric powered without electricity there will be no digital devices that is running digital software and there will be no digital currency. Lets assume that we are leaving in 2030 ang then BTC or some altcoin is the means of payment.
And then some devastating phenomenon occured.
This is a problem right? Because internet connection is down and power connection is no more, like what happened to Haiti people wont settle for transactions if that happens, and if you are not aware, government have already some plan when a strange like phonomena like that will happen and the people?
Just like this guy have wrote:
If there's a natural disaster cutting off electricity for days, trading bitcoin should be least of your worries really. Priorities man.
Im wondering what type of government will let its people scratch their head because there is no means of transaction and what type of people will scratch their heads because there are no power. A disaster that can cut the whole power of a country is a life and death situation, so I dont think I will be problematic on BTC when that happens.
December 27, 2017, 05:57:07 AM
That's the good topic, really. The answer to those who ask if bitcoin will replace fiat currency soon. If we chose to be dependant on the technologies, we must be prepared that something like that can happen anytime. And that's when humanity steps up.
December 27, 2017, 05:53:47 AM
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)
December 27, 2017, 05:44:11 AM
I don't think if its possible to have no electricity, as we are in the new generation having many gadgets and high technology appliances the business in our surroundings were powered by electricity. Since you talk about No Electricity like all transmission lines is totally shut down, well it looks like a very miserable situation, for sure many people will find a way just to have electricity.
Today, the mind of many people have enough knowledge due to the internet by gaining their knowledge and learn something new. Most of us will think an alternative power source such as solar energy, wind energy and hydro power energy. Having this different source of energy for sure all components like computer and cellphone will totally used and trading process with bitcoin will be provided.
Today, the mind of many people have enough knowledge due to the internet by gaining their knowledge and learn something new. Most of us will think an alternative power source such as solar energy, wind energy and hydro power energy. Having this different source of energy for sure all components like computer and cellphone will totally used and trading process with bitcoin will be provided.
December 27, 2017, 05:21:49 AM
We are using internet through mobile phones and laptops to access blockchain. We all know that electricity is the main sources of technology. Therefore, if there will be no electricity then we cannot access blockchain. If it happens then it means that you cannot trade as well.
December 27, 2017, 03:56:16 AM
Our computers/android phones who are powered by electricity are the tools that we used to access the blockchain with the help of Internet connection. So based on your scenario, it's very obvious that you cannot do any transactions or could even access your digital wallet because a natural disaster shuts down the power generation and communication services of that particular area.
All you can do is to have patience and keep waiting until the authorities fixed the damaged power plants and cell sites.
All you can do is to have patience and keep waiting until the authorities fixed the damaged power plants and cell sites.
December 27, 2017, 02:55:54 AM
Everything done on the blockchain is facilitated by the internet so I will say in case there's no electricity to provide internet, transactions cannot happen. Hence, trading will not work as well. Remember everything(from sending, mining to receiving) is facilitated by electricity
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