Topic: What happens when there is NO electricity? How does one trade with BTC? - page 28. (Read 3107 times)
September 29, 2017, 01:14:11 PM
This is one of the biggest drawback of bitcoin and trading. No electricity means everything stops, You just simply can't access to the world what is bigger problem then no electricity is no Internet, government has the full right to stop the internet service under National Security and then you will be kept away from your money and trading and it can cause great loss to one's wealth. New technology have great advantages but also come with drawbacks with them.
September 29, 2017, 01:04:07 PM
Do you mean all the world run out of power at the same time ? if so none of us can run his computer or open btc wallet because everything will stop banks and government institution . but if you mean at specific part of the world someone else on the other part will enjoy mining alone .
September 29, 2017, 12:56:51 PM
When there would be no reliable supply of electricity then everything would stop and this is quite true with any type of business involving power. Now, this is really of the common sense...how can you open your gadgets if there would be no power? Trading and anything else have to stop for the while and should wait when the power can be back or get power from the sun as solar electricity is now also popular all over the world...we can use this during the times of difficulties like natural disasters where electric can be cut-off for days or weeks.
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September 29, 2017, 12:37:34 PM
In a place where there is no electricity there's no means to use the internet and to mining or trade bitcoin you need a nice internet server along with stable electricity in other to know the price chart movement. Meanwhile, there's no way for a country who don't have electricity will trade bitcoin because they will be left behind.
September 29, 2017, 09:12:28 AM
Unfortunately, without the Internet and electrification, bitcoin can not be traded or even simply used. You can do this from the phone, if it has enough charge for work.
September 29, 2017, 09:07:05 AM
If there is no electricity then it means that there will be no possible trade or transaction with bitcoin because it can be all done with the internet and internet needs electricity and bitcoin will become useless because of having no power in the covered area. Bitcoin is not always a good money because it has a downfall and that is, only depending on the electricity and having no capabilities to be used offline.
September 29, 2017, 06:31:29 AM
It's simple, to make a Bitcoin transaction you need electricity and Internet access. If one of those is missing you will not be able to send or recieve Bitcoin.
But, such think is so rare, So, have no worry, and if it happens, maybe due to natural disaster, that will not last forever and everything will be fixed soon.
Not only Bitcoin can be affected, but all online deals even credit card payments, but no one gave up paying with credit card because he fears the loss of electricity.
But, such think is so rare, So, have no worry, and if it happens, maybe due to natural disaster, that will not last forever and everything will be fixed soon.
Not only Bitcoin can be affected, but all online deals even credit card payments, but no one gave up paying with credit card because he fears the loss of electricity.
September 29, 2017, 05:36:00 AM
If you have battery on phones then you can use it as long as battery does not run out. However if totally electricity is cut of then it is not possible to access the internet and hence bitcoin payments and the internet will be stopped in that area while the other parts of the world still function normally.
I do not see the reason why such a thread needs to made, are you lacking in common sense or are you trying to spam the forum for your signature?
If you have learnt how bitcoin works and how the payments are processed, then you would not have to make this thread about it just to increase your post count.
I do not see the reason why such a thread needs to made, are you lacking in common sense or are you trying to spam the forum for your signature?
If you have learnt how bitcoin works and how the payments are processed, then you would not have to make this thread about it just to increase your post count.
September 29, 2017, 04:57:18 AM
For temporary you can used your mobile data but your phone also need electricity, so in the end you can't do any transactions and you won't be able to used Bitcoin at all, because Bitcoin is a digital currency so it need internet and internet need electricity
September 29, 2017, 03:27:33 AM
For a transaction to happen in bitcoin there must be an electricity and internet. You can not buy and sell goods and services without internet and electricity. I think There will ever been away out as many people are developing one technology to resolve limitations especially most of the issues we are facing now concerned electricity as human activities revolves around it. Should we face electricity problem I think one should use solar power.
September 29, 2017, 03:10:20 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?
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 we know that bitcoin need internet and electricity and if there is no electricity and internet available, then bitcoin can not be use to exchange into fiat. if the tower have generator which can send electricity and can transmit the data for 4g/lte then maybe he can used bitcoin to make transaction (i said maybe). i remember on die hard 4, which everything is gone including electricity but there are any data plan such an internet connection which can connect to cellular phones, we can still using the phone to communicate. but maybe i am wrong so i am sorry for this.
September 29, 2017, 03:07:05 AM
I wonder what op really wants to be told or hear. Is it the way you want to live your life without electricity? I mean do the needful as to what other people do when electricity is gone. As for trading or signing into internet even for trading, look for means to power your gadgets otherwise you wait till electricity is restored.
OP better not to overthink things, yes it might happen and I think the answer is more obvious than the moon.
If we don't have electricity, we can't trade, of course we can't use our desktop and we can use our phones but in very limited time. And I think you'll not die when you didn't trade in a couple of days.
It's more to have an answer for friends who are interested in investing but have these concerns as well.
I was wondering if there are more efforts in minting bitcoins into physical coins, maybe that might be a solution.
September 29, 2017, 12:34:57 AM
I wonder what op really wants to be told or hear. Is it the way you want to live your life without electricity? I mean do the needful as to what other people do when electricity is gone. As for trading or signing into internet even for trading, look for means to power your gadgets otherwise you wait till electricity is restored.
OP better not to overthink things, yes it might happen and I think the answer is more obvious than the moon.
If we don't have electricity, we can't trade, of course we can't use our desktop and we can use our phones but in very limited time. And I think you'll not die when you didn't trade in a couple of days.
September 28, 2017, 11:06:23 PM
Why do people ask these ridiculous questions? The world runs on electricity, it is not just going to shut off across the whole world. If it does in some parts then fine, the part that works will pick up the slack.
September 28, 2017, 08:35:03 PM
Perhaps an emergency gasoline powered generator would work? Or maybe a solar power unit? Either of these would give you power to charge up/operate devices. Next, you would need connection to internet/phone/wi-fi service.
Anyways that can supply electricity will be beneficial, since without electricity it will be impossible to do so , cryptos were made for online transactions and energy is much neede.
September 28, 2017, 08:15:32 PM
Perhaps an emergency gasoline powered generator would work? Or maybe a solar power unit? Either of these would give you power to charge up/operate devices. Next, you would need connection to internet/phone/wi-fi service.
September 28, 2017, 06:28:50 PM
I think only those minimal city will don't have electricity not that whole country right because if you say so then i think no one will do tradings and yet we are all in living in the high technology where people are becoming lazy we are in new generation where people can use alternative power source or machine generator. But some happens that people are doing p2p.
September 28, 2017, 06:27:49 PM
If this were the case, then one wouldn't have access to bitcoin because electricity is needed for you to transact, much less to trade bitcoin. Even if it is a preferred currency in the area, then they won't be able to use bitcoin if there is no electricity. There's no alternative way or other way around when electricity is not available - cryptocurrencies and bitcoin would simply not exist.
September 28, 2017, 06:15:45 PM
If there's a natural disaster cutting off electricity for days, trading bitcoin should be least of your worries really. Priorities man.
That's the hard truth right there.. In times like that if it happen bitcoin/money will be just an ordinary paper and trash.. Specially when everyone is looting around for anything they needs without a need to payed.. It is a sad moment and we can't blamed them for human instincts is survival.. If electricity will be gone for a year all around the world..
September 28, 2017, 06:11:28 PM
Yeah it has been answered before, without electricity there is not cryptocurrencies, because it is a digital thing, and digital things runs with electricity. I can not imagine a world without energy, it would be a chaos, no smartphones, no technologies, omg.. i can not imagine it. and trading would be impossible, because all trading exchanges for cryptos are on the internet, it can not be physically since we would not have access to our wallets.
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