What happens when there is NO electricity? How does one trade with BTC? - page 4.

Bumblecoin

newbie

Activity: 196

Merit: 0

Quote from: solve_it on September 28, 2017, 10:58:58 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 if that will be the case. Without electricity, makes almost all things in this planet very hard to deal with, example transportation, food production and other important daily activities.

BlackBeauty

member

Activity: 308

Merit: 10

Quote from: intoy_victor on June 08, 2018, 07:11:11 PM

All you have to do is wait for the power to comeback because as we all know, bitcoins are transferred through internet with the use of mobile phones, laptops, computers and other device capable of using internet. And take note without electricity, these devices wont work so in short you cant UNLESS one person allows you to pay when the electricity comes back. Now it looks like a debt that you should pay.

I think today is everywhere electricity and if any where no electricity so i think there will no anybody live but if any place and their people are live without electricity so they can buy any source for making of electricity and then they can trading in bitcoin but if there place in loudsheding problem so they can use mobile data and that's why earn a lot of money from bitcoin.

Chooroz

full member

Activity: 392

Merit: 100

Quote from: PonyBoy on June 08, 2018, 04:31:28 AM

I see that if there is no electricity at all, the transaction of cryptos wouldn't been happen, this means that no trading in bitcoin

For me when there is no electricity we can not do trading, because electricity is very important in this world specially here in cryptoworld because when there is no electrcity there will also no internet and when there is no internet we can not able to do trading.

intoy_victor

member

Activity: 266

Merit: 16

All you have to do is wait for the power to comeback because as we all know, bitcoins are transferred through internet with the use of mobile phones, laptops, computers and other device capable of using internet. And take note without electricity, these devices wont work so in short you cant UNLESS one person allows you to pay when the electricity comes back. Now it looks like a debt that you should pay.

mjloulie

newbie

Activity: 147

Merit: 0

Btc trading transactions can be cancelled once there is no electricity unless there is a generator to replace the electricity. Elwctricity is the main source of any digital transaction one of that is the internet. How can you operate a single computer without an electricity? There is no way right? Electricity is importsnt in any digital transaction

goodvibes05

member

Activity: 252

Merit: 10

Quote from: solve_it on September 28, 2017, 10:58:58 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?

Electricity is important in cryptocurrency transactions so there is no way you can transact without electricity. Trading companies were able to continue their business even without electricity with the help of generators. But with the kind of situation like that I think many people will prioritize what is more important, that is to be safe and to be able to live a normal life despite the situation.

PonyBoy

full member

Activity: 313

Merit: 100

I see that if there is no electricity at all, the transaction of cryptos wouldn't been happen, this means that no trading in bitcoin

andriarto

sr. member

Activity: 1344

Merit: 253

Quote from: ?? on ??

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.

to transfer bitcoin we need a browser, internet network, and electricity. if one does not exist, then we can not do btc transactions. therefore government must think about the source of electricity, because if everyone uses cryptocurrency including minning, it will need big electricity

Erf69

newbie

Activity: 1

Merit: 0

Worry about no refrigeration, no heating, no light first!

TheGreatPython

sr. member

Activity: 2618

Merit: 335

Quote from: acener on June 03, 2018, 07:14:10 AM

Quote from: solve_it on September 28, 2017, 10:58:58 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?

We couldn't do anything about it because electricity is one of our major requirement to access cryptocurrency. I believe that it is really important for us to have an stable internet and an electric source. If we don't have it, we must have atleast an alternative like solar energy supply or generator.

As electricity has become a basic necessity of our lives because all the things that we are having equipped in our houses do operate on this electricity and if electricity wouldn’t be present, I think we will not be able to access many good things in our lives. Crypto currency is a digital thing and all the digital things also operate on electricity which means that if we would have no electricity, we would have no crypto currency.

queenlaurel

jr. member

Activity: 182

Merit: 1

WPP ENERGY - BACKED ASSET GREEN ENERGY TOKEN

Well in my country we have the same issue but not as bad as not having at all. The worst case scenario we use generator it supplies electricity. The big companies use the big generators. There is always a way out.

marginal

member

Activity: 224

Merit: 10

Again as many guys have already told here I believe that we are living in the age where lack of electricity is not the case anymore

basyang

full member

Activity: 644

Merit: 100

Quote from: Cloud27 on September 28, 2017, 01:22:37 PM

This is the situation where I am worried about, the digital transaction is useless. This experience will be a lesson to us, we must be prepared if we know this kind of calamity will happen to us. Before the calamity struck, if you don't have your local money on hand this is the time you can use your bitcoin, buy and stock food or some emergency things you will need during and after the calamity. It will take months before the situation becomes normal with that kind of calamity.

I am totally agree with you. Well, as far as I'm concerned. Yes, bitcoin will be useless once the calamaity hits you. So as you said we always need to be aware and be prepared to this things because once the electricity is gone, no matter how much bitcoin you hold, it will gonna be useless, because we knew that, bitcoin is only process when there is electricity and there has a internet connection. So if you feel it happen, start to plan what you will do and how much you will save from it. Once the calamity hits your country or your place its hard to say if the government can fix the electricity immediately or sometimes it takes a months before it will fixed but depends on the damage of the typhoon in your place.

PonyBoy

full member

Activity: 313

Merit: 100

Banks are definetly not so secure because there are people who aware of your transaction history or can manage your account.

crutu

jr. member

Activity: 50

Merit: 3

KUWA.ai

trading bitcoin without using electrical energy of course will not be able to do because to connect on the internet network every computer or mobile phone will require resources even some countries that have limited internet connection if experienced a power outage can affect the internet connection itself.

yangdd

member

Activity: 144

Merit: 10

If there is no electricity in the area, i don't think anyone will trade there because hey, there's no way you can actually trade or even do banking without electricity. Next is if you're in a hurricane, then i think preparing yourself and your funds would be smart. Besides, you can't also do your banking in the middle of a freaking hurricane

mrsimons121

member

Activity: 182

Merit: 10

If someday there is no electricity anymore. Surely we will not be able to trade with Bitcoin. Because to access Bitcoin alone we do need electricity and if there is no electricity we have to stop our trade with Bitcoin.

CoolSkeleton

member

Activity: 171

Merit: 10

If there is no electricity how can u trade any computer data? You can trade btc only using special devises, just like a usial paper money. If ther no electricity, u will probably be offline, unable to use Internet, so there is no way to trade btc

Saldom12

jr. member

Activity: 238

Merit: 1

If there is no electricity then of course we will not be able to trade bitcoin. Because bitcoin is electric money and bitcoin is connected by internet. So if no electricity is the same bitcoin is also not there.

bettyjcrouch

newbie

Activity: 23

Merit: 0

If there is no electricity or internet then bitcoin will not work. Then you have to exchange one product for another

Topic: What happens when there is NO electricity? How does one trade with BTC? - page 4. (Read 3107 times)