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Bitcoin => Bitcoin Discussion => Topic started by: Trance on September 03, 2015, 05:29:33 PM



Title: What would happen if Bitcoin went offline for good tomorrow?
Post by: Trance on September 03, 2015, 05:29:33 PM
Discuss!

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Title: Re: What would happen if Bitcoin went offline for good tomorrow?
Post by: RGBKey on September 03, 2015, 05:33:55 PM
173AgCwE1isTuUzDTp6qPkEdhwqWP2v1xy

If Bitcoin went offline for good, I'm assuming that means nobody can make an active connection to the p2p network.
The first thing to happen would be anybody that has coins in exchanges would be selling them as fast as they could. Coinbase would probably stop allowing selling, and I would wager that other exchanges would freeze trading also. Other than that, not much would happen because nobody would be able to transfer any more coins. There would be a lot of panic.


Title: Re: What would happen if Bitcoin went offline for good tomorrow?
Post by: --Encrypted-- on September 03, 2015, 05:34:51 PM
I don't know.
I'm more interested in how this can happen. as I understand, bitcoin will only go "offline" when everyone turned off or unable to connect their nodes to the network.

19VgtnLJZWMm24hEKBDtL8BjsgoMm2WfPk


Title: Re: What would happen if Bitcoin went offline for good tomorrow?
Post by: frenulum on September 03, 2015, 05:37:44 PM
1GmFifoGvsCervwcGhXbBiAHvthWtwKVpo

A lot of people would lose a lot of money and freak out. Litecoin would go all bully.


Title: Re: What would happen if Bitcoin went offline for good tomorrow?
Post by: neochiny on September 03, 2015, 05:40:25 PM
hmmm.. if bitcoin went offline for good tomorrow, a lot of dollars will be wasted and
a lot of people will be mad and argue about it. and im thinking about when it will be for good(i hope not),
this will be really sad and disappointing its a large lost in each community especially now when
almost every country now have bitcoins.
 
P.S by the way,, is for instance what will be the cause of it?

1GR2NqWMgFS5iH4wmK3nifS4uhweDk5SYp


Title: Re: What would happen if Bitcoin went offline for good tomorrow?
Post by: adamstgBit on September 03, 2015, 05:45:51 PM
18dPhZwtAgVfJ9UfCeHjiSH29XUoNHW66P

someone would launch Bitcoin 0.12.0, with the most recent blockchain available, and keep mining.


Title: Re: What would happen if Bitcoin went offline for good tomorrow?
Post by: ericfrnz on September 03, 2015, 05:47:39 PM
CON: a lot of people would be angry
PRO:a lot of nerds would leave their houses.


Title: Re: What would happen if Bitcoin went offline for good tomorrow?
Post by: boliu on September 03, 2015, 05:49:00 PM
15Cb6nyDqRFCcxGiHs5EYfvCvABsiXtQwQ

Sell like crazy


Title: Re: What would happen if Bitcoin went offline for good tomorrow?
Post by: lorylore on September 03, 2015, 05:49:16 PM
There are many things that are simply worst and we can not get a refund.
Bitcoin doesn't have office, we don't know the owner, we don't know maybe the developers.
We just can't do anything, and a new coin maybe will be released Lite Bitcoin lol

18SvViXzBoKURr9FPecVjYGvFjZZeZiPAg


Title: Re: What would happen if Bitcoin went offline for good tomorrow?
Post by: SmartIphone on September 03, 2015, 05:50:42 PM
I will Go to a swimming pool and try to jump as high as i can and screaming "Bitcoin is dead" - 1DnJ4rzDpSG5GJsXNyXE7f17rky8wc1RLT


Title: Re: What would happen if Bitcoin went offline for good tomorrow?
Post by: Lauda on September 03, 2015, 05:51:06 PM
I think that there's a issue within the thread title. What do you mean by 'for good'? In what scenario would that be good? Only if Bitcoin was taken over by some government agency (not possible due to the decentralized and trustless nature of the already established protocol), then it might be 'for good'.
someone would launch Bitcoin 0.12.0, with the most recent blockchain available, and keep mining.
I concur. Even if everything went down, I would use a older (tested and working) version of Bitcoin and run it (at least for my own amusement).


Title: Re: What would happen if Bitcoin went offline for good tomorrow?
Post by: myveryown on September 03, 2015, 05:51:15 PM
something new would spring up :)

1HyogW2xUoohACk5cNvi78XRBb8f3ckBWG


Title: Re: What would happen if Bitcoin went offline for good tomorrow?
Post by: --Encrypted-- on September 03, 2015, 05:51:24 PM
15Cb6nyDqRFCcxGiHs5EYfvCvABsiXtQwQ

Sell like crazy

offline = no transaction can be made.
how would you sell them if you can't even send the bitcoins?


Title: Re: What would happen if Bitcoin went offline for good tomorrow?
Post by: boliu on September 03, 2015, 05:52:33 PM
15Cb6nyDqRFCcxGiHs5EYfvCvABsiXtQwQ

Sell like crazy

offline = no transaction can be made.
how would you sell them if you can't even send the bitcoins?

I was Referring to the BTC I have on Cryptsy and Coinbase


Title: Re: What would happen if Bitcoin went offline for good tomorrow?
Post by: menoiazei on September 03, 2015, 05:53:44 PM
1FaF6hWKqNvNWbNXNa34LGfDseCGEmar3K

same thing happened before there was BTC


Title: Re: What would happen if Bitcoin went offline for good tomorrow?
Post by: adamstgBit on September 03, 2015, 05:55:39 PM
15Cb6nyDqRFCcxGiHs5EYfvCvABsiXtQwQ

Sell like crazy

offline = no transaction can be made.
how would you sell them if you can't even send the bitcoins?

I was Referring to the BTC I have on Cryptsy and Coinbase

if somehow  "Bitcoin went offline for good tomorrow" ( i don't think this is actually possible but lets pretend ) price would be 0 a few minutes before the system went down.


Title: Re: What would happen if Bitcoin went offline for good tomorrow?
Post by: victoryboy on September 03, 2015, 05:56:08 PM
Well if Bitcoin goes offline for good then how will you donate us ? First off this is not going to happen and if happens somehow then we all lost investment thats all.


Title: Re: What would happen if Bitcoin went offline for good tomorrow?
Post by: unusualfacts30 on September 03, 2015, 05:58:51 PM
15HSpxiHqnAJitLAEwdsALJnsHgHcV5KuR


If it goes offline there will be chaos and twitter will explode...ltc might start see huge pump


Title: Re: What would happen if Bitcoin went offline for good tomorrow?
Post by: Hugroll on September 03, 2015, 06:01:53 PM
if bitcoin just disappeared tommorow, first I'd convert all my btc to fiat today. and you can probably expect tons of angry mobs tommorow.


Title: Re: What would happen if Bitcoin went offline for good tomorrow?
Post by: RustyNomad on September 03, 2015, 06:02:14 PM
3E3Xx4mUYokAXe52bqwvMWMbBDp31iKXVc

Well for starters I will be very disappointed or sad as that would mean that I will have to deal with my bank again for anything financial.

This would mean waiting ages to send and or receive international transfers and worse having to wait until 9:30 in the morning before any of the branches are open so I can do these kind of transfers because they are so anal that I can only do these up to a certain amount with internet banking.

So essentially, without bitcoin I'll be back to the 'dark ages' in so far as my financial transactions are concerned.


Title: Re: What would happen if Bitcoin went offline for good tomorrow?
Post by: AGD on September 03, 2015, 06:09:33 PM
1PpM1wHT9M4SVvjLatEiqTEzn4tQ9LvC1

You mean "The entire internet went offline" or just Bitcoin (edit: not possible as long as we have the internet)?
Which catastrophe would need to happen to the worldwide internet to go offline?

I guess, we would have other problems than Bitcoin at that moment.



Title: Re: What would happen if Bitcoin went offline for good tomorrow?
Post by: Amph on September 03, 2015, 06:24:27 PM
i would lose a good amount of wealth, but i'm sure that something akin will emerge quickly, for this reason i'm not worried too much


Title: Re: What would happen if Bitcoin went offline for good tomorrow?
Post by: Mickeyb on September 03, 2015, 06:56:33 PM
Nothing, we would all lose our investments. The few lucky ones that are trading and holding coins on the exchanges would be able to sell their coins but I am not sure they would be allowed to withdraw the Fiat by the exchanges.

Something else would emerge, some new coin but I don't know how successful this would be, not too much probably, since all of the Bitcoiners would have lost money with Bitcoin and bad press would be enormous for this new coin to take off!

1BXUDNLZCwbgAp1bwU59ZHt3mTJPtG81pj


Title: Re: What would happen if Bitcoin went offline for good tomorrow?
Post by: icematikx on September 03, 2015, 07:12:04 PM
I think that I'd finally realize that I should stop investing in things that don't deliver concrete returns (like ISA's and savings accounts).

I'm hoping Bitcoin is the high risk/reward investment I've been wishing for.

1NtJNZEyXHFYoKzbMa3H73348H6rcg5Qrb


Title: Re: What would happen if Bitcoin went offline for good tomorrow?
Post by: Pathi on September 03, 2015, 07:19:31 PM


Sell like crazy

offline = no transaction can be made.
how would you sell them if you can't even send the bitcoins?

I was Referring to the BTC I have on Cryptsy and Coinbase

I would assume these wallets would be offline also. IE ALL wallets are dead in the water.

1DvvC36jvRACMUfYHcWN3bFbmMwyNpGGEJ



Title: Re: What would happen if Bitcoin went offline for good tomorrow?
Post by: erikalui on September 03, 2015, 08:25:56 PM
15kADsBTud7qMKqD6cBcvGpnJX37Lznuhh

If Bitcoin goes offline, what will happen to the BTC I hold at my address? It will become NIL or it will be unaccessible?

I wouldn't be quite affected by it but would feel bad for the end of a crypto currency that I learnt about and used for about 2 years. For me it will be an end to one which could lead to the birth of another crypto currency.


Title: Re: What would happen if Bitcoin went offline for good tomorrow?
Post by: Wapinter on September 03, 2015, 08:34:01 PM
If bitcoin goes offline,few of us would become poor as they have invested lot in mining etc the rest will come here on forum to share how much they lost :D
1E35dNx1BCxAzWfLjPu8K3mwWL2hhjD21M


Title: Re: What would happen if Bitcoin went offline for good tomorrow?
Post by: achow101 on September 03, 2015, 08:35:38 PM
The only way for Bitcoin to go offline is for the internet to go offline. The only way that can happen nowadays is for a massive solar flare to hit the Earth. This would do much more damage than just shutting down Bitcoin, and Bitcoin being offline would be the least of our worries. Without any electricity, entire infrastructures would collapse and many people would probably die from lack of food and water (which both need electricity to produce).

16mT7jrpkjnJBD7a3TM2awyxHub58H6r6Z


Title: Re: What would happen if Bitcoin went offline for good tomorrow?
Post by: adamstgBit on September 03, 2015, 08:36:28 PM
http://vignette2.wikia.nocookie.net/uncyclopedia/images/1/13/Explosion.jpg/revision/20080321033750


Title: Re: What would happen if Bitcoin went offline for good tomorrow?
Post by: dothebeats on September 03, 2015, 08:44:05 PM
Though highly improbable, bitcoin's price on fiat would probably plummet, and everything would be written on books, blogs, articles. In short, everything about bitcoin would only be a history for us to ponder on.


Title: Re: What would happen if Bitcoin went offline for good tomorrow?
Post by: tvbcof on September 03, 2015, 08:56:35 PM

The blockchain remains and the hodler value is safe and sound within it.  Workarounds for whatever happened will be invented.

If the workarounds or a long down-time requires a code change, patches will be available to bring the system back up.  There will likely be multiple competing efforts to bring Bitcoin back on-line.  'consensus' will define which of these succeed.  In this phase it will be critical for users to have information on who to trust.  I suggest that people spend some time evaluating this problem before it is necessary.

I don't even think it is all that improbable that such an event will happen, though I suspect that there will be corners of the earth where Bitcoin continues on unmolested and that complicates analysis.  Some of these corners will likely be private networks of size, and some of these networks may not have Bitcoin's best interest in mind.  Relatedly, a global network attack could punch tactical holes in the shield to aggravate recovery efforts.

Even in the best of circumstances, difficulties may be problematic as it was for certain sha256-based alt coins when attacked by Bitcoin proponents.  I would lean toward efforts to make some fixes to Bitcoin corresponding to bringing it back on-line.  Several of the biggest of these would be to do away with sha256 proof-of-work (and consequently, the consolidation of mining power behind ASIC investors) and also the regrettable fact that simple verifying transfer nodes are not rewarded.



Title: Re: What would happen if Bitcoin went offline for good tomorrow?
Post by: PolarPoint on September 03, 2015, 09:04:05 PM
If Bitcoin down for technical reasons, it will be fixed sooner or later by the devs. If it is a global ban by governments through internet providers, a patch will be found to circumvent the ban. The only way Bitcoin can be gone is a complete shut down of the internet.

191Zpgz9ztSq6h6kudbgrTcDSiZEaTYWmC


Title: Re: What would happen if Bitcoin went offline for good tomorrow?
Post by: mrsalve on September 03, 2015, 09:30:51 PM
Dear Lord. Some people here shod actually find a regular job. Incomprehensible!

17yK9Av9aRcd7aMY216PZJQZgjyKmTUxN3


Title: Re: What would happen if Bitcoin went offline for good tomorrow?
Post by: maokoto on September 03, 2015, 09:35:01 PM
If Bitcoin went offline tomorrow we would have to go to the altcoin forum section :D

1Q5AV8vb8cnK8zNfy6WbJez8PfLmZK5QgD


Title: Re: What would happen if Bitcoin went offline for good tomorrow?
Post by: BornBlazed on September 03, 2015, 09:38:24 PM
1DazH8oRvPqc11p5UjGpQ8x9ykMmh5nzau

Pat myself on the back for Cashing out all my BTC and buying Nubits (pegged too US dollar) .


Title: Re: What would happen if Bitcoin went offline for good tomorrow?
Post by: Coinshot on September 03, 2015, 09:46:00 PM
It would be a sad day for many of us, but more than that it would be the end of a "common man's" dream of a world where you can direct and control
your finances withouth interacting or relying on third party services.

Tbh, i think there's enough of us who believe in bitcoin, who will not let this ever happen. I don't care if price goes to single figure number, it's just important
for it to remain an option as a medium of transacting value.

15d4885Q9Thw7v9a1qJgSndQNLtyzS5TLo


Title: Re: What would happen if Bitcoin went offline for good tomorrow?
Post by: notbatman on September 04, 2015, 02:43:39 AM
The sun will go dark, the moon will no longer shine her light, and the stars will fall from heaven.

1bonesr7ELVnEGa5PBXpkncU2gujZMEkf


Title: Re: What would happen if Bitcoin went offline for good tomorrow?
Post by: lastuser on September 04, 2015, 03:41:23 AM
If bitcoin went offline for good tomorrow, then there is no reason for me to live. Bitcoin is love, bitcoin is life. ;D


Title: Re: What would happen if Bitcoin went offline for good tomorrow?
Post by: mookid on September 04, 2015, 03:44:53 AM
If bitcoin went offline, another platform is going to take his place, maybe Ethereum, or more probably, something mature enough.
Problem is, most of the altcoins aren't up for the challenge. It needs to be something with a strong tech, but that can grow quick.
Since i hold some Eths, i would love to see them triumph, but the platform it's still young.
What it's certain is that a lot of people are going to lose lot's of money.
1QGGA5MZV8QZZ9oCrv9FUT9e72hb3TBNpt


Title: Re: What would happen if Bitcoin went offline for good tomorrow?
Post by: White sugar on September 04, 2015, 04:31:39 AM
1EUDH23engkaGBd7W5dmm48S6JmK77HVje

There are only around 100k Bitcoiners around the world, so I think outside people would not even notice it. I would sell all my stash for any price and just move along


Title: Re: What would happen if Bitcoin went offline for good tomorrow?
Post by: afriezalie on September 04, 2015, 04:37:51 AM
If bitcoin went offline, how could this is happened? That is my first question. If something happened to the bitcoin and made it offline, i would exchange all of my bitcoin to fiat. In my opinion, if bitcoin went offline, altcoin would go offline too


Title: Re: What would happen if Bitcoin went offline for good tomorrow?
Post by: hardtime on September 04, 2015, 05:02:18 AM
if that would happen, definitely there will be an altcoin that will replace it. i don't know what will be it but it's something close to bitcoin


Title: Re: What would happen if Bitcoin went offline for good tomorrow?
Post by: blockchainideas on September 04, 2015, 05:11:18 AM
It isn't going to so don't worry.


Title: Re: What would happen if Bitcoin went offline for good tomorrow?
Post by: crazywack on September 04, 2015, 05:29:13 AM
377JHHNGLysd1D8UFxTawytPUctg4CATQu




Wouldn't, couldn't, but if it did... I would get my life back.... ::)


Title: Re: What would happen if Bitcoin went offline for good tomorrow?
Post by: Kakmakr on September 04, 2015, 05:36:08 AM
I think many people consider only a scenario when Bitcoin goes off globally. This is not necessary for a total collapse of the Bitcoin price <I say price, because taking Bitcoin down globally would be pushing it}
We saw during the Arab Spring riots in 2011, that the government at the time, blocked access to the internet, because people used online services to organize these riots.

If countries want to do this, they only need to block access to inter continental cables and Satellite access. It's not impossible to do, but they could disrupt Bitcoin <And all other internet services> if they wanted too. If they do this in any country in the world, the ripple affect would be a massive exodus of people from Crypto currencies. < Panic would spread, even if it's unrealistic that it would happen everywhere >

To take down Bitcoin, you have to take down all other internet services. That would create chaos. ^hmm^


Title: Re: What would happen if Bitcoin went offline for good tomorrow?
Post by: trior on September 04, 2015, 05:42:03 AM
1FnhQVrtMowT2frE6W2WEMkUdSFXVdCux9


Restart from zero, and start mining with my laptop again. ;D
Then bitcoin will go to 1000$ in one week or less and I will cash out at the top.  ;D
And wait for the cycle to repeat.



Title: Re: What would happen if Bitcoin went offline for good tomorrow?
Post by: nagatlakshmi on September 04, 2015, 05:43:34 AM
Most of the Bitcoin investors are suicide  :D

But I hope, it can't happen.

Here is my wallet: 1NebXfAWTxGTGEtyV9PRPs9CkjP5fAKXyr


Title: Re: What would happen if Bitcoin went offline for good tomorrow?
Post by: lottery248 on September 04, 2015, 05:46:49 AM
i don't really think it would, at least we would be able to avoid blockchain from skyrocketing.
let's make paper wallet to setup physical bitcoin network.

(address soon)


Title: Re: What would happen if Bitcoin went offline for good tomorrow?
Post by: Trance on September 04, 2015, 07:26:44 AM
I'm sure someone keeps an identical log of the blockchain?

Even then replicating the open-source BTC protocol would be difficult ?


Title: Re: What would happen if Bitcoin went offline for good tomorrow?
Post by: Trance on September 04, 2015, 07:27:39 AM
1FnhQVrtMowT2frE6W2WEMkUdSFXVdCux9


Restart from zero, and start mining with my laptop again. ;D
Then bitcoin will go to 1000$ in one week or less and I will cash out at the top.  ;D
And wait for the cycle to repeat.



What about the multi-million dollar mining operations in Asia :P they would make your CPU obsolete!


Title: Re: What would happen if Bitcoin went offline for good tomorrow?
Post by: Trance on September 04, 2015, 07:28:25 AM
If bitcoin went offline, how could this is happened? That is my first question. If something happened to the bitcoin and made it offline, i would exchange all of my bitcoin to fiat. In my opinion, if bitcoin went offline, altcoin would go offline too

You must understand, Bitcoin is a GIANT EXPERIMENT ;)

Read Satoshi's PDF here: https://bitcoin.org/bitcoin.pdf


Title: Re: What would happen if Bitcoin went offline for good tomorrow?
Post by: S4VV4S on September 04, 2015, 08:55:45 AM
I am sorry but I don't see any possible way of Bitcoin being offline for good.
Maybe in one area of the world, but not worldwide.

If I was to pretend that, that did happend - a solar storm for example - then IF we were alive, I would say Bitcoin would be useless at that point.

12JRbGAhSpfFHwoCNuz8H8RGg1mpX8WaX9



Title: Re: What would happen if Bitcoin went offline for good tomorrow?
Post by: Kprawn on September 04, 2015, 10:17:58 AM
People will jump off buildings and most people will panic like crazy people. These people will be the VC investors and the wallet service providers and the Bitcoin exchange owners and some of the Chinese miners.

There are already loads of businesses only centered around Bitcoin, and these owners have a permanent labor force working for them and dependend on a monthly or weekly salary.

The easiest answer could be... People will go "Bat shit crazy".    ???


Title: Re: What would happen if Bitcoin went offline for good tomorrow?
Post by: MisterMoney on September 22, 2015, 04:38:38 AM
Discuss!

Post BTC address for generous RNG donation!!

I want at least 10 address's in order to do the RNG donation!

Went off for just one day?