Title: Bitcoin offline transaction like fiat money? Post by: CryptoCoin8487 on December 26, 2017, 02:32:22 AM We all know that today is modern day and almost all people already using internet around the world. Do guys have any idea that someday bitcoin can transact offline? I was asking this question because i have some friends out there who still not yet using internet until now.
Title: Re: Bitcoin offline transaction like fiat money? Post by: zolfa on December 26, 2017, 02:42:59 AM yes, we are all required to be able to understand the world of technology. today, tomorrow, and in the future forever.computers can run offline, but to be active in the digital world must be online. and we can not generate crypto by offline.
Title: Re: Bitcoin offline transaction like fiat money? Post by: CryptoCoin8487 on December 26, 2017, 03:08:25 AM yes, we are all required to be able to understand the world of technology. today, tomorrow, and in the future forever.computers can run offline, but to be active in the digital world must be online. and we can not generate crypto by offline. I understand what you are saying my point is, is it posible that someday in the future we can use offline transaction using bitcoin? Title: Re: Bitcoin offline transaction like fiat money? Post by: rphk on December 26, 2017, 04:01:51 AM offline transaction means now having offline wallet , but online transaction is necessary for the bitcoin and other transaction because internet is very much important to transact and connect with globally. in future it may come as like fiat cash currency to carry it in the pocket to transact bitcoins.
Title: Re: Bitcoin offline transaction like fiat money? Post by: rickn on December 26, 2017, 04:14:38 AM It may be possible, but of course the technology will have to do its role, allowing this offline transaction.
Title: Re: Bitcoin offline transaction like fiat money? Post by: ndoromas on December 26, 2017, 04:25:32 AM Maybe someday it can, but this is dangerous, because it is not transparent, and can be manipulated data.
Another way online, we can track the existence of our bitcoin, to the stage of confirmation how much bitcoin we processed. Someday nobody is not online, so in conclusion, everything that is done tends to be online no one is offline. Because with online we can quickly make transactions from one end of the world to the other end of the world, but if done offline, how many hours / day / month / year will be up? Which is online only if the new network is busy sometimes we can not wait, what about offline? Title: Re: Bitcoin offline transaction like fiat money? Post by: pooya87 on December 26, 2017, 04:26:58 AM no it is impossible to transfer bitcoin offline. you can create a transaction offline, sign it and everything (that is how cold storage works) but eventually to "transfer" you need to broadcast that signed transaction over the peer to peer network.
it is like asking "if there was no internet/phone connection in the shop, can i still use my credit card?". you obviously can not. the pos machine needs to connect to the bank servers and check your balance and transfer your money so that you can make the purchase. Title: Re: Bitcoin offline transaction like fiat money? Post by: jseverson on December 26, 2017, 05:04:48 AM Not right now, and probably not anytime soon. You can do everything offline but broadcast your transaction at the moment. You and the other nodes would have to be connected by some network, which, I guess, doesn't necessarily have to be the internet. Maybe we can start from there?
But yeah, not even ATMs can work offline, and they're widely used. This kind of functionality would be insanely useful, but not at all necessary. Title: Re: Bitcoin offline transaction like fiat money? Post by: postokenlover on December 26, 2017, 05:08:19 AM Off line is impossible. The broadcast of the transaction must depend on the Internet, and the non trading radio miners can't find your business. Maybe a few years later, mobile phone transactions will be a lot of use, but mobile transactions are based on the miner maintenance network.
Title: Re: Bitcoin offline transaction like fiat money? Post by: h0lybyte on December 26, 2017, 05:24:51 AM It is obviously impossible to broadcast transactions offline and also there would be no instantaneous in transferring bitcoin globally.
Miners will have to manually confirm all transactions and it will take weeks to complete an international transaction like we see in fiat. We anyhow need to be connected to servers in order to do tasks in brief time Title: Re: Bitcoin offline transaction like fiat money? Post by: hatshepsut93 on December 26, 2017, 05:25:00 AM There's a project called Opendime: https://opendime.com/
Basically, it's like a flash drive that stores a private key and it has two states - sealed, meaning that no one knows the private key, and open, meaning that anyone can read that private key. The idea is that you can load this device with BTC by sending coins to its address that was generated by device itself, and then you can give it to someone else and they will trust that you haven't copied the private key if the seal wasn't broken. Essentially, you have to trust that this device hasn't been tampered with or counterfeited in some very subtle way. Title: Re: Bitcoin offline transaction like fiat money? Post by: kiwasmose on December 26, 2017, 05:27:56 AM It's not possible to do it for the time being. The only way to help them now is to build more Internet base stations and nodes. Let them connect to the Internet.
Title: Re: Bitcoin offline transaction like fiat money? Post by: Kakmakr on December 26, 2017, 05:51:04 AM All transactions must be broadcasted on the network to be validated by the miners. How will the miners validate transactions that they cannot see? You are tackling the problem from the wrong angle. The governments of the world must solve the internet access problem, with the help of the corporate world.
Google and Elon Musk have started with different projects to grant FREE or cheap internet to everyone on this planet. <Watch this space> ^smile^ Title: Re: Bitcoin offline transaction like fiat money? Post by: Crown1 on December 26, 2017, 05:56:13 AM If offline, how do you account for and use blockchain technology? That seems unlikely to happen.
Title: Re: Bitcoin offline transaction like fiat money? Post by: farhaan on December 26, 2017, 06:15:43 AM We all know that today is modern day and almost all people already using internet around the world. Do guys have any idea that someday bitcoin can transact offline? I was asking this question because i have some friends out there who still not yet using internet until now. No.Bitcoin being a digital currency which works only in internet,it could not be transacted offline.There is no central authority to issue bitcoins as a physical coin and give assurance for its value.Even if any private company issues some physical coin and announces that it would would pay for it in bitcoin instead,it is highly risky for that company since bitcoin price is highly volatile and hence no such company would come forward to do so.Bitcoin is an internet currency and could be used only online.Title: Re: Bitcoin offline transaction like fiat money? Post by: eann014 on December 26, 2017, 08:37:59 AM We all know that today is modern day and almost all people already using internet around the world. Do guys have any idea that someday bitcoin can transact offline? I was asking this question because i have some friends out there who still not yet using internet until now. If we can all have our own offline bitcoin wallet storage and if we can sti transact offline, trasfering or encashing offline in our storage it can be possible. Ofcourse for sure it can have a fees/charges for the offline transaction, but if we really want it then why not, but make sure accept the rules about the fees and charges.Title: Re: Bitcoin offline transaction like fiat money? Post by: nareshrohra on December 26, 2017, 08:49:32 AM There are 2 projects working on that front.
1. Using radio waves for transaction: One of the efforts in 2014 was done to transfer bitcoin transactions via radio waves in Finland. The project is still undergoing 2. Child chain: essentially, do transactions on a small closed network (intranet maybe?) and then send to the global network at regular interval (once an hour, day etc). https://www.ardorplatform.org/ Title: Re: Bitcoin offline transaction like fiat money? Post by: AGD on December 26, 2017, 09:04:35 AM How can a transaction, that HAS to be sent to another server to be confirmed, turn out to be valid for a network without the connection to another server?
Answer: Not possible! Now what is possible is the following: The internet will be accessible for everyone on every corner on this planet, through satellites. Cellphones will be affordable by almost everyone, because they are practically given away for free. Title: Re: Bitcoin offline transaction like fiat money? Post by: amzadabir on December 26, 2017, 09:45:03 AM Offline transaction to impossible. Transaction to the course of the Internet connection take. It's not if it is not possible.
Title: Re: Bitcoin offline transaction like fiat money? Post by: Twentyonepaylots on December 26, 2017, 10:19:23 AM I think bitcoin will be useless if we can use it without internet, because bitcoin or cryptocurrency solely depends on the internet and it is born from the internet, so what would be the point if we try to use it without internet? the purpose will be useless
Title: Re: Bitcoin offline transaction like fiat money? Post by: Heyyyrenz on December 26, 2017, 10:34:11 AM I get your point, It's a really good idea if thats gonna happen but i think it's possible since the bitcoin is only accessible through internet and all your transaction will be written in the blockchain. If you're wondering "why not?" just try to look how things work or how the transaction works check this link: https://bitcoin.org/en/how-it-works
One of the features of bitcoin is the transparency of the transaction, even though you're anonymous online the transaction will be written publicly in the blockchain network. Title: Re: Bitcoin offline transaction like fiat money? Post by: Betwrong on December 26, 2017, 10:46:37 AM I think there is a possibility of dealing with Bitcoin offline. Imagine you have a wallet with $200 worth of BTC and you want to sell the amount to your friend but you don't want to pay the ridiculously high transaction fee while doing that. So what you can do is taking $200 from your friend giving him full access to the wallet. Thus he would receive BTC and you would receive USD although the deal was made offline.
Title: Re: Bitcoin offline transaction like fiat money? Post by: icanscript on December 26, 2017, 11:29:59 AM Internet, it's just a combination of different local networks and servers. I'm sure that communication between them can be provided in other ways. Yes, it can be longer and not so reliable, but real.
Title: Re: Bitcoin offline transaction like fiat money? Post by: newgal2017 on December 27, 2017, 03:31:04 PM Bitcoin has been born from the internet. Internet is essential in using Bitcoin for it is the medium that connects it and give access to the digital world. Bitcoin, beginning from the internet has a purpose and that is to retain its transparency wherein even if Bitcoin users are protected because of their accounts anonymity their transactions would be still recorded to the blockchain network while their identities are hidden.
In this modern world that we live in, the potential of technology that could make up to anything is really incredible so, I think it is possible for us to be able to do Bitcoin transactions offline but is also produce and empowered by the wonders of technology. Title: Re: Bitcoin offline transaction like fiat money? Post by: Rana590 on December 27, 2017, 03:37:47 PM Transaction Bitcoin in offline it totally impossible. Bitcoin is made on internet based. For globally connection with it internet is the most important element. But in future, it can be possible. Till now there is no chance to transfer Bitcoin in offline.
Title: Re: Bitcoin offline transaction like fiat money? Post by: tony kurniawan on December 27, 2017, 03:59:16 PM We all know that today is modern day and almost all people already using internet around the world. Do guys have any idea that someday bitcoin can transact offline? I was asking this question because i have some friends out there who still not yet using internet until now. to be able to connect and to conduct transactions it must be with the internet. Because Bitcoin is a digital currency in which its use must be online. Title: Re: Bitcoin offline transaction like fiat money? Post by: loaddebitcard on December 27, 2017, 04:18:55 PM It's hardly possible. As it was said above there is an option like offline wallet, but it should be later connected to Internet anyway. Cryptocurrencies can make transactions offline, but then wallets need connection to implement transaction information into the system.
Title: Re: Bitcoin offline transaction like fiat money? Post by: Tamim121 on December 27, 2017, 07:49:11 PM Bitcoin offline transaction is not possible. Because bitcoin is totally internet based and it is globally connected by internet. But in future may be it can possible.
Title: Re: Bitcoin offline transaction like fiat money? Post by: Skieleton on December 27, 2017, 07:59:13 PM no it is impossible to transfer bitcoin offline. you can create a transaction offline, sign it and everything (that is how cold storage works) but eventually to "transfer" you need to broadcast that signed transaction over the peer to peer network. it is like asking "if there was no internet/phone connection in the shop, can i still use my credit card?". you obviously can not. the pos machine needs to connect to the bank servers and check your balance and transfer your money so that you can make the purchase. I agree, but that does not mean that it will not be possible in the future. As if wallet offline recorded transactions? Something like checks. Title: Re: Bitcoin offline transaction like fiat money? Post by: buytheeffinD on December 27, 2017, 08:14:08 PM Yeah probably one day I can see that happening but not at least for a few years here. TenX is running a protocol called COMIT in which they attempt to be able to swap funds offline I don't see why Bitcoin Core with all their resources couldn't complete the same vision.
Title: Re: Bitcoin offline transaction like fiat money? Post by: adzino on December 27, 2017, 08:34:30 PM We all know that today is modern day and almost all people already using internet around the world. Do guys have any idea that someday bitcoin can transact offline? I was asking this question because i have some friends out there who still not yet using internet until now. Nope. This is not possible and I don't think it will ever be. All transactions are to be made online. If both of you are offline, how will the two users, the receiver and the sender connect? How will the transaction take place if no connection is created between the two users? How will the blockchain update and your transactions be included if you are offline?Title: Re: Bitcoin offline transaction like fiat money? Post by: pikecara on December 27, 2017, 08:36:30 PM You need to generate a validation that can be run on two devices simultaneously (something like NFC) however that validation should be posted on a blockchain somehow, that can only be done by being connected to the network, unless a wireless network protocol (like cellphone networks) is created where data can be uploaded to the blockchain i dont believe crytpo transactions withotu internet will ever be possible.
Title: Re: Bitcoin offline transaction like fiat money? Post by: dmamigo on December 27, 2017, 08:52:16 PM Like why? Is it necessary? Bitcoin or other coins were meant to be existing with the benefit of being online with new technology. So why make it offline, and probably it will not be possible unless its physical version or paper version is released which will destroy the USP of this technology.
Title: Re: Bitcoin offline transaction like fiat money? Post by: AVAMONEY on December 27, 2017, 08:59:36 PM We all know that today is modern day and almost all people already using internet around the world. Do guys have any idea that someday bitcoin can transact offline? I was asking this question because i have some friends out there who still not yet using internet until now. Bitcoin are digital currency which can be access required online connection at now. Even it's nothing impossible there could be any tools or program that can adjust requirement which not needed internet connection for doing transaction with Bitcoin method in future. For now, on some countries there are available ATM Bitcoin's, this means Bitcoin has produce as debit card which can be using as offline transactions for cash. It is still need electricity and internet connection for accessing but at least can reach to around the regions.Title: Re: Bitcoin offline transaction like fiat money? Post by: felipe04 on December 27, 2017, 09:12:23 PM Nothing are impossible so it can but i think if this is offline it can't connect in different country and a lot of transaction will not good in that time because we pay here to transact money so if this is offline no one can fix the transaction and that is no fee so it's hard for the offline transaction but still it can happen,Moreover internet is good now so even it's online and has fee i think it's ok now.
Title: Re: Bitcoin offline transaction like fiat money? Post by: harizen on December 27, 2017, 09:24:26 PM We all know that today is modern day and almost all people already using internet around the world. Do guys have any idea that someday bitcoin can transact offline? I was asking this question because i have some friends out there who still not yet using internet until now. A virtual thing can't fully lived outside internet so no it's not possible for bitcoin for now. It needs lots of technical aspects to make it possible and in the first place, bitcoin was not designed for that so I wonder it would be developed. Instead of thinking that scenario, make an adjustment instead. Just teach your friends how to used internet and I think soon they will interact themselves at internet soon. Not just all about bitcoin or crypto thing but internet have many used so definitely it's a must that your friends must learn how internet works. It was also used on school so obviously they will really encounter using internet. |