Bitcoin in 5 years

[deisik]

Without Internet all your bitcoins instantaneously become just digital garbage. Gold is not perfect, but it has been around as a means of exchange and store of value for almost five millennia...

How would internet disappear?

Just unplug your cable or turn off you wi-fi router...

Well that wouldn't make my coins worthless.

They are worthless as long as there is no Internet for you. As simple as that...

You think paper wallets are worthless? I don't.

Can you make transactions with them? I always thought that paper wallets were created with the purpose of preventing losing your coins due to a hardware failure of your computer (cold storage)

[Holdaaja]

Without Internet all your bitcoins instantaneously become just digital garbage. Gold is not perfect, but it has been around as a means of exchange and store of value for almost five millennia...

How would internet disappear?

Just unplug your cable or turn off you wi-fi router...

Well that wouldn't make my coins worthless.

They are worthless as long as there is no Internet for you. As simple as that...

You think paper wallets are worthless? I don't.

Can you make transactions with them?

¨
With casascius coins, yes. And if someone accept just private code, sure.

[deisik]

Without Internet all your bitcoins instantaneously become just digital garbage. Gold is not perfect, but it has been around as a means of exchange and store of value for almost five millennia...

How would internet disappear?

Just unplug your cable or turn off you wi-fi router...

Well that wouldn't make my coins worthless.

They are worthless as long as there is no Internet for you. As simple as that...

You think paper wallets are worthless? I don't.

Can you make transactions with them?

¨
With casascius coins, yes. And if someone accept just private code, sure.

So it is not much different if you just replace your casascius coins with any other coins (gold, for example, lol). And I'm not very familiar with bitcoin transaction technology, so could someone more knowledgeable either confirm or refute that? Aren't they liable to double-spend?

How could we know that money is still there (without access to blockchain)?

[Holdaaja]

Without Internet all your bitcoins instantaneously become just digital garbage. Gold is not perfect, but it has been around as a means of exchange and store of value for almost five millennia...

How would internet disappear?

Just unplug your cable or turn off you wi-fi router...

Well that wouldn't make my coins worthless.

They are worthless as long as there is no Internet for you. As simple as that...

You think paper wallets are worthless? I don't.

Can you make transactions with them?

¨
With casascius coins, yes. And if someone accept just private code, sure.

So it is not much different if you just replace your casascius coins with any other coins (gold, for example, lol). And I'm not very familiar with bitcoin transaction technology, so could someone more knowledgeable either confirm or refute that?

Or I just could replug my internet cable

[deisik]

So it is not much different if you just replace your casascius coins with any other coins (gold, for example, lol). And I'm not very familiar with bitcoin transaction technology, so could someone more knowledgeable either confirm or refute that?

Or I just could replug my internet cable

It may not be enough, lol

[Ada_and_Alternative]

Seems like bitcoin is too dependent on Internet connection and electricity.
I hope everything 'll be alright with them in 5 years 

[pietje]

Seems like bitcoin is too dependent on Internet connection and electricity.
I hope everything 'll be alright with them in 5 years 

What isnt dependent on internet and electricity these days?

[deisik]

Seems like bitcoin is too dependent on Internet connection and electricity.
I hope everything 'll be alright with them in 5 years 

What isnt dependent on internet and electricity these days?

Eternal virtues and values indeed (one of them has been named already)...

[frank754]

I see Bitcoin as becoming more mainstream and stable, also as a hedge against economic conditions. Fiat money keeps being printed as well, and the value of dollars is gradually declining vs the goods that it can purchase, as well as how it can fluctuate in the world currency market. The oil market is based on US dollars, but that can change too. I see Bitcoin as a good long term investment that will not lose relative value in purchasing power. Right now it's more in the discovery/adoption phase and there is still some uncertainty, but once past this hurdle should become more stable. I see the price going up steadily soon as more people invest in it and business adopt it, then later the valuation should still keep going up, but less quickly. I do think it will always beat having fiat money in a bank, and many will soon realize that.

[johnyj]

- Used by everybody as a saving account

[notme]

Seems like bitcoin banking is too dependent on Internet connection and electricity.
I hope everything 'll be alright with them in 5 years  

Hey look, it still applies to the alternatives.

[Ada_and_Alternative]

Seems like bitcoin banking everything is too dependent on Internet connection and electricity.
I hope everything 'll be alright with them in 5 years  

Hey look, it still applies to the alternatives.

Any ideas about alternatives?

[timmmers]

The main difference is between BTC and gold though is this is a lot easier to trade and "use" for everyday purchases, transfers etc.

Yes, as long as you have Internet at hand. The main weak spot of bitcoin is hidden where its strengths come from. You can trade in gold using some primitive scales, without Internet, electricity or whatever...

It is very vulnerable without a state behind it

I'm not buying that.   Transporting gold from place to place is extremely vulnerable to brigandage.  Storing gold anywhere makes it vulnerable to robbery.  Bitcoin, not so much; it's up to you how secure or insecure your bitcoin are; there are no physical limits.  I think using gold depends on the state much more than does using bitcoin.

Without Internet all your bitcoins instantaneously become just digital garbage. Gold is not perfect, but it has been around as a means of exchange and store of value for almost five millennia...

How would internet disappear?

Just unplug your cable or turn off your wi-fi router. As easy as that...

Nah. People in China and India and Africa are online via mobile devices and Africa has better coverage than parts of 1st world companies in some areas...if you can't access the web without your Wi-fi router on an ipad or mobile these days you're on the Moon. People on the Moon probably won't use bitcoins IMO though.

[proton]

Money is a medium of exchange.  Without other parties to exchange, all money is worthless. 

[miaviator]

The main difference is between BTC and gold though is this is a lot easier to trade and "use" for everyday purchases, transfers etc.

Yes, as long as you have Internet at hand. The main weak spot of bitcoin is hidden where its strengths come from. You can trade in gold using some primitive scales, without Internet, electricity or whatever...

It is very vulnerable without a state behind it

I'm not buying that.   Transporting gold from place to place is extremely vulnerable to brigandage.  Storing gold anywhere makes it vulnerable to robbery.  Bitcoin, not so much; it's up to you how secure or insecure your bitcoin are; there are no physical limits.  I think using gold depends on the state much more than does using bitcoin.

Without Internet all your bitcoins instantaneously become just digital garbage. Gold is not perfect, but it has been around as a means of exchange and store of value for almost five millennia...

How would internet disappear?

Just unplug your cable or turn off your wi-fi router. As easy as that...

Nah. People in China and India and Africa are online via mobile devices and Africa has better coverage than parts of 1st world companies in some areas...if you can't access the web without your Wi-fi router on an ipad or mobile these days you're on the Moon. People on the Moon probably won't use bitcoins IMO though.

Why not?

People on the moon will likely not use cash or gold.  I think BTC would be a good idea for Moon and Underwater projects.

[exstasie]

Since I am an owner of BTC I obviously want it to stick around...though not sure if that'll be the case. I believe that some form of crypto currency will survive...just not sure it'll be btc

[Chris180Z]

Who knows, but probably used by many people around the world in shops, and there will be competition.