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Author Topic: What would happen if Bitcoin went offline for good tomorrow?  (Read 2240 times)
afriezalie
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September 04, 2015, 04:37:51 AM
 #41

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
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According to NIST and ECRYPT II, the cryptographic algorithms used in Bitcoin are expected to be strong until at least 2030. (After that, it will not be too difficult to transition to different algorithms.)
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September 04, 2015, 05:02:18 AM
 #42

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

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September 04, 2015, 05:11:18 AM
 #43

It isn't going to so don't worry.
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September 04, 2015, 05:29:13 AM
 #44

377JHHNGLysd1D8UFxTawytPUctg4CATQu




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

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September 04, 2015, 05:36:08 AM
 #45

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^

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September 04, 2015, 05:42:03 AM
 #46

1FnhQVrtMowT2frE6W2WEMkUdSFXVdCux9


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


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September 04, 2015, 05:43:34 AM
 #47

Most of the Bitcoin investors are suicide  Cheesy

But I hope, it can't happen.

Here is my wallet: 1NebXfAWTxGTGEtyV9PRPs9CkjP5fAKXyr

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September 04, 2015, 05:46:49 AM
 #48

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)

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September 04, 2015, 07:26:44 AM
 #49

I'm sure someone keeps an identical log of the blockchain?

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

Some people are so poor ALL they have is money
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September 04, 2015, 07:27:39 AM
 #50

1FnhQVrtMowT2frE6W2WEMkUdSFXVdCux9


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



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

Some people are so poor ALL they have is money
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September 04, 2015, 07:28:25 AM
 #51

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 Wink

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

Some people are so poor ALL they have is money
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September 04, 2015, 08:55:45 AM
 #52

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

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September 04, 2015, 10:17:58 AM
 #53

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".    Huh

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September 22, 2015, 04:38:38 AM
 #54

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?
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