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Author Topic: Is it possible to use bitcoin like offline currency?  (Read 7683 times)
InvestICO2L
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April 12, 2018, 04:48:01 AM
 #461

Few days ago a friend asked me this questions. But i cannot understanding that how to i give him answer. At last i said him that, bitcoin is an online currency. Only this currency used in online marketplaces. It is not possible to use it in offline marketplace like offline currency.

But what is your best answer of this question?

I see you had a right answer. Bitcoin is a digital currency or online currency and it needs internet to survive, offline transaction is a bit tricky but it dont has to quite impossible. You need a third party in situations want to use offline example like bitcoin debit cards like wirex and uquid or OpenDimes.... you just need to deposit your bitcoin to these services and then you can use them in offline transaction. However, you have to think before using them because the fee is very high.
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MinMan
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April 15, 2018, 06:36:41 AM
 #462

Few days ago a friend asked me this questions. But i cannot understanding that how to i give him answer. At last i said him that, bitcoin is an online currency. Only this currency used in online marketplaces. It is not possible to use it in offline marketplace like offline currency.

But what is your best answer of this question?

I see you had a right answer. Bitcoin is a digital currency or online currency and it needs internet to survive, offline transaction is a bit tricky but it dont has to quite impossible. You need a third party in situations want to use offline example like bitcoin debit cards like wirex and uquid or OpenDimes.... you just need to deposit your bitcoin to these services and then you can use them in offline transaction. However, you have to think before using them because the fee is very high.
I still cannot understand the logic using which you can use any of the digital currency for which having an internet connectivity is a must condition to use like the way you use most of the normal regular currencies. All the digital currencies work online and that you cannot treat them like an offline currency. You need to be very much clear about it so that you may not fall victim of any of the scam.
cr_liev
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April 25, 2018, 04:57:27 PM
 #463

It is also possible to use it offline 'cause there's a lot of exchanging bank that are accepting bitcoin it can literally use to buy things with your local currency but the question have a two meaning if it is can use offline to buy something on the streets or something that you want to buy at local store your friend might be curious about this but try to explain her/him the most possible idea of what bitcoin has.

Your example is not quite right. If the bank or any other institution exchanges bitcoin to local currency, you use the local currency offline, not bitcoin. Bitcoin is a purely online currency that requires Internet connection to be applied.
gitotedjo
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April 25, 2018, 05:53:34 PM
 #464

Your answer is correct, bitcoin is a digital currency that can only be used when you are connected to an internet connection. Bitcoin is not used in offline currency, it can not, it is very far from the real principle of bitcoin. Many countries forbid if bitcoin is used for buy and sell transactions that are like replacing the virtual currency, and not many parties receive payments via bitcoin.
You can only do for bitcoin can be used like offline currency, that is with you put your money that has been exchanged with your country currency into your credit card.
Pemburu1
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April 25, 2018, 10:14:24 PM
 #465

I guess it would not be possible to use bitcoin like offline currency. because as we know bitcoin is designed as a digital currency where bitcoin users use it requires an internet connection.

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