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Author Topic: What happens when there is NO electricity? How does one trade with BTC?  (Read 2764 times)
solve_it
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September 28, 2017, 02:58:58 PM
 #1

We hear in the news that many people in countries that have currency issues are starting to trade in BTC - for example, Venezula.

My friend asked me what about in regions where they lose electricity, how would they trade with BTC?

For example Puerto Rico is right now devastated by the hurricane, and many parts of its region don't have electricity.  A lot of people need to buy food and even fresh water.

Is there a way to still trade with BTC in such situations?  

Can P2P trade still occur despite having any connection to the greater block-chain network?  Keep in mind that it's easy to charge mobile phone so they have access to wallet apps, but probably not the Internet.

I don't know too much about mobile data networks, but I doubt one's 4G/LTE data plan would work in such situations.  I assume that data would have to be relayed to a tower/dish before it's sent to satellites.  Am I correct?

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September 28, 2017, 03:00:32 PM
 #2

If there's a natural disaster cutting off electricity for days, trading bitcoin should be least of your worries really. Priorities man.

solve_it
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September 28, 2017, 03:07:14 PM
 #3

If there's a natural disaster cutting off electricity for days, trading bitcoin should be least of your worries really. Priorities man.

sorry I meant to say, how does one trade with BTC


ie. how does one buy food/water with BTC in such circumstances if BTC is the most preferred currency for trade (like Venezuela)
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September 28, 2017, 03:12:44 PM
 #4

If there's a natural disaster cutting off electricity for days, trading bitcoin should be least of your worries really. Priorities man.

sorry I meant to say, how does one trade with BTC


ie. how does one buy food/water with BTC in such circumstances if BTC is the most preferred currency for trade (like Venezuela)

The simple answer is: you don't.
For a transaction to be validated you need to send it over the network. And this needs electricity and connection.
Normally at least the sender and recipient's phone would work (again: electricity and connection)
If this minimum requirement is not met, you're out of luck.

A different approach would be to have with yourself a number of paper wallets and had over the actual wallet. But that needs a super-high level of trust between you and the other part, since you can hand out empty paper wallets or just empty them at a short time later. Or give the same wallet to many others... This idea has far too many issues to be a good solution...

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September 28, 2017, 03:41:29 PM
 #5

If there's a natural disaster cutting off electricity for days, trading bitcoin should be least of your worries really. Priorities man.
You wont really bother or to problem this thing first when theres an electricity outage for sure you would find to secure first your family,loved ones on how to live without electricity rather than minding on how you would able to trade with bitcoins. This is just really a non sense question after all because not only bitcoin trading would be affected but all the things which been powered by electricity would be gone too.Imagine a life without energy for sure you would struggle on daily living knowing that we are already living on this convenient world because of gadgets or things which uses electricity.If its gone then were fucked up.


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in
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September 28, 2017, 03:50:27 PM
 #6

If there's a natural disaster cutting off electricity for days, trading bitcoin should be least of your worries really. Priorities man.

sorry I meant to say, how does one trade with BTC


ie. how does one buy food/water with BTC in such circumstances if BTC is the most preferred currency for trade (like Venezuela)

The simple answer is: you don't.
For a transaction to be validated you need to send it over the network. And this needs electricity and connection.
Normally at least the sender and recipient's phone would work (again: electricity and connection)
If this minimum requirement is not met, you're out of luck.

A different approach would be to have with yourself a number of paper wallets and had over the actual wallet. But that needs a super-high level of trust between you and the other part, since you can hand out empty paper wallets or just empty them at a short time later. Or give the same wallet to many others... This idea has far too many issues to be a good solution...

Yea, the paper wallet is the only thing I can really think of for offline trading.

The network is indeed needed to get a confirmation through and to interact with other ledgers. Without this, I don't see how you could send a quick exchange through to buy food/water.

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September 28, 2017, 04:29:24 PM
 #7

We hear in the news that many people in countries that have currency issues are starting to trade in BTC - for example, Venezula.

My friend asked me what about in regions where they lose electricity, how would they trade with BTC?

For example Puerto Rico is right now devastated by the hurricane, and many parts of its region don't have electricity.  A lot of people need to buy food and even fresh water.

Is there a way to still trade with BTC in such situations?  

Can P2P trade still occur despite having any connection to the greater block-chain network?  Keep in mind that it's easy to charge mobile phone so they have access to wallet apps, but probably not the Internet.

I don't know too much about mobile data networks, but I doubt one's 4G/LTE data plan would work in such situations.  I assume that data would have to be relayed to a tower/dish before it's sent to satellites.  Am I correct?



I think the best way is that you can ask for help to someone who has electricity in order to cash out your money so that you can trade it or use it in some transactions. And of course you can contact some families abroad and ask them for some help. And other houses have some generators so they can help you.

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September 28, 2017, 04:32:46 PM
 #8

We hear in the news that many people in countries that have currency issues are starting to trade in BTC - for example, Venezula.

My friend asked me what about in regions where they lose electricity, how would they trade with BTC?

For example Puerto Rico is right now devastated by the hurricane, and many parts of its region don't have electricity.  A lot of people need to buy food and even fresh water.

Is there a way to still trade with BTC in such situations?  

Can P2P trade still occur despite having any connection to the greater block-chain network?  Keep in mind that it's easy to charge mobile phone so they have access to wallet apps, but probably not the Internet.

I don't know too much about mobile data networks, but I doubt one's 4G/LTE data plan would work in such situations.  I assume that data would have to be relayed to a tower/dish before it's sent to satellites.  Am I correct?



You cans ask for some help to those who have generator and able to get your money and use it. And somehow you can use it in able for your family to get secure and able to sustain your needs. Many people can also help you and lend you aome mo ney in able to use for emergencies and ofcourse you can pay it when electricity come back.

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September 28, 2017, 04:46:22 PM
 #9

I wonder what op really wants to be told or hear. Is it the way you want to live your life without electricity? I mean do the needful as to what other people do when electricity is gone. As for trading or  signing into internet even for trading, look for means to power your gadgets otherwise you wait till electricity is restored.

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September 28, 2017, 05:22:37 PM
 #10

This is the situation where I am worried about, the digital transaction is useless. This experience will be a lesson to us, we must be prepared if we know this kind of calamity will happen to us. Before the calamity struck, if you don't have your local money on hand this is the time you can use your bitcoin, buy and stock food or some emergency things you will need during and after the calamity. It will take months before the situation becomes normal with that kind of calamity.
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September 28, 2017, 05:24:42 PM
 #11

Well in that situation the only option left is your paper wallet but in most cases it will be difficult because of the issue of thrust and fear of taking that risk cause that option comes with high risks involve. In the absence of electricity the internet will be down and bitcoin transactions requires active Internet connectivity.
So using bitcoin in time of unavailability of electricity supply can be very hard.
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September 28, 2017, 07:23:34 PM
 #12

If electricity is shut down,then bitcoins could not be traded.Even if internet is switched off,bitcoin could not be used.Natural disasters like cyclones,earth quakes  don't occur often due to which electricity gets cut off.So,they are only exceptional situations.Even ATMs won't work at that time.Even if it happens,we should have a habit of using both the national currency and bitcoin.But still,the option for using bitcoins remain closed.
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September 28, 2017, 07:29:28 PM
 #13

We hear in the news that many people in countries that have currency issues are starting to trade in BTC - for example, Venezula.

My friend asked me what about in regions where they lose electricity, how would they trade with BTC?

For example Puerto Rico is right now devastated by the hurricane, and many parts of its region don't have electricity.  A lot of people need to buy food and even fresh water.

Is there a way to still trade with BTC in such situations?  

Can P2P trade still occur despite having any connection to the greater block-chain network?  Keep in mind that it's easy to charge mobile phone so they have access to wallet apps, but probably not the Internet.

I don't know too much about mobile data networks, but I doubt one's 4G/LTE data plan would work in such situations.  I assume that data would have to be relayed to a tower/dish before it's sent to satellites.  Am I correct?



Well of course you will have no access on the internet, so trading would not be possible. If you're talking about natural calamities you shouldn't worry about your bitcoin because it's secured, you should prioritize your family's safety. If you're talking about using your bitcoin on natural calamities, I think it's won't be that easy since there's no electricity.

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September 28, 2017, 09:39:57 PM
 #14

When there is no electricity, you can always trade in person using paper wallets. Paper wallet can be generated without electricity... actually you can make like 1000 of them so if the electricity ever goes out you will have a bunch to send Bitcoin (use your phone data or something) and use it like that. Although Bitcoin is based on electricity and technology so if it goes out then BTC is quite pointless.


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ployfit
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September 28, 2017, 09:48:05 PM
 #15

When there is no electricity, you can always trade in person using paper wallets. Paper wallet can be generated without electricity... actually you can make like 1000 of them so if the electricity ever goes out you will have a bunch to send Bitcoin (use your phone data or something) and use it like that. Although Bitcoin is based on electricity and technology so if it goes out then BTC is quite pointless.

You can carry mobile chargers, power banks, but they don't work forever.

Without electricity, you can never access to the blockchain, no matter what you're dealing with. You can't open your smartphone, computer anythin. So you can't access to your bitcoin or trading.
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September 28, 2017, 09:50:05 PM
 #16

without electricity there is no internet, and without internet there is no bitcoin, so simple as that, it is not difficult tu understand. But i dont think we are going to run out without electricity, you all know that nowadays almost all the stuff uses electricity, so what kind of world will be living on if there is no energy? that would be insane, i hope that is never going to happen. Of course bitcoin will die too.

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September 28, 2017, 09:55:32 PM
 #17

We hear in the news that many people in countries that have currency issues are starting to trade in BTC - for example, Venezula.

My friend asked me what about in regions where they lose electricity, how would they trade with BTC?

For example Puerto Rico is right now devastated by the hurricane, and many parts of its region don't have electricity.  A lot of people need to buy food and even fresh water.

Is there a way to still trade with BTC in such situations?  

Can P2P trade still occur despite having any connection to the greater block-chain network?  Keep in mind that it's easy to charge mobile phone so they have access to wallet apps, but probably not the Internet.

I don't know too much about mobile data networks, but I doubt one's 4G/LTE data plan would work in such situations.  I assume that data would have to be relayed to a tower/dish before it's sent to satellites.  Am I correct?


Of course you cannot trade or sell bitcoin when you dont have electricity and not only electricity but also the internet. Internet serves as a way to communicate to others as well as trading or selling your bitcoin. Without those two, you cannot transact to any people around you in terms of bitcoin. And lastly, if theres any calamities in your country, prioritize yourself first.
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September 28, 2017, 10:02:16 PM
 #18

If there is no electricity then you have bigger things to worry about than having access to your Bitcoin.  Most people don't have immediate access to more than $200 anyways.  I personally only carry maybe $35 cash and I never use it.
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September 28, 2017, 10:04:09 PM
 #19

We hear in the news that many people in countries that have currency issues are starting to trade in BTC - for example, Venezula.

My friend asked me what about in regions where they lose electricity, how would they trade with BTC?

For example Puerto Rico is right now devastated by the hurricane, and many parts of its region don't have electricity.  A lot of people need to buy food and even fresh water.

Is there a way to still trade with BTC in such situations?  

Can P2P trade still occur despite having any connection to the greater block-chain network?  Keep in mind that it's easy to charge mobile phone so they have access to wallet apps, but probably not the Internet.

I don't know too much about mobile data networks, but I doubt one's 4G/LTE data plan would work in such situations.  I assume that data would have to be relayed to a tower/dish before it's sent to satellites.  Am I correct?



Even without electricity, the main thing here is internet. ISP have big generators so still their towers is still working and you can used data on your phone. But worst case scenario since electricity is out as of the moment, your phone are prone of low battery. Saved that battery power instead to contact your relatives outside rather than to used it to access bitcoin as if you can used it since you have no way to withdraw it due to damages that typhoon brings.

Without internet you can't proceed in a fully confirmed bitcoin transactions. Without electricity, we can find a way as your country mentioned above is not that poor for even satellites will not worked too during a tragedy.

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September 28, 2017, 10:08:36 PM
 #20

Everything or aspect of bitcoin deal with electricity i.e mining, signature campaign, trading etc. Therefore, any countries that has issue of bad or no electricity can not or won't be able trade bitcoin due to the volatile in price because dump which will create a space for new trade can happen anything and time is everything.


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