Bumblecoin
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June 08, 2018, 11:32:26 PM |
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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?
It is very difficult if that will be the case. Without electricity, makes almost all things in this planet very hard to deal with, example transportation, food production and other important daily activities. |
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"This isn't the kind of software where we can leave so many unresolved bugs that we need a tracker for them." -- Satoshi
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bobbyjonathan
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June 09, 2018, 09:24:19 PM |
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Jeez so much hostility to a hypothetical question lol. Maybe the guy wants to actually use his bitcoin to buy necessities idk. I don't think it's possible to use bitcoin offline though. If the crypto grows further, I think this is something they'll need to implement fast
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teejayrichard2
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June 09, 2018, 10:16:58 PM |
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If thers no electricity, nothing can be done. No trading can take place. As i imagine, a disaster as the one you have talked about will cut of any electricity and even the network, so the bitcoin or any other cryptocurrency cant be used for trading nor buying or selling. Other methods will ahve to be used, say FIAT. Do bnot forget, cryptocurrencies are virtual currencies
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s2sallbygrace
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June 09, 2018, 10:20:03 PM |
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No one can do transactions in cryptocurrency without electricity. Electricity is the main souce of cryptocurrency and without it crypto cannot operate. There is no way you can use your crypto in calamities like that, because everyone is busy surviving. Trading transaction can only be done online, without electricity system will be shutdown.
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Ikay
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June 09, 2018, 10:25:07 PM |
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There are many ways to have electricity we have solar panels that can supply electricity to have internet and turn on the desktop so no one should worry if there is no electricity on your country.
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a2offrb
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RISE WITH RAYS FOR THE FUTURE
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June 09, 2018, 10:36:08 PM |
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If for the purpose of lack of Electricity alone, alternative solution like employing the use of Generator, Sound proof especially in case of Industrial mining and other Diesel/petrol use Generators in cases of Individual or Private mining of BTC can be effected or implored. However, if it now bugs on the issue of Internet, I feel I'm short of words in such Economy, The miners or Users of BTC can only keep their stored funds safe in paper wallet or Hardwares such as Ledger Nano S and wait until this issue is resolved. Or better still implore the assistance of trusted friends in another country they travel to if the situation now becomes obligatory.
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tamarindbleu
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June 09, 2018, 11:53:56 PM |
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There are many ways to have electricity we have solar panels that can supply electricity to have internet and turn on the desktop so no one should worry if there is no electricity on your country.
The only thing will happen when there is no electrcity is all people here in crypto will be dissapointed because there money is in cryptocurrency and they can not sell there bitcoin and used there money specially when there is no electricity and internet in this world. |
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Ayaah
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June 10, 2018, 12:46:37 AM |
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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?
We are now in millennial time, I think if there's a problem of electricity shutdown. We don't have to be worried because we can use a Generator or solar panels electricity to run our transaction in trading with BTC. |
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jassanpary
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Arianee:Smart-link Connecting Owners,Assets,Brands
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June 10, 2018, 02:25:33 AM |
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There are many ways to have electricity we have solar panels that can supply electricity to have internet and turn on the desktop so no one should worry if there is no electricity on your country.
Very basic requirements for accessing bitcoin is mobiles, computers, laptop and off course internet we know that they work by the power supply, if there is no electricity means no ways of accessing the bitcoin. We are dependent on the electricity, so need to look alternate ways to generate electricity. |
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ArIMy11
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June 10, 2018, 06:08:41 AM |
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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?
We can't trade of course if there is no electricity. If there will be no electricity because of natural disaster, it's okey. It is a normal thing. But if there will be no electricity for good that is impossible to happen. We are not the only one who needs electricity. The whole country, the Government, other business man also needs it. |
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Nissan-GTR
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The Exchange for EOS Community
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June 10, 2018, 06:32:01 AM |
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If there's a natural disaster cutting off electricity for days, trading bitcoin should be least of your worries really. Priorities man.
This made my mind laugh, which is basically true since it's already a serious disaster if electricity was cut for more than days. If you are talking about sudden electric shock which may cause your place to cut from electricity then I think it would be hard for you to trade without electricity specially if you are running loe of batteries, better to have generator at home that stores electricity when you will need it. |
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kendedese
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June 10, 2018, 06:41:51 AM |
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Are you serious ? trading bitcoin is not like trading clothes or snacks in the market or in supermarkets. this question does not make sense.
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MrRiuss
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June 10, 2018, 06:43:17 AM |
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if no electricity, of course nobody could trade with btc.
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Godexists
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June 10, 2018, 07:48:43 AM |
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Well in that situation you can buy a generator. or go to a place does have electricityi.but then again most cases will be difficult.in the absense of electricity the internet will be down and the bitcoin transaction are required in active internet connectivity.
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Legwist
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June 10, 2018, 11:18:17 AM |
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Actually if there is no electricity,the transaction of cryptocurrency would not been happen. So generally, if you really wanted to trade in BTC but worrying about the electricity issues, then stop right there because you might end up just wasting your time.
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Cita1
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June 10, 2018, 12:22:34 PM |
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if no electricity, of course nobody could trade with btc.
If you really need the money to trade and no electricity due to natural disaster you can use a generator and trade. Else you can use a car battery and trade or you can go to another place so that you can trade. There are a lot of initiative to do in order to trade and make money to be use for the family. |
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PonyBoy
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June 12, 2018, 01:36:03 PM |
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If there is just 2% of americans who actually use cryptocurrencies or bitcoin in particular for polls, then why aren't we questioining the safety of digital currencies that the rest of people decide to use?
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Red Fish
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June 12, 2018, 01:50:26 PM |
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If there is not electricity, computers can not work, so no BTC transfers and also BTC mining. In many countries this can be real headache, like in Africa, India, Venecuela etc. But if you can install own electricity power station, like from wind or water, you can avoid this problem.
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margaret22
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June 12, 2018, 02:04:30 PM |
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The lack electricity may not be a big problem, as we all have cell phone, with battery, and probably some extrenal batteries as well  But if the internet is also gone, well, that could be problematic for making a Bitcoin transaction. |
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GunsLair
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June 12, 2018, 02:05:53 PM |
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If a natural disaster has come to your country, then it seems to me that all thoughts should be aimed at preserving one's life. It will not be possible to trading. It is clear that in Venezuela BTC is the most preferred currency for trade. But for sure there is also a fiat money for which you can buy both water and food.
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