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Author Topic: Is it possible to use bitcoin like offline currency?  (Read 3274 times)
Sohailul
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October 27, 2017, 06:57:37 PM
 #1

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?
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October 27, 2017, 07:26:55 PM
 #2

my opinion can not be used to spend bitcoin units in the offline market ,bitcoin has not been designed like gold that is easily redeemed in the offline market ,tell your friends bitcoin can not to spend on offline ,however can be used over to internet ,dont worry bitcoin growing rapidly in the future may be possible to shop in the offline market

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October 27, 2017, 07:32:30 PM
 #3

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?
This bitcoin is cannot be used as offline because its nature of bitcoins and its design for online purpose as its growing and peoples doing hard work for spreading this hope they will do something for this also and we will able to use this offline but its very hard


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October 27, 2017, 07:48:41 PM
 #4

Bitcoin needs internet to survive. But someone could create a business which sell physical coins for BTCs. Example: You give me 1 BTC and I give you physical coins worthing 1 BTC to spend "offline", but first this feature should be supported by several stores to have effect... Maybe governments can create this feature in the future.

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October 27, 2017, 08:22:08 PM
 #5

Internet is the most important thing everyone need to be able to use Bitcoin so using Bitcoin in offline market I think it's impossible Smiley). If your friend still want to know the answer I think you just need to ask him that "Do you think a fish can live without water?" or "Can you live without Oxygen?" Smiley). I believe he will never asking you that question again Smiley)

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October 27, 2017, 10:48:07 PM
 #6

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?
It's not possible to use Bitcoin without the internet. You need to be connected to the internet in order to get your transactions on the blockchain.

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October 27, 2017, 11:21:54 PM
 #7

Bitcoin will only be produced with the help of the miners > miners can't mine without mining rig and internet. And as we send bitcoin, we need miners to make our transactions confirmed or else our payments that was sent to the market will not be confirmed. We can't use bitcoin offline because it's major need is the internet so without the help of internet the whole bitcoin market is going to be dead. Even you'll send them your payment but without internet you'll get stuck.

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October 28, 2017, 02:23:03 AM
 #8

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?
We know that internet is most important element for bitcoin. Without internet, we can't think the process of bitcoin. It is an online based crypto currency. It is not designed for offline. For transaction and use it, internet connection is must be needed.

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October 28, 2017, 03:49:13 AM
 #9

I’m even curious to know how paper bitcoin works.. I’ve want to try this option on storing bitcoin and if we can used it on purchasing in a store accepting bitcoin as payment.. This would answer our question and might be a good way of spending bitcoin with a hard copy like cash..

For the maintime maybe we need to be honest that online currency can’t be used without internet..

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October 28, 2017, 04:05:03 AM
 #10

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?
As we know bitcoin was designed to make transactions faster than regular method we use in transferring fiat currency.
Bitcoin has no physical shape, it can be stored offline in paper wallets, hardware wallets like trezor, electrum but must have internet connection to pay for goods or any other services.
Not possible to be paid offline,this is the uniqueness in digital currencies

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October 28, 2017, 05:28:36 AM
 #11

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?


Its not possible we can only use bitcoin online so if theres no internet we cant access it.

There is no way to use it offline like physical money, i think this is one of the few reasons why many are still not aware of the existence of bitcoin, if you dont have connection then you wouldnt know whats happening online.


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October 28, 2017, 06:52:35 AM
 #12

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?
Yes you are right we can not used bitcoin in offline market also you can not access your bitcoin if you have no internet connection, there is an option to used bitcoin just exchange it to cash and spend it anywhere you want but direct bitcoin is impossible nowadays.

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October 28, 2017, 07:29:56 AM
 #13

Theoretically it is possible to create, sign and "broadcast" a transaction offline (at least broadcast it to vendor/partner/..).
But without the internet this transaction can't be verified, therefore its not valid yet.
Bitcoin wont die without internet from one second to another.. but its not usable as a currency as we expect it.
You could also, theoretically, fork off from bitcoin and "use" this forked chain/coin on an intranet.
This still would be "offline".. but you definitely need connection to other miners/nodes.

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jvdp
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October 28, 2017, 07:55:31 AM
 #14

Theoretically it is possible to create, sign and "broadcast" a transaction offline (at least broadcast it to vendor/partner/..).
But without the internet this transaction can't be verified, therefore its not valid yet.
Bitcoin wont die without internet from one second to another.. but its not usable as a currency as we expect it.
You could also, theoretically, fork off from bitcoin and "use" this forked chain/coin on an intranet.
This still would be "offline".. but you definitely need connection to other miners/nodes.

May soon in future we may find the offline OQ code transaction facility for the bitcoin transaction. I do research about it is that achievable to make software which transfer the bitcoin with in mined by the mobile processor and transaction to be reached to destination wallet with in few seconds. Network blocks should increase double the amount now.
If any corporate work on this idea surely they will get into the more business by create a software for this.

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katinko
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October 28, 2017, 08:04:55 AM
 #15

Offline transaction in bitcoin is not yet possible, because it is digital currency and no physical money to spend in offline market. But i think more years past dev will develop or create coin or paper money to used for offline.
krishnapramod
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October 28, 2017, 11:08:21 AM
 #16

Bitcoin is accepted as a currency on both online and offline/physical stores, but offline transaction is a bit tricky, but not quite impossible.

There is OpenDime, Bitcoin credit stick that allows you to spend Bitcoin like a dollar bill. It's a hybrid between hardware wallet and physical Bitcoin, disposable hardware wallet to be used as cash. You can load OpenDimes with various denominations of Bitcoin and spend preloaded OpenDimes offline on Bitcoin accepting physical stores. It isn't cost-effective for small amounts of transactions.

https://opendime.com

audaciousbeing
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October 28, 2017, 11:25:34 AM
 #17

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?

At the present moment today, bitcoin cannot be used offline because without the internet, even offline desktop wallet won't synchronise and nothing can be done. Maybe in the future based on the news I read some months back about a project that is looking at launching a satellite that intends to make bitcoin available offline through the use of USSD or something like that, we still have to do with what we have currently which is ensuring one is online to send and receive.

However, its not necessary that the market needs to be online as if I own a store, you walk in and I tell you to pay me bitcoin, even though you pay online, my shop is offline and the market is also offline.

Ayush rana
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October 28, 2017, 11:36:53 AM
 #18

In my opinion bitcoin cannot use as offline currency because no one had seen bitcoin that how it actually it looks and the another most important thing is bitcoin is a digital currency which means you have a access to internet for its use.

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October 28, 2017, 12:02:04 PM
 #19

Bitcoin is accepted as a currency on both online and offline/physical stores, but offline transaction is a bit tricky, but not quite impossible.

There is OpenDime, Bitcoin credit stick that allows you to spend Bitcoin like a dollar bill. It's a hybrid between hardware wallet and physical Bitcoin, disposable hardware wallet to be used as cash. You can load OpenDimes with various denominations of Bitcoin and spend preloaded OpenDimes offline on Bitcoin accepting physical stores. It isn't cost-effective for small amounts of transactions.

https://opendime.com

How it is option for the offiline stores I do not think these kind of stores accepted the bitcoin because the transaction will be made the online wallet application or through any desktop but we need effort of miners to help in the transaction right! then how it is possible for offline transactions.
Where is location you said that store is located.

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pecson134
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October 28, 2017, 01:08:36 PM
 #20

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 think this is difficult to do because mostly or all of bitcoin transactions were using the internet to accept, pays, sells, or buy something using the said currency. If there's a system(I don't know if there are yet or I'm just not familiar) that will make your bitcoin accessible offline like those papers then this would be possible to happen.

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