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Author Topic: Is it possible to use bitcoin like offline currency?  (Read 2942 times)
palle11
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November 14, 2017, 05:13:08 PM
 #141

Its not just about bitcoin only,any digital currency will not work without internet.but in future exchanges will start issuing voucher type of code which can be traded offline ,if you paying or giving it someone else.but in that case also you need internet connection to apply it.so digital currency or virtual currency is different from fiat thats why it is called digital currency.

Really and except something like a magic happens, bitcoin might not be accessible without the internet and especially because blockchain technology is internet based. This is one thing that differentiates bitcoin from paper money.

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November 14, 2017, 05:27:06 PM
 #142

The truth is all cryptocurrency is an online currency, buying or selling it requires Internet cause it's not a physical currency.
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November 14, 2017, 06:15:27 PM
 #143

Its not just about bitcoin only,any digital currency will not work without internet.but in future exchanges will start issuing voucher type of code which can be traded offline ,if you paying or giving it someone else.but in that case also you need internet connection to apply it.so digital currency or virtual currency is different from fiat thats why it is called digital currency.

Really and except something like a magic happens, bitcoin might not be accessible without the internet and especially because blockchain technology is internet based. This is one thing that differentiates bitcoin from paper money.
It would turn out to be more hassle if we do have those kind of system which do have an offline voucher incase if theres no internet. Then what would be the purpose of physical money? This would really be just a senseless idea and come to think off that internet would be gone,its an impossible thing knowing that most things now do need internet and if its lost then there would really be a big problem.

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November 14, 2017, 10:07:35 PM
 #144

BItcoin is an online used payment transaction not use for offline purpose. That's why if you have no internet bitcoin will be useless only and won't give you a profit anyway. So if you like to have bitcoin profit , you must have an internet connection.


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November 14, 2017, 10:25:49 PM
 #145

There will definitely be limitations. First, it is decentralized and second, it is not yet widespread

yea. there will likely be. so i guess the obvious answer to the thread question is a NO!

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November 14, 2017, 10:55:25 PM
 #146

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?
There are some countries that have legalized bitcoin and in those countries can already use bitcoin as a tool for payment. You do not need to be confused to answer the question, you can say bitcoin can be an offline payment tool if the seller accepts bitcoin as a means of payment.



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November 14, 2017, 11:00:47 PM
 #147

This is one thing that differentiates bitcoin from paper money.

Largely, yes. However, paper money is nothing more than a 'promise' that you have a certain amount of funds. In the same way, a paper wallet containing a private key with a certain Bitcoin value too. Difference is that people everywhere in the world will accept paper money as long as it is not counterfeit, while with a paper wallet the far majority of the people will just ignore you since there is no way to verify its actual value. If the government for whatever reason decides that they will deem your paper money not valid anymore, you from that point hold a bunch of worthless paper bills that no one will accept anymore.

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November 15, 2017, 12:27:26 AM
 #148

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?

Bitcoin is a digital currency, an internet money and has no physical form, every transaction made with Bitcoins requires internet connection. Your friend can somehow exchange his Btc to your currency so he could use it offline. The only thing that you can do offline with Bitcoin is storing it in an offline wallet, for security purposes, but using it on a certain transaction is impossible offline. This is one of the disadvantages Bitcoin posses. Bitcoin rely on internet.

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November 15, 2017, 01:16:38 AM
 #149

Hmm.... Convinced and confused both together
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November 15, 2017, 04:49:46 AM
 #150

Its not just about bitcoin only,any digital currency will not work without internet.but in future exchanges will start issuing voucher type of code which can be traded offline ,if you paying or giving it someone else.but in that case also you need internet connection to apply it.so digital currency or virtual currency is different from fiat thats why it is called digital currency.

Really and except something like a magic happens, bitcoin might not be accessible without the internet and especially because blockchain technology is internet based. This is one thing that differentiates bitcoin from paper money.

As of this moment, bitcoin is impossible to use on offline currency because some countries didn't implemented bitcoin, though they knew about it but most people were lack of knowledge about bitcoin.Bitcoin is a crypto currency or a digital currency that only lives in the cyberworld which means we can only use bitcoin during online. I would say that it might be happened soon if it is already recognized and legalized throughout the countries soon ,since its popularity and demand are getting high, as value as well to have a good profit and better future for each and everyone of us.

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November 15, 2017, 07:24:14 AM
 #151

Bitcoin is a online currency that we use in online transaction or online market and we don't really need a offline bitcoin cause we got money in our pocket.
It is not only bitcoin but all other coins which are there in the world of crypto currency whom we cannot use as offline currency. It is because of the reason that the main concept behind digital currencies is that we need to have an internet connection if we really want to deal with any kind of crypto currency. There is no way using which you can use bitcoin as offline currency. There will be a need of internet.

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Today at 07:20:28 AM
 #152

Bitcoin can only be use in offline shop if the person has bitcoin Master Card, which you can now use it at POS, but to use bitcoin as Fiat, i don't think it will be possible.
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Today at 08:14:33 AM
 #153

I thing it not possibly to use the bitcoin witch out internet. No internet not use for the bitcoin process. Bitcoin is online process. So it need to network process. If need to use the bitcoin for the networking process. SO country it will can't communicate other currency. Bitcoin is future currency. So it will use only for the network process. Offline currency not good to use for the future transaction. Bitcoin easy way to transaction. 

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Today at 01:47:59 PM
 #154

I believe a paper wallet could be used for this. Usually on paper wallets you have printed address, amount of btc on it and private key which is hidden. However in order to be sure, you would need to check the address and for this you would need internet.
Being used as an offline currency is more like being able to use it to pay for goods or you doing withdrawals without having to go online. There is no way on earth that paper wallet can help you to achieve this. Paper wallet is just a cold storage where you can receive your funds by just giving out the public address.

You will still need to go online to be able to access your funds with your private key which does not play out as offline since you can still collect your funds even on online wallets without having to visit your wallet until you spend it anyway.



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