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Author Topic: Is it possible to use bitcoin like offline currency?  (Read 7106 times)
malikusama
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October 28, 2017, 01:13:17 PM
 #21

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 quite simple if you know about the bitcoin and blockchain technology. We can't do it because the transactions are on public ledger (blockchain) which require internet for confirmation and process. May be in future we will find a way out to use it offline too but still we are unable to so.
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October 28, 2017, 01:16:29 PM
 #22

There is OpenDime

I just looked through some videos explaining what it does, and what I find the most interesting part, is the fact that the private key gets generated at initial setup. In other words, even the manufacturer where it comes from will not have any clue about what the private key might be (great for paranoid people like me). I am not much interested in the aspect of using it to spend it as cash, but it definitely looks like a decent and cheap way of using it for P2P trading purposes without needing to transact on-chain. I'll do some more research on this and will likely buy it afterwards - thanks for pointing out. It shows that at least someone is contributing with worthwhile posts.

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October 28, 2017, 01:27:55 PM
 #23

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?

Since everything that is offline is static, it is only used in storage, which means no more than storage.



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October 28, 2017, 01:35:12 PM
 #24

maybe if directly bitcoin into offline payment is impossible, because bitcoin works online, its mean that bitcoin transaction need internet connection, from send, receive, and check balance. but it will possible if there are 3rd party that open a project that will convert bitcoin into card balance maybe, like visa card or like android pay (NFC)

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October 28, 2017, 02:57:24 PM
 #25

I think it will be hard to think of something to use bitcoin offline because firstly, it was made for online purposes that is why it is build online and the foundations would be very hard to change.
Secondly. Transactions are based on web.
Most probably some are already thinking ways to manage this.  Some have virtual cards as proposed and it's involved in some project but I think it would still need time.  I think it would be awesome having bitcoin offline as payment. Maybe when it's already in wider use.
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October 28, 2017, 03:13:01 PM
 #26

IMO, bitcoin at the present can not replace offline currency. Bitcoin is only traded online. If the Internet becomes popular, people will be able to access it everywhere. Bitcoin will probably replace offline currency. In my country, a number of universities have begun to pay tuition fees by bitcoin  Grin
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October 28, 2017, 03:25:59 PM
 #27

I think it's not possible cryptocurrency are made for online purposes without internet there's no cryptocurrency. It will shut down and lots of investment will be lost, especially to the large companies that invest in bitcoin. You can't send or receive bitcoin without internet. the connection is essential it is the brain of trading. That is one of the risk factors of having a large amount of bitcoins but don't worry, the chances that it will happen is so small especially our technology is improving same on the internet.
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October 28, 2017, 03:29:38 PM
 #28

Technically, this is possible. This has been proven by many users. But no one will want to do this and complicate their lives. Btkoin is the currency for online payments

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October 28, 2017, 04:19:20 PM
 #29

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?
From the word itself you could already answer that stuff from the wordonline currency then its understandable it is really be used for online transaction knowing that bitcoin doesn't have physical form which can be used on offline just like on local fiats.For now adoption doesn't reach on that state where bitcoin can be used like fiats and I do believe it would just still remain as it is.Bitcoin is solely being created for that purpose.It might be adopted later on but it wont really come to a point to be used offline.Hope this explanation would help you out.

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October 28, 2017, 04:20:16 PM
 #30

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?
The bitcoin system still runs online. But if you mean offline store then it could happen, now it's a lot of offline stores that start receiving bitcoin like restaurant and some seller of electronic goods. So make sure that nowadays many bitcoin users understand this. Bitcoin still uses the online system and requires an internet connection to make transactions.

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October 28, 2017, 05:03:09 PM
 #31

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?

Actually it's possible to use bitcoin in offline marketplace. The problem is are there any place that accept bitcoin in real life as the payment ? Because it's really rare especially in my country. I don't know about other country but there is no marketplace or shops that accept bitcoin here, maybe it will happen in the future.

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October 28, 2017, 06:45:36 PM
 #32

Technically, this is possible. This has been proven by many users. But no one will want to do this and complicate their lives. Btkoin is the currency for online payments
I just think that using bitcoin offline is not possible, because bitcoin usage requires access to internet and internet connection is the main capital to make payment using bitcoin. and for offline use I never thought that it could really happen, but all there is a way, and could be realized and mingkin there is an application that supports it without the internet
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October 28, 2017, 07:05:43 PM
 #33

Crypto currencies were all created online. Bitcoin is all about online based crypto. As of now, the bitcoins based transactions can be done only online. Hope to have all other options like other currencies would be set soon. We can expect this happen as bitcoin is in line with massive growth.

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October 28, 2017, 09:01:33 PM
 #34

Technically, this is possible. This has been proven by many users. But no one will want to do this and complicate their lives. Btkoin is the currency for online payments

Technically it's possible? Yes it's possible but there's no confirmation from the blockchain network if there's no internet. We know that bitcoin needs internet in able to be used. And that's why we can't use bitcoin if we are going to use it as an offline currency. All crypto's require internet in able to send to other wallets so if you really want to use bitcoin offline, you are doing it wrong.

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October 28, 2017, 11:46:39 PM
 #35

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?
No I don’t think so because bitcoin is a digital currency and digital means no physical existence and no physical existence means that no one can use it offline. You must need computer and internet to use your bitcoin. Your account is computerized and computerized means need computer to use. That’s why I think that bitcoin cannot be used offline. It can be used only online and need with computer and internet.
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October 29, 2017, 12:47:17 AM
 #36

Not possible, but the world is getting so connected that it shouldn't be a problem in the future.
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October 29, 2017, 01:28:30 AM
 #37

It's possible to use bitcoin on a day to day transaction like fiat it depends on the place if they accept alternative payments but I wouldn't use them on small transactions like food and drinks because the transaction fees are skyrocketing as of the moment 70k satoshi or $4  just to get a fast confirmation. Fiat is much better to use and you'll save more if you think about it.

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October 29, 2017, 02:06:02 AM
 #38

Indeed bitcoin can only be used in an online store and market right now but it is slowly making making progress from surpassing that limit to be able to use online bitcoin as of now is developing bitcoin ATMS, and physical coins that can be used to buy goods and daily neccessities i believe there is an article in the web about it . Bitcoin is open source so its not impossible for people to find ways to use it offline.

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October 29, 2017, 10:29:33 AM
 #39

Bitcoin is a digital currency and so it could not be used offline.But if a reputable company comes forward and issues physical coins for bitcoins and gives assurance that it would pay for the current market price of bitcoin if that physical coin returned,then there is a chance for bitcoin to be used offline.

But the big question is that which company would come forward to do so and how many people will trust it.Since there is no central authority for bitcoin being a decentralized currency,it seems highly impossible for that to happen.
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October 29, 2017, 06:08:51 PM
 #40

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?

If you are asking it for now in our generation, my answer is not possible. Because, we all knew that bitcoin can only be used through internet connection and nothing else. Meaning, no internet bitcoin is useless for sure.

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