joker_josue (OP)
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**In BTC since 2013**
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May 12, 2021, 10:19:03 PM |
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One thing that remains critical to using bitcoin is energy. Energy to mine, and validate transactions. Energy to trade. And energy to access our wallets. But is it possible, to be able to use Bitcoin even when we don't have energy?
Today, if I run out of electricity at home and want to go buy some batteries, for a flashlight, I can go to a store with some fiat coins and buy batteries. But that would not be possible if you want to make that purchase in Bitcoins. This remains a very good advantage for fiat coins.
How can Bitcoin overcome this problem?
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jackg
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https://bit.ly/387FXHi lightning theory
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May 13, 2021, 12:37:28 AM |
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Put a wireless charger on the payment processor or anywhere in the store. A contactless card is also being charged by the till when you put it on a scanner, it's one of the reasons you have to activate it first (I think) and definitely the reason why the more you use it, the easier it is to scan.
In Europe this is kinda already a thing if you have custom in a restaurant or a bank you could expect to use a plug if one is available. Many places also have charging areas too outside for homeless people and people on breaks from work etc.
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meser#
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May 13, 2021, 12:56:15 AM |
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If you have a potato or lemon farm you can do this bro: D It is necessary to take precautions earlier for such situations. Keeping some cash or storing extra battery etc. However, there is nothing to do if electricity suddenly goes out all over the world: D In such a situation, the world would be like a place of doom. What happens if electricity suddenly goes out all over the world? If you dont have any idea then you should watch this series https://www.imdb.com/title/tt2070791/?ref_=vp_backİmage source: https://en.wikipedia.org/wiki/Lemon_battery
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greyday
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May 13, 2021, 01:31:12 AM |
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If the world was suddenly without electricity we'd have much bigger problems than currency.
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Darker45
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May 13, 2021, 02:50:29 AM |
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We are still largely dependent on electrical companies. Power generation, transmission, and distribution are mostly provided by electrical grids so that when these operations are cut off, most of the houses, businesses, and other public and private establishments won't have electricity anymore. If Bitcoin were the main currency and payment system in such a scenario, commerce would also be highly disrupted.
However, in many urban centers, fuel-powered generators are always available to use whenever the main electric source is out. So business as usual. There is also a growing number of 100% off-grid business establishments and houses so Bitcoin transactions could still proceed despite power outages.
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masphie
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-= OI =-
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May 13, 2021, 03:02:22 AM |
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I think electric power is very dominant in all aspects, you could say that electricity is our main need at this time. Maybe bitcoin doesn't really care about electricity, and what really needs electricity is us. Because if we lose electricity then we can't mine bitcoin or anything else. Whereas bitcoin itself doesn't matter if there is no electricity.
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-= OI =-
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Anonylz
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May 13, 2021, 03:48:49 AM |
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One thing that remains critical to using bitcoin is energy. Energy to mine, and validate transactions. Energy to trade. And energy to access our wallets. But is it possible, to be able to use Bitcoin even when we don't have energy?
Today, if I run out of electricity at home and want to go buy some batteries, for a flashlight, I can go to a store with some fiat coins and buy batteries. But that would not be possible if you want to make that purchase in Bitcoins. This remains a very good advantage for fiat coins.
How can Bitcoin overcome this problem?
How can btc overcome this problem when it is regarded as digital currency, and by digital it means something that process numbers or digits which are not represented physically like you have in fiat, which like you said is a disadvantage to using cryptocurrency as against fiat currency, The only way I see this can be overcome is by having physical btc (if it will be possible) otherwise in a situation where there is total electricity outage there will be serious difficulties to access crypto.
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famososMuertos
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May 13, 2021, 03:53:25 AM |
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...//... :,,, How can Bitcoin overcome this problem?
-...Trust!! - / ____ Then, I'm actually not very clear with his point, if there is no electricity (!?) Common sense tells you ... wait for him to come back !! or not? Lithium batteries work very well and can last up to 24 hours, so cell phones work very well for transactions. In these times there are so many ways to generate energy. For confirmations !! the distribution of nodes around the world allows this to be done 24/7/365. ________ / - G.B.
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Sithara007
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May 13, 2021, 04:23:26 AM |
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One thing that remains critical to using bitcoin is energy. Energy to mine, and validate transactions. Energy to trade. And energy to access our wallets. But is it possible, to be able to use Bitcoin even when we don't have energy?
Today, if I run out of electricity at home and want to go buy some batteries, for a flashlight, I can go to a store with some fiat coins and buy batteries. But that would not be possible if you want to make that purchase in Bitcoins. This remains a very good advantage for fiat coins.
How can Bitcoin overcome this problem? The concern raised here is 100% valid, but the example being given is wrong. In case the electricity goes out for a few hours, we will still be able to use our laptops and mobile phones. And the internet connection will not be disrupted. Even if the electricity disruption lasts for a longer period, there are other options such as invertors and portable solar panels. And if you still insist, then we can use physical Bitcoins (such as the ones issued by Casascius many years ago).
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ranochigo
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May 13, 2021, 04:43:25 AM |
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Most of the posts assumes that the electrical outage is localized, which isn't the point of this post if I understand correctly.
The answer is not possible. If there is no electricity, then Bitcoin cannot function. The same happens if there is no way to communicate with others as the network cannot transfer information. Even if you were to use something like OpenDime or pre-signed transactions, there is no way to check it as the Blockchain cannot function. Your currency can only be something that doesn't require electricity to function and there would probably be far more serious issues to be concerned about at that point.
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Wexnident
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May 13, 2021, 04:53:36 AM |
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Err as long as the store you're going to accepts Bitcoin, I think you can still transfer funds to it even without electricity in your home (granted you have your phone with you and it's charged). If it wasn't though, then generally it isn't possible since a transaction's prerequisite is that you have a medium to use for transfer in the first place. Fiat uses hands, while crypto uses mobiles (at the minimum) I suppose. There may be other mediums, but in the end, those mediums require electricity so really without it, it isn't possible.
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maxreish
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May 13, 2021, 04:55:24 AM |
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There are other source of energy, Sun for example can be used as a solar energy that can distribute electricity. Bitcoin definitely can not work without the energy but since there are many ways to acquire energy, then bitcoin can still work using those alternative method. Aside from the source of energy we are using right now, wind energy can also be an alternative.
So, you see. We can still mine bitcoin using those various source of energy. But then again, fiat is more accessible because of its physical existence.
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AniviaBtc
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May 13, 2021, 04:58:54 AM |
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If the world were to suddenly run out of electricity, there will be huge detriments not only in the economy but practically to every aspect of every one's life. Hospitals will be practically useless. Along with supermarkets, malls, facilities, and by stretch even agriculture and food production. We'd all die of starvation, some will die due to diseases, and some due to the panic and mental stress the event will cause.
Nowadays, in our generation, it is really hard to live without electricity as our lives revolve around it. Imagine living in the dark when the night comes, imagine society without communication, do you think we can endure that? How much more in bitcoin, it is a digital currency that only exist in the internet, It will surely fall and also I think cash will also become worthless.
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bL4nkcode
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Limited in number. Limitless in potential.
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May 13, 2021, 05:00:07 AM |
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Bitcoin is dependent on energy-electricity from your phone/desktop/tablet's battery where your wallet is installed which also require internet to connect the blockchain for validation that also needs energy/electricity to work.
As for your question, we will go to the argument that bitcoin is just an alternative to fiat not replacement. So the use of bitcoin can't solve that.
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stompix
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May 13, 2021, 06:05:42 AM |
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Most of the posts assumes that the electrical outage is localized, which isn't the point of this post if I understand correctly. The answer is not possible. If there is no electricity, then Bitcoin cannot function. The same happens if there is no way to communicate with others as the network cannot transfer information.
Exactly, pretty weird that when clearly the OP says no energy something it's just that the power grid is down and they as an individual will get a new power source. But what about the others, miners, nodes, what about the guy who would receive that transaction, how is he supposed to get power? The clear answer is that Bitcoin can't exist without electric energy just as card payments will not. Bitcoin definitely can not work without the energy but since there are many ways to acquire energy, then bitcoin can still work using those alternative method.
And how can a protocol that is a bunch of code be able to acquire energy on its own? The question was pretty simple, can bitcoin work without energy? No, it can't! Until Bitcoin Core comes with a pack of nanobots that on install they strat building a solar panel and a wind turbine connected to your computer the whole network will still be depended on the power grid, just like every dan thing in our lives, from the coffee maker I just used to the computer I'm typing this answer.
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iTradeChips
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May 13, 2021, 06:22:55 AM |
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Let us just say in a world without electricity, I think the obvious question is, what will happen to the blockchain? Is it something like a database file that can be reactivated once the main computer housing that database can be turned on after a few years of no electricity? We know that in blackouts, the internet guarantees that the information would be available anywhere in the world since some part of the world is still connected. But if the whole world is without electricity, then aside from losing the blockchain access (your wallet is safely stored in your computer), then all other aspects of the world that needs electricity will be affected as well and we will all be preparing the dark ages.
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joker_josue (OP)
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May 13, 2021, 07:07:59 AM |
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Most of the posts assumes that the electrical outage is localized, which isn't the point of this post if I understand correctly.
Exactly! Perhaps the example I set was not the best. But the point here is, that if there is a more widespread power failure (I don't even say it is global) the use of bitcoin is no longer possible. It is common to say that the person must have a small reserve of money, along with the emergency kit, in case of a natural catastrophe. It is not possible to do this with bitcoin. Of course, the lack of energy in such a situation is the least of our problems. But was there any way to make bitcoin, something that can be used in a scenario where electricity is not an option? Perhaps that is impossible. Even because it happens, with the money we have in the bank, if there is a general lack of energy.
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zanezane
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May 13, 2021, 07:37:53 AM |
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If the world was suddenly without electricity we'd have much bigger problems than currency.
Exactly, money is the least of our worries because our civilization just warped back in stone age condition when all of electricity around the world is shut off indefinitely, and with the first 24 hours, millions are going to die.
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Bilgent
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May 13, 2021, 09:16:49 AM |
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Bitcoin mining actually don't have to use only electricity. Renewable energy can be used and there will be no need for high electricity consumption anymore. Besides, renewable energy already started being used for mining and I hope it will cut the need for electricity completely in time.
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Alucard1
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May 13, 2021, 09:53:42 AM |
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Almost every aspect of our lives would be a problem once we get out of electricity, Electricity is very important in our lives especially in the economy and I don't think that choosing a currency to use would be the main problem once we have that kind of problem, our economy would suffer from it because for sure all of the business and companies will get closed once they don't have electricity anymore. Based on your thread, it shows that there are still a lot of things that bitcoin cant do that fiat can do for us, bitcoin still needs something to improve to be used as the standard currency in the future.
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