Bitcoinbikers (OP)
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July 29, 2014, 01:02:01 AM |
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If the internet goes down so does bitcoin though, am I right?
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Mitchell
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July 29, 2014, 01:04:30 AM |
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If the internet goes down so does bitcoin though, am I right?
That is a huge if you got there, but yes, Bitcoin would go down as well. However, I am currently following a team that is trying to send Bitcoin data using DVB-T (Radio Waves). Something like that might be able to prevent Bitcoin from going down.
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Bitcoinbikers (OP)
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Now that's a can do attitude!
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July 29, 2014, 01:07:05 AM |
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If the internet goes down so does bitcoin though, am I right?
That is a huge if you got there, but yes, Bitcoin would go down as well. However, I am currently following a team that is trying to send Bitcoin data using DVB-T (Radio Waves). Something like that might be able to prevent Bitcoin from going down. That's awesome! Another point I'd like to make, government can regulate the internet through ISP's therefore can they not regulate bitcoin? As in if anyone is caught doing bitcoin transactions there ISP contract gets revoked? and can't they see this kind of activity on your internet connection?
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1D6p2j56E4sTsjC7raahVm8HVEmWHMFFma
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beetcoin
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July 29, 2014, 01:07:54 AM |
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at the very least, bitcoin priced would crash big time if the internet went down. but how likely is that?
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Mitchell
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July 29, 2014, 01:09:41 AM |
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That's awesome! Another point I'd like to make, government can regulate the internet through ISP's therefore can they not regulate bitcoin? As in if anyone is caught doing bitcoin transactions there ISP contract gets revoked? and can't they see this kind of activity on your internet connection?
That would mean that all governments in the world should work together. Do you really think that will ever happen? I highly doubt it. Also, it would require deep-packet scanning, something that goes against the Neutral Internet act (or however it's called).
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Mitchell
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July 29, 2014, 01:10:24 AM |
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at the very least, bitcoin priced would crash big time if the internet went down. but how likely is that?
How can you sell without internet? How can you transfer coins without internet? You cannot, thus no crash can happen. The market would be compeltely frozen.
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waldox
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July 29, 2014, 05:08:41 AM |
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you can send bitcoin thru morse code or HAM radio when internet goes down
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Bitcoinbikers (OP)
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July 29, 2014, 05:14:06 AM |
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you can send bitcoin thru morse code or HAM radio when internet goes down
mmmm ham
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TheButterZone
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July 29, 2014, 05:17:32 AM |
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you can send bitcoin thru morse code or HAM radio when internet goes down
I ran a 440 byte hex transcation through a morse code generator at 80 WPM (assuming digital decode) to see how long it took. 3 mins 20 secs. Don't think you want to morse it.
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Saying that you don't trust someone because of their behavior is completely valid.
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Fioraver
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Gamblica Pre-Sale launch 01.03.2018!
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July 29, 2014, 05:30:43 AM |
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you can send bitcoin thru morse code or HAM radio when internet goes down
I ran a 440 byte hex transcation through a morse code generator at 80 WPM (assuming digital decode) to see how long it took. 3 mins 20 secs. Don't think you want to morse it. Morse code, your idea is great.
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Kazimir
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July 29, 2014, 07:14:23 AM |
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Another point I'd like to make, government can regulate the internet through ISP's therefore can they not regulate bitcoin? No. 1. No need at all to broadcast transactions from your own IP or ISP connection. Plenty of ways to do so through other hops, in other countries/jurisdisctions. 2. I doubt if there is a way to detect (and thus, block) Bitcoin traffic that can't easily be overcome by means of encryption, packet wrapping, etc. 3. Tor. 4. Besides internet, there are already alternative ways of running Bitcoin P2P traffic, like radio waves, SMS / texting, etc. 5. What do you mean by "regulate"? Other than just trying to block it (which won't work, see previous points) there isn't much they can do. It's not as if they could put arbitrary restrictions on Bitcoin transactions, like they can (and do) with bank transfers.
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Kazimir
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July 29, 2014, 07:18:03 AM |
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If the internet goes down so does bitcoin though, am I right?
Well, Bitcoin would be temporarily on pause. Nothing gets lost, the network isn't destroyed, and bitcoins don't disappear into thin air or something. The dollar and euro (which consists of >99% internet traffic nowadays) would go down as well, by the way. Do not think for a second that cash can compensate for this. at the very least, bitcoin priced would crash big time if the internet went down. but how likely is that?
You're wrong sir, the euro and dollar are more dependent of internet than Bitcoin. If internet went down, euro and dollar prices would plummet, thus Bitcoin would go moonward.
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Meuh6879
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July 29, 2014, 07:23:16 AM |
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what a problem ... go to the church of your village. deploy an antenna. install a wifi router. plug an old desktop with server activate. plug an USB Bitcoin miner (333MH/s). use an old blochchain and bitcoin client. and you have bitcoin. customers must connect to wifi to pay with bitcoin.
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chronicsky
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July 29, 2014, 07:59:24 AM |
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i don't know about bitcoins , what if internet goes down , then half of our lives too
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davida
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July 29, 2014, 09:00:07 AM |
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zetaray
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July 29, 2014, 09:18:58 AM Last edit: July 29, 2014, 09:40:10 AM by zetaray |
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If the internet goes down, bitcoin is the least of your worries. Email, news, global trades, global phone networks will cease, people would panic. Personal safety and food would be your priorities. Who would care about bitcoin?
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Bitcoinbikers (OP)
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July 29, 2014, 09:21:59 AM |
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Why don't we all invest in gold though? it's not as volatile and is always rising, always holds its value, has been around for thousands of years, has real value, can be used regardless of the internet/electricity situation and in crisis skyrockets in value. It is probably more rare than bitcoin, has been used as currency for millenia, no one can take your gold if you have a good safe, gold is tax free, I could go on for hours here!
no brainer?
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1D6p2j56E4sTsjC7raahVm8HVEmWHMFFma
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ljudotina
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July 29, 2014, 09:28:35 AM |
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If "internet goes down" you will have much larger problems than Bitcoin...trust me... So many very important financial and military stuff relies on Internet, that, if it ever goes down, you can expact shitstorm comming our way, that is so large, that you wont think of Bitcoin for quiet some time.
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ljudotina
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July 29, 2014, 09:31:44 AM |
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Why don't we all invest in gold though? it's not as volatile and is always rising, always holds its value, has been around for thousands of years, has real value, can be used regardless of the internet/electricity situation and in crisis skyrockets in value. It is probably more rare than bitcoin, has been used as currency for millenia, no one can take your gold if you have a good safe, gold is tax free, I could go on for hours here!
no brainer?
It does change value, it does rise and it does fall. It's not as nearly as perfect as you described it, but in some tituations (like global blackout) it IS beter solution than BTC. Than again, BTC can bring you potentionaly MUCH larger gain than gold, so just as any other sane person diverse your wealth and you are good and will probably gain some as time passes with wery low risk (depends on how you spread it ofc).
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davida
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July 29, 2014, 09:39:34 AM |
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Why don't we all invest in gold though? it's not as volatile and is always rising, always holds its value, has been around for thousands of years, has real value, can be used regardless of the internet/electricity situation and in crisis skyrockets in value. It is probably more rare than bitcoin, has been used as currency for millenia, no one can take your gold if you have a good safe, gold is tax free, I could go on for hours here!
no brainer?
Have you seen the 3year gold chart? http://www.bullionbypost.co.uk/gold-price/3year/ounces/GBP/Also, you can't buy and sell gold with less than 1% charges between buying and selling like you can with bitcoin.. Bullionbypost.co.uk probably the best rates in UK are still close to 10% difference between buy/sell price. If you sell your gold to the wrong place the fee can be like 25% less than spot price.
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