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Author Topic: If the internet goes down suddenly, what will happen to you and Bitcoin?  (Read 9800 times)

Offline lepbagong

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Bitcoin is not relying on the Internet network because it mainly focuses on the blockchain technology and the bitcoin network which is a p2p network is also decentralized, bit for the sake of those already using a centralized exchange or hot wallets and their kinds, internet use may be required to connect their account on those exchanges or hot wallet.
It seems that you are right and cannot be blamed that Bitcoin is dependent on blockchain technology, but there cannot be connected trading transactions if there is no internet network to be used for transactions.
So, no matter what, the internet is always needed because without it, trading cannot run well. Although there is also news that a way is being sought for each transaction without using the internet, but when and we don't know yet.
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Offline libert19

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Just now idea crossed my mind that if this impossible Internet stops thing happens, the people having tangible things may trade you their tangible things for your crypto — you give private key/phrase and they give you their tangible things. Of course, they may give you less value than what your crypto assets are actually worth due to the situation.

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Offline Kemarit

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Bitcoin is not relying on the Internet network because it mainly focuses on the blockchain technology and the bitcoin network which is a p2p network is also decentralized, bit for the sake of those already using a centralized exchange or hot wallets and their kinds, internet use may be required to connect their account on those exchanges or hot wallet.
It seems that you are right and cannot be blamed that Bitcoin is dependent on blockchain technology, but there cannot be connected trading transactions if there is no internet network to be used for transactions.
So, no matter what, the internet is always needed because without it, trading cannot run well. Although there is also news that a way is being sought for each transaction without using the internet, but when and we don't know yet.

Not just Bitcoin, almost every sector and industries are relying to the Internet already, it is so big that if it went down for even a few minutes, the total lost will be huge. So we will definitely be affected as well, the thing is that there are Plan B in motion already, it might be crude communication, but I still think we can prosper and move on with our Bitcoin transactions. And to be honest, I do not think that Internet could be down, unless there is really a catastrophic event in human history. The only thing I remember is that when there was a earthquake in the Pacific like a decade ago and it did affect some parts of the world because the infrastructure was destroyed under the ocean.
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Online taufik123

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-snip-
The blockchain itself is a network of decentralized nodes that interact with each other through the internet, so the blockchain cannot exist without the internet and so does crypto. I think this is obvious, and we should worry about bigger losses if the internet goes down forever, especially related to the supply chain, communication and databases.
Even all transactions outside of crypto will also be disrupted, internet blackouts are a serious problem for humanity because it is a staple today.
It will disrupt all sectors and be dangerous for all systems that are now running with the internet.

The crypto ecosystem needs all the power of the internet for all existing interactions, for decentralized node networks etc., so don't let the internet go down.

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Complete internet failure would involve either way or the largest most powerful solar flare we have ever recorded.

The solar flare would need to last long enough that the entire surface was exposed.

Far more likely that 50 to 70 % gets fried. With many people dying from fr o m the flare it's self.  If the flare lasted 24 hours killing off 99% of electrical
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Offline bitpr0

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Can't really imagine a world without internet anymore

Offline libert19

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Can't really imagine a world without internet anymore

Where I live Internet is used but still there are old ways of living alive, so if Internet only were to be shut down, it'd not be that much of catastrophic state of affairs — I like to think.

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Offline lepbagong

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Can't really imagine a world without internet anymore
Where I live Internet is used but still there are old ways of living alive, so if Internet only were to be shut down, it'd not be that much of catastrophic state of affairs — I like to think.
In some places, perhaps as you said, there is no need for the internet in daily life, but there may be other means of communication to connect one place to another and, indeed, the situation is already isolated from the rest of the world, and in fact, there are still many areas like that And they can still run well.
But if you want to connect with the world outside that scope, you will obviously still need the help of the internet.
But for areas like that, it is not a disaster if there is no internet.
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Offline bayu7adi

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Can't really imagine a world without internet anymore
Where I live Internet is used but still there are old ways of living alive, so if Internet only were to be shut down, it'd not be that much of catastrophic state of affairs — I like to think.
In some places, perhaps as you said, there is no need for the internet in daily life, but there may be other means of communication to connect one place to another and, indeed, the situation is already isolated from the rest of the world, and in fact, there are still many areas like that And they can still run well.
But if you want to connect with the world outside that scope, you will obviously still need the help of the internet.
But for areas like that, it is not a disaster if there is no internet.
It's true, as other friends have said, the internet will destroy the economy... but for ordinary life, it will still be able to continue... it's just that movement is increasingly limited... the internet was originally something that wasn't that important when the presence of the internet has not yet been detected, it has now become a daily necessity for most people.

I also believe that there are still people living in areas without internet today, especially tribal groups who live in remote areas. They clearly will not be affected by the global collapse of the internet, because they had nothing to do with the internet from the start.

Offline vegasus

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In some places, perhaps as you said, there is no need for the internet in daily life, but there may be other means of communication to connect one place to another and, indeed, the situation is already isolated from the rest of the world, and in fact, there are still many areas like that And they can still run well.
Of course, there are still remote areas like this, but it all goes hand in hand with developments in technology and its use in these areas. So, maybe there it is not related to various global disturbances related to internet needs. Unless there are personnel who do it outside the area every time they want to use the facility.

And overall, certainly not just Bitcoin, but all global aspects that require the internet will be completely destroyed if this happens. And ekmabli was like the beginning, when the internet didn't exist yet, relying on satellites or other things.

Offline bayu7adi

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And overall, certainly not just Bitcoin, but all global aspects that require the internet will be completely destroyed if this happens. And ekmabli was like the beginning, when the internet didn't exist yet, relying on satellites or other things.
I would think likewise, for long distance communications, radio waves may become more necessary while waiting for the internet to recover... for those who depend on the internet for most of their lives, they need to be able to control their finances which are being affected... and for people who are used to being without the internet, it will only change their behavior a little.

What I am highlighting in this topic is the impact on Bitcoin users, so after reading several comments from friends here, perhaps I can also conclude my own opinion, that Bitcoin users will probably take a complete break and stop making Bitcoin transactions 99% of the time. Prices will freeze because what I have seen so far is that Bitcoin transactions are more dominant with the help of the internet. If there are no transactions, then it is like the era is just being stopped temporarily. Didn't fall completely.

Offline Dr.Bitcoin_Strange

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Bitcoin is not relying on the Internet network because it mainly focuses on the blockchain technology and the bitcoin network which is a p2p network is also decentralized, bit for the sake of those already using a centralized exchange or hot wallets and their kinds, internet use may be required to connect their account on those exchanges or hot wallet.
It seems that you are right and cannot be blamed that Bitcoin is dependent on blockchain technology, but there cannot be connected trading transactions if there is no internet network to be used for transactions.
So, no matter what, the internet is always needed because without it, trading cannot run well. Although there is also news that a way is being sought for each transaction without using the internet, but when and we don't know yet.
Yes, it's possible to transact Bitcoin completely offline and without the internet, and there are about 2 or 3 methods I know of.
We now have specialized softwares that enables us to create an offline transaction, after creating the transaction, you'll need to sign the transaction with your private key, although this method would later require you to use the internet to broadcast the transaction to thr bitcoin network, so this method is not actually completely offline as you'll need the internet along the line.

There are also wallets that enables one to send and receive Bitcoin via Bluetooth from one device to another, this one can actually be done offline but the only disadvantage about this method is that this sort of transaction can only be possible if the devices are in close proximity.

Offline libert19

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Bitcoin is not relying on the Internet network because it mainly focuses on the blockchain technology and the bitcoin network which is a p2p network is also decentralized, bit for the sake of those already using a centralized exchange or hot wallets and their kinds, internet use may be required to connect their account on those exchanges or hot wallet.
It seems that you are right and cannot be blamed that Bitcoin is dependent on blockchain technology, but there cannot be connected trading transactions if there is no internet network to be used for transactions.
So, no matter what, the internet is always needed because without it, trading cannot run well. Although there is also news that a way is being sought for each transaction without using the internet, but when and we don't know yet.
Yes, it's possible to transact Bitcoin completely offline and without the internet, and there are about 2 or 3 methods I know of.
We now have specialized softwares that enables us to create an offline transaction, after creating the transaction, you'll need to sign the transaction with your private key, although this method would later require you to use the internet to broadcast the transaction to thr bitcoin network, so this method is not actually completely offline as you'll need the internet along the line.

Signing transaction offline doesn't mean anything if it doesn't reach to the blockchain, so I would not call it a method tbh, also signing transactions offline is more of security thing, saves you from Internet related attacks.

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There are also wallets that enables one to send and receive Bitcoin via Bluetooth from one device to another, this one can actually be done offline but the only disadvantage about this method is that this sort of transaction can only be possible if the devices are in close proximity.

Don't get it, how will transaction get published to Bitcoin blockchain via Bluetooth?


Offline joniboini

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Don't get it, how will transaction get published to Bitcoin blockchain via Bluetooth?
Maybe he's referring to how people send Bitcoin transaction through satellite or radio waves, although this still assume the blockchain or Bitcoin network is running properly. I don't think it's possible to replace that with Bluetooth, unless you want to run your own local Bitcoin network/fork. I don't think I've heard a wallet that claims they can send Bitcoin with Bluetooth (and synchronize to the blockchain with no internet connection) in the first place. CMIIW.

Offline God Of Thunder

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Okay, I always said this is a stupid question because such a day won't come anytime soon. But a similar incident happened to me and my country mates. I have never spent a day without an internet connection since I first started using the internet. But this time, I and my country mates had to live without internet for the last six days.

I and my country mates just came out from six long days of internet blackouts and are feeling fresh for now. But, I cannot tell you how it was without the internet. Unable to connect with friends, unable to pay bills, unable to works and countless things which I cannot even remember now. But, since Bitcoin does not depend on a single country, I still believe that day won't come.
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