Dennis Porter shared: I don’t know who needs to hear this but Bitcoin can work without the internet.
Community Response: Here block stream sat one of the many ways, also, hybrid mesh network via radio frequency is another one. Think of your water and electric meter type of technology but for the bitcoin network
As a digital currency, you cannot buy, sell or exchange bitcoin without the internet in scale. As such, even a single day without internet access could cost bitcoin miners, exchanges, and traders millions. Don’t you agree?
The idiotic conflation of a myth. Bitcoin is the exchange of empathy by the power of Immutability Truth those rules that are set as being true by the Universe. The conveyancing of information is nothing if IT is abused.
This has always been my biggest concern. What happens when the power goes out/the internet shuts off? I’ve had trouble digging up literature exploring this scenario. Do you have anything I could read/watch to understand deeper? Thank you.
Bitcoin can be stored without the internet. How will you send Bitcoin with no internet?
Can you explain that further, because I’m not sure we would have a huge problem if the internet went off? And one more thing if you see this comment I would also like to hear your opinion on the inery I think it’s gonna be very important to the metaverse.
Bitcoin has made money indistinguishable from any other string of text. This means that transacting is not solely dependent on internet access but can utilize a range of networks and technologies to suit specific needs. Optionality will only continue to grow with adoption.
If the internet goes down, we face a complete social collapse, it becomes a point of failure Bitcoin at that point will not matter. It will be the survival of the fittest.
If the internet goes off we face a complete meltdown of society, it has become a single point of failure, and Bitcoin at that point won’t matter. It’ll be survival of the fittest.
We would have bigger problems and no way would people use bitcoin to barter.
HOW TO RUN A BITCOIN NODE WITH THE BLOCKSTREAM SATELLITE. Everything you need to know to install and operate a Bitcoin node connected to the blockchain via satellite and enjoy full sovereignty.
Not really, computers need the internet to communicate with one another.
This point needs to be explained in detail to many more people! While this is true, my understanding is that majority of people use CEXs and those people would lose access to their crypto without the internet. Let’s get more people into cold wallets!
He frequently says provocative things like this without full explanation. Instead of clarifying, he says “DM me.” Must be trying to sell something.
Your block stream satellite system, radios, computers, and even your cold storage wallets are all going to be fried by the EMP from the first high altitude burst.
You can’t just leave a statement like that dangling out there. Do you need to expound?
I know how to transact bitcoin via Hamm radio.
Interesting. In a scenario where the internet is gone what are the chances that Humans will continue to agree that Bitcoin is the money. Society is most likely broken down and bartering (or looting) physical goods most likely for a while. Guess it depends on what killed the net.
LOL “theoretically” yes. Practically, No!! Not to mention all BTC maxis along with the rest of the world will have much bigger problems if the internet and power go out entirely. What a selfish and narrow thought experiment.
Guys have been in Bitcoin for a cup of coffee and he’s schooling the core devs. Interesting move.
I just wrap around my mind on how blocks would get mined with no internet…If the internet is down hash rate is down. How do you transact without a miner confirming it in a block?
Bitcoin would NOT be tradable because of the microscopic % age of the population able to circumvent the obstacles. Physically tradable assets would utterly dwarf any cryptographic money. Food, water, arms, tools, silver, and a form of transport would have value…
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