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To: EnderWiggin1970

I have yet another dumb question.

If the power goes out can you still spend bitcoin?


3 posted on 03/11/2024 12:33:50 PM PDT by BenLurkin (The above is not a statement of fact. It is either opinion, or satire, or both.)
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To: BenLurkin

Yes...you can still use Bitcoin when the power goes out.

Its actually very straightforward...

Its explained here:

https://dumbanddumber.fandom.com/wiki/IOUS


7 posted on 03/11/2024 12:41:25 PM PDT by suasponte137
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To: BenLurkin
Technically you could mail a postcard to someone with a bitcoin TX hand-written on it.

I know there are people who imagine the power going off for all time and hoarding their gold and silver for such a possibility. Most of those folks will die anyway, sitting with their guns and ammo and precious metals in a bunker, because what you will really need in that scenario are Amish farming skills.

The much more likely future scenario is not apocalypse with no one using 19th century tech to keep the lights on, but simply the obvious financial collapse we can all see coming.

10 posted on 03/11/2024 12:42:40 PM PDT by EnderWiggin1970
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To: BenLurkin
If the power goes out can you still spend bitcoin?

No, but if you have it on a private wallet, instead of a public, SEC-regulated exchange like Coinbase, you can carry it around with you on a thumb drive and when in a safe location, prove your holdings to anyone on Earth. The CIA cannot touch this.

12 posted on 03/11/2024 12:45:22 PM PDT by montag813
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To: BenLurkin

It can disappear in a nano-seond. Stay away from that crap.


21 posted on 03/11/2024 12:55:42 PM PDT by Carriage Hill (A society grows great when old men plant trees, in whose shade they know they will never sit.)
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To: BenLurkin

Bitcoin is safe forever.

If you believe that I have some swampland to sell you.


31 posted on 03/11/2024 1:34:26 PM PDT by cgbg ("Our democracy" = Their Kleptocracy)
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To: BenLurkin
I don't see how, in the event of grid down / cyber attack / no internet and this is a very real possibility.

But, let's say that you can access it.

Will the guy hand pumping fuel, out of his farm tank, accept it, as payment?

Or anyone selling anything, if they have no power, internet or knowledge about BTC?<

Your Amish neighbors, that are the only ones selling any fresh meat, poultry, dairy and produce?

The blackmarketeer, selling the stolen insulin, your daughter desperately needs?

The guy, out in the country, that had the foresight to stock up on guns, ammo, reloading supplies and related stuff?

No thanks.

51 posted on 03/11/2024 3:50:43 PM PDT by Eagles6 (Welcome to the Matrix . Orwell's "1984" was a warning, not an instruction manual.)
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