What solution should/could there be in case of high bitcoin adoption + wide scale power blackout?
Radio is nieche and if disaster strucks it will be too late.
If you imagine world without fiats banknotes, what is possible solution? Some kind of bitcoin-backed trusted notes?
21 sats \ 12 replies \ @senf 5 Jul 2023
Bitcoin will be the least of my worries if there was a big enough power blackout to affect it.
reply
0 sats \ 11 replies \ @designsats OP 5 Jul 2023
How will you buy water and gas?
reply
10 sats \ 10 replies \ @llamabyte 5 Jul 2023
ammo, gold, silver, canned food.
Like Senf said. you would have bigger concerns.
reply
0 sats \ 9 replies \ @designsats OP 5 Jul 2023
What if you are lame and didnt stack those before and now your family is hungry and cold?
Lets imagine you and store has same custodial wallet. You could maybe use that custodian as arbiter and make offline transaction that gets postponed until receiver comes back online but looks like normal transaction
reply
22 sats \ 5 replies \ @llamabyte 5 Jul 2023
You could make a bunch of Cashu.space tokens and give them to people for supploes as you need them. Then when they crawl back to the post-apocalyptic radio bitcoin network, they can cash the coins in.
The main theme though is that Bitcoin is not made for a total collapse scenario.
There are some redundant systems being built using radios and local mesh networks, all great efforts.
But you should probably be worrying about stocking up those items and gaining survival skills, before you start worrying about spending bitcoins in the zombie apocalypse.
If the grid collapses, your retirement plans are over.
reply
0 sats \ 4 replies \ @designsats OP 5 Jul 2023
Not total collapse. Imaogine 1 week without power after hurricane with no mobile internet. Something like that.
reply
27 sats \ 3 replies \ @llamabyte 5 Jul 2023
Cashu.space would be perfect for that.
Have a small portable solar panel to keep the phone working.
When you need to pay for something you can send the link for the amount to the person or give them a printed paper of the token. ( print them before the outage)
reply
0 sats \ 2 replies \ @designsats OP 5 Jul 2023
Thats actually even better than what I thought of. :) Thank you
BItcoin can indeed fix this
view replies
0 sats \ 2 replies \ @llamabyte 5 Jul 2023
deleted by author
reply
0 sats \ 1 reply \ @designsats OP 5 Jul 2023
Ok so there is no way to make offline bitcoin commerce...bitcoin doesnt fix this
reply
0 sats \ 0 replies \ @llamabyte 5 Jul 2023
MY bad ! i was responding to the wrong message t LOLOL please ignore them
reply
21 sats \ 0 replies \ @OriginalSize 5 Jul 2023
If you follow the topic you'll see a ton of power outages all the time followed by that power coming back within days. Electricity is just too economically important to stay off for long.
If it can't come back on for most within days then we're talking about a multi-week, multiregional issue. In that case money isn't as important than community, rationing resources and generally cooperative problem solving.
reply
0 sats \ 1 reply \ @0xtr 5 Jul 2023
Store some sats on an OpenDime.
If someone trust you enough, you can send the signed transaction data to the other person and they can broadcast it later when they get access to a connected bitcoin node. You could even just write down the seed phrase, put a certain amount of sats on there and give that to whomever you want to pay.
Mesh networks where one or more participants has a node that's able to broadcast the transaction for you could also be possible.
You could broadcast the TX over satellite too, e.g. with Blockstream Satellite. Or via radio.
All these options require some kind of preparing before the actual event, there is no way around it. If nothing is prepared, you'd just have to give out your existing seed/private key which is already settled on the blockchain.
If the blackout is caused by a major catastrophic event, I guess we don't care about money. Water, food, ammo and guns would probably be more important to stay alive.
reply
0 sats \ 0 replies \ @designsats OP 5 Jul 2023
This is all ad good but I assume future and onchain being unable to service small day to day spends.
reply
0 sats \ 2 replies \ @jgbtc 5 Jul 2023
Bitcoin's reliance on electricity and the internet is a feature not a bug. These are two things that are so essential they cannot be turned off for long.
reply
0 sats \ 1 reply \ @designsats OP 5 Jul 2023
I just refuse to accept there is a problem bitcoin cannot fix :)
reply
0 sats \ 0 replies \ @jgbtc 5 Jul 2023
I appreciate adversarial thinking.
reply