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/biz/ - Business & Finance

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13207077 No.13207077 [Reply] [Original]

What happens to your magic internet money when you can’t connect to the fucking internet?

>> No.13207105

it's still there and you connect on a different time, are you mentally retarded?

>> No.13207111

You can hypothetically construct your signed transfer offline and submit it to any connected node without going through the internet.

>> No.13207113


So you agree, it’s fucking useless unless you have an active internet connection?

>> No.13207126

Literally any bank transaction is fucking useless unless you have an active internet connection (or your bank has one)

>> No.13207134


You lost me bud, does my bitcoins work if the internet is offline true or false?

>> No.13207142


I have a check book and fiat cash you fucking imbecile.


>> No.13207144

does your bank work if the internet is offline true or false?

Useless discussion here what the fuck.

>> No.13207154


The blockchain is stored on hard drive, the coins don't disappear if the internet stops working for awhile

>> No.13207155

amish retard

>> No.13207172


Yes faggot, my bank has been around for 80 years before the fucking internet. It worked before the internet and it will work if China hacks the global telecommunications infrastructure.

Also, as a “global digital currency” how can I work with countries like Russia or North Korea for example? NK is for the most part off the grid, Russia has a firewall that can be activated instantaneously. I cite these examples because my fucking contracting firms conducts business with both countries. If I were to rely on magic fucking tokens, I could potentially lose money.

Once Again, does my bitcoins work without the internet?

>> No.13207192

Your cheque book doesn't work without internet
Cryptos are no worse than credit cards for internet reliance

>> No.13207194


I can build a house and support 7 wives and 27 children with my bare fucking hands faggot.


>> No.13207198

What are you trying to achieve here? Seriously. No it doesn't work if there is no internet worldwide. Guess what, telephone doesn't work if the satelites crash. Big fucking woop. Guess what, half of europe is flooded when the sea level rises.

And yes you can conduct bussines with NK Russia or China. Bitcoin can be used anywhere in the world withouth restrictions. The restrictions would come from the goverments. Not from bitcoin.

Now fuck off you fearmongering retard.

>> No.13207205


How many confirmations does a check require? Only one euro bitch.

>> No.13207207

>Once Again, does my bitcoins work without the internet?
It doesn't you fucktard, now shut up.
>Implying the russian gangsters and nk hackers aren't the biggest users of bitcoin

>> No.13207209
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Yes, they just lost all power in Venezuela. Banks didnt work. Bitcoin did.

>> No.13207221


Fuck phones and satellites if my “digital gold” can’t move I will fucking starve to death. Not being able to call my grandmother overseas will not kill me. Starving because I cannot buy Starbucks with bitcoins will kill me.

Does. The. Fucking. Magic. Tokens. Work. Without. Internet?

>> No.13207232

Yes absolutely it could.

>> No.13207237


I just came back from a trip to Venezuela and nobody fucking uses bitcoin faggot because they have no fucking power and the internet is complete shit. People are literally dying in hospitals with no utilities and you expect people to believe “oh Venezuela uses bitcoin and it solved everything”. No faggot.

>> No.13207242


> it could

Holy fuck we’re toast.

>> No.13207244

Yes they'd work

>> No.13207245

Large part of the world can have a blackout it wont affect bitcoin. You can transact without internet via satellite or radio.

>> No.13207259


Ohhh yes let me pull out my Comsat to finish this transaction for this fucking latte. Oh, the you don’t have a Comsat to receive this tokens? Let me try my CB radio in my semi truck, I’ll just connect my wallet to the microphone and send you some bleeps, hope that works anon!

>> No.13207273


How? Fucking explain who will process a transaction and how the fuck do I initiate one without fucking internet?

>> No.13207285

You give a paper wallet to someone

>> No.13207296

In a world where the internet stopped working I doubt you'd be buying a latte from a cafe you fucking retard.

/biz/ isn't your goddamn tech support hotline go and research this shit yourself, like the rest of us, you fucking moron. Go to reddit if you want a big long fucking explanation that you can give gold to and upvote.

>> No.13207304


> You give a paper wallet to someone

Faggot go back to the basement.

Can somebody who knows what the fuck they are actually talking about chime in and confirm or deny: DO CRYPTO COINS WORK WITHOUT THE INTERNET, REALISTICALLY NOT HYPOTHETICALLY AND NOT IN THE FUTURE BUT RIGHT FUCKING NOW?

>> No.13207313

I already said they didn't in my previous posts, but you're too stupid to filter that info

>> No.13207317

Questioning the availability of the Internet is like questioning the availability of electricity. The Internet is a part of our life, and if we can't connect to it, then we have worser problems to deal with. It's a moot point.

>> No.13207319


You fucking faggot. Coffee has been consumed for hundreds of fucking years before the internet and will most definitely still be a thing after the fucking internet.

How can biz be anything if not one fucking anon can answer my question without crying about it?

>> No.13207326

>How many confirmations does a check require? Only one euro bitch.
What, checks take like a week to clear.

>> No.13207339

You do realize faggot that on any scenario that takes out the fucking internet, literally a network originally meant to be nuclear resistant, you will probably have much bigger problems to worry about?

The internet is not a fad. It is clearly a permanent feature of mankind from now on. It might be "new" but eventually the amount of history that will include an internet will exceed the amount of history without it.

Anything that damages it, will also be damaging food & water networks as well, so by that point you will have bigger worries.

And you might say "but muh gold" and "muh banknotes". Ha, ha. No. When things reach the stage of damaging the food and water networks, then those become fairly irrelevant as well. Why "accept" your gold, when I can simply place a trap or 10 on 1 abuse to kill you? (noticed I am not even talking about a fair fight or care how much you can bench press)

>> No.13207343


I don’t trust your opinion as you have given me multiple contradictory replies, I know your just trolling for likes.

>> No.13207346

Jesus this thread is a shitshow.

>> No.13207352

literally send 0's and 1's to an ISP in the form of a letter. there is always a way.

>> No.13207355
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>Ohhh yes let me pull out my Comsat to finish this transaction for this fucking latte. Oh, the you don’t have a Comsat to receive this tokens? Let me try my CB radio in my semi truck, I’ll just connect my wallet to the microphone and send you some bleeps, hope that works anon!
>Coffee has been consumed for hundreds of fucking years before the internet and will most definitely still be a thing after the fucking internet.

>> No.13207363


It’s not a moot point because humans survived and flourished before the internet and magic internet money you’re all pushing for global decentralized funny money to replace the gold standard why would I push for digital money if it can seize to exist at the drop of the WiFi?

>> No.13207366

well put, i said something similar above. worrying about this is just being pedantic. That way, even traditional banking systems are useless. What are we gonna do? Go back to gold? Kek.

>> No.13207374

>I know your just trolling for likes
>drop of the WiFi
Haha I see what you're doing now. Epic boomer larp, quality thread.

>> No.13207385


Why is that? Because the truth comes out. Digital tokens are worthless without the internet. How can this ever experience real world adoption? Crypto is like a fucking hobbyists activity like a raspberry pi or a fucking LEGO set.

>> No.13207396

No you fucking retard it doesn't work without the fucking internet

>> No.13207401


Shit. That’s what I thought.

>> No.13207411

>drop bitcoin into a paperwallet
>provide proof that this paperwallet adress contains x amount of btc (transaction proof)
you can now send your paperwallet to whoever you want with a mail pidgeon offline like a check since you are a colossal faggot boomer

>> No.13207418
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>what happens with your mechanical horse when you don't have gas?
>what happens to your meat when you don't have electricity in your kitchen?
>what happens to your commode when running water stops?

>> No.13207420

So are banknotes and gold idiot (minus any actual value it might have in chemistry/electronics). They only have value due to the manual internet of letters, talking, phone calls and social connections.

In reality the only things of value are:


If you intent to use machines to attempt to get those more efficiently then the next important thing becomes


And of coerce if you want to protect all of those, or have division of labour the next important thing unironically is:

The power of Friendship <3

(or at least "social capital" / people in your community)

None of them require "gold" or "banknotes", and it only becomes relevant when someone wants a default store of value to dick around with. It could equally well be lithium, seeds, slavery contracts, or btc.

>> No.13207424

Your fiat cash won't be worth the paper it's printed on if things go to shit so much that there is widespread loss of internet access.

>> No.13207460

~90% of the world's money is digital with no analogue in the "real" world. Or do you think Goldman carries bags of cash to JPM?

>> No.13207596


You hand over a private key written down by hand on a piece of paper.


>> No.13207621



Fucking noobs

>> No.13207628

I don't know, i'm confused

>> No.13207638


No but because it’s operated by a trusted central authority we can know that our money is safe. Having to rely on and trust anonymous miners around the globe is a bit a of a fucking security risk.

>> No.13207655

>hand rubbing intensity reaching critical levels
fucking lol. dunno about you but i trust maths more than jews.

>> No.13207658


Hahaha lmfao of, ok let’s entertain this suggestion:

> Internet goes out and I need to buy food
> noproblem.gif I’ll make a paper wallet
> all my bitcoins stored in one wallet
> hand over Wallet and private key and trust they only withdraw agreed amount of coin?

Seriously though, explain the paper wallet and private keys theory, kid... I’ll wait.

>> No.13207661

> trusting kikes
wew lad

>> No.13207668

yeah there are satellites you can operate it with radio

>> No.13207676

btw stay poor and stay wagecuck OP if you truly don't understand crypto and you're still a nocoiner I'd recommend KYS

>> No.13207677


I can get behind trusting math and science, but a decentralized global economy will not fucking work. Ever. People are too fucking stupid. We need authority otherwise your wife and daughters will be raped and pillaged while you’re working hard for the magic tokens.

>> No.13207678

why do boomers think that the internet can just 'go out'? lmao

>> No.13207685


> kikes

Copy pasta zoomer cope, go back to /pol/ faggot.

>> No.13207692


Oh yeah I forgot everyone has one, thanks faggot. My mistake. All good everyone! Crypto works without the internet! Just use your personal satellite radio, doh!

>> No.13207713


You understand that the future of terrorism won’t be and mass murder... r-right? Injuring people for Econ/political gain is the ultimate boomer cope.

Also faggot, forget about terrorism as the cause of internet outage. Internet and telecommunications infrastructure is and has been literally hanging on by a thread, a slight tug can easily break it. Not to mention, it can be fucking shut of by the flip of a switch.

>> No.13207737

you can send a transaction in a literal snail mail letter, transmit it over telegraph lines, or transcribe it from shortwave radio into the internet operating station so someone can have that sent into the blockchain for you at the earliest possible convenience

you can create bitcoin 'dollar bills' with whatever amount you want on them

>> No.13207751


Wagecuck? I’m sitting in the royal lounge at HGK shitposting while I wait for my delayed first class flight to SFO to conduct highly profitable business that is impossible to profit by with your fucking pretend money. And no, crypto won’t hurt my line of work, it just can’t help it grow.

>> No.13207760
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>> No.13207763


OK. So let’s pretend I sell you my BMW for 20 BTC. I’m supposed to hand over the car while I wait for you to snail mail me your keys? gtfo faggot

>> No.13207769

radio waves travel pretty quickly i think

>> No.13207774


This is ridiculous, you don’t think people with resort to bartering physical good before they start to rig up a radio to transmit a simple fucking transaction?

>> No.13207776

OP is a faggot

>> No.13207788


Ah you’re right. I’m an idiot. Wait... how do I monitor the confirmations? How do I know the transaction is complete? who is going to process the transaction without internet?

>> No.13207798


Ok I’m faggot because your crypto relies on the fucking internet and without it you’re absolutely fucked unless you have a ham radio in your pocket. Lmfao.

>> No.13207807

you can process transactions by hand and when latest copy of the blockchain arrives by telegraph next week you can verify that your transaction went through
do basic research on the protocol and technology please

>> No.13207826


lmfao. based. /thread/
Haha alright, it’s been fun /biz/, catch me in my next thread, I’ll be shilling chainlink.

>> No.13207871

>shilling chainlink.
this shit legitimately concerns me. been on /biz/ since what, 2014 iirc, and i've never seen such relentless shillery. XMR was legit, fucking PND was 'more legit' even than this LINK shit.
people, what you need to realise is that the circulating supply of chainlink is so vast, and i mean we're talking hundreds of millions of coins one day to be billions, is that the entire market capacity divided amongst those coins yields pitiful market value. Even if LINK had the fucking ENTIRE. WHOLE market cap of EVERY crypto in existence, because of it's circulating supply it'd only be worth FIVE DOLLARS.
I don't know who's orchestrating this scam, but i fear that trust in /biz/ might never be restored.
Want to invest and have literally any chance of it being in something lucrative? You need a coin whose value isn't so ludicrously spread. You are sharing this money with so, so many more people than is the case with something like our previous shillings, such as XMR. Not this LINK fucking catastrophe.

>> No.13207876

rare & nice post.

>> No.13207883
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Shhhhhsh. I got some fire memes I’m working on.

>> No.13208329

you are terrible at math.
if link was the current whole market cap at current circulating supply, 1 LINK = $499
if entire 1 billion tokens are released and link is current whole market cap, 1 LINK = $175
you fudsters are almost as bad as finrekt

>> No.13208355

threads like this is why I still come here

>> No.13208485

yes sorry actually you're right, i did fuck that up and i'd hoped nobody would notice. yet here you are. so.. to clarify, what i meant to say is that if say, LINK were to (impossible) achieve a marketcap of Litecoins's proportions, it would then be worth five dollars.
As for your suggestion that $175,584,976,605 / 1 billion = $499, well sir I'm afraid I have a calculator and as such will assert than you might go and make love to your mother with the utmost vigor.
A billion times 500 is half a trillion. Are you suggesting that LINK will one day be worth half a trillion dollars? When the entire crypto market cap is 175b? go fuck yourself.
If you are ASTONISHINGLY lucky, it MIGHT one day max out at five bucks a piece. The retarded suggestions I've seen on /biz/ that it could one day be worth a grand or anything even close? It would need a market cap OF A TRILLION DOLLARS or more.
You are embarrassing yourself. Fuck off.
I'm not saying it's a horrific investment, but I am saying that /biz/ is utterly fucking deluded if it thinks it's even possible that it'll x10.

>> No.13208561

you can connect to the internet whenever you fucking want and by the time crypto is widespread and adopted by most businesses the world is probably developed enough that the end of power or internet coverage means the end of the world so not like it matters much

>> No.13208624

Amazing bait thread. Really made me seething even though I knew it was a bait.

>> No.13208950

You can actually run bitcoin over radio so yes, it even works without the internet. Brainlets will he brainlets though, missing the opportunity of a lifetime.

>> No.13209175

The point of this is that the Internet will never completely die, the protocols have been willed into existence and you can literally send bitcoin with fucking smoke signals as long as everyone shares the same protocol standards. Even if the main internet cable services all deteriorated simultaneously, there are nerds who would maintain a decentralized "wireless internet" over HAM radio (this is already a thing) and coins can be transacted over this network.

>> No.13209187

You don’t even know what copy pasta is... this is honestly sad. Your 40+ years old ass is not fitting in here.

>> No.13209205

>amerifat zoomer-boomer shitflings
You're all the same, obese and obnoxious as all fuck

>> No.13209891
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>so vast