If there's a natural disaster cutting off electricity for days, trading bitcoin should be least of your worries really. Priorities man.
sorry I meant to say, how does one trade with BTC
ie. how does one buy food/water with BTC in such circumstances if BTC is the most preferred currency for trade (like Venezuela)
The simple answer is: you don't.
For a transaction to be validated you need to send it over the network. And this needs electricity and connection.
Normally at least the sender and recipient's phone would work (again: electricity and connection)
If this minimum requirement is not met, you're out of luck.
A different approach would be to have with yourself a number of paper wallets and had over the actual wallet. But that needs a super-high level of trust between you and the other part, since you can hand out empty paper wallets or just empty them at a short time later. Or give the same wallet to many others... This idea has far too many issues to be a good solution...
This is a pretty obvious question, internet connection, computer and mobile phones are all electric powered without electricity there will be no digital devices that is running digital software and there will be no digital currency. Lets assume that we are leaving in 2030 ang then BTC or some altcoin is the means of payment.
And then some devastating phenomenon occured.
This is a problem right? Because internet connection is down and power connection is no more, like what happened to Haiti people wont settle for transactions if that happens, and if you are not aware, government have already some plan when a strange like phonomena like that will happen and the people?
Just like this guy have wrote:
If there's a natural disaster cutting off electricity for days, trading bitcoin should be least of your worries really. Priorities man.
Im wondering what type of government will let its people scratch their head because there is no means of transaction and what type of people will scratch their heads because there are no power. A disaster that can cut the whole power of a country is a life and death situation, so I dont think I will be problematic on BTC when that happens.