We hear in the news that many people in countries that have currency issues are starting to trade in BTC - for example, Venezula.
My friend asked me what about in regions where they lose electricity, how would they trade with BTC?
For example Puerto Rico is right now devastated by the hurricane, and many parts of its region don't have electricity. A lot of people need to buy food and even fresh water.
Is there a way to still trade with BTC in such situations?
Can P2P trade still occur despite having any connection to the greater block-chain network? Keep in mind that it's easy to charge mobile phone so they have access to wallet apps, but probably not the Internet.
I don't know too much about mobile data networks, but I doubt one's 4G/LTE data plan would work in such situations. I assume that data would have to be relayed to a tower/dish before it's sent to satellites. Am I correct?
I do not mean to be pessimistic but I do not think there is anyway possible for a transaction in cryptocurrencies to take place with electricity and Internet connection. This is still one of the major stumbling block to the general acceptability of bitcoin in the world today.
Bitcoin has not reached a level where it can be used for transactions for daily needs such as food and water from a petty trader to consumers. Bitcoin for now can only be used to buy in major online stores.
Yeah I quite agree with your statement and my opinion for that, If necessary, simple, I use my paper money to pay something that really needed In that time because bitcoin Is such an alternative way of paying method through Internet connection. Without Internet and electricity we can't used bitcoin to pay some bills or other expenses that need to be done.