Post
Topic
Board Bitcoin Discussion
Merits 7 from 5 users
Topic OP
SENDING BITCOIN WITHOUT THE INTERNET
by
Leonardo7
on 01/04/2019, 13:46:22 UTC
⭐ Merited by omone1 (3) ,mk4 (1) ,d5000 (1) ,DoublerHunter (1) ,CryptopreneurBrainboss (1)
Hello guys, So I got involved in some argument yesterday, that it was possible to carry out a bitcoin transaction without the internet, some of my friends argued that it was impossible that the internet wasn't built that way, that there must be internet before this can ever happen.

Below is what I read from Bitcoin In Practice 1 been handled by Andreas Antonopoulos:

True cold storage” means that the private keys have never been on a networked computer or device, i.e. they have been
generated offline and without intermediaries. The signing of outgoing transactions (signed with those keys) also occurs
offline. This method is more common for long-term storage of large funds that you will not be sending out very frequently,
as it is generally impractical for everyday use. You can still safely use the addresses to send bitcoins to them, as well as to
check their balances.

From the above statement, it shows it's possible to send bitcoin from one's wallet to another wallet while the sender can perform this offline. This doesn't mean is not going to get verified online on the blockchain.

This discussion was sparked because of the series of hacked of exchanges and the need to safeguarding huge investors fund, while the crypto space continues to explore a more secure way of managing exchanges.

I want to hear your response about this submission.

Thanks