Quote from: alyssa85 on January 22, 2020, 10:14:20 AM

Quote from: iram3130 on January 22, 2020, 08:21:47 AM

I have this worry about cryptocurrencies from all the time. If there is a situation in a country then the first thing they stop is either Internet or electricity, it will be harder to use a crypto in that moment. Was there any solution for this in crypto.? Has anyone thought of something to solve this issue..?

No. The assumption behind crypto is that electricity will always be there and the internet will always be there.

The internet is pretty robust in that it's designed to work even if some nodes are down. You would have to take down the entire world's internet cables to stop it.

Electricity is more vulnerable. Most electric grids are centralised and can be hacked by hostile countries. And they usually need fuel to power them, so if a country runs out of access to coal or gas, then they're stuffed. Solar panels only work when the sun shines and wind turbines only work when the wind blows, and battery technology is still in it's infancy so power can't be stored.

Its really a serious problem if you ask me, because there are too many unrests in many countries and this is what they do. If we tell someone that crypto is better than fiat but wont be able to use when it is needed the most..? Huh

Quote from: Hydrogen on January 22, 2020, 10:33:23 AM

The closest thing I've heard of is kong cash based cryptocurrency.

https://kong.cash/

But even that is electronic, if to a lesser degree. Based on smart contracts if I'm remembering correctly.

Electricity will be the main issue again. It may work with NFC enabled mobiles but that too has too many restrictions. Roll Eyes