Bitcoin has already put in an important niche festival – digital Gold. Still, however, it is not clear how Bitcoin develop in the future and what developments and feedback we blows must, therefore, be expected. The network runs for over 11 years perfectly and worked from the first day. Nevertheless, a majority of the people is more than skeptical. There are always different points of the Bitcoin as a is no real Alternative to call. Including also the dependence on the Internet falling. But how dependent Bitcoin is actually the Internet and what possibilities there are to protect us from a failure or a censorship of the Internet?
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Bitcoin and the dependence on the Internet
The development of Bitcoin, and Lightning is given by the company to block the stream. Now, the Marketing Director, Neil wood fine, with the question “What happens to BTC when the Internet is turned off?”, and discussed these on a multi-Tweet answer. One of his first statements in the Tweet is:
A surprising number of great engineers have thought about how you can keep Bitcoin in Offline environments up and Running.
1/ “What happens when the internet gets switched off?” Despite the best hopes of many salty nocoiners, a surprising number of great engineers have been thinking about how to keep bitcoin running in offline environments. https://t.co/PnOC12vq4U
— Neil wood fine (@nwoodfine) January 6, 2020
In his Twitter Thread sketched wood also a few of the reasons fine to why someone Offline business. He spoke about the fact that there are many places, such as remote villages, Islands and mountains, where the Internet is inaccessible. In addition, the worldwide Online dissemination is still only 57 %, while the developing countries with the additional Problem of the cost of high connection, and relatively low wages are faced with.
He also noted that most of the people use only two Internet Service providers (home and mobile) to access your Bitcoin to access. These ISPs can make mistakes, or be forced, against their customer to proceed. He also spoke about how the operation of a Bitcoin Full Node can be easily detected, since it is bound to an IP address, which, in turn, can be to a physical address tied to it.
If you are as an individual financially from Bitcoin-dependent, you can’t afford to be out of Bitcoin cut off. That goes double for companies such as Miner and trader.
Bitcoin ‘Offline’ use
Wood fine made it clear that he lubricated with “Offline transactions” in reality, “Internet-mini” transactions said that since the transaction would need to be supplied data on the Miner. The solution has to be ideal for environments with low power consumption, such as in the case of a natural disaster, suitable.
A further challenge is for an Offline solution, the resources would be required for the operation of Bitcoin Full Nodes. The processes of the Nodes consume approximately 20 gigabytes per month. The bandwidth capacity is “not Internet-based, cheap network options in consumer quality,” according to wood, the fine is rather low. He added that the size of the transactions would not be a Problem. Each transaction can fit in ~250 Bytes. So he said:
It is easy to transfer to and it is easy to hide. The data can not be simply stopped.
Block stream satellite will provide additional options
The use of the block stream satellite could decouple Bitcoin from the Internet. “The Satellite
’float‘ around the world to send Bitcoin block chain data of four satellites in geostationary orbit“ around the earth. This happens to you, before you send this data to “almost all of the populated land masses of the world”. This Signal can be received by relatively cheap equipment. Converted all the necessary equipment costs memberships close to 100 USD and include a Standard satellite dish, an upgraded Radio, as well as a simple Computer, such as a Raspberry Pi.
Currently, only a Download is possible, i.e., it can be sent any data back. In addition, the first synchronization must be performed over the Internet. But this could change in the future. Wood fine made it clear that you do not need to rely on a party, as it seems in the first moment. Since the Bitcoin Nodes to enforce their own rules for the received data would be rejected, any Amendments to the Protocol, since the block chain data already verified by the miners, and the associated Proof-of-Work was applied.
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Other ways to send transactions and to maintain the consensus
With the help of WiFi Rebroadcasts a single “Satnode can make” the Bitcoin block chain data for a whole region or a municipality, where the Blockchain can be verified. When using a Mesh network such as goTenna, which is integrated with the Internet-of-things applications of the popular block-stream Satellite or LoRaWAN, you can send a local area of the “Satnode” BTC transactions in a reliable and receive. This happens by the transaction data is routed via the Mesh to an Internet-connected Mesh Node. In addition, could also be used to connect mobile Wallets in this way.
Wood fine also said that mobile devices can help in the construction of the Offline network of Bitcoin, since transactions can be forwarded via text message to a device connected to the Internet. This can be done with the help of Tools such as txTenna, Pony Direct or SMSPushTX.
One thing is for sure: there is no ‘Off the Internet’ in the case of Bitcoin.
We are, as you can see from the response of wood fine, still in its infancy. With Bitcoin has created something completely New and Unique. It programming is hard cash/Gold and is constantly evolving. In addition, the programmers and all other Involved parties, the danger from external influences, are aware of and try to find already now solutions to it. The development does not stand still, and will always have to adjust again. Bitcoin will work in 10 years may have been very different and used, as we can imagine the currently at all. It will be exciting.
5 reasons why you invest in Bitcoin should: again and again we hear the same statements to Bitcoin. Soon, he could be prohibited, the Central banks make it unnecessary and you could buy it anyway, none of that. We take care of the most common fairy tales and show you 5 reasons why you should invest in Bitcoin. Why should you be in Bitcoin investing.
Bitcoin can work with limited Internet easily?
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