Friday 20 October 2017

Bitcoin and the weather :)

This is may be slightly off topic but this past week it has got me thinking a bit more about it, let me first explain how.

This last week in Ireland we have been hit with very bad weather, now some might say this type of weather was small compared to say the USA but for us in Ireland it was huge the worst in almost 60 years I think. It was called hurricane Ophelia and by god it cause a fair bit of damage around. I caused quite a bit of damage in my house and also I had to go on a quest to find my kids trampoline to my surprise was not damaged to much in the garden of my neighbors garden 5 doors down. We also lost all electricity for 3 days which got me thinking how much we rely on it for so much of our living. I was wondering how would bitcoin be of any use to me in these type of circumstances compared to cash.

With most bitcoin in order for you to spend it you need some type of access to a device that requires power which is all good if you have power. So for my example I was sitting at home in the dark knowing that I will have to make a trip to a shop to buy some things like food and batteries. (TIP, buy the good ones) and decided if all I had was bitcoin I would have not been able to make the transaction and would have properly been ok in the long term :) but just imagine if this was to drag on for a few weeks and our only method of payment was bitcoin we would have been in trouble.

Now I understand that this may be very far fetch and someone out there will tell me you can still use bitcoin by using the paper wallets but just for this purpose lets just say you cant. With all my talk of how good bitcoin is I never thought of it from this point of view.

Although bitcoin is good it is always worth while to have a saving of cash that you can get to even if the power is gone for any period of time and try not to rely to much on power as I think we will experience more of these days of bad weather in Ireland anyway.

Remember to always have a back up plan!!!        

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