If the internet goes down suddenly, what will happen to you and Bitcoin?

[Baofeng]

We know that Bitcoin is easier to access using the internet, including all transaction needs... however, that doesn't mean Bitcoin can't be transacted without the internet.

Well it's obvious that we can't accessed our Bitcoin without internet, no transaction is going to happen here.

If you look at the impact of the internet on cryptocurrencies today, it is huge. And what happens if the internet is lost???
Will you regret owning Bitcoin now? And will you fall into poverty seeing that your assets cannot be sold on any exchange?

Definitely, as I have said the impact is huge, but I don't think that people will regret to have Bitcoin though. Maybe for those who literally put all their money on Bitcoin and doesn't have fiat or paper money at their disposal. That's why we always say that Bitcoin is not that magical bean that will solved everyone's problem here. So still have to think of other ways to survived in case of something like this happened in the future.

[bounceback]

Definitely, as I have said the impact is huge, but I don't think that people will regret to have Bitcoin though. Maybe for those who literally put all their money on Bitcoin and doesn't have fiat or paper money at their disposal. That's why we always say that Bitcoin is not that magical bean that will solved everyone's problem here. So still have to think of other ways to survived in case of something like this happened in the future.

Actually when internet goes down not only with bitcoin have huge impact but also all sector from fiat currency and our saving money in the bank can't withdrawal yet without internet access. I think in the modern era, internet is most important thing and exactly for bitcoin holder or investor internet become their part life.
Bitcoin not worth yet without have access to internet because we need it when making transaction for selling and withdrawing to be fiat, without have internet access make us return back to dark era and all transaction automatically not worth it when internet goes down. I can't imagine one day or one week we can't get internet access and how its bad for investment or many people as influencer worker right now.

[Lucius]

It seems to me that a world without the internet would become a pretty apocalyptic place (at least for a while), but people would adapt as always.
~snip~

Apocalyptic? I think it's a bit of an exaggeration!
You remember probably that in the 90 in all of ex warsaw pact states we basically had no internet, there were 40 million users in 1995 most of them in the US, yet the world was still pretty advanced, of course, it would be bad for companies and communications but it's not going to be that damaging to civilization.
To the comfort of our life, that is a different story, no internet, no access immediately to information, no online payments, back to phone calls, going through 100 shops to find a thing you can order now with a click, it's going to be a nightmare.
But a shortage of food, no, all the farms in my region including my family's one will keep going, it will be a pain in the ass to talk with suppliers and distributes but we're back 10 years only!

You are talking about the past in relation to the future, I am talking about the present in relation to the present. If someone didn't have the internet, then he couldn't have missed it too much, but take the internet away from people today and things could look quite apocalyptic. What I'm talking about is the addiction to the internet, especially among young people, and take away the internet from them and just watch what happens.

I've seen young people literally being treated for internet addiction, and that addiction has all the elements of an addiction to gambling or anything else - without the internet, all these people would become a real problem.

[philipma1957]

We know that Bitcoin is easier to access using the internet, including all transaction needs... however, that doesn't mean Bitcoin can't be transacted without the internet.

If you look at the impact of the internet on cryptocurrencies today, it is huge. And what happens if the internet is lost???
Will you regret owning Bitcoin now? And will you fall into poverty seeing that your assets cannot be sold on any exchange?

What happens if the sun unleases the largest electrical emp ever frying all electronics.

Basically this is your question.

This is the only way the internet would be fully and completely shut down.


If this happens the human race will suffer huge death rate millions maybe billions will die.
Besides crypto most banks will lose all their records. I would simply give my wife a hug check onmy guns and wait for the riots.

My wife and I would most certainly die. As would most if not all-of us on this thread.

To survive you need to have been underground in a shelter so some would live. lost crypto would not be the worst problem.

[Sim_card]

If the internet goes down today, it will be like the world has come to an end because a lot of things will go wrong. This is because internet is now part of our basic needs and imagine if there is no more food in the world, what will happen is the same thing that will happen when the internet is shut down, because a lot of people depend on the internet currently to sur.

[ABCbits]

If you look at the impact of the internet on cryptocurrencies today, it is huge. And what happens if the internet is lost???
Will you regret owning Bitcoin now? And will you fall into poverty seeing that your assets cannot be sold on any exchange?

I think your question also could be apply to other financial service. You would have hard time access your money or investment if their physical branch is too far from where you live. It's worse if they don't have any physical branch.

And answering your question, i probably wouldn't even think about Bitcoin knowing there will be riot and higher crime rate.

[Zaguru12]

We know that Bitcoin is easier to access using the internet, including all transaction needs... however, that doesn't mean Bitcoin can't be transacted without the internet.

If you look at the impact of the internet on cryptocurrencies today, it is huge. And what happens if the internet is lost???
Will you regret owning Bitcoin now? And will you fall into poverty seeing that your assets cannot be sold on any exchange?

I wouldn’t say without internet the world will stop, but our daily life activities will definitely slow down. What exactly isn’t used today by the internet. Entire world is practically dependent on it. The feeling is just like when there is no network connection at all for few minutes and everyone in the environment gets stressed. It is not only your bitcoin in exchanges that will only matter but also the banks can’t audit any transactions for you

[Gurujebs]

If the internet goes down today, it will be like the world has come to an end because a lot of things will go wrong. This is because internet is now part of our basic needs and imagine if there is no more food in the world, what will happen is the same thing that will happen when the internet is shut down, because a lot of people depend on the internet currently to sur.

It's not even possible for internet to go down completely because I think the likes of internet computers run an independent service providers, I don't know how decentralized they are but it's not possible for the whole world to blackout on the internet, this is even why we have the likes of Elon Musk cable as space X but I don't just know if this independence service providers don't have affiliations with the local providers since permission is needed before they are allow to lunch their service.

There are so many things on the internet that the world depends on, if the internet is shutdown today, not only cryptocurrency will have a problem on it networks, virtually all economy will die because Banks can't do without internet, digital banking takes more than 60% of banking activities.

[Tribalchief]

We know that Bitcoin is easier to access using the internet, including all transaction needs... however, that doesn't mean Bitcoin can't be transacted without the internet.

If you look at the impact of the internet on cryptocurrencies today, it is huge. And what happens if the internet is lost???
Will you regret owning Bitcoin now? And will you fall into poverty seeing that your assets cannot be sold on any exchange?

I really wonder what the world would have looked like if there was no internet. Internet has layed the foundation for so many development today, making lives much better and work force more efficient. Aside the fact that Bitcoin came from a mathematical innovation, internet still plays a major role in it's wide spread adoption. So if the internet goes down today, it will be a massive blow to not just Bitcoin alone, but all other cryptocurrencies.

I just imagine the how chaotic it will be when such thing happens. Bitcoin which has gotten to a market cap of over 1.29T and has earned the trust of so many investors. This unimaginable assumption would definitely lead to poverty for those who have invested heavily.

[philipma1957]

If the internet goes down today, it will be like the world has come to an end because a lot of things will go wrong. This is because internet is now part of our basic needs and imagine if there is no more food in the world, what will happen is the same thing that will happen when the internet is shut down, because a lot of people depend on the internet currently to sur.

It's not even possible for internet to go down completely because I think the likes of internet computers run an independent service providers, I don't know how decentralized they are but it's not possible for the whole world to blackout on the internet, this is even why we have the likes of Elon Musk cable as space X but I don't just know if this independence service providers don't have affiliations with the local providers since permission is needed before they are allow to lunch their service.

There are so many things on the internet that the world depends on, if the internet is shutdown today, not only cryptocurrency will have a problem on it networks, virtually all economy will die because Banks can't do without internet, digital banking takes more than 60% of banking activities.

The entire downing of the internet would mean the largest ever EMP in earths history.

All electronic devices with chips would die.

Only underground heavy protected electronics would survive. So much data would be lost the riots and looting would be terrible. No one would care about crypto

[bayu7adi]

I think your question also could be apply to other financial service. You would have hard time access your money or investment if their physical branch is too far from where you live. It's worse if they don't have any physical branch.

And answering your question, i probably wouldn't even think about Bitcoin knowing there will be riot and higher crime rate.

The riots will not be stopped when the internet crisis occurs, clearly it is because of a very vital blow... the world will be in chaos because I am sure no one wants to go back to ancient times again... that means Bitcoin will also disappear and no one will had thought about it as something valuable at that time... it seems like your statement made the most sense, causing Bitcoin to be forgotten, at least until the internet comes back...

Throwing away the seed key or private key may happen in some areas where the population is desperate.

[DiMarxist]

There will be a very big problem if the Internet has a break down and nobody can access the web. Businesses will lost their profits and customers. And it not only affects business but also communication. And also people will die because security information will not be given to the military and other agencies.

[MrSpasybo]

The riots will not be stopped when the internet crisis occurs, clearly it is because of a very vital blow... the world will be in chaos because I am sure no one wants to go back to ancient times again... that means Bitcoin will also disappear and no one will had thought about it as something valuable at that time... it seems like your statement made the most sense, causing Bitcoin to be forgotten, at least until the internet comes back...

Throwing away the seed key or private key may happen in some areas where the population is desperate.

Assuming this happens, when people have abandoned their private keys to focus on more important things like food, shelter, weapons..., and the internet is restored and a few BTC mining farms are operating to maintain the Bitcoin network, I still don't believe that BTC will still have great value at that time. Because when people have abandoned their private keys, their belief in the value of BTC is no longer there, which means that BTC will be revalued from scratch and may no longer be the most valuable crypto in the market.

I believe that at that time, gold will become the most preferred asset, similar to what happened thousands of years ago. Gold's long history and popularity will make it trusted and used in difficult situations in the world.

[electronicash]

The riots will not be stopped when the internet crisis occurs, clearly it is because of a very vital blow... the world will be in chaos because I am sure no one wants to go back to ancient times again... that means Bitcoin will also disappear and no one will had thought about it as something valuable at that time... it seems like your statement made the most sense, causing Bitcoin to be forgotten, at least until the internet comes back...

Throwing away the seed key or private key may happen in some areas where the population is desperate.

Assuming this happens, when people have abandoned their private keys to focus on more important things like food, shelter, weapons..., and the internet is restored and a few BTC mining farms are operating to maintain the Bitcoin network, I still don't believe that BTC will still have great value at that time. Because when people have abandoned their private keys, their belief in the value of BTC is no longer there, which means that BTC will be revalued from scratch and may no longer be the most valuable crypto in the market.

I believe that at that time, gold will become the most preferred asset, similar to what happened thousands of years ago. Gold's long history and popularity will make it trusted and used in difficult situations in the world.

i guess neighbors turn to neighbors will happen then. we're already talking chaos and anarchy in many places about its just the internet that is affected by finance already rely on the internet today. it probably will just take a week before people run out of food supply in their homes and people will go out to find a grocery store they can ransack. 

with what is going on today countries are already preparing war while economic situation is worsening. and us who rely so much on BTC will in the bad spot.
i guess those who diversify their investment to gold will have more chance.

they say gold will be $4k in a few months.

[RockBell]

If the internet is lost today, I think it will affect our daily lives not only in bitcoin.

Since the creation of the internet, almost all of our life dealings are dependent on the internet. which we can highly said that the internet is part of us in running and dealing with most of our social and economic lifestyle that evolves around the digital transmission, that the internet controls.

Without the internet, our life's will be boring and there wont be inflow and outflow of businesses that can affect the way we live

If the internet should go down then everything will be affected because this days most of the things we do are connected to the internet. Some few weeks back the under sea cable had an issue and it all lead to frustration because nobody was able to do anything, since the internet was down. And if everything is affected then even bitcoin will be affected. The internet have become part of our life and their is nothing we can do about it. Because most of the things they run are now through the internet. And actually since the internet came things are now made easy and information you need is every were just because of that same internet. Social media might have is own dangers but sure fun for us.