If cryptocurrencies disappear - how will your life change ?

[Findingnemo]

From personal experience - if you find yourself in a territory under global attack, such as my country, Ukraine, suffering from a large-scale terrorist attack since 2022, there are a lot of cities and areas where you are highly likely to have no internet and no way to leave safely, much less use cryptocurrency.... This is a very realistic scenario, provided the global network is up and running

I understand what you're saying but it doesn't represent the global internet blackout, it's more of something that you got stuck in a place where internet is not available all the time but I am pretty much sure there's still internet available in Ukraine. Let's see the biggest picture if crypto has come to stall then it's only possible if we don't have internet at all in any part of the world even with that the cryptos will be safe but we only can't access until we access the internet.

Let me remind you something banking system will collapse completely if we don't have internet means we might be able to cash for a while but I am sure it's going downhill as well.

[joniboini]

For the short term, maybe I'll be busy looking for sidejobs to help me buy my daily expense. That being said, I've got a decent amount of fiat/physical assets savings so it would not affect my wealth that greatly, although losing my crypto investment would sting me a lot. Maybe I'll get headache for a while because of this but I think I'll manage for long-term. One of my sidejob probably will pay me with fiat instead so that means I'll have to pay more for conversion fees, so that sucks too.

[bitterguy28]

I propose to expand the topic a bit, and voice other scenarios in which cryptocurrencies will be unavailable to us for a certain significant period of time

what do you mean by unavailable? do you mean that the government banned and blocked anything that could allow us to use crypto or did it simply cease to exist?

not all cryptocurrencies will be permanent especially that they function over the concept of supply and demand which is very unstable at some point a lot of cryptocurrencies would not be the top cryptocurrency like how we see them now

but if you meant that it just simply is not available for quite some time like a day or so then i do not think anything bad will happen to me provided that my funds are as safe as i last saw them

[DrBeer]

From personal experience - if you find yourself in a territory under global attack, such as my country, Ukraine, suffering from a large-scale terrorist attack since 2022, there are a lot of cities and areas where you are highly likely to have no internet and no way to leave safely, much less use cryptocurrency.... This is a very realistic scenario, provided the global network is up and running

I understand what you're saying but it doesn't represent the global internet blackout, it's more of something that you got stuck in a place where internet is not available all the time but I am pretty much sure there's still internet available in Ukraine. Let's see the biggest picture if crypto has come to stall then it's only possible if we don't have internet at all in any part of the world even with that the cryptos will be safe but we only can't access until we access the internet.

Let me remind you something banking system will collapse completely if we don't have internet means we might be able to cash for a while but I am sure it's going downhill as well.

Cryptocurrencies do not require a GLOBAL internet shutdown. It is enough, for example, to destroy intercontinental connections. Well, for example, the European segment will be on its own and will not “see” the American, Asian, Pacific,.... The GLOBAL FORK of all blockchains will start, which means that the value of cryptocurrencies will become 0, because any currency bought in the local fork - does not give a 100% guarantee that it will be in the MAIN branch.

Back to Ukraine and banks. In 2022 the situation was very difficult as terrorist troops even managed to enter Kiev. At the same time there were problems with communication both terrestrial and mobile. But the banks continued to operate through physical cash registers, as ATMs were closed to prevent looting by the Russian occupiers, which is their “norm”. And immediately after the destruction of the occupants - the banks went into full-fledged mode and the work of all ATMs. I.e. the Internet is not critically important for them, as it is for the work of blockchain

[target]

From personal experience - if you find yourself in a territory under global attack, such as my country, Ukraine, suffering from a large-scale terrorist attack since 2022, there are a lot of cities and areas where you are highly likely to have no internet and no way to leave safely, much less use cryptocurrency.... This is a very realistic scenario, provided the global network is up and running

I understand what you're saying but it doesn't represent the global internet blackout, it's more of something that you got stuck in a place where internet is not available all the time but I am pretty much sure there's still internet available in Ukraine. Let's see the biggest picture if crypto has come to stall then it's only possible if we don't have internet at all in any part of the world even with that the cryptos will be safe but we only can't access until we access the internet.

Let me remind you something banking system will collapse completely if we don't have internet means we might be able to cash for a while but I am sure it's going downhill as well.

Cryptocurrencies do not require a GLOBAL internet shutdown. It is enough, for example, to destroy intercontinental connections. Well, for example, the European segment will be on its own and will not “see” the American, Asian, Pacific,.... The GLOBAL FORK of all blockchains will start, which means that the value of cryptocurrencies will become 0, because any currency bought in the local fork - does not give a 100% guarantee that it will be in the MAIN branch.

Back to Ukraine and banks. In 2022 the situation was very difficult as terrorist troops even managed to enter Kiev. At the same time there were problems with communication both terrestrial and mobile. But the banks continued to operate through physical cash registers, as ATMs were closed to prevent looting by the Russian occupiers, which is their “norm”. And immediately after the destruction of the occupants - the banks went into full-fledged mode and the work of all ATMs. I.e. the Internet is not critically important for them, as it is for the work of blockchain

We are moving digital already that some stores are not even accepting cash but cards only. Crypto  such as BTC is accepted everywhere and we all have them used almost everyday so if crypto disappears I think some of the crypto company operations will stop.

If crypto disappears, then we're all back to fiat again. My life will change drastically since I rely mostl of my business n crypto also.

[Dr.Bitcoin_Strange]

We are moving digital already that some stores are not even accepting cash but cards only. Crypto  such as BTC is accepted everywhere and we all have them used almost everyday so if crypto disappears I think some of the crypto company operations will stop.

If crypto disappears, then we're all back to fiat again. My life will change drastically since I rely mostl of my business n crypto also.

Yeah crypto is now inevitably part of our everyday life Now and crypto leaving the world is gonna have a huge impact on at least 40% of the world's population,  in the sense that, the world is now a global village and many people are opting in to the idea of digitalization, from technology to finance. People now see crypto transactions as more secure and convenient,  compared to the traditional form of payment and taking crypto out of the way would mean taking them away from civilization and taking them back to a world that lacks innovation.

Again, we all know that the emergence of cryptocurrency has provided a means of livelihood and job for thousands and millions of people around the world, so just imagine what would happen to that population who look up to cryptocurrency for their daily bread, they'll simply lose everything and it'll take them quite a long time to adapt to the current situation and a world without crypto, so yes it's really gonna affect the world immensely.

[Findingnemo]

Yeah crypto is now inevitably part of our everyday life Now and crypto leaving the world is gonna have a huge impact on at least 40% of the world's population,  in the sense that, the world is now a global village and many people are opting in to the idea of digitalization, from technology to finance. People now see crypto transactions as more secure and convenient,  compared to the traditional form of payment and taking crypto out of the way would mean taking them away from civilization and taking them back to a world that lacks innovation.

Again, we all know that the emergence of cryptocurrency has provided a means of livelihood and job for thousands and millions of people around the world, so just imagine what would happen to that population who look up to cryptocurrency for their daily bread, they'll simply lose everything and it'll take them quite a long time to adapt to the current situation and a world without crypto, so yes it's really gonna affect the world immensely.

40%? Are you sure? I would generously say it won't even reached 2-3%.

But it's highly unlikely that crypto can disappear, it can reach zero but it can't disappear for whatsoever,.

And Bitcoin didn't provide jobs or livelihood to people like you mentioned, it just gave an escape route for the people who were stuck with the centralized banking system for centuries and we has no alternative to trust them but 2008 made the big difference now we have bitcoin so if there is another crisis/recession most people would jump to crypto and never going back to the fiat papers.

[Dr.Bitcoin_Strange]

And Bitcoin didn't provide jobs or livelihood to people like you mentioned, it just gave an escape route for the people who were stuck with the centralized banking system for centuries and we has no alternative to trust them but 2008 made the big difference now we have bitcoin so if there is another crisis/recession most people would jump to crypto and never going back to the fiat papers.

Are you sure. Then I'll confidently say you don't have a clue of just how much Bitcoin and crypto is contributing to the loves of people. I'll say it again, there are people who depend on crypto as a means of livelihood hood because, there are lots of people 2ho live off of the profits they make from day to day crypto trading, as well as those who also rely on the incentives they obtain from carrying out some tasks within the crypto space. I've not mentioned those who are active hodlers of bitcoin,  who have already established a very solid bitcoin portfolio and are living off of the profits they get from there, I know this isn't applicable for everyone and not everyone are I  this class, but you'd be totally wrong to conclude that people aren't living ott of the benefits of crypto or that crypto hasn't created a means of livelihood for people.

[Zed0X]

If everything about crypto suddenly disappears, no choice but to accept my losses if that happened before I converted everything back to fiat or gold There are many things online that can be done to replace crypto activities but I'll probably miss the unimpeded moving of funds.

[Dr.Bitcoin_Strange]

If everything about crypto suddenly disappears, no choice but to accept my losses if that happened before I converted everything back to fiat or gold There are many things online that can be done to replace crypto activities but I'll probably miss the unimpeded moving of funds.

Indeed there are people who can be able to move on quickly with their lives if crypto is to go away, and there are also those who it will require a very long time before they'll be able to recover from the shock of Disappearance of crypto, it depends on how committed the person is to crypto and how much the person has already invested in crypto. You can't compare a person who just entered the crypto space a couple of months ago with a holding of less a thousand dollars or a few hundreds, and a person who has already invested more than 8 years and has been able to build a Portfolio of over a million dollars or even more. Surely, if anything is to happen to crypto and it eventually leaves the market, the person who has spent just a few months and with a lesser Portfolio would feel the lesser Impact Compared to the one who has spend over 8 years and have such a huge portfolio.

[0t3p0t]

If everything about crypto suddenly disappears, no choice but to accept my losses if that happened before I converted everything back to fiat or gold There are many things online that can be done to replace crypto activities but I'll probably miss the unimpeded moving of funds.

One thing that we are having no choice is decentralization and without crypto we are exposed to everything and people who is controlling the system might be very happy because we are all on their scope. I wish that this crypto thing won't disappear anytime soon or else we are left no choice.

[Agbe]

Let's model one situation - tomorrow morning, all cryptocurrencies cease to exist, there are no blockchains, no crypto exchanges, no P2P exchanges, no gates and other things inherent to the crypto market.
Question - what changes will happen in your life ? Just a request - let's be honest and not make things up, but objectively assess how the “disappearance” of cryptocurrencies can affect us?

This is why it's advisable for everyone to have multiple streams of income, online investments pays a lot but what is your back up plan when it fails or perhaps something happens, you should have a physical investment or business that's also putting money in your pocket. A lot of people have no other thing doing apart from crypto trade and other things online which isn't bad but you should always have a plan b, this would save you from a lot of trouble

[Sim_card]

Let's model one situation - tomorrow morning, all cryptocurrencies cease to exist, there are no blockchains, no crypto exchanges, no P2P exchanges, no gates and other things inherent to the crypto market.
Question - what changes will happen in your life ? Just a request - let's be honest and not make things up, but objectively assess how the “disappearance” of cryptocurrencies can affect us?

I might kill myself because it took me unaware because that is where most of my extra cash is thrown into. If I was aware then I can convert my bitcoin into cash and invest in a physical asset which will not affect me. There is nothing anyone can do than to look for another means of making money, after all, there are a lot of businesses before crypto came into existence and there are a lot of wealthy people who made made without crypto.

[DrBeer]

I propose to expand the topic a bit, and voice other scenarios in which cryptocurrencies will be unavailable to us for a certain significant period of time

what do you mean by unavailable? do you mean that the government banned and blocked anything that could allow us to use crypto or did it simply cease to exist?

not all cryptocurrencies will be permanent especially that they function over the concept of supply and demand which is very unstable at some point a lot of cryptocurrencies would not be the top cryptocurrency like how we see them now

but if you meant that it just simply is not available for quite some time like a day or so then i do not think anything bad will happen to me provided that my funds are as safe as i last saw them

1. We're not talking about “shitcoins”
2. We are talking about bitcoin, ether and other DECENTRALIZED cryptocurrencies.
3. Stablecoins do not belong to them - they are centralized and in fact are not cryptocurrencies in the full sense.

The reasons for inaccessibility may be different:
- legal regulations prohibiting the circulation of cryptocurrencies
- technological problems (e.g. destruction and fragmentation of the Internet, hacking of underlying crypto algorithms, ....).
- global cataclysms (natural disasters, global warfare,...)

[0t3p0t]

Let's model one situation - tomorrow morning, all cryptocurrencies cease to exist, there are no blockchains, no crypto exchanges, no P2P exchanges, no gates and other things inherent to the crypto market.
Question - what changes will happen in your life ? Just a request - let's be honest and not make things up, but objectively assess how the “disappearance” of cryptocurrencies can affect us?

I might kill myself because it took me unaware because that is where most of my extra cash is thrown into. If I was aware then I can convert my bitcoin into cash and invest in a physical asset which will not affect me. There is nothing anyone can do than to look for another means of making money, after all, there are a lot of businesses before crypto came into existence and there are a lot of wealthy people who made made without crypto.

If things like that happened like suddenly I don't think still have choice to get all our funds from our wallets whether centralized, non-custodial or hardware we're totally done. Not unless we have some fiat or other centralized assets we can use to survive then it's all good to go but if not I don't know how it's gonna go in the long run.