Bitcoin Under World War 3... - page 2.

Sithara007

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Quote from: Dem-artini on March 24, 2017, 12:57:36 PM

Quote from: J Gambler on March 24, 2017, 09:11:13 AM

If world war 3 will happen soon maybe lots of user of bitcoin would sell their coins the reason why is they will be needing money for to survive for the crisis happening to the world. If they died they can't even use bitcoin in second life much better to sell them or become worthless.

The fact that bitcoin will be sold is really so, but only the reasons will be different. I think that today many believe in the future bitcoin, but when hostilities begin, in the whole world, bitcoin will begin to lose relevance. Therefore, you do not want to risk your savings with risk.

I don't think that Bitcoin will lose its relevance. But at the same time, a lot of trade will happen as people will be desperate to buy food and supplies. The super-rich will start accumulating Bitcoin, as it is one of the few assets which can't be confiscated by the regime.

Dem-artini

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Quote from: J Gambler on March 24, 2017, 09:11:13 AM

If world war 3 will happen soon maybe lots of user of bitcoin would sell their coins the reason why is they will be needing money for to survive for the crisis happening to the world. If they died they can't even use bitcoin in second life much better to sell them or become worthless.

The fact that bitcoin will be sold is really so, but only the reasons will be different. I think that today many believe in the future bitcoin, but when hostilities begin, in the whole world, bitcoin will begin to lose relevance. Therefore, you do not want to risk your savings with risk.

J Gambler

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If world war 3 will happen soon maybe lots of user of bitcoin would sell their coins the reason why is they will be needing money for to survive for the crisis happening to the world. If they died they can't even use bitcoin in second life much better to sell them or become worthless.

novemberwoah

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Quote from: bryant.coleman on March 23, 2017, 05:02:17 AM

Quote from: novemberwoah on March 23, 2017, 01:39:40 AM

Quote from: sportis on March 22, 2017, 01:14:20 PM

Quote from: Xester on March 22, 2017, 07:06:12 AM

--snip--

If world war III erupts the first one to be destroyed are the satellites in space since those are necessary in winning the battle. This means that in the first wave of the war the internet connection will also be cut-off rendering bitcoin transaction and mining useless. Another thing is when the battle will occur electricity as well as computers storing bitcoins will be destroyed. In short if World War III occurs bitcoin will also die.

To my point of view this will never happen. There are about 1500 operational satellites around the earth according to pixalytics and imo is not an easy task to destroy them. Therefore, this not the case. I believe people will not bother with bitcoin because they will have to give priority in basic needs (food and water) and mining will stop because governments they will not permit vast amounts of electricity to be consumed only for mining processes.

In world war III is believed to be a nuclear war, and this will happen with terrible. Indeed you are right, I think satellites will not be destroyed because it is not the aim of world war III. But the impact of this war will only disturb satellite networks and not destroy, after this is exceeded will be back to normal. I agree with you, in this war I think the priority is not on bitcoin but on their basic needs. Bitcoin also I think are not going to die (like gold in world war II), and even the price could go up. Who will die is the currency because the economy certainly worsened in world war III and the impact on the currency.

Money and all forms of wealth loses value when catastrophes strike. Take the 1932-33 Soviet famine for example. Food became extremely expensive, after the crops failed. In Ukraine, peasants tried to purchase food with gold bullion coins and physical cash, but found that they are almost useless. Even when they could procure food against these assets, the exchange rates were heavily skewed. I am assuming that the same will happen in case of the next world war. Securing food will be the main priority, and cash/gold/BTC will lose their value.

Food to be expensive at that time I think because hyperinflation, so it's normal if currency becomes worthless and food to be very expensive. While gold I think even increase. Let's look at another example in the same time, during World War II in an era of upheaval (1930-1950) gold prices jumped from $ 20 per ounce to $ 40. I believe in a world war III bitcoin prices will also rise, because world crisis will occur that causes a lot of people save their wealth in bitcoin. Bitcoin is a valuable commodity besides gold that when World War III will be used by many people to save wealth. Moreover, bitcoin is very practical and easy to saving, so it will be the best choice.

RJX

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Quote from: Sithara007 on March 24, 2017, 05:00:33 AM

Quote from: RJX on March 23, 2017, 01:58:49 PM

What use has bitcoin when there is no electricity?

I think you will be better off focusing on water, food, shelter and medication.

Dude, technology has progressed so much that with a $10 solar panel, you will be able to generate electricity. If you don't want to use solar panels, then there are thousands of other options.

Ah that's right, I forgot I allready live in a cave so I don't need to worry about shelter.

Well good luck to you and your $10 solar panel then, hopefully there will be enough others keeping the network alive using solar panels, treadmills or bicycle conversions to get you that 1 confirmation.

get real.

Sithara007

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Quote from: RJX on March 23, 2017, 01:58:49 PM

What use has bitcoin when there is no electricity?

I think you will be better off focusing on water, food, shelter and medication.

Dude, technology has progressed so much that with a $10 solar panel, you will be able to generate electricity. If you don't want to use solar panels, then there are thousands of other options.

RJX

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What use has bitcoin when there is no electricity?

I think you will be better off focusing on water, food, shelter and medication.

bryant.coleman

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Quote from: novemberwoah on March 23, 2017, 01:39:40 AM

Quote from: sportis on March 22, 2017, 01:14:20 PM

Quote from: Xester on March 22, 2017, 07:06:12 AM

--snip--

If world war III erupts the first one to be destroyed are the satellites in space since those are necessary in winning the battle. This means that in the first wave of the war the internet connection will also be cut-off rendering bitcoin transaction and mining useless. Another thing is when the battle will occur electricity as well as computers storing bitcoins will be destroyed. In short if World War III occurs bitcoin will also die.

To my point of view this will never happen. There are about 1500 operational satellites around the earth according to pixalytics and imo is not an easy task to destroy them. Therefore, this not the case. I believe people will not bother with bitcoin because they will have to give priority in basic needs (food and water) and mining will stop because governments they will not permit vast amounts of electricity to be consumed only for mining processes.

In world war III is believed to be a nuclear war, and this will happen with terrible. Indeed you are right, I think satellites will not be destroyed because it is not the aim of world war III. But the impact of this war will only disturb satellite networks and not destroy, after this is exceeded will be back to normal. I agree with you, in this war I think the priority is not on bitcoin but on their basic needs. Bitcoin also I think are not going to die (like gold in world war II), and even the price could go up. Who will die is the currency because the economy certainly worsened in world war III and the impact on the currency.

Money and all forms of wealth loses value when catastrophes strike. Take the 1932-33 Soviet famine for example. Food became extremely expensive, after the crops failed. In Ukraine, peasants tried to purchase food with gold bullion coins and physical cash, but found that they are almost useless. Even when they could procure food against these assets, the exchange rates were heavily skewed. I am assuming that the same will happen in case of the next world war. Securing food will be the main priority, and cash/gold/BTC will lose their value.

novemberwoah

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Quote from: sportis on March 22, 2017, 01:14:20 PM

Quote from: Xester on March 22, 2017, 07:06:12 AM

--snip--

If world war III erupts the first one to be destroyed are the satellites in space since those are necessary in winning the battle. This means that in the first wave of the war the internet connection will also be cut-off rendering bitcoin transaction and mining useless. Another thing is when the battle will occur electricity as well as computers storing bitcoins will be destroyed. In short if World War III occurs bitcoin will also die.

To my point of view this will never happen. There are about 1500 operational satellites around the earth according to pixalytics and imo is not an easy task to destroy them. Therefore, this not the case. I believe people will not bother with bitcoin because they will have to give priority in basic needs (food and water) and mining will stop because governments they will not permit vast amounts of electricity to be consumed only for mining processes.

In world war III is believed to be a nuclear war, and this will happen with terrible. Indeed you are right, I think satellites will not be destroyed because it is not the aim of world war III. But the impact of this war will only disturb satellite networks and not destroy, after this is exceeded will be back to normal. I agree with you, in this war I think the priority is not on bitcoin but on their basic needs. Bitcoin also I think are not going to die (like gold in world war II), and even the price could go up. Who will die is the currency because the economy certainly worsened in world war III and the impact on the currency.

GreenBits

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Quote from: sportis on March 22, 2017, 01:14:20 PM

Quote from: Xester on March 22, 2017, 07:06:12 AM

--snip--

If world war III erupts the first one to be destroyed are the satellites in space since those are necessary in winning the battle. This means that in the first wave of the war the internet connection will also be cut-off rendering bitcoin transaction and mining useless. Another thing is when the battle will occur electricity as well as computers storing bitcoins will be destroyed. In short if World War III occurs bitcoin will also die.

To my point of view this will never happen. There are about 1500 operational satellites around the earth according to pixalytics and imo is not an easy task to destroy them. Therefore, this not the case. I believe people will not bother with bitcoin because they will have to give priority in basic needs (food and water) and mining will stop because governments they will not permit vast amounts of electricity to be consumed only for mining processes.

Valid point. Even if the network still exists, staying alive would take the cake, I don't think folks would bother with btc given how unreliable access would be in this situation. There might be nternet, but it just won't be everywhere. Also, ID much rather some ammunition, food, or precious metal, as they would be the most liquidable assets in this scenario. Hell, medicine, tools, seeds, nutrients, seasonal clothes, drugs, fuck it, anything that I can hold in my hand and has value, period.

Although magic internet money has its advantages, a SHTF scenario is not its shining moment.

Sithara007

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Quote from: Adelajda on March 22, 2017, 07:31:48 PM

I wish there is no other war coming up because war always destroys everything and nothing will be the same after a war ,like everything bitcoin wont exist if there is a world war because the first issue we will encounter is the telecommunication system and without it you really cannot use bitcoin let alone telecommunication systems.

According to the Goddard Space Flight Center, there are more than 2,000 artificial satellites orbiting the earth. I don't think that all these satellites will be destroyed in case of a world war. So some sort of telecommunication system will remain, and will be functional with limited ability.

Adelajda

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I wish there is no other war coming up because war always destroys everything and nothing will be the same after a war ,like everything bitcoin wont exist if there is a world war because the first issue we will encounter is the telecommunication system and without it you really cannot use bitcoin let alone telecommunication systems.

sportis

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Veni, Vidi, Vici

Quote from: Xester on March 22, 2017, 07:06:12 AM

--snip--

If world war III erupts the first one to be destroyed are the satellites in space since those are necessary in winning the battle. This means that in the first wave of the war the internet connection will also be cut-off rendering bitcoin transaction and mining useless. Another thing is when the battle will occur electricity as well as computers storing bitcoins will be destroyed. In short if World War III occurs bitcoin will also die.

To my point of view this will never happen. There are about 1500 operational satellites around the earth according to pixalytics and imo is not an easy task to destroy them. Therefore, this not the case. I believe people will not bother with bitcoin because they will have to give priority in basic needs (food and water) and mining will stop because governments they will not permit vast amounts of electricity to be consumed only for mining processes.

bering

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i wish this is would never happening but if someday really happened i predict annihilation effect will be so huge because most of countries already have highly sophisticated weapons systems even some of them also have nuclear weapon with incredible destructive power so WW3 would be the biggest wars in the history and i think people would not thinking how to save their bitcoin and in this case bitcoin will dead

Xester

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Quote from: iamTom123 on March 17, 2017, 11:12:52 PM

I have been thinking about this scenario. There are still many people who are thinking that the possibility of a global war can happen anytime soon. The destruction that WW3 can bring may put humanity on the brink of near annihilation.

Now, am thinking...what will happen to Bitcoin if WW3 erupts? Will the value diminish or will it freeze itself? Some quarters are saying that in a global war, gold can be better but still you can not eat gold...so food can be more valuable.

If world war III erupts the first one to be destroyed are the satellites in space since those are necessary in winning the battle. This means that in the first wave of the war the internet connection will also be cut-off rendering bitcoin transaction and mining useless. Another thing is when the battle will occur electricity as well as computers storing bitcoins will be destroyed. In short if World War III occurs bitcoin will also die.

Chikito

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if a world war 3 occurs may bitcoin will be frozen, severe damage of the war certainly lethal means and infrastructure technology, perhaps some exchange will be closed temporarily, and data loss. yes i agree if groceries a luxury item if there is a war.

kenesu

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Quote from: iamTom123 on March 17, 2017, 11:12:52 PM

I have been thinking about this scenario. There are still many people who are thinking that the possibility of a global war can happen anytime soon. The destruction that WW3 can bring may put humanity on the brink of near annihilation.

Now, am thinking...what will happen to Bitcoin if WW3 erupts? Will the value diminish or will it freeze itself? Some quarters are saying that in a global war, gold can be better but still you can not eat gold...so food can be more valuable.

its too sad to think if this is going to happen. More or less bitcoin will lose its use since war will cause a lot of problem in online community, overall communication. So I hope WW3 will not happen.

Idrisu

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We do not pray for ww3 but for your question what will happens to bitcoin if the ww3 breakout? During wars what people will be thinking is survival! No body will put their minds in bitcoin or gold. Foods water and others necessities will be the first priorities maybe after the war then bitcoin will play an important role of economic recovering.

GreenBits

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Quote from: JavaLove on March 21, 2017, 07:39:39 PM

I believe that Bitcoin will be our last resource in times of need. Especially during a complete and total war. Think of all the taxation that will be done to raise funds for the military. On top of that, forex trading will not wish to invest in any country's currency who is under an attack from a war.

I believe that people would have to look to Bitcoin in order to keep their financials in check -- and in order to survive. Imagine a tyrannical nuclear war were to break out. No businesses will be able to run and freedoms will be taken away in exchange for martial law where leaders and politicians can do whatever they please. The IRS would collect all the money, homes would be raided.

These are really scary and drastic proposals, but it's truly what the government will do to its citizens in the name of security. Therefore, government will lose all respectability causing the masses to flock to alternative currencies. And for that, the only trustworthy one is Bitcoin. Therefore, I believe that Bitcoin would surely profit during a war.

Let me finish this topic for everyone. If we have a WW3, I can pretty much assure you that, along with alot of other shit, bitcoin will no longer exist. And if it does, well, you probably have some pressing, radioactive shit to worry about instead.

WW3 = total destruction = no internet = no bitcoin.

Vivace92

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I'm sure that someday the world will be coupled with the single currency, one side it's good but the other side will create a monopoly and the embargo so as to make others suffer.

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