Topic: The time is WWIII, what are our Bitcoin Doomsday Preppers doing? - page 2. (Read 606 times)

My life is more important than bitcoin. And I do not even know if internet will survive or the miners will continue to mine bitcoin if their country is being bomb with nuclear missiles. Bitcoin will be the last thing on my mind.

Am I the only one who highly doubts there will be a WWIII

If WWIII happens, and we're worrying about nuclear warheads and mutually assured destruction, then the last thing on my mind (and most anyone else's) will be Bitcoin. This is where a lot of bitcoiners have it wrong. Economic turmoil and global war would be devastating for BTC.

People would be concerned about surviving and providing basic necessities, not transacting in digital currencies. Besides, much of the internet infrastructure could be destroyed in such a scenario, rendering the "network effect" of BTC mostly dead.

First of all there won't be a wwiii, cause countries like usa and Korea know they can't afford to attack each other and India and China are standing down so for the time being we can be at peace. If in case it does happen, first priority to protect myself and then to move to a safe country or pass my coins to someone who's on a safe country, that's the only way to protect your coins, one risk is that person may not give you back, but at that time it won't even matter.

These kind of WWIII scenarios always feel a bit speculative to me - it really depends on how this war will be fought: will it be traditional warfare (in the worst case even including nukes)? Will it be an escalation of what we are seeing right now (i.e. terrorism in western countries -> western countries retaliating with combat in other countries). Or will it be purely cyber warfare?

On one hand, I can understand the notion that Bitcoin seems like a good alternative for when this kind of Doomsday scenario happends. But keep in mind: a global war of unseen sizes would likely also destroy considerable parts of the developed worlds electrictiy and network infrastructure. What good is my BTC, if no digital services are available anymore to facilitate payment with? Thats why my tendency is to say: if you want to be a Doomsday Prepper, prepare entirely for an offline, no-electricit life. So buy yourself tradeable goods (food, medicine, gasoline etc) that will be valuable even if all IT infrastructure is disabled.

Some of these governments might make it illegal again or the enemy will just raid your wealth, when they occupy your country. The problem with gold is, it is heavy and difficult to hide and transport. I can move between countries with my bitcoins, without any of these problems. < If I want to relocate my family to a neutral country >

Bitcoin is a perfect "Doomsday" solution for traditional currencies, because no exchange between currencies is necessary, if one of these currencies crash, Bitcoin will still protect the value of your wealth in another currency, when you relocate.   

If there will be something like WWIII, I don't want to experience it. But since years I have the feeling that we are getting closer and closer to a big global change. I think such an event would lead to hyperinflation of fiat currencies all over the world. Bitcoin will be very strong during this times, but it may become illegal to hold and use. Remember the Gold Reserver Act from 1938 which made it illegal for ordinary people to hold gold.

We live in some dangerous times, where countries are pointing nuclear missiles at each other. We should be prepared for everything and that includes, protecting our technology/currency.

We have seen Bitcoin going into space! Blockstream Inc. plans to make the digital ledger underpinning the cryptocurrency accessible via satellite signal so people without Internet access, or in places where bandwidth is expensive, can trade and mine bitcoin. The company also touts the service as additional layer of reliability for bitcoin’s blockchain data in the event of a network disruption.

Merchants using Bitcoin payment processors should re-think their strategy, because these payment processors are linked to the fiat systems and those networks might be compromised during a nuclear attack.

How are you planning to keep the power on and where will you be buying bitcoins when the power is down at your local exchange? < One more reason not to store your coins at your local exchange >

Mobile networks might also be down or overloaded when communications infrastructures are damaged. Internet access might also be disrupted, if these attacks are combined with Cyber attacks.

What redundancy are implemented at third party services to prepare for the worst?

Share with us, what prepping are you planning for in a Doomsday scenario?