What happens if internet connectivity gets terminated - page 2.

bennypagulayan

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Quote from: romero121 on January 25, 2021, 03:48:22 AM

Right now each and everything is connected with internet and technology. The future of banking might happen through blockchain technology and bitcoin in mass adoption. By that time what will happen with the banking process if there happens a termination of internet connectivity for few days time.

I wouldn't have been able to imagine life without the internet in this era. Internet is so important, it is an obvious need, a part of life .. On the general aspect, the internet shutdown is not impossible, it is not inviolable. But it seems too serious for all activities related from personal online needs, commerce, economics, ... lack of internet? it's too serious to be dreadful.

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“If we hold the cell phone in our hand, we would rarely talk to a stranger on the bus. The world will not be destroyed if it loses the Internet for a few days, ”said Stine Lomborg at the University of Copenhagen

Anyway, it's just an assumption. People will have many alternative, compatible inventions if that happens!

cocoladygaga

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All your data will be lost, your identity information, mobile phone number, bank card, and you won’t care about Bitcoin anymore.

kiki8899

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Nowadays, human life is inseparable from the Internet. All people in the world will work hard to avoid it.

ice18

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Quote from: romero121 on January 25, 2021, 03:48:22 AM

By that time what will happen with the banking process if there happens a termination of internet connectivity for few days time.

Are you talking about worldwide outage of internet connection? If this happens then its a very big problem not only in banking sector but to almost every business running since most of them today uses internet to connect to banks, clients/customers even in just an hour of no internet connection huge money will be lost into big businesses what if it last in a few days? There will be a chaos for sure.

dunfida

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Imagine if there would be no internet connection.

~Entire market(forex,stocks,indices etc.) will be postponed
~communications will be cut off
~Transactions online will be cut off

These are only the few main ones, and losing connection in just a minute would already be a devastation.

CarnagexD

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There will first become civil unrest, most of it coming from the Gen Zs who already lived with the internet becoming readily available. Us who have lived for a while will not be that aggressive until we confirmed that internet use is banned indefinitely, from there we will find ourselves fighting for our rights. On the other side of the spectrum, our bitcoins could possibly be two things. Dead or in purgatory. Dead when I say they lose value almost to nothing, or in purgatory if their value stagnated or lay-lowed within a certain range.

kawetsriyanto

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It will make big trouble in all places in the world. We must realize that the internet has a crucial function right now. For example, crypto market, how can we access crypto exchange if the internet connectivity to be terminated. All traders lose their jobs and crypto exchanges will get bankrupt suddenly. So, I think it is rather impossible to terminate the internet connectivity.

k@suy

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Quote from: romero121 on January 25, 2021, 03:48:22 AM

Came to a bank to repay monthly premium for the loan taken providing gold as collateral. I reached the support executive to know the total amount to be paid to get the collateral submitted. The internet connection has got some issue, and I wasn't able to get the required details. By the time it remembered me of the bitcoin into banking where everything is interconnected.

Right now each and everything is connected with internet and technology. The future of banking might happen through blockchain technology and bitcoin in mass adoption. By that time what will happen with the banking process if there happens a termination of internet connectivity for few days time.

I think it will lead to a larger problem, but as of now I don't think that internet connectivity will be terminated nor stopped, we already have it for a long period of time, most of the people in the world already used and know that in their daily lives, it became one of the things that are must needed this time since we are in the digital Era so it would not be terminated, it cannot happen and people will do some backup everytime they will got a problem on it.

Rengga Jati

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Currently, our lives are very dependent on the internet network. All kinds of activities, jobs, businesses, and also relationships are very dependent on the internet. Why? because this is related to technological advances that are always connected to the internet. so it's not just the banking system. In the world of crypto alone, if there is no internet connection, it will really hinder us, even we may not be able to access it anymore.
In this sense, the internet has become a part of our lives.

well, then what if the internet doesn't exist?
Here we know that each country certainly has its own network and internet provider. As long as the conditions are still normal and there is no major disaster, I am sure that the internet connection will continue.

Ridwan Fauzi

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Tell me some or one factor which can make the internet network can be terminated? I guess there is no chance against that, almost the human activity now is being accompanied with internet. Except indeed from the regulations of each country, such as North Korea, you will not be able to use the internet freely and may be strictly prohibited in that country. However, there is only one country in the world, the rest of the countries in the world are still free to use the internet.

oktana

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If the internet gets disconnected even for a day, there'll be huge problems. Not about Bitcoin, the world today cannot operate without the internet, not even for a day. Products and services have entrust their connections to the internet, and termination of the internet will break this. The prices of things will spike up because communication will get expensive. In fact, it'll be a disaster.

saffira

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Quote from: romero121 on January 25, 2021, 03:48:22 AM

Came to a bank to repay monthly premium for the loan taken providing gold as collateral. I reached the support executive to know the total amount to be paid to get the collateral submitted. The internet connection has got some issue, and I wasn't able to get the required details. By the time it remembered me of the bitcoin into banking where everything is interconnected.

Right now each and everything is connected with internet and technology. The future of banking might happen through blockchain technology and bitcoin in mass adoption. By that time what will happen with the banking process if there happens a termination of internet connectivity for few days time.

It is a total shutdown for everyone when internet is terminated. But, it is impossible. Everything now depends on internet. Businesses,banks,schools and even government transactions goes through internet. It may possibly happen if government restricts the connection unlike now that everyone can connect. And going back to the tedious manual process really got me sick.

uneng

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The world as we know can't survive for few days without internet. If this happened, chaos would start everywhere and probably it would be a signal of an iminent world war.
However this is 99% unlikely to happen and as technology advances the chances become lower and lower. Soon every corner in the world will have decent internet connection thanks to sattelites that are just now becoming popular for this purpose. A world moving towards digital era fastly can't neglect internet connection quality and accessibility even on the most remote areas.

mardaed

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Quote from: romero121 on January 25, 2021, 03:48:22 AM

Came to a bank to repay monthly premium for the loan taken providing gold as collateral. I reached the support executive to know the total amount to be paid to get the collateral submitted. The internet connection has got some issue, and I wasn't able to get the required details. By the time it remembered me of the bitcoin into banking where everything is interconnected.

Right now each and everything is connected with internet and technology. The future of banking might happen through blockchain technology and bitcoin in mass adoption. By that time what will happen with the banking process if there happens a termination of internet connectivity for few days time.

With this era being heavily dependent to internet and technological advancements as a whole, if internet connectivity will be terminated or even halted shortly, it will definitely impact many activities and transactions. Consequently, would affect businesses and many economic ventures. Honestly, I don’t see the world functioning like it does now if internet connectivity will not be a part of it.

samputin

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Quote from: cheezcarls on January 25, 2021, 06:02:19 AM

I would freak out if there is no internet connectivity for a long while since my job is so dependent on the internet. There are countries by the way that are blacking out their citizens from the internet because of elections, civil unrest, etc. I can’t stand a day without the internet, even just for a little while.

I feel you, dude. I mean, my job does not necessarily depend on the internet but it sure helps me a lot in gathering other necessary materials to carry out my tasks.

Actually, I have already experienced not having a strong internet connection for several days since our place and our country does not have the best internet service. It really affects a person's productivity. And in case the internet will be totally gone even just for a day, that would definitely suck. I can stand intermittent internet connection but having none at all is a different story.

qwertyup23

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I doubt that this can happen. So I try not to even think about it.

Yup, I really doubt that this would happen as the internet became the backbone of almost everything that the world has to do especially with its processes.

To be honest, along with the current technological advancements happening, the world will most likely shift to a cashless form of payment in the far future. Bitcoin, along with other altcoins, will play a huge role on the transactions as well as to the next generation of investing.

In reality if the internet connectivity gets terminated, my bitcoins would be the least thing that I will be worried about.

Yatsan

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If ever the internet gets terminated, many things like works related and dependent on internet connection will be interrupted for sure and that would be a headache for the fact that almost all things existing in the world is made possible by having internet connection even the transactions we have on banks and work related stuff are interconnected on having internet. For sure working with Bitcoin and other cryptocurrencies too will be disrupted because of the termination. We might be likely to be back on old days for sure having no internet which kinda frustrating because modern days almost require internet to work out things to be possible.

death69

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If internet connectivity gets terminated for only a week, it will create another recession which I believe to be the biggest and strongest that can fuck up the whole economy. Our world nowadays depend a lot on the internet since most of the activities require connection in order to proceed. Without the internet, everything will be stagnant and the information can not flow smoothly through any place on this planet

However, I believe bitcoin will remain safe since no one has a chance to access to the blockchain which mean your balance will be totally safe. However, using third party wallets is more dangerous than hard ware wallets since their database can be erased after this destruction. If they can not distinguish which bitcoins belongs to who, you can probably lose your money

Kakmakr

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I am not saying it is impossible for that to happen, but it is highly unlikely that it will happen globally. There are backup plans for everything... even redundancy measures, if the Internet goes down.

Also remember, if the Internet goes down globally... ALL other financial systems are also f%cked! So your local Bank will not be able to give you money, because it cannot link to the mainframe and the ATMs cannot connect to the Banks network. Also Point of Sale systems and online Banking will fail. Wink

GeorgeJohn

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The only issues I find there is that, provided that their is lacks of internet both banking fiat system and other social interactive system will shutdown within the interval and some people who their business and budgets is based on online will lose immensely, and if it happened to a specific country that shows that some documents will be deviate and hackers will penetrate to some wallets by using another network, so looking at internet is contributing for different purposes both for security and financial aspects of life. So it's incomplete without network

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