Topic: What happens if internet connectivity gets terminated - page 3. (Read 581 times)
premium loans plus gold as collateral ? wow that sounds freakin nice . the loaned amount must be really good but anyway you can always wait for the internet to resume or if your in a hurry you can come back again for some time and im sure that all banks now have an online platforms , you can try checking your status on there . its rare for bitcoin to be involved in banking but btc uses an internet before banks did, you didnt realize it before ? no internet means no way to access or process a transaction but if you already sent a btc to address and the internet suddenly shut off , the transaction will still go thru . that is the goodness of using a btc
a system mess was definitely going on, as well as a new update to the data store when it hadn't been saved yet. The connection makes us know that the weakness of the internet network is only one, namely electricity. ah, we really are dependent on the internet. if in just a few days experience blackout, all data and information are not organized.
Internet is playing a very massive role in the world today, and because of its usefulness and Importance, every business that is using the internet is meant to be at high alert, such that, if there is any problem which affects the internet, they sort it out immediately because they know many things would be at stake. Also, there are some things that cannot be avoided, assuming there is a problem within a location which affects internet, it is normal for the bank services to be affected but what matters is the effort which they will put in place to resolve it as soon as possible, because if it lingers people will be stranded and issues might break out if care is not taken. Thus, in my own understanding, owing to the role banks plays in the world today, if an issue occurs which will disrupt the internet banks will put in every resources to ensure it is solved immediately, it is unlikely it will last for days or even hours. Also, talking about termination of internet connectivity, that is highly unlikely to happen in this current era, because a lot of businesses and services are based on the internet and that would be like turning the world into darkness.
With a technique called Proof of work, bitcoin mining is based on high electricity consumption. In this sense, it must be thought that a power outage may disrupt bitcoin mining. However, if there is a global and systematic power failure, noone will know whether the money in the banks actually exists. I would like to remind you that the paper money we have is one-eighth of the money we use in the whole year and the main payment works are handled from bank accounts, the large amount deferred checks and of course POS machines in the shops.
By that time what will happen with the banking process if there happens a termination of internet connectivity for few days time.
I don't think they will let the internet be terminated for few days or more because most of us revolve around the internet right now and having terminated for a while will cause vast damage. Not only crypto will be affected but the economy of everyone's country, billions of money will be gone. That's why it's not gonna happen. Losing internet connection was the weakness of everything not only Bitcoin. Vast networks are we talking here so if it's got terminated and so most of the transactions are.
I only think a simple. Everything that used the internet connection will have disturbed, and it can not work properly as usual.
The bank will get into big trouble because the network will need an internet connection, but if the transaction is between the local bank with the same city, I think that will not be a big problem.
Bitcoin needs an internet connection when you want to send or receive the amount, so we can use it when the internet is offline.
The blockchain network will not get confirmed, and there will be so many transactions that will delay having confirmation.
I remember about Die Hard 4 movie, in which the hacker can compromise all things that used telecommunication.
I think that will be like that for what will happen if the internet suddenly terminated.
The bank will get into big trouble because the network will need an internet connection, but if the transaction is between the local bank with the same city, I think that will not be a big problem.
Bitcoin needs an internet connection when you want to send or receive the amount, so we can use it when the internet is offline.
The blockchain network will not get confirmed, and there will be so many transactions that will delay having confirmation.
I remember about Die Hard 4 movie, in which the hacker can compromise all things that used telecommunication.
I think that will be like that for what will happen if the internet suddenly terminated.
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.
hard to tell. I'll wait patiently until it returns to normal 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.
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.
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.
Internet Connectivity is now a necessity that is/will be needed for the current situation and future situations. The application of Internet is not only for our financial means to gain more money because its now also used for people in their Online Classes and other Online works that requires them to be connected to the Internet at all time. If the Internet gets terminated, people will surely return to a time in which everything needs to be connected physically which means more usage of their physical body outside their houses.
If the Internet stops, I think Bitcoin will perish, because no one will remember such a long key, and no one will keep accounts.
The entire industrial world depends on the internet .
Remember 2K ? The panic at just the remote chance of an internet collapse ?
Best to keep a couple of thousand bucks in the mattress . Oh ,and a gun. Things could get ugly fast .
Remember 2K ? The panic at just the remote chance of an internet collapse ?
Best to keep a couple of thousand bucks in the mattress . Oh ,and a gun. Things could get ugly fast .
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.
We know on what would be the world looks like if internet will really be lost. Here's some article about it which would really be worth to read.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.
https://www.bbc.com/future/article/20170207-what-if-the-internet-stopped-for-a-day
I cant comprehend on what would happen if thats the case. Going back to stone age? hehe
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.
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.
If internet connectivity is lost it will not only affect the banks. Bitcoin will also be affected. We cannot send or receive bitcoin without data being on. It will be a bad moment for everything on earth. Aviation and healthcare will also be affected because they too rely on the internet too.
Though, the chance of the internet going down just like this is close to 0. This is only a what if scenario.
This depend on the Country you are because I don't think with the way technology is being improved on everyday basis we have to wonder on internet connectivity. This happens often in my country and is being settled within hours.
Connectivity problem is not a technical error so it will never terminated in any country. All the sectors are surely survive in internet connection so, we expect the more reliability of strength in internet. May be we think it will happen in future, obviously total country will stuck and all platforms are termintated Again back to 50 years in olden days. 
By that time what will happen with the banking process if there happens a termination of internet connectivity for few days time.
First, that's highgly unlikely in developed countries.
In the same way that the power can go out in a neighborhood of a city for a few hours, the same can happen with the Internet, but do not expect a massive blackout in all countries for several days and, even if that were to happen, the blockchain would still be there. The scenario you raise is so unlikely that I don't worry about it.
Nowadays the world has to be sure that electricity problems for internet and the most demanding services are always ready for every challenge. But in any way, I don't want full digitalisation, digital is still a new thing for us and I think we are doing everything very quickly, we have to slow down a little bit but continue steady and focused growth in digital.
Btw if internet connectivity gets terminated, the world will stop and will be a chaos for a while like it was during the first months of Covid pandemic. Everything works online, a lot of people have money on banks account and imagine, one day you wake up and the world doesn't have money, it will cause brutal chaos. The chance that it will happen exist but actually it won't happen (the chance that sun will fall tomorrow exists but it won't happen, statistically everything has probability).
Btw if internet connectivity gets terminated, the world will stop and will be a chaos for a while like it was during the first months of Covid pandemic. Everything works online, a lot of people have money on banks account and imagine, one day you wake up and the world doesn't have money, it will cause brutal chaos. The chance that it will happen exist but actually it won't happen (the chance that sun will fall tomorrow exists but it won't happen, statistically everything has probability).
It will surely affect the crypto if in case the internet connectivity will be terminated and if it will be fully terminated then crypto will surely to die as crypto is very dependent to internet connectivity unless the developer can find some solutions to counter this kind of problem if in case there are no internet already.
But if it will be terminated for few days only then it will not affect that much for sure as the payment can wait if in case they cannot do something to restore the internet connectivity. As a conclusion everything will depend on how the team behind the crypto will adapt if in case this kind of scenario will likely to happen where internet connectivity is their main problem.
But if it will be terminated for few days only then it will not affect that much for sure as the payment can wait if in case they cannot do something to restore the internet connectivity. As a conclusion everything will depend on how the team behind the crypto will adapt if in case this kind of scenario will likely to happen where internet connectivity is their main problem.
Anyone still remember goTenna?
https://twitter.com/Coinsurenz/status/1052022462790033408
And we have a thread about it by @fillippone [Total privacy Bitcoin]: off grid Transactions LoRaWan/goTenna
https://twitter.com/Coinsurenz/status/1052022462790033408
And we have a thread about it by @fillippone [Total privacy Bitcoin]: off grid Transactions LoRaWan/goTenna
Bitcoin needs the internet connection to function, while goTenna only works for regional or local blackout because its devices have a max range of about 3 to 4 miles.
in terms of a global event like a nuclear war that could terminate the internet, then nothing we can do about it, forget about bitcoin, paper money, banking system, etc, prepared for stock supplies and ammo to survive.
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.
If there is a problem with the internet connection, assume it just for a few days, then there are some solutions like mesh network such as goTenna or Locha mesh, and The Blockstream Satellite Network, to transmitting messages, data, bitcoin transactions, and services completely off-grid without having to rely on an Internet connection or even the electrical grid due to battery-powered and could also use solar panels.
In my opinion nothing bad would happen to Bitcoin in such case - the Internet would be connected again and everything would be ok.
I am not yet at the technical level of knowledge to completely understand what would happen to the Bitcoin blockchain network if internet suddenly shuts down all over the world and then restarts the next day, week, month, etc.
My best guess is that once the blockchain is restarted we could make a fork that takes the chain from the moment the last moment the network was online before the shut down and continue onwards from there.
Any insights or opinions?
Would be terrifying especially nowadays wherein almost everything relies to such connection. I guess if it will be gone in an instant, things won't be done already. People will innovate another connection which will be a replacement to such 'technology' because we have seen its benefits and advantages, ofcourse our race won't just forget its function. Unless the reason for such occurrence is world chaos wherein there will be no time to innovate things since it will be survival that will be more concerned. But to cut the exaggeration, there will be massive changes in the world, I guess. Digital things would be mainly affected for sure as well as our lives wherein we are now dependent to it.
This depend on the Country you are because I don't think with the way technology is being improved on everyday basis we have to wonder on internet connectivity. This happens often in my country and is being settled within hours.
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