Topic: What happens if internet connectivity gets terminated (Read 656 times)
If the internet is turned off and no one can do their activities in cyberspace, then it is certain that the world is in the end because until now everything is heading for the digital era and more advanced development and some have even planned a 6G internet network in 2030 in the future, maybe there are some special people who already enjoy this network, so it is impossible if the internet connection is turned off easily.
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.
This is one of the main high tech vulnerabilities. The higher they are, the more global failures in their work can be when assessing the amount of damage caused. It is quite possible that something will happen and all our satellites that provide the Internet will fall from the orbit of our planet. Cryptocurrencies and other non-cash payments that only work with the Internet will simply disappear. That is why we must have other, alternative methods of monetary payments, and above all cash paper money.
The disconnection of the internet has a direct impact on entrepreneurs and residents who will be neglected by business problems, traffic will be congested and residents cannot order food online through applications and motorbike riders are unemployed and almost all who rely on the internet network will be disrupted and disadvantaged.
including crypto users and others because the more advanced technology is, the more important internet connectivity is to access it, and hopefully that doesn't happen even if it's only for a moment because it will have a big impact.
including crypto users and others because the more advanced technology is, the more important internet connectivity is to access it, and hopefully that doesn't happen even if it's only for a moment because it will have a big impact.
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 choose the banks to delivers what we need and when we need it. The fact is, most of the banks will be much more efficient due to internet so if internet is gone then expect the delay of all of your urgent bank transactions as you cannot have access to online banking if you don’t have an internet connection.
If the internet connectivity gets terminated, our daily activity will change all of a sudden. Cellphone services will be unavailable, application and social networking sites will stop working, cloud storage and essential files will be inaccessible. Lastly, The online payment system will be down, especially bitcoin and other cryptocurrencies. The internet is already part of daily life, especially for us crypto users, because some are using crypto as a daily source of income.
Well, one day we will return to prehistoric times. Internet interruptions will significantly affect the quality of life, education, people and economy. all will go to the dead end
IMO this is why at least some countries will never go 100% cashless, because relying on the Internet and electricity 100% of the time makes you vulnerable. Imagine scenario where a pharmacy loses internet connection and can't accept payments, so people with a medical emergency can't buy medicine. Or if hackers attack payment systems like Visa to leave the whole economy paralyzed for hours.
Unlikely to happen with advance countries to average countries which are the developing countries. Internet is already like a food to us and mostly to the companies that are relying on it. But to say that internet gets interrupted for a limited time, you'll see that there will be trillions of losses in the entire economy which will cost a lot not just from the biggest corporations but also to the government of each countries. And relating to bitcoin, it stops transactions and mining but I don't think an entire global interruption of internet will happen. There would be a possibility that there's an interruption on the East but not on the West and the same as North and South of the globe.
If ever the internet gets terminated, cryptocurrencies and banking wouldn't be the only one that will be affected. It would pose global threat for certain as systems in the world would crumble. Internet plays a vital role in many aspects and life and businesses almost depends on it. It would surely produce a chain reaction which may lead to the downfall of the economy of many countries and may also cause chaos and misunderstanding to many. Connections to farther people would be more difficult and it may end up being catastrophic later on.
These days everything depends on the internet and many businesses will be destroyed after terminating the internet connection. Not just the business but some bank works such as online payment methods, etc.. will be broken. Internet is a huge part of our lives and shutting it down won't be easy, even for a few hours. Terminating internet connection will affect the bitcoin and crypto but first, before bitcoin, this will destroy the whole economic world. As an example, I'm a developer and all my income comes from the internet, after terminating internet connections I'll lose my job.
Of course, everything is directly based on the Internet. Nothing is conceivable without the internet. The maximum movements of our country will be deterred when the internet is terminated. The fact that we inhabit this crypto, commonly it will also stop. I can't imagine anything but the internet. And I also speculate that no one can be satisfied without the Internet. This problem exists in all cases and depends on the infrastructure of the country. In the first years when electricity came, everyone said that they were upset about it or why when there is a candle and ... and we can have it permanently from electricity Let's use.
But we all know the benefits of having electricity, and so is the story of Bitcoin.
Wait, what? I though the topic is about termination of Internet connection/use? kidding aside, I think you are getting off the topic.But we all know the benefits of having electricity, and so is the story of Bitcoin.
Indeed, we may say that the world nowadays is interconnected by Internet, especially with regards to our technology at this moment. And we may say it is playing a huge role in our daily lives. If someday this connection will be gone, it would be a huge problem in different industries but I doubt nothing will be done by people or governments in order to cope up with the problem. There will be actions but the situation will have delays I guess.
This problem exists in all cases and depends on the infrastructure of the country. In the first years when electricity came, everyone said that they were upset about it or why when there is a candle and ... and we can have it permanently from electricity Let's use.
But we all know the benefits of having electricity, and so is the story of Bitcoin.
But we all know the benefits of having electricity, and so is the story of Bitcoin.
We all know that digital currencies and transactions will not work without internet, therefore, cryptocurrencies are relying on it.
Big companies will surely become bankrupted as there will be a recession that will occur because market activities will be stopped. Internet is the number one thing that can make the world fall apart when it gets terminated. People are relying on the internet because we are living in a world that connects us through internet.
It really makes our lives become much better and easier and I think that all of our hard-work in our investment will be put into wastes when internet disappears.
Internet was really one of the greatest things that have been invented and because of this internet, we are doing the work easier through the use of this internet. If this internet will be terminated nor stop then probably the cryptocurrency will also collapse because this cryptocurrency is relying also on the internet, that's right that when the internet gets terminated many big companies will collapse also and they will get bankrupted because many of the companies are using the internet and its connectivity. Internet was one of the necessities right now and I can't imagine again a world without the internet. Big companies will surely become bankrupted as there will be a recession that will occur because market activities will be stopped. Internet is the number one thing that can make the world fall apart when it gets terminated. People are relying on the internet because we are living in a world that connects us through internet.
It really makes our lives become much better and easier and I think that all of our hard-work in our investment will be put into wastes when internet disappears.
If there are any interferences or problems with the internet, in developed countries like USA, there seems to be no problem and services act fast whenever there are problems like this, my main concern would definitely be on third world countries, their internet connections are not the best and just like in my country wherein Internet is very slow, although if things like these tend to happen, we have our mobile data to back us up, so if we ought to do some transactions or do trading, we can rely on data, for businesses or companies, they have fast internet, but for residential areas, nope.
No matter how fast the response is, the money that gets lost is too big of a scale to even fathom. This has been a scare for generations, that our reliance with electricity will be our downfall. The issue with third world countries is that it is not the Internet is the problem, it is the ISP's problem that they have a list of selected few to service without interruption, corruption is a big problem to most third world countries, I should know because I am living in one. Imagine if all the power grids around the world was destroyed by something like a sabotage, EMP, or natural causes, Internet will be just be a fleeting memory and we will be back to stone age for at least a decade.
If there are any interferences or problems with the internet, in developed countries like USA, there seems to be no problem and services act fast whenever there are problems like this, my main concern would definitely be on third world countries, their internet connections are not the best and just like in my country wherein Internet is very slow, although if things like these tend to happen, we have our mobile data to back us up, so if we ought to do some transactions or do trading, we can rely on data, for businesses or companies, they have fast internet, but for residential areas, nope.
We all know that digital currencies and transactions will not work without internet, therefore, cryptocurrencies are relying on it.
Big companies will surely become bankrupted as there will be a recession that will occur because market activities will be stopped. Internet is the number one thing that can make the world fall apart when it gets terminated. People are relying on the internet because we are living in a world that connects us through internet.
It really makes our lives become much better and easier and I think that all of our hard-work in our investment will be put into wastes when internet disappears.
Big companies will surely become bankrupted as there will be a recession that will occur because market activities will be stopped. Internet is the number one thing that can make the world fall apart when it gets terminated. People are relying on the internet because we are living in a world that connects us through internet.
It really makes our lives become much better and easier and I think that all of our hard-work in our investment will be put into wastes when internet disappears.
I mean isn't internet decentralized? IMO it's basically millions of computer connected to each other I doubt internet can be terminated easily unless you somehow cut off the connection to network or destroy all those computers?
Even big institution that relies heavily on internet to distribute or getting the data, if the worst happen which is termination of internet worldwide, they could easily create their own network. I thought military also have their own private network so I don't think it's gonna bring an end to modern world.
Even big institution that relies heavily on internet to distribute or getting the data, if the worst happen which is termination of internet worldwide, they could easily create their own network. I thought military also have their own private network so I don't think it's gonna bring an end to modern world.
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.
If there happens a termination of internet connectivity for few days time it will cause trouble, delays and inconvenience in every transactions. In case of an EMP attack, signal jamming or any sabotage of the internet blockchain won't work on that area covered by the attack and that is the only disadvantage of it. 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.
If the internet connection gets disrupted, then all the banking services will be disrupted. Credit cards, debit cards.etc will not work. So this is not just applicable for Bitcoin. Apart from physical cash (banknotes, coins.etc), everything else will get impacted. Only way to get around it, is to create Bitcoin banknotes that are backed up with real Bitcoin (just like the Casascius physical bitcoins). Even in that case, mining may get affected. There can't be any mining activity without internet.
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.Quote
“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!
All your data will be lost, your identity information, mobile phone number, bank card, and you won’t care about Bitcoin anymore.
Nowadays, human life is inseparable from the Internet. All people in the world will work hard to avoid it.
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. 
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.
~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.
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.
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.
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. 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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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
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
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.
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.
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
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.
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.
n case something like that happens, so, yes it may be a collapse on a global scale. But it must happen something really extraordinary in order to get a situation without connection to the Internet and for some days. It may bring lots of demage for some processes, services or systems that need online Internet connection 24/7, but even in case something could happen it would be for some period of time, and after all people would do their best to cope with the consequences. In my opinion nothing bad would happen to Bitcoin in such case - the Internet would be connected again and everything would be ok.
Without electricity and internet the technology we use nowadays would be pretty much useless. It's quite stunning how fragile our society is. The good news is that we, as human race, are adaptable to very different environment conditions.
As a measure of last resort we can get back to the old barter system. Here's a cow for some grain, here's a car for a small house. lol But this is a doomsday scenario. In order for electricity to shut down at a global level it would require some kind of outter space event like a ionic shot or really big sun explosions.
As a measure of last resort we can get back to the old barter system. Here's a cow for some grain, here's a car for a small house. lol But this is a doomsday scenario. In order for electricity to shut down at a global level it would require some kind of outter space event like a ionic shot or really big sun explosions.
what will happen with the banking process if there happens a termination of internet connectivity for few days time.
With no internet there's no mail, no whatsapp, no Visa/Mastecard and also no Bitcoin.
But you were expecting this answer.
But the internet is a complicated bunch of interconnected networks. Falling the whole internet is highly unlikely, and for those affected by the failure, bad luck.
It's already rather difficult/unlikely to have a failure for more than a street or a town and in the future it will become even more unlikely.
Also big companies do use the services of multiple internet providers, if one fails the backup is used in seconds.
All in all, there's maybe a chance that your wallet will be not useful for a while, but for the whole Bitcoin to fall due to whole internet going down, no, the chance is slim.
Maybe solar explosions can do that, but then Bitcoin will be the least of our concern.
Gosh I can't even imagine what would be the impact on this, without internet connection this era cannot survive that's for sure.
Internet is something that has connected the entire world and it has became a essential part of our lives the effects of this could lose tons of money will be blocked in banks, business and entire digital connection will be collapsed like how we were in Covid-19. And obviously Cryptocurrency will end up in disaster.
Internet is something that has connected the entire world and it has became a essential part of our lives the effects of this could lose tons of money will be blocked in banks, business and entire digital connection will be collapsed like how we were in Covid-19. And obviously Cryptocurrency will end up in disaster.
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
Well Visa shut down for a couple of days last year, and that caused some difficulties. They said it was caused by tech problems following a software update, but I tink it was a test to research the effects of a shutdown during the global reset that will happen soon.
Re. the internet, There are some alternatives such as connectivity via mobile networks, and Tesla has been talking about a satellite linked system. I suspect we will have a choice of connectivity soon.
Re. the internet, There are some alternatives such as connectivity via mobile networks, and Tesla has been talking about a satellite linked system. I suspect we will have a choice of connectivity soon.
It is actually possible to happen, did you know that the internet is under the US's control and they can shut it down any time they want?
I think an admiral is the manager in charge of the internet, they can do whatever they want, whenever they want if things go bad, things will go bad for Bitcoin too, Bitcoin will not be the only thing affected by that though.
Don't know if the Starlink project is also under the control of the US government or not, if it's not, then Bitcoin could use that internet.
I think an admiral is the manager in charge of the internet, they can do whatever they want, whenever they want if things go bad, things will go bad for Bitcoin too, Bitcoin will not be the only thing affected by that though.
Don't know if the Starlink project is also under the control of the US government or not, if it's not, then Bitcoin could use that internet.
If internet terminated there is a lot of business and project will gone too like banking and bitcoin need to have internet connection to make transaction if we do not have internet we cannot send bitcoin to another wallet and also online banking does need it. Right now most of the businesses are using the internet because it is very useful to us now like doing transaction so once it's terminated many project will shutdown.
It's hard to believe if internet connection got terminated since almost people in this world using internet for chat, business, online shopping, work from home, gambling, etc.
But if it will happen, Bitcoin can't be traded and the price could be dropped significantly since there's no volume and activity about the transaction occur.
But if it will happen, Bitcoin can't be traded and the price could be dropped significantly since there's no volume and activity about the transaction occur.
By that time what will happen with the banking process if there happens a termination of internet connectivity for few days time.
What about using SMS to process the transaction? just like this thread Offline cryptocurrency transfer?
The fact that Bitcoin is dependent on an internet connection is for sure a "weak point" of it, but I really think the shutdown of the internet would pull us back hundreds of years, and by that I'm talking about barter too. Fiat would likely have no more value since people would care way more about physical, real stuff rather than paper money!
The first probable thing that'd happen in this case is civil war, since internet today is considered a large % of our freedom. We come here to do and say about anything we want.. and most people (especially kids born from 2005 on) depend on the internet every day. Remember that this would cause a HUGE fuss in the most important sectors such as the food industry! Remember that the banks would probably not work anymore since they also depend on the Internet infrastructure themselves.
After all, Bitcoin is part of the technology advancement and most risks that tech has affects Bitcoin as well.
The first probable thing that'd happen in this case is civil war, since internet today is considered a large % of our freedom. We come here to do and say about anything we want.. and most people (especially kids born from 2005 on) depend on the internet every day. Remember that this would cause a HUGE fuss in the most important sectors such as the food industry! Remember that the banks would probably not work anymore since they also depend on the Internet infrastructure themselves.
After all, Bitcoin is part of the technology advancement and most risks that tech has affects Bitcoin as well.
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.
ISP connectivity problems will be mitigated by p2p mesh networks in the future. as mesh networking technology improves and becomes more user friendly, they will become more common and will make the bitcoin network much more robust. https://bitcoinmagazine.com/articles/from-isp-to-p2p-how-mesh-networks-take-bitcoin-off-the-grid
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How mesh networks tie into Bitcoin is pretty straightforward. Currently, there is a reliance on the traditional ISP-controlled networks. Not just for Bitcoin but for most things on the internet. If a network is controlled by a central entity, it can be easily shut down or censored. A mesh network is resistant to parts of the network going offline, so peers can route their data around the parts that have gone offline. This kind of resilience is important for a system like Bitcoin because it means that transactions can keep flowing and miners can keep producing blocks. If you’re a merchant or a miner and your ISP decides to shut off your connection, you’re kind of screwed.
For using Bitcoin via mesh networks, the amount of data that needs to be transmitted could be its weakness. If you are in the Locha Mesh but you don’t have an internet connection or a satellite dish, you will need to get the latest Bitcoin block data from a peer in the mesh and the number of hops you may need to do and bandwidth will be key for you to accomplish this. If there isn’t anyone offering you this service, you would be isolated from the Bitcoin network itself.
Fortunately, the Bitcoin community doesn’t stop innovating in the network side of Bitcoin, so improvements like Erlay, FIBRE and more will make transmitting Bitcoin’s block data over the mesh achievable. You will still be able to pretty easily use your Electrum wallet within the Locha Mesh as far as you can reach an Electrum server that serves you with your wallet’s latest balance updates, or you could make offline signed bitcoin transactions, reach a push-tx gateway and then receive a message when your transaction has been added to a block.
For using Bitcoin via mesh networks, the amount of data that needs to be transmitted could be its weakness. If you are in the Locha Mesh but you don’t have an internet connection or a satellite dish, you will need to get the latest Bitcoin block data from a peer in the mesh and the number of hops you may need to do and bandwidth will be key for you to accomplish this. If there isn’t anyone offering you this service, you would be isolated from the Bitcoin network itself.
Fortunately, the Bitcoin community doesn’t stop innovating in the network side of Bitcoin, so improvements like Erlay, FIBRE and more will make transmitting Bitcoin’s block data over the mesh achievable. You will still be able to pretty easily use your Electrum wallet within the Locha Mesh as far as you can reach an Electrum server that serves you with your wallet’s latest balance updates, or you could make offline signed bitcoin transactions, reach a push-tx gateway and then receive a message when your transaction has been added to a block.
blockstream's satellite service ties into this as well:
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What the Blockstream satellite does is beam Bitcoin’s blockchain data and messages to Earth. You could use this service to get the latest transactions and blocks using a satellite dish on your rooftop and then transmit this important data to others through the Locha Mesh to allow people to transact in Bitcoin and the Lightning Network, even if they don’t have an internet connection. They just need to be inside the Locha Mesh and get the Bitcoin data from you.
These days everything depends on internet and many business will be destroyed after terminating internet connection. Not just the business but some bank works such as online payment methods,etc.. will be broken. Internet is a huge part of our lives and shutting it down won't be easy, even for a few hours. Terminating internet connection will definitely effect the bitcoin and crypto but first before bitcoin this will destroy whole economic world. As an example, I'm developer and all my income comes from the internet, after terminating internet connections I'll lose my job.
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.
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.
Almost Everything we do in todays world centres around connectivity through the internet.
Finance, communication, navigation, security, social interaction all depend on the internet.
Usually there is a minor disruption without internet for a few hours but with a few days
outage there would be a lot of disruption, everything above would be affected.
With banking specifically, well with their Fractional Reserve Banking practices they would
be in big trouble, people would need CASH for daily transactions for simply buying food
and fuel. The problem is that the banks would not have enough CASH reserves to meet
everyones requirements so they would have to close to prevent a "Run"
...so people would have no access to CASH or at best limited access to their deposits.
Finance, communication, navigation, security, social interaction all depend on the internet.
Usually there is a minor disruption without internet for a few hours but with a few days
outage there would be a lot of disruption, everything above would be affected.
With banking specifically, well with their Fractional Reserve Banking practices they would
be in big trouble, people would need CASH for daily transactions for simply buying food
and fuel. The problem is that the banks would not have enough CASH reserves to meet
everyones requirements so they would have to close to prevent a "Run"
...so people would have no access to CASH or at best limited access to their deposits.
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.
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