What happens to the Bitcoin Network if a World war Starts? - page 4.

Senor.Bla

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Quote from: Blawpaw on February 19, 2017, 01:16:11 PM

I'm starting to get very worried about the state of international relations. Trump is a potential threat to world peace, and growing tensions with China and other countries are becoming a real threat.

So, if a World war starts, there are all sorts of scenarios we can consider, but what do you guys think it could happen to Bitcoin?

Interesting one. I think it would be either the end or the break thru of Bitcoin. You would need to keep the network up and running and this with a reduced hash power i would assume. Also decentralization would be a big thing and also enough people who still had an interest in Bitcoin. If you could not manage this then Bitcoin could plummet to very low numbers, but if you manage, then it might become the leading currency.

nara1892

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when it is war, I think people who face it do not think much about money, but they think how to survive and escape from that war. probably money can save them by living in the other country. however, people are panic, and probably will panic sell in order to buy sonething or to move to the other country, so the price would increase. but I think it will not affect much on bitcoin network.

andreibi

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Bitcoin will be harder to send but more of a hassle, but definitely the price will skyrocket.

Bitcoin will thrive in internet sanctuaries.

calkob

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Quote from: Blawpaw on February 19, 2017, 01:16:11 PM

I'm starting to get very worried about the state of international relations. Trump is a potential threat to world peace, and growing tensions with China and other countries are becoming a real threat.

So, if a World war starts, there are all sorts of scenarios we can consider, but what do you guys think it could happen to Bitcoin?

Well i reckon that bitcoin will def survive, even in world wars there is always some countries that are untouched by war ie:Iceland (some mining will continue). I reckon that if WWIII happens, china will be on the receiving end of a few nukes so we might see the Hashrate drop a little along with the diff after a few days. But bitcoin like the cockroaches will survive. Grin

Yakamoto

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Entertainingly there will be two ways the war can come about, be performed, and the end result.

Right now the lines are being drawn so that a lot of nationalist nations are matched up against globalist nations. A lot of thought experiments go into this, but in the event of a third world war it would likely start through China and the US. Europe would no longer be out to immediately join NATO/the west, and it would be a lot more of a political game. So the two ways it starts are nationalism vs globalism or china vs the us.

Ways the war goes: blitz war destroying China's economic capacity and destabilizing the citizenship, resulting in a de facto win for the US, or a war of attrition which may result in the chinese being victories after numerous amounts of casualties.

End results: US maintains world hegemony and china loses a lot of their international power, or the US is overthrown and we get multiple world powers as opposed to superpowers.

That's just what it looks like right now, it can change very rapidly.

mrkevio

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We most likely won't have access to electricity and Internet. I don't think the companies will continue working for us Cheesy

we also won't have cellular signal, nothing. So Bitcoin could be worthless until the Internet is back... I think the price would rise (>100x) substantially and those who could still use it would be able to survive..

the rise

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Quote from: Blawpaw on February 19, 2017, 01:16:11 PM

I'm starting to get very worried about the state of international relations. Trump is a potential threat to world peace, and growing tensions with China and other countries are becoming a real threat.

So, if a World war starts, there are all sorts of scenarios we can consider, but what do you guys think it could happen to Bitcoin?

I've been thinking about it for a long time, when the third world war happens, all Internet access to be very chaotic, including third world countries, we lose bitcoin acces, there is even a possibility for hacked by intelligence. Positive situation: if America is defeated in a war, or there are no winners in war, bitcoin would be a deal solution to be center of world currency (neutral currency)

During the war, it's clear we will lose total access to our bitcoin account. And there's no guarantee we'll still have accounts after war ended.

Quote from: yellow1 on February 19, 2017, 02:12:11 PM

Nothing will happen I believe. Because even if there's a war, not all country will be affected by it. Remember the 2nd World War, some countries are neutral so nothing happens to them. So I believe bitcoin will still exist even there's a WW3.

The second world war, you feel it? This is not about American invasion of Syria or Iraq. world war is a time where countries compete for allies, and all countries feel the effects of an unstable situation. Neutral countries will also be affected, financial state becomes unstable due to foreign exchange market is not functioning at all.

coolcoinz

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Quote from: knircky on February 19, 2017, 01:35:23 PM

Quote from: Blawpaw on February 19, 2017, 01:16:11 PM

I'm starting to get very worried about the state of international relations. Trump is a potential threat to world peace, and growing tensions with China and other countries are becoming a real threat.

So, if a World war starts, there are all sorts of scenarios we can consider, but what do you guys think it could happen to Bitcoin?

Nothing. Bitcoin don't care.

Honey badger approves!
If a world war start it's possible we won't have running water, medicine, internet access and many other things. You won't have time to think about Bitcoin, but it doesn't mean it won't survive. When we go back to peace people will remind themselves about investments.

Sled

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I think not only the bitcoin but all of the kind of stocks, currencies will be on its maximum dump price because that is world war and a lot of countries will fight to each other and it will affect the whole market world a lot and also be the cause for the investors whether it is big or small to cash out and sell their shares to avoid getting negative profits.

st0nefish

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Electricity and the Internet will protect the presence of bitcoin as long as it is. I do not think all countries will join in this if there is a world war.
If China goes into world war, the price of bitcoin will decrease. People will want to panic and sell bitcoins.

But I do not think it will be a world war from scratch.

sakinaka

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For Bitcoin network to work properly we need two conditions : miners and nodes.

There is two degrees of war :

Electricity and internet are cut : In that way we would head toward several forks and Bitcoin would be pretty doomed if we never agree after the end of the war what chain is the best one. The best in this case would be that everyone agrees about stopping running the nodes and the mining pools, so that we can all get back to the same point.

They are not : However, the most reasonable option will be that none of these things will be cut, as we would need a reallt big war for this to be cut. In case they are not the things would simply work a bit slowly, since there would probably have electricity cuts at night so that the houses do not get spotted in air bombings. So we would get periodically the pools to go offline, depending on their timezones. Hopefully, they would not all go offline at the same time.

But do not worry, a World War is far from happening !

yellow1

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Nothing will happen I believe. Because even if there's a war, not all country will be affected by it. Remember the 2nd World War, some countries are neutral so nothing happens to them. So I believe bitcoin will still exist even there's a WW3.

mobnepal

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If even one bitcoin node can remain attached to internet than bitcoin network will keep working (may need few miners too). And i am sure even in the case of world war there are lots of country which will not involve in this and there will be few nodes and miners from those country too which will keep supporting bitcoin. So i don't think we have to worry about world war. Wink

franky1

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if your worry is a nuclear bomb causing an EMP in your location.. chances are the radiation is going to burn your skin and kill you before you get to buy a new car/house with your bitcoin.

knircky

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Quote from: Blawpaw on February 19, 2017, 01:16:11 PM

I'm starting to get very worried about the state of international relations. Trump is a potential threat to world peace, and growing tensions with China and other countries are becoming a real threat.

So, if a World war starts, there are all sorts of scenarios we can consider, but what do you guys think it could happen to Bitcoin?

Nothing. Bitcoin don't care.

d5000

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Well, for a complete Bitcoin outage there must be a complete outage of electricity and communications in large parts of the world. That would require an extreme form of world war - much more heavy than WW2. It's realistic in a nuclear war, and then we're doomed anyway Tongue

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But for massive conflicts the best option to make Bitcoin survive are mesh networks of Wi-Fi routers that replace the current internet service providers (as nearly everyone in industrialized countries own a wi-fi router or an Android phone they can be organized quite quickly).

And for electricity, solar or wind energy for Bitcoin users. There are countries like Germany where already a high proportion of houses have photovoltaic panels, so that's not an unrealistic option.

Blawpaw

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I'm starting to get very worried about the state of international relations. Trump is a potential threat to world peace, and growing tensions with China and other countries are becoming a real threat.

So, if a World war starts, there are all sorts of scenarios we can consider, but what do you guys think it could happen to Bitcoin?

Topic: What happens to the Bitcoin Network if a World war Starts? - page 4. (Read 4031 times)