What happens to the internet (and Bitcoin) if world economy fails?

harrymmmm

hero member

Activity: 576

Merit: 503

Quote from: eternalgloom on August 05, 2015, 12:58:56 PM

Quote from: ProfessionalGoogler on August 05, 2015, 12:02:13 PM

Everyone keeps saying we are going to crash.. The USD is doomed.. etc.

..and then what happens to Bitcoin? Without internet.. no Bitcoin..

I feel as if chaos would unleash in this sort of event, causing internet outages around the globe. (how do you even pay your internet bill if this were to happen?)

I don't see why the internet would be gone if the USD crashes.

The article you added was pretty interesting though, I do think it would be better in the long run to switch to mesh networks.

Zakly.
Bitcoin transactions can be sent on paper, by morse code, even by carrier pigeons. As long as one miner is alive, bitcoin survives. The most likely disaster resulting from global economic meltdown is war, internet becomes difficult, bitcoin survives anyway.

ashour

sr. member

Activity: 490

Merit: 250

Bitcoin isn't depended on USA and USD isn't depended on BTC. It does't really matter if USD crashes, bitcoin will be working as always.

Mickeyb

hero member

Activity: 798

Merit: 1000

Move On !!!!!!

Well if economies and currencies do fall down why would Internet and with it Bitcoin go down? I mean except if the 3rd world war happens with the nuclear weapons use, but then we won't care about the Internet or Bitcoin since we will all be dead.
So honestly, I see no problem!

manselr

legendary

Activity: 868

Merit: 1004

As far as I know nations have defaulted before including USA, it shouldn't be the end of the world, now im not sure what would happen in the modern times. Since 1971's "Nixon Shock" when the USA abandoned the international gold standard I have already assumed that the dollar HAS to collapse eventually, when? nobody knows, it could be in 10 years or it could be in 100.

bitcoinmasterlord

legendary

Activity: 1148

Merit: 1006

If world economy would crash then most probably we still would have internet. But Bitcoin would get very strong because people would prefer trusting such a currency than the currency of the governments.

That monetary problems are good for bitcoin were shown already with cyprus and greece.

ProfessionalGoogler

hero member

Activity: 532

Merit: 500

Quote from: wallywattz on August 05, 2015, 12:17:59 PM

I don't think the Internet is going down due to an economic downturn.

But...you should check out MaidSafe. They are building what you're talking about, a decentralized internet.

Still needs ISPs to even use.. Useless until you can cut them out completely.

eternalgloom

legendary

Activity: 1792

Merit: 1283

Quote from: ProfessionalGoogler on August 05, 2015, 12:02:13 PM

Everyone keeps saying we are going to crash.. The USD is doomed.. etc.

..and then what happens to Bitcoin? Without internet.. no Bitcoin..

I feel as if chaos would unleash in this sort of event, causing internet outages around the globe. (how do you even pay your internet bill if this were to happen?)

I don't see why the internet would be gone if the USD crashes.

The article you added was pretty interesting though, I do think it would be better in the long run to switch to mesh networks.

thebenjamincode

hero member

Activity: 490

Merit: 500

37iGtdUJc2xXTDkw5TQZJQX1Wb98gSLYVP

Quote from: wallywattz on August 05, 2015, 12:17:59 PM

I don't think the Internet is going down due to an economic downturn.

But...you should check out MaidSafe. They are building what you're talking about, a decentralized internet.

i somehow don't fully understand the idea of maidsafe
i think its a lot better if they just offered free internet to everyone rather than making a decentralized one

wallywattz

newbie

Activity: 8

Merit: 0

I don't think the Internet is going down due to an economic downturn.

But...you should check out MaidSafe. They are building what you're talking about, a decentralized internet.

ProfessionalGoogler

hero member

Activity: 532

Merit: 500

Everyone keeps saying we are going to crash.. The USD is doomed.. etc.

..and then what happens to Bitcoin? Without internet.. no Bitcoin..

I feel as if chaos would unleash in this sort of event, causing internet outages around the globe. (how do you even pay your internet bill if this were to happen?)

I think we need to invent a new internet, that doesn't rely on ISPs but just mass amounts of wireless computers linked together creating a 100% actually free internet. Regulators are already gripping down more and more everyday... And I'm sure you have all heard of the net-neutrality issue.

Maybe we are too early to think about this type of technology, but just imagine it....

Similar to this idea? But perfected.. -- http://www.theatlantic.com/technology/archive/2014/06/the-promise-of-an-alternative-internet/372501/

Topic: What happens to the internet (and Bitcoin) if world economy fails? (Read 622 times)