Re: What if the internet permanently shuts down
If this happened, this world would definitely become a bit chaotic. Because currently almost everyone in the world is dependent on the internet. Because in this increasingly advanced era, the internet has become an alternative for many people in various areas of life, for example for selling, studying, communicating, investing, and also for entertainment. So you could say that the internet has become a very important thing for most people and perhaps it could be said to be a necessity too. So if the internet completely shuts down, maybe the world will experience a slight setback in various aspects.
I'll focus on finance, so I'm thinking what will happen to the bitcoin inside wallets, what will happen to every fiat currency in bank accounts, if everything erases as a result of internet total breakdown? Who do we hold responsible?
~Snip
Bitcoins that have been stored in the wallet will definitely remain in the wallet and will not go anywhere when the internet goes down. However, the problem is that bitcoin seems to be frozen and cannot be moved anywhere and cannot be used (bought and sold). So it could be said that Bitcoin becomes a frozen asset and its price disappears when the internet goes down. Likewise with the existing banking system, if all data is stored on the internet network, then it is certain that all data will not be accessible when the internet is down. And if this happens, everyone will definitely come to the party concerned. For example, people who have savings in the bank will definitely ask for their money to be returned to the bank. But even so, it definitely won't be that easy. The reason is that the bank is also confused because its customer data has been completely lost. So basically the world will be in chaos if the internet goes down.
I'd love to be enlightened better on why it can be impossible that the internet can never be permanently shutdown, having in mind the shortcomings that I've mentioned?
Actually, no one knows for sure about this. Because no human can see the future. But in my personal opinion, the internet will definitely still exist if electricity remains available. The reason that really supports the existence of the internet is electrical energy. So, for example, if the electricity goes out, the internet will also automatically turn off. But if for example there is still electricity, in my personal opinion the internet will definitely continue to exist and will not die.