Topic: What will happen to the Bitcoin network if Russia blocks access to the internet? - page 5. (Read 864 times)
March 08, 2022, 07:13:43 AM
If Russia blocks its internet then the people who are in the country will not have access to their crypto assets but coins will remain as is provided no other person has access to these guys private keys. But why would th these guys want to go this route... Are they avoiding to hear what the world has to say about their trespass??
March 08, 2022, 07:04:19 AM
If there is no communication whatsoever between Russia and the rest of the world (highly unlikely), then the network will fork. The main chain the rest of the world follows will lose the Russian hashrate, resulting in longer block times for a maximum of two weeks until the next difficulty retarget. After that, things would continue as normal. The Russian miners would either stop mining altogether or continue to mine on their own minority chain. Once internet communication is reestablished, then either the minority chain would simply be abandoned in favor of the main chain from the rest of the world, or the minority chain would continue as yet another fork of bitcoin.
What is far more likely is that there would still be a handful of nodes which could still communicate to both sides of the divide, and so the whole network would stay in sync. Users in Russia might see more frequent stale blocks and stale chains if it takes them significantly longer to remain synced with the rest of the network.
What is far more likely is that there would still be a handful of nodes which could still communicate to both sides of the divide, and so the whole network would stay in sync. Users in Russia might see more frequent stale blocks and stale chains if it takes them significantly longer to remain synced with the rest of the network.
March 08, 2022, 06:49:27 AM
If Russia blocks the external internet, mining will become impossible in this country. But I know that already now many people involved in cryptocurrency and mining are leaving the country. So if there is a shutdown, by that time the main powers will have already moved to neighbouring countries like Kazakhstan or Georgia. In the last week alone, about 30k people have left for Georgia, mostly from the it sector.
March 08, 2022, 06:42:51 AM
Russia is considering shutting down the internet connection to the rest of the globe. What will occur? Is the hash rate decreasing? What will happen if the connection is re-established in a few years?
Is Russia the country supplying internet to the world? No. Russia depends on the world than the world depends on Russia. Without Russia, bitcoin will existing, even if the whole of Russia ban bitcoin just like China, bitcoin will still be existing. I do not know what could be worse than when China banned bitcoin but yet bitcoin adoption continues. March 08, 2022, 06:22:29 AM
Russia is considering shutting down the internet connection to the rest of the globe. What will occur? Is the hash rate decreasing? What will happen if the connection is re-established in a few years?
All these are part of the effect of the SWIFT ban place on Russia and the whole economy there is downsizing and even users of centralized crypto exchanges account are experiencing ban as about 25000 coinbase user accounts were placed on ban, all international connections Russia has build in the past were been nullified, Russia war given a sound and clear warning before looming into fight against Ukraine. The thing is that those suffering it are the masses who has nothing to do with war, all their businesses have been affected and halted, with or without Russia cryptocurrency still move on steadily just that the innocent citizens who are into crypto will bear the cost after being affected.
March 08, 2022, 06:15:47 AM
2% of nodes/ maybe 20% of miners..(if a russian internet ban includes kazahkstan)
that is all..
that is all..
March 08, 2022, 06:02:33 AM
Russia is considering shutting down the internet connection to the rest of the globe. What will occur? Is the hash rate decreasing? What will happen if the connection is re-established in a few years?
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