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What happens to bitcoin when they turn the internet off?

 
Anonymous Coward
User ID: 73309519
United States
01/27/2021 07:56 AM
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What happens to bitcoin when they turn the internet off?
I guess turning the internet off means disconnecting the fiber optic routers?

So in that case, how does the government communicate with itself? Military?

Will local phones work?

I’m guessing that bitcoin holds its value but is useless until the internet comes back on line.
hiding
NervousAndJerky

User ID: 77985260
United States
01/27/2021 08:01 AM

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Re: What happens to bitcoin when they turn the internet off?
SELL SELL SELL, oops. To late.
Perspective is everything.

[link to www.youtube.com (secure)]
Anonymous Coward
User ID: 79934078
United States
01/27/2021 08:05 AM
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Re: What happens to bitcoin when they turn the internet off?
I guess turning the internet off means disconnecting the fiber optic routers?

So in that case, how does the government communicate with itself? Military?

Will local phones work?

I’m guessing that bitcoin holds its value but is useless until the internet comes back on line.
hiding
 Quoting: Anonymous Coward 73309519


what happens to your ability to buy gas is a good question to ask.
Anonymous Coward
User ID: 51210876
United Kingdom
01/27/2021 08:12 AM
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Re: What happens to bitcoin when they turn the internet off?
they lay dormant until the internet gets replaced eg starlink or it gets switched back on.

if the internet did get switched off.

there would be whole arrays of private WLAN setup everywhere.

everybody has the tech already at home.
Greyzone

User ID: 32783471
Canada
01/27/2021 08:16 AM
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Re: What happens to bitcoin when they turn the internet off?
Bill Gates, Jeff Bezos will not let it go down.

No amazon means that the gov will have to let small businesses operate again. They just cannot have that.
Greyzone
Texan
Libs are Liars...Woof!

User ID: 79675766
United States
01/27/2021 08:46 AM

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Re: What happens to bitcoin when they turn the internet off?
Same thing as your money in your bank account and 401k
MaybeTrollingUAgain

User ID: 79954619
Brazil
01/27/2021 08:49 AM
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Re: What happens to bitcoin when they turn the internet off?
I guess turning the internet off means disconnecting the fiber optic routers?

So in that case, how does the government communicate with itself? Military?

Will local phones work?

I’m guessing that bitcoin holds its value but is useless until the internet comes back on line.
hiding
 Quoting: Anonymous Coward 73309519


I'm assuming, just by the way you formulate your question that you're layman in the subject. So, let me put you up to speed:
Yes, a good portion of the internet works via cables. Does that mean there is no other way? Nope. It can work even with a HAM radio. Actually there are many networks of it, a "second internet" if you will. Its not technically easy for a single person to do, not cheap, but totally possible.
For the big corps, they can use even radio signal for it. Again, slower and more prone to loss of packages but works as a back up. Even satellites can be used for it(flat earthers go wild here).

So no, bitcoin doesn't need to stop if internet for domestic public goes down. But for sure a good chunk of people won't be able to sell or buy their thingies.
MaybeTrollingUAgain
Anonymous Coward
User ID: 79195654
United States
01/27/2021 08:57 AM
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Re: What happens to bitcoin when they turn the internet off?
We should all question the judgment of anyone who believes the internet can be "shut off"

The assumption that such a thing could be done showcases ones lack of critical thinking and judgment skills.
Anonymous Coward
User ID: 77893697
United States
01/27/2021 09:00 AM
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Re: What happens to bitcoin when they turn the internet off?
same thing to your debit and credit cards clown
Anonymous Coward
User ID: 79907556
Australia
01/27/2021 09:06 AM
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Re: What happens to bitcoin when they turn the internet off?
they lay dormant until the internet gets replaced eg starlink or it gets switched back on.

if the internet did get switched off.

there would be whole arrays of private WLAN setup everywhere.

everybody has the tech already at home.
 Quoting: Anonymous Coward 51210876


Somewhere there is a pseudo standard LAN ip configuration set (dhcp etc) to set up your guest router to enable that.
Anonymous Coward
User ID: 79984191
Australia
01/27/2021 09:08 AM
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Re: What happens to bitcoin when they turn the internet off?
I guess turning the internet off means disconnecting the fiber optic routers?

So in that case, how does the government communicate with itself? Military?

Will local phones work?

I’m guessing that bitcoin holds its value but is useless until the internet comes back on line.
hiding
 Quoting: Anonymous Coward 73309519


What happens when an asteroid hits the Earth.


What happens when you get hit by a car.

Everyday that you live your life with the expectation that the floor will be there when you get out of bed.

You expect your heart to pump your blood throughout the day.

If everything crashes and burns. You lose.
That's it.

No need for hyperbolic and hypothetical rhetorical questions. if all the electricity is off on the entire globe and the internet *never* comes back on yes you keep your Bitcoin but it's unusable.

It's a pretty stupid thread.

What happens when my penis falls off?

cruise
Anonymous Coward
User ID: 75076924
United States
01/27/2021 09:14 AM
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Re: What happens to bitcoin when they turn the internet off?
:itsgone:
Anonymous Coward
User ID: 79975335
United States
01/27/2021 09:16 AM
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Re: What happens to bitcoin when they turn the internet off?
I guess turning the internet off means disconnecting the fiber optic routers?

So in that case, how does the government communicate with itself? Military?

Will local phones work?

I’m guessing that bitcoin holds its value but is useless until the internet comes back on line.
hiding
 Quoting: Anonymous Coward 73309519


You're broke!
Anonymous Coward
User ID: 71388910
United States
01/27/2021 09:17 AM
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Re: What happens to bitcoin when they turn the internet off?
I guess turning the internet off means disconnecting the fiber optic routers?

So in that case, how does the government communicate with itself? Military?

Will local phones work?

I’m guessing that bitcoin holds its value but is useless until the internet comes back on line.
hiding
 Quoting: Anonymous Coward 73309519


We then use silver we have been stock piling slowly for such an event along with dollars if we are still using them at that time.
Anonymous Coward
User ID: 76909969
United States
01/27/2021 09:30 AM
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Re: What happens to bitcoin when they turn the internet off?
No bitcoin fanboy here but I see this said all the time ... what happens to Bitcoin if....

Well, if they shut the internet (or power)off ... the same as ATM access, credit card access, bank account access, EBT payments, the stock market, services such as Western Union, etc ...

You can have 1,000,000 in the bank but in a short time you will be dumpster diving with the bitcoin guy, unable to access your funds.

Even if you have cash on hand, in any scenario that lasts more than a short time people will stop accepting cash for goods. Who is going to give you their food for a potentially worthless piece of paper? You may make out better for a little while longer with precious metals, but even those may lose buying power ... or become nearly worthless. Oh, you want to buy some food and before the crash silver was $20 an ounce? Well, now I want 10 oz. silver for a can of tuna or you can f-off and starve.

The world runs on the internet now, shutting it off will screw everybody, not just the crypto guys.
Anonymous Coward
User ID: 69987025
United States
01/27/2021 09:44 AM
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Re: What happens to bitcoin when they turn the internet off?
I guess turning the internet off means disconnecting the fiber optic routers?

So in that case, how does the government communicate with itself? Military?

Will local phones work?

I’m guessing that bitcoin holds its value but is useless until the internet comes back on line.
hiding
 Quoting: Anonymous Coward 73309519


what happens to your ability to buy gas is a good question to ask.
 Quoting: ALL IS ONE IS ALL


This is why i bought a compressed air car
Anonymous Coward (OP)
User ID: 73309519
United States
01/27/2021 10:26 AM
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Re: What happens to bitcoin when they turn the internet off?
Feeling anxious. Sorry for the stupid question. Thanks for the replies. GLP is great. Ty.
Anonymous Coward
User ID: 75927409
United States
01/27/2021 10:39 AM
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Re: What happens to bitcoin when they turn the internet off?
I guess turning the internet off means disconnecting the fiber optic routers?

So in that case, how does the government communicate with itself? Military?

Will local phones work?

I’m guessing that bitcoin holds its value but is useless until the internet comes back on line.
hiding
 Quoting: Anonymous Coward 73309519


All your Bitcoin belong to Kim un
Anonymous Coward
User ID: 75927409
United States
01/27/2021 10:40 AM
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Re: What happens to bitcoin when they turn the internet off?
I guess turning the internet off means disconnecting the fiber optic routers?

So in that case, how does the government communicate with itself? Military?

Will local phones work?

I’m guessing that bitcoin holds its value but is useless until the internet comes back on line.
hiding
 Quoting: Anonymous Coward 73309519


What happens when an asteroid hits the Earth.


What happens when you get hit by a car.

Everyday that you live your life with the expectation that the floor will be there when you get out of bed.

You expect your heart to pump your blood throughout the day.

If everything crashes and burns. You lose.
That's it.

No need for hyperbolic and hypothetical rhetorical questions. if all the electricity is off on the entire globe and the internet *never* comes back on yes you keep your Bitcoin but it's unusable.

It's a pretty stupid thread.

What happens when my penis falls off?

cruise
 Quoting: Anonymous Coward 79984191


I am concerned, how is my penis going to fall off?





GLP