When Crypto has replaced Fiat, but then the internet is shutdown!!!

[littledi059 1010]

I don't think people will ever build such a system which can be destroyed so easily, it is too risky. And fiat won't be destroyed by crypto, they will both exist I suppose. That would be the best way 

[CryptoMaxim 3829]

On 26.11.2019 at 18:01, faceless said:

I was thinking, what if Bitcoin and other altcoins has replaced fiat money and fiat has gone extinct. Then in few years the internet is shutdown, that means no transactions no food, maybe people will go back to barter trade but then some will suffer as they will have nothing to offer.

 

What exactly do you think will happen then.

Cryptocurrencies will not be able to replace the fiat. How is it possible if the price of cryptocurrency depends on fiat. The entire capitalization of bitcoin is fiat money

[SyntaxEr. 709]

8 hours ago, duncun007 said:

well ever since online payment came to existence the general people started asking this important question what will happen if the internet got shut down worldwide? and that would be a problem to bitcoin because you can take your money out of banks but cant take it out of bitcoin.

But i think it is really useless to ask this nonsense question because we can't go back to the old generation especially now people become smarter day by day.

[Snail2 3]

Then everybody will use the old "currencies" like gold, sex and weapons. Actually after WW2 in Europe the situation was somewhat similar. Almost all means of communication and transportation was broken, supply chain didn't work and official currencies were worthless. Still people found ways to get food, medications, clothes and whatever else they needed by bartering their stuff or using gold jewellery as currency (e.g. one gold chain link = one potato). Others found other ways to do their shopping. Humans are innovative and highly adaptable. 

 

BTW such a complete breakdown of the internet is nearly impossible. WW3 or a series really huge solar flares what keep hitting Earth can cause such a breakdown but in such scenarios money will be our least concern.

[Badhon420 126]

For that matter, plenty of people may well suffer from therefore condition. It is recommended to produce a large amount of necessity to our so they accelerate for the world wide web and therefore the Word wide web cannot eliminate. Afterward, most people will be able to turn into fascinated with art.

[Benjamin 84]

Lol this is post is just a useless, no one can shutdown the internet and also in terms of crypto, it will not replaced to fiat currency in fact it will be used together soon, all people hope that this crypto and fiat will used in the future because thjs two are profitable and also it can be adopted the crypto by the people like they are using fiat in their daily life activities.

[Emma 611]

If internet is shutdown, no nation will be able to do their single days. Obviosly all nation will make the internet more powerful before making crypto fiat.

[Rosepetals 407]

Well it's a big problem of course because we cant able to access our wallet if that would happens.But as long internet existed,the technology upgrading will continue because people had also upgraded their knowledge as times passes by.Theres always a room for improvements and as we can see Bitcoin was a product of high technology advancement and the advantages that we experienced right now.

[palalu 512]

I have never even thought about this before. because if this really happens I think it's very bad for all

[Badhon420 126]

The fact is, most people might put up with for that reason challenge. You must present loads of benefits to that so the quickness of your online, as well as Online, would not prevent. In that case people today may easily develop into serious about the repair.

[akmal1984 103]

On 11/26/2019 at 9:01 PM, faceless said:

I was thinking, what if Bitcoin and other altcoins has replaced fiat money and fiat has gone extinct. Then in few years the internet is shutdown, that means no transactions no food, maybe people will go back to barter trade but then some will suffer as they will have nothing to offer.

 

What exactly do you think will happen then.

I think what happened is that we go back to a long time ago in terms of transactions. Where we will use goods to pay to get other items. Gold will again become the main medium of exchange for sure ... If that happens it means that all people who lived at that time will look for a solution all over the world. Certainly the system will change completely later

[Gusion 321]

Yes so that I can see that there are a lot of disadvantages of it compare to its advantages. It is risky for us to put our money in a digital way without having a 100% guaranteed that we won't lose connection to it.

[duncun007 3577]

7 hours ago, SyntaxEr. said:

But i think it is really useless to ask this nonsense question because we can't go back to the old generation especially now people become smarter day by day.

i think its less about old or new generation and more about a real question of what if the power goes off from the whole world and we lose connection to the internet for any reason possible...what then?

[positive 97]

On 11/26/2019 at 3:01 PM, faceless said:

I was thinking, what if Bitcoin and other altcoins has replaced fiat money and fiat has gone extinct. Then in few years the internet is shutdown, that means no transactions no food, maybe people will go back to barter trade but then some will suffer as they will have nothing to offer.

 

What exactly do you think will happen then.

People will definitely go back to trade by barter but i don't see such thing because you totally misunderstood the concept and the reason why bitcoin was implemented cause crypto currency was an alternative not to take over fiat.

[aqua 773]

Then we cannot use crypto for the transaction, and maybe at that time, we will use a barter system like what we did in the old times. We will not have the ability to use any digital payment, or we cannot make a transaction, but I am sure that we will find a way to make a transaction. But I don't think that the internet will be shut down because if that happens, we will see a big demonstration that occurs in all countries. The government for each country will make sure the internet still operates and serves what people need so that the internet will be like this, and even it will grow more than now.

[Crypto123 0]

You dreamer, why the Internet will be closed, then if we assume that your words will happen and the Internet is closed, people will not die of hunger will be gold and will be dealt with again, and even if there is no gold people will not be able to find money other than Fiat and cryptocurrencies, Necessity is the mother of invention.

[SyntaxEr. 709]

11 hours ago, duncun007 said:

i think its less about old or new generation and more about a real question of what if the power goes off from the whole world and we lose connection to the internet for any reason possible...what then?

Like what i said it is not possible because people today are more smarter than the past generation even you shutdown the internet and power they will just keep inventing it because they are smart. The proper question should be what if the people go extinct and new generation of people born what will happen to crypto world?

[febriyana 934]

I think hard to think cryptocurrency replace fiat. Because cryptocurrency now is still based fiat. If crypto replace fiat, so how to calculate the price, also every transaction need 1 confirmation and taking fees! The big problem, yes it is need internet to pay, that is not comfortable. 

But anything can happen in the future, also fiat can not trusted again, for example in Venezuela, they don't believe their currency. Trust in fiat can decreased because inflation going up too high. So i think no any currency is safe. 

[duncun007 3577]

15 hours ago, SyntaxEr. said:

Like what i said it is not possible because people today are more smarter than the past generation even you shutdown the internet and power they will just keep inventing it because they are smart. The proper question should be what if the people go extinct and new generation of people born what will happen to crypto world?

so to you the probability of humanity to extinct is higher in chances to happen than a internet shutdown worldwide? oh man you have some very dark point of view....

[SyntaxEr. 709]

10 hours ago, duncun007 said:

so to you the probability of humanity to extinct is higher in chances to happen than a internet shutdown worldwide? oh man you have some very dark point of view....

Haha you really don't get my point. I said even the internet was shut down worldwide people today are smart enough to invent the internet again. 

[Badhon420 126]

Fiat foreign money is, in fact, the common community foreign money? Nonetheless, have you considered without the need for them? As it happens to receive food items, most people need to deliver the results. It is really fairly illogical, the fact is most people settle for age-old instances when people today previously worked to have food items perfectly, very

[duncun007 3577]

13 hours ago, SyntaxEr. said:

Haha you really don't get my point. I said even the internet was shut down worldwide people today are smart enough to invent the internet again. 

no i get you but the matter is not about inventing the internet again its more about if the internet is shutdown it will take time to invent the replacement for it and throughout this time bitcoin will be untouched so you technically cant buy or sell for a while which will render bitcoin pointless.

[SyntaxEr. 709]

3 hours ago, duncun007 said:

no i get you but the matter is not about inventing the internet again its more about if the internet is shutdown it will take time to invent the replacement for it and throughout this time bitcoin will be untouched so you technically can't buy or sell for a while which will render bitcoin pointless.

Bitcoin can be worthless for a couple of days but once the invented again the bitcoin transaction will resume it is like they experienced maintenance for pausing the transaction on bitcoin so the value of it will remain the same.

[duncun007 3577]

22 hours ago, SyntaxEr. said:

Bitcoin can be worthless for a couple of days but once the invented again the bitcoin transaction will resume it is like they experienced maintenance for pausing the transaction on bitcoin so the value of it will remain the same.

well it might not seem like a problem to you because you might be trading with small amounts but some people out there are trading with millions and imagine being cut of your money for weeks like that.

[SyntaxEr. 709]

9 hours ago, duncun007 said:

well it might not seem like a problem to you because you might be trading with small amounts but some people out there are trading with millions and imagine being cut of your money for weeks like that.

Nope that is not a problem for them too because like what you said total internet shutdown means no one can access their bitcoin so the price and market movement will not change the time when internet was shutdown.