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Title: What will happen to Bitcoin if the government decides to cut us off the Internet Post by: fp on June 25, 2014, 10:45:34 AM Although highly unlikely, there are countries that do this already (eg. North Korea). Suppose India decides to do the same and implement only an Intranet for the citizens, what would happen to the blockchain? Since we already have a copy of the blockchain before they shut off the internet, will be be using bitcoins with 0 confirmations since all the mining pools are outside India? Or will the blockchain get split? What would happen if they turn the internet on again after that?
Since we have only a handful of ISPs here, isn't it also easy for them to carry out Sybil attacks on the peers and disrupt the network? Title: Re: What will happen to Bitcoin if the government decides to cut us off the Internet Post by: Benson Samuel on June 25, 2014, 12:21:59 PM Although highly unlikely, there are countries that do this already (eg. North Korea). Suppose India decides to do the same and implement only an Intranet for the citizens, what would happen to the blockchain? Since we already have a copy of the blockchain before they shut off the internet, will be be using bitcoins with 0 confirmations since all the mining pools are outside India? Or will the blockchain get split? What would happen if they turn the internet on again after that? Since we have only a handful of ISPs here, isn't it also easy for them to carry out Sybil attacks on the peers and disrupt the network? BBS, Radio, Mesh, etc.. Doing something like that will only increase the research and implementation on alternatives. Title: Re: What will happen to Bitcoin if the government decides to cut us off the Internet Post by: subvolatil on June 25, 2014, 12:35:45 PM Mesh net rocks .
Title: Re: What will happen to Bitcoin if the government decides to cut us off the Internet Post by: Equate on June 25, 2014, 02:26:34 PM This is highly unlikely unless some other major countries adopt such measures and if if that happens , there are still many ways to bypass it ;)
Title: Re: What will happen to Bitcoin if the government decides to cut us off the Internet Post by: Benson Samuel on June 25, 2014, 06:19:26 PM Deploying a sat costs approx 2 mil. Am sure that there would be enough initiative to do this if an attack occurs.
But there would be a crazy period of darkness before this can get to its feet. Title: Re: What will happen to Bitcoin if the government decides to cut us off the Internet Post by: ravin on June 29, 2014, 10:50:26 AM Bitcoin asics are getting developed at 20nm formfactors and less. That's equivalent to 2 decades of INTEL/AMD research done in a year! Moors Law (http://en.wikipedia.org/wiki/Moore's_law) has an existential crisis right now.
So, anything that's a hindrance to bitcoin proliferation will be pushed away by the community. |