What will happen to bitcoin price if Solar superstorm 'wipe out the internet'?

[synchronym]

Day by day every country in the world is progressing towards development. This means that internet usage will not be stopped in any country. Because people are moving forward now through the internet. Bitcoin is not possible to work without internet. If the internet ever goes down. The work of Bitcoin will be stopped for the time being. No other country's government will want the internet to be shut down because if the internet is shut down then every country in the world will have economic problems. I think the internet will never shut down forever Maybe the server may experience some problems temporarily.

[ZAINmalik75]

While browsing through social media, I came across an article that mentioned Solar superstorms could 'wipe out the internet' for weeks or months, scientist says. Will the loss of internet connectivity for weeks or months affect the value of cryptocurrencies such as Bitcoin? What will be the outcome?

Thanks for sharing this news, because I was not aware of this incident that took place before, but Artice did not mention what happened back then. I think there was no internet back in time, maybe that's why. But this whole thing of outages of electricity is a real threat to the whole country. Because, other than BTC or mining, almost every sector depends on the internet, and if the internet is gone, then every aspect of life will be disturbed.

If the internet is out for a temporary period, then the BTC price will remain where it is now because its price totally depends on demand and supply. When the internet is out, no one can demand or supply the BTC, so there will be no change in its price.

This topic has been created before, but in that topic there was no mention of such a solar superstorm but instead just an imagination, which I think comes to reality. I hope Scientist will be proved wrong on this one too, and if they aren't, then they should come up with some plan.

[Marvelman]

Solar superstorms messing up the internet is pretty crazy to think about.  Makes me a little anxious too.  For stuff like Bitcoin, it could really change things.  But Bitcoin's value wouldn't actually change much since no one could use it without the internet.  So you couldn't buy or sell it either. And  like others said though, if we had solar superstorms bad enough to knock out the internet for weeks, Bitcoin would be the least of our worries.  Wed have much bigger problems to deal with.

Thanks for sharing this news, because I was not aware of this incident that took place before, but Artice did not mention what happened back then. I think there was no internet back in time, maybe that's why.
/.../

What do you mean, what happened then? For God's sake, it was 1859! Not only was there no internet, but there was also no electricity as we know it today. Nikola Tesla was born in 1856.

[JunaidAzizi]

While browsing through social media, I came across an article that mentioned Solar superstorms could 'wipe out the internet' for weeks or months, scientist says. Will the loss of internet connectivity for weeks or months affect the value of cryptocurrencies such as Bitcoin? What will be the outcome?

Source: https://www.foxweather.com/earth-space/solar-storm-wipe-out-internet

This will not happen because the scientists just take an estimate and do a pridiction that maybe this will happen. Firstly it will not happen but let's suppose it happens then there are no worries. We are in 2023 not in the 90s when everything was done through cables, the internet system was now passing through a signal and it is not possible that the storm will destroy the whole world's internet system, maybe it will come in some countries. If it comes into the whole world and there is a full shutdown then I don't think that it will do any damage to the cryptocurrency. The worst it will do to Bitcoin is to stop the mining process. The price will not be changed and will remain the same if no selling or buying occurs then how it will make changes in the prices?

[milewilda]

While browsing through social media, I came across an article that mentioned Solar superstorms could 'wipe out the internet' for weeks or months, scientist says. Will the loss of internet connectivity for weeks or months affect the value of cryptocurrencies such as Bitcoin? What will be the outcome?

Source: https://www.foxweather.com/earth-space/solar-storm-wipe-out-internet

Yeah, i have heard this one too and i dont know if this one would be true or some another internet thing that we do have today which not to taken seriously
but if this one would really be that true then losing internet wont really be just that focusing on what would happen to Bitcoin but rather on what would be happening into those industries
who are really that totally depending on Internet?

Come in mind that in todays era or years on which most of things relies on internet. Data transfers and communication is really that heavily relying with it. On the time that
there's an absence when it comes to internet connection then this is something that will disrupt and slow down basic operations on what this world had. Frankly speaking even people who do
love social media would really be pissed out on having no internet for a month.

Cant really even imagine on having none on a single day on which you would really be punching up the wall or banging your head because of boredom.
Relate? This is how human beings are already that too attached into internet nowadays.

[panganib999]

Bro, worry less about the bitcoin price and be more concerned about the more adverse effects of this apparent solar superstorm. First and foremost bitcoin's gonna be the last of our worries when shit hits the fan and we couldn't contact people, let alone use ATMs to cash out our money, or remit money from across the planet, not to mention medical systems and hospitals that are very reliant nowadays to the internet and the access to technology. Just imagine the utter chaos that this will cause. Keep in mind as well that this is going to last a long while, and until we get the internet back to its current tippy-top shape we're gonna have to say goodbye to bitcoin and cryptocurrencies for the meantime.

[jeraldskie11]

Bitcoin cannot be used if there is no internet, if bitcoin cannot be used then the price of bitcoin will not be affected much because everyone will be out of internet so no one can buy bitcoins and no one can sell bitcoins. If there is no buying or selling then the market is more likely to remain unchanged. But it seems to me that it is not possible that any country or nation will shut down the internet system because if the internet system is shut down the whole cyber system of a country will be broken and that country will suffer huge financial losses. If they feel the need to make such a decision then I think they must think of alternatives.

No that's not true. There are couple of ways you can transfer Bitcoin without internet connection.

• SMS-Based Transactions
• Satellite Transactions
• QR Codes and Offline Wallets
• Mesh Networks

Having no internet connection might slow down Bitcoin but I swear it can't stop Bitcoin no matter what happen.

Source : 4 Ways to Make On-Chain Transfers Without Internet

[freedomgo]

Everyone will be affected since we are in the digital age now. We can't live without the internet; people will panic, and yet the bank could not provide withdrawals as it's on a system basis. So it's important that we stock the necessary supplies in case this would happen, as our money in the bank might not be accessible even through offline or actual visits due to the high demand.

But let's hope it will not last long, as even one day, lots of things could already happen since our world moves fast already, and the "no internet" would kill that movement. We will literally be back in the old days without the internet.

I will also take a break from bitcointalk if it would happen, i mean everyone of us. 

[Kakmakr]

Well, solar storms usually only affect one side or a section of the earth... not the whole planet. So the military and scientist usually have "protected" equipment that they can use to detect these solar spikes, before it reach earth. 

You can also build a very basic Faraday cage to offer some protection against solar storms like this. In any way, if this happens.... Bitcoin might have a better chance to survive than your average Bank or ATM or pay point at your local shop, because it is decentralized all over the planet. 

[moneystery]

the worst possibility that a solar superstorm could wipe out the internet would affect the price of bitcoin globally due to the inability of people to be able to carry out transactions and various other things on bitcoin. this may have a domino effect on other cryptocurrencies, which will impact the global crypto market very significantly. i didn't expect that something like that would happen because it would be like the end of the world for the market and there would be a lot of people affected by this.

hopefully the government or space agency can provide a solution regarding this because the possibility that a solar superstorm could wipe out the internet is a problem that cannot be considered trivial because it will be related to many things.

[irsykes]

Solar storms are a phenomenon that can cause and this phenomenon will cause electricity and internet outages. So if the internet around the world goes down, we will only face a temporary disruption in Bitcoin, but we will most likely face other problems if that happens because electricity and internet are essential needs for all humanity and even then they will not last long.
And our Bitcoins will remain on the blockchain and once the electricity and internet come back on and some nodes start up and we can use them again as usual. So in my opinion there is no problem and there is no need to be afraid, because this phenomenon is only temporary.

We don't know and haven't experienced the situation with the solar storm disaster. If so, maybe there is a way to anticipate so that the internet network is not fatally damaged, even if it is temporary. because this disaster will impact the whole world, everyone is worried about the money they save in various online wallets. I've seen world conspiracy opinion videos like now (everyone is led to depend on electricity, the internet, everything is easy to access)

Based on the report it has happened before in 1859 (Carrington Event) and it affected the telegram operations and even led to the electrocution of some telegram workers. This could be indeed a very terrible condition and I am concerned about the Bitcoin space because I have an interest in it. I know it will affect other more important sectors like defense and health systems. However, the Bitcoin space will be less affected because it is decentralized and technologically advanced.

But I am glad that the Solar superstorm would give Earth's inhabitants 18-24 hours' notice in advance so satellites can be backed up or put in safe mode. But I don't want to experience such an event because it could lead to a global economic meltdown.

It certainly has a big impact, whether it is a chain in any field, it will cause major damage, because now everything depends on technology and networks to shorten time. If it had happened, perhaps the government would not have remained silent in anticipating a solar storm disaster because of this effect. Yes, of course for the crypto world it is a part of being a savior for storing data or money which can be guaranteed from the current modern era.

[btc78]

well this is a phenomenon that will affect everyone so no one’s really gonna be able to manipulate or control the market unless of course scientists can create something that could prevent the internet from being unusable just hoping that it’s something everyone can use and not only a privilege

[Natalim]

The Internet has become life in most people and most transactions. Scientists will surely take action to prevent its breakdown otherwise, it is useless to detect it if they do nothing at least have some backup to keep the internet running. The impact of this is huge and all means of online businesses and transactions will stop, that is even worse than just thinking about Bitcoin because we can still hold them but for those who are reliant on the internet for daily transactions, that is truly difficult for them to survive.

[franky1]

The Internet has become life in most people and most transactions. Scientists will surely take action to prevent its breakdown otherwise,

scientists dont take action.. its the IT admin in businesses that take action.
its the IT admin that needs to convince their CEO to keep a stockpile of replacements to use in an emergency. usually the problems stem from CEO's wanting to budget and cost cut.

[digaran]

I wonder, since solar storms move as fast as light, how can we see them and alert earthlings in time? Because even if you are in space and near the sun, by the time you can detect the storm which would be through getting hit by it, then any signal you try to send back to earth would have the same speed as the storm itself, so your signal and the storm would arrive to earth at the same time. Or does the sun announces that it's going to release such storms before it does release them?

[nakamura12]

I don't think it will affect the price of Bitcoin but it will affect the circulation of BTC since no one can buy and sell for the time that there's no internet until it is restored. If no one can buy and sell then the supply and demand won't change. The people who use will be affected since they can't use Bitcoin and the money they have invested in BTC will be stuck for a while and will have to use Fiat alone for a while until it is resolved.

[franky1]

I wonder, since solar storms move as fast as light, how can we see them and alert earthlings in time?

dumbing it down
the "light" moves at different speed than the "energy"

[Mauser]

While browsing through social media, I came across an article that mentioned Solar superstorms could 'wipe out the internet' for weeks or months, scientist says. Will the loss of internet connectivity for weeks or months affect the value of cryptocurrencies such as Bitcoin? What will be the outcome?

Source: https://www.foxweather.com/earth-space/solar-storm-wipe-out-internet

I don't think it's going to be realistic that the whole internet is being wiped out for months. If that was really the case then the world would be doomed and the price of Bitcoin would be our least concerned. So many companies and workers rely upon the internet for their daily work. Just look at the millions of people working remotely, without the internet that wouldn't be possible anymore. It would lead to a surge in lay offs and company bankruptcies and the government would need to step in. Since most governments are already close to 100% debt to GdP levels this would also lead to countries going bankrupt. Stock markets would panic and the same happens to crypto market, but if you don't need to touch your investment portfolio the drop in value shouldn't affect you that much. Once the internet returns the world should normalize again and return eventually to the pre crisis levels. The longterm value of Bitcoin shouldn't be affected that much.

[AicecreaME]

Nothing.

It will be left untouched if the solar super storm would happen (let's hope not). Without the internet, that would be basically a forced hodl of our Bitcoin, and that's a good thing to avoid panic selling, though it could be still a disadvantage for some people. Not just Bitcoin, the majority of the society will become useless without the internet, so let's hope we can figure something that could prevent it from stopping our internet just in case.