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awesome31312
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September 10, 2016, 08:14:29 PM
 #1

This is an 'argument' I've been hearing before I was into Bitcoin. This was when I would be using my Android tablet in class, doing our math classwork on it. Of course, most people thought I was showing off, others thought it was cool, but some would also say


"What if there is an EMP? That would wipe out your entire course work dude"

When I was locked up last month, I heard one guy discussing the future collapse of fiat currency, and how we would be transitioning to a gold based economy. He asked me what my investments were in, and I said "Bitcoin". He said "Don't do Bitcoin man, if there's a huge EMP bomb in the future, you will be left with nothing". Of course, my response was the exact same response that I would always have when I was in class:

"Dude, if there is ever a large EMP attack, I'm pretty sure your Bitcoins would be the last thing on your mind, I'd be more worried about the fridge, schools, banks, and elevators with people trapped inside of them"

It's pretty interesting what lengths people will go to try and justify making fun of Bitcoin as an "edgy Libertarian" thing, but the fact is, cryptocurrency is perhaps the safest way to store your money. Biometrics (ie fingerprints) can be forged or hacked, so can facial recognition, as can fiat currency, but not cryptocurrency.

Has anybody else ever heard the "What if there is an EMP" argument?

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September 10, 2016, 08:18:55 PM
 #2

What is EMP? (ElectroMagnetic Pulse?), what does it has to do with fridges and bitcoins!
Sorry but I don't understand this, if you mean bomb then the bitcoins will not disappear if you leave the private keys to someone else or the statement in case you die.

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September 10, 2016, 08:25:28 PM
 #3

What is EMP? (ElectroMagnetic Pulse?), what does it has to do with fridges and bitcoins!
Sorry but I don't understand this, if you mean bomb then the bitcoins will not disappear if you leave the private keys to someone else or the statement in case you die.

Yes, and
Quote
The resulting rapidly changing electric and magnetic fields may couple with electrical and electronic systems to produce damaging current and voltage surges.

if you mean bomb then the bitcoins will not disappear if you leave the private keys to someone else or the statement in case you die.

of course unless we have no more electricity / internet connection lol
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September 10, 2016, 08:25:43 PM
 #4

What is EMP? (ElectroMagnetic Pulse?), what does it has to do with fridges and bitcoins!
Sorry but I don't understand this, if you mean bomb then the bitcoins will not disappear if you leave the private keys to someone else or the statement in case you die.

Haha...think about it.

How do you access your bitcoin? Or better yet...how do you access the blockchain for a transaction?

Any guesses?

You use a computer or your phone. Can your computer or phone work with out electricity? No. So if there's an EMP and all electronics - including servers (the shit that keeps your information in the cloud) - are knocked off line, you, we risk losing all record of the bitcoin we own or at least the ability to make transactions.

The best thing. Keep significant amount of your coin in cold storage. It's offline. It's protected.

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September 10, 2016, 08:27:07 PM
 #5

Quote
When I was locked up last month, I heard one guy discussing the future collapse of fiat currency, and how we would be transitioning to a gold based economy.

First, you were in jail last month? Second, there was a guy discussing a fiat transition to gold in jail?


Quote
Has anybody else ever heard the "What if there is an EMP" argument?

Yes, this has come up before. First, an EMP attack probably wouldn't affect the entire planet. Remember that Bitcoin is global. That's what makes it so resilient. If computers in one part of the network go offline it's no problem. As long as there is even a single computer, anywhere in the world, that has a a copy of the blockchain Bitcoin can ramp right back up and continue forward.

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September 10, 2016, 08:28:13 PM
 #6

yeah. this comes up pretty often. if there was an emp bitcoin will be totally and completely useless. gold is gonna be totally useless too.

in that scenario your wealth is gonna be food, bullets and antibiotics. the stuff that keeps you alive and preserves your life.

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September 10, 2016, 08:29:08 PM
 #7

What is EMP? (ElectroMagnetic Pulse?), what does it has to do with fridges and bitcoins!
Sorry but I don't understand this, if you mean bomb then the bitcoins will not disappear if you leave the private keys to someone else or the statement in case you die.

Fridges would be nuked by an EMP, my point of bringing them up was, you'd starve to death quicker than you could cry about losing your Bitcoin.

Quote
When I was locked up last month, I heard one guy discussing the future collapse of fiat currency, and how we would be transitioning to a gold based economy.

First, you were in jail last month? Second, there was a guy discussing a transition to gold in jail?

Hahaha, not jail man. There are lots of places you can be locked up that aren't jail, they're certainly like jail, but different.

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September 10, 2016, 08:29:45 PM
 #8

Use paper wallets then. They are EMPproof Cheesy

They can be fire/water proof too if you secure them in a right way. Bitcoin has a much serious enemy rather than an EMP.

It is Quantum Computing.

I wouldn't hold any cryptos after 2 years from this day. In 2020's or a bit later, crypto may be gone forever.
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September 10, 2016, 08:48:50 PM
 #9

What is EMP? (ElectroMagnetic Pulse?), what does it has to do with fridges and bitcoins!
Sorry but I don't understand this, if you mean bomb then the bitcoins will not disappear if you leave the private keys to someone else or the statement in case you die.

Haha...think about it.

How do you access your bitcoin? Or better yet...how do you access the blockchain for a transaction?

Any guesses?

Well if the bomb affects the whole country then the bitcoins could be accessed from another country if you are still alive.
So the bitcoins will not disappear but will be hard to access to, anyway if EMP happens bitcoin will not be the first issue.

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September 10, 2016, 08:57:47 PM
 #10

EMP would simply break down worldwide communications. We would have a multitude of blockchains depending on which local communications structures remained intact. The problem would be sorting it all out after worldwide Internet came back up.

Cool
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September 10, 2016, 08:59:17 PM
 #11

EMP would simply break down worldwide communications. We would have a multitude of blockchains depending on which local communications structures remained intact. The problem would be sorting it all out after worldwide Internet came back up.

Cool

Minor error but, unlike CoD, in real life, an EMP disables electronics forever. Once a device has been damaged by the EMP, it can't ever be usable again.

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September 10, 2016, 09:01:03 PM
 #12

EMP would simply break down worldwide communications. We would have a multitude of blockchains depending on which local communications structures remained intact. The problem would be sorting it all out after worldwide Internet came back up.

Cool

Minor error but, unlike CoD, in real life, an EMP disables electronics forever. Once a device has been damaged by the EMP, it can't ever be usable again.

Then I think with this last line you answered your own question, bitcoin will disappear together with all other online currencies.
Even the banks that have the digitalized money will be destroyed and only the cash will remain (if any).

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September 10, 2016, 09:07:26 PM
 #13

I actually never heard this argument before, at least not in real life. If there was an EMP... We'd be screwed. Currency issues would have to be sorted out later, I guess.
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September 10, 2016, 09:16:14 PM
 #14

EMP would simply break down worldwide communications. We would have a multitude of blockchains depending on which local communications structures remained intact. The problem would be sorting it all out after worldwide Internet came back up.

Cool

Minor error but, unlike CoD, in real life, an EMP disables electronics forever. Once a device has been damaged by the EMP, it can't ever be usable again.

The error is yours, in assuming that there would be worldwide EMP that would take out all the electronics, and the ability to rebuild.

Cool
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September 10, 2016, 09:19:11 PM
 #15

An EMP would destroy anything electronic, this includes cold storage drives used to store BTC. It doesn't matter if it is plugged in or not, it is gone unless you have it stored in a Faraday Cage which would save it.

If there was a big enough EMP detonation to disrupt an entire country then like others said BTC would be the least of anyone's worries.

You would be more concerned with why your vehicle no longer works and how you are going to obtain food and water once your supplies run out.

For those that think something like that wouldn't happen or is a joke, let me remind you that a single EMP detonation 2 miles above any country would effectively  destroy all communications and the vast majority of all electronics for a huge span of area.




























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September 10, 2016, 09:19:31 PM
 #16

Minor error but, unlike CoD, in real life, an EMP disables electronics forever. Once a device has been damaged by the EMP, it can't ever be usable again.

Lol Are you trying to scare everyone away from Bitcoin or something? Of course you can use EMP damaged items again. Just replace what is damaged. That's like saying if you drop your phone or a hair dryer in the bathtub it is never usable again. Of course these things can be fixed. Sometimes it's not worth the cost of fixing, but then just replace it. As it relates to Bitcoin, as I said as long as even a single copy of the blockchain existed anywhere in the world Bitcoin could ramp right back up.

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September 10, 2016, 09:21:56 PM
 #17

An EMP would destroy anything electronic, this includes cold storage drives used to store BTC. It doesn't matter if it is plugged in or not, it is gone unless you have it stored in a Faraday Cage which would save it.

If there was a big enough EMP detonation to disrupt an entire country then like others said BTC would be the least of anyone's worries.

You would be more concerned with why your vehicle no longer works and how you are going to obtain food and water once your supplies run out.

For those that think something like that wouldn't happen or is a joke, let me remind you that a single EMP detonation 2 miles above any country would effectively  destroy all communications and the vast majority of all electronics for a huge span of area.

That's why the wise person will place a few of his more important electronic devices in Faraday cages deep underground.

Cool
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September 10, 2016, 09:26:19 PM
 #18

An EMP would destroy anything electronic, this includes cold storage drives used to store BTC. It doesn't matter if it is plugged in or not, it is gone unless you have it stored in a Faraday Cage which would save it.

If there was a big enough EMP detonation to disrupt an entire country then like others said BTC would be the least of anyone's worries.

You would be more concerned with why your vehicle no longer works and how you are going to obtain food and water once your supplies run out.

For those that think something like that wouldn't happen or is a joke, let me remind you that a single EMP detonation 2 miles above any country would effectively  destroy all communications and the vast majority of all electronics for a huge span of area.

That's why the wise person will place a few of his more important electronic devices in Faraday cages deep underground.

Cool

It's not necessary to place it deep underground, you could have it sitting out in the middle of your yard and it would be fine. The issue I see is electricity and internet access, both of which are required to operate BTC.

Even if the cold storage was in a Faraday Cage it wouldn't matter as it would still effectively be gone for years while the grid is restored. That is if there is anyone left to do so.

Most people would be dead within the month just from starvation, this isn't including an invading army who detonated the bomb.




























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Coinster
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September 10, 2016, 09:34:13 PM
 #19

An EMP would destroy anything electronic, this includes cold storage drives used to store BTC.

You do realize the true way to do cold storage is to print out private keys on paper  Wink

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September 10, 2016, 09:41:09 PM
 #20

An EMP would destroy anything electronic, this includes cold storage drives used to store BTC.

You do realize the true way to do cold storage is to print out private keys on paper  Wink

This doesn't really mean anything without at least the first and last transactions of every Bitcoin address printed out as well. An EMP means that the whole blockchain has the potential of being lost. Without the printouts of those two transactions, at least, there would be no way anyone could ever re-start the blockchain.

The re-start would take manually inputting all the info of the first and last, accurately, by honest hand.

Cool
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