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Author Topic: If our current economic system collapses...  (Read 1006 times)
beetcoin
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November 11, 2013, 09:31:08 AM
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and we end up entering a era worse than the great depression.. would there even be electricity or internet service? if there isn't, would bitcoin be worth anything? some might believe me to be crazy, but there are 7 billion people on this planet.. if food production tapers off, there would be lots of people dying...
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corebob
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November 11, 2013, 09:32:49 AM
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and we end up entering a era worse than the great depression.. would there even be electricity or internet service? if there isn't, would bitcoin be worth anything? some might believe me to be crazy, but there are 7 billion people on this planet.. if food production tapers off, there would be lots of people dying.
No. It would be heaven on earth once again. Nothing like the Hollywood movies  Grin
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November 11, 2013, 09:40:57 AM
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Actually it could be possible that quantum entanglement or something similar leads the way to a world wide web that doesn't rely on central hubs or data cables and electricity can already be generated without a central grid, so a persistent internet in a shutdown depressionary scenario is not so far fetched as a matter of time.
beetcoin
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November 11, 2013, 09:47:21 AM
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i think that at the very best.. the internet would be around, but not ubiquitous... which would tank the price of bitcoins.
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November 11, 2013, 11:28:05 AM
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and we end up entering a era worse than the great depression.. would there even be electricity or internet service? if there isn't, would bitcoin be worth anything? some might believe me to be crazy, but there are 7 billion people on this planet.. if food production tapers off, there would be lots of people dying...

there was still electricity in the great depression.

beetcoin
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November 11, 2013, 07:11:32 PM
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and we end up entering a era worse than the great depression.. would there even be electricity or internet service? if there isn't, would bitcoin be worth anything? some might believe me to be crazy, but there are 7 billion people on this planet.. if food production tapers off, there would be lots of people dying...

there was still electricity in the great depression.

hence i wrote "worse than the great depression." i think if there is a collapse, it'll definitely be worse than the great depression.
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November 11, 2013, 10:16:28 PM
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The Internet is a massive web that will likely be up in some areas baring a world wide catastrophe.  After all, that was a main reason the Internet was created in the first place.

Would a collapse tank Bitcoin?  Maybe.  But it may continue to be viable and may be the most viable currency of them all.

When the "system" gets back on its feet, and at some point it will even if that requires some years, bitcoin may be very valuable indeed.

But nobody knows.  If you are preparing for massive disaster, I'd say to get your beans, bullets and band-aids all set first, then get yourself some silver and/or gold, as well as some bitcoin.  Cover your bases and do not rely on just one thing.

Sincerely I am, Johnny BitcoinSeed .com
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