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Ekaros
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November 17, 2013, 02:05:33 PM |
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well the problem is that if the internet went down, the price for BTC would completely crash as fewer people would believe in it or have access to it.
If the internet went down, the price of BTC would be the least of your worries. yes. this would be dramatically for the economy of the world. but its not possible to kill the complete internet, but you can cut of single countries. Exactly, inside the individual countries it would work, but between there can be major issues. On other hand also inside countries depending the infrastructure, destruction of single or a few points can have major impact. I'm starting to believe that Internet even working is a small miracle itself... I think it's the most complex thing humans have build... |
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NUFCrichard
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November 17, 2013, 06:10:52 PM |
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well the problem is that if the internet went down, the price for BTC would completely crash as fewer people would believe in it or have access to it.
If the internet went down, the price of BTC would be the least of your worries. Not really, if you are heavily invested in bitcoin it would a primary concern. The world got by before the Internet, bitcoin didn't. |
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Spendulus
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November 18, 2013, 02:41:28 PM |
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....inside the individual countries it would work, but between there can be major issues. On other hand also inside countries depending the infrastructure, destruction of single or a few points can have major impact.
I'm starting to believe that Internet even working is a small miracle itself... I think it's the most complex thing humans have build...
It doesn't quite work that way. Assume that at some moment in the next year, a major country goes off the Internet. Hackers and other individuals seeing market opportunities, immediately COMPENSATE. The result is massive numbers of interconnected mesh networks, including long haul connections of sorts we may not be able to conceive of today. If the result is lower long haul bandwidth, then one of the compensatory mechanisms is quicker loading web pages. Action ..... reaction Let them hit the kill switch. |
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greenlion
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November 18, 2013, 03:44:46 PM |
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Not really, if you are heavily invested in bitcoin it would a primary concern.
The world got by before the Internet, bitcoin didn't.
The world of 2013 does not get by without the internet. |
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Spendulus
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November 19, 2013, 01:42:23 PM |
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Not really, if you are heavily invested in bitcoin it would a primary concern.
The world got by before the Internet, bitcoin didn't.
The world of 2013 does not get by without the internet. Does bitcoin actually require the Internet and if so, for what? Message protocals are not internet protocals. I think.... |
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Ekaros
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November 19, 2013, 03:58:45 PM |
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Not really, if you are heavily invested in bitcoin it would a primary concern.
The world got by before the Internet, bitcoin didn't.
The world of 2013 does not get by without the internet. Does bitcoin actually require the Internet and if so, for what? Message protocals are not internet protocals. I think.... No. You could jurry rig it to work over any medium that allows you to transfer data. Still, it wouldn't be too good... The issue is that it needs to stay in sync, and you can redo transactions in different forks if there is no doublespends, but it get's rather messy if those forks are really long... |
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Spendulus
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November 20, 2013, 09:43:19 PM |
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Not really, if you are heavily invested in bitcoin it would a primary concern.
The world got by before the Internet, bitcoin didn't.
The world of 2013 does not get by without the internet. Does bitcoin actually require the Internet and if so, for what? Message protocals are not internet protocals. I think.... No. You could jurry rig it to work over any medium that allows you to transfer data. Still, it wouldn't be too good... The issue is that it needs to stay in sync, and you can redo transactions in different forks if there is no doublespends, but it get's rather messy if those forks are really long... Yeah. Let's think unused capacity on Sirius radio. There are ways the blockchain could easily be kept up. It doesn't need THE INTERNET. |
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beetcoin
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November 20, 2013, 09:46:00 PM |
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Not really, if you are heavily invested in bitcoin it would a primary concern.
The world got by before the Internet, bitcoin didn't.
The world of 2013 does not get by without the internet. Does bitcoin actually require the Internet and if so, for what? Message protocals are not internet protocals. I think.... the blockchain is confirmed through the internet. it's the ledger that says "so and so address (which means wallet) has this amount of BTC." without the internet, BTC would be worth nothing. |
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Spendulus
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November 21, 2013, 01:27:42 AM |
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....
the blockchain is confirmed through the internet. it's the ledger that says "so and so address (which means wallet) has this amount of BTC." without the internet, BTC would be worth nothing.
I think we are saying the same thing two different ways, but there are implications. Here's where I'm coming from. Usenet, and FTP, as well as MIRC, are separate protocals from Http. Email is a different protocol, too. When I think of Internet, it is http and https. These protocols may be useful, but are clearly not required to maintain the blockchain or verify it. But perhaps when they use a phrase like "Internet Kill Switch" it means shutting all this stuff down. |
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Ekaros
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November 21, 2013, 01:58:15 AM |
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....
the blockchain is confirmed through the internet. it's the ledger that says "so and so address (which means wallet) has this amount of BTC." without the internet, BTC would be worth nothing.
I think we are saying the same thing two different ways, but there are implications. Here's where I'm coming from. Usenet, and FTP, as well as MIRC, are separate protocals from Http. Email is a different protocol, too. When I think of Internet, it is http and https. These protocols may be useful, but are clearly not required to maintain the blockchain or verify it. But perhaps when they use a phrase like "Internet Kill Switch" it means shutting all this stuff down. For me Internet is TCP/IP, with dash of UDP and handfull of others... Okay it's a real mess when you get in too deep. Just look at the wikipedia... There is two alternatives for "Internet Kill Switch", one is the DNS-system and the other one is lot of inter network connections... First case isn't impossible to handle, second one is rather deadly. |
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