Apocalyptic Scenario - What happens to Bitcoin?

[ulhaq]

What happens to the value of bitcoin in an apocalyptic scenario? Eg, if the world starts getting hit with electromagnetic pulses which knock out power, or let's say the report that came out a few days ago is true, that civilization as we know it deteriorates by 2050 due to mass migration from climate change.

Many claim that bitcoin will be worthless and gold, guns, and ammunition will be very valuable. On the other hand it has been claimed that bitcoin requires very little infrastructure and would work much better than other things. If bitcoin is truly a store of value, then it should store value especially in unfavorable circumstances.

[1715225589]

1715225589

[Ailmand]

Massive power outage would make bitcoin meaningless since it is stored and used online. People will not have access on it if that happens. So, I think that is one of the risk or disadvantage of bitcoin. 2050 is too far out, there are a lot of things that could happen, not to mention developments and innovation that could happen. So, you don't have to worry too much about the future.

[xvids]

What happens to the value of bitcoin in an apocalyptic scenario? Eg, if the world starts getting hit with electromagnetic pulses which knock out power, or let's say the report that came out a few days ago is true, that civilization as we know it deteriorates by 2050 due to mass migration from climate change.

Many claim that bitcoin will be worthless and gold, guns, and ammunition will be very valuable. On the other hand it has been claimed that bitcoin requires very little infrastructure and would work much better than other things. If bitcoin is truly a store of value, then it should store value especially in unfavorable circumstances.

It is true what they are saying Bitcoin would be worthless in those kind of scenario ,
Just think about it I think even Fiat would be worthless at those scenario's .
The only thing that would be valuable is the consumables .

[CryptoBry]

Many claim that bitcoin will be worthless and gold, guns, and ammunition will be very valuable. On the other hand it has been claimed that bitcoin requires very little infrastructure and would work much better than other things. If bitcoin is truly a store of value, then it should store value especially in unfavorable circumstances.

I think it will be food and water and maybe even air that would be valuable in such an apocalyptic and world-changing cataclysm. I don't know what gold will be playing in such a scenario...or any other investment tools they will all be worthless. Yes, maybe guns and ammunition can be important. These things are actually always in the mind of the people categorized as preppers (a person who believes a catastrophic disaster or emergency is likely to occur in the future and makes active preparations for it, typically by stockpiling food, ammunition, and other supplies).

At least if any gloomy scenario can occur, the debate on who and where is Satoshi Nakamoto will officially be stopped and all the bickering and disagreements within and without this industry will finally be forgotten. However, I will really miss this forum.

[hatshepsut93]

If it will happen slowly, Bitcoin will crash hard, as people would be cashing out quickly to get their hands on gold and other hard stores of value. But if it will happen in a moment, people won't even have time to sell BTC, it will become nearly worthless in seconds, and people who hold it might have no access to the Internet for years, or even the rest of their lives.

But this is all is just theorizing, the chance of apocalypse is negligible, and if you'll try to plan your life around it, you'll be just wasting resources on building a bunker, buying supplies, etc. Also, I don't think that even gold will be that useful in that scenario, it's just a piece of shiny metal, what are you going to do with it? And even valuable goods like ammunition and medicine are only valuable if you can protect them, otherwise someone stronger will take them from you.

[Shenzou]

What happens to the value of bitcoin in an apocalyptic scenario? Eg, if the world starts getting hit with electromagnetic pulses which knock out power, or let's say the report that came out a few days ago is true, that civilization as we know it deteriorates by 2050 due to mass migration from climate change.

Many claim that bitcoin will be worthless and gold, guns, and ammunition will be very valuable. On the other hand it has been claimed that bitcoin requires very little infrastructure and would work much better than other things. If bitcoin is truly a store of value, then it should store value especially in unfavorable circumstances.

When such thing happen, there will be not time to think about bitcoin, everyone will be thinking about survival and think of every possible way to keep himself and the people around them safe, and no one will have time or the means to look at bitcoin, but assuming that some people will still have access to the internet will see that bitcoin will have no value because there is 0 demand and if there is no demand the value will just go down and bitcoin will no longer exists.

[omone1]

In such scenario, the whole of our planet and the human connectivity will be in total chaos, and nothing will work for a while, our system both digital and traditional will be in trouble. So not only the bitcoin is going to be affected. Both such won't happen now, it's reserved for the future.

[Fred3030]

Bitcoin as we all know is a digital currency hence its use age depends on electronic devices which certainly are on power. If there be a to talk blackout as a result of an Apocalypse, truth be told digital currencies such as bitcoin will  seize to exist with all due respect to the tech behind it and traditional assets will be the majors means of exchange.

[Ailmand]

In such scenario, the whole of our planet and the human connectivity will be in total chaos, and nothing will work for a while, our system both digital and traditional will be in trouble. So not only the bitcoin is going to be affected. Both such won't happen now, it's reserved for the future.

Everyrhing will adjust and go back to square one. People will less focus on technology, focus on life and living, we will go back to how we do thing traditionally (communications, trade, business, etc.). This might be a good reset for all of us.  

[kryptqnick]

What happens to the value of bitcoin in an apocalyptic scenario? Eg, if the world starts getting hit with electromagnetic pulses which knock out power, or let's say the report that came out a few days ago is true, that civilization as we know it deteriorates by 2050 due to mass migration from climate change.

Many claim that bitcoin will be worthless and gold, guns, and ammunition will be very valuable. On the other hand it has been claimed that bitcoin requires very little infrastructure and would work much better than other things. If bitcoin is truly a store of value, then it should store value especially in unfavorable circumstances.

I think that in that case Bitcoin, any fiat or gold will be worthless. In any apocalyptic scenario or even a situation that is somehow close to it, what matters is the things that are of real value for survival plus things a lot of people are very used to. Weapons for protection, food that doesn't go bad without fridges and stays edible for a long time, drinking water, maybe warm clothes if we are talking about cold climate. Apart from that, I'd name alcohol and cigarettes as things that might work as a 'currency' in many situations. Bitcoin is characters, they don't get you fed or warm. Fiat is just coins and papers, gold is also not very useful for survival. The value can restore if humanity makes it through these difficult times and recovers technologically.

[gentlemand]

It would be complete and utter charcoal black toast.

The gold hoarders would also get a rude awakening when people laughed in their face when trying to hand over a useless lump of metal in return for food, medical supplies or weapons.

All currencies are abstractions and luxuries allowed by functioning societies. When they stop functioning the stuff that keeps you alive suddenly becomes rather more desirable.

If we're talking proper collapse it may take generations before the idea of something like BTC is viable or of interest again, or it may never return to that.

[leonair]

You have a great point there though, it's true that Bitcoin has a great store of value and what it shows as of the moment but it's dependent on electricity and Internet which can be destroyed intentionally in the future by world war 3 or other force majeure but it's intangible and we must not full rely on it because we are still living in our physical world and not virtually.

Modernization always happen and I positively think that this kind of situation will be resolve in the future or as early as now there are projects that are especially for this kind of scenario.

[Genemind]

Everything comes to an end but since our generation is relying too much on developing technology, I believe that Bitcoin would still go far. It's not yet the right time for us to doubt about it. People will still do something for the survival of cryptocurrency since it plays a vital role in the economic growth of most countries.

[gentlemand]

Everything comes to an end but since our generation is relying too much on developing technology, I believe that Bitcoin would still go far. It's not yet the right time for us to doubt about it. People will still do something for the survival of cryptocurrency since it plays a vital role in the economic growth of most countries.

It's always struck me as nuts that they'll make school children study 17th century lesbians for weeks on end but won't devote 5-10 hours on teaching them how to light a fire, use a compass, navigate by the stars or identify edible plants. That turns you from a vegetable to someone vaguely capable of coping for a little while if things go tits up for a bit.

[figmentofmyass]

What happens to the value of bitcoin in an apocalyptic scenario? Eg, if the world starts getting hit with electromagnetic pulses which knock out power, or let's say the report that came out a few days ago is true, that civilization as we know it deteriorates by 2050 due to mass migration from climate change.

Many claim that bitcoin will be worthless and gold, guns, and ammunition will be very valuable. On the other hand it has been claimed that bitcoin requires very little infrastructure and would work much better than other things. If bitcoin is truly a store of value, then it should store value especially in unfavorable circumstances.

there are too many variables at play. if we're talking about 3+ decades away the possibilities are endless. even if the centralized power grid is disabled, it's possible localized/renewable energy technology will be much more distributed and prevalent by then. it's also possible that p2p mesh networks and other decentralized communications technologies will have already begun replacing the centralized internet infrastructure. in other words, bitcoin may be much less dependent on centralized power and internet infrastructure than today. if that's the case then my biggest concern is the massive hash rate drop on day 0.

in the "walking dead zombie apocalypse" scenario where few humans are left and we are restricted to the infrastructure of 2010, yes bitcoin is probably useless. but in more nuanced situations, the answer becomes more interesting to ponder.

[pixie85]

If we get hit by EMP we'll have more problems to worry about like our cars not working and all our food getting spoiled because fridges everywhere will be offline. Think of the damages. In a real apocalypse you won't need money. People will be trading food and medical supplies alcohol and tobacco. Nobody will worry about the Internet and virtual currencies.

[Oceat]

Let's start it from the start since the apocalyptic scenario is the result of what people doing today will reflect them by tomorrow. This is what we called a domino effect, everything is interconnected somehow.
So, do you think people will keep doing what they were doing today if the future result is already showing today?

Somehow if we ever come to that point then the use of any kind of money is not valuable at all since it is all in chaos.

[Mike Mayor]

lol. The world almost ends and you worried about bitcoin? This is silly. Nothing will be worth anything. Food and weapons would be worth the most. I don't know why gold would be worth anything you can't eat it.
Things like petrol will have great value. Tabacco and stuff like that. Maybe gold and gems would have a place it just depends how "bad" an apocalypse is? If it is really bad then gold would mean nothing.

Let's start it from the start since the apocalyptic scenario is the result of what people doing today will reflect them by tomorrow. This is what we called a domino effect, everything is interconnected somehow.
So, do you think people will keep doing what they were doing today if the future result is already showing today?

Somehow if we ever come to that point then the use of any kind of money is not valuable at all since it is all in chaos.

Yeah as soon as the internet goes down all hell will break lose. No stop lights would work there would be total darkness and no warmth. This sounds very much like a movie though.

[fortunecrypto]

What happens to the value of bitcoin in an apocalyptic scenario? Eg, if the world starts getting hit with electromagnetic pulses which knock out power, or let's say the report that came out a few days ago is true, that civilization as we know it deteriorates by 2050 due to mass migration from climate change.

Many claim that bitcoin will be worthless and gold, guns, and ammunition will be very valuable. On the other hand it has been claimed that bitcoin requires very little infrastructure and would work much better than other things. If bitcoin is truly a store of value, then it should store value especially in unfavorable circumstances.

That's one of the scenarios that can make Bitcoin useless if there is no power, then there would be no internet and if there is no internet then there will be no transactions, I agree that climate change is a big issue in our generation but so many things are been doing to combat this, and if we want to continue using Bitcoin and support cryptocurrency, we should all in one to protect our climate.

[tsaroz]

What happens to the value of bitcoin in an apocalyptic scenario? Eg, if the world starts getting hit with electromagnetic pulses which knock out power, or let's say the report that came out a few days ago is true, that civilization as we know it deteriorates by 2050 due to mass migration from climate change.

Many claim that bitcoin will be worthless and gold, guns, and ammunition will be very valuable. On the other hand it has been claimed that bitcoin requires very little infrastructure and would work much better than other things. If bitcoin is truly a store of value, then it should store value especially in unfavorable circumstances.

Bitcoin is highly depended on internet.
If there is internet, Bitcoin would be much more popular as it is a hassle free value transfer but if we lost our internet connection, Bitcoin along with other online form of currencies would die and precious metals like gold and powerful tools and food would of course be of great value.
If bitcoin is to survive, it should devise a way to prove the transaction without proving it through internet which is impossible with current technology.