What happens if internet connectivity gets terminated

[john_nautica]

It will surely affect the crypto if in case the internet connectivity will be terminated and if it will be fully terminated then crypto will surely to die as crypto is very dependent to internet connectivity unless the developer can find some solutions to counter this kind of problem if in case there are no internet already.

But if it will be terminated for few days only then it will not affect that much for sure as the payment can wait if in case they cannot do something to restore the internet connectivity. As a conclusion everything will depend on how the team behind the crypto will adapt if in case this kind of scenario will likely to happen where internet connectivity is their main problem.

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[shield132]

Nowadays the world has to be sure that electricity problems for internet and the most demanding services are always ready for every challenge. But in any way, I don't want full digitalisation, digital is still a new thing for us and I think we are doing everything very quickly, we have to slow down a little bit but continue steady and focused growth in digital.

Btw if internet connectivity gets terminated, the world will stop and will be a chaos for a while like it was during the first months of Covid pandemic. Everything works online, a lot of people have money on banks account and imagine, one day you wake up and the world doesn't have money, it will cause brutal chaos. The chance that it will happen exist but actually it won't happen (the chance that sun will fall tomorrow exists but it won't happen, statistically everything has probability).

[In the silence]

By that time what will happen with the banking process if there happens a termination of internet connectivity for few days time.

First, that's highgly unlikely in developed countries.

In the same way that the power can go out in a neighborhood of a city for a few hours, the same can happen with the Internet, but do not expect a massive blackout in all countries for several days and, even if that were to happen, the blockchain would still be there. The scenario you raise is so unlikely that I don't worry about it.

I agree with this. Developed countries had always countermeasure regarding on technology that helps us in our daily life since it has been a great progress and had a great impact in these present time. Hence, some countries that belongs to third-world country may experience those slow connections and it's inevitable.

[TinaK]

This depend on the Country you are because I don't think with the way technology is being improved on everyday basis we have to wonder on internet connectivity. This happens often in my country and is being settled within hours.

Connectivity problem is not a technical error so it will never terminated in any country. All the sectors are surely survive in internet connection so, we expect the more reliability of strength in internet. May be we think it will happen in future, obviously total country will stuck and  all platforms are termintated Again back to 50 years in olden days.

[DarkDays]

Came to a bank to repay monthly premium for the loan taken providing gold as collateral. I reached the support executive to know the total amount to be paid to get the collateral submitted. The internet connection has got some issue, and I wasn't able to get the required details. By the time it remembered me of the bitcoin into banking where everything is interconnected.

Right now each and everything is connected with internet and technology. The future of banking might happen through blockchain technology and bitcoin in mass adoption. By that time what will happen with the banking process if there happens a termination of internet connectivity for few days time.

If internet connectivity is lost it will not only affect the banks. Bitcoin will also be affected. We cannot send or receive bitcoin without data being on. It will be a bad moment for everything on earth. Aviation and healthcare will also be affected because they too rely on the internet too.

Were the internet to globally go down, every business will be going into chaos and ultimately everything else. This is because all operations relay in one way or another on systems that need the cloud, or internet directly. Crypto will also be in despair just like everything else.

Though, the chance of the internet going down just like this is close to 0. This is only a what if scenario.

[Mahanton]

Came to a bank to repay monthly premium for the loan taken providing gold as collateral. I reached the support executive to know the total amount to be paid to get the collateral submitted. The internet connection has got some issue, and I wasn't able to get the required details. By the time it remembered me of the bitcoin into banking where everything is interconnected.

Right now each and everything is connected with internet and technology. The future of banking might happen through blockchain technology and bitcoin in mass adoption. By that time what will happen with the banking process if there happens a termination of internet connectivity for few days time.

We know on what would be the world looks like if internet will really be lost. Here's some article about it which would really be worth to read.

https://www.bbc.com/future/article/20170207-what-if-the-internet-stopped-for-a-day

I cant comprehend on what would happen if thats the case. Going back to stone age? hehe

[xcaret]

The entire industrial world depends on the internet .
Remember 2K ? The panic at just the remote chance of an internet collapse ?

Best to keep a couple of thousand bucks in the mattress . Oh ,and a gun. Things could get ugly fast .

[playyamy]

If the Internet stops, I think Bitcoin will perish, because no one will remember such a long key, and no one will keep accounts.

[mezzaluna]

Came to a bank to repay monthly premium for the loan taken providing gold as collateral. I reached the support executive to know the total amount to be paid to get the collateral submitted. The internet connection has got some issue, and I wasn't able to get the required details. By the time it remembered me of the bitcoin into banking where everything is interconnected.

Right now each and everything is connected with internet and technology. The future of banking might happen through blockchain technology and bitcoin in mass adoption. By that time what will happen with the banking process if there happens a termination of internet connectivity for few days time.

Internet Connectivity is now a necessity that is/will be needed for the current situation and future situations. The application of Internet is not only for our financial means to gain more money because its now also used for people in their Online Classes and other Online works that requires them to be connected to the Internet at all time. If the Internet gets terminated, people will surely return to a time in which everything needs to be connected physically which means more usage of their physical body outside their houses.

[JoKleinTopper]

Came to a bank to repay monthly premium for the loan taken providing gold as collateral. I reached the support executive to know the total amount to be paid to get the collateral submitted. The internet connection has got some issue, and I wasn't able to get the required details. By the time it remembered me of the bitcoin into banking where everything is interconnected.

Right now each and everything is connected with internet and technology. The future of banking might happen through blockchain technology and bitcoin in mass adoption. By that time what will happen with the banking process if there happens a termination of internet connectivity for few days time.

hard to tell. I'll wait patiently until it returns to normal

[traderethereum]

I only think a simple. Everything that used the internet connection will have disturbed, and it can not work properly as usual.
The bank will get into big trouble because the network will need an internet connection, but if the transaction is between the local bank with the same city, I think that will not be a big problem.
Bitcoin needs an internet connection when you want to send or receive the amount, so we can use it when the internet is offline.
The blockchain network will not get confirmed, and there will be so many transactions that will delay having confirmation.
I remember about Die Hard 4 movie, in which the hacker can compromise all things that used telecommunication.
I think that will be like that for what will happen if the internet suddenly terminated.

[blckhawk]

By that time what will happen with the banking process if there happens a termination of internet connectivity for few days time.

I don't think they will let the internet be terminated for few days or more because most of us revolve around the internet right now and having terminated for a while will cause vast damage. Not only crypto will be affected but the economy of everyone's country, billions of money will be gone. That's why it's not gonna happen. Losing internet connection was the weakness of everything not only Bitcoin. Vast networks are we talking here so if it's got terminated and so most of the transactions are.

[Coinsfera]

With a technique called Proof of work, bitcoin mining is based on high electricity consumption. In this sense, it must be thought that a power outage may disrupt bitcoin mining. However, if there is a global and systematic power failure, noone will know whether the money in the banks actually exists. I would like to remind you that the paper money we have is one-eighth of the money we use in the whole year and the main payment works are handled from bank accounts, the large amount deferred checks and of course POS machines in the shops.

[irixo10]

Internet is playing a very massive role in the world today, and because of its usefulness and Importance, every business that is using the internet is meant to be at high alert, such that, if there is any problem which affects the internet, they sort it out immediately because they know many things would be at stake. Also, there are some things that cannot be avoided, assuming there is a problem within a location which affects internet, it is normal for the bank services to be affected but what matters is the effort which they will put in place to resolve it as soon as possible, because if it lingers people will be stranded and issues might break out if care is not taken. Thus, in my own understanding, owing to the role banks plays in the world today, if an issue occurs which will disrupt the internet banks will put in every resources to ensure it is solved immediately, it is unlikely it will last for days or even hours. Also, talking about termination of internet connectivity, that is highly unlikely to happen in this current era, because a lot of businesses and services are based on the internet and that would be like turning the world into darkness.

[bassbity]

a system mess was definitely going on, as well as a new update to the data store when it hadn't been saved yet. The connection makes us know that the weakness of the internet network is only one, namely electricity. ah, we really are dependent on the internet. if in just a few days experience blackout, all data and information are not organized.

[shoreno]

premium loans plus gold as collateral ? wow that sounds freakin nice . the loaned amount must be really good but anyway you can always wait for the internet to resume or if your in a hurry you can come back again for some time and im sure that all banks now have an online platforms , you can try checking your status on there . its rare for bitcoin to be involved in banking but btc uses an internet before banks did,  you didnt realize it before ? no internet means no way to access or process a transaction but if you already sent a btc to address and the internet suddenly shut off , the transaction will still go thru . that is the goodness of using a btc

[GeorgeJohn]

The only issues I find there is that, provided that their is  lacks of internet both banking fiat system and other social interactive system will shutdown within the interval and some people who their business and budgets is based on online will lose immensely, and if it happened to a specific country that shows that some documents will be deviate and hackers will penetrate to some wallets by using another network, so looking at internet is contributing for different purposes both for security and financial aspects of life. So it's incomplete without network

[Kakmakr]

I am not saying it is impossible for that to happen, but it is highly unlikely that it will happen globally. There are backup plans for everything... even redundancy measures, if the Internet goes down.

Also remember, if the Internet goes down globally... ALL other financial systems are also f%cked! So your local Bank will not be able to give you money, because it cannot link to the mainframe and the ATMs cannot connect to the Banks network. Also Point of Sale systems and online Banking will fail.   

[death69]

If internet connectivity gets terminated for only a week, it will create another recession which I believe to be the biggest and strongest that can fuck up the whole economy. Our world nowadays depend a lot on the internet since most of the activities require connection in order to proceed. Without the internet, everything will be stagnant and the information can not flow smoothly through any place on this planet

However, I believe bitcoin will remain safe since no one has a chance to access to the blockchain which mean your balance will be totally safe. However, using third party wallets is more dangerous than hard ware wallets since their database can be erased after this destruction. If they can not distinguish which bitcoins belongs to who, you can probably lose your money

[Yatsan]

If ever the internet gets terminated, many things like works related and dependent on internet connection will be interrupted for sure and that would be a headache for the fact that almost all things existing in the world is made possible by having internet connection even the transactions we have on banks and work related stuff are interconnected on having internet. For sure working with Bitcoin and other cryptocurrencies too will be disrupted because of the termination. We might be likely to be back on old days for sure having no internet which kinda frustrating because modern days almost require internet to work out things to be possible.