Internet Apocalypse?

[SirJake]

I see news about NASA warning of an internet apocalypse because of the solar storm.

If the internet apocalypse happens no doubt it will severely damage the global communications system. and also all traditional markets will
crash hard. It will also happen to bitcoin. But I don't think the internet apocalypse will do a huge damage to the banking system. because we can do banking things manually. because there is physical money we can touch. So I don't think this will have a huge impact on the dollar or physical currencies.

However I want to know your idea of what will happen to the bitcoin network if the internet apocalypse happens. when we compare bitcoin to traditional currencies. Is this going to be the disadvantage?
(Please don't mention other consequences here. Just discuss the bitcoin network, price impact, banking system and traditional market.)

-update-
there will be no internet apocalypse- https://www.space.com/sun-solar-storm-internet-apocalypse-debunking
Thanks for your responses mates.

[jrrsparkles]

It's not really a warning from NASA, it's just a  NASA's Parker Solar Probe (PSP) has launched to study in case if such incident happens and the chances of solar super storm is possibly to attack which is only has the chance of 1.2%.

Well, if that happens and internet went down all over the world the price of Bitcoin will take hit and probably even goes to zero but I want to remind you that the banking system will not be efficient as well even though we have physical currency still most of the paper money is just in the digital form and without internet the cross border transactions will be almost impossible so as Bitcoin the fiat system also will take big hit.

[Obari]

It's not really a warning from NASA, it's just a  NASA's Parker Solar Probe (PSP) has launched to study in case if such incident happens and the chances of solar super storm is possibly to attack which is only has the chance of 1.2%.

Well, if that happens and internet went down all over the world the price of Bitcoin will take hit and probably even goes to zero but I want to remind you that the banking system will not be efficient as well even though we have physical currency still most of the paper money is just in the digital form and without internet the cross border transactions will be almost impossible so as Bitcoin the fiat system also will take big hit.

Well if anything happens to internet as whole, everyone will be affected as the world has already gone global and even the traditional banks aren't doing pen and paper banking but rather they're all doing their banking  digitally and will also be affected  greatly but you can rather say that if the incidence takes Ingersoll than expected, then there are possibilities that the traditional banks will easily kick start  again than cryptocurrency which depends greatly on internet and power.

I think  this is a clear one for local banks against bitcoin  else, bitcoin  always stands as a liberator from local banks slavery.
I don't know the chances of NASA's warning coming through  but since it's a warning, I believe  there are still possible ways to cover come this.

[Cricktor]

Heavy solar storms can happen especially when solar activity is up. Now with the ongoing 25th solar activity cycle there will be again some doomsday news and whatnot. As space is vast the likelyhood is rather low that a massive Corona mass ejection event (CME) will actually hit earth, but shit can happen.

If our infrastructure can't cope with it, so be it. Something of the magnitude of the Carrington Event is rather rare. There have been CMEs of dangerous magnitude sampled and observed by the Parker Solar Probe but which missed earth (fortunately!).

Satellites might get damaged but that's not the end of the Internet.

[Lorence.xD]

Well we're in the era of technology where almost everything are relying on the internet for us to communicate or make transaction online, anywhere across the world. If this information is true or might happen for sure it will have huge negative impact to crypto industry since it runs by the internet, you could say some could do offline with other devices, still the msrket itself will be affected since you couldn't even see a real time results.

Where in banks, of course it could also affect them big time since almost many people rely on online transactions for their own convenience. When it comes to recovery of course banks would have recover first due to it could be done in actual transactions where people are obligated to do transactions on site.

[Captain Corporate]

These things always looks so beyond our lifetime and future that we never guess that it would happen nowadays. I feel like even if it does, I would probably not be ready for it, and I am guessing neither would billions of people would be neither. Sure it looks like we are going to go through a risk of this, not guaranteed to happen but there is a risk for it, but I will probably not really do much about it. All of my work is online, hell THIS is a work for me, after all I am getting paid to write here, there is no secret there, every one of us are getting paid to write these, we can't do that if there is no online world, no tech, no nothing like that. I will be just fish out of water, trying to survive, it would be horrible. But I still don't believe we will go through this, and won't get ready for it.

[michellee]

When the internet apocalypse occurs, where all communication cannot be used, we will return to the stone age because no one can use the technology humans invented. We also can't use Bitcoin like now because Bitcoin requires the internet and without the internet, we can't use Bitcoin.

We might go back to traditional currency or maybe we'd go back to the old barter system. It will be a setback for humanity because we will have to start again to build the infrastructure. But I think the government can still use the technology because they might have anticipated the internet apocalypse happening.

But whether it will happen in our time or the future of our grandchildren and great-grandchildren and hopefully, it will be a very long time from happening so we can still find a solution before it happens. And I'm sure scientists are still looking for a way if it happens in our time or our children later so they can anticipate it well.

[Nwada001]

I don't think the internet shutdown of a thing is ever going to happen, and even if it does, it won't take much time for it to get resolved. The world is more technically advanced where there are preparations for unforseen future issues.

But I don't think the internet apocalypse will do a huge damage to the banking system. because we can do banking things manually. because there is physical money we can touch.

This present generation is so attached to internet usage that the banking sector is no exception. If the internet goes down in any way today, the banking sector will also be affected. It will cost them a lot of money to go back to the traditional and local ways of executing transactions and the old-school way of recording. Now data is being backed up in an online cloud, which requires the use of the internet in order to be accessed. Both inter-banking and international transactions will also be affected by the internet shutdown because the internet is needed to send and approve requests for those transactions.
 
Going back to the old ways of going straight to the bank and making a cash withdrawal, which will cost you almost your whole time, where the accountant will have to be opening files upon files just to find your data where it's being recorded,
 
 

[bayudndy]

I have heard and every day we always face different threats in outer space, such as solar storms, asteroid impacts, or accidental being sucked into a black hole,... but reality it only accounts for a small percentage and it is not necessary to exaggerate what will happen to confuse many people. Facing real life on this earth we still have honest issues like the story between the SEC and other crypto projects, so I don't like to speculate too much on the unlikely fantasy as the OP mentioned.

[Kakmakr]

Well, you are wrong by saying it will not impact the traditional Banking system. All client data are stored digitally .. they do not keep records on paper anymore. So they are not going to continue as normal... when the Solar storm hit them.

To protect emergency backup electronics such as a radio or laptop, put them (unplugged) inside a sealed cardboard box, then wrap the box completely with aluminum foil. If only one person does that.. then the Blockchain can survive. We will get advanced warnings before it happens, so a lot of people will be doing this.... to protect their electronic equipment. 

[CryptoHeadlineNews]

However I want to know your idea of what will happen to the bitcoin network if the internet apocalypse happens. when we compare bitcoin to traditional currencies. Is this going to be the disadvantage?
(Please don't mention other consequences here. Just discuss the bitcoin network, price impact, banking system and traditional market.)

This internet apocalypse that is predicted to occur in 2025 by NASA experts, of which likely to be caused by a Solar storm that will have great effects on our Satellite, Internet infrastructure, and oil rigs resulting in being shut down for months, resulting in a worldwide internet shutdown, if such ever happens, it will really affect the global economy, the traditional banking and Bitcoin the most, since bitcoin requires an internet connection, while the old method of banking can be done manually just like you said. But I just wish such never happens, as that will only favour the rich and affect the poor the most.

[Upgrade00]

But I don't think the internet apocalypse will do a huge damage to the banking system. because we can do banking things manually. because there is physical money we can touch. So I don't think this will have a huge impact on the dollar or physical currencies. 

Transactions in fiat is heavily reliant on the internet. Majority of transactions today are made through credit cards, direct mobile transfers and USSD codes. If there was an internet black out the damage will be huge on the banking system.
Even the cash transfers are heavily funded by mobile banking to make the cash available at ATMs and POS stands.

Within a few days there will be such a crisis and more people will begin hoarding the available cash they have a hand.

However I want to know your idea of what will happen to the bitcoin network if the internet apocalypse happens. when we compare bitcoin to traditional currencies. Is this going to be the disadvantage?

It will certainly be a disadvantage. There has been some alternative means of transacting with Bitcoin that have been discussed but none on them can replace regular transfers using the internet to broadcast the transactions.
Maybe at such a time efforts to get an alternative will be intensified, but pending when that happens it will negatively affect price and possible halt all trades.

[CageMabok]

I see news about NASA warning of an internet apocalypse because of the solar storm.

If the internet apocalypse happens no doubt it will severely damage the global communications system. and also all traditional markets will
crash hard. It will also happen to bitcoin. But I don't think the internet apocalypse will do a huge damage to the banking system. because we can do banking things manually. because there is physical money we can touch. So I don't think this will have a huge impact on the dollar or physical currencies. 

However I want to know your idea of what will happen to the bitcoin network if the internet apocalypse happens. when we compare bitcoin to traditional currencies. Is this going to be the disadvantage?
(Please don't mention other consequences here. Just discuss the bitcoin network, price impact, banking system and traditional market.)

I only read this kind of news some time ago and did not really study it thoroughly. But if you want responses from some people here, I can only give my view that the banking sector will also experience difficulties if the internet apocalypse really comes and most people will also experience difficulties because now there are so many people who rely on the internet for their business and in marketing whatever goods they have. So all sectors will experience difficulties if the internet apocalypse really comes as said in the news, although for now I still don't believe in what is said in the news.

[Bananington]

I see news about NASA warning of an internet apocalypse because of the solar storm.

Where did you see the news? It is important to always share links whenever you make reference to a news.

If the internet apocalypse happens no doubt it will severely damage the global communications system. and also all traditional markets will
crash hard. It will also happen to bitcoin. But I don't think the internet apocalypse will do a huge damage to the banking system. because we can do banking things manually. because there is physical money we can touch. So I don't think this will have a huge impact on the dollar or physical currencies. 

The banking institutions also depend on the internet, and they will be affected too but to the same degree as cryptocurrency will.

However I want to know your idea of what will happen to the bitcoin network if the internet apocalypse happens.

It will be affected of course, but this warning about an Internet Apocalypse has been called fake. Nothing like that will happen.

NASA hasn't issued any warnings about an internet apocalypse
The current panic is fueled by a non-existent NASA alert about an imminent "internet apocalypse."

https://www.space.com/sun-solar-storm-internet-apocalypse-debunking

[SirJake]

Well, you are wrong by saying it will not impact the traditional Banking system. All client data are stored digitally .. they do not keep records on paper anymore. So they are not going to continue as normal... when the Solar storm hit them.

I agree with you. it will impact the traditional banking system. It will be closed banks for one or two weeks. all online payment will be shutdown.
but we may be able to do transactions the way of the banking system before the internet was invented.  

[bittraffic]

Well, you are wrong by saying it will not impact the traditional Banking system. All client data are stored digitally .. they do not keep records on paper anymore. So they are not going to continue as normal... when the Solar storm hit them.

I agree with you. it will impact the traditional banking system. It will be closed banks for one or two weeks. all online payment will be shutdown.
but we may be able to do transactions the way of the banking system before the internet was invented.  

How do we verify there is even a solar storm? Seem a very self-fulling forecast in the future where if the government wants to do something they could just lie about it and let the people know it's something only NASA knew.

But are the internet connection under the seas where there are huge cable wires down there connecting all the computers around the world? Sure that storm wouldn't scratch a butt.
https://www.mentalfloss.com/article/60150/10-facts-about-internets-undersea-cables#

[SirJake]

Thanks for sharing this link mate.
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https://www.space.com/sun-solar-storm-internet-apocalypse-debunking
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I saw this news on Twitter. However they were given updated news about it yesterday. I did not see it. Thanks for your responses mates. I am going to close this topic now.