Will bitcoin be affected if the internet gets disrupted?

[Cryptohygenic]

I recently made comment on a Thread by @NotATether and it actually made me had a deep thought on what really the fate of bitcoin would be without the internet because we are know that we’re in a world of possibilities and anything(absolutely) can be possible and what if maybe there was a global shutdown on the internet m, what will happen to bitcoin ?

My question was born out of curiosity and I’m not actually inclined on the technicalities of bitcoin and I just want to know the fate of bitcoin if there was no internet for maybe 24 hours

Bitcoin is as a digital currency that networks on p2p transaction through the plant of the internet so, if there is no internet, so also there will be no bitcoin but whenever the internet is restored, so also bitcoin will be restored.
So literally bitcoin is an electronic currency that can only be determined to be accessed and in used by the internet.

[EarnOnVictor]

-snip-
My question was born out of curiosity and I’m not actually inclined on the technicalities of bitcoin and I just want to know the fate of bitcoin if there was no internet for maybe 24 hours

This is not new to me, what do you expect with anything that is reliant on the internet? Bitcoin is not perfect and this is another evidence of that. But it's a very good development and of course in this modern day, which financial service can be successful without the Internet? So this is not peculiar to Bitcoin. In fiat arrangements, they might try to use physical assets during times like that, but can that serve the global population anymore? This is especially true when we are already cashless and heavily reliant on digital financial transactions and services

You can imagine what recently happened with the global IT issue, a lot of operations and services had to stop, including several flight delays. Let's just pray that we do not have a general global internet outage, which is more reason why the world is not depending on a single source for the internet.

[MainIbem]

If the Internet is shutdown globally, if would affect everything in general. Basically, everything involving technology is connected to the Internet and the Bitcoin blockchain is not excluded, people can't access their business, gadgets, hospitals might stop functioning properly in terms of keeping records of patients, infact it would cause havoc and even affect the social media which is like a bridge connecting people's businesses online and so forth, well I don't think it's possible for the Internet to shutdown entirely cause it could mean the end of the world so It could only be on a temporary basis due to a glitch in network but the Bitcoin in people's wallet would be safe just that traders won't be able to access various exchanges and people won't be able to access the Internet to transact with it's Bitcoin blockchain.

[CryptoBuds]

My question was born out of curiosity and I’m not actually inclined on the technicalities of bitcoin and I just want to know the fate of bitcoin if there was no internet for maybe 24 hours

Simply no one would be able to do any kind of transactions in or out of bitcoin. In the 24 hours of no internet, I can imagine that the value of bitcoin will remain the same as I have said no one can buy or sell bitcoin. However it is possible that as soon as the internet is back, people take out their bitcoins in fear and anxiety of losing their money. The market may experience a huge crash after the internet is back but most likely the world will be suffering from all kinds of consequences not just bitcoin.

Personally, I don't think there will be any major panic and crash because this is a global incident and almost every sector will be affected, not just bitcoin. If bitcoin has a huge crash, I believe other financial markets such as stocks will be even more serious. But honestly, I don't believe this scenario can happen because the importance of the Internet today is no different than the backbone and lifeblood of the world. Internet and electricity are an indispensable part of the modern world in which we live, if either of those two things disappear, our world will be destroyed.

[Obari]

I recently made comment on a Thread by @NotATether and it actually made me had a deep thought on what really the fate of bitcoin would be without the internet because we are know that we’re in a world of possibilities and anything(absolutely) can be possible and what if maybe there was a global shutdown on the internet m, what will happen to bitcoin ?

My question was born out of curiosity and I’m not actually inclined on the technicalities of bitcoin and I just want to know the fate of bitcoin if there was no internet for maybe 24 hours

You had to put [/url] between Thread and [/b], like this - Thread[/url][/b]. I edited your quote and you can edit your first post according to it.

If the internet gets disrupted, Bitcoin will be affected because Bitcoin is a virtual currency and the internet for it is like oxygen for us, humans. If the internet gets disrupted, we won't be able to use Bitcoin until it gets back normally. It's possible to make offline transactions but we need on-chain confirmations that require internet. Not only Bitcoin but if the internet gets disrupted, the only thing that won't be affected will be cash. Everything else will become completely useless until the internet comes back. That's why I am against CBDCs and internet money, it will be enslavement, we need cash.

Thank you for calling my attention to the correction.
I’m not actually getting your point right as you said you’re against internet money and I’m wondering if you’re also against bitcoin as it is also some sort of internet money ?
Just asking out of curiosity
And my first question was also born out of wild thoughts after reading the thread by @NotATether and I was wondering the possibilities and since it already seems impossible to not have internet globally at once but let’s still ride a little more in wonder land.

I’ve seen all responses and I always get a lot of joy when reading responses of users on a particular subject matter and I’ve actually come to understand more better that we all have different opinions on a particular subject matter and that’s one thing that makes the world a very unique place.

[maydna]

Anything can happens if internet shutdown in many places. We can not use internet as usual and will be like in an old time before internet invented. Bitcoin can not be used for temporary waiting internet connection back to normal. While we can makes ourselves busy doing many things before we can use internet again. We don't know how will be the fate of Bitcoin in the future because we will not live forever and there still possibility to people in the future to experience that. But people will still be safe because they can live normally even without internet among them. Perhaps young generation will not accept the situation because they lived in the internet era.

[tottong]

I recently made comment on a Thread by @NotATether and it actually made me had a deep thought on what really the fate of bitcoin would be without the internet because we are know that we’re in a world of possibilities and anything(absolutely) can be possible and what if maybe there was a global shutdown on the internet m, what will happen to bitcoin ?

My question was born out of curiosity and I’m not actually inclined on the technicalities of bitcoin and I just want to know the fate of bitcoin if there was no internet for maybe 24 hours

If the internet experiences an indefinite blackout then I'm sure it will affect Bitcoin, but if the internet blackout is temporary it won't affect Bitcoin any further.
Assuming that an internet outage will occur for 1x24 hours, the market will experience pressure which will cause panic. If some countries can still access it, I am sure panic will continue because people think there is a serious problem that will occur.

Some people who understand this will definitely look for solutions such as radio waves or satellites, but this is complicated for some people who don't understand.
But with technological developments that all require the internet, there may not be an internet blackout because there are many losses that will be felt by anyone.

[_BlackStar]

Anything can happens if internet shutdown in many places. We can not use internet as usual and will be like in an old time before internet invented. Bitcoin can not be used for temporary waiting internet connection back to normal. While we can makes ourselves busy doing many things before we can use internet again. We don't know how will be the fate of Bitcoin in the future because we will not live forever and there still possibility to people in the future to experience that. But people will still be safe because they can live normally even without internet among them. Perhaps young generation will not accept the situation because they lived in the internet era.

When the internet down all over the world - then bitcoin transactions will definitely be disrupted. The big impact was the loss of bitcoin prices due to a truly massive panic - it was inevitable. This is why it is recommended that one should not invest all his money in bitcoin without considering many things - including the consequences of a simultaneous internet outage throughout the world. We never know whether such a case will happen - but before it does, consider all possible risks.

Transaction will return to normal when the internet return – but the market has been impacted by the massive sell-off. Additionally - there are more risks to consider when you become a bitcoin investor, so sometimes asset diversification is important.

[Natalim]

If the Internet is shutdown globally, if would affect everything in general. Basically, everything involving technology is connected to the Internet and the Bitcoin blockchain is not excluded, people can't access their business, gadgets, hospitals might stop functioning properly in terms of keeping records of patients, infact it would cause havoc and even affect the social media which is like a bridge connecting people's businesses online and so forth, well I don't think it's possible for the Internet to shutdown entirely cause it could mean the end of the world so It could only be on a temporary basis due to a glitch in network but the Bitcoin in people's wallet would be safe just that traders won't be able to access various exchanges and people won't be able to access the Internet to transact with it's Bitcoin blockchain.

If there’s a global internet blackout, bitcoin will never be seen functioning properly but everything will be put on hold, just like all other internet powered devices will no longer put into action but will remain standstill and will only be back into normal once the internet regains its connection. So it’s clear that bitcoin will be highly affected without internet connectivity as well as all cryptocurrencies.

However, so far this has never happened globally, but only seconds or minutes and then the internet connection is back again. And thinking that a lot will be affected aside from bitcoin, I guess the whole network will never allow this to happen.

[nakamura12]

When the internet is down then all crypto transactions which includes bitcoin will stop until the internet is restored. I think that nothing will happen to bitcoin that you own that is stored in a non-custodial wallet that you are using but since the supply and demand didn't change then there will be a panic which will make people who owns Bitcoin sell their assets due to panic when the internet is restored. If I have bitcoin and after the internet is restored then I'd definitely sell more than half and keep the rest while waiting for news and updates so if the price will decrease a lot then it's a chance to buy more bitcoin that will cost you less means you'll have more btc than before.

[m2017]

If the Internet is lost in 24 hours, the world has many bigger problems than Bitcoin.

Absolutely so. At that moment, the world will be the last to pay attention to the “pause” in the BTC-network, because the focus of the attention of all humanity will be directed to solving completely different problems that have arisen.

But if the Internet connection loss is only temporary, 24 hours, 48 hours or 72 hours but will resume, Bitcoin blockchain will continue after that. Meanwhile, people can not do bank transfers too if they don't use Satellite Internet from SpaceX company.

A failure in the Internet (terrestrial) will create a temporary problem or “pause” for bitcoin, but the orbital Internet could act as an alternative backup. Although, theoretically, even satellite Internet is not invulnerable to problems and failures.

Your bitcoin in your non custodial wallet will still be your bitcoin.

In the absence of the Internet, it will be possible to pay immediately with these same wallets with bitcoin (transmit seed phrases), but what the exchange rate will be in the conditions of a (long-term) absence of the Internet is already a mystery.

Only you can access it with private keys and Internet connection availability or loss won't cause you any loss of your bitcoin.

It won’t lead to loss, but what to do with it in a potential post-apocalypse (when there is no Internet) and will it be possible to live until these bitcoin needed and it will be possible to make transactions again.

This is the kind of comic nitpicking.

Your transaction only gets confirmation if Bitcoin miners and nodes work so Internet connection is a prerequisite.

Therefore, it turns out that bitcoin (attention, electronic digital money) ceases to perform its functions during the absence of the Internet, which actually makes it a useless thing.

[Marykeller]

When we think about the future of bitcoin on the internet, we should also think about other things whose existence depends on the internet.

If the internet is disrupted globally, everything will stop functioning, and there will be complete disarray everywhere that the world governing body will be forced to fix because there's no medium of communication between people. People can't reach out to one another fast and simple way as they are used to.

That being said, the Internet is like water the whole world survives on. Taking it out means that you have taken away so many things from the world. We need it in our daily lives

[LDL]

I recently made comment on a Thread by @NotATether and it actually made me had a deep thought on what really the fate of bitcoin would be without the internet because we are know that we’re in a world of possibilities and anything(absolutely) can be possible and what if maybe there was a global shutdown on the internet m, what will happen to bitcoin ?

My question was born out of curiosity and I’m not actually inclined on the technicalities of bitcoin and I just want to know the fate of bitcoin if there was no internet for maybe 24 hours

Internet is an important contribution in today's civilization without which one cannot imagine a day. I have felt difficult how important the internet is now because the government in my country anti-Bangladesh movement has kept the internet off in the whole country for a week due to which our entire economic system has suffered huge losses. My country has made losses only from the freelancer sector like 3 thousand crore rupees per day. It is not possible to imagine a day without internet because I felt very helpless without internet. Without the Internet, the whole world is immobile, as well as the Internet has a very important impact on Bitcoin. Bitcoin will not be important if Bitcoin cannot be traded and Bitcoin will become an unimportant currency.

[Adams0001]

When the internet is down then all crypto transactions which includes bitcoin will stop until the internet is restored. I think that nothing will happen to bitcoin that you own that is stored in a non-custodial wallet that you are using but since the supply and demand didn't change then there will be a panic which will make people who owns Bitcoin sell their assets due to panic when the internet is restored. If I have bitcoin and after the internet is restored then I'd definitely sell more than half and keep the rest while waiting for news and updates so if the price will decrease a lot then it's a chance to buy more bitcoin that will cost you less means you'll have more btc than before.

Without a network, internet businesses and investments will not function since they are interconnected. Without a network, there will be no exchange that allows you to acquire bitcoin and invest for the long term. So the network is really vital to the word because without it, no technology can function and no one can hear about what is going on. Bitcoin is accessible online, but if the network is down, it will not function. Nothing will happen to bitcoin when the network is disrupted, but he will not receive value and will simply remain without doing transactions because the network that allows it to function is not performing well. Most businesses advertise online so that people know about products they are selling and if network is not working I don't think business will continue going well. is because of network that why many people no about bitcoin and investing for long term and they are profitable on it. So bitcoin won't be affected but you can't get access to it anymore if they is no network on it.

[Maslate]

If the world temporarily lost the internet, probably nothing too serious would happen to bitcoin, but if the internet suddenly stopped working for a long time or disappeared, that would mean bitcoin would no longer exist. But the internet is like water in our world, without water the world will perish and if the internet is lost the world will stop developing and return to the stone age. So this scenario will never happen so you don't need to worry and think too much about this issue.

I can't think of any scenario in which the Internet could disappear from the world, even World War III wouldn't make it disappear. Unless we encounter the destruction of the earth like the time of the dinosaurs.

Exactly it is. Where there is no internet occurrence, bitcoin will no longer continue its existence. Not only that, but the whole cryptocurrency space will never be functioning anymore since everything on it only are solely operated by internet, without it, they’ll end up dead and valueless. But I really think this is never gonna happen at all, because we will lose not only bitcoin, but everything here on earth that only live through the help of internet connection.

[serjent05]

It will cause short term dump.

People will choose to withdraw everything that require internet connection e.g. cash in banks, digital fiat, stock, gold's IOU, Bitcoin, altcoins etc. This is a good time to buy Bitcoin at the dip since internet connection will not completely disappear, most people already gets addicted with digitalization.

As long as you hold your coins in non custodial wallet, you don't need to afraid since you will not lose your coins.

How can it cause a short-term dump?  When people decide to cash out everything just to get their online funds out?  It will cause a massive crash, IMO.  Since people as you stated lost faith in the internet, they will avoid anything that requires it as plague.  That is if people panic and lost its trust in the internet connection.

But in reality, I do not think that the internet disruption will cause any negative effect on Bitcoin since the problem does not lie in the Bitcoin network but in the internet.  The disruption of the internet for 24 hours will surely make companies around the globe lose billions to trillions of dollars but I do not think Bitcoin price will be greatly affected.  Bitcoin transaction might freeze or pause until the internet connection issue is solved the next day and I think the Bitcoin trade will continue normally.

Internet permanently shutting down is another story.  Obviously, all the online activities that requires the internet will cease to exist and the Bitcoin activity is not an exemption.

[maydna]

~snip~

When the internet down all over the world - then bitcoin transactions will definitely be disrupted. The big impact was the loss of bitcoin prices due to a truly massive panic - it was inevitable. This is why it is recommended that one should not invest all his money in bitcoin without considering many things - including the consequences of a simultaneous internet outage throughout the world. We never know whether such a case will happen - but before it does, consider all possible risks.

Transaction will return to normal when the internet return – but the market has been impacted by the massive sell-off. Additionally - there are more risks to consider when you become a bitcoin investor, so sometimes asset diversification is important.

The loss of Bitcoin prices will makes massive panic in everywhere, that is the biggest impact that we can see. The Bitcoin transaction will stuck for temporary until everything is back normal. But if we can stay calm and not panic, we may have a chance to see a good chance to buy Bitcoin when the situation is normal because the price will be at the lowest price that we can not imagine. Yes, we must calculates how much money we should use to invest in Bitcoin and only use the money we can afford is the best advice for us.

We will not knows what will happens to Bitcoin after the situation is back to normal. Perhaps the price will stay at the lowest price and difficult to increase or Bitcoin price will directly surging to the highest price. One thing that we must do is not panic and stay calm.

[davis196]

I recently made comment on a Thread by @NotATether and it actually made me had a deep thought on what really the fate of bitcoin would be without the internet because we are know that we’re in a world of possibilities and anything(absolutely) can be possible and what if maybe there was a global shutdown on the internet m, what will happen to bitcoin ?

My question was born out of curiosity and I’m not actually inclined on the technicalities of bitcoin and I just want to know the fate of bitcoin if there was no internet for maybe 24 hours

The entire internet stops for 24 hours, which means all crypto exchange platforms stop working. Nobody is buying and selling BTC for a while.
The internet starts working again and everything gets back to normal. No big deal. I don't know why many people keep asking this question.
The destruction of the electricity grid would probably be a way bigger problem for Bitcoin/crypto, but with the adoption of solar panels and batteries, many crypto miners are becoming more and more independent from the grid.
The idea that the global internet would stop working for a given time frame seems absurd to me. Maybe the internet could stop in a certain region, but it definitely cannot shut down at a global scale(unless Armageddon is happening).

[CryptoHeadlineNews]

and what if maybe there was a global shutdown on the internet m, what will happen to bitcoin ?

This is one scenario I am very sure can never happen, the global internet connection is not like pandemic that could be generally affected at once in the entire world, because if you meant a country, then the likelihood of such scenario is very possible, unlike when it refers to global community. Because just as the internet connection is been controlled by the Space Satellite, of which if one is likely to have had an issue,  it's likely to have been fixed before 48hrs,  because if the Internet goes offline just 1 hour, I'm sure more than 10 Trillion dollars will be lost, since many sectors depend on it, both Bitcoin mining, aviation industry and social media giants such as Facebook and YouTube.

and I just want to know the fate of bitcoin if there was no internet for maybe 24 hours

The existence of Bitcoin is vested in the smooth running of Internet connection, which if there is not internet, then there will definitely be no Bitcoin, just the same way there will be no social media and many other one million companies whose services rely on the Internet

[Smack That Ace]

The idea that the global internet would stop working for a given time frame seems absurd to me. Maybe the internet could stop in a certain region, but it definitely cannot shut down at a global scale(unless Armageddon is happening).

Everyone should know this, unless we are attacked by aliens with better technology or the apocalypse hits...that would be the scenario where the internet would disappear. Also, I don't think there's anything that could cause the Internet to go down globally because we have millions of different providers around the world...We don't just depend on one company or one organization to get the internet.

CrowdStrike is just a cybersecurity company, they do not represent anything for the internet system worldwide, their incident is not a sign for us to worry that the internet may also have problems like this.
If I were worried, I would worry about whether bitcoin will have problems in the future instead of thinking that the world's Internet will have problems.