So the Big One Finally Hits

[GhostRider25]

So the day comes that the EMP finally hits and fries a ton of electronics.
How it happens, doesn't matter, carrington, nukes, don't matter, just... it happened.

finally as the grid is re established around the world and the internet is brought back up around the world....

How many Billions of dollars of main crypto do you think is going to be lost due to people not having safe backups of their wallets.  ie metal plate, paper, emp protected storage, etc and they can't recreate the keys to their wallets to re access them?

By main, i mean, major coins,  BTC, LTC, Doge, ETH,  XMR etc that have the largest chunk of the market,  just say the top 10.

How many billions of dollars will just disappear, be orphaned, because it's now irrecoverable?

With that.

Do you have your keys safe on something that can not get erased or burnt up in a fire.

If not, why not?  How much will you lose?

Aaron

[Dr.Bitcoin_Strange]

I believe that those that does not have their keys or phrases backed up in a metal sheet also have a very much secured method that they are using which will never be affected by any kind of natural disasters. Some persons like myself, have a paper backup but it's stored inside a metal box, then kept in different safe locations that can not be affected at once. Already, many people have lost their Bitcoin because they could not recover their wallet keys and that has been a lesson that others have learned from and doing their best in keeping their wallet keys safe.

[Z-tight]

Is this going to be another QC-styled discussion we're going to be having from now on, lol. Now, what are the chances that a big electromagnetic pulse is going to hit all of the earth, while it is not impossible, it is very slim.

finally as the grid is re established around the world and the internet is brought back up around the world....

It wouldn't be as simple as that, and i promise you that you wouldn't worry about your BTC if it happens, but to live through it. We're not just talking about the loss of 'a ton of electronics', but the power grids would go too, so no electricity, and EVERYTHING that's powered through it, no water too and a lot of other things necessary for survival. You'd gladly trade all your BTC's for food, water and power if it ever happens, wouldn't you.

[348Judah]

Do you have your keys safe on something that can not get erased or burnt up in a fire.

If not, why not?  How much will you lose?

Imagine you seeing a bitcoin investor holding is asset on a non-custodial wallet and still can afford to get a secured wallet or take the necessary safety measures over his asset, then what comes to mind is that what will it take him commit to getting what well secure his assets than the risk he stands to take and end up losing everything.

[RGBTC]

How many billions of dollars will just disappear, be orphaned, because it's now irrecoverable?

Bitcoin is not stored within the private key itself, so it doesn't simply disappera. However, if you mean an EMP that simultaneously destroys all electronic devices worldwide (including the all nodes), that is a different story.

The notion of losing billions of dollars irretrievably needs to be qualified, as that could simply refer to a market scenario involving a drop in capitalization.

[Filicius]

Is this going to be another QC-styled discussion we're going to be having from now on, lol. Now, what are the chances that a big electromagnetic pulse is going to hit all of the earth, while it is not impossible, it is very slim.

finally as the grid is re established around the world and the internet is brought back up around the world....

It wouldn't be as simple as that, and i promise you that you wouldn't worry about your BTC if it happens, but to live through it. We're not just talking about the loss of 'a ton of electronics', but the power grids would go too, so no electricity, and EVERYTHING that's powered through it, no water too and a lot of other things necessary for survival. You'd gladly trade all your BTC's for food, water and power if it ever happens, wouldn't you.

That’s exactly what I was thinking while reading the OP: if a nuke ever happens that threaten global peace, my BTC would be something that would worry me comparatively little. Perhaps this is not the case for big holders but if an event with planetary consequences like the ones mentioned happened I don’t think my holdings would make any difference.

[retreat]

It depends on the type of EMP. If it's just a large-scale solar storm, the electronics that get affected are probably the ones connected to the grid. But if it's man-made, like a nuclear, you should worry more about your own safety first. But basically, your Bitcoin is stored on the blockchain, so as long as you have your seed phrase, you can recover it. That's why it's recommended to back up your seed phrase on more durable media and keep it in a safer place, so you can recover it if something happens. But maybe this topic leans a bit toward FUD, so I think there's no need to overreact.

[Majestic-milf]

 So let's face it, such a situation will not happen and instead of bothering about an EMP,  some people should rather focus on being careful and remembering to back up their seed phase cause I tell you that despite talking about the risks of not having a backup and how not to store it on your phone, there are people who will not take the advice and believe that since they are the only ones with passwords to their phones, the phrases are safe.

[Hatchy]

It wouldn't be as simple as that, and i promise you that you wouldn't worry about your BTC if it happens, but to live through it. We're not just talking about the loss of 'a ton of electronics', but the power grids would go too, so no electricity, and EVERYTHING that's powered through it, no water too and a lot of other things necessary for survival. You'd gladly trade all your BTC's for food, water and power if it ever happens, wouldn't you.

We have had many discussions like this in the past, especially about what would happen to Bitcoin if the internet disappeared. To me, these are somewhat unrealistic scenarios to focus our minds on. The chances of such a huge event affecting the world are very slim. And like you said, if something like that ever happened, I don't think anyone would even be worried about their BTC. It would probably be the last thing on your mind while trying to figure out how to survive and get through the situation.

I normally don't like these kinds of discussions because they are difficult to relate to real life experience.

[aoluain]

what are the chances that a big electromagnetic pulse is going to hit all of the earth, while it is not impossible, it is very slim.

Yea I think its slim for sure but if I'm right it would only affect those devices which were
powered on at the time so there would be less damage than people generally think?

I normally don't like these kinds of discussions because they are difficult to relate to real life experience.

I know - its something *alien* to us that this could happen but at the same time its another
reminder to everyone to consider your security and be mindful of what you have done with
your wallet credentials.

But maybe this topic leans a bit toward FUD, so I think there's no need to overreact.

No - as above its a reminder to "expect the unexpected" when it comes to possibly the most
valuable asset you have

[Popkon6]

If not, why not?  How much will you lose?

Now I have kept the seed phrase of the wallet I have in a good and safe place, although I have written it on the paper page of my diary. But I have kept it away from fire and away from water, that is, in a safe place so that it does not get damaged and does not come into the attention of other people who would harm me, because I know that if someone steals the seed phrase of this wallet of mine, I will suffer huge losses. Because all the money I have saved for several years will be wasted,
so I do not want my long-term dream to be ruined due to my negligence. That is why I have kept the seed of my wallet very carefully, not only me, but everyone should keep it carefully.

[Taricoins]

what are the chances that a big electromagnetic pulse is going to hit all of the earth, while it is not impossible, it is very slim.

Yea I think its slim for sure but if I'm right it would only affect those devices which were
powered on at the time so there would be less damage than people generally think?

An EMP will still destroy any electronic and some electrical device regardless of whether it is powered off or not soo, if by some unfortunate phenomenon, an EMP surges the earth or a location, it's all going to get fried, just passing out an information.

And about safeguarding pass keys or phrases, I think we have talked about this a million times [just exaggerating] but still it's good that we get this constant reminders since people can actually learn that things can happen

[bhadz]

Not everyone has this conscious way of keeping their seeds on a specific storage. As long as it's not going to be hit by an emp or any other pulse or waves that will destroy it, I think it's fine if it's kept hidden from that phenomenon.

Do you have your keys safe on something that can not get erased or burnt up in a fire.

I believe so and I think that it won't end the way you're thinking it for this discussion. What's even more scary are those people who have the opportunity to keep it yet, they've done it through their phones and other usual way of keeping it as a mistake.

[Bigjoe33]

An EMP will still destroy any electronic and some electrical device regardless of whether it is powered off or not soo, if by some unfortunate phenomenon, an EMP surges the earth or a location, it's all going to get fried, just passing out an information.

And about safeguarding pass keys or phrases, I think we have talked about this a million times [just exaggerating] but still it's good that we get this constant reminders since people can actually learn that things can happen

No doubts, the unimaginable can happen at anytime. After all, quakes and the likes happen in so many countries unannounced and things really get messy and lives gone.

We don't expect it, neither are we anticipating it, but I think the topic is more of a future security thought, maybe, imaginations that seem too impossible to happen, though we can't rule out completely on anything considering the level the world is going. Though, in such real life scenarios, live would be first, then any other thing can follow, maybe BTC or what else. It's a general call for safety and proper protection of our assets and keys. Remember, not your keys, not your BTC, haha

[Sarah Jordan]

So the day comes that the EMP finally hits and fries a ton of electronics.
How it happens, doesn't matter, carrington, nukes, don't matter, just... it happened.

finally as the grid is re established around the world and the internet is brought back up around the world....

How many Billions of dollars of main crypto do you think is going to be lost due to people not having safe backups of their wallets.  ie metal plate, paper, emp protected storage, etc and they can't recreate the keys to their wallets to re access them?

By main, i mean, major coins,  BTC, LTC, Doge, ETH,  XMR etc that have the largest chunk of the market,  just say the top 10.

How many billions of dollars will just disappear, be orphaned, because it's now irrecoverable?

With that.

Do you have your keys safe on something that can not get erased or burnt up in a fire.

If not, why not?  How much will you lose?

Aaron

It is very difficult to protect ourselves fully from disasters that can destroy our home and also destroy where we may have kept the seed phrase from getting damaged or seen by someone else.

If war happens, it will be very difficult to make sure that our wallet seed is easily accessible if the electronic device gets damaged and the fire engulf the location where our wallet seed was kept. Having a metal backup for seed phrases does not guarantee easy retrieval in fire cases.

[Alphakilo]

An EMP will still destroy any electronic and some electrical device regardless of whether it is powered off or not soo, if by some unfortunate phenomenon, an EMP surges the earth or a location, it's all going to get fried, just passing out an information.

And about safeguarding pass keys or phrases, I think we have talked about this a million times [just exaggerating] but still it's good that we get this constant reminders since people can actually learn that things can happen

No doubts, the unimaginable can happen at anytime. After all, quakes and the likes happen in so many countries unannounced and things really get messy and lives gone.

We don't expect it, neither are we anticipating it, but I think the topic is more of a future security thought, maybe, imaginations that seem too impossible to happen, though we can't rule out completely on anything considering the level the world is going. Though, in such real life scenarios, live would be first, then any other thing can follow, maybe BTC or what else. It's a general call for safety and proper protection of our assets and keys. Remember, not your keys, not your BTC, haha

I read a story here about how flood affected a Bitcoin investors device and that means he lost the seed phrase to access his custody wallet. It was saved as a screenshot as it happened and even though it was written on paper and kept safely in his home, it would have been lost, but the device that was affected by water can still be recovered with proper and professional help.
Still, it is important to foresee these kind of disasters as something that can happen anytime and choose more than just a way to secure our seed phrases Incase of loss that is unexpected.
A backup of a backup is advised mostly when our holdings are becoming substantial enough and that's just why self custody is a serious business for any investor who has accumulated enough crypto currency over the years.

[osasshem]

In terms of safe guarding your keys, the EMP will not affect those stored on papers or steel sheet, and if the keys are safely stored when things destabilise you can simply access your holdings again. On the other hand it will cause a higher damage to other economic matters and health issues too. Things like water, power supply may also be affected etc.

[PrivacyG]

How many Billions of dollars of main crypto do you think is going to be lost due to people not having safe backups of their wallets.  ie metal plate, paper, emp protected storage, etc and they can't recreate the keys to their wallets to re access them?

How many billions of dollars will just disappear, be orphaned, because it's now irrecoverable?

Trillions.  Not Billions.  Because it would affect so many things you could pretty much say most Bitcoin holders will not even feel the Bitcoin damage.

Now if you want to talk about a nuclear disaster.  Then Bitcoin, Fiat, Gold is clearly the LEAST concerns you should have.

[Hamza2424]

Hmm, I never thought of this. I know what EMPs are and how effective they can be. But with them around us all over the world, which is a problem itself because they need mass scale EMPs for this, but if they can really do something like this, then all the connected devices, like the ones working, can be damaged permanently, although recovering data from the storage devices can still be feasible, but not sure.

I searched and found flash drives and CDs can have a better shot, but there is no guarantee for them either.

But it's not a protocol flaw, it's us. We have to secure our phrases in better places. We should write them down on a page and store it somewhere safe, but if you are living in a third world country, then never store them in a locker.