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originally posted by: kwakakev
a reply to: CthruU
If civil war breaks out Bitcoin is a safe bet. There are many servers around the world backing up this system. When the lights eventually come back on so will your credit as long as you still have your wallet and keys.
Holding your wallet is a problem, if you have it on a laptop that gets microwaved you are broke. If you have it stored on a server that gets hacked you are broke. If you have a good backup program in place you have a chance.
If civil war breaks out then your paper money is broke as well.
When on the internet Bitcoin works, heaps easier moving a few digits around the world than a ton of gold. It is a trusted system at the pointy end of a hackers honeypot.
What about international war and that dreaded EMP?
originally posted by: CthruU
a reply to: GBP/JPY
What happens to investors of bitcoin if war breaks out? That is to say if an EMP attack takes place effectively switching of the internet ?
Or
Civil war breaks out and the DS shut down the internet to stop communication between civilians who want to organize uprisings etc, or any other reason the net might go down for extended periods of time.
Are you prepared to personally back your advice ?
Any investment in Internet based currency is risky in the current world climate at the moment in my opinion.
originally posted by: CthruU
a reply to: GBP/JPY
What happens to investors of bitcoin if war breaks out? That is to say if an EMP attack takes place effectively switching of the internet ?
Or
Civil war breaks out and the DS shut down the internet to stop communication between civilians who want to organize uprisings etc, or any other reason the net might go down for extended periods of time.
Are you prepared to personally back your advice ?
Any investment in Internet based currency is risky in the current world climate at the moment in my opinion.
originally posted by: eXia7
I am now minting cardboard coins and currency, act now! Buy low, sell high!
What we need is like 576 more variations of a currency and we'll be set, the dollar better check itself.