Originally posted by SilentKoala
reply to post by azureskys
Same difference. It would utterly destroy society's ability to operate in the place where it is down. The problem with an EMP is that smaller
microelectronics get permanently destroyed due to the rapidly changing magnetic flux which induces excessive current in the electronic components, so
it would not just be like a temporary power-outage. Much of our technological infrastructure would have to be rebuilt from scratch. Society can't
operate for very long without the grid, whether it has bitcoin or not. You'll be limited to the physical cash in your pocket and whatever supplies
the nearby store has until it runs out.
You could put your Bitcoin Wallet on a thumb-drive and stick
in an old microwave oven (which functions as a Faraday cage)
and then "wait for our technological infrastructure to rebuilt
from scratch" (AS YOU SAID)... but while civilization rapidly
deteriorates into chaos, the worst is yet to come.
Consider this, there are 440 nuclear power plants in the world
(and about 700 if you count all research reactors) that all need to
be keep from complete meltdown or it would the end of humanity.
...the world's nuclear power plants, as they are currently designed, are critically dependent upon maintaining connection to a functioning electrical
grid, for all but relatively short periods of electrical blackouts, in order to keep their reactor cores continuously cooled so as to avoid
catastrophic reactor core meltdowns and fires in storage ponds for spent fuel rods.
Nuclear reactors while running normally, are in a state of controlled
meltdown as they heat water into steam which turns turbines that
produce electricity. The only thing saving us from disaster is the
constant supply of fresh cool water that keep the rods from melting
down. The flow of water requires electricity and pumps, and working
electronic systems to control them. If these systems are damaged,
or the electricity is OFF, well, remember Fukushima?? Now think
about F-U-Sheema multiplied by a factor of 700.
Get the picture? the lights going out would create almost incalculable
suffering, death and environmental destruction on a scale not seen since
the extinction of the dinosaurs some 65 million years ago.
This would be E.L.E. (Extinction Level Event)
but the that USB drive in your microwave oven will survive the Apocalypse...
humanity will not =(