I have some hypothetical questions to #asknostr - coming from someone who grew up in the digital age, but is still learning to use modern technology 😅😆

If the USD collapses and currency/economies around the world are affected, we still have crypto currency. But what happens if the grid also goes down? How does that affect digital currency? Would you have your hands tied unless you had access to internet somehow? Would people still be able to use Starlink and have an internet connection for example?

I’m pretty new to crypto currency, and I’m trying to learn to be more tech savvy, so I’d love it if someone could dumb it down for a #newb

#nostr #nostrnewb #crypto #digitalcurrency #starlink #dollarcollapse #gridcollapse

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We'll have bigger problems if the IT infrastructure goes down. Big companies wont even take cash if their POS (point of sales) system is down. There is no redundancy for a majority of main places. Not enough cash to go around to satisfy the market.

Oh that’s a good point!

If the electrical grid goes down we have larger problems than currency. Water pumps, gas pumps, sewage pumps, ATM's, EV's, ect...

Talk to your nearest conservative prepper buddy, build in redundancy systems for heat, water, and cooking.

At least you'd still be able to send a stranger Bitcoin with a battery powered two-way radio and Morse code. I'll be on channel 17, LOL!

Yeah pretty much everything is screwed. I was just curious about how cryptocurrency would fare in that situation. Living in a camper full time and not living on land I own makes prepping kind of hard. But at the very least, I can acquire knowledge until I have a place to actually build/store things! Haha yeah I’ll have to brush up on my Morse code 🤣

Yeah digital scarcity doesn't solve the fragility of a complex society. It is still important to be prepare, even the bare minimum. Food, water, shelter heat.

Most people don't consider it unless it is to argue against the future of money.

Yeah there are obviously higher priority issues than crypto in that situation. Barter is always an option and requires no currency at all!

Or finding trusting individuals

From what it sounds Bitcoin as a network is very robust compared to even a centralized system. Bitcoin works similarly to how Napster, Bittorrent, or even Starlink is setup. Even if the entire world lost power, Bitcoin would begin to recover as soon as systems came back online. I used Morse code as an example but any internet connection (LTE, fiber, power over internet protocol, wi-fi, satellite, ect...) will do.