How Bitcoin can go to $0 if the internet shuts down.
► Where I Buy Bitcoin: https://gemini.sjv.io/1E3dz
► My Stock Portfolio + Stock Tracker: https://www.patreon.com/andreijikh
► Get 2 FREE stocks valued up to $1850 (when you deposit $100): https://act.webull.com/kol-us/share.html?hl=en&inviteCode=QhhB1aDNwEDP
► MY DISCORD: https://discord.gg/9TVPxj73Bb
► Open A Roth IRA: https://m1finance.8bxp97.net/c/1980551/696710/10646
► Follow Me On Instagram: https://www.instagram.com/andreijikh/
► How I Protect My Bitcoin: https://shop.ledger.com/pages/ledger-nano-x?r=535643c13ab0
My PO Box:
Andrei Jikh
4132 S. Rainbow Blvd # 270
Las Vegas, NV 89103
What would happen to financial markets – specifically crypto markets if the internet shut down? Would it go to $0? Let’s talk about it.
HOW WOULD THE INTERNET SHUT DOWN?
A solar flare with a powerful CME (Coronal Mass Ejection)
WHAT IS A CORONAL MASS EJECTION?
In contrast to a solar flare, a coronal mass ejection is a superstorm of ultra charged plasma that creates geomagnetically induced currents that could affect the Earth’s crust and temporarily shutting down all power.
WHAT WOULD HAPPEN TO FINANCIAL MARKETS?
If a CME hit us that would mean a disruption to our electrical grid which would potentially cause a worldwide blackout which would also affect satellites in outer space. This means navigation systems would stop working, we wouldn’t be able to call people or use social media, our computers wouldn’t turn on, gas stations, and pretty much anything that uses credit cards – including banks – would stop working for a period of time. Airplanes wouldn’t be able to take off and that means no more traveling and arguably the worst consequence is health because hospitals need electricity to run. All of this to say, the financial markets would not be the top priority.
WOULD THIS BE THE END OF BITCOIN?
Bitcoin needs the internet because it relies on miners to run its ledger which is an online record of every single transaction that has ever taken place. There are currently about 11,000 nodes running on the network.
A node is someone who stores the Bitcoin ledger. Every miner is a node, but not every node is a miner. As long as 1 miner survives, Bitcoin will too. But if a global event like that happened, Bitcoin’s price would nosedive, people would lose all faith and all hope in the system, a lot of people would run for the exit and Bitcoin would be left with a choice. Continue mining, or destroy itself.
WOULD BITCOIN GO TO $0?
If there is only 1 miner left – they would have 100% control of the network and that’s never happened before except one other time – when Satoshi Nakomoto created Bitcoin.
If only 1 miner is left interesting things begin to happen because Bitcoin was designed to adjust its difficulty depending on the hash rate. If the hash rate decreases, the difficulty to mine Bitcoin would also decrease which means the lonely miner would have a lot of incentive to keep Bitcoin alive.
BUT WHAT IF EVERY COMPUTER GOES DOWN AT THE SAME TIME?
The financial markets would shut down and trading across the world would stop.
In 1858 two steam-powered battleships met in the middle of the ocean to link a 2,500 mile long cable bringing the North American and European continents together so we could telegraph each other.
The first message we sent took over 17 hours to arrive. Today there are over 380 of these cables underneath the ocean spanning over 745,000 miles. That’s our internet and it connects our continents together which means if a CME causes a large enough disruption – it could damage those cables.
NOTE: Even though fiber optic cables are not affected by Geomagnetically Induced Currents – because the cables are so long, we installed repeaters at certain intervals to amplify their signal – and the repeaters are susceptible to disruption which could cause an entire cable connecting two continents to fail.
WHAT ARE THE CHANCES OF THIS HAPPENING?
According to the Proceedings of the National Academy of Sciences the odds of another Carrington magnitude event like the one that happened in 1859 happens once every 150 years or so. The last time a Carrington class event happened was in 2012 and fortunately it missed us by just 9 days.
HOW MUCH WOULD IT COST TO FIX?
It is estimated to cost the economy 2 trillion dollars.
HOW DO I PREPARE IN CASE IT HAPPENS?
Watch the video, enjoy!
*None of this is meant to be construed as investment advice, it’s for entertainment purposes only. Links above include affiliate commission or referrals. I’m part of an affiliate network and I receive compensation from partnering websites. The video is accurate as of the posting date but may not be accurate in the future.
source
I'm not here to preach to the choir and tell you why Bitcoin is awesome – I want to convince non believers by testing people's worst fears against it which is why I titled it the way I did (so people can learn something new).
If it goes to $0, nothing of value will be lost.
Still not $0
What you say is true. But in this case, you won't be concerned about finances. You'll be too busy trying to stay alive. Cash would be used for awhile, but if this is a permanent scenario, people would quickly abandon cash and revert to bartering.
Card triangle!! Illuminati confirmed 🤣
10:39
"probably would never happen" famous last words xD
I can understand why Youtubers would be more concerned about the internet going dark than they would be about blockchain going to zero. 🤣
Bitcoin will die if everything dies…
Nice work Andrel.
I can't wait then I'll buy at zero. I will always be a bitcoin Ape.
Dude, you ledger stores your private keys not your coins.
Interesting scenario, I've got one that's even more possible.
The price of energy skyrockets to a point that it becomes unprofitable to mine Bitcoin. If it ceases to be mined, it will cease to exist.
Jikh my man these are fairy tales
Thank You , YouTube for recommending this video right after bitcoin crash …
I find myself so fortunate to have such a wonderful good miner like you. Thanks a ton sir.
I find myself so fortunate to have such a wonderful good miner like you. Thanks a ton sir.
To be honest, when I started the project I wasn't sure we could pull this off but you certainly did it and did it well the mining ring you sold out to me work perfectly for me thanks sir ,
To be honest, when I started the project I wasn't sure we could pull this off but you certainly did it and did it well the mining ring you sold out to me work perfectly for me thanks sir ,
My infinity gratitude to you for doing the impossible, you know I was trying for so long so that I could complete the task you did that for me and I want to thank you for everything you’re simply the best 👍
My infinity gratitude to you for doing the impossible, you know I was trying for so long so that I could complete the task you did that for me and I want to thank you for everything you’re simply the best 👍
It was actually an honor give him👆🏼👆🏼 the opportunity to prove how good he his!!!. This guys competency is unquestionable
It was actually an honor give him👆🏼👆🏼 the opportunity to prove how good he his!!!. This guys competency is unquestionable
AM GLAD TO SAY I NEVER REGRETTED WORKING WITH this guys⬆️ WOW! I feel entitled to people who talked about them
AM GLAD TO SAY I NEVER REGRETTED WORKING WITH this guys⬆️ WOW! I feel entitled to people who talked about them
Bitcoin is the future, wake up guys and start investing now!
I thought you would mention that time bitcoin went to 1 cents 10years ago or so
i got "hi, mickhael here" vibes
anything is possible, oil went to zero in 2020
Those card tricks! Wow!
10:39 who else laughed!?🤣
Le Voyage dans la Lune!!!
We had a plan for 2019. A pandemic response team, but trump disbanded it.
cash is king
I just don't invest into Bitcoin cause it not worth wasting money
OKAY FINE. I resubbed 🔥
Am I the only one who sees the Tesla symbol within the broken Bitcoin in the thumbnail? 😂😱
Andrei, what have you been smoking? You've scared the life out of me now haha!
Bitcoin going to zero?! At this time of year at this time of the day? At this part of the country? Localized exclusively in your kitchen.
the only thing you can invest in at the very end is guns and ammo.
PNAS ……..(tries not to laugh)😁
What the flip was a scientist doing staring at the Sun 🤣🤣🤣
Bkgrd music annoying
The best edited video you made so far super high quality Andrei love your content thx for insights every day 🙂
No more tik tok not a bad trade 🤔
Start Investing beyond Assumptions … Pamvest gives you extra edge in the financial Market
If that happened I wouldn’t be worried about my Bitcoin 😂
Very good video. You are excellent at telling stories along with your financial advice. This one was really interesting.
A warning mechanism is the most profitable and best way to prevent what you said from happening. There is the Solar Orbiter that right now is inside the atmosphere of the Sun. With the purpose to study solar flares and coronal mass ejections. We are to dependent on technology, we should, as society, prevent events like these from turning back to middle ages.
Would a Faraday cage protect data in case of a super massive solar flare?