What will happen to the value of bitcoin in the immediate aftermath of an internet "take-down?" I assume that it will be temporary, but wouldn't this cause the comparative price of bitcoin be adversely affected due to the panic?
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1What is an "internet take-down"?– Greg HewgillCommented May 3, 2016 at 3:33
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SHTF situation. Take-down by government(s). Ive seen plenty of people claiming that there will always be some sort of network available to facilitate spending bitcoin, but the only thing that maintains its value is faith. If a SHTF event were to take place, I'm betting that many people might be inclined to devalue bitcoin because of this one vulnerability.– jawnee logikCommented May 3, 2016 at 3:38
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I am not a "true believer" (yet), but I am thinking of investing in bitcoin as a hedge against bank bail-ins. However, if things get bad enough, and even if the government/banks can't get to them, my bitcoins could lose value .– jawnee logikCommented May 3, 2016 at 3:44
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1I'm voting to close this question as it calls for speculation. Nobody can predict how the price of Bitcoin would react to everyday events, much less completely hypothetical situations.– Nate EldredgeCommented May 3, 2016 at 4:53
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A better question might be "how could governments take down Bitcoin?". As it is, your question is vague on the specifics of the scenario, and treads the line of price speculation. People don't understand the situation you are asking about, and price speculation is not what this forum is for.– JestinCommented May 3, 2016 at 15:21
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1 Answer
Of course, assuming you could actually pull it off (which is near impossible at this point, but assume you could) but also keep in mind that bitcoin doesn't actually need the internet to continue working.
In all honesty though, bitcoin's market price would be the least of our worries in the event of a total internet shut-down.
