Cryptocurrency Q&A
Will bitcoin go to zero if the Internet goes down?
Will bitcoin go to zero if the Internet goes down?
Elena
Mon Sep 09 2024
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5 answers
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Is it possible for the value of Bitcoin to plummet to zero if the Internet experiences widespread disruptions or outages? Could the dependency of Bitcoin on digital networks and online transactions make it vulnerable to such disruptions, potentially leading to a collapse in its value? And what measures, if any, are in place to prevent or mitigate such risks in the cryptocurrency market?
5 answers
Alessandra
Wed Sep 11 2024
The Bitcoin blockchain, as a decentralized ledger, ensures that every transaction is recorded and replicated across multiple computers within the network.
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SamuraiWarrior
Wed Sep 11 2024
This means that even if a particular computer or a group of computers loses access to the Internet, the integrity of the blockchain remains unaffected.
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CryptoMystic
Wed Sep 11 2024
Consequently, Bitcoin's value does not diminish or disappear due to a loss of Internet connectivity, as the blockchain continues to exist and function on other computers.
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KatanaSharp
Wed Sep 11 2024
However, for Bitcoin transactions to take place, the nodes participating in the network must be connected and in communication with each other.
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Nicola
Tue Sep 10 2024
The establishment of a consensus among these nodes is crucial for verifying and processing transactions, ensuring their validity and security.
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