Hi folks,
I am very new to bitcoin and cryptocurrencies. I am trying to understand how they work.
What happens to bitcoins and other cryptocurrencies if the internet goes down?
Here is an article from the Washington Post which explains that Russian submarines have been spending a lot of time near the underground cables that carry our internet services. https://www.washingtonpost.com/world/eu ... 44b866b468 The Russians could cut those cables and then we could have no internet, or greatly curtailed internet, as far as I can tell. It seems to me that this whole cryptocurrency thing - and all of the investors' wealth which is tied up in bitcoin and other cryptocurrencies - could just disappear overnight if someone cut those cables or if our wonderful (not) government declared an "emergency" and cut off the internet, as they have done on some countries.
Does anyone know about this?
Regards,
Vincent