I don't care about gains or anything, the only reason I put my money into crypto was to have a hedge against government because you never know what they gonna come up with.
After recent events in Iran I realized that they can just turn off the internet and you loose access to your wallet, unless there is some way to bypass that but I haven't heard about anything like that.
What do you think ?
The reason I invested in crypto just collapsed
byu/OnionTaster inBitcoinBeginners
Posted by OnionTaster
9 Comments
Internet never gets turned off forever, and if it does, you probably have bigger problems. If you live in a society with no internet there’s no luxury anyway. You can use your bitcoin once it turns back on or move to another country.
You can trade bitcoin without the internet
You can use a sattelite to communicate with the Blockchain, you can use starlink…. Just because the government shuts down the internet, does not mean it is useless..
*lose. I also realize you have no idea what you’re talking about.
I did hear on Sat Chats that someone managed to communicate and transfer bitcoin via a radio signal??
And if they close the banks and shut down the internet how do you get to your money or even know its there? Plus you dont need the internet to access the blockchain. Mesh networks like Jack Dorsey built prove that. Or tech like Starlink that Musk built also show there are ways around government internet intervention. Also do your research on Machankura.
They can shut down comms or internet, but your wallet still your wallet.
Don’t get confused 🙏
There’s a lot of projects around to set up a mesh network outside of anything the government can control. Obviously, depending on how bad things are they might track it and shut it down, but it’ll be a lot harder and even then your coins are not gone. You’ll always have them and can use them once you connect to the blockchain again.
I feel like the current state of the world shows how useful Crypto is.
Having BTC and no internet will beat your collapsed currency anyway if you are in Iran right now
By the way, Bitcoin transactions work via satellite, radio waves, mesh networks, or Bluetooth peer-to-peer setups