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Microsoft accepts Bitcoin



On Fri, Dec 12, 2014 at 1:18 PM, Ryan Carboni <[email protected]> wrote:
> but if there's a major war, the world's internet connections will be
> disrupted, and bitcoin would probably die in areas in which mining is less
> than the biggest contiguous block of miners.
>
> Bitcoin is the worst currency to hold during WWIII, you literally cannot
> spend it until the world internet is repaired.

Like fiat, you can still use BTC locally. A country/bloc at war may,
or may be subject to, sever border fiber. This is called a fork.
Thereafter, you, and miners, all residing within that fork, will have,
from your perspective, the last physical copy of the blockchain (in peactime,
the single global one, forklevel 0). After the diplomats sign to end the
war, as with all other commerce, supply chains, currencies... the parties
engage in price discovery, rebuild, reintegrate, settle out. It's maybe
impossible remerge the blockchains, but since your local fork still has
local value, you'll sell/swap it for value in whatever the global chain is at
that time. Local fiat is no different in that revaluation process. However gold
seems historically resistant, and after the border is repaired, your gold
typically gets you the value it has in the winning country, unlike local
fiat/digital which loses drastically. Still, everything is subject to natural
rebasing on market cap, forms of management/underwriting. or left to die.

There's a twist to the traditional thinking many people might write
mirroring the above... your privkey still has value in the "enemy chain"
(the one on the other side of the cut). Figure that scenario out.

War fucks shit up... don't expect that your fiat/digital/gold currency
of choice will ever come out unscathed. The old rule still applies, flee
or convert what you need to capital/real value beforehand, if you have
enough time. Good luck if it goes nuclear.