Smart Crypto News
Registration
  • Login
  • News
  • Personalized
  • My Folder
  • Learn
  • Contact Us
No Result
View All Result
  • News
  • Personalized
  • My Folder
  • Learn
  • Contact Us
No Result
View All Result
Smart Crypto News
No Result
View All Result
Home Bitcoin

The One Thing That Could Destroy Bitcoin Is Happening Today

NewsBTC by NewsBTC
August 20, 2020
in Bitcoin, btc, btcusd, BTCUSDT, crypto, Digital Currency, solar flare, XBT, xbtusd
0
The One Thing That Could Destroy Bitcoin Is Happening Today
0
SHARES
1
VIEWS

There have been dozens of obituaries for Bitcoin over the asset’s short history. Despite constantly being proclaimed dead or projected to fall to zero, in theory, it cannot be stopped or killed.

However, the one thing that could actually destroy Bitcoin, is actually happening today. Although today’s event may not be powerful enough to put an end to the cryptocurrency, it does show demonstrate how realistic the scenario may be.

Is Bitcoin Really Unkillable?

Bitcoin was designed to be decentralized and fully autonomous, supported by a network of miners incentivized by that same network to keep it in operation. In theory, it cannot be stopped so long as the internet exists.

Even if an apocalypse that takes out the internet, Bitcoin may still be possible. This was potentially proven when BTC transactions were successfully sent over HAM radio last year.

Related Reading | Space Holds The Key to The Bitcoin (BTC) Moon Mission: Flipping Gold

The world is currently experiencing a pandemic, where people are forced to rely significantly more on digital solutions to everyday problems. Political and social unrest, coupled with unprecedented impact on mental health due to quarantine conditions, has erupted into protest and violence.

The only scenario that could make matters worse, would be if all forms of communication were disrupted. This bleak picture is something that Deutsche Bank recently warned would be the one black swan that could be more crushing than the current outbreak.

Solar Flare Taking Place Today Is Example Of Scenario Capable of Destroying Cryptocurrency

The only energy source powerful enough to completely knock out all forms of internet, radio communication, and infrastructure, would be the sun.

This scenario is exactly what Deutsche Bank says would make the pandemic look like a walk in the park. It is also about the only thing that can actually destroy Bitcoin.

What’s more frightening, however, is the fact that such an event is happening today.

bitcoin solar flare

That’s right – the one thing that could kill Bitcoin is taking place on Earth today, just as the sun sends a powerful solar storm hurdling our way.

NASA, NWS, and NOAA warn that this event of space weather could disrupt electrical generation systems, radio signals, satellite communications, and more.

Related Reading | Bloomberg Hilariously Lists Bitcoin As a Space Stock

This particular storm isn’t likely worthy of destroying the cryptocurrency for good, but these events are far more common than one would believe.

The last extreme electromagnetic blast from the sun took place in 1859. Wikipedia says if a storm of a similar magnitude hit the Earth today, it would cause “widespread electrical disruptions, blackouts, and damage due to extended outages of the electrical grid.” A solar flare of that size could be the one thing that puts an end to the crypto asset for good.

But within such destruction, there often lies beauty. Those who live in the mid-latitude area of the US, UK, and elsewhere may be able to view an electromagnetic aurora over the night sky.

If you can see that beauty, take it as a reminder of just how real such an end of days scenario for Bitcoin really is.

0
0

Related posts:

No related posts.

Previous Post

“Unscrupulous” Exchanges Accused of Cashing in on Polkadot Redenomination

Next Post

XRP Reels to Key Support; Loses Position as 3rd Largest Crypto to Tether

NewsBTC

NewsBTC

Next Post
XRP Reels to Key Support; Loses Position as 3rd Largest Crypto to Tether

XRP Reels to Key Support; Loses Position as 3rd Largest Crypto to Tether

Twitter
About Us
Contact Us
Terms of Service
Privacy

Subscribe to our Newsletter

Download our APP on Google Play

© 2020 Smart Crypto News

No Result
View All Result
  • News
  • Learn
  • Personalize
  • Registration
  • Login
  • Contact Us

© 2020 Smart Crypto News

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In