What Role Will Bitcoin Play After The Apocalypse?

By: Michael Kern | Fri, Nov 24, 2017
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Doomsday preppers have caught a lot of slack over the years. And while hoarding gold, building bunkers, and stockpiling arms may not be on your agenda anytime soon, bitcoin is being seen as an increasingly viable asset in the apocalypse.

 

The country with the world’s largest oil reserves is on the verge of collapse, Saudis have ousted and incarcerated large numbers of the Kingdom’s biggest figures, both North Korea and the United States seemingly have their fingers on the trigger, toxic radiation clouds are floating over Europe, and our world leaders are sharing memes on Twitter.

While the absurdity continues to mount, one can’t help but think that maybe these preppers may be on to something.

So, what does the modern apocalypse look like? Financial collapse? World superpowers fall into chaos? Nuclear war? And where do cryptocurrencies fit in?

Financial collapse

In a popular fictional TV show, there is a depiction of global economic collapse through an attack on one of the world’s largest corporations. Following the collapse, a global digital currency takes the place of cash, and while power remained spotty in some areas, it was portrayed as the only tool for the governments involved to rebuild the capitalist money structure that fell. This notion rings true on several levels as we see struggling economies prepare to take a similar path in the real world.

Venezuelans and Zimbabweans are already using bitcoin as a hedge against their country’s out-of-control currencies. Even Indians are stepping up their bitcoin presence. And though gold is hugely popular in Zimbabwe and India, it’s clear what citizens view to be a more valuable investment as cash becomes scarce.

The world’s largest oil producer is also taking huge leaps into the crypto-realm.

While not necessarily anticipating an economic apocalypse, Russia is ramping up its efforts to secure bitcoin and adopt blockchain technology. Though its relationship with cryptocurrency is beyond complicated, the Kremlin is looking to cement itself as a leader in the bitcoin race.

Civil uprising

It’s no secret that there is growing dissatisfaction with the governance of some of the world’s most developed nations. Protests are frequent news pieces worldwide, the EU is beginning to fracture, and rising economic inequality is leading to widespread distrust in the world’s banking systems, and the currencies they support.

Fed up with the banking schemes making the rich richer and the poor poorer, people are already looking for alternatives, many of whom have found cryptocurrencies to be just that. Cryptos are offering a choice, and not only that, they are offering a platform that is safe and decentralized, and as the world begins to fracture, perhaps even split into smaller-independent nations, cryptocurrencies could become a global tool for commerce.

With modern independence comes a unique opportunity for new nations; a cheap, paper-free, secure e-currency. Autonomous micro-nations could very well be the result of the fall of the world’s superpowers, and they’ll need some way to trade, right?

World War III

The one the preppers have been waiting for – the very reason there are thousands of bunkers stocked with cans of tuna, AR-15’s, and stacks of precious metals spread out across the Midwest.

With one tiny hand spamming Twitter, and the other resting carefully on “the red button,” the possibility of World War III seems less far-fetched every day. And this is where the bitcoin believers may face the biggest test of their faith in the blockchain, but it’s also why the new breed of libertarian survivalist is banking on the crypto.

As the world plunges into chaos following mass-detonation of nuclear arms, we can envision a Fallout style scenario – but what happens to the grid? What happens to the internet?

Rob Harvey, a bitcoin investor prepared for the worst notes: “It may be difficult, if not impossible to access for a while, but once things start returning to some level of normality, then the Blockchain will return as it was before the disaster – The Blockchain does not need a specific place or a specific person to survive—that’s a strong survival tactic.”

Fortunately for Rob, and the rest of us, however, there are already projects in development that could keep bitcoin alive, even if major grids fall, or the internet goes *poof*.

Micro-grids powered by renewables are already being built – and sustained – using blockchain technology. Additionally, blockchain satellites are already in orbit. When the giant grids are shut down, areas with these self-sufficient grids could become hubs for commerce while others race to create their own. And with satellites broadcasting the bitcoin blockchain from space, cryptos could be the go-to currency for the apocalypse. They’re easier to carry than gold, after all.

So, to all of the preppers, hodlers, anarchists, and sweet, innocent patriots out there – let’s hope for the best, but rest assured because at least we’ve got bitcoin if the world comes crashing down around us.

By Michael Kern via CryptoInsider


 

Author: Michael Kern

Editor at Oilprice.com, Writer at CryptoInsider.21mil.com
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