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Bitcoin Could Survive Nuclear War: Nick Szabo

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  • Alex Dovbnya
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    Bitcoin price fluctuations should not be an issue for the holders of the digital currency that could survive a nuclear war

Bitcoin Could Survive Nuclear War: Nick Szabo
Cover image via www.123rf.com

According to early cypherpunk Nick Szabo, Bitcoin could be the most durable digital currency in case of a nuclear war.  

It takes only one active Bitcoin node to keep the network alive. As Szabo points out, there are 9,000 copies of the full Bitcoin transaction history that are located in 90 countries. 

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The global nuclear weapon stockpile reaches 15,000 warheads, but scientists have estimated that there is no pragmatic reason for nations to hold more than 100 of them since it takes five nukes to spark a so-called "nuclear autumn." One careless decision made by a high-ranking official could lead to a worldwide catastrophe.  

Earlier, crypto pioneer Charlie Shrem also explained why Bitcoin could be the only currency to survive a nuclear war. If this doom-laden scenario were to take place, the leading cryptocurrency would prove to be more resilient than fiat money that could be easily incinerated. Banks would stop operating with the detonation of the very first bomb. 

Some banks will be vaporized outright. Others will be contaminated with radiation, and even more will have no power or communications. 

Even in case of a nuclear attack, Bitcoin owners could still use satellite internet and renewable energy sources like wind or solar power to communicate with each other. However, it is necessary to protect all equipment that is needed to access a cryptocurrency wallet.

"Thus, due to Bitcoin’s decentralization, the network will continue to run even in the event of a total worldwide collapse of electrical and telecommunications infrastructure, as long as some Bitcoiners acquire satellite internet downlinks, self-sustaining power sources, and protect all the equipment they need for the node in nested faraday cages," Shrem wrote.   

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If to assume that Bitcoin nodes can be run from cold war bunkers and satellites, one can safely say that it will prove to be more resilient than cockroaches.    

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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Bitcoin Price Predicted to "Rocket Up." $7,400 Level Reclaimed by Bulls

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    The Bitcoin price could soon touch $7,800 if bulls persist, but this move could be a short-lived one

Bitcoin Price Predicted to "Rocket Up." $7,400 Level Reclaimed by Bulls
Cover image via u.today

Popular crypto trader Wendy O recently predicted that the price of Bitcoin would "rocket up" if it managed to surge above the $7,400 level. 

Bitcoin Price
image by @CryptoWendyO

Shortly after that, the BTC price did rise above the aforementioned level, currently sitting at $7,444, according to CoinStats data

Bitcoin Price
image by coinstats.app

If the aforementioned forecast turns out to be accurate, Bitcoin traders could soon see another fakeout, which would be similar to the one that took place on Dec. 4. As reported by U.Today, BTC printed a massive green candle in less than a minute, but this unexpected pump quickly evaporated.     

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Earlier today, multiple traders predicted that Bitcoin was about to make a big move in either direction, but $7,800 seems to be the main area of interest for them. The leading cryptocurrency hasn't touch this level since Nov. 30. 

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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