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Title: If Russia Invites Bitcoin Adoption, The Global Arms Race Will Begin
Source: [None]
URL Source: https://www.zerohedge.com/crypto/if ... on-global-arms-race-will-begin
Published: Feb 17, 2022
Author: Tyler Durden
Post Date: 2022-02-17 15:04:23 by Horse
Keywords: None
Views: 273
Comments: 7

Recent pro-Bitcoin developments from Russia could put the Eastern power in a lead position as inflation grows. How will other powers react?

Poster Comment:

Bitcoin is not the only cryptocurrency. The US military is all that upholds the value of the US Dollar. The military is Woke and Vaxxed. It and the dollar are doomed. The Chinese are experimenting with a guarantee of gold convertibility for a digital currency.

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#2. To: Horse (#0)

Are cryptos protected from EMP blasts/attacks?

Lod  posted on  2022-02-17   20:37:47 ET  Reply   Untrace   Trace   Private Reply  

Are cryptos protected from EMP blasts/attacks?

Yes, crypto is protected from EMP blasts, assuming the attack is not so widespread so as to wipe out all computers globally. Though it were that massive, then all fiat currency would be wiped out as well and we'd be back to a 1700's economy anyway.

The key point to remember is that blockchain technology is a redundant database system. Every node (computer) on the internet that is participating in the blockchain program has a complete copy of the entire blockchain database, so if 99% of these nodes/computers get destroyed by an EMP blast, so long as there is at least 1 copy remaining intact, then all crypto funds associated with that blockchain are safe. The recovery would simply mean replicating that node's copy of the blockchain to other computers, which would regenerate the entire system globally.

Now you would have your crypto wallet on your home PC with funds in it, and if it got wiped out by an EMP attack and completely destroyed, then your funds are still fine SO LONG AS you have a copy of your private crypto key tucked away somewhere, and that can be on a handwritten sheet of paper which would not be affected by an EMP attack. Your recovery process would be to get a new computer, download the same wallet as you had previously and start it up, then go through the wallet restoration procedure which would be loading up your private key into the wallet, and then you will again have access to all your crypto funds.

With some effort, this private key could even be memorized (12 passwords) so you wouldn't even need a sheet of paper.

Pinguinite  posted on  2022-02-18   1:32:08 ET  Reply   Untrace   Trace   Private Reply  

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