Can Bitcoin survive a world war? Or, what will be the fate of cryptocurrencies If there's a war with nukes? Or, can Bitcoin be relevant in the times of cyber warfare?
There are, indeed, much crazier questions that fill up your mind as soon as the word WW3 shakes your senses. Of course, the craziest of all you can ask is, 'Can I survive alongwith those who I love the most?' You can't answer it with an outright optimism. You can only pervieve for the worst possible best even if you're living in the safest heights of Alps in the most beautiful country with nuke-proof bunkers for everyone. Well, the consequences of war are often so devastating that it spares none and nothing including people's money 'Bitcoin' from the doom.
However there are enthusiasts who may claim that cryptocurrencies like Bitcoin and Ethereum, would be much more valuable in the times of war. They have the backing evidence of Ukraine getting Billions in donation and Russia bailing itself out of dollar dominated foreign trade with cryptocurrency amid the recent war between the two nations. Alright, here's the eye opener. First of all, Russia-Ukraine war is way smaller than a world war. Secondly, there's little to no possibility of nuclear warfare from either sides. So, the probability of cryptocurrencies being hit down is very low in the times of regional wars like Russia-Ukraine and Israel-Hamas. Hence, writing down the impacts of world wars by comparing them to smaller regional wars are an outright miscalculation. We can't judge the whole book just by it's cover.
Now, to understand the real impact of a world war on cryptocurrencies, we must first underpin the annihilation it will bring to our world. We can assume that most of the bigger countries will participate in the WW3. The powers with nukes will try to supress one another. There will be three major sections among countries; the coalition, the alliance and the neutral ones.
This time the world war won't end the way, it has ended on both of the previous occassions. If it becomes a nuclear war, the devastation will write off half of the Earth's population with half of the infrastructure and will leave our atmosphere on a death bed. If it's without the nukes, don't underestimate, it will still be catastrophic in terms of the destruction it will bring on our planet. Just imagine about the war weapons used in WW2, and think how upgraded weapons we have for WW3. If those weapons killed around 75 Million people before 80 years, Modern weapons, excluding the nukes, are much more destructive.
The modern warfare techniques are also very different from that of past. Now the war is not only fought on the ground, air and water, but is also fought in the cyberspace. Imagine one party of the war attacking and destroying the other's satellites, or somehow hacking or corrupting the entire network, or may be for emergency, your own country restrict internet services. As a result, suppose, you're unable to access internet for a long duration. Will that not bring down your hopes with Bitcoin or cryptocurrencies?
In the most ugly scenario of an ugly world war, miners will be the ones facing the most difficult of times. They will definitely face electricity crisis and there will be places where mining rigs are forcefully snatched or destroyed. There will be less miners to handle the entire Bitcoin network. We all know how much that can affect adversely. There will be times, when one group of nodes of a network can't communicate the other. Will they still reach consensus? If they won't, they will be forced to fork the network and there will be multiple chains for a network, be it Bitcoin or Ethereum.
So, it seems safe to assume that Bitcoin and cryptocurrencies won't survive WW3 as they become useless in the times when people would need them the most. As assumptions are only imagination, reality can be entirely opposite! And for those who believe in Bitcoin and Cryptocurrencies, the reality is summed up in the next few lines. The reality is that the space of Bitcoin and Cryptocurrencies is not so small that it will completely disappear during or after the world war. If Google, Amazon, Meta and banking system on our planet can survive a world war, so can Bitcoin and Cryptocurrencies.
As always Thanks for Reading
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