Bitcoin, Three Days discussed on Let's Talk Bitcoin!


That you weren't able to before you'll be able to trade your other fork bitcoin east i your bitcoin west bitcoin north versus your bitcoin south whatever so it's again it's very similar to what we've seen with bitcoin cash for the other airdrops if when cast was isolated from bitcoin for while and you couldn't have any kind of traction between the more exchange everybody would just sit on their holdings and then when when they could access the other chain again they start trading them avoiding catastrophic failure states for bitcoin emergencies are important because it's all about the ability in the here now from the event that occurred if there was a blackout if it was sort of issue hugh and i had a large amount of my all of my money with like would i then have wait several days or a couple of weeks for the you know hash rate to fix or the energy to come back online before i could even send a single transaction to get my money out like i guess is that like like you should keep money in a lightning channels so that if block times go up past you know an hour to three days you could still have quitted with your bitcoin is that like the disaster preparedness that people should have i mean i think it's a lot simpler than that you could always use physical tokens to exchange bitcoin you can for example store some of your equipment on a paypal wallet or an open time or other physical device and you can exchange that has currency so i can give you an open time that you can check the balance all for paparella you can check the balance and it has the face value of whatever's on it so that leads me kind of nicely into our next scenario jonathan the reason why we're talking primarily here about things that are sort of more extreme or kind of extreme examples of these scenarios is because i think that it's pretty clear that if there's a short term or of highly localised problem than it really doesn't change how bitcoin gets used for the vast majority of the users and even for the users who are affected really their best move is just to sit there and wait for it to be over because it's going to be over so really the the conversation that we're having today is partly about that but i think it's more about okay so let's assume that things go absolutely crazy in some factor what changes about bitcoin how does it get us differently and so without in mind let's talk about of space aliens were to invade this is sort of a type of control scenario let's assume that they invade they take over they don't shut down technology they monitor all communications and they monitor everything that happens anywhere in the world so bitcoin still exists but now it's become incredibly dangerous to actually make on chain transactions in any sort of way that can be tied back to you and as you brought up the idea of sort of physical bitcoins talked about open diomede talked about paper waltz there's another one which is the old kosice coin model which was physical bitcoins using tamper evident seals that have face value so that you don't need to check on the blockchain you can't check on the blockchain but the tamper evident ness of it and assuming that there's trust in the.

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