What good is Bitcoin if the Internet fails?

What happens to traditional banking in if the internet fails?

Data will always be the most valuable asset, with or without the Internet (TCP&#x2F;IP makes it easy to move, but is not required).<p>Once the 2-way links are available, running your own node without meshing would likely be a requirement for retail shops, miners and investors that will help grow the footprint.<p>If they could code liquidity modes into wallets (ie. Spendable vs not spendable modes), they could possibly limit the losses during disruptions by having wallets that are in a non-spendable state stay safe from manipulation, while only the crypto in spendable state wallets that are in circulation being vulnerable to loss or fraud during catastrophic events.<p>I think something like that was proposed with one of the alt-coins a few years back.

In some countries I could see this being an issue, as the Internet can be shut down entirely for any number of political reasons.<p>In the US, if the Internet is out everywhere for an extended period of time, Bitcoin will be the least of anyone&#x27;s worries.

You can now sync the blockchain via satellite, and send transactions via SMS gateways

this is a very interesting and good question.<p>for people that love decentralization... they sure are dependent on a centralized internet infrastructure.

This is one of the infrequent cases in Hacker News where the article is far better than the comments (so far).

no good