Quote from: cryptomining on January 15, 2014, 06:11:04 PM

Quote from: yatsey87 on January 15, 2014, 06:09:29 PM

Quote from: qfdev on January 15, 2014, 05:59:11 PM

The "No intrinsic" value argument has been discussed to death.

I believe the "Carrington event" relates to a solar storm that would knock out most electronic means of communication. How is the current banking system protected from the same event? If anything Bitcoin is more resilient as the blockchain (public ledger) is replicated across 1000s of PCs.

http://en.wikipedia.org/wiki/Solar_storm_of_1859

Thinking about this...Maybe we should go back to using an abacus??

Oh, then in that case I think everything would be fucked not just Bitcoin.

nope, land wont disappear, gold wont go poof, cows wont disappear, just btc.

Neither will BTC. The way BTC works is better than the incumbent system because of the internet. I have no idea how even a Carrington event would cause this the permanent loss of any internet-like global communications network -- science is vast, and necessity is the mother of all invention; I'd bet we can quickly find a means of at least relativistic communication that is not interrupted by solar activity... give me ten minutes and I'll propose at least three, one of which will be viable. Similarly, I already have an EMP-case solution for mining, so all that remains is the actual propagation to be solved. Perhaps I'll spend a few minutes, but I suspect you won't be satisfied unless someone goes, "shit! so, BTC is dead then! Thank god for that new fellow for telling us. Can't believe we didn't think of this in the last five years. Good try, gents..."