Russia is considering shutting down the internet connection to the rest of the globe. What will occur? Is the hash rate decreasing? What will happen if the connection is re-established in a few years?
In that aspect it would be bad and ruined the economy. And a lot of people would be probably out of job especially to those who only relies on the internet. If there is no internet the world will immediately losses acces to almost all of its money. Meaning, we cannot use our credit card to pay for anything. We cannot take money out of the atm and banks will be completely unable to function. Bitcoin will no longer accesible as it also needs intenet connections. Hashrate will be temporary drop. However, it will probably replace with something else. As the whole world knows how important the internet is. Private corporations will take advantage of this since they have funds and resources to build a new internet.