Quote from: Kprawn on June 19, 2014, 08:07:03 AM

It's called a "Disaster recovery plan" Everyone should be discussing such scenarios, to know what to do, IF something like that, could happen.

Would 911 have a bigger impact, if emergency services did not plan for these type of disasters? It's always better to simulate, absurd scenarios, before they happen. And it looks like, these type of scenarios, are tested on smaller Alt coins, just to see, what would happen, and how it could be countered.

So let's discuss this and possible other scenarios. Grin

Sigh, you're right (and reminding of work). Based on the calculations Sonny provided (can anybody confirm those? I'm not knowledgeable enough to peer review it) then a failover system should be considered. Perhaps the question is not 'if miners go on strike?' but 'how would BTC continue to function if there were an interruption in block mining?'

Are there other scenarios which could lead to an interruption? Short of a global EMP strike, of course.

1. Regional power outages: most countries employ some type of redundancy & interconnectivity for their electrical grid. Even if a massive power failure results it may take a day or so to restore. Probably not a major concern but could easily disrupt transactions depending on where the major mining hubs are. http://en.wikipedia.org/wiki/Electrical_grid
2. Mining Hubs: speaking of mining hubs, GHash.io and the others all depend on physical hardware to do the mining. In the event the center is compromised or physical hardware damaged there's not much of a failover for this. Unlike data which can be backed up in a redundant data center in another city, these hubs are susceptible to many types of disaster.

any other scenarios?