Ninjastic
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Board Mining speculation
Re: What if a large number of miners were suddenly forced to shut down?
by
altcoin.center
on 29/11/2014, 21:20:50 UTC
Quote from: Remember remember the 5th of November on November 29, 2014, 06:29:49 PM
Quote from: inBitweTrust on November 27, 2014, 01:12:30 PM
Quote from: pandalion98 on November 27, 2014, 10:47:00 AM
95% of miners are suddenly offline.
Be it a new law or an EMP strike. What would happen to bitcoin?  Huh

Most EMP strikes are trivial to defend against with a properly grounded Faraday cage. Many datacenters are protected against EMP's as well.

Can your power grid handle a Solar flare of X-Class higher than 40? Do you know, that it will happen one day, and will be aimed directly at us? Do you also know it has happened in the late 19th century, but thankfully back then we were not as advanced as we are now.

Agreed.

Finland is the only country in the world whose grid is protected against CME induced EMPs.

The delivery networks can not be protected by Faraday cages; specially designed transformers are needed to lead the induction currents out of the grid without harming the transformers and other parts of the system.

Having protected server rooms doesn't help much if there's no way for the servers to connect with the outside world. Or, if they don't have electricity. From the standpoint of an individual user, the most likely problems would have to do with the lack of both electricity and [global] communications channels the wallets need to function - i.e. the Internet.

- Jyri
--
Altcoin.Center