There have been loads of obituaries for Bitcoin over the asset’s short history. Despite continuously being declared dead or projected to fall to zero, in theory, it cannot be stopped or exterminated.
Though, the one thing that could extinguish Bitcoin is happening today. Even though today’s event may not be powerful enough to put an end to the cryptocurrency, it does exhibit how accurate the situation may be.
Is Bitcoin Unstoppable?
Bitcoin was considered to be decentralized and fully independent, reinforced by a network of miners incentivized by that same network to keep it in the task. In theory, it cannot be stopped so long as the internet survives.
Even though an apocalypse takes out the internet, Bitcoin may still be possible. This was hypothetically proven when BTC transactions were successfully sent over HAM radio last year.
The world is presently undergoing a pandemic, where people are enforced to rely significantly more on digital solutions to common complications. Political and social turbulence, coupled with the unparalleled impact on mental health due to quarantine circumstances, has exploded into protest and violence.
The individual scenario that could make problems worse would be if all forms of communication were disturbed. This unwelcoming picture is something that Deutsche Bank recently cautioned would be the one black swan that could be more devastating than the current outbreak.
Today’s Solar Flare: Is this Capable of Destroying Cryptocurrency?
The Sun would be the only energy source powerful enough to completely knock out all forms of internet, radio communication, and infrastructure.
This is precisely what Deutsche bank says would make the pandemic look like a walk in the park. This is also the only thing that can destroy Bitcoin.
What’s more terrifying, though, is the fact that such an event is happening now.
The one thing that could exterminate Bitcoin is taking place on Earth now, just as the Sun sends a powerful solar storm jumping our way.
NASA, NWS, and NOAA informed that this event of space weather could disrupt electrical generation systems, radio signals, satellite communications, and more.
This specific storm isn’t likely well-intentioned of destroying the cryptocurrency for good, but these events are far more mutual than one would consider.
The last dangerous electromagnetic blast from the Sun took place in 1859. A source says that if a storm of a similar level hit the Earth today, it would cause “widespread electrical disruptions, blackouts, and damage due to extended outages of the electrical grid.” A solar flare of that size could be the one thing that puts an expiration to the crypto asset for good.
However, within such devastation, there habitually lies the beauty. In the mid-latitude area of the US, the UK, and elsewhere may be able to view an electromagnetic aurora over the night sky.
This beauty must be taken as a reminder of how real such an end of days scenario for Bitcoin is.