a) an immediate steep drop in difficult will allow the network to resolve transactions without loads of power, and the few nodes online will still comprise the network. some networks have much longer difficulty adjustment periods and they will be debilitated for months as blocks will not come, other networks have much shorter adjustment periods and will generate new blocks in minutes
b) that transactions can be signed offline and broadcast eventually, far far in the future.
c) alternatively, in a temporarily trusted environment, physical notes with private keys can be handed to someone else in exchange for goods and services. anybody can check the current balance with their own copy of the chain state without the internet, the date/block height of the physical notes balance should be stated alongside the note and anybody with a chain after that block height can verify it. if a provider really wants the latest copy of the chain to accept these notes, order it on a physical disk shipped to you and verify the checksum with multiple sources.
d) this means the user can exchange for goods and services without the internet, and the people that are still connected to other nodes such as a radio tower or internet cafe can act as tellers at banks and broadcast transactions periodically for people.
No power, societal fabric is breaking down, credit cards don't work.
Assumption: people will accept crypto at any value.
Reality: people will barter for tangible items and use force to maintain their desired order. If I'm auctioning a spare 10kw generator the guy offering a 5.56 rifle and 100 rounds has infinitely more value than 100k bitcoins (~$5,000,000,000.00)
Maybe this fantasy can play out if the person you're bartering with knows a lot about bitcoin, knows that the disaster is localized, and knows that they can escape and survive the disaster zone without the tangible alternatives. That's a lot of assumptions. You're better off hoarding 9mm bullets, water purification tabs, generators, trucks without electronics and their repair parts, solar panels, deep cycle batteries, gasoline/diesel, bullet proof vests, and MREs. But at that point any substantial tradeable stock pile is going to cost as much or more than a well designed bunker stocked to run and survive independently for >10yrs. You won't make any money during the disaster, and you must survive it to have the opportunity to be robbed before you can start to realize gains during the aftermath/rebuild period.
Right I think that will happen as well, I am interested in better price discovery instead of arbitrary barter.
I will support the cause to build the infrastructure for better price discovery. Transactions can be broadcast to the chain which is supported by an asset with many assurances and confidence about its supply.
I don't actually care about the cryptocurrency being a reserve currency or any ideology fantasizing that, I care about its network being an option to support better price discovery in barter.
I legitimately do not understand what you're getting at.
Society collapses, and you believe people will use cryptocurrency for barter instead of tangibles like water, food, ammunition and/or weapons because people will want to optimize the prices? What are you saying?
that they'll use it for easier reference value and an option, yes
if its easier for you, just imagine that its for the monocle wearing investment bankers that still want to offer intangible services and settlement over a network
The network would either fragment or die. Depending on how many local/regional networks still exist or are brought up, there would be too many forks to count and then any spends are impossible to really rely on, or just no stable forks at all.
You can sign things offline, sure, but you can't really verify them. I could spend the same coins a thousand times if the people accepting them can't reliably check for verifications using the same consistent chain.
I don't even understand how the scheme in "c" would work to be honest, and I have a decent background in crypto and cryptocoins. How many people are going to be able to make that work?
I just can't see any of that happening. I'd expect a combination of a barter economy, some precious metals and whatever physical currency is around.
a) an immediate steep drop in difficult will allow the network to resolve transactions without loads of power, and the few nodes online will still comprise the network. some networks have much longer difficulty adjustment periods and they will be debilitated for months as blocks will not come, other networks have much shorter adjustment periods and will generate new blocks in minutes
b) that transactions can be signed offline and broadcast eventually, far far in the future.
c) alternatively, in a temporarily trusted environment, physical notes with private keys can be handed to someone else in exchange for goods and services. anybody can check the current balance with their own copy of the chain state without the internet, the date/block height of the physical notes balance should be stated alongside the note and anybody with a chain after that block height can verify it. if a provider really wants the latest copy of the chain to accept these notes, order it on a physical disk shipped to you and verify the checksum with multiple sources.
d) this means the user can exchange for goods and services without the internet, and the people that are still connected to other nodes such as a radio tower or internet cafe can act as tellers at banks and broadcast transactions periodically for people.
better than trading bottlecaps.