Famous participant of cryptocurrency industry Charlie Shrem considers that Bitcoin will “survive a nuclear catastrophe”, while all banks and paper money will literally burn.
“if happens unthinkable, Bitcoin will be long-lived currency during nuclear war, in comparison with fiat currency, which will simply disappear”, – he claimed.
According to Shrem, insofar as paper money, unlike BTC, is not digital objects, they can simple burn and then banks in a moment will lose their money reserves, which are necessary for their work.
What is more, Shrem thinks that nuclear catastrophe will destroy centralized banking organizations – their balances will become useless as soon as bank buildings and computers will be turned to ashes.
“Banking balances will suddenly become useless. Nobody can go to a bank or to an ATM in order to get cash, because banks will stop their work at that moment, when first nuclear bombs will blow up”, – he said.
Even Single Node Leaves, Bitcoin Will Exist
He has specified, that when some banks will evaporate and another will be contaminated by radiation, of course, Bitcoin will survive the tragedy, because unlike the fiat, it doesn’t have physical existence and is decentralized.
“When exists at least one node running BTC, the network will continue functioning. Very likely, that most nodes will survive the most awful nuclear attack, because they locate in numerous places of the world and can connect through the Satellite Internet”, – he stressed.
Investment platform stresses, if nuclear war happened, people would care about money in the latest turn. But Charlie Shrem has risen suggestive moments, which are worth considering within the framework of current “cryptocurrency winter”, when some sceptics cry that Bitcoin`s price will fall to zero point, and another insist on dying of the whole market.
Shrem considers that gossips about Bitcoin`s death are quite exaggerated and for realizing this fact you can just look at physical restrictions of traditional financial structures.
“Decentralization of Bitcoin network makes it being immune to economic disasters, which can appear as a result of nuclear war”, – Shrem stressed. “Network will continue working even in case of complete global collapse of the electrical and telecommunications infrastructure”.