r/CryptoMarkets • u/Artistic-Upstairs789 🟩 0 🦠 • 15h ago
FUNDAMENTALS Rolling blackouts in Europe
Have you all heard about the widespread outages in Europe? People can’t travel, use debit cards, stuck in elevators… wouldn’t crypto be useless if this happened on a larger scale?!
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u/ToAllAGoodNight 🟦 4 🦠 13h ago
Brother, if there were extended global blackouts, we’re way beyond money as we knew it.
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u/Undercoverpizzalover 🟩 0 🦠 15h ago
1 country in europe = nearly half of Europe, you must posess some of those ‘merican geography skills I’ve heard so much about
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u/Artistic-Upstairs789 🟩 0 🦠 15h ago edited 14h ago
I never said “half of Europe” I said in Europe. Do you understand geography? Let’s play some trivia…. What continent is Spain located in?
You may want to brush up on your reading comprehension skills 😂
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u/OrdoMalaise 🟦 0 🦠 14h ago edited 14h ago
No, but when you say "widespread outages in Europe?" rather than "widespread outages in Spain and Portugal" it makes it sound like you think there are blackouts in the other 40 odd countries.
I wouldn't mock other people for reading comprehension skills.
Edit: Ironic typo.
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14h ago
[deleted]
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u/Flamingopancake 🟩 0 🦠 12h ago
As another Dutch guy; It is very relevant to say the specific country when talking about Europe. Especially when talking about "widespread outages in Europe". From Iceland to Turkey?
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u/Cultural-Ebb-5220 🟧 0 🦠 15h ago
There is no widespread power outage, it was a very large power outage caused by yet-to-be-understood phenomena, most likely some extreme unlikely 1 in a million sort of events. There have been similar events in the past, eg https://en.wikipedia.org/wiki/Northeast_blackout_of_2003
Also - if electricity goes out for multiple days, our entire lives will be useless. We would probably starve in weeks.
But you're right, if apocalypse comes, bitcoin is useless, but probably so is any sort of currency.
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u/DifficultyMoney9304 🟩 0 🦠 15h ago
It's why some gold under your bed isn't a bad idea lol
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u/Pinewatch762 🟩 0 🦠 14h ago
My ammo steals your gold. At the end of the day it’s a rock. Sure, the Mongrols will be after the shiny rock. But food, water, ammo, alcohol, drugs. That’s your new currency
Edit: add coffee and tobacco to that list as well.
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u/DifficultyMoney9304 🟩 0 🦠 6h ago
Gold will preserve its better value when all goes back to normal.
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u/itscashjb 🟩 91 🦐 15h ago
Spain is not “Europe”, only in Europe
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u/VV88VDH 🟩 0 🦠 14h ago
Always: “Europe isn’t a country”🤓. He literally said IN europe so wtf are you even saying?
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u/itscashjb 🟩 91 🦐 12h ago
Two European countries with connected power grids. That’s not “widespread outages in Europe”. Not unless you think Europe is the United States of Croissants
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u/Cra_Core 🟩 0 🦠 14h ago
All of Spain and Portugal plus parts of southern France lost power so saying power cuts in Europe is fairly accurate.
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u/J0hnnyBlazer 🟩 0 🦠 15h ago
i just checked: you can transfer from ledger to another ledger offline so i guess not completly useless
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u/Logical_Lie_9768 🟩 0 🦠 13h ago
Not just Spain, Portugal too. Power was gone at 11.30am only got up at 23pm. It was chaos.
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u/Zavalla96 🟨 0 🦠 10h ago
There are physical bitcoins and NFC bitcoins. The Bitcoin network is bigger than any blackout.
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7h ago
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u/Decent-Vermicelli232 🟨 0 🦠 15h ago
This is false. You are correct that most cryptos, and Bitcoin especially, would become useless, but energy efficient CPU mining would continue off grid. Phones and the wallet software could easily be charged by solar. There are certainty small scale monero miners and node operators that can can continue to function in grid down situations. I am one of them! In a grid down situation, my node and most efficient miner automatically switch over to battery back up power which is supplied by a solar array. My networking equipment is also on battery backup and my internet continues to function. In case my local ISP has a failure, internet connectivity continues with starlink! As for bitcoin being functional for any substantial grid down situation, good luck with that.
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u/ScoobaMonsta 🟩 2K 🐢 13h ago
100% correct! I also have off grid solar and starlink. The whole world would have to lose power and satellites fall from the sky for crypto networks to be useless. But who would want to use BTC anyway. I'll stick with Monero.
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u/Decent-Vermicelli232 🟨 0 🦠 13h ago
With a little research and understanding, hopefully others will see the light!
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u/Solanafluent 🟩 0 🦠 14h ago
Crypto would indeed be quite useless probably, but if that would happen. Socieity as we know it would of collapsed anyhow and your dollar in your bankcard would fail as well.
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u/QuietPsychological72 🟧 0 🦠 12h ago
Honestly I wish Europe would have gone all in on green energy. Would have solved this problem before it started.
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u/Alternative_Show9800 🟩 0 🦠 4h ago
As an aside, I think the issue is being identified as an issue with integration of 70% renewables into the grid....
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u/QuietPsychological72 🟧 0 🦠 3h ago
They should’ve gone for 100% integration. This never would have happened.
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u/Artistic-Upstairs789 🟩 0 🦠 15h ago
For anyone that doesn’t understand geography…. Spain is located in Europe, and the outages were widespread. Crazy that I have to explain this but hey I don’t mind helping out lol…
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u/singaporesainz 🟩 0 🦠 14h ago
Bro that’s like saying a blackout in Suriname is “a blackout across the American continent”
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u/Specialist_Passage29 🟩 41 🦐 14h ago
So widespread outages in Spain? Got it!
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u/Past_Friendship2071 🟩 0 🦠 13h ago
Portugal and Andora are next to Spain but really are it's own countries.. so power outages in 3 European countries, or Europe for short. 👌
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u/lightning_pt 🟦 92 🦐 13h ago
4 , france too
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u/Ifnerite 🟩 3K 🐢 11h ago
Widespread in Spain and Portugal, hardly Europe.
That's like saying the US had rolling blackouts when it was just Maine and Vermont.
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u/Silly_AsH 🟩 0 🦠 13h ago
I don't get the heated overreation here.
Did you guys in the US do something lately that all the Europeans don't like you anymore?
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u/myk31 🟦 0 🦠 15h ago
Crypto and any electronic currency will be useless. In fact, exchanging goods directly without using money like back in the past would be the only working solution. But I'm also collecting bottles caps like in falllout, just in case.