Latest / Simply Bitcoin / How to Survive The End of the World with Bitcoin | Beyond Bitcoin

Transcript

How to Survive The End of the World with Bitcoin | Beyond Bitcoin · Simply Bitcoin

• 0:00
  What is your worst case scenario?
• 0:02
  You know, the kind that you keep in your head, but you hope it
• 0:03
  never ends up on your doorstep. Please sign for this Amazon.
• 0:06
  Package. And more importantly, does
• 0:08
  Bitcoin fix it? In this episode, we're going to
• 0:10
  dive into a world of terror where you may just have to ask
• 0:13
  yourself what's better, shotgun shells or seed phrases?
• 0:17
  Shotgun. 12 words you can store in your brain or 12 gauge shells
• 0:21
  you can store in your closet. Which one actually feeds you
• 0:23
  when things get ugly? Imotions.
• 0:25
  This is beyond Bitcoin. Which way?
• 0:27
  Western men? Do you feel it?
• 0:35
  A looming zombie apocalypse? A fourth turning?
• 0:38
  A magnetic pole shift? Not trying to scare anyone here,
• 0:41
  but it seems like every day that passes is closer and closer to
• 0:44
  doomsday. The threat of nuclear war
• 0:47
  between global superpowers, like we're living in some funner
• 0:50
  version of 1984. Massive money printing from all
• 0:53
  nations across the globe. Rising prices, plummeting birth
• 0:56
  rates, and an inability to afford pretty much anything.
• 0:59
  What about power grid failures? Texas iced over in 2021,
• 1:03
  Pakistan blacked out for an entire weekend in January of
• 1:06
  2023, and Nigeria lost 19 out of 25 power plants in just last
• 1:10
  year. When lights go out, ATMs go out.
• 1:13
  Or what about centralized surveillance money?
• 1:15
  CBDC's. Did you know that China's
• 1:17
  digital yuan auto expires? Auto expires.
• 1:21
  Imagine the dollars in your pocket rotting like fruit.
• 1:24
  That's programmed obsolescence for your paycheck.
• 1:27
  If you put these headlines on a cork board and connect the red
• 1:30
  strings, you don't need Hollywood to surf you any doom.
• 1:33
  There's plenty of it right here. It's already in the news cycle.
• 1:35
  So if trust in the old rails is wobbling, what actually holds
• 1:39
  up? Are you familiar with Bitcoin?
• 1:40
  Bitcoin is not a Cape wearing superhero, but it's built
• 1:43
  different. For one, it fits in your head.
• 1:46
  In my head, a 12 or 24 word seed phrase can cross borders with
• 1:50
  nothing but a passport, and sometimes you don't even need
• 1:53
  that. This feature alone has immense
• 1:55
  value in the future when considering geographical
• 1:58
  arbitrage. Here's the thing, a lot of the
• 2:00
  people who have these kinds of attitudes come from families and
• 2:03
  from cultures where there has been a time in the past two
• 2:08
  generations where you leave in the middle of the night with all
• 2:11
  of your belongings in a pillowcase and with people with
• 2:15
  guns and dogs after you trying to murder you.
• 2:18
  And this happens today in Syria, right?
• 2:23
  It happens one generation ago to my parents generation in in
• 2:28
  Greece with the Nazis. And it happens to the Russian
• 2:33
  people. It happens to people all over
• 2:35
  the world. And when that happens, and it's
• 2:39
  it's really close when it happens generation before,
• 2:41
  right? Your parents tell you the
• 2:42
  stories. It's a it's a different feeling.
• 2:45
  It hasn't happened to most Americans in at least two or
• 2:50
  three generations. But when that happens, what do
• 2:53
  you put in the pillowcase? And I'll tell you something, the
• 2:55
  pieces of paper are worthless when that happens.
• 3:00
  And that's why some people do want to have physical coin Now.
• 3:03
  One of the things we've noticed now is that digital currencies
• 3:08
  may start to serve a role. The fact is that you can
• 3:13
  memorize 12 English words and carry your entire Bitcoin
• 3:17
  wallets in your head. And if you do that, well, you.
• 3:20
  12 English words. But think about the power of
• 3:24
  being able to transport an unlimited amount of money simply
• 3:27
  by memorizing 12 words that can't be confiscated from you
• 3:30
  when you're a refugee. It's amazing.
• 3:31
  I mean, look, the whole the whole idea behind it is
• 3:35
  incredibly fascinating to me. With Bitcoin, there's no
• 3:38
  permission to transact. Sign a transaction, bounce it
• 3:42
  off a satellite and it clears. Nobody's at a gate looking at a
• 3:45
  stamp, wondering if it's really you and all this talk about
• 3:47
  inflation. But as we know, Bitcoin has a 21
• 3:51
  million cap. One line of code puts an end to
• 3:53
  politicians increasing a debt ceiling.
• 3:55
  Just one line. Just just one little line.
• 3:58
  That's all. And probably one of the most
• 4:00
  amazing features of Bitcoin is its offline tools.
• 4:04
  The Internet, fortunately, does not have a centralized point of
• 4:06
  failure. In fact, the Internet Protocol
• 4:08
  was designed to route around parts of the network that are
• 4:11
  down, and the Internet was explicitly designed by the US
• 4:14
  Department of Defense to even be able to survive a nuclear war.
• 4:19
  You can certainly shut down parts of the Internet, and
• 4:21
  governments occasionally do this as a way of controlling their
• 4:24
  citizens net. bl.ocks.org is a great website to keep up on this
• 4:27
  and to see what repressive governments are doing with their
• 4:30
  local Internet worldwide. But even these repressive
• 4:32
  governments end up turning the Internet back on, not because
• 4:35
  they care about their citizens, but because all governments
• 4:38
  worldwide desperately need the Internet in order to function
• 4:41
  and to govern. This is one of the big problems
• 4:44
  with gold bugs. Their most bullish case relies
• 4:46
  basically on the end of human civilization, as if humanity is
• 4:49
  just going to roll over and say, oops, it's gone.
• 4:52
  Oh well, guess we're never again going to have electricity or the
• 4:55
  Internet. Now, an EMP attack caused by a
• 4:58
  nuclear bomb, for example, in the high atmosphere or solar
• 5:01
  flare, could certainly fry a lot of machines and possibly even
• 5:04
  cause a temporary global Internet outage.
• 5:07
  But when the electricity and the Internet comes back on, your
• 5:10
  Bitcoin will still be there waiting for you.
• 5:12
  That's because Bitcoin does not disappear when the Internet or
• 5:15
  electricity gets turned off, just goes into hibernation mode,
• 5:19
  a little bit like a cockroach. Both Bitcoin and the Internet
• 5:22
  don't have an off switch. They don't have centralized
• 5:25
  points of failure. And governments would need to
• 5:27
  coordinate in every single country on earth in order to
• 5:30
  turn off the Internet and then coordinate to make sure that it
• 5:33
  stays off. This seems very unlikely.
• 5:35
  It's a very tall order. The US, China, Russia, other
• 5:38
  large countries don't really coordinate on anything anymore.
• 5:43
  And you know, as we said, who really depends on the Internet,
• 5:45
  It's every single government in the world.
• 5:47
  But let's just assume that governments could shut down the
• 5:49
  Internet, keep them down for five years.
• 5:51
  You'd obviously have incredible chaos and a social crisis.
• 5:54
  But what would happen next if this in fact happened?
• 5:57
  What would happen is as soon as the Internet came back on
• 5:59
  anywhere, the Bitcoin network would be immediately resurrected
• 6:03
  and start churning out blocks. Is the Bitcoin networks data
• 6:07
  backed up securely? This is a question a lot of
• 6:08
  people ask when they first come to Bitcoin.
• 6:10
  In fact, it is thousands and thousands of copies.
• 6:13
  Copies of the Bitcoin blockchain in the UTXO set are found
• 6:16
  everywhere in the world, and it would only take one of those
• 6:19
  copies in order to restart everything.
• 6:21
  This is a map of all the Bitcoin nodes.
• 6:24
  All the reachable nodes are probably closer to 100,000 nodes
• 6:27
  once you count you count the the unreachable nodes, but each of
• 6:31
  these nodes has a full copy of the Bitcoin blockchain.
• 6:34
  Mesh Nets, blockstream, satellites, sneaker net on a
• 6:38
  cheap USB, whatever that is. Humanity would have to stop
• 6:41
  communicating altogether for this thing to die, and unless a
• 6:45
  cataclysmic event is right around the corner to take us all
• 6:48
  out, which actually it seems like it is.
• 6:51
  I think it's the apocalypse. Bitcoin will still be safe, and
• 6:54
  even if that cataclysmic earth cleansing event did occur,
• 6:58
  Bitcoin will still be safe. If a Bitcoin transacted in the
• 7:01
  woods and no one was there to hear it, would it make a sound?
• 7:04
  And now, deep thoughts. The soundest money since gold my
• 7:09
  friend. Here's a real quick word from
• 7:10
  our sponsors who just so happen to have everything you need for
• 7:13
  what I'm describing in this video.
• 7:15
  SAT 123.com. sat123.com keeps your signal alive.
• 7:19
  Satellite phones, Faraday bags, solar panels, everything you
• 7:23
  need in a crisis. sat123.com has got you covered.
• 7:26
  And if you go to sat123.com right now and you use the promo
• 7:29
  code simply, you get 15% off your purchase when the grid goes
• 7:33
  down. You don't want to be without
• 7:34
  signal. Go to sat123.com.
• 7:37
  Now this discussion actually begs the question, what happens
• 7:40
  to Bitcoin when the grid goes down all at once?
• 7:43
  Unlikely scenario, but what happens?
• 7:45
  How does the Bitcoin network stay alive?
• 7:47
  The engineering of Bitcoin is based upon proof of work Shaw
• 7:53
  256 hashing. So the network has evolved such
• 7:57
  that it uses something like 20 gigawatts of electricity, which
• 8:01
  cost $5 billion a year, running on $25 billion or more of
• 8:06
  semiconductor hardware. And that hardware is special
• 8:10
  purpose, single purchase purpose.
• 8:12
  It's like specialized ASIC chips.
• 8:15
  And why is that important? Because if it was CPU's, the
• 8:19
  network could be attacked by Google or Facebook or Microsoft
• 8:23
  that had more CPUs. And if it was GPU's, then it
• 8:28
  might be attacked by the AI data centers.
• 8:31
  But because it's it's Shaw 256 ASICS, those other types of
• 8:37
  semiconductors can't be used to undermine the security of the
• 8:41
  Bitcoin network. It is, Simply put, the most
• 8:43
  powerful computer monetary network, and maybe the most
• 8:48
  powerful computer network in the world.
• 8:50
  If you if you calculate power using the Shaw 256 hash in a
• 8:55
  running 600 XA hash, you can't dent it with all the other
• 8:59
  computer power in the world. So just just to clarify, there
• 9:02
  is like a place where they have all of this hardware and data
• 9:06
  and no one I'm guessing has any idea where it is?
• 9:08
  No, it's better than that. The network is decentralized.
• 9:11
  If there was a place, it would be fragile.
• 9:13
  You don't want it to be in one place.
• 9:16
  It's an open protocol, which means that anybody in the world
• 9:19
  can run a Bitcoin mining rig and anybody in the world can run
• 9:23
  Bitcoin nodes. So imagine 10s of thousands or
• 9:27
  hundreds of thousands of nodes and millions and millions of
• 9:32
  different Bitcoin mining computers spread across
• 9:34
  thousands and thousands of locations in Russia and China,
• 9:39
  in Africa and South America and Australia and North America and
• 9:44
  Iceland and Scandinavia everywhere.
• 9:47
  And imagine that's shifting all the time and no one can stop it,
• 9:51
  right? It's a it's kind of like, where
• 9:54
  is the cold virus in the human race?
• 9:57
  Bitcoin only needs one powered node to keep an updated copy of
• 10:00
  the chain in that region. Hash rate could crash 90%, but
• 10:05
  the protocol still responds every 2016 blocks.
• 10:09
  You know, every two weeks. The network breathes,
• 10:11
  recalibrates, and plods on. Humans are stubborn, man.
• 10:14
  Miners chase block rewards whenever a generator hums.
• 10:17
  Merchants will accept something that still verifies on a phone
• 10:21
  once a week. You give people hard money and
• 10:23
  they'll my guard with the plumbing.
• 10:25
  Well, what about $5 wrench attacks?
• 10:27
  Or, in the context of this video, zombie $5 wrench attacks
• 10:32
  while you split your back up half at mom's or whatever
• 10:34
  convenience store you've decided to squat in, and the other half
• 10:37
  might go in a safety deposit box and another jurisdiction.
• 10:40
  In this scenario, multi cig is your friend.
• 10:42
  Now, some argue that no Internet equals no payments, but the
• 10:45
  barter system is much, much slower.
• 10:48
  I'd rather wait an hour for a block to clear than a week for
• 10:52
  someone who wants my flashlight and also has AA batteries.
• 10:57
  So the question is, which one will keep you alive longer, the
• 11:00
  sats or the shelves? Let in the magazine or words in
• 11:03
  your mind? A weapon will likely come in
• 11:05
  handy during a crisis. I'm not saying get rid of your
• 11:07
  weapons, but like any other item you might collect in your
• 11:10
  Resident Evil save chest, if it lives in the physical world,
• 11:13
  it's subject to all the limitations therein, be it
• 11:16
  damage, theft, or just plain user error.
• 11:19
  Bitcoin definitely has its drawbacks, but in this future
• 11:22
  you'll likely be able to secure more life for you and your loved
• 11:25
  ones than a Desert Eagle could. Man, was that not the premier
• 11:29
  weapon for dropping zombies? Oh, to be 16 again and playing
• 11:33
  video games on my futon. I love that weapon.
• 11:36
  How about you? What's your crisis strategy?
• 11:37
  Let me know in the comments below.
• 11:39
  And one extra insurance policy now while the grids are OK.
• 11:42
  SAS mining.com. SAS mining.com takes renewable
• 11:45
  energy, hydro, solar, and even methane, and they spin it into
• 11:50
  fresh sats without you babysitting A noisy rig.
• 11:53
  If the grid limps back tomorrow, you're already hashing.
• 11:55
  Go to sasmining.com and book a call with one of their expert
• 11:58
  team members and start mining today and not tomorrow when
• 12:02
  everything falls apart. Thank you so much for watching
• 12:04
  this video. I hope you liked it.
• 12:06
  If you want to see more content like this, go to the Simply
• 12:08
  Bitcoin channel and hit that subscribe button.
• 12:10
  You can hit the like button as well.
• 12:12
  Right below you can drop a comment, whatever you want to
• 12:15
  say, I'm all ears. Unless you're like a bot that
• 12:18
  wants to sell me X5499-A. What a great coin that one is.
• 12:25
  Don't forget to hit that notification bell.
• 12:27
  Imotions. This is beyond Bitcoin.
• 12:30
  Until next time.