Bitcoin Could Be More Resilient to Global Electric Failure Than Banks

What if the world was hit with another major disaster, but this time, it included global electrical failure? Would Bitcoin (BTC) survive, would it thrive, what about the banks? — We have the answers.

Bitcoin consumes massive amounts of electricity and with the constant growth of the network, this number will only increase. The Bitcoin protocol relies on the internet for communication. Thus, if all of a sudden, if there was a disruption to the world’s electric grids, one might conclude that this would doom the cryptocurrency.

Bitcoin Energy Consumption Relative to Countries. Source: Digiconomist.

Bitcoin doesn’t need Internet

However, Andreas Antonopoulos disagrees. He believes that the decentralized nature of Bitcoin in combination with its ability to rely on alternative communication modes, would prove it much more resilient than the traditional banking system:

“In fact, I would predict that if we did have a massive electric failure or natural disaster that damaged…