4 ms·
At least not centralised cashless transactions. A mesh network using some kind of crypto is even better at avoiding government interference than cash.
by jkoudys 7y ago
At least not centralised cashless transactions. A mesh network using some kind of crypto is even better at avoiding government interference than cash.
- bowmessage 7y agoDon’t all cryptos rely on a global network consensus for operation? How would Kashmir’s forked chain resynchronize with the larger chain once back online?
- jkoudys 7y agoMesh networks can still connect up to the internet. "The internet" is a concept and isn't really owned or controlled by anyone. It's more about the ledger itself being distributed. It'll definitely be much slower. though.
- pjmorris 7y ago"The internet" may be a concept, but the router your part of the mesh connects to is a physical machine that may be out of power. The GP's questions remain valid and unanswered.
- impeachTheIdiot 7y agoIt’s not valid. Mesh networks can cross boarders to hook up to another country’s internet. The GP should have done some research before asking a question with an obvious answer.
- AstralStorm 7y agoIt doesn't work. It is still relying on centralized internet architecture we have. Mesh nets with singular remaining internet access would crumble under the load too. I guess a lot of economy instantly switches to IOU, barter and banknotes. (Including gold and other assets for the rich.) The old and tried ways.
- jarfil 7y agoBitcoin has a Lightning Network which can work independently and only uses the main blockchain to settle disputes, so it could keep operating for as long as there was non-disputed capacity left in the isolated segment. Adding capacity would require some way of accessing the consensus, but it could be done by the parties updating their blockchain by just importing new blocks from a trusted source (not necessarily the same), like a friend with a USB drive.
- kerkeslager 7y agoIf the government wanted to cripple cryptocurrency in a country, all they'd have to do is turn off the electricity. Sure, some people would have off-grid power, but enough to have a reasonably functioning economy? Unlikely.
- impeachTheIdiot 7y agoUmm... it’s more unlikely a country would shut off its own power.
- AstralStorm 7y agoNot even that, it's enough to take down a few backbone routers. The same reliability that prevents forging it would break any used cryptocurrency in two, if it even works at all.
- ashleshbiradar 7y agoHaha, cryptocurrencies are banned in India, anyone found dealing with them can be jailed up to 10 years.
- jarfil 7y agoExcept that's false. Only RBI certified institutions are forbidden from trading in crypto, everyone else is free to do as they please.