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>Bitcoin and ethereum are still up and processing blocks with little regard to what is happening in the financial system. Those are internal database tasks. I'
by sbierwagen 4y ago
>Bitcoin and ethereum are still up and processing blocks with little regard to what is happening in the financial system.
Those are internal database tasks. I'm sure the IT staff at Lehman Brothers could have run defrag jobs and swapped backup tapes until the Sun went out. That wasn't the problem at Lehman.
The bitcoin network can process blocks when a bitcoin is worth $10,000 or $1 or $0.00001. The problem is that in the last two cases, economically, nobody would care if bitcoin is still processing blocks.
- andirk 4y agoWhen BTC was trading at 1USD, there was an alive and vibrant community making it all work. Your point is sound almost regardless of fiat price. Here's a 2011 @ 6USD interview https://youtu.be/Ta73DofiT7o https://youtu.be/Ta73DofiT7o