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Re:Protecting your capital during a war by pydry on Monday February 08, 2021 @07:11AM (#26063444)
If countries start segregating the internet doesn't this break the cryptocurrency model?

https://www.euronews.com/2019/02/12/russia-planning-to-disco...

How would bitcoin work if, say, half the network couldn't talk to the other half?

Re:Protecting your capital during a war by eMGm4D0zgUAVXc7 on Monday February 08, 2021 @07:15AM (#26063472)
Bitcoin, and probably any other cryptocurrency, uses flooding [1] to propagate transactions.

So it would be very difficult to prevent transactions from leaking out of or into the isolated zone:

A single peer in the whole country which is connected to the outside would be enough to leak all transactions.

[1] https://en.wikipedia.org/wiki/Flooding_(computer_networking)

Re:Protecting your capital during a war by pydry on Monday February 08, 2021 @08:28AM (#26064113)
How do you prevent double spend in the intervening period?
Re:Protecting your capital during a war by exit on Monday February 08, 2021 @09:01AM (#26064514)
the risk is that a transaction you've accepted gets invalidated by a competing spend of its inputs in a chain coming out of a different "network zone"

so you wait for more block confirmations

Re:Protecting your capital during a war by xorcist on Monday February 08, 2021 @07:44AM (#26063712)
If it is a valid threat model I don't know, but there are people streaming Bitcoin blocks over satellite for this very reason. So it is likely two islands of the network would be reconnected, provided that any one node is relaying blocks in this way.
Re:Protecting your capital during a war by vslira on Monday February 08, 2021 @08:02AM (#26063868)
I'd really like to see a serious analysis about the viability of a government, or an alliance of governments, to block / split the btc blockchain.

I find it hard to believe the US couldn't really do it if it wanted to, or even China (since most btc is mined there), but details like these make me wonder. Does anyone have any interesting material to read regarding this?

Re:Protecting your capital during a war by exit on Monday February 08, 2021 @07:27AM (#26063568)
blocks can be broadcast over any communications medium. the shared state of the ledger would be smuggled in via any means necessary, from radio to messenger pigeon.

this remains true if retail payments migrate to second layer solutions. the important thing is sharing the same base layer anchor.

block confirmations would have to increase to mitigate the likely orphaning of chains coming out of different zones.

it's a good example of why achieving its civilisational infrastructure goals requires lightweight blocks.