While thinking about the possible attacks against bitcoin holdings the threat of Electro-Magnetic Pulses popped up. So my questions are:
1. How susceptible are bitcoin holdings to Electro-Magnetic Pulses (whether they be highly targeted or a more generalized attack)?
and
2. What are some of the possible defenses?
Thanks,
Trader Steve
Individual wallets are susceptible if an EMP is strong enough to damage primary storage. Backups that are on media that isn't susceptible (which, I believe, includes flash drives that are not receiving power at the time of the pulse) would of course survive.
Because the transaction network is quite decentralized EMP would have to hit pretty much the entire planet to actually destroy it, though a more local EMP (such as an entire major technological country) would probably screw up a lot of mining, thus at least temporarily slowing down block generation quite a bit.