It's not really a warning from NASA, it's just a  NASA's Parker Solar Probe (PSP) has launched to study in case if such incident happens and the chances of solar super storm is possibly to attack which is only has the chance of 1.2%.

Well, if that happens and internet went down all over the world the price of Bitcoin will take hit and probably even goes to zero but I want to remind you that the banking system will not be efficient as well even though we have physical currency still most of the paper money is just in the digital form and without internet the cross border transactions will be almost impossible so as Bitcoin the fiat system also will take big hit.

Heavy solar storms can happen especially when solar activity is up. Now with the ongoing 25th solar activity cycle there will be again some doomsday news and whatnot. As space is vast the likelyhood is rather low that a massive Corona mass ejection event (CME) will actually hit earth, but shit can happen.

If our infrastructure can't cope with it, so be it. Something of the magnitude of the Carrington Event is rather rare. There have been CMEs of dangerous magnitude sampled and observed by the Parker Solar Probe but which missed earth (fortunately!).

Satellites might get damaged but that's not the end of the Internet.

These things always looks so beyond our lifetime and future that we never guess that it would happen nowadays. I feel like even if it does, I would probably not be ready for it, and I am guessing neither would billions of people would be neither. Sure it looks like we are going to go through a risk of this, not guaranteed to happen but there is a risk for it, but I will probably not really do much about it. All of my work is online, hell THIS is a work for me, after all I am getting paid to write here, there is no secret there, every one of us are getting paid to write these, we can't do that if there is no online world, no tech, no nothing like that. I will be just fish out of water, trying to survive, it would be horrible. But I still don't believe we will go through this, and won't get ready for it.

I don't think the internet shutdown of a thing is ever going to happen, and even if it does, it won't take much time for it to get resolved. The world is more technically advanced where there are preparations for unforseen future issues.


This present generation is so attached to internet usage that the banking sector is no exception. If the internet goes down in any way today, the banking sector will also be affected. It will cost them a lot of money to go back to the traditional and local ways of executing transactions and the old-school way of recording. Now data is being backed up in an online cloud, which requires the use of the internet in order to be accessed. Both inter-banking and international transactions will also be affected by the internet shutdown because the internet is needed to send and approve requests for those transactions.
 
Going back to the old ways of going straight to the bank and making a cash withdrawal, which will cost you almost your whole time, where the accountant will have to be opening files upon files just to find your data where it's being recorded,
 
 

Well, you are wrong by saying it will not impact the traditional Banking system. All client data are stored digitally .. they do not keep records on paper anymore. So they are not going to continue as normal... when the Solar storm hit them.

To protect emergency backup electronics such as a radio or laptop, put them (unplugged) inside a sealed cardboard box, then wrap the box completely with aluminum foil. If only one person does that.. then the Blockchain can survive. We will get advanced warnings before it happens, so a lot of people will be doing this.... to protect their electronic equipment. 

Transactions in fiat is heavily reliant on the internet. Majority of transactions today are made through credit cards, direct mobile transfers and USSD codes. If there was an internet black out the damage will be huge on the banking system.
Even the cash transfers are heavily funded by mobile banking to make the cash available at ATMs and POS stands.

Within a few days there will be such a crisis and more people will begin hoarding the available cash they have a hand.

It will certainly be a disadvantage. There has been some alternative means of transacting with Bitcoin that have been discussed but none on them can replace regular transfers using the internet to broadcast the transactions.
Maybe at such a time efforts to get an alternative will be intensified, but pending when that happens it will negatively affect price and possible halt all trades.

Where did you see the news? It is important to always share links whenever you make reference to a news.

The banking institutions also depend on the internet, and they will be affected too but to the same degree as cryptocurrency will.

It will be affected of course, but this warning about an Internet Apocalypse has been called fake. Nothing like that will happen.

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https://www.space.com/sun-solar-storm-internet-apocalypse-debunking

How do we verify there is even a solar storm? Seem a very self-fulling forecast in the future where if the government wants to do something they could just lie about it and let the people know it's something only NASA knew.

But are the internet connection under the seas where there are huge cable wires down there connecting all the computers around the world? Sure that storm wouldn't scratch a butt.
https://www.mentalfloss.com/article/60150/10-facts-about-internets-undersea-cables#