Cryptocurrencies will live as long as internet lives

Today I was having a conversation about cryptocurrencies with one of my colleagues. They are very new to crypto and mostly they argue that crypto is not ready for the world yet the first argument that comes from them is that crypto is only for gambling stuff and not for any real-world needs. It takes a very good time to explain to them the good benefits of crypto and how someone can make a business on top of crypto. They still don't believe in the potential of cryptocurrencies and blockchain technology.

I started to have a conversation first explaining the good things about blockchain technology. It is a fact that only when people understand the potential of Blockchain technology, they would be able to appreciate cryptocurrencies and understand that not all cryptocurrencies are scams. But still, it is hard to make them understand all the blockchain concepts. When the conversation was going in this direction, that is when this biggest question came. What if suddenly government bans cryptocurrencies and all the blockchains disappear?

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I understand that it is a stupid question. But honestly, it is only a stupid question for people who already know about cryptocurrencies. For someone very new to crypto, this is a perfect question and I would also say that this is an obvious question. I also remember someone saying that they withdraw all their crypto earnings to FIAT all the time because they fear that blockchain would stop working someday and would disappear. I asked them "Was that not the case with FIAT and banks too?". There is a high possibility, right? Even the digital money that we hold in the banks can suddenly go missing or the banks end up in huge loss and they might have trouble giving back our money right.

Crypto lives when the internet lives

This is the explanation that I wanted to give my colleague. As long as the internet lives, cryptocurrencies will also live. Most blockchains are based on node operators and anyone capable of running the blockchain node can keep the blockchain alive. Even if some node operators have trouble, only 20 people are required to keep the node alive in the case of the Hive blockchain.

Not all regulations are the same across countries. Even if one country decides to ban cryptocurrency, there is a high possibility that another country might still permit the use of cryptocurrency and there will be a node operator running the blockchain for us. This is how the blockchains would keep going. As long as there are rewards for running nodes, there will always be people who would be interested in running nodes. Some people even run it on their home network with their grid at home. This is the best thing. With the power of the internet, even if people want to keep their IP address not traceable, it is also possible and nobody would know from where the node is being operated.

Even if there is a world disaster and the blockchain stops everywhere, anyone can spin up a node and keep the blocks going forward. Stopping a blockchain and its transaction is something that cannot be done by just individuals or governments. It is very hard to do something like that.

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