I think this is a well thought out argument and in many ways, I agree with what you say, but, it would then follow that Bitcoin and crypto would also be worthless as there would be likely no coherent internet. If the whole of big business, government and banking collapsed and humanity became more sovereign, why do so many people assume the internet and all global communications networks will stay running? Not to mention all our phones and gadgets.
With a breakdown as you describe, there would be a return to the dark ages. A better alternative is needed.
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I agree crypto would take a dive in a money crunch. Bitcoin is a better experience than cards for me. So if it never went up again I wouldnt care.
The whole issue of Crypto though is that it needs the internet as a backbone to function. This is its achilles heel. The WWW is governed and controlled, how can this be addressed to make Crypto a more robust tool for exchange?
Soon, it will be easy to create non-polluting, continuous electric plants for small communities.
And, a comptuer network everywhere on earth will be discovered.
Okay. We need something that can run on sneakernets
Seriously it is a grave problem but do you mean the web or the Internet? If the government starts mandating websites demand a digital id, then it will be like this: The most popular websites will demand login to view. These most popular are google, facebook, reddit and x. Face and x already require login to just view things. How long till reddit follows suit? Google might be last for search. Once logins the others might start demanding real names. X is already there for paid accounts. Facebook has always asked for real names.