Bitcoin Can Potentially Unseat Google, Declares Pundit Following Global Outage

Spread the love

At 12:00 pm UTC on Monday, Google users experienced a shut down as the company’s services were inaccessible for a short period of time. Although at 12:30 pm UTC the services were back up. This still did little to suppress the massive impact that the 30 minutes service outage had caused globally. Users all over the world were quick to take to social media platforms like Twitter to express their inability to access YouTube, Gmail, Google web, Google Docs, and other related services.

Crypto-Twitter Weighs in

Crypto-Twitter was as usual not left out of the bunch as commentators and Crypto-Twitter personalities had a thing or two to say about the event, while others made noteworthy comparisons about both Google and Bitcoin. Meme lovers came in with the jokes, as usual, making slight jest of the service consumers, while others noted that Bitcoin’s decentralized nature could perfectly fix this problem.

One of the most notable takes was from CNBC’S Ran Neuner whose tweet hammered on the relevance of Bitcoin as a disruptive technology with the potential to easily unseat Google as it can already replicate most of Google’s existing services. The decentralized state of Bitcoin is also a plus in terms of reliability and transparency. Neuner noted that in terms of advancement, Bitcoin still seats in the first place despite Google lying on a market capitalization that holds an $844 billion value greater than Bitcoin’s current market cap.

RECOMMENDED READ:  Bitcoin HODLers are offering, are you going to buy?

Meanwhile, Bitcoin’s price was also not spared during the time of the shutdown, some commentators noted. According to the observers, prices took a decline and later made a correction immediately the glitch was fixed. But some Bitcoiners disputed this claim and attributed the fluctuation in price to regular market volatility.

Centralized Platforms may still have a major impact on Bitcoin

Regardless of what the case was, this could be an important reminder of the external effects that outages from centralized organizations like Google can have on decentralized assets like Bitcoin.

Like it or not, centralized tech platforms still possess a generous amount of control over Crypto-accessibility. Platforms like YouTube and Google search engine still play a significant role in accessing content, information, and applications centered around cryptocurrencies. In a situation that global users cannot access these platforms, the prices and overall value of crypto-assets like Bitcoin may actually suffer.

RECOMMENDED READ:  A data dive into Bitcoin’s second quarter of 2020

Although this reinforces the need for the decentralization that Blockchain brings to the web, competing against big dogs like Google will consume a good number of time and resources. Nonetheless, the future presents a generous room for an attempt.

 328 Interactions,  8 today

READ ALSO:
Romanian university intends to consider cryptocurrency payments for admissions fees.

The academic college, which has about 11,000 students, stated that the inclusion of crypto payments was part of a campaign Read more

Bitcoin Price Movement Analysis for 11th April, 2021

Is Bitcoin nearing its peak? It's unlikely. Many on-chain measurements revealed that, although Bitcoin was highly bullish, it had not Read more

Fidelity’s Tom Jessop on why Crypto has reached a “tipping point.”

The crypto market has gained traction as a result of low interest rates and fiscal stimulus, according to a Fidelity Read more

How arrests for attempting to obtain a hitman and a nuclear bomb demonstrate that the dark web is not always anonymous.

Paying with cryptocurrency does not guarantee your safety. Most of the criticisms levelled at cryptocurrencies is that its difficult-to-trace existence Read more

The cryptocurrency market cap has surpassed $2 trillion, making it as valuable as Apple.

For the first time, the total market value of all cryptocurrencies exceeds $2 trillion. According to Goingecko numbers, the total Read more

Why crypto analyst Ben Armstrong says, ‘He Very Confident Bitcoin Will Reach $300K This Year.’

Recently, blockchain expert and influencer Ben Armstrong mentioned Bitcoin in a video posted to his highly popular YouTube channel “BitBoy Read more

Binance Coin, Dogecoin, SushiSwap Price Movement Analysis for 4th April, 2021

Binance Coin predicted that fresher record thresholds will be set in the coming days due to solid technicals. Following a Read more

Tron Price Movement Analysis for 4th April, 2021

In the cryptocurrency industry, excessive uncertainty has had a long-term effect on the price of the digital commodity. This uncertainty Read more

Ethereum Price Movement Analysis for 4th April, 2021

Ethereum, the second-largest cryptocurrency, has entered a volatile zone, which could drive the digital asset's price even higher. In the Read more

Chainlink, DigiByte, Enjin Coin Price Movement Analysis for 4th April, 2021

Bitcoin faced some selling pressure just above the $59k mark, leading it to slip to $56,600. The majority of the Read more

Bitcoin fell by more than 4%, causing many other cryptocurrencies to plummet drastically.

The world's most expensive cryptocurrency fell 4.1 percent, bringing several other coins down with it, sending the economy into the Read more

Leave a Reply

Contact Us