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The Year 2038 will cause nearly every modern computer to stop working if we don't prepare for it. This isn't because of some massive virus or degrading hardware, it has everything to do with how we keep time.
Nearly every computer in the history of computers keeps time using a 32-bit integer counting forward from 00:00:00 UTC on the 1st of January 1970, referred to as the epoch. This instant of time was set as the standard for modern computing systems, but there's a major problem. Seven seconds after 3:14 am UTC on the 19h of January 2038, the 32-bit integer storing this time data will run out of positions.
The problem is similar to the Y2K issue where a 2-digit value could no longer be used to encode the years 2000 or later, but different in that this 32-bit bug is related to Unix-like systems and the Unix time format.
These similarities to the Y2K bug have widely lead to the 2038 problem being known as the Unix Millennium Bug.
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