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Why is bitcoin losing value at a time of conflict? Isn't it intended to do the opposite?
And there should be a cyber attack too.
Topic: Bitcoin and international conflict - page 4. (Read 605 times)
And there should be a cyber attack too.
Pretty simple, if you're from a region that has conflict, you're better off with fiat
Actually in case of that what you need is food and shelter because neither fiat nor bitcoin are going to prevent starvation or stop bullets. Not to mention that you can't really store large bags of cash in your home because the banking system is going to be the first that will get hit. You can see how Russia performed a large scale cyber warfare against Ukraine over the past couple of days that included hacking their banking system. Meanwhile bitcoin is not and can not be affected by this.
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Why is bitcoin losing value at a time of conflict? Isn't it intended to do the opposite?
Pretty simple, if you're from a region that has conflict, you're better off with fiat than bitcoin so you trade that bitcoin for fiat and hopefully it would be enough for you to survive for awhile at least until the aides and help come which might take a long time because in a war, most resources are focused on offensive and defensive efforts of the country. Quote
Why is bitcoin losing value at a time of conflict? Isn't it intended to do the opposite?
What I believe:
It depends on your perspective, whether short- or long-term.
Bitcoin is not and has never been immune to short-term hysteria.
Bitcoin benefits in the long run from efforts to shut out whole countries from the international correspondent banking system.
Obviously, I am on the side of the excluded, i.e. the misfits. My good buddies are all financial misfits!
How do you feel about this?
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