Bitcoin and Ukraine war - page 2. | Bitcointalksearch.org

pooya87

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Quote from: Vaskiy on March 07, 2022, 07:05:23 PM

What we can see with the ongoing war is the transition. Countries that depend Russia for oil will now think of green energy and will be developing infrastructure. Every nation could've done this earlier.

They have been doing it. Trillions of dollars have already gone into going "green" but the problem is that these methods are not enough to provide the energy the world needs and worse thing is that many of these so called "green" methods are damaging the environment a lot.
The truth is that the world will continue relying on fossil fuels for the foreseeable future and whenever there is any kind of shortage, the prices will soar.

Kakmakr

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So, everyone are saying that the war (political instability) are causing the drop in the price, but how do they explain the increase in demand for bitcoins by the Ukranians to protect their wealth from Banks and also Russian people trying to protect the value of their wealth against possible hyper inflation in the future?

I think a large amount of institutional investors got a bit trigger happy and they started a ripple in the pond... by dumping a lot of their coins in the early stages of this conflict between the Ukraine and Russia. Roll Eyes

davis196

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Are you seriously asking why the oil price is going up?
There are concerns about Russia cutting the oil supply to Europe.Reduced supply+higher or static demand means a higher oil price.This is just law of supply and demand.Bitcoin has nothing to do with this.
The western investors might not like buying Bitcoins,because a big percentage of BTC miners are located in Russia and Kazakhstan,which means that Russia might try to crash the BTC price,by imposing a ban over the BTC miners.However,this is just a hypothesis.
Gold and commodities will beat BTC as a safe heaven assets and more speculative investors will forget about Bitcoin(for a while) and jump on the commodity markets.I hope that Bitcoin will start growing after the war is over.

ChiBitCTy

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I think it’s mostly seen as a higher risk asset like the stock market right now. It’s going to take time to become a better safe have asset. That being said, in years past bitcoin had been through much worst and things would have been much worse but I feel that things have stayed relatively stable all things considered.

iamsheikhadil

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It might be that people who already invested in Bitcoin in the war-involved countries are selling because as you said, there is uncertainty in their minds about outcome of prices in future in this war, but I think Bitcoin is too big to be impacted by such and hence it is just following its usual trend which is bearish at the current moment, also, not everyone knows about Bitcoin in those countries so the volume of buying and selling of Bitcoin in there might be too small to make a significant impact!

Fundamentals Of

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The use-case of Bitcoin is more emphasized during times of war when banks are not functioning, ATMs not refilled with cash, streets abandoned, and people are evacuating. The transfer of wealth from one country to another is easiest with Bitcoin. You cannot easily cross international borders carrying with you a massive amount of cash. Not to mention that in times of war, the fiat currency of affected countries will fall because of the unstable economy and sanctions.

bitterguy28

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Quote from: Daryl_Dixon on March 07, 2022, 04:46:42 AM

The bitcoin market has also been affected by growing concerns about Russia's invasion of Ukraine.
But Bitcoin has been falling in the last 24 hours and is currently trading at around $ 37,794.
But the oil situation is quite the opposite. Just look at the price of oil and realize that this war has had a huge impact on the price of oil and safe-haven assets like gold.

whether Bitcoin is affected, or OIL or even the Gold? still there are effect for the world and the crisis still on so best to dedicate our investment now in real business. i mean let our funds stays in crypto and some other funding go to real life like food businesses or some practical things that can make us earning while waiting .

Jawhead999

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Quote from: Daryl_Dixon on March 07, 2022, 04:46:42 AM

So it is natural that most people, because they do not know the reaction of bitcoin, turn to other assets such as gold and oil.

Before making a point, you to do own research first. Look at gold price [1] it's decrease not increase. This mean Bitcoin, Gold, Fiat (Ruble) price is decrease because those asset are purposed to store a value and currency. If the war become bigger entire the world, those asset will become worthless since there's no demand about that. They're looking for foods and any other stuffs to survive during the war.

Why does Oil price increase? because anyone need oil for their vehicles, produce electricity etc.

[1] https://goldprice.org/spot-gold.html

Slow death

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the bitcoin price is fluctuating normally, the war doesn't seem to be having a big impact on the bitcoin price, just seeing that the price is stagnant between $37000 to $44000, in my opinion people are worried about saving their life, the support that the international community is giving is support in material goods, and bitcoin is being used less in this situation so the price is not being affected, I heard about the donation of 37 million in bitcoin. but that's all I've read. I didn't see any other news in which it said that bitcoin is being useful in this time of war

suzanne5223

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Quote from: Daryl_Dixon on March 07, 2022, 04:46:42 AM

The bitcoin market has also been affected by growing concerns about Russia's invasion of Ukraine.
But Bitcoin has been falling in the last 24 hours and is currently trading at around $ 37,794.
But the oil situation is quite the opposite. Just look at the price of oil and realize that this war has had a huge impact on the price of oil and safe-haven assets like gold.

I hate it when you guys believe the Russian and Ukraine conflict is the only reason why Bitcoin is experiencing some market dump in price whereas the market is always volatile in nature and the market is already in the realm of high volatility in price before Russia and Ukraine issue happen.
Have you forgotten there always be both sides of price movement after the halving effect market before blood bath?

GreatArkansas

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Quote from: Daryl_Dixon on March 07, 2022, 04:46:42 AM

In my opinion, because of the war, most people avoid high-risk assets such as bitcoin and other digital currencies!
(....)

I am really curious why are most people avoid high-risk assets? Just like Bitcoin. I really don't find any reason for it. Because when I think of it, especially the use cases of Bitcoin, it is the best time to use Bitcoin or other digital currencies right now. It's more on use cases for me during these difficult times other than investment.

Vaskiy

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What we can see with the ongoing war is the transition. Countries that depend Russia for oil will now think of green energy and will be developing infrastructure. Every nation could've done this earlier. If so, now they shouldn't need to wait for Russia or other countries for oil. As majority of the countries untied and made sanctions on Russia, surely it will cause issue with the oil price. Probably the oil rich countries will fix the price whereas people from third world countries will suffer.

sunsilk

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For bitcoin, whether there is war or no war, the price of it is going to fluctuate no matter what and it's an unknown movement that we're going to see at most times.

As for oil, there's the same factor with bitcoin that they move together and that is with the supply and demand. As supply becomes cut as most exporters AFAIK, they're getting crude oil in European part/Russian part and we all know what's with the heat there.

It's a domino effect.

verita1

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It is evident that the Russian sanctions are related to the occurrence of an increase in the price of oil and gas. There is fear of a possible embargo of Russian oil by the United States.

There are those who are investing to take advantage of the rise in oil and are probably selling bitcoin to make these investments.

The impact of the Ukraine-Russia war that will have serious consequences in one way or another we will be affected.

Elon Musk in a tweet said:

Quote

Hate to say it, but we need to increase oil & gas output immediately.

Extraordinary times demand extraordinary measures.

https://twitter.com/elonmusk/status/1499907549746937860?t=DV7DIyLbeSK7rpTOmmkchQ&s=19

BlackHatCoiner

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TLDR; you can't explain the fluctuations.

Quote from: PrivacyG on March 07, 2022, 09:15:29 AM

I definitely agree. But look at Shiba, Dogecoin and GameStop for a minute. See what NFT's did. With enough sheep, you can move a freaking mountain. Apparently even if it's made of crap.

There are hundreds of these "mountains" waiting to be moved, but they never do. Only one lucky achieves it once in a while for an irrelevant reason. You can't know what the hell is gonna catch your fishing rod, but you should definitely not expect to catch a big fish. Pretty much the opposite; if you invest in the next dog coin, be prepared to even lose your boat.

I don't know what a trader should do, but if I did the job, I honestly wouldn't get involved with cryptocurrencies at all. I presume trading requires low risk orders, which will increase your income if you do it for a living.

usekevin

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Quote from: fiulpro on March 07, 2022, 01:29:58 PM

People don't have access to things like visa and master card, even the Google pay is not working in Russia, the sanctions are coming really hard and at the end of the day this is not looking good, therefore people are now switching onto bitcoins since bitcoins as a whole cannot be sanctioned!
Both ukranians and Russians are using bitcoins to tackle the economic probelms therefore I do think that this is going to be a great place for people who are already used to bitcoins and cryptocurrencies. The banks in Ukraine are not giving enough cash out and the only reason I escaped from there was because I had some money in Bitcoins!!! It's great!! Honestly! Leave oil and other safe assets, nothing is safe right now we are in a war.

If the oil price is increased, it mean the Russia playing a game behind it. Because Russia want money for the war. Only if they sell oil with increased price, they can win some good money. Instead of pulling on gold and oil. It's better to inverse in digital currency. Now bitcoin price is very low and can't get this value in future. So buy huge amount of bitcoin and hold for longer to get good profit.

Henrobakkara

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Quote from: amishmanish on March 07, 2022, 01:56:30 PM

Demand and Supply in case of Oil. Wars need oil to run. Lots of it. There was a several miles long convoy of Russian millitary trucks stuck in Ukraine due to lack of oil. Every piece of armor and aircraft needs it.

I believe it wasn't just all about their fuelling which I think Russian would have been able to handle because I think they have abundant of it, I believe it is largely because the Ukrainian army has destroyed the Bridge that those Russian military convoys ought to have used to advance and now they are stuck at the main time. I do however believe that bitcoin did have some more publicity during this time and that's good too.

hatshepsut93

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I think the biggest problem is that Bitcoin is in a bear market, and people dump it because there are more lucrative opportunities at the times of this war, like oil or gold. If Bitcoin was in a bull market, the safe haven narrative would have been much stronger.

amishmanish

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Demand and Supply in case of Oil. Wars need oil to run. Lots of it. There was a several miles long convoy of Russian millitary trucks stuck in Ukraine due to lack of oil. Every piece of armor and aircraft needs it. On the other hand, the supply gets severely restrained due to obvious geopolitical reasons and everyone trying to hoard more of it.

The world knows that when war hits, you conserve fuel.

In case of Bitcoin, there hasn't really been any defined trend. Crypto rose overall after traders longed on the speculation that Russia may use Bitcoin to circumvent the bans on its banks. It again got a lot of positive press as crypto donations kept pouring in.

This suddenly changed when people realized that a lot of people are in there just for the "airdrops", lol. After an announcement to this effect, lots of spam and small transactions came flooding in. I guess that says something about the space and the subsequent dip.

fiulpro

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People don't have access to things like visa and master card, even the Google pay is not working in Russia, the sanctions are coming really hard and at the end of the day this is not looking good, therefore people are now switching onto bitcoins since bitcoins as a whole cannot be sanctioned!
Both ukranians and Russians are using bitcoins to tackle the economic probelms therefore I do think that this is going to be a great place for people who are already used to bitcoins and cryptocurrencies. The banks in Ukraine are not giving enough cash out and the only reason I escaped from there was because I had some money in Bitcoins!!! It's great!! Honestly! Leave oil and other safe assets, nothing is safe right now we are in a war.

Topic: Bitcoin and Ukraine war - page 2. (Read 437 times)