Bitcoin becomes priority alternative when cash fails

peter0425

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Quote from: suryana on March 27, 2022, 08:54:35 AM

of course this will also be a solution if the cash transaction fails then we can switch to bitcoin or digital currency, with an unlimited withdrawal or deposit process of course this is the main attraction for miners to continue to be in the crypto world for a period of time long, so that bitcoin can provide convenience in carrying out a transaction if it fails to process cash

and in the next years ? transaction will ne ore easier in crypto this is why sooner we will see more and more adopter will come and support will increase eventually . and also it will not be a alternative besides crypto will be the next big thing that will explode in terms of payment and transactions .
expect that to come any time soon , maybe in the next year or at least 5-10 years from now when the world accept this as currency and not another scam word to explore .

Silberman

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Quote from: uneng on March 24, 2022, 11:31:20 PM

I'm not so sure about this, because during a war, the first targets are the communication channels, besides the military centers. It means the enemy will destroy television and internet signal towers plus infrastructure. It means without internet connection bitcoin is almost useless as currency. When cash fails in scenarios like this, people appeal to barter system or start begging for donations.

Where bitcoin really shines is in your ability to move your wealth when you are running away from a country that is at war, as an example during the second world war many Jewish people began to run away from the countries that were invaded by Germany and they had to leave everything behind in order to try to save their lives, however with something like bitcoin you can move a significant portion of your wealth without bringing any unwanted attention to yourself, however if you get trapped in the middle of a war zone without any way out then bitcoin just like fiat and gold will become pretty much useless under those circumstances.

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of course this will also be a solution if the cash transaction fails then we can switch to bitcoin or digital currency, with an unlimited withdrawal or deposit process of course this is the main attraction for miners to continue to be in the crypto world for a period of time long, so that bitcoin can provide convenience in carrying out a transaction if it fails to process cash

fuguebtc

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Quote from: Crypto Library on March 25, 2022, 12:54:27 AM

Quote from: noorman0 on March 16, 2022, 12:50:52 PM

Actually this epic moment happened in Ukraine, I don't know how difficult it is to get cash there (even using e-money). Someone sells "a Legendary Car" with bitcoin. View more...

Another milestone that bitcoin really serves as an alternative currency especially in times of urgency, bitcoin is really valuable for someone to survive. Because urgent situations are not just about war, calamities can also have more severe repercussions. I think this is a perfect consideration for any government not to be too strict on bitcoin regulations.

(The point of this thread is not about Ukraine situations specifically, but to the experiences of the people on this story.)

Cryptocurrency will be used not only as an alternative but also as a major currency in the future and then there will be no paper money.
And what has happened here is the success of this currency. They went through a moment when they had no hand work so they had to use Bitcoin as an alternative. And this is the advantage of cryptocurrency that you can make purchases wherever you are with a net connection.

Crypto will always be an alternative that can exist alongside fiat, but cannot become major currency. I don't think it will happen in the future, although we have seen the benefits that cryptocurrencies brought to Ukraine during the war. Crypto still have certain weaknesses without internet then cryptocurrencies and bitcoin would suddenly become useless in this situation, so fiat is still necessary in our lives.

LUCKMCFLY

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Yes, eventually it is a blessing compared to FIAT money, when you live in a country where your local currency is getting lower and lower in price and its value is more and more null, the acquisition of foreign FIAT money is very difficult, because every time it continues going up, then when you have BTC it becomes the only alternative that is above any currency, even if the price of BTC goes down it doesn't matter, because with respect to the local currency you are still earning, for countries with high inflation things They work like this, perhaps in countries with economies with better liquidity and with inflation less than 5%, things are somewhat different, however, BTC often represents the best way to invest so that you can save on lottery prizes.

MinMan

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Quote from: pawanjain on March 23, 2022, 10:07:32 AM

Generating income from taxing income from cryptocurrencies is a great way for governments to grab a decent amount from the citizens of their country.
But at the same time if they are taxing cryptocurrencies then they will also have to come out with laws and policies to regulate cryptocurrencies to protect funds of their people.
This is where many governments are struggling in my opinion. There are no clear laws in many countries for cryptocurrencies including my country India.

Generating income from ANYTHING is great for the governments. I mean they are always lacking money, they always have corruption and use the taxes that we pay them to get themselves and their families richer, which means that they always need more money to actually help us.

If you pay them 100 bucks, 80 will go to them and 20 will go to helping us, if you pay them 120, 90 will go to them and 30 for helping us. So, it does help us to pay more taxes... in a horrible way. So, governments will always need more taxes paid just so they could get richer and also still help us more. With this new crypto taxing, they could definitely fill their pockets and maybe build a school or two.

Crypto Library

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Quote from: noorman0 on March 16, 2022, 12:50:52 PM

Actually this epic moment happened in Ukraine, I don't know how difficult it is to get cash there (even using e-money). Someone sells "a Legendary Car" with bitcoin. View more...

Another milestone that bitcoin really serves as an alternative currency especially in times of urgency, bitcoin is really valuable for someone to survive. Because urgent situations are not just about war, calamities can also have more severe repercussions. I think this is a perfect consideration for any government not to be too strict on bitcoin regulations.

(The point of this thread is not about Ukraine situations specifically, but to the experiences of the people on this story.)

Cryptocurrency will be used not only as an alternative but also as a major currency in the future and then there will be no paper money.
And what has happened here is the success of this currency. They went through a moment when they had no hand work so they had to use Bitcoin as an alternative. And this is the advantage of cryptocurrency that you can make purchases wherever you are with a net connection.

worle1bm

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The sad part is people are realising the true importance of bitcoin at this time when the conditions are very bad in the war affected regions.When there is no cash to afford the food and other basic amenities bitcoin is helping a lot to the people and say cash is not available and have gone too low in the value compared to USD standards.But on the other side btc have helped many as the exchange volumes have increased in both countries.Ukraine has also passed bill to consider it as legal tender and maybe this is where people see it as positive thing to adopt.

uneng

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I'm not so sure about this, because during a war, the first targets are the communication channels, besides the military centers. It means the enemy will destroy television and internet signal towers plus infrastructure. It means without internet connection bitcoin is almost useless as currency. When cash fails in scenarios like this, people appeal to barter system or start begging for donations.

Silberman

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Quote from: Fortify on March 16, 2022, 04:15:57 PM

Actually you can argue exactly the opposite - when you are surrounded by devastation with no water, electricity or maybe even food - then it is highly unlikely you'll have access to an internet connection that could allow you to move such crypto funds around easily. Cash is king in that scenario (provided it's not the Russian ruble) but more likely things like gold are useful for bartering your way. Most of the world is privileged to exist in a relatively stable environment, but the sheer devastation that has been wrought on parts of Ukraine mean that it's much easier to transact in physical goods and makes hard cash more important than ever, provided it is relatively low volatility like USD.

I have read the stories of people that had to survive during a war for months and even years, and stuff that has no utility very quickly losses any purchasing power and you have to either barter or offer some useful skills that you may have, stuff like food, alcohol, medicines, toilet paper, cigarettes, candles and other consumables become incredibly valuable, while cash and gold become useless, now if you happen to accumulate a lot of cash or gold and survive the war you could make significant profits, but under those circumstances most people only think about the short term, as they do not have any idea if they are going to live to see another day.

||bit

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The only thing that prove the people trust in bitcoin from the investment on bitcoin on 38k dollars.So the demands started to increase from that price.After the huge struggle the price of bitcoin had reached the value of 44k dollars.It’s not an easy things.From the war begins,the price of bitcoin reduced due to the panic selling.It takes some time for the recovery of the price.

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Quote from: Xampeuu on March 23, 2022, 02:42:20 AM

for the matter of fraud, it may be from other parties outside bitcoin who are in the name of bitcoin. but at this time we do admit that bitcoin can be an alternative payment due to the ukraine war. in this case bitcoin is an example that it can be used in unsupportive situations, but globally the problem comes from the government with all its considerations, so most countries have not been able to legalize it

People are doubting in bitcoin that what if it was a scam because bitcoin was not known back in time and almost all the people that use bitcoin that time are scammers and criminals. They use bitcoin as a medium on the dark market but now that bitcoin is not new anymore, lots of merchants have also opened up and this proves that bitcoin is clean.

Not only this time but bitcoin is really an alternative payment next to fiats or banks, that is why those that are affected in wars didn't hesitate to use bitcoin to accept donations because they are having a problem with traditional payment system. No matter how strict a government, they will always give an exception when they are in trouble.

pawanjain

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Quote from: tbterryboy on March 22, 2022, 04:00:31 AM

Quote from: pawanjain on March 21, 2022, 11:41:34 AM

bitcoin has proved time over time that it is more than just a cryptocurrency. It is something that people trust at time of emergencies.
It is more like a safe haven for many people and as time goes by more number of people will start believing bitcoin for what it is and what value it brings to them.
US has also started the preparation of regulating cryptocurrencies. Many other countries have also realized the fact that its impossible to completely ban cryptocurrencies so why not regulate it instead.
Good times are only getting started.

The fact that you could even tax it makes it even more illogical to ban it as well. Like if you could just tax it, get money from the people who use crypto, that means we are talking about making a good income. I have been paying crypto taxes for 4 years in my nation right now, and I have to say if they banned it, they would have lost out on all of that income from me, and that is just me, there are over 1.5 million people investing or at least in one point owned crypto.

It means that even if they all paid just one thousand dollars overall (some paid A LOT more, some paid less) that makes it 1.5 billion dollars yearly, and in the last 4 years (since we started legalizing and taxing crypto) that would have made it 6 billion dollars. Seriously, why ban it when you can make that kind of money?

Ofcourse they can. Generating income from taxing income from cryptocurrencies is a great way for governments to grab a decent amount from the citizens of their country.
But at the same time if they are taxing cryptocurrencies then they will also have to come out with laws and policies to regulate cryptocurrencies to protect funds of their people.
This is where many governments are struggling in my opinion. There are no clear laws in many countries for cryptocurrencies including my country India.

Xampeuu

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Quote from: CaVO32 on March 22, 2022, 06:47:49 PM

Quote from: panukurap on March 22, 2022, 09:04:51 AM

Bitcoin is truly an alternative currency that helps even in a pinch. As you said about the Ukrainians who took advantage of Bitcoin during the war because of access using fiat currency. This proves that Bitcoin is indeed an alternative currency that can really help even in dire circumstances. The more you come here, the more it appears that Bitcoin is indeed useful and really helps, it is appropriate that people look at Bitcoin. Although full of risks, Bitcoin also brings many benefits.

People are now realizing the good features of bitcoin as the advantages of using it has been seen during this pandemic and war crisis. As you don't need any third party just to send crypto to anyone at any part of the world, the experience is borderless, while enjoying the cheap and fast transactions. And now, many people are changing their perspectives towards bitcoin. Before a lot are thinking that bitcoin is a scam, fraud or whatever you may call it. But with the participation of the government like in El Salvador and big companies like PayPal, people are seeing that it is not the problem of the bitcoin itself but the people who are trying to use it to deceive gullible people.

for the matter of fraud, it may be from other parties outside bitcoin who are in the name of bitcoin. but at this time we do admit that bitcoin can be an alternative payment due to the ukraine war. in this case bitcoin is an example that it can be used in unsupportive situations, but globally the problem comes from the government with all its considerations, so most countries have not been able to legalize it

GreatArkansas

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Quote from: CaVO32 on March 22, 2022, 06:47:49 PM

Quote from: panukurap on March 22, 2022, 09:04:51 AM

Bitcoin is truly an alternative currency that helps even in a pinch. As you said about the Ukrainians who took advantage of Bitcoin during the war because of access using fiat currency. This proves that Bitcoin is indeed an alternative currency that can really help even in dire circumstances. The more you come here, the more it appears that Bitcoin is indeed useful and really helps, it is appropriate that people look at Bitcoin. Although full of risks, Bitcoin also brings many benefits.

People are now realizing the good features of bitcoin as the advantages of using it has been seen during this pandemic and war crisis. As you don't need any third party just to send crypto to anyone at any part of the world, the experience is borderless, while enjoying the cheap and fast transactions.
(....)

This is another reason why we really don't see these days a huge drop in the price of Bitcoin. I believe that the volume now is really huge and a lot of people using Bitcoin especially when the pandemic started, Bitcoin was really useful during those times and that's the time how most people appreciate the use case of Bitcoin.

CaVO32

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Quote from: panukurap on March 22, 2022, 09:04:51 AM

Bitcoin is truly an alternative currency that helps even in a pinch. As you said about the Ukrainians who took advantage of Bitcoin during the war because of access using fiat currency. This proves that Bitcoin is indeed an alternative currency that can really help even in dire circumstances. The more you come here, the more it appears that Bitcoin is indeed useful and really helps, it is appropriate that people look at Bitcoin. Although full of risks, Bitcoin also brings many benefits.

People are now realizing the good features of bitcoin as the advantages of using it has been seen during this pandemic and war crisis. As you don't need any third party just to send crypto to anyone at any part of the world, the experience is borderless, while enjoying the cheap and fast transactions. And now, many people are changing their perspectives towards bitcoin. Before a lot are thinking that bitcoin is a scam, fraud or whatever you may call it. But with the participation of the government like in El Salvador and big companies like PayPal, people are seeing that it is not the problem of the bitcoin itself but the people who are trying to use it to deceive gullible people.

Blended@

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Hmmmm as innovations increases new is come,however there is what we called cashless policy now day if bitcoin come to stay as castless transaction it will still fine but there are some primitive people that will not bitcoin but the prefer cash

panukurap

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Bitcoin is truly an alternative currency that helps even in a pinch. As you said about the Ukrainians who took advantage of Bitcoin during the war because of access using fiat currency. This proves that Bitcoin is indeed an alternative currency that can really help even in dire circumstances. The more you come here, the more it appears that Bitcoin is indeed useful and really helps, it is appropriate that people look at Bitcoin. Although full of risks, Bitcoin also brings many benefits.

ChiBitCTy

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Quote from: noorman0 on March 16, 2022, 12:50:52 PM

Actually this epic moment happened in Ukraine, I don't know how difficult it is to get cash there (even using e-money). Someone sells "a Legendary Car" with bitcoin. View more...

Another milestone that bitcoin really serves as an alternative currency especially in times of urgency, bitcoin is really valuable for someone to survive. Because urgent situations are not just about war, calamities can also have more severe repercussions. I think this is a perfect consideration for any government not to be too strict on bitcoin regulations.

(The point of this thread is not about Ukraine situations specifically, but to the experiences of the people on this story.)

You’re right if there’s a such thing as a silver liner when it comes to the Russian / Ukrainian war is that it showed the importance and the uniqueness of Bitcoin and cryptocurrency and how it can come in hand when it comes to not being able to access your countries fiat services. I am kind of surprised that values didn’t go up a bit more than they did Over this time but they will.

tbterryboy

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Quote from: pawanjain on March 21, 2022, 11:41:34 AM

bitcoin has proved time over time that it is more than just a cryptocurrency. It is something that people trust at time of emergencies.
It is more like a safe haven for many people and as time goes by more number of people will start believing bitcoin for what it is and what value it brings to them.
US has also started the preparation of regulating cryptocurrencies. Many other countries have also realized the fact that its impossible to completely ban cryptocurrencies so why not regulate it instead.
Good times are only getting started.

The fact that you could even tax it makes it even more illogical to ban it as well. Like if you could just tax it, get money from the people who use crypto, that means we are talking about making a good income. I have been paying crypto taxes for 4 years in my nation right now, and I have to say if they banned it, they would have lost out on all of that income from me, and that is just me, there are over 1.5 million people investing or at least in one point owned crypto.

It means that even if they all paid just one thousand dollars overall (some paid A LOT more, some paid less) that makes it 1.5 billion dollars yearly, and in the last 4 years (since we started legalizing and taxing crypto) that would have made it 6 billion dollars. Seriously, why ban it when you can make that kind of money?

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