Bitcoin Under World War 3... - page 3.

Sithara007

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Quote from: Slow death on March 21, 2017, 12:51:58 AM

If most countries where bitcoin has more trading volume participate in the war, bitcoin will greatly lower its price

Another risk is the confiscation of funds. If the government runs out of money to wage wars, then it will start confiscating wealth from its citizens. And this can include bank deposits, bullion, real estate, and even Bitcoin.

JavaLove

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I believe that Bitcoin will be our last resource in times of need. Especially during a complete and total war. Think of all the taxation that will be done to raise funds for the military. On top of that, forex trading will not wish to invest in any country's currency who is under an attack from a war.

I believe that people would have to look to Bitcoin in order to keep their financials in check -- and in order to survive. Imagine a tyrannical nuclear war were to break out. No businesses will be able to run and freedoms will be taken away in exchange for martial law where leaders and politicians can do whatever they please. The IRS would collect all the money, homes would be raided.

These are really scary and drastic proposals, but it's truly what the government will do to its citizens in the name of security. Therefore, government will lose all respectability causing the masses to flock to alternative currencies. And for that, the only trustworthy one is Bitcoin. Therefore, I believe that Bitcoin would surely profit during a war.

squatz1

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Quote from: gabmen on March 20, 2017, 06:49:20 AM

Having nuclear devastation would most likely leave any digital transaction to a halt. We may even be looking at mass extinction here as if ww3 breaks out, it's effects would not be felt within the war itself only but for decades after it. That's why its very important for our leaders to realize that a lot is at stake with their decisions. Its not going to be like ww1 and ww2. Imagine thr horror those wars made even without nuclear weapons access. Ww3 would be the end of us if world leaders will think foolishly and selfishly

Yeah, Bitcoin needs massive datancenters in order to survive who are going to be running ASIC's / Nodes and so on. So, if power is something that is non exisistent or pretty much being rationed on I highly doubt people would be using the power that they only have a set amount of in order to gain more bitcoins in which may amount to buying nothing with them.

Bitcoin relies on an extensive amount of technology, I highly doubt it would be able to survive in the least in circumstances like this in WW3. As WW3 would probably also include a gross amount of Nuclear warfare and so on.

audaciousbeing

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Quote from: iamTom123 on March 17, 2017, 11:12:52 PM

I have been thinking about this scenario. There are still many people who are thinking that the possibility of a global war can happen anytime soon. The destruction that WW3 can bring may put humanity on the brink of near annihilation.

Now, am thinking...what will happen to Bitcoin if WW3 erupts? Will the value diminish or will it freeze itself? Some quarters are saying that in a global war, gold can be better but still you can not eat gold...so food can be more valuable.

I am sure when world war 3 should break out, with the level of destruction that is being envisaged and that prediction you have there eventually comes true, I believe people will have more serious things to think about than bitcoin because the reason why we can still have access to the internet, send coins, comment on the forum is because there is relative peace in the world and the moment that is taken away, then our priority will shift to the only thing that matter which is survival.

Sundark

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Quote from: iamTom123 on March 17, 2017, 11:12:52 PM

I have been thinking about this scenario. There are still many people who are thinking that the possibility of a global war can happen anytime soon. The destruction that WW3 can bring may put humanity on the brink of near annihilation.

Do you honestly worry about bitcoin ins situation when we will have full scale nuclear/conventional war?
It is like worrying about mosquito bite when you are dying from king cobra venom.

I would be more worried about social revolution, poor vs. rich than WW3. It's more realistic threat IMO.

Slow death

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Quote from: HabBear on March 21, 2017, 12:32:51 AM

Quote from: bitmakerBR on March 18, 2017, 02:30:49 PM

In case of war the most valuable things will be: shelter, food, water and medicines. All the rest will lose value. Unless they will exchange gold for gold. Therefore, it is necessary to prevent the incitement of war.

Yess and if there is no electricity you don't have bitcoin. Biticoin is not a doomsday currency. However, with all of that said, the previous world wars didn't eliminate electricity all over the world, only in select areas...

Those guys who had electricity and were not very active in the war were fortunate.

If most countries where bitcoin has more trading volume participate in the war, bitcoin will greatly lower its price

HabBear

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Quote from: bitmakerBR on March 18, 2017, 02:30:49 PM

In case of war the most valuable things will be: shelter, food, water and medicines. All the rest will lose value. Unless they will exchange gold for gold. Therefore, it is necessary to prevent the incitement of war.

Yess and if there is no electricity you don't have bitcoin. Biticoin is not a doomsday currency. However, with all of that said, the previous world wars didn't eliminate electricity all over the world, only in select areas...so, if you're in one of those areas for WW3...just hang tight, hodl that shit until the lights come back on!

gabmen

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Having nuclear devastation would most likely leave any digital transaction to a halt. We may even be looking at mass extinction here as if ww3 breaks out, it's effects would not be felt within the war itself only but for decades after it. That's why its very important for our leaders to realize that a lot is at stake with their decisions. Its not going to be like ww1 and ww2. Imagine thr horror those wars made even without nuclear weapons access. Ww3 would be the end of us if world leaders will think foolishly and selfishly

Alexzap

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Quote from: Sithara007 on March 17, 2017, 11:36:25 PM

I am pessimistic about the chances of BTC in case of a WW3 occurring. But it also depends on whether the United States gets involved in the war or not. If the US is not involved militarily, then the value of USD will rise, and correspondingly the value of BTC will go down.

I think that it is of great importance where there will be war. If the war is in America, the dollar will go down. Accordingly, bitcoin may raise. The development of bitcoin is held back by a lack of cash its shape.

bitmakerBR

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In case of war the most valuable things will be: shelter, food, water and medicines. All the rest will lose value. Unless they will exchange gold for gold. Therefore, it is necessary to prevent the incitement of war.

Mometaskers

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If the scale of destruction would only be like WWII I would trust bitcoin to remain relevant but that would not be the case. WWIII would be a totally different beast. It might still retain (even increase) value during the first few months of the war if it starts conventionally but once the nukes go out one by one, you can say goodbye to it. The destruction would be immense.

Now let's be optimistic and just hope that they'll just detonate the nukes above the atmosphere to create a EMP. That could result to less destruction and less death but it would still be chaotic, with the power grid taking years to be repaired (remember war is still ongoing).

So I'd say convert as much bitcoin as needed to fund your escape abroad if there's a high likelihood you'll get nuked. Stuff all your gold and silver bullion where they'll less likely to be stolen (with everyone panicking it's unlikely you'll be able to exchange them all). Take all your jewels with you (they're also basically money). Upon arriving in a different country, sell off all your bitcoins and use that to buy essentials and prepare for the war also reaching that country.

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Quote from: Sithara007 on March 17, 2017, 11:36:25 PM

I am pessimistic about the chances of BTC in case of a WW3 occurring. But it also depends on whether the United States gets involved in the war or not. If the US is not involved militarily, then the value of USD will rise, and correspondingly the value of BTC will go down.

Perhaps we need to take into account other aspects of this issue. Will conditions for the existence of bitcoin in general, in the event of a third world war. Although all wars were not carried out to the detriment, to earn money. This is clearly visible in existing conflicts. But I hope we can avoid this.

Sithara007

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I am pessimistic about the chances of BTC in case of a WW3 occurring. But it also depends on whether the United States gets involved in the war or not. If the US is not involved militarily, then the value of USD will rise, and correspondingly the value of BTC will go down.

iamTom123

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I have been thinking about this scenario. There are still many people who are thinking that the possibility of a global war can happen anytime soon. The destruction that WW3 can bring may put humanity on the brink of near annihilation.

Now, am thinking...what will happen to Bitcoin if WW3 erupts? Will the value diminish or will it freeze itself? Some quarters are saying that in a global war, gold can be better but still you can not eat gold...so food can be more valuable.

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