Topic: Decentralized assets might be the saving grace after the war (Read 251 times)

It is not necessary to believe much in the decentralization of many platforms, at least in Venezuela they blocked Metamask and it is a decentralized tool, if you do not enter with VPN you do not have access to it, the decentralized economy must be fulfilled and I see that tokenization is not the way out , things should be safer through crypto, but it is not like that, that is why you only have to trust what is safe, after all these things that are happening, the safest thing is your own wallets, tokenized economies have their limitations despite the fact that the word decentralization is intrinsic there.

I guess Ukrainians have it easier than the Russians moneywise in this war then. Would be interesting to know if they kept their money in their banks before leaving the country or if they withdrew the money first. I'm assuming the latter is more likely if it's a local Ukrainian bank that might not have a lot of branches outside the country.

RIP to the Russian public's money though. Not only do transactions get harder to do for them there's also a possibility of a bank freeze.

Now in the midst of the war it paved a way to me to further realized the importance of having a decentralised asset under my portfolio. Though I'm glad that my country was not affected by the war but sad to say all over the world may suffer the consequences of this war due to rapidly increasing the oil price in the world market. Now I really even more realized that having bitcoin is important whenever a fiat currency loses it's value you'd still have these asset that can be used to exchange goods and services and that's what I'm wishing also that crypto will be widely adopted.

But they need to live and survive the war. what if they were fired from a company that left Russia because of sanctions? they have no income, so they have to spend their savings on a living, the question is how many are there who can live normally and still save some bitcoin for after the war.
in wartime, some ordinary things become very expensive and unattainable, the money is spent quickly.


for the most part, you are wrong here. Yes, there will surely be some help to Ukraina from USA, EU... but it will mostly help through borrowing. Loan with a low-interest rate, but still a loan.
btw. Nato probably won't help much in rebuilding. they don't deal with it and their essence is something completely different.

The world have seen that crypto donations are pouring in Ukraine right now. This is the safest to send help as you won't disclose your identity if ever someone is monitoring the funds coming in in this country. They are now understanding the benefits of crypto in times of turmoil. Even during covid pandemic, charity organizations starting to accept crypto donations. We have no idea where this war will end up with. But for sure, both countries will be having difficult time to recover economically. This is one of the aftermaths of war.

Bitcoin which has been considered to be a money laundering tool by many countries, is now able to provide a very significant role for Ukraine in helping their resistance, now bitcoin and other crypto are an alternative for the Ukrainian government in accepting any donations from all over the  world quickly and if the ukraine government expected donations in the form of fiat money of course it would consume a lot of time and resources right now, besides that now the world community, especially ukraine, can use bitcoin as a hedging asset during a crisis other than gold to secure their wealth .

I wouldn't say it's a great store of value considering volatility but it sure beats having to carry fiat/gold with you across borders. I don't know how banks operate in Europe but I suppose if you're Ukrainian and have to move, you might have trouble accessing your money from your bank, etc. For Russians I think its cryptos are still performing better than their fiat that is now in rubles so I think crypto might be useful for them.

Russian currency got hit very hard due to sanctions, but Ukraine's currency performs relatively well, considering the war, it only dropped by 10-20%, something that happens often in crypto. Ofc in the long run bitcoin will outperform any national currency, even if countries don't experience war, but the reality is that most people aren't tech savvy enough to convert thir savings into BTC, and in Russia it could be extra hard if exchanges and payment systems sanction them.

For me it just works according to what is expected if citizens understand how it works and also understand that decentralized assets are very likely to fall in the tens of percent overnight and vice versa, if they do not understand how this works it is very likely that they lose even more value because of watching the crypto prices they buy down. We can see March 2 the price rising to $44k in a few days down to $38K losing value about $6K. All decisions taken in this heated condition must be done wisely and always calculate the benefits and risks obtained.

Even I mentioned that its easy to take 1 bitcoin in your wallet while crossing the border than holding few oz of Gold or jewellery. But what about the people living in other countries they are also going to affect economically because crude oil prices increasing and value of many fist currencies are falling so there will be supply and demand shock in certain sectors so they can prioritise gold as well than anything is what I am suggesting.

While it is true that bitcoin has a significant amount of volatility it has a huge advantage over gold under the current circumstances, and that is the ability to move your money without bringing attention to yourself.

During a war period things do not work in the same way they did when there was peace, so it is easy for anyone carrying a gun, whether that person is a police officer or a soldier, to strip you from your property and there is nothing you can do about it as they are taking advantage of the turmoil to get some money, however with bitcoin this is not a problem, as you can hide your seed words on the open in a book or even just memorize the seed words and carry nothing with you, something that is impossible to do with gold.

The Russian currency experience just showing the difference between fiat and cryptocurrency. Fiat hardly have bull season and does not grow faster with volatility like bitcoin and this shows that fiat doesn't have the kind of volume and volatility bitcoin has. Recovery of fiat is difficult especially this kind of situation with Russia. Fiat isn't a store house of value. The war situation and sanctions is pulling the fiat down.

One large benefit of gold is that it is physical and even during the war you can still move it. It makes it a reserve currency and it is different from BTC.
After the global war it is unclear how countries would be getting resources and would you have enough to maintain a large blockchain on a daily basis. During a serious war most likely you would get some limitations for internet traffic, electricity, water, etc. Crypto market would be having bad times once people don't have stable access to computer and internet. Despite BTC growth, it still cant serve as a security asset for war.
Also, the entire crypto market is built around hype and profits. I'll never believe these megaminds would make anything useful after war.

Exactly citizens should have they asset convert into decentralized asset such as Bitcoin or other cryptocurrency where they will have total control because cryptocurrency serves that purpose right now, both Russia and Ukraine are carried away by the war and the economy is suffering from the impact of the war. Citizens are at the receiving end with all the sanctions on Rusia the currency crashed cryptocurrency will serve as the best alternative currency to help connect the Russian people to the world on a decentralized network where there are no restrictions

I hope it's not too late for Russian citizens that wants to decentralize thier finances. The rouble has already lost above 30%. Most Russians have already lost so much money. Also due to sanctions Russians might find it a little bit difficult to but cryptocurrencies.

However, buying crptocurrencies now  would be one of the wisest decision because the Russian economy would still nosedive further after the invasion or war.

But Bitcoin isn't have enough history to compare with gold and silver, again I am saying that I am not against the bitcoin but don't make bitcoin as your only asset in your portfolio because bitcoin may fall 30% overnight which may not likely to happen with gold or silver.

Interesting!
The gold you said earlier as an alternative to Bitcoin, has it been stable from your explanation? I think we need some basic understanding here, What exactly is a store of value?
From Investopedia:


Source: https://www.investopedia.com/terms/s/storeofvalue.asp

A store of value can be anything as long as it helps you maintain a value over time, a piece of land you bought for $100 may be worth $1000 in the future, if you have kept that $100 bill, it would have been eaten deeply by hyperinflation.
Bitcoin is always described as high risk (what is life without risk) and one of the most volatile digital assets, but be honest which one of the three(silver, gold and bitcoin) would you choose to invest in if you could go back in time and protect your wealth. 

   

The war wouldn't or shouldn't appreciate anyway. I don't think Russian citizens shouldn't worry about their crypto assets. Because any exchange shouldn't block citizens' funds anyway, otherwise it would break their own made policy. But yes, citizens should stay safe zone. Because Putin is quite aggressive, we don't know when he will take what decisions. Whether war or not, funds shouldn't be left on centralized exchange or wallet. Funds should be under the control of users, not controlled by exchange or wallet.

Can't disagree! There is a huge possibility for the Russian people switching their savings to alternate investments like Gold or cryptos. We have see buying pressure in the crypto market since last couple of day. While it is impossible for us to guess if the volume is coming from Russia or Ukraine, but people are buying bitcoins for sure. What will happen after the war, only time will tell. But consider the fact that Russia supplies 30% of Europe's natural gas, so it's not as easy as it seems! 


I don't see NATO entering Ukraine after the war because the chances are very high that Ukraine will become a part of Russia and will be controlled by Russian military. I know this is not the most favorable outcome that we all want, but can't deny the fact that Russia is far more powerful than Ukraine. Also now since US said that they will refrain themselves from the war, it's highly unlikely for Ukraine to get NATO protection. There's a lot to unfold. Please wait and watch!

It's easier to bring crypto with you across borders so that's its value in war at least (granted, the war might cause a drop in value). As for Ukraine's crypto stash, I think it would be easier to hide from Russia and something the government in exile might be able to find ways to still access.

Storage of value asset should be having stable vakue and constant and consistent growth which isn't same in Bitcoin, I do accept it grown too much in the last 10 years even Santoshi couldn't imagined that but the fact is if you are selling all your assets to buy Bitcoin and consider it as best Store of value then you're taking life risk, diverse your portfolio and lesser the risk.

Decentralized forms of money (and I'm talking about crypto here) should become more popular and adoption should increase after all of this world tension either dies down or continues to escalate--not just the situation in Ukraine but even things like the protesting Canadian truckers.  When the government can just turn off the cash spigot at will when they don't like what you're doing, well, that's a huge problem. 

I'd also say that more anonymous coins ought to be way more popular than they are, because they could be used by people who rightly fear unjust persecution by their government or whoever.  The flip side of that is that they can also be used by folks on the opposite side of the just, i.e., all those Russian oligarchs I've been hearing so much about on the news, hiding money everywhere it can't be found.  Anyway, bitcoin or even something like Monero doesn't do anyone any good if it can't be used to buy things.  Sending bitcoin to the Canadian truckers wouldn't help them if they can't use it for whatever they need to purchase--and my point is that since most businesses and say, lawyers, accept fiat exclusively, there has to be a reliable way to convert crypto to fiat without the government being able to shut it down.

Or it would be ideal if more businesses/merchants/whatever accepted crypto as a payment method.  This shit makes my head spin.  This and all the chaos going on in the world.  Anyone got a time machine going back to 1988?

Bitcoin has been a better store of value than any asset I have heard in my entire life, it may be volatile and have crashed several time but it has been a saving grace for Millions. If bitcoin highest price was $10 in 2010 and gold was worth almost $1k but today bitcoin price is around $43k while gold is still a less than $2k, tell me which is a good option for storage of value.

The world is watching, Russia want to eat what they produce and sell it within their self.

It's already proven that even in war, decentralized assets such as bitcoin are helping through donations.

Regarding EU doesn't want Ukraine to become a EU member, it was Russia that doesn't want EU to accept Ukraine and they have repeated threaten EU if indeed they are going to let them in. Nevertheless the war has started so it's useless now and no debate is needed.

This "special operation" or undeclared war will end some day and somebody has to spend tens of billions of dollars to repair the damages done to Ukraine.Who is going to spend that much money?EU or the USA?
Or maybe both?
Many EU countries don't want Ukraine to become an EU member,because such a big and underdeveloped country(with several cities being destroyed) is going to be a huge financial burden for the European Union.
"Decentralized assets" (I guess that you mean mostly Bitcoin) can help for raising funds or for handling financial transactions,but I don't think that they will have a crucial role in the reconstruction of Ukraine.

Decentralized cryptocurrencies are good but not in terms of storage of value so I will add gold as well which is more stable and accepted anywhere in the world. I don't think these donations are going for rebuilding the economy and what if the Russia captured the Ukraine completely? The country will be no more so Russia will take the resources and rebuild their falling economy?

The official Ukraine Twitter account is accepting donations in Bitcoins as well, bitcoins is already big in Ukraine and Russia alike, considering war right now there are many places that are experiencing the power outages which means that at the end of the day, people might face problem using Decentralized systems.
The war is growing in just few days, it have destroyed numerous lives of both Russians and Ukrainians alike. With Ukraine now joining EU soon, I don't think that Putin is going to stop this anytime soon, since he is going to threatened from NATO as well. The globe is round and the position of Russia near Canada and US is quite alarming therefore they might try and use Nuclear weapons causing even more destruction. The fiat might have been destroyed long ago, I think they might start using cryptocurrencies more since visa and Mastercard are not even working in Russia as well now. They would have to switch. It's not an option for them anymore.

When ever the thoughts of war rings many seems not to look after the effect it will likely play on the economy and the cost of restructuring damaged property even the devaluation of local currencies. It's sad Putin took laws in his hands by invading Ukraine and i guess the outcome now might not be what he actually expected and at the moment where Russia has gotten different sanctions it will be wiser for Russian citizens to switch most of their assets to decentralized cryptocurrencies so they have a link to bounce back to after the war.

For Ukraine i guess NATO and other world organizations will make donations to help rebuild the nation but for Russia it will be starting up a new economy from what ever is left having tampered most of their reserve to build sophisticated weapons which has served as a treat to other countries who wished to help Ukraine. But i feel the numerous sanctions so far might serve it's own purpose to help curb the attack on Ukraine

# let peace lead
#Putin should consider the lives he has wasted