Effects of war on bitcoin - page 3. | Bitcointalksearch.org

AmoreJaz

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Quote from: mendace on May 03, 2023, 04:04:18 PM

Quote from: darkv0rt3x on May 03, 2023, 02:15:26 PM

Quote from: Godlovesyou on May 03, 2023, 01:36:42 AM

Different countries issues is the reason why bitcoin is suffering price loss, when countries are not at peace with others, the whole nations suffered economic crisis, I remember when the price of bitcoin start going down was same season Russian x Ukraine start economy wars. Bitcoin seem to remained statics because of sentiments by this countries attitude towards the resourceful digital products that would have swim financial hardship.

In my opinion, the biggest problem is that energy prices can go up like crazy and if the technology doesn't keep up (both in efficiency and prices), maybe it gets too expensive to mine Bitcoin and small mining operations stop activity and then only major operations can keep their business. That can represent a bit more of centralization and that is not good.
But on the other hand, the network might eventually adjust difficulty and make it easier to mine blocks and eventually reduce the price of mining.

About the war and the effects on the network, it may have also 2 sides. Bitcoin can be as good as bad. States and governments like to have control over the population and in this sense, Bitcoin is bad. On the other hand, Bitcoin can help countries that are facing economic, political and financial restrictions to circumvent those same restrictions. So, as we say in my country, this is a double-sided knife blade in this scenario.

Energy prices are already skyrocketing for a large part of Europe but the miners will not stand idly by, they know how to move and consider that you can always use renewable sources to mine, indeed that is precisely the greatest incentive in continuing to mine .

that is very true, it is like they have more reasons to go into renewable energy and the rising energy prices will be their inspiration to continue on this mining activity without the help of these energy companies. this is why some large mining companies are investing in renewable sources, deploying solar panels in their mining farm or maybe wind turbine. these 2 are the most popular renewable sources to be used by miners. and remember, solar panels are getting cheaper these days.

death69

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Quote from: bayu7adi on May 03, 2023, 01:37:02 PM

Quote from: jeraldskie11 on May 03, 2023, 01:58:32 AM

Most of us believe that if there is a conflict, the price of Bitcoin and other cryptocurrencies will plummet. But that is not true, because in 2020, there is a global pandemic that severely damages our economy, but what happened in Bitcoin that time? Price hikes have caused an abrupt surge in the market, indicating that there is a lot of demand. As you can see from the chart, it reaches an all-time high. As a result, I believe that if there is a war, it may be beneficial or detrimental to crypto.

In my opinion, this is a form of self-preservation for some people who have failed to maintain their primary source of income from working. We know that during the pandemic, many employees were laid off by companies for various reasons. The number of employees in the world is very large, we can say that 80% of people in the world work for companies and we can call them employees.
Not everyone is fired, but almost everyone wants to get other sources of income to meet their needs. Many people see cryptocurrency as a savior to their concerns for additional income, so many people started buying cryptocurrency when the pandemic happened.

Meanwhile, when the war between Russia and Ukraine broke out, we realized that in the first few months since Russia announced the war on Ukraine on February 24, 2022, the BTC price tended to decline over time. Although this is not solely due to the war, we must realize that Russia has a significant role in the world of cryptocurrency. Do you think this price change is not caused by Russia's actions?

War affects the price of Bitcoin, depending on which country is at war.

War and strife, man, those words freak out investors big time. But when it comes to Bitcoin, do we need to sweat the small stuff?

In my book, the golden rule for solid investing is keeping your cool when things get rocky. Sure, conflicts and crises can shake up the market, but they can also pave the way for growth and innovation.

Look at Bitcoin, for example. Despite the past year's chaos, it's been crushing it, adapting to market shifts and nailing every challenge thrown its way. With more peeps hopping on the crypto train to safeguard their dough, the future's looking hella bright.

So, if you're biting your nails about the world's state, remember: there's always a silver lining. And with Bitcoin in your corner, the sky's the limit.

drwhobox

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I believe that war has effect on the world economy heavily. The especially for Russia. Compared to Ukraine, Russia is fairly a big country and for that war the world economy along with bitcoin has direct impact. Also Russia mined a large amount of bitcoins.

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Quote from: darkv0rt3x on May 03, 2023, 02:15:26 PM

Quote from: Godlovesyou on May 03, 2023, 01:36:42 AM

Different countries issues is the reason why bitcoin is suffering price loss, when countries are not at peace with others, the whole nations suffered economic crisis, I remember when the price of bitcoin start going down was same season Russian x Ukraine start economy wars. Bitcoin seem to remained statics because of sentiments by this countries attitude towards the resourceful digital products that would have swim financial hardship.

In my opinion, the biggest problem is that energy prices can go up like crazy and if the technology doesn't keep up (both in efficiency and prices), maybe it gets too expensive to mine Bitcoin and small mining operations stop activity and then only major operations can keep their business. That can represent a bit more of centralization and that is not good.
But on the other hand, the network might eventually adjust difficulty and make it easier to mine blocks and eventually reduce the price of mining.

About the war and the effects on the network, it may have also 2 sides. Bitcoin can be as good as bad. States and governments like to have control over the population and in this sense, Bitcoin is bad. On the other hand, Bitcoin can help countries that are facing economic, political and financial restrictions to circumvent those same restrictions. So, as we say in my country, this is a double-sided knife blade in this scenario.

Energy prices are already skyrocketing for a large part of Europe but the miners will not stand idly by, they know how to move and consider that you can always use renewable sources to mine, indeed that is precisely the greatest incentive in continuing to mine .

hZti

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Quote from: panganib999 on May 03, 2023, 02:37:25 PM

Bitcoin will surely lose some value during times of great crisis, is what I would say in 2019, before COVID and that god-awful Territory wars within Ukraine and Russia.

Actually I would disagree with that statement for two reasons. For one the war in the Ukrainian has led to a high demand for safe assets like gold, usd, or also bitcoin. Secondly if there is a real multinational war then most currencies will go to shit within weeks. A multinational currency like bitcoin will largely benefit from that and become relevant quickly. This will however need more bitcoin acceptance points and also more education about bitcoin.

panganib999

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Bitcoin will surely lose some value during times of great crisis, is what I would say in 2019, before COVID and that god-awful Territory wars within Ukraine and Russia. Judging those two conflicts and bitcoin's price during those periods, I would say that there's a good chance that it is going to rise up in value, after a really crazy drop of course.

Still, with no war of a global scale happening around today (And I hope not ever), we can't say for certain what's going to happen with btc. Some say the demand for it will drop down cause everyone's going to be so focused with keeping themselves alive and the cashflow running which makes sense, but at the same time the aftereffects of war (provided that a substantial amount of people are alive still and a good amount of them could use bitcoin) could also pose as a great way to jumpstart the economy and with it, introduce bitcoin as a bona fide currency.

darkv0rt3x

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Quote from: Godlovesyou on May 03, 2023, 01:36:42 AM

Different countries issues is the reason why bitcoin is suffering price loss, when countries are not at peace with others, the whole nations suffered economic crisis, I remember when the price of bitcoin start going down was same season Russian x Ukraine start economy wars. Bitcoin seem to remained statics because of sentiments by this countries attitude towards the resourceful digital products that would have swim financial hardship.

In my opinion, the biggest problem is that energy prices can go up like crazy and if the technology doesn't keep up (both in efficiency and prices), maybe it gets too expensive to mine Bitcoin and small mining operations stop activity and then only major operations can keep their business. That can represent a bit more of centralization and that is not good.
But on the other hand, the network might eventually adjust difficulty and make it easier to mine blocks and eventually reduce the price of mining.

About the war and the effects on the network, it may have also 2 sides. Bitcoin can be as good as bad. States and governments like to have control over the population and in this sense, Bitcoin is bad. On the other hand, Bitcoin can help countries that are facing economic, political and financial restrictions to circumvent those same restrictions. So, as we say in my country, this is a double-sided knife blade in this scenario.

Ojima-ojo

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Quote from: jeraldskie11 on May 03, 2023, 01:58:32 AM

Most of us believe that if there is a conflict, the price of Bitcoin and other cryptocurrencies will plummet. But that is not true, because in 2020, there is a global pandemic that severely damages our economy, but what happened in Bitcoin that time? Price hikes have caused an abrupt surge in the market, indicating that there is a lot of demand. As you can see from the chart, it reaches an all-time high. As a result, I believe that if there is a war, it may be beneficial or detrimental to crypto.

You are right but the truth of the matter is, such global crisis will definitely affect the price of Bitcoin for a while before Bitcoin will build it liquidity around it to push it price above the situation resistant conditions, take for example, in the early stage of the 2019-2020 covid pandemic, the price of Bitcoin and other digital assets suffered a price fall greatly, and if you can take the time to check the price chart at that time you will see that Bitcoin price fall significantly.

But then that does not stop Bitcoin from reaching and all time price in the same year due to the fact that, in the middle of the global crisis where there was a lot of restriction, online payment become the only option and Bitcoin and other cryptocurrencies that offers trance border transfers become the best alternative in the middle of the economic and financial crisis that came along with the pandemic, and that single reason pushed the price of Bitcoin to reach a new all time high due to high demands.

bayu7adi

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Quote from: jeraldskie11 on May 03, 2023, 01:58:32 AM

Most of us believe that if there is a conflict, the price of Bitcoin and other cryptocurrencies will plummet. But that is not true, because in 2020, there is a global pandemic that severely damages our economy, but what happened in Bitcoin that time? Price hikes have caused an abrupt surge in the market, indicating that there is a lot of demand. As you can see from the chart, it reaches an all-time high. As a result, I believe that if there is a war, it may be beneficial or detrimental to crypto.

In my opinion, this is a form of self-preservation for some people who have failed to maintain their primary source of income from working. We know that during the pandemic, many employees were laid off by companies for various reasons. The number of employees in the world is very large, we can say that 80% of people in the world work for companies and we can call them employees.
Not everyone is fired, but almost everyone wants to get other sources of income to meet their needs. Many people see cryptocurrency as a savior to their concerns for additional income, so many people started buying cryptocurrency when the pandemic happened.

Meanwhile, when the war between Russia and Ukraine broke out, we realized that in the first few months since Russia announced the war on Ukraine on February 24, 2022, the BTC price tended to decline over time. Although this is not solely due to the war, we must realize that Russia has a significant role in the world of cryptocurrency. Do you think this price change is not caused by Russia's actions?

War affects the price of Bitcoin, depending on which country is at war.

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Quote from: Godlovesyou on May 03, 2023, 01:36:42 AM

Different countries issues is the reason why bitcoin is suffering price loss, when countries are not at peace with others, the whole nations suffered economic crisis, I remember when the price of bitcoin start going down was same season Russian x Ukraine start economy wars. Bitcoin seem to remained statics because of sentiments by this countries attitude towards the resourceful digital products that would have swim financial hardship.

How about those people thought like me that the pandemic will bring the worst of bitcoin? But it tends out that I was wrong with that thought when I've compared and associated bitcoin and the pandemic.

Until then, there's now the other factor that's said affecting bitcoin and that's the war.

If we'll analyze all of these, as long as these factors do affect the common basic and supply of bitcoin. Then, that's where the prices are going to be totally affected by it.

Mate2237

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War is within us. War can not be removed from us. And if bitcoin price will reduce because of war in the world then the price will never go up again. As Russian and Ukrain war is subsiding, Sudan has started and evacuation of other countries citizens as started.

Whenever war starts in any part of the world it affects other parts directly or indirect and also all sphere of life and the economics institutions are more affected than other parts. In the contemporary age, the technological area is much more affected in the war zones. And if the technology is badly affected then it has affected the bitcoin blockchain in the war zones. War is not good but we can not afford it because it within us. One thing I know that affected bitcoin price is not necessarily war but the demand of buying and selling.

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Quote from: Godlovesyou on May 03, 2023, 01:36:42 AM

Different countries issues is the reason why bitcoin is suffering price loss, when countries are not at peace with others, the whole nations suffered economic crisis, I remember when the price of bitcoin start going down was same season Russian x Ukraine start economy wars. Bitcoin seem to remained statics because of sentiments by this countries attitude towards the resourceful digital products that would have swim financial hardship.

I think as more sanction from the US was imposed on Russia it plunged the price. War naturally wasn't meant to push Bitcoin price that dip but as various nations particularly the US seized from having deals with the Russians and also triggered other nations to follow suite price of Bitcoin kept plunging. Wars impact on Bitcoin price was felt most when more countries got involved. It wasn't really Ukraine-Russia crisis that made price plunge so deep but sanctions did.

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Quote from: Godlovesyou on May 03, 2023, 01:36:42 AM

Different countries issues is the reason why bitcoin is suffering price loss, when countries are not at peace with others, the whole nations suffered economic crisis, I remember when the price of bitcoin start going down was same season Russian x Ukraine start economy wars. Bitcoin seem to remained statics because of sentiments by this countries attitude towards the resourceful digital products that would have swim financial hardship.

I believe that war can effect the price of Bitcoin, but if we look at the history of how the price of Bitcoin has been fallen, I can't claim that the currently it is only war that is having serious impact on the price of Bitcoin. If I may describe the current state of Bitcoin, it would be due to all the negative news coming from various directions, such as government regulations, exchanges going under, and so forth. These factors have caused some investors to become fearful and begin withdrawing their funds from investments, and some nations have banned Bitcoin, which has slowed the growth of the cryptocurrency.

Op I don't think any powerful war have happened since existence of Bitcoin that have effects on bitcoin like and there of bear market since expected that of Russia and Ukraine which you claim it have affected the price of bitcoin which I can't say it play serious part in it. I aware that war is not a good thing and if it happens in countries that adopted.I am sure it will cause seriously damage in the price of Bitcoin but recently war is not the main causes of price dropping.

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Quote from: Godlovesyou on May 03, 2023, 01:36:42 AM

Different countries issues is the reason why bitcoin is suffering price loss, when countries are not at peace with others, the whole nations suffered economic crisis, I remember when the price of bitcoin start going down was same season Russian x Ukraine start economy wars. Bitcoin seem to remained statics because of sentiments by this countries attitude towards the resourceful digital products that would have swim financial hardship.

speculators always take advantage of viral moments that occur for their own benefit, and speculators also do that to bitcoin, so don't be surprised when negative things arise ^{(such as issues of war or pandemic)} the price of bitcoin will fall.

but it won't last long, because for sure the price of bitcoin will strengthen again ^{(the issue is when the price of bitcoin falls, speculators buy again at cheap prices)}

as long as the war doesn't happen so badly ^{(up to 50% of the world)} that causes a lot of infrastructure to be damaged, don't worry about the price of bitcoin, because bitcoin has proven to be very resilient to any issues.

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Quote from: Godlovesyou on May 03, 2023, 01:36:42 AM

Different countries issues is the reason why bitcoin is suffering price loss, when countries are not at peace with others, the whole nations suffered economic crisis, I remember when the price of bitcoin start going down was same season Russian x Ukraine start economy wars. Bitcoin seem to remained statics because of sentiments by this countries attitude towards the resourceful digital products that would have swim financial hardship.

All countries in the world do not want war to happen because it has an impact on all sectors ranging from the economy to very important problems, namely destroying human psychology.
In the economic sector, inflation. When inflation appears, it can damage all systems that damage working human resources.

If the Bitcoin price situation has decreased or has difficulty moving up, the relationship between Bitcoin and war does not always occur on a negative scale.
You can read the full history of Bitcoin, when it was launched, when the world's economic conditions were how Bitcoin was born and how the process of Bitcoin was born.
All of this is so that you can find definite answers with clear data.

Rupok

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One of the main reasons for the peace of any country is the economy of that country. Countries are not at peace with others when economies become unbalanced.But I don't think Bitcoin has anything to do with these. Because not all countries are dependent on Bitcoin.The war in 2022 due to the fall of Bitcoin is completely wrong and not due to inflation, It may have been due to diplomatic reasons of other countries.It's natural that the fall in the price of Bitcoin could affect investors, but it had nothing to do with the war.

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Prices will still plummet temporarily since war affects fiat and economic crisis affects all prices. But BTC is resilient to crisis and war which is why it still can be used by regardless of sanctions.

During the start Ukraine-Russia war, they were also using BTC sending money in and from in both countries.
The next war I suppose is Chian vs US and the reason is Taiwan. This is bigger than Russia-Ukraine war and will affect just about everything when China is involved.

Dr.Bitcoin_Strange

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OP, you are only capitalizing on just one thing, "war," which is not the only thing that is making the Bitcoin price fall; some other factors like government policy, economic news, inflation, and other bad news also lead to the price decline of Bitcoin. Currently, the use of cryptocurrency in the US is not really favorable due to some rules, and even some banks have restrictions on the use of debit cards by their customers to purchase bitcoin. So, you can see that it's not only war that affects the price fluctuations of Bitcoin. Even Last month, 50,000 bitcoins were discovered
by the government, from a hacker, and the government sold about 17% of those bitcoins, which I think also led to the price decline of bitcoin last month.

Sidra101

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The effects of war on Bitcoin are uncertain and can vary depending on the situation. In some cases, people may turn to Bitcoin as a safe haven to protect their wealth during times of economic instability caused by war, leading to an increase in demand and a rise in price. However, if the war causes significant disruptions to the global economy, adoption and use of Bitcoin may decrease, and its value may become more volatile. Overall, the impact of war on Bitcoin is difficult to predict and can be influenced by many different factors.

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Quote from: Godlovesyou on May 03, 2023, 01:36:42 AM

Different countries issues is the reason why bitcoin is suffering price loss, when countries are not at peace with others, the whole nations suffered economic crisis, I remember when the price of bitcoin start going down was same season Russian x Ukraine start economy wars. Bitcoin seem to remained statics because of sentiments by this countries attitude towards the resourceful digital products that would have swim financial hardship.

I agree with you there that global events such as political conflicts, economical sanctions, and regulatory changes can affect the price of Bitcoin and other cryptocurrencies. For example, when there is uncertainly or instability in the global financial system, some investors may turn to cryptocurrencies as a store of value or a safe haven asset, On the other hand, negative news or actions from governments or central banks can create fear and uncertainty among investors, leading to a decrease of demand and a drop in prices.

The relationship between geopolitical events and the cryptocurrency market is complex and multifaceted, and it is important for investors to carefully consider a range of factors when making investment decisions.

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