Finland sold 1,900 BTC, for a good cause

Betwrong

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I stand with Ukraine.

Quote from: Vaskiy on July 28, 2022, 04:52:04 PM

Quote from: Betwrong on July 28, 2022, 05:12:51 AM

~ So, regarding the topic I can say only one thing: Thank you, Finland. It's acts such as this help us to stand against Putin's army of zombies.

Humanity exists, and what Finland have done once again proves it. As a user said, if they wait for the growth then we might loss big number of lives. According to me, support need to be done at the right time. Here Finland have done the best at the right occassion. Hope this will be followed by other countries too.

They are following, or rather they are helping on their own not even knowing about this particular case. Look at the news:

And that was when only the second week of the war had begun. I don't know the exact number for all crypto donations up to date, but it's surely tens of millions of USD worth, being spend on bulletproof vests, helmets, medical supplies and other things needed for our resistance, for defending our country and freedom. Thank you, Finland. Thank you, world.

wallet4bitcoin

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Quote from: Vaskiy on July 28, 2022, 04:52:04 PM

Humanity exists, and what Finland have done once again proves it. As a user said, if they wait for the growth then we might loss big number of lives. According to me, support need to be done at the right time. Here Finland have done the best at the right occassion. Hope this will be followed by other countries too.

Right, I don't think people will hold bitcoin forever. Because it is useless if no one uses it when need. Traders hold Bitcoin for profit and a time must convert it to fiat. I am aware of the uses of bitcoin, but at some point it has to be exchanged for fiat.

I believe they still has the option to donate with bitcoins. But, they sold it for donation, I don't take it negatively. It's necessary to exchange it with fiat to help the general peoples.

BitcoinPanther

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Quote from: mk4 on July 23, 2022, 02:46:11 AM

Quote from: btc_angela on July 23, 2022, 02:39:25 AM

Probably they just want to wash their hands with this tainted bitcoin?

The reason to not hold "tainted" bitcoin is so your funds wouldn't get locked when sending them to centralized exchanges and for you to not be a suspect in general. This obviously wouldn't matter if it's the government that's holding the "tainted" bitcoin.

So for the tainted BTC to be cleansed, it needs to pass through the government's hands and let the government sell them Grin

. Anyway, it is good news and exposure for BTC, having Finland sold the said BTC amount for Ukraine's aid.

Quote from: Vaskiy on July 28, 2022, 04:52:04 PM

Humanity exists, and what Finland have done once again proves it. As a user said, if they wait for the growth then we might loss big number of lives. According to me, support need to be done at the right time. Here Finland have done the best at the right occassion. Hope this will be followed by other countries too.

Humanity doesn't disappear, we can observe it in our daily lives, neighbor helping neighbors, good samaritans helping people in need, it happens daily if we observe around. Probably we are too hook in our pcs and other gadgets to notice that Grin

. And I do hope that there are more governments to participate in Ukraine's aid. It is really a huge blow, dealing both with the pandemic and war.

danadc

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Quote from: KennyR on July 24, 2022, 05:18:24 PM

That's a good move from Finland. Bitcoin had got some negative mark with its usage on drugs and illegal usage on darkweb. Now the same being used for a good cause will make a change people's view over bitcoin. Already bitcoin donations were received by Ukraine and this too could help them. Russia needs to rethink and end the war, because financially Ukraine is falling down regularly amidst the support received from different countries around the world.

When I saw all the initiatives in some people on the forum to ask for BTC and donate it to Ukraine, I was very happy, because they are suffering a lot, and I am even more happy because a member of the local Spanish section spread the word and is involved in helping them , that speaks of how noble his heart is and I hope that people continue to send lots of BTC to the most needy in that war, that many have died cruelly, I hope that this money helps them a lot and I hope that this senseless war ends And don't keep dying innocents.

Vaskiy

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Quote from: Betwrong on July 28, 2022, 05:12:51 AM

Quote from: coolcoinz on July 25, 2022, 04:05:45 PM

Quote from: avikz on July 25, 2022, 08:35:13 AM

It's good to see a super positive use of bitcoin. Especially when various countries are seeing bitcoin under a negative light due to its usage in money laundering or dark web, it's a refreshing news that a huge amount of bitcoin will be used in humanitarian aid.

It's so very kind of Finland to extend their support towards Ukraine in such a positive way. Good thing should receive good publicity and praises.

As a bitcoiner, I don't see selling, especially selling in a bear market, as a positive use of bitcoin.

A better way would be to put it on auction. If they really wanted donate it, they could've sent in its original form, instead of feeding it to centralized exchanges.

As someone living in Ukraine right now, I disagree. We need money now. We need ammo now. We can't wait until BTC goes higher in price and then sell it. Not in our situation.

So, regarding the topic I can say only one thing: Thank you, Finland. It's acts such as this help us to stand against Putin's army of zombies.

Humanity exists, and what Finland have done once again proves it. As a user said, if they wait for the growth then we might loss big number of lives. According to me, support need to be done at the right time. Here Finland have done the best at the right occassion. Hope this will be followed by other countries too.

lixer

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Quote from: Betwrong on July 28, 2022, 05:12:51 AM

As someone living in Ukraine right now, I disagree. We need money now. We need ammo now. We can't wait until BTC goes higher in price and then sell it. Not in our situation.

So, regarding the topic I can say only one thing: Thank you, Finland. It's acts such as this help us to stand against Putin's army of zombies.

I think that the price of btc during the peak of the war is much lesser than the price what we have these days, so selling it now was still a good decision and we don't know what if the price will return again to 20k or below few days later? Btc is a currency so selling it because we need the money is one of its use cases. I don't see anything wrong with that but what is wrong if we will only hoard the btc and do nothing with it.

Also, another thing that is wrong is when you use your btc for illegal transactions. Wars might have subsided now in Ukraine but I think their country is still struggling to recover so they still need help financially.

Betwrong

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I stand with Ukraine.

Quote from: coolcoinz on July 25, 2022, 04:05:45 PM

Quote from: avikz on July 25, 2022, 08:35:13 AM

It's good to see a super positive use of bitcoin. Especially when various countries are seeing bitcoin under a negative light due to its usage in money laundering or dark web, it's a refreshing news that a huge amount of bitcoin will be used in humanitarian aid.

It's so very kind of Finland to extend their support towards Ukraine in such a positive way. Good thing should receive good publicity and praises.

As a bitcoiner, I don't see selling, especially selling in a bear market, as a positive use of bitcoin.

A better way would be to put it on auction. If they really wanted donate it, they could've sent in its original form, instead of feeding it to centralized exchanges.

As someone living in Ukraine right now, I disagree. We need money now. We need ammo now. We can't wait until BTC goes higher in price and then sell it. Not in our situation.

So, regarding the topic I can say only one thing: Thank you, Finland. It's acts such as this help us to stand against Putin's army of zombies.

coolcoinz

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Quote from: avikz on July 25, 2022, 08:35:13 AM

It's good to see a super positive use of bitcoin. Especially when various countries are seeing bitcoin under a negative light due to its usage in money laundering or dark web, it's a refreshing news that a huge amount of bitcoin will be used in humanitarian aid.

It's so very kind of Finland to extend their support towards Ukraine in such a positive way. Good thing should receive good publicity and praises.

As a bitcoiner, I don't see selling, especially selling in a bear market, as a positive use of bitcoin.

A better way would be to put it on auction. If they really wanted donate it, they could've sent in its original form, instead of feeding it to centralized exchanges.

n0ne

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Quote from: Captain Corporate on July 25, 2022, 09:40:28 AM

Quote from: avikz on July 25, 2022, 08:35:13 AM

Bitcoin could be something amazing, bitcoin could be used to elevate the whole world but unfortunately it has no backing gets seen as a bad thing. There is no doubt that it would be a scary thing to invest the whole worlds economic infastructure, but at the end of the day if we could not do that, then we would have to at least use the best of this situation, it may not be the worlds greatest thing, but it is at least something as decent as we could hope for, and that would be like getting full-time crypto job instead of a fiat paying one, or like this donation, or whatever else you could think of that would make the world better by using bitcoin.

The potential of bitcoin is big. The realisation about the market isn't found among all levels of people. There are people who have a misconception about bitcoin and other cryptocurrencies. This will change slowly through such donation and charity done through bitcoin. This shows bitcoin can be used for good and bad, which is upto the user and not on its purpose. Finland have showcased how good bitcoin can be used, when there are illegal things happening with bitcoin and cryptocurrencies.

Captain Corporate

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Quote from: avikz on July 25, 2022, 08:35:13 AM

Bitcoin could be something amazing, bitcoin could be used to elevate the whole world but unfortunately it has no backing gets seen as a bad thing. There is no doubt that it would be a scary thing to invest the whole worlds economic infastructure, but at the end of the day if we could not do that, then we would have to at least use the best of this situation, it may not be the worlds greatest thing, but it is at least something as decent as we could hope for, and that would be like getting full-time crypto job instead of a fiat paying one, or like this donation, or whatever else you could think of that would make the world better by using bitcoin.

Rikafip

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Quote from: Lucius on July 25, 2022, 04:44:57 AM

You probably mean all that money that was stolen from our emigrants and ended up in the private accounts of the same party that is still in power today and steals from its people to the same extent as before. But it is not only the thieves who are to blame, but also those who support them all the time.

Not just them, but almost everyone who has a chance to take something for themselves did that, from top to bottom.

Quote from: Lucius on July 25, 2022, 04:44:57 AM

There is no doubt that some of the aid will not be used as it should be, but I think that most of it will end up in the right hands. The proof is that Ukraine still manages to defend itself, even though on the other side stands the second strongest military power in the world (which I strongly doubt) after everything seen.

I wish I share your optimism but unfortunately I don't, and the fact that they are doing a much better job than anyone expected is not any proof of that. We did an excellent job too during our war (and all that without help outside, at least not at the beginning) and that didn't prevent thievery on mass scale, from our generals (who were selling gas to enemies) to politicians and since Ukrainians are probably similar to us when it comes to corruption, I don't think that its better situation there.

All this of course doesn't mean that people (and countries) shouldn't send help to Ukraine, but I am just being realistic as I've been old enough to see how it went in our country that was in a very similar situation.

avikz

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It's good to see a super positive use of bitcoin. Especially when various countries are seeing bitcoin under a negative light due to its usage in money laundering or dark web, it's a refreshing news that a huge amount of bitcoin will be used in humanitarian aid.

It's so very kind of Finland to extend their support towards Ukraine in such a positive way. Good thing should receive good publicity and praises.

BlockchainMentors

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This is very good news Finland has taken a very good step. Ukraine is in great need of this money because the condition there has become very bad, in such a situation, helping Finland, the friendship of Ukraine and Finland has been encouraged and Russia will not like it at all, but bitcoin was used in it, which Finland has recovered from illegal business

Quote from: masterrex on July 25, 2022, 07:18:31 AM

I believe it's an act of solidarity with Ukraine Because 1900 BTC worth $47 million was already a huge amount and it can do big in Ukraine's efforts to help their population that was heavily affected by this useless war, so all I can say is Finland has been doing a great job. Anyway, most western nations are already shown their support for the Ukraine effort, and for me, it is a good sign to pressure Russia to go back into the talks.

Right brother, Seeing this, it seems that everyone is standing in support of Ukraine.

[moderator's note: consecutive posts merged]

masterrex

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I believe it's an act of solidarity with Ukraine Because 1900 BTC worth $47 million was already a huge amount and it can do big in Ukraine's efforts to help their population that was heavily affected by this useless war, so all I can say is Finland has been doing a great job. Anyway, most western nations are already shown their support for the Ukraine effort, and for me, it is a good sign to pressure Russia to go back into the talks.

Betwrong

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I stand with Ukraine.

Quote from: LoyceV on July 23, 2022, 03:28:40 AM

Quote from: Kakmakr on July 23, 2022, 03:25:25 AM

it is definitely not a good thing for Bitcoin when large amounts of coins are converted to Fiat currencies.

Why? On the other end of the deal, you could say someone converted $47 million to 1,900 Bitcoin. It always works both ways, and chances are the coins are now distributed to many different individuals instead of centralizing them.

Indeed, some people(including me in the past) don't see that, in fact, when someone is selling other people are buying at the same time. What would be really "not a good thing" for BTC it's if no one wanted to buy.

Overall, I'm glad that this time Bitcoin is associated with something good(because helping Ukraine to fight against Russian aggression is definitely a good thing). Good job, Finland!

Baofeng

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Quote from: buwaytress on July 24, 2022, 09:33:10 AM

@Baofeng @TimeTeller
But that was my whole point, we can't know. It would be enough to know it would help alleviate suffering but state to state assistance like this, unclear it's not to finance the war. My personal belief is you're really not helping the people who need it most when you're helping either side in the conflict itself.

It's not as simple as all that really, and again, pretty irrelevant to Bitcoin.

But still two folds though, whether it will aid Ukraine and help those citizens or buy weapons I guess it's their call.

Maybe we have our own beliefs regarding this war, but we all agree that it didn't do any good overall. Not just for both nations, but we are all affected by it. I guess the relevancy for bitcoin is that it shows how it can be used, for "good" or "bad".

blockman

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A really good cause indeed. If they've sold that earlier before the dump, it would have gone higher but it's still good enough. I just hope that everything will be sent directly to the country and for the need of its cause. Hopefully, there won't be any leak on that fund that will just go through straight to the pocket of the corrupt folks where that fund has to go. There have been a lot of donations and aid for that good cause from different countries and organizations and hopefully, all of those went to the correct recipients.

Lucius

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Quote from: Rikafip on July 24, 2022, 11:17:59 AM

Regarding the aid that we received during the war, majority of it didn't reach those that actually needed help and while those who were assigned to distribute it got rich instead. My guess is that similar thing is happening in Ukraine with donated money and goods.

You probably mean all that money that was stolen from our emigrants and ended up in the private accounts of the same party that is still in power today and steals from its people to the same extent as before. But it is not only the thieves who are to blame, but also those who support them all the time.

There is no doubt that some of the aid will not be used as it should be, but I think that most of it will end up in the right hands. The proof is that Ukraine still manages to defend itself, even though on the other side stands the second strongest military power in the world (which I strongly doubt) after everything seen.

KennyR

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That's a good move from Finland. Bitcoin had got some negative mark with its usage on drugs and illegal usage on darkweb. Now the same being used for a good cause will make a change people's view over bitcoin. Already bitcoin donations were received by Ukraine and this too could help them. Russia needs to rethink and end the war, because financially Ukraine is falling down regularly amidst the support received from different countries around the world.

Rikafip

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Quote from: seoincorporation on July 24, 2022, 11:34:34 AM

Because i have the feeling that they will be used more weapons and not for help the people affected by the war.

Because using money for weapons while your country is invaded is somehow a bad thing? You know the saying, "those who are reluctant to feed their own army will feed a foreign army".

I don't think that Finland would have any problems if all money is used for weapons since they already sent military equipment to Ukraine. After all, Finns experienced what Ukraine is going through now back in 1939 when USSR invaded their country and trust me, they didn't forget that.

Topic: Finland sold 1,900 BTC, for a good cause (Read 660 times)