How wars can affect Bitcoin? - page 3.

Ryker1

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Quote from: cheefbuza on March 11, 2018, 06:10:09 PM

While commenting on one of threads over here. A really interesting thought popped into my mind. What will happen when there will be coming a huge war?
Even a World War III? Will Bitcoin pump or dump? What role will Bitcoin play? We all know the economy and the currencies are very vulnerable in wars.
I would like to hear some interesting thoughts, even maybe some full detailed articles? Anything would be very welcomed.

In my opinion, if World War III occurs, I think bitcoin will definitely crash. Miner will have a hard time mining since bombs flying everywhere, and also the price will eventually go down, big countries will not be able to invest and mine, because big countries are the first one who will be on war. There will be a huge loss in bitcoin if World War III occurs.

kapustin

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Wars result in scarcity and I think bitcoin prices will be affected negatively in such a situation. I am talking about big wars only.

ParveZ219

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Quote from: cheefbuza on March 11, 2018, 06:10:09 PM

While commenting on one of threads over here. A really interesting thought popped into my mind. What will happen when there will be coming a huge war?
Even a World War III? Will Bitcoin pump or dump? What role will Bitcoin play? We all know the economy and the currencies are very vulnerable in wars.
I would like to hear some interesting thoughts, even maybe some full detailed articles? Anything would be very welcomed.

According to me bitcoin is a currency so whats it related to war....

SnowWhiteOwl

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Cryptos are high beta investments (likely the highest ever), so a war would undoubtedly crash the price.

MisterStylish

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Well, you’d have refugees trying to flee the country and trying to bring their wealth with them, BTC would be perfect for doing this. This could cause slight increase in value for BTC in the short term.

But if North Korea attacked, then they would probably take out South Korea with them. South Korea is the third largest volume in trading now after in the China ban. Currently only 5% of the total volume is done by them. It sounds small now, but I could total see SK taking up 15-20% of the market share in the future, and if the SK market is gone this would slow down the growth of cryptos. This would be bad for the price in the long term.

steelzeppelin

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Well, if you ever studied history in class, you would know back in WWII, the USA had the largest gold reserve making them the wealthiest economy at that time. Gold is a commodity (duh), which no longer supports currencies ; hence the term Fiat Currency. During bad times (war), gold was the safest investement. But now that we have bitcoin, it is debated whether bitcoin is the new gold (as it is not back up by any government, or has no control at all).

StarLucas

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Depends on the Warcoin ICO. Could be moon.

xlcus

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Quote from: cheefbuza on March 11, 2018, 06:10:09 PM

While commenting on one of threads over here. A really interesting thought popped into my mind. What will happen when there will be coming a huge war?
Even a World War III? Will Bitcoin pump or dump? What role will Bitcoin play? We all know the economy and the currencies are very vulnerable in wars.
I would like to hear some interesting thoughts, even maybe some full detailed articles? Anything would be very welcomed.

Small partial war will affect Bitcoin, making it valuable, as the government is destroyed and the FIAT is losing its consensus.
However, we don't expect a world war. If so, no one and no coins will survive.

winterblues

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A lot of the systems could just flat out fail, because they're not designed to handle an Internet partition. Say the US and China end up on opposite sides of a legit war, and someone cuts all the undersea cables. Blocks are not going to get exchanged between the two sides, and much of the mining power might be on one side.

People might stop mining because they need the electricity for something else.

A government at war might ban the whole space as an unacceptable risk, because of its potential to be used by foreign powers and spies.

Last mile or residential Internet and power access might be disrupted in a war, making transacting in cryptocurrencies impossible.

There are software systems that might work well in wartime (anything with light resource requirements, a fallback to sneakernet, and a lot of delay/asynchronicity tolerance), but blockchains are not one of them.

stripewhite

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I think war would create uncertainty and instability in the fiat and centralized currency markets. This in term might lead people to alternative stores of value like gold and hopefully cryptos.

Al-e_x

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I read a lot about the history of world wars from various literature, that the third world war is the last battle of the world's largest, and resulted in all the internet network dead.

no electricity, no vehicles, we will experience primitive battles such as using swords, arrows, and others.

and that is the end of human life.
the effect on bitcoin is death.

icecube45

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First I hope there is no third world war or any other war of course naive hope, then whether bitcoin will pump or dump answer is dump. Because war will affect the market too, then what role is taken bitcoin at the beginning of war in my opinion it will be very influential. And at the end of bitcoin war will drop very rapidly along with the economy. Bitcoin will not be used if war occurs and this will cause unstable demand/supply, indirectly the price will dump.

waitforme

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If World War III could happen, the world economy would undoubtedly be in crisis. The whole Cryptosystem will certainly not be noticed, FIAT is still the most valuable option and gold is also the preferred exchange unit.

aderupoko

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war can affect all coins not only bitcoins self,,because during war,,nobody will have time to trade or to invest in it,,,and thats.how it will be affected

masudginanjar

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I am sure I can raise the price of Bitcoin when there is World War III, but with electricity, computer and internet must always exist.

it may be different again its reality and could be destroyed Bitcoin with a war that can destroy Bitcoin by destroying, internet, electricity and computers around the world.

tranthetai

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Bitcoin is often used as a crisis currency. South Korea and China share land borders with North Korea, and both of those countries are currently large buyers of Bitcoin. Should a war break out, I imagine you would see considerable amounts of South Korean and Chinese wealth move into Bitcoin.

Svafnir74

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I think that if there is a big war bitcoin will be no need for anyone. Its price will drop to zero. During the war, we need material values. Like gold. The price of gold should increase during the war.

Catch-22

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If World War III breaks out, it definitely would be a nuclear war. I don’t think people would have time to check on the status of the cryptocurrency market. Or even if one do have the time, the internet will probably be not available due to EMPs and the destruction of telecom infrastructures including communication satellites. The value of bitcoins would probably be off the charts.

THATBTC

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Quote from: think3214 on March 11, 2018, 06:25:04 PM

In my opinion, Bitcoin only exists in peacetime. Because of the complexity of BitCon, if the war all over the world we do not have time to focus on developing applications, etc. And when the war is limited electricity, internet .. I think In the war people will no longer care about BTC and BTC will die.

Maybe, but that's depend of the country on front

Peashooter

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Quote from: ymnhg980 on March 11, 2018, 11:30:44 PM

When the war took place, I thought that the Internet would be closed. In this case, I think that Bitcoin would become worthless at that time, because the Internet is one of the basics of Bitcoin. If not, people can't trade, then Bitcoin. The role will be gone.

Yes you are correct internet is the bridge to make transactions in bitcoin. If they have wars internet had affected on it in the bitcoin become worthless on that time, how we can make transactions an investing or trading we can't earn, it can turn big crisis in bitcoin world.

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