How wars can affect Bitcoin? - page 8.

Baofeng

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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.

We don't know what will happened to bitcoin in case a war break out in the future. But for me, bitcoin is not suited for this kind of situation. Although is can be used to hedge and to store you wealth in this crisis, it will be gold who will play a vital role. We have seen it happened during the last Great War as Britain used to pay its debts from war or even buy raw materials like steel and oil during and after the World War.

Only 2 cases have been so far documented bitcoin to be very useful during crisis. That is Venezuela and Zimbabwe economic turmoil. We never been tested in a War because obviously we haven't witness one yet.

Welsh

staff

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Unless people are looking to invest into something to store their assets in something other than traditional currency to avoid any issues with fiat currencies being affected by war. I don't think Bitcoin itself will take much of a impact directly from war it will be more of the impact it has on traditional currencies and what the people invest into.

coin-investor

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Leading Crypto Sports Betting & Casino Platform

It will have a dramatic effect people will first keep their safety first more than anything else there will be a major disruption of internet activity and bitcoin could crash at it's the lowest level if the countries that are actively participating in the wars are active in cryptocurrency the trading will have significant effect.

hosseinimr93

legendary

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The price will rise. If there is a war in a country, people will prefer to put their money into a decentralized currency such as bitcoin. Because they will be able to use their money in abroad easily and without any difficulty and they won't need banks any more.

Aura

sr. member

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A war will certainly affect Bitcoin if the transatlantic communications cable or similar is targeted for a breach. That means that no internet communication can happen and will result in worthless Bitcoin, at least for that time. The war could possibly even include EMPs, which means that all data gets erased and so does the blockchain, assuming that it is deployed in a big range. But the same can be said about banks, as I don't think that they still have physical written copies of their database. The only thing that will actually have value during a war is gold and other precious metals.

kimochidesh

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I think if something like this happens, the price of Bitcoin will increase as people will lose the faith on govt. and will try to secure their money. Keeping cash with them can be very risky so they will try to secure their money by converting into a digital form where no govt can affect its value. This will inc the buying vol. in the market, hence the price will rise.

hackzang12

full member

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If there will be a war then expect a massive dump by the community but still bitcoin will stay just like internet. But for sure we are going back to stone age and after war there will be a one world government for sure.

Ausgewielt

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May be bitcoin price will rise, korean and japanese people buy bitcoin due to the growing war in north korea. In my oppinion they will buy bitcoin so when war is happen then they still can use their bitcoin outside of their countries and the citizens can support from outside war zone.

think3214

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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.

Austin Alexis

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I think volatility suits bitcoin at this current point in its development. We've seen a very noticeable spike in value overtime there has been a global conflict. In the case of world war 3 well, it could become the main currency but I envisage world war 3 being fully scale nuclear war so I'm not sure I will care what currency is in use at that point

cheefbuza

member

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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.

Topic: How wars can affect Bitcoin? - page 8. (Read 782 times)