If Russia attacks Ukraine - Bitcoin?

Brut

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Quote from: ilovenxt on March 03, 2014, 02:38:10 AM

I dont think there is any relationship between Ukraine-Russia and Bitcoin.

There is huge correlation because people in Russia/Ukraine in fact don't have any reserve currency.
Even dollars are printed almost without control. So bitcoin could become a good alternative

BitOnyx

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Russia already attacked Ukraine. This topic get obsolete very fast.

They will definitely use bitcoin for transactions. Only problem is if they will actually use it for investment value.

txbt

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Quote from: MrPiggles on March 02, 2014, 09:57:22 AM

if a tree falls in the forest and there is no bitcoiner around to hear it, what happens to the price of bitcoin in the forest

Except for the case that one bitcoiner was resting under the tree, after that he left but forget his portable HDD with his secret (huge) bitcoin wallet. The tree fell and destroyed & buried his HDD.

I guess some bitcoins could be lost but now this is the least of the worries for people there.

Peace Please!

h@shKraker

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Why OH why did you forget to include hookers in the weapons swap???

H@shKraker

MrPiggles

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Quote from: h@shKraker on March 05, 2014, 10:22:56 AM

BitOnyx,

it isn't so much that Russia banned bitcoins that matters in this case. What matters is that any number of "intelligence" agencies could co-opt the FBI's GIANT BTC stash to buy relatively recent Russian military hardware from Syria and ship it to the Ukrainian army for defensive use against Russia. In this manner the payment for weapons would be pretty anonymous and the weapons would just magically show up painted in brown with Arabic safety information printed on the boxes. Viola, anonymously funded intelligence agency war.

H@shKraker

Yeah or they could just do it the truly anonymous way and swap guns for drugs/gold/oil/diamonds like arms dealers have been doing for decades and not worry about all this bitcoin shit

h@shKraker

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BitOnyx,

it isn't so much that Russia banned bitcoins that matters in this case. What matters is that any number of "intelligence" agencies could co-opt the FBI's GIANT BTC stash to buy relatively recent Russian military hardware from Syria and ship it to the Ukrainian army for defensive use against Russia. In this manner the payment for weapons would be pretty anonymous and the weapons would just magically show up painted in brown with Arabic safety information printed on the boxes. Viola, anonymously funded intelligence agency war.

H@shKraker

anu

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Quote from: BitOnyx on March 05, 2014, 08:27:34 AM

When it comes to bitcoin and this situation we must understand that slowly bitcoin wont be something you want invest into, it will become tool that you can easily buy products acros whole world and transfer wealth from one part of world to another.

Why would I not want to be invested in Bitcoin if it "becomes" such a tool? I was under the impression that I can do that today and I could do that 2 years ago. If you mean to say that more people are using it for that purpose, as this suggests:
https://blockchain.info/charts/n-transactions?timespan=2year&showDataPoints=false&daysAverageString=1&show_header=true&scale=0&address=

it seems reasonable to assume that it becomes more valuable.

BitOnyx

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Russia already banned bitcoin by not accepting it as alternative currency and since only one currency can be used officially in Russia. Of course Russia is in recession for awhile already, Rubbel is not doing good and they already spend milliard of dollars on supporting it. If there would be any kind of embargo placed upon Russian products it would be devastating for Russia economy. It might be good reason why Russians might want to find alternative.

When it comes to bitcoin and this situation we must understand that slowly bitcoin wont be something you want invest into, it will become tool that you can easily buy products acros whole world and transfer wealth from one part of world to another.

roslinpl

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Quote from: h@shKraker on March 04, 2014, 10:11:28 PM

Anonymous currency = anonymously funded war. It's not a mistake that the gangster route for the currency (i.e SilkRoad and the like) got gobbled up by the US FBI. When you can't tie the funds directly back to a weapons trade you can't drag Ollie North in front of the Senate.

H@shKraker

Indeed. This is a dark side of anonymous people... we want so much to be free, to be anonymous, to be not under any control - and on the other hand we want other bad people to rather be under control.

Paya

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Prolonged economic war (sanctions, confiscations etc) between the West and Russia could have some minor effect on btc, but that scenario is very unlikely to happen because all sides would be damaged. Global economic instability is already serious enough - adding more fuel to fire isn't in anyone's interest.

Coins4life

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What does this have to do with Bitcoin at all ? If I take a shit tomorrow will my toilet ban bitcoin tho?

h@shKraker

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Anonymous currency = anonymously funded war. It's not a mistake that the gangster route for the currency (i.e SilkRoad and the like) got gobbled up by the US FBI. When you can't tie the funds directly back to a weapons trade you can't drag Ollie North in front of the Senate.

H@shKraker

DANIEL77

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Quote from: miketonic on March 03, 2014, 10:35:27 AM

I don't think people in Ukraine are using BTC that much anyway. Also I think it's the last thing in their minds if Russia attacks.

Totally agree! At this point, people are thinking about other things and issues, not about Bitcoin and other crypto.

CurbsideProphet

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Putin knew the repercussions of his actions, obviously he thought they wouldn't be big enough to warrant a stoppage and he's probably right. I feel for those in the Ukraine but in terms of a global impact or impact on Bitcoin, call me when they attack a NATO country.

giantdragon

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Quote from: Acook3 on March 03, 2014, 10:59:51 AM

It would be wise for Russians and Ukrainians to store their money to something safer (i.e. gold, silver or Bitcoin).

Gold and silver here taxed with VAT, so Bitcoin is the most cheapest way to save your money!

Acook3

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Bitcoin is generally unpopular and unheard of in most countries, including Russia and Ukraine. However, any time there is a war the local currency takes a hit. This is true in every case. It would be wise for Russians and Ukrainians to store their money to something safer (i.e. gold, silver or Bitcoin).

Although, I don't think it will come to war. I could be wrong, but it's not good for either economy and their are better ways to go about it.

miketonic

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I don't think people in Ukraine are using BTC that much anyway. Also I think it's the last thing in their minds if Russia attacks.

Ekaros

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I don't bitcoin is very handy during a war... If the Internet is controlled or goes down...

On other hand there is some merits if you survive and hold sufficient amount and were able to exchange it...

anu

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Quote from: redhawk979 on March 02, 2014, 09:49:35 AM

How self absorbed do you have to be about Bitcoin to think thats what these people over there give a fuck about right now?

As this is a Bitcoin forum, the question is legitimate.

The UAH lost 20% in the last 2 months. Anyone with a significant stash of UAH who has a chance to get anything else will do so. Problem is that there are capital controls in place to prevent just that.

But it could be similar to the Cyprus effect: Bitcoin price went up a year ago not because Cypriots bought Bitcoin, but because people elsewhere thought bail-ins in Cyprus could be a blueprint for their country, too.

ilovenxt

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I dont think there is any relationship between Ukraine-Russia and Bitcoin.

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