I guess the answer depends on where you are and how far the war spreads. If you're in a country that's directly involved in the war, it's likely that your local fiat will suffer greatly, so Bitcoin might be useful, but only if you're sure you'll be able to exchange it for fiat (or use it directly) when needed. In practice, you might not have stable electricity and/or Internet connection, and in some cases, the only things of value will be food, meds, and weapons.
If you're in a country outside the war, just watching, then I guess not much changes in comparison with what's already going on right now.
If we entered a WW3 nuclear kind of situation, neither Bitcoin nor fiat is likely to be useful, and essentials would become the currency and grow in value.
Topic: In Case of Global Conflict, Is BTC The Best Alternative? - page 2. (Read 353 times)
I think, that in case of WW III we will not need any money anymore. It will be about global instinction. At least, i hope that it will stay at local levels. In this case, bitcoin can act as a hedge against war, yeah
Hodl Bitcoin in times of war is the best, the fact is you're protecting your asset because in times of war anything can happen, maybe the burning of banks or the burning of houses or maybe banks shutdown and such shutdown may lead to breakdown of physical asset. But I don't see Bitcoin fight against inflation in times of war.
I understand your point here you are avoiding holding anything physical because of the war and you can easily lose it. You have a point here.But I think what OP really want to mean here is the value of holding Bitcoin, in term of the price of Bitcoin. We all know that this current turmoil can be considered as fundamental analysis to add up in Bitcoin.
But for me, since this turmoil is only few countries are really affected, I don't think Bitcoin will also be affected here, not the same with COVID-19 before.
When the war between Ukraine and Russia broke out, it also affected bitcoin and I think this time is no exception. War affects human life and property in countries at war, but it will also cause global impacts such as energy, food... thereby destabilizing the global economy. So it can be said that bitcoin will also be affected if there is a war. Currently the market is also having slight corrections, bitcoin is not falling too much but altcoins are very bad, I think also due to the influence of recent war news. Oil prices are up, gold is up, DXY is volatile, cryptocurrencies are no exception.
Right now, the world is witnessing another round of big conflict in Middle East particularly Israel after Hamas operatives were able to penetrate the small country and made some havoc moves. In the international theater, we still have the unresolved Ukraine-Russia war and there are those sounding the alarm for the possibility of the China-Taiwan turmoil as well as escalated North-South Korea protracted relations.
Now, in the face of a global chaos, do you think holding on to Bitcoin is a good idea to protect our assets? Will it be acting like gold which can be so valuable during war?
Now, in the face of a global chaos, do you think holding on to Bitcoin is a good idea to protect our assets? Will it be acting like gold which can be so valuable during war?
The one thing all these conflicts is that the United States has been stoking the flames in each of them. The US will try to use its hegemony in an attempt to influence the outcomes. Countries that don't want to be at their mercy should consider using Bitcoin as an alternative. There is no reason why countries who aren't directly involved to put their own interests aside and stop transacting with sanctioned countries. Ordinary citizens of Palestine and many other places are unable to get aid that can alleviate their suffering and permissionless money is one of the very few options for supporting humanitarian organizations based in those areas.
It would heavily depend on the state of infrastructure around the world (aka power/internet)
If internet/power is still available, absolutely - it's possible Bitcoin could succeed fiat in reliability.
That being said, if internet/power are out, we'll probably resort to the same old standards - precious metals & necessary items.
If internet/power is still available, absolutely - it's possible Bitcoin could succeed fiat in reliability.
That being said, if internet/power are out, we'll probably resort to the same old standards - precious metals & necessary items.
do you think holding on to Bitcoin is a good idea to protect our assets? Will it be acting like gold which can be so valuable during war?
We are here often a lot story world between 2009 - and 2023, Is Bitcoin dead? No, bitcoin still exists even the price always fluctuates following the expansion. For those people who have experienced many incidents bigger than today, this is not much to worry, because the price is not so volatile than incident in past. So, if I were you, I will prepare a new cash to DCA more bitcoin. I still remember when covid happen on 2019-2020, there was a lot of confusing news that say bitcoin will die soon because many people take cash. But, what happen next is does not match their expectations, bitcoin price instead forming a new ATH, and demolished all the statements from editorial news.
Hodl Bitcoin in times of war is the best, the fact is you're protecting your asset because in times of war anything can happen, maybe the burning of banks or the burning of houses or maybe banks shutdown and such shutdown may lead to breakdown of physical asset. But I don't see Bitcoin fight against inflation in times of war.
I understand your point here you are avoiding holding anything physical because of the war and you can easily lose it. You have a point here.But I think what OP really want to mean here is the value of holding Bitcoin, in term of the price of Bitcoin. We all know that this current turmoil can be considered as fundamental analysis to add up in Bitcoin.
But for me, since this turmoil is only few countries are really affected, I don't think Bitcoin will also be affected here, not the same with COVID-19 before.
Right now, the world is witnessing another round of big conflict in Middle East particularly Israel after Hamas operatives were able to penetrate the small country and made some havoc moves.
Are you referring to Isreal a small when comparing it will Palestine? The whole Palestine, is small in land, population and power if compared to Isreal. I see the fight as foolishness because Isreal is far ahead in power and influence.Hamas groups got courage because they are probably backed by some Muslim countries. They won't do such acts if there is no backers that can support them with their terrorist act.
Now, in the face of a global chaos, do you think holding on to Bitcoin is a good idea to protect our assets? Will it be acting like gold which can be so valuable during war?
Bitcoin has showing itself to be better during war like this, but I do not know if it becomes world war. In countries where there is war, bitcoin sell at premium in such countries. Banks can be destroyed during war, but bitcoin wallet can not be destroyed as long as you have your seed phrase.I also think that Bitcoin will be effective in war as long as major countries are still operating normally. But when it comes to world war where almost all country are engage in war, I do not think it makes a difference since global transaction can be possibly disabled due to global effect of the world war. Distruction is everwhere and possibly even electrical and water supply will be affected. Without electricity and internet, Bitcoin transaction cannot be process due to miners unable to mine due to lack of internet connection and electricity
There are global tensions, you can call it a global conflict, but this isn't a global war like WW1 or WW2. This is closer to the Cold War. Society as a whole doesn't seem to believe that Bitcoin is a hedge against inflation and economic turmoil - this was the narrative behind the last bull run, and still Bitcoin crashed and entered bear market despite the growing inflation and economic instability. So I wouldn't expect anything good for Bitcoin from global geopolitcal tensions.
Now, in the face of a global chaos, do you think holding on to Bitcoin is a good idea to protect our assets? Will it be acting like gold which can be so valuable during war?
Yes, it is one example is the war between Ukraine and Russia I read one story where one Ukrainian sold all his assets and converted them to Bitcoin now he's waiting for the war to be over and while waiting his assets are growing, but in times of war in your country you need to protect your passphrase and its much better than carrying gold or cash because, in times of war, looting is very prevalent.
Also in times of war, your safety is more important than any of your assets, protect yourself first and if the war ends you have also protected your Bitcoin, there's a lot of uncertainty in times of war and there's no guarantee of how and when the war will end do your main priority in times of war is your safety and your love ones, they are the most valuable assets.
Hodl Bitcoin in times of war is the best, the fact is you're protecting your asset because in times of war anything can happen, maybe the burning of banks or the burning of houses or maybe banks shutdown and such shutdown may lead to breakdown of physical asset. But I don't see Bitcoin fight against inflation in times of war.
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Now, in the face of a global chaos, do you think holding on to Bitcoin is a good idea to protect our assets? Will it be acting like gold which can be so valuable during war?
In my opinion, Bitcoin holding will not only protect our assets in case of such Global Conflict, Bitcoin is always an alternative choice to make our assets more valuable in the future. But we also have to keep in mind that Bitcoin has volatilities, if you currently invest your necessary assets in Bitcoin, you should do it for the long term because its volatility can lower or increase the value of your assets at any time. It will act like gold only when invested in it through a long term strategy.Now my only point is that if your asset is such that you don't need it now and you want to invest in it for the long term in the future and you don't have to touch it even in an emergency situation then I would say you can invest there. Because in case of emergency case, if you have to withdraw BTC from here, it may happen that your asset protection will be fine but the value will decrease.
Bitcoin is built to withstand choas. It's called an antifragile system for a reason. If things around you begin to collapse in serious crisis, the tough ones like Bitcoin should remain unaffected, and that's what people will rush to hide their values in to benefit from their tough or antifragile feature.
So, it's most likely that a gradual increase in global choas will cause alot of people to move their assets or values to Bitcoin as they experience fragile or weak things failing around them. This kind of adoption, without relying on centralized systems that could fail alongside the fragile ones, is what will keep Bitcoin more valuable than assets that can't survive the choas. The wise who think longterm will anticipate this issues and choose Bitcoin or/and other antifragile things, especially those that can be easily moved around during the crisis.
So, it's most likely that a gradual increase in global choas will cause alot of people to move their assets or values to Bitcoin as they experience fragile or weak things failing around them. This kind of adoption, without relying on centralized systems that could fail alongside the fragile ones, is what will keep Bitcoin more valuable than assets that can't survive the choas. The wise who think longterm will anticipate this issues and choose Bitcoin or/and other antifragile things, especially those that can be easily moved around during the crisis.
The war between Israel and Hamas has nothing to do with Bitcoin because that war is a bilateral issue not an international issue. The war can impact the fiat currencies of the affected countries and Bitcoin can be savior in such times. Bitcoin is acceptable all around the world and can be accepted as a way of payment during hard times. The fiat currencies of those countries may lose some of the value and in such times Bitcoin won't lose any value and can be the best asset for the ones who live in those countries.
I don't think that China-Taiwan will take any steps towards war because China will never want to have any war with its neighbor country Taiwan. Although their relations aren't good but the war is not the only option I guess. The Bitcoin will hold its value during most critical times.
I believe Bitcoin doesn't lost its value due to Russia-Ukraine war and it won't get impacted by that war at all, but because it lost its value because of the scam coins, exchanges, and banks that were claiming to be good for crypto market. Bitcoin is the best way to protect your money from losing its value and yes it's the best asset for everyone. It will work better than gold during such war situations and it will work all the time.
I don't think that China-Taiwan will take any steps towards war because China will never want to have any war with its neighbor country Taiwan. Although their relations aren't good but the war is not the only option I guess. The Bitcoin will hold its value during most critical times.
I believe Bitcoin doesn't lost its value due to Russia-Ukraine war and it won't get impacted by that war at all, but because it lost its value because of the scam coins, exchanges, and banks that were claiming to be good for crypto market. Bitcoin is the best way to protect your money from losing its value and yes it's the best asset for everyone. It will work better than gold during such war situations and it will work all the time.
The example you used is such a localized and small conflict that doesn't have any global impact. At least so far and until no third parties get involved. But to answer your question, it depends on the scale of the conflict and the type of the battlefield. For example in a worse case scenario which is a global nuclear war, something like bitcoin is absolutely useless. So is fiat and any other assets and most probably even gold and other precious materials. But in a WW2-type conflict things could be very different to the point where something like bitcoin that can not be seized and can be carried across borders very easily and undetectably has the potential to shoot to the moon due to the massive increase in demand.
In short whenever the world is disrupted for any reason (COVID, energy crisis, economic crisis, war, etc.) things become too complicated to predict. We also have to consider dozens of factors affecting bitcoin and the economy to be able to make any kind of prediction.
In short whenever the world is disrupted for any reason (COVID, energy crisis, economic crisis, war, etc.) things become too complicated to predict. We also have to consider dozens of factors affecting bitcoin and the economy to be able to make any kind of prediction.
In case of war, Bitcoin in not usable, because probably you will not have electricity and Internet. Plus banks will be closed, so you can not exchange Bitcoins to FIAT too.
Fiat will still be acceptable as long as the inflation doesn't make them worthless. But we sure can see it will go that way if war tends to prolong. It is safe to assume banks will still launch CBDC though. This I think is one of the most possible things to happen even when there is war.
We know gold is sound currency but I doubt it will be important for the people when chaos strikes, the food, water, and medicine are going to be more valuable than BTC and gold.
Now, in the face of a global chaos, do you think holding on to Bitcoin is a good idea to protect our assets? Will it be acting like gold which can be so valuable during war?
There is no global chaos right now, it hasn't escalated to that yet. To be honest, i don't think it makes sense to be talking about how to keep your coins or fiat safe during times of war, i know you would also need money to survive in a time like that, but the first and most important thing when you are in a war zone is to stay alive, not only you, but your family and loved ones too. There have been horror images coming out of Israel, you cannot tell me that those people and their families are worried about their keys right now. Nevertheless, i think liquid cash would be more important in war times.
In case of war, Bitcoin in not usable, because probably you will not have electricity and Internet. Plus banks will be closed, so you can not exchange Bitcoins to FIAT too.
It could but at the same time there has to be a catch. The biggest of which is to ensure that bitcoin and the internet remains usable even after large global warfare and the catastrophic damage that it would ensue.bitcoin is great and all, we could use it for commerce during times of crisis but it has to be connected to the internet first before you can even hipe of getting access and some usage to it. I reclon that during wars this will be a really tricky issue since we’re all busy making sure we don’t die while the rest of the world burns to the ground. But should we figure out a sustainable way to retain our lives and sanity even during heavy global turmoil like global wars and stuff, economy will come next in the hierarchy of importance and at the same time bitcoin might just be the perfect currency there is
It is. But sticking to one asset would be a mistake and we should consider diversifying our money into different assets.
Gold, Bitcoin, Real Estate, Bonds are some good ways to diversify but we should also consider holding some liquid cash in case of such crisis.
We never know how long it can last and how deep it can impact the economy and so holding cash for daily expenses would be a good idea.
I don't understand why you have such thought.Gold, Bitcoin, Real Estate, Bonds are some good ways to diversify but we should also consider holding some liquid cash in case of such crisis.
We never know how long it can last and how deep it can impact the economy and so holding cash for daily expenses would be a good idea.
During crisis, your fiat will become worthless because the inflation surge really high.
During crisis, your real estate will become worthless too because no one want to buy it and many people would harm any buildings due to chaos.
During crisis, bonds will be worthless too since the government is struggling.
Gold need a good space and heavy, it's not flexible.
Only Bitcoin which can escape from everything I mentioned above.
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