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Topic: Ukrainians Embrace Bitcoin For Daily Purchases: Report (Read 227 times)

legendary
Activity: 3248
Merit: 1128
Now ukraine citizens are getting great benefits from bitcoin, I hope this can help so that ukraine does not find it difficult to meet their needs, and of course this is a very effective campaign to silence haters who are currently still actively spreading FUDs.
It is basically about how people only saw crypto as a way to make money, and that is all they thought what bitcoin was all about. There are so many FUD people who talked about bitcoin being zero, and those people only assumed the trading part of crypto, never considered the benefits of it. Plus, bankers are also very afraid because this allows us to do it a lot better and not use banks and feel a lot better about the current situation.

This is why I believe that we are in a stage where we could make some money, meanwhile making some benefits that banks could not offer us, and allow us to get away from the centralization of it all.
hero member
Activity: 1694
Merit: 722
Leading Crypto Sports Betting & Casino Platform
That was very much expected for Ukraine and Ukrainian people to see them embracing and using bitcoin for their payments and investing in their situation, generally, bitcoin can be more used by the people whenever they are suffering some kinda crisis this asset can help people during this time since there are many banks issues in Ukraine and many banks are said to do not give too much cash to people they can easily us bitcoin, also there are some donations for them from all over the world from by bitcoin, so they should love and use bitcoin.
legendary
Activity: 3150
Merit: 1392
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I think Elon Musk's starlink satellite internet service costs $500 for initial cost and $99 month afterwards. If internet connectivity and financial services go down, perhaps the richest man in the world would not mind donating some of his starlink services to ukraine. Mainstream adoption of satellite internet could be another good measure to standardize for cases of civil unrest, war and natural disasters.
He already did, actually. Some Starlink modules have already arrived in Kyiv, and some are currently on the road. Yes, satellite Internet from Musk will be of great help, but I have no idea how much surface it can actually cover and how this will technically work. Another thing how connection issues are being addresses is via making a temporarily unified national roaming system for mobile phones. We have 3 major mobile phone connection providers (telecommunication companies), and it's often the case that some have better coverage than others in some areas or under some circumstances. For the time of war, they are all working together, so that people who have a SIM from one of these companies can switch the network to that of other providers.
hero member
Activity: 1904
Merit: 510
Ukraine is embracing bitcoin for daily purchases, maybe this is a very good step for Ukraine, because when they are in war, their economy is also experiencing a decline, but they are trying to embrace bitcoin to restore their economy, because if the country is in crisis war is certain that all of our activities are hampered, so the best solution is to use bitcoin for daily purchases.
full member
Activity: 2100
Merit: 174
Quote
Now ukraine citizens are getting great benefits from bitcoin, I hope this can help so that ukraine does not find it difficult to meet their needs, and of course this is a very effective campaign to silence haters who are currently still actively spreading FUDs.

Congratulations to Ukraine citizens for the good benefits they have received from bitcoin. This offer can sustain Ukraine citizens through out the war for other countries to have interest on bitcoin in their countries. I believe Ukraine citizens will never forget this benefits they got from bitcoin few days ago because of the damages Russian government has caused to their economy, that is making them not to have a stable light and network to carry out their industries activities in the country. The haters of decentralized currency will now believe the words of Satoshi the founder of bitcoin who created bitcoin to eliminate errors from the world economy and reduced unemployment and hardship from the world generally.
legendary
Activity: 2758
Merit: 1228
Now ukraine citizens are getting great benefits from bitcoin, I hope this can help so that ukraine does not find it difficult to meet their needs, and of course this is a very effective campaign to silence haters who are currently still actively spreading FUDs.

Over the past years we can say that the number of bitcoin haters or doubters decrease because many see that bitcoin really help in certain aspects and also this create huge opportunities to everyone around the globe. This current stepping up of Crypto and its huge usage in amidst war in Ukraine for sure many will see how useful the bitcoin is and there's no one can control it.
hero member
Activity: 2870
Merit: 594
Now ukraine citizens are getting great benefits from bitcoin, I hope this can help so that ukraine does not find it difficult to meet their needs, and of course this is a very effective campaign to silence haters who are currently still actively spreading FUDs.

They've already received millions in donations through bitcoin and other cryptos, so for sure they can meet their demands with the donations they got.

For FUD, it will be here, not matter if we are in a bear market or bull run, or even in covid or war, it is what it is. What's important is that this FUD are not that effective anymore, maybe investors are immune to it and they don't give a damn and simply put the noise down.
sr. member
Activity: 1722
Merit: 252
Now ukraine citizens are getting great benefits from bitcoin, I hope this can help so that ukraine does not find it difficult to meet their needs, and of course this is a very effective campaign to silence haters who are currently still actively spreading FUDs.
member
Activity: 454
Merit: 10

Kraken is offering $1,000 free to the first 10,000 accounts in ukraine who claim it.


This is of course good news, but how do users in Ukraine exchange their crypto to fiat when there are many banks that are not operating?

I believe those who were aware of cryptocurrency and had account on Kraken are far away from war zone (or have travelled abroad) and can use white or grey methods to turn crypto into cash. I believe that those, who are on war zone territory right now, only heard what is crypto.

Imho, people who had knowledge what is crypto and had exchange accounts, are average class, has money (at least emergency money) to move out quickly from Ukraine. They will find access to the internet and will withdraw that gift from Kraken. Low level class people are left in war zone, people who find it impossible to leave their property, relatives and etc. Sorry, but their maximum is having a bank account and only hearing about "the internet money" aka crypto.

but there must be one or more people who own cryptocurrencies in the area, regardless of their economic condition. because indeed everyone nowadays can own crypto, even those of the lower economic community now have access to cryptocurrency ... it's not something fancy to have.
hero member
Activity: 504
Merit: 816
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I believe those who were aware of cryptocurrency and had account on Kraken are far away from war zone (or have travelled abroad) and can use white or grey methods to turn crypto into cash.


What do you base your assumption on?

I believe that those, who are on war zone territory right now, only heard what is crypto. Many Ukrainians who not only aware of cryptocurrencies, but also use them, invest in them and even create new tokens, have remained in Ukraine and are now in the midst of war zone. There is no correlation between their awareness and going abroad or far away from the war.



Imho, people who had knowledge what is crypto and had exchange accounts, are average class, has money (at least emergency money) to move out quickly from Ukraine. They will find access to the internet and will withdraw that gift from Kraken.


Having money and crypto doesn`t imply that you will leave your country, which was attacked by troops of another state. Many of our people have joined the army or territorial defense and are now defending the homeland. Moreover, men of military age cannot leave Ukraine now. So how can you say that people who had knowledge what is crypto and had exchange accounts, are average class, has money (at least emergency money) are moving out quickly from Ukraine?



Low level class people are left in war zone, people who find it impossible to leave their property, relatives and etc. Sorry, but their maximum is having a bank account and only hearing about "the internet money" aka crypto.


Again, why did you decide that only people, who don`t have money, remained there? Besides that, in Ukraine quite a lot of people not only heard but also bought cryptocurrency. The problem of saving money was very relevant for us even before the war. That's why our people are creative in finding new ways to save their money. And now most of these people are staying in Ukraine.
member
Activity: 559
Merit: 48

Kraken is offering $1,000 free to the first 10,000 accounts in ukraine who claim it.


This is of course good news, but how do users in Ukraine exchange their crypto to fiat when there are many banks that are not operating?

I believe those who were aware of cryptocurrency and had account on Kraken are far away from war zone (or have travelled abroad) and can use white or grey methods to turn crypto into cash. I believe that those, who are on war zone territory right now, only heard what is crypto.

Imho, people who had knowledge what is crypto and had exchange accounts, are average class, has money (at least emergency money) to move out quickly from Ukraine. They will find access to the internet and will withdraw that gift from Kraken. Low level class people are left in war zone, people who find it impossible to leave their property, relatives and etc. Sorry, but their maximum is having a bank account and only hearing about "the internet money" aka crypto.
hero member
Activity: 2086
Merit: 603
Seems good but I’m not sure if they are able to do it from crypto to fiat payments or just crypto to crypto. Because since fiat is being restricted by the banks and that is but obvious. I am pretty sure they might be just trading crypto to crypto by calculating the prices in fiat units.

Though claims might be incomplete or just reports to get more TRP this is the logical currency which Ukraine can use it. If the crypto wouldn’t have been here then they might have just be left to trade left over fiat and later stones and sticks?!!
member
Activity: 454
Merit: 10

Kraken is offering $1,000 free to the first 10,000 accounts in ukraine who claim it.


This is of course good news, but how do users in Ukraine exchange their crypto to fiat when there are many banks that are not operating?
legendary
Activity: 2576
Merit: 1860
~snip~

~snip~

A big thanks for clarification!

The problem with these Bitcoin-centered online publications is that they tend to exaggerate and sensationalize so much so that accuracy is completely gone from their articles. They are supposed to be part of the media, whose sole function is simply to report facts. However, it's not the case anymore with these crypto publications. It seems their business is crypto or Bitcoin marketing and promotion. They're now behaving like the traditional media which has become a tool for mind conditioning, although these crypto publications are on the other side of the fence.
legendary
Activity: 3066
Merit: 1047
Your country may be your worst enemy
3 years ago, I almost bought a house in Ukraine. None of the buyers I've talked to accepted Ukrainian currency as payment, they all wanted US$. I'm not sure they would accept BTC nowadays, but it's possible. When it comes to daily purchases, the use of BTC seems absolutely impossible to me. You can't buy anything with it, but Ukraine still has some 3 cents banknotes.
legendary
Activity: 2912
Merit: 6403
Blackjack.fun
However, I have heard that Ukrainian money is not accepted everywhere in the world. So, in essence, it was a block?ot everyone will accept bitcoin for everyday purchases.

It's not Ukrainian money it's cash that is not accepted and of course, it's not, do you think a store in Hungary will accept Polish zlotys or a store in Portugal danish krone?  Visa cards from Ukraine still work, you can use them everywhere in the world and they are still working fine even in conflict zones.
Besides both in Poland, Slovakia, and Romania banks have been starting to accept cash exchanges to euros to help refugees, those were not in place before because there was little need for them, apart from border towns you would rarely have Ukrainians exchanging cash, just how you won't be able to find that many taking yens around here.

Sorry  but it's bullshit that ukraine lacks financial services or payment methods and that people turn to bitcoin.

Of course, everyone would ask themselves, because visa and MasterCard and bank payments are down, Ukrainians would use bitcoins they've bought...how?  Grin
legendary
Activity: 3024
Merit: 2148
Sorry  but it's bullshit that ukraine lacks financial services or payment methods and that people turn to bitcoin. In most of the country you can pay with visa/Mastercard cards, thanks to Ukraine's law that all small businesses must install cash registers. And all Ukraine's banks still function with little disruption. But cash is a must have if you are moving through rural areas or active warzones.
hero member
Activity: 2352
Merit: 594
First, there's no infrastructure in Ukraine to use Bitcoin for everyday things! Some stores and cafés have been accepting Bitcoin for years, sure, but during the war, the 'everyday use' is limited to two things: supermarkets and pharmacies. I've lived in Ukraine for most of my life, and I've never seen an option of paying in Bitcoin in places like that.

I am also from Ukraine, and I can say that now, in addition to what you said, there are no special opportunities to use bitcoin in everyday life, also because in many settlements there are problems with the Internet. They are not permanent, they are periodic, they are tried to be solved  as soon as possible, but they are presemt here. But even this is not such a problem compared to the fact that many people now simply do not have access to electricity, and simply can not charge devices that could later be used to pay somewhere with bitcoins. Of course, I am grateful for any help for us, but it is too early to say that Ukrainians embrace Bitcoin for daily purchases.

Just keep your chin up and hope that this will come to an end soon. Yes, it is extremely difficult to use bitcoin without a device and an internet connection, but I believe that if you travel to other countries, such as Poland, you will be able to charge your device and obtain electricity. However, I have heard that Ukrainian money is not accepted everywhere in the world. So, in essence, it was a block? Because it can be used anywhere, cryptography is extremely beneficial in terms of saving time. I believe that, unless you live in a first world country, not everyone will accept bitcoin for everyday purchases.
hero member
Activity: 1862
Merit: 830
I was not aware of kraken gifting it's users 1000$ in Bitcoins, god I would have just signed up for it! Sad missed the package.
Rest lemme answer some questions here :

1. The bank itself is not really directly cutting off the traditional payments but we have a shortage of cash supply and at the same time people are not able to withdraw since most of them ran to other countries..

2. You won't be able to withdraw cash, it's a problem that I encountered for a week straight since people are looking to get every single bit of cash that there is therefore ATM is always out of the money since the whole burden is on the west.

3. Bitcoin is very popular in Ukraine, there are offices as well where you can go in person and buy them, those places are generally working normally and you can make payments in Bitcoin to the people that accepts that.

4. Donations are pouring down unfortunately it's not directly going to the public, it's used by the government to fund everything, from military to other food chains being set up in the local west. Therefore it's not like ukranians are becoming rich, on the other hand they are struggling really bad.
legendary
Activity: 2912
Merit: 6403
Blackjack.fun
The only thing I don't understand in the quotes from the op is the part about Ukrainians embracing Bitcoin for everyday purchases due to the central bank cutting traditional payment rails.

As always news like that is overly exaggerated, it has been like that for all countries, Malta, Venezuela, Cyprus Syria and Afghanistan.

Even if we wouldn't have confirmation from poeple like you on the ground that's not the case the article itself shows no proof of "daily purchases growing" and actually in the entire article they are not mentioned anywhere but the title.
The crypto press is right now falling below dailymail or thesun and I've never thought that would be even possible.

Has anyone tried to calculate how much support Ukraine has already received or will receive during war period? War is terrible, and it requires a lot of resources. But every day I see articles how countries and business are helping Ukraine. After seeing how huge help is, I start to think that if not the war, Ukraine might turn to be one of most developed countries.

Not a chance, unfortunately.
Kraken might be donating 10 million and that might sound much but when you have a full block of flats destroyed that alone cancels the entre donation, and there are thousands of poeple who have lost their homes, their jobs, and everything else. Donations will just help short-term with a struggle to survive but in order to reconstruct the county after the war even if it stops now you will need tens of billions, not counting the fact that no amount of donation will bring the thousands dead back to life.
They will need a Marshall Plan after this.
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