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Title: Ukrainians Embrace Bitcoin For Daily Purchases: Report Post by: Hydrogen on March 09, 2022, 05:03:01 PM Quote NYDIG’s February report highlights how Ukrainian military support continues its influx by the millions as Russian Bitcoin transactions rise.
Ukrainians have embraced bitcoin for everyday purchases as its central bank cuts traditional payment rails. NYDIG, a financial company that focuses on institutional-grade Bitcoin solutions, released its February 2022 Bitcoin Brief report discussing relevant statistics related to bitcoin as an asset, comparing it to other financial products, and diving into Bitcoin metrics in Ukraine as the Russian invasion perdures. Speaking to cultural and geopolitical concerns, NYDIG’s report highlighted how “in just seven days, over 113,000 digital asset donations were sent directly to the government or an NGO providing support to the military.” As of March 4, the total value of donations reached $57 million, the report said. Ukrainians have also been embracing bitcoin for everyday purchases as “the National Bank of Ukraine suspended the foreign exchange market, limited cash withdrawals, and prohibited the use of fiat currencies via digital platforms like Venmo or PayPal,” per the report. As the invasion continues, NYDIG discussed the theories of Russian purchasing of bitcoin as a way to skirt sanctions saying, “Since the invasion began through March 4, the bitcoin / ruble pair has traded about $62 [million] in volume on Binance (Russia’s dominant crypto exchange), while the market cap of bitcoin has increased by $75 [billion].” They concluded this with, “These are not comparable numbers.” Bitcoin was up around 9% in February, marking a deviation from the norm as other risk-on assets approached negative territory. This point was strengthened during January when bitcoin dipped along with other risk-on assets. https://bitcoinmagazine.com/culture/ukrainians-embrace-bitcoin-for-daily-purchases-nydig-report .... Quote Kraken exchange is gifting $1,000 in Bitcoin to every user in Ukraine Kraken is putting together a massive assistance package to help victims of Russia’s ongoing invasion of Ukraine, with over $10 million going straight to those who have been affected. Clients who opened an account with Kraken before March 9, 2022 will be entitled to receive $1,000 in bitcoin, which may be withdrawn immediately from our exchange, starting tomorrow and lasting until July 1. At this time, currency conversion expenses of up to $1,000 will be waived. “We hope to continue being able to provide critical financial services in a time of need to both our clients in Ukraine and in Russia,” said Jesse Powell, CEO of Kraken. “Cryptocurrency remains an important humanitarian tool, especially at a time when many around the world can no longer rely on traditional banks and custodians.” As part of the effort, Kraken will also donate an amount equivalent to the total trading fees paid by Russia-based clients in the first half of 2022 to the aid package. Further, additional aid may be announced as the crisis continues to unfold. https://news.coincu.com/71268-kraken-to-distribute-over-10-million-in-aid-to-clients-impacted-by-ukraine-crisis/ Kraken is offering $1,000 free to the first 10,000 accounts in ukraine who claim it. Ukraine currently lacks financial payment options with the closure of services like paypal in the country. That vacuum is now being filled by ukrainians using bitcoin. Another interesting angle to this is Elon Musk warning starlink satellite internet users to be cautious with their usage: https://twitter.com/elonmusk/status/1499472139333746691 Apparently, starlink is the only non russian communications service in the country which still works and there are some missiles which lock onto sources of EM radiation like satellite dishes and home in to destroy them. Title: Re: Ukrainians Embrace Bitcoin For Daily Purchases: Report Post by: Haunebu on March 09, 2022, 05:21:25 PM Kraken's offer is pretty good considering the fact that there are millions of Ukraine citizens who could survive this war thanks to that amount. Other popular exchanges need to learn from Kraken in this aspect.
BTC has been going up and down within the $30K - $40K range for sometime now for reasons like Omicron, Russia-Ukraine War etc. Am surprised that it didn't rise even further passing the $50K barrier due to the collapse of Ruble. Am expecting it to reach a new ATH if this invasion continues for the next couple of weeks. Title: Re: Ukrainians Embrace Bitcoin For Daily Purchases: Report Post by: Captain Corporate on March 09, 2022, 05:50:25 PM The fact that the whole world is showing support for Ukraine is both great, and also a bit sad at the same time. This type of money could be life changing for many towns and cities all around the world but we did not do it, why? I believe mainly because how people said "these are white skined, blonde people". I mean if we help Ukraine this much (which is AWESOME) but ignored the helps of africans and arabic people who are getting brutally murdered at the hands of some dictators or terrorists, that shows how little we care about people who are not like us. If aggression is the reason we put sanctions on Russia, when will we start doing it for USA? They have been aggressor for many wars in the past 30+ years. Title: Re: Ukrainians Embrace Bitcoin For Daily Purchases: Report Post by: mk4 on March 09, 2022, 06:14:16 PM Kraken's Jesse Powell is honestly one of the best exchange CEOs out there in terms of philanthropy and community cooperation. Afaik he's also the only exchange CEO that publicly said that you shouldn't unnecessarily leave funds on exchanges(if you're not trading).
Give him a follow on Twitter: https://twitter.com/jespow Title: Re: Ukrainians Embrace Bitcoin For Daily Purchases: Report Post by: Husires on March 10, 2022, 01:08:42 PM These reports are not accurate, but are measured based on media reports.
The war is still in its infancy, and we do not know how it will end. Title: Re: Ukrainians Embrace Bitcoin For Daily Purchases: Report Post by: Erumo on March 10, 2022, 01:16:10 PM 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. After seeing, that so many help Ukraine in exchange for nothing, I start to think that if humanity sets a goal to become better, with everyone's help, it can really be achieved.
Title: Re: Ukrainians Embrace Bitcoin For Daily Purchases: Report Post by: kryptqnick on March 10, 2022, 01:39:26 PM 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. I'm from Ukraine, and I have tons of friends and relatives who are currently in Ukraine (I've also lived in Ukraine throughout 2019-2021). 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. Then there's the second part about the central bank. What is that about? In Ukraine, the vast majority use banks like Privatbank and Monobank. I'm not 100% sure regarding Monobank, but I can confirm that Privatbank cards work both in Ukraine and abroad right now, and no limitations were officially set on paying by card. Regarding the limitations from the Central bank of Ukraine on foreign currencies and withdrawals, they were lifted (https://www.epravda.com.ua/news/2022/03/8/683556/).
Title: Re: Ukrainians Embrace Bitcoin For Daily Purchases: Report Post by: Etranger on March 10, 2022, 03:02:24 PM 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. Title: Re: Ukrainians Embrace Bitcoin For Daily Purchases: Report Post by: Hydrogen on March 10, 2022, 03:21:25 PM Then there's the second part about the central bank. What is that about? In Ukraine, the vast majority use banks like Privatbank and Monobank. I'm not 100% sure regarding Monobank, but I can confirm that Privatbank cards work both in Ukraine and abroad right now, and no limitations were officially set on paying by card. Regarding the limitations from the Central bank of Ukraine on foreign currencies and withdrawals, they were lifted (https://www.epravda.com.ua/news/2022/03/8/683556/). That is certainly good news! When the coup in myanmar happened in 2021. I think their banks were completely shut down for a time. Which caused many to expect something similar in ukraine. It appears russia may have opted for periodic blackouts, rather than hard blackouts as myanmar experienced. Or perhaps ukraine's internet infrastructure is more hardened than myanmar's and copes better with electronic attacks. 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. Title: Re: Ukrainians Embrace Bitcoin For Daily Purchases: Report Post by: avikz on March 10, 2022, 03:36:47 PM It's a temporary trend. I don't see a reason for this trend to continue post the war once things will normalize. Bitcoin is a great investment but not a great currency system. It's expensive and slow which makes it a bad currency system. People from Ukraine is possibly resorting to it due to the war and other difficulties related to cash but there's ni good reason for it to continue.
Bitcoin will become a great currency system only if its price stabilizes. Title: Re: Ukrainians Embrace Bitcoin For Daily Purchases: Report Post by: Ararbermas on March 10, 2022, 03:56:08 PM 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. And there's no need to worry because that donation for every Ukrainians will not disappear, if however up to now there's no stable internet and electricity because it's really a big problem to be honest. But for me IMO much better keep that bitcoin donation because surely it's a big help for fast recovery after that war, wherein i will gonna ask relief goods instead in order to survive than spending it. Title: Re: Ukrainians Embrace Bitcoin For Daily Purchases: Report Post by: Etranger on March 10, 2022, 04:13:07 PM 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. And there's no need to worry because that donation for every Ukrainians will not disappear, if however up to now there's no stable internet and electricity because it's really a big problem to be honest. But for me IMO much better keep that bitcoin donation because surely it's a big help for fast recovery after that war, wherein i will gonna ask relief goods instead in order to survive than spending it. Thank you for your support! Unfortunately, I missed that information about Kraken`s donations for this very reason. It's too late to register today, I was just a few hours late. Therefore, after the war I will have to look for other ways to recover. Title: Re: Ukrainians Embrace Bitcoin For Daily Purchases: Report Post by: stompix on March 10, 2022, 04:51:41 PM 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. Title: Re: Ukrainians Embrace Bitcoin For Daily Purchases: Report Post by: fiulpro on March 10, 2022, 05:07:38 PM 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. Title: Re: Ukrainians Embrace Bitcoin For Daily Purchases: Report Post by: xSkylarx on March 10, 2022, 06:17:00 PM 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. Title: Re: Ukrainians Embrace Bitcoin For Daily Purchases: Report Post by: hatshepsut93 on March 10, 2022, 07:08:42 PM 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.
Title: Re: Ukrainians Embrace Bitcoin For Daily Purchases: Report Post by: stompix on March 10, 2022, 11:51:20 PM 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 (https://www.reuters.com/world/ukraine-economic-adviser-says-war-damage-tops-100-billion-so-far-2022-03-10/). 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? ;D Title: Re: Ukrainians Embrace Bitcoin For Daily Purchases: Report Post by: countryfree on March 11, 2022, 12:09:48 AM 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.
Title: Re: Ukrainians Embrace Bitcoin For Daily Purchases: Report Post by: Darker45 on March 11, 2022, 02:01:22 AM ~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. Title: Re: Ukrainians Embrace Bitcoin For Daily Purchases: Report Post by: Moneyprism on March 11, 2022, 02:51:28 AM 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? Title: Re: Ukrainians Embrace Bitcoin For Daily Purchases: Report Post by: so98nn on March 11, 2022, 07:38:47 AM 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?!! Title: Re: Ukrainians Embrace Bitcoin For Daily Purchases: Report Post by: Erumo on March 11, 2022, 08:01:52 AM 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. Title: Re: Ukrainians Embrace Bitcoin For Daily Purchases: Report Post by: Etranger on March 11, 2022, 09:15:31 AM 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. Title: Re: Ukrainians Embrace Bitcoin For Daily Purchases: Report Post by: Moneyprism on March 11, 2022, 09:36:53 AM 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. Title: Re: Ukrainians Embrace Bitcoin For Daily Purchases: Report Post by: 19Nov16 on March 11, 2022, 10:47:16 AM 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.
Title: Re: Ukrainians Embrace Bitcoin For Daily Purchases: Report Post by: Yaunfitda on March 11, 2022, 11:54:35 AM 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. Title: Re: Ukrainians Embrace Bitcoin For Daily Purchases: Report Post by: ultrloa on March 11, 2022, 12:25:07 PM 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. Title: Re: Ukrainians Embrace Bitcoin For Daily Purchases: Report Post by: Sebas.tian on March 11, 2022, 12:46:12 PM 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. Title: Re: Ukrainians Embrace Bitcoin For Daily Purchases: Report Post by: ropyu1978 on March 11, 2022, 01:30:37 PM 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.
Title: Re: Ukrainians Embrace Bitcoin For Daily Purchases: Report Post by: kryptqnick on March 11, 2022, 02:17:10 PM 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 (https://www.ukrinform.net/rubric-ato/3421352-starlink-stations-arrive-in-kyiv.html), 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 (https://thepage.ua/ua/news/nacionalnij-rouming-pid-chas-vijni-ukrayinci-mozhut-pidyednatis-do-inshih-merezh-de-nayavne-pokrittya) 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.Title: Re: Ukrainians Embrace Bitcoin For Daily Purchases: Report Post by: Leviathan.007 on March 11, 2022, 04:47:53 PM 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.
Title: Re: Ukrainians Embrace Bitcoin For Daily Purchases: Report Post by: sana54210 on March 11, 2022, 06:21:53 PM 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. |