I don't discuss about geopolitical issues or war here. Let's consider about what is going on and will happen with (against) Russia. They under the dictatorship of Putin, really invaded Ukraine and ignored all international standards. They are punished by massive sanctions on their bank system and many areas. Because we do know Bitcoin is peer-to-peer, borderless so will Russia do something like North of Korea, trying to use Bitcoin as one of their last resorts? With Bitcoin, they can avoid traditional sanctions against them. To do this, will they legalize Bitcoin in Russia soon?
Let me say, I hate war!
The whole cryptocurrency industry hates war because everybody can be affected. I am based in Asia but we can already feel the side-effects brought on by this invasion of Ukraine because gasoline prices are going up and there is a big possibility that flour can also go up wildly which can affect the prices and quality of breads here, not to mention the coming increase in feeds for animal raising. The destructive nature of war especially this one in Ukraine right now is to affect even people who are in remote places of the world, so away from Europe.
Now, with the imposed sanctions carried by different countries who are not big fans of Vladimir Putin - may be with the big exemption of China, Iran, North Korea and to some extent Germany which is under the mercy of Russia on energy - it would be hard for Russia to do business internationally but am sure that Putin is not a naïve general so as to not thought on this scenario in advance. I am sure that Bitcoin or cryptocurrency for that matter has been on the table of Putin as one of the best alternatives to get away from sanctions.
But the question is: Will this be good for Bitcoin in the long run?
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