In times of conflict Be your own bank

[Findingnemo]

Do you have to wait for conflict to take place to remember to be your own bank? 

Nope! Always be your own bank.

Atleast these kind of tough situations will kick in their ass and make them to realize what is the real money and we have been trusting the papers printed by government will save in those times. No matter how good the condition is we should never hoard our assets value in the form of fiat it should be in gold or land or physical assets and bitcoin as well.

[aysg76]

Do you have to wait for conflict to take place to remember to be your own bank? 

Nope! Always be your own bank.

As we have heard "necessity is the mother of inventions" and same thing is now happening across the globe like people are being awake to the fact that money they own is actually not theirs but center owned and they can put restrictions or even freeze it without asking you.So what's the solution for this? The answer is now well known by many people of Russia and Ukraine especially at this time who are witnessing Major btc and crypto transactions.Suddenly the prices have jumped and Russian currency has tumbled 26% which was expected.

People tend to understand it late because now they are witnessing it in reality and now btc has become their favourite choice as you can't freeze your hardware wallets.This is how bitcoin transfer ownership from banks to you.

International exchanges may restrict or freeze accounts of Russian users without warning. That's a possibility that's can happen with centralized exchanges.

Binance has said it will not block the account of innocent users but that's not the case with every exchange and whose funds are there are also prone to risk if you are residing basically in Russia as most of the payment processor like VISA and MasterCard have also have declined their services in Russia.

At this time only bitcoin is the one hope for people and maybe it's improve the global adoption and picture of btc.

[Marykeller]

That's the way it has been when war happens, nothing seems to works, both the bank and companies. This will be a big lesson for those that keep their whole money in the bank and refuse to invest in crypto. Storing your money in the bank is not secure as it seems when situations like war arise. You lose everything both property and assets.
Locking people's bitcoin accounts on a centralized exchange because they are from Russia shouldn't be considered rather be opposed.  

[Oceat]

That's the way it has been when war happens, nothing seems to works, both the bank and companies. This will be a big lesson for those that keep their whole money in the bank and refuse to invest in crypto. Storing your money in the bank is not secure as it seems when situations like war arise. You lose everything both property and assets.
Locking people's bitcoin accounts on a centralized exchange because they are from Russia shouldn't be considered rather be opposed.  

And why people would use a centralized exchange if banks is enough to know that they will lock your account in the future or if there's a war? Be your own bank and use a hardware wallet to save your Bitcoin and not the custodial wallet where they control your private keys, it should be your who controls it.

That's why we have a hardware wallet if you want to bring to you or hide it somewhere safe so that no matter what happens as long as they device is intact your Bitcoin and money is safe.

[witcher_sense]

Actually Monday, after the initial shock, it has recovered (I don't know though if it was natural or it was a massive intervention of the central bank), but Tuesday was again on a losing trend.
You can see the chart here for EUR-RUB (so increase means RUR losing value) : https://www.investing.com/currencies/eur-rub-chart

I am not an economist, but I think that the extent to which any Central Bank can intervene in currency exchange markets is very limited, the best they can do is look at the market price history of a certain currency and set some weighted average rate. It is the market that has real power and dictates the price, so central banks can do nothing except for accepting reality and taking some temporary measures to prevent the collapse of a currency. That is one of the reasons I like bitcoin: central banks here have no power at all at dictating prices, everything is a market's pure decision, everything abides by the laws of supply and demand, no government intervention is possible. I mean, they still can affect markets indirectly by imposing strict regulations, but they cannot command prices directly.

About the price of the goods and services I do agree with you. Those show much more accurately the inflation, those prices cannot be manipulated so easy by the central bank.

Prices, especially for electronic devices, have skyrocketed... products of certain brands have disappeared from the market. You can't buy Apple devices anymore, the last price for a MacBook was more than one million rubles, which is an incredibly high price.

Converting a currency hit by heavy inflation into anything that doesn't fall is already a leap forward. Bitcoin has its history of wide price variation, hence buying Bitcoin is a bit risky - let's be honest - especially if one doesn't want (or cannot) hold for many years. So I cannot call it perfect yet. Right now Bitcoin took the path of store-of-value assets and its price grows, making it a very good deal for those believing it from start.
But those hit by this war will have to take decisions in a hurry and I won't blame them if they don't choose Bitcoin this time. I could blame them though for not buying Bitcoin in the past months or years.

Still, as I wrote in another place: Bitcoin is the easiest way to carry your money/savings/wealth when you flee.

You're right, when there is very high inflation or hyperinflation, it is economically rational to spend falling currency as fast as possible to preserve at least some of your wealth. However, the problem with this strategy is that you still need money to make transactions, you can't get back to a barter system and use the goods you bought for acquiring goods you want now. This system barely works, if at all, at scale, so instead of buying useless goods you don't want and can't use, it is better to exchange your falling currency for a harder and more liquid one.

[NeuroticFish]

I am not an economist, but I think that the extent to which any Central Bank can intervene in currency exchange markets is very limited, the best they can do is look at the market price history of a certain currency and set some weighted average rate. It is the market that has real power and dictates the price, so central banks can do nothing except for accepting reality and taking some temporary measures to prevent the collapse of a currency.

I'm not an economist either, but I've read the news and I understood (on a certain extent) what the Central Bank does in my country.
It has some big reserves to play with, reserves that he can exchange at will in an attempt to soften the shocks on the Forex exchange(s).
You can see it as the biggest whale on the market, but its aim is not to get the biggest gains, instead to get the price (of the local currency) more predictable (on long term).
Indeed, the actions are not unlimited, but they're far from being something to ignore. So it's not really, or not always the free market the one dictating the price  

[m2017]

His only fault is that he is a Russian Citizen? World has gone mad. Some impose sanctions on others, the second blocks the funds of others ...

The times are such that today every person should think only about himself, take care only about himself, about his assets, trusting absolutely no one. Because, as time shows, the one who is nearby easily and at any moment betrays you, completely without hesitation. Your money will be yours as long as you have it around without trusting anyone.

I don't think that these times are special. Yes, unpleasant and complex, but this has happened many times in the history of mankind. It seems to me that now the phase of aggravation and what you write about is becoming the most noticeable. At no time should one be blindly trusted in anyone and one should always be on the alert for problems to arise. Blocking stories are proof of this.

On the positive side, people are now smarter and more capable of managing their own finances. Fortunately, Bitcoin is a first-class tool for this. It is very fortunate that we have such an opportunity.   

What is happening now in relation to innocent people only says that those who take such positions are ready to take the side of the majority, not understanding the truth of everything that is happening. The masks are being thrown off, although time may show who is actually right.
 

I don't understand why these organizations blindly copy the behavior of the majority. Why can't they just be neutral towards innocent people? Why block everyone indiscriminately?

Many questions, the answers to which we are unlikely to learn from them.

I only know one thing. It is necessary to observe the behavior of such companies: how they behave now, how their actions will change after stabilization. After that, ask yourself the question: do I want to use their services?

If even now these problems have not affected you in any way, then is there any guarantee that next time you will not be in the place of the victim.