Why the Ukrainian crisis is bullish for BTC

[kkaspar]

Re: Bitcoin infrastructure, and "relevance" of cash withdrawal limits' effect on exchange payouts -
There are services to pay bills with bitcoin. Services to buy gas. Order-placing services to buy anything on the internet. Thousands of online vendors. Services to order food, even.
Yes, it is less accessible in a country like Ukraine, but Ukraine isn't exactly a third world country either so don't give me that bullshit. Maybe 2 years ago, experiments in "living on bitcoin" in developed countries was very difficult, but now it's incredibly easy in most areas. For the last year I've bought 75% of my food and gas without touching USD, and it's not been inconvenient or difficult in the slightest. Examine your misconceptions. 50% of my electronics and auto parts. That the stores touch it is not my concern. I am no "cultist," lol, I'm as straightedge as they come, but I appreciate the humour.

Please start a detailed blog on how you could live with only using bitcoin. I think it would be quite famous and even could get some wide media coverage.
Right now I think that you are either exaggerating your claim or you live with your parents

[kkaspar]

I doubt that todays pump had much to do with Ukraine.
There is a 1000€ per day bank withdrawal limit, but that's just to avoid bank runs. You can still exchange to other fiat or make international bank transfers. It wouldn't be exactly a smart choice to go from 1 fragile currency to another just as fragile or more.
My guess goes that it's some outsider investment group that decided to copy Fortress, so they made a high risk bet and bought a planned amount of coins. Todays rise was caused by one entity who was rather careless about buying coins. You could often see pumps like these during the China boom. Pumps that are ok with buying coins in a short period and creating a drastic rise. Buys like these are made by people who are not interesting in hanging around at the bitcoin market for a long time. They only come to buy a determined amount, that was agreed upon by the board of directors.

Well fingers crossed they are back tomorrow.

Sure hope so. It hasn't been very fun since December.