Potential Korean War and bitcoin super bull

[jawadmehmood]

Agreed. To reserve their wealth they have to buy more bitcoin

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[Realist247]

As of now, Korean exchange BTC trading at 22.7K while the international market is trading at 16K

If a war broke out

1. NORTH KOREA:Kim would buy MORE bitcoin because he knows he will almost lose for sure. The only way for Kim to preserve his wealth is probably by buying a bit of everything but mostly things like bitcoin. He could run away and hide in somewhere in China after NK loses.

2. South Korea would panic BUY bitcoin because Korean Won value would probably depreciate by 50% overnight. Also, if South Koreans were to run away from Korea the only quickest viable way to protect their wealth is to buy bitcoin - then take the hardware wallet with you to another country

3. Japenese average Joe would also BUY bitcoin beacuse they fear the war would drag down Yen's value and they would rush to preserve their wealth

4. In general all East and SE Asian currencies will face downward pressure pushing people to hedge by buying BTC

5. If China supports NK in the war, it will be a war between China and US. China+ NK probably will lose, this will induce a huge instability within China and Chinese will again, flock to bitcoin to hedge against it.

Thoughts?

How about USA, SK, Japan lose and China, Rusia and NK win??? what's going on???

If that happens there won't be a winner...especially crypto hodlers.

[CrowdFunder]

South Korea BTC is trading at $20K right now.
Do you think this is pure speculation or are they actually partially hedging against an event of an outbreak of North Korea, American war?
If US goes to war with North Korea tomorrow, I feel BTC could surge by 100% in one day - what do you think?

There is little correlation between war and the price of bitcoin. While bitcoin is a hedge against a downturn, a limited conflict in a specific place in the world wouldn't even affect global markets let alone bitcoin. If anything the prospect of death and destruction in South Korea would lead South Koreans to use bitcoin.

[uslfd]

This is probably too abstract for many to understand so let it sink in before you react.  If people are really scared of war, they are better off pulling cash out of their banks and putting it in a foreign investment account.

Not everyone is rich enough to have a foreign investment accont.
Think the average citizen who owns around $70K USD of cash, if a local war i.e. US to NK is 90% likely to break out, they would most likely immediately buy $40/50K USD worth of bitcoin, store it on a hardware wallet, whole family flees South Korea and stay at friend's or relative's place overseas place somewhere in US or Australia or China until things calm down.

[Realist247]

This is probably too abstract for many to understand so let it sink in before you react.  If people are really scared of war, they are better off pulling cash out of their banks and putting it in a foreign investment account.

Not everyone is rich enough to have a foreign investment accont.
Think the average citizen who owns around $70K USD of cash, if a local war i.e. US to NK is 90% likely to break out, they would most likely immediately buy $40/50K USD worth of bitcoin, store it on a hardware wallet, whole family flees South Korea and stay at friend's or relative's place overseas place somewhere in US or Australia or China until things calm down.

Anyone can open an e-Trade account and fund it from their bank.  They can later open an account in another country while they are waiting out any violence.  Putting 100% of their cash savings into a volatile speculative instrument like BTC is reckless and irresponsible....as much as the reckless and irresponsible sociopaths on this forum would love to see the average unsophisticated citizen of these nations take such a risk.

[uslfd]

This is probably too abstract for many to understand so let it sink in before you react.  If people are really scared of war, they are better off pulling cash out of their banks and putting it in a foreign investment account.

Not everyone is rich enough to have a foreign investment accont.
Think the average citizen who owns around $70K USD of cash, if a local war i.e. US to NK is 90% likely to break out, they would most likely immediately buy $40/50K USD worth of bitcoin, store it on a hardware wallet, whole family flees South Korea and stay at friend's or relative's place overseas place somewhere in US or Australia or China until things calm down.

Anyone can open an e-Trade account and fund it from their bank.  They can later open an account in another country while they are waiting out any violence.  Putting 100% of their cash savings into a volatile speculative instrument like BTC is reckless and irresponsible....as much as the reckless and irresponsible sociopaths on this forum would love to see the average unsophisticated citizen of these nations take such a risk.

Honestly that's not how I would do it if I were in that situation. Remember, if NK strikes out of the blue, they don't necessarily give you a warning for like 10 days for you to open your account and deal with your bank for 5 business days.

If I were them I would just go to BTC exchange, buy, load on hardware wallet, gone tomorrow. Opening a new account in another country usually is restricted to residence. If I'm there for a few months I won't be able to open an account overseas.
Of course everyone is entitled to their way of doing things.

Discussing how a war might push BTC price up does not mean we wish to see a war. It's just rational discussion and action reaction observation / learning / ideas exchanging.

Calling people reckless and irresponsible sociopaths is not necessary - of course again, in my opinion - you're entitled to have yours.
 

[Walrus1]

Do you think this is the main reason why bitcoin price skyrocketted now? Because of my busy life I haven't watch or read any news about the war. I wish only few people will get hurt if it will happen. For me, who doesn't have a good amount of btc, the increasing price is good but do you think it will continue to rise? If yes then those who hold btc will have a good christmas and new year.

IF killing millions of CHILDREN in North Korea with white-phosphorous bombs made in Israel, and dropped on NK makes BTC sky-rocket, then U know that the vast majority on this forum, will support TRUMP and his insane wars.

South Korea, Japan, Taiwan or all Post WW2 USA colony's, North Korea, is the only place that is NOT owned by CIA.

Will the USA kill 50 million north korean people to protect the petro-dollar? Yes

Remember if the war starts in Korea, it will also mean that KIM retaliates on ALL USA puppets country's in area, which means that all these country's backed by USA-IMF banks, that their currency becomes worthless, as the asian people will flock to CHINA/Russia alliance, and drop the US-DOLLAR

BItcoin is a conduit to escape USA colonys

so now North Korea which has been kicked down the road since the fifties is trumps fault, good grief. Bitcoin would be gone in the koreas after the communication and cyber attacks

[Sum24]

South Korea BTC is trading at $20K right now.
Do you think this is pure speculation or are they actually partially hedging against an event of an outbreak of North Korea, American war?
If US goes to war with North Korea tomorrow, I feel BTC could surge by 100% in one day - what do you think?

Yes I think you are right because bitcoin is associated with market trade and it’s a digital currency in case of any emergency there is no doubt that bitcoin price will be disturb in North Korea and also its price will be drop in South Korea as well so war is such a bad impact for any currency but the good thing is that its price will be good in other countries because bitcoin have no link with war it will change its direction to ward other countries but we can wish that there will no war between America and Korea.

[Walrus1]

Dude if war did break out with North Korea they would dump everything they have on SK, Japan and probably launch at us miss. When we strike them china and Russia will be pissed. It would be a very ugly conflict with cyberattacks and all kinds of crazy shit. Probably gold is what you would want to have. Anyway, we have been "about to have war" with NK as long as I can remember. We just always need an enemy to feed the military industrial complex. If you want to profit on war by gold, silver and defense/weapons maker stock but it's a terrible way to make money

[trynewline]

If a war starts soon, people will definitely prefer transferring their funds to bitcoin to further secure it, rather than give it to banks.