The Impact of Ukrain Bitcoin Donation and Support.

[Raymond Gary]

Bitcoin as we may know is yet to embrace mass adoption and it still under valued asset class, but before this Mass adoption could take place there are series of events that could happen to trigger the very adoption we have been looking for, And such events could be pestilence like that of corona virus , high inflation rate, wars and Economic sanctions that could cause some fiat currencies to lose their value due to Economic sanctions impose on some countries.
Example of these, is that of recent sanction imposed on Russia which have caused Russian ruble to decrease in value  and will push some of investors to start looking for alternative way to hedge their funds in some asset class such like Bitcoin and other digital asset.

The impact of Bitcoin Donation to Ukrain.

[1.] The donation and support of Ukrain using Bitcoin and ETH has a significant impact and have also increased mass adoption.

[2.] The increase in the demand for Bitcoin recently to support Ukraine brought about a slightly increase in the price of Bitcoin.

[3.] It has also created more aweness for Bitcoin adoption hence causing people whom might not have heard about Bitcoin or  transact in
 Bitcoin, buy Bitcoin in order to render support or donate money to help the people of Ukrain to survive.

[4.] These will also attract the attention of some countries Government Authorities to  find  way and make laws to regulate bitcoin in their various countries and hence make Bitcoin easily accessible for their citizenry.

[5.] With the recent sanction imposed on Russia, Some countries will began to see Bitcoin as a store of value and alternative means for transaction to avert possible sanctions that could be impose on them and hence use Bitcoin for international transaction or even adopt Bitcoin as a legal tender like El Salvador.
        
In conclusion , though the Ukrain invasion has a negative impact on the people of Ukrain and it's residents, it also in other hands has a significant impact to the Mass adoption and aweness of Bitcoin.

[1715490665]

1715490665

[mk4]

Not sure that I would call it adoption but it surely gave Bitcoin A LOT of publicity in terms of being a currency/asset that requires zero permission. It's just unfortunate that a lot of people had to realize it only when in times like this — like they had to literally see it with their own eyes instead of just realizing it through studying it.

[seoincorporation]

The question here is, what do we call support? It could be food, water, transportation to a safe zone, and weapons to defend their country.

It would be nice to know where are all those donations going because I feel a big piece of cake is used for fighting equipment, and since bitcoin and cryptos are involved in this we can call it the first Crypto-War.

[mk4]

The question here is, what do we call support? It could be food, water, transportation to a safe zone, and weapons to defend their country.

Depends who you exactly donate to. If we're talking about the donations towards the Ukrainian government directly, then idk. If you want specific sectors like food and medicine, then you can donate to specific charity groups like UkraineDAO. https://twitter.com/Ukraine_DAO/status/1497629935632105475

and since bitcoin and cryptos are involved in this we can call it the first Crypto-War.

Probably too much Netflix dude.

[bitmover]

Not sure that I would call it adoption but it surely gave Bitcoin A LOT of publicity in terms of being a currency/asset that requires zero permission. It's just unfortunate that a lot of people had to realize it only when in times like this — like they had to literally see it with their own eyes instead of just realizing it through studying it.

Why not call it adoption? I would call that government adoption. There is literally a government (Ukraine) using bitcoin/ETH/USDT as a currency. This is their official twitter account:


https://twitter.com/Ukraine

Anyone can donate to Ukraine to support their government. How the hell would someone in Brazil, China, Japan, El Salvador, etc would do that if not for cryptocurrency?
The transaction using bitcoin is nearly free and you can get a confirmation within minutes.

That would be impossible without cryptocurrencies. Traditional banking system is allow, expensive and bureaucratic. I am certainly i wouldn't be able to donate to ukraine using my traditional bank in Brazil.

We can now support directly a cause that we are interested in supporting. Bitcoin was designed to be used as currency, just like that.

They received already 34 million dollars in cryptocurrency donations
https://apnews.com/article/russia-ukraine-war-live-updates-6bcdf50c08dd62a4c5305aa34d045cce

[mk4]

Why not call it adoption? I would call that government adoption. There is literally a government (Ukraine) using bitcoin/ETH/USDT as a currency. This is their official twitter account:

*snip*

Well I mean yeah sure it's technically adoption don't get me wrong, and by a significantly huge entity. When I said "Not sure that I would call it adoption.." I meant numbers-wise(volume of entities/individuals), that I'm not sure if the masses actually went "oh shit bitcoin is actually the solution for xyz" and ended up buying bitcoin for the long-term.

But I guess we could say that at the very least some people bought bitcoin/crypto just to be able to donate. How much funds came from native crypto peeps vs the sort of "new crypto peeps" is the question.

[DapanasFruit]

 

Sadly, it will be a series of crisis that humanity is to experience that can put Bitcoin into the mainstream as a currency and a safe haven. Under any circumstances, Bitcoin is beyond the reach of any government or legacy financial institution. No government can declare Bitcoin to be under the control of the government...they could not devalue it by decree or can they confiscate away from you just like what some governments did to bank accounts of their own people. And we can clearly see the many reasons why Bitcoin is a lot better than fiat during chaotic times.

[worle1bm]

This has for sure boosted the crypto transactions and btc demand has suddenly grown as this war crisis has struck the Ukraine.You can also see that Ukraine government has received more than $15 million in donations through these crypto raising platforms as all other fiat transactions are blocked.The impact could be seen from bitcoin prices also which went above $43k at the time where it was showing no good progress.So the support has now increased and future btc regulations and adoption maybe true now.

[Retainly_Collie]

This has for sure boosted the crypto transactions and btc demand has suddenly grown as this war crisis has struck the Ukraine.You can also see that Ukraine government has received more than $15 million in donations through these crypto raising platforms as all other fiat transactions are blocked.The impact could be seen from bitcoin prices also which went above $43k at the time where it was showing no good progress.So the support has now increased and future btc regulations and adoption maybe true now.

IMO, it is still too early to talk about widespread adoption. The reality of wars is that intermediary payment methods will not be preferred, and btc crypto has a good effect for money-backing donations. I have seen a lot of crypto-support and donations in Ukraine. Just like the corona outbreak in India in 2021, crypto donations have brought the effects we see.

[Wind_FURY]

Not sure that I would call it adoption but it surely gave Bitcoin A LOT of publicity in terms of being a currency/asset that requires zero permission. It's just unfortunate that a lot of people had to realize it only when in times like this — like they had to literally see it with their own eyes instead of just realizing it through studying it.

I have some of my close friends who said that they now currently "get it", and they are having some respect for what it is designed to do. It makes me happy because the network is not merely for criminals.

Sadly, it will be a series of crisis that humanity is to experience that can put Bitcoin into the mainstream as a currency and a safe haven. Under any circumstances, Bitcoin is beyond the reach of any government or legacy financial institution. No government can declare Bitcoin to be under the control of the government...they could not devalue it by decree or can they confiscate away from you just like what some governments did to bank accounts of their own people. And we can clearly see the many reasons why Bitcoin is a lot better than fiat during chaotic times.

Sadly, there are shitcoin founders who are using the war to advertise their shitcoins by offering them as donations.

[mk4]

I have some of my close friends who said that they now currently "get it", and they are having some respect for what it is designed to do. It makes me happy because the network is not merely for criminals.

Bitcoin has always been mostly used by non-criminals. You know, like any other money/currency!

[kinvan f]

Indeed, this time Bitcoin has really gained a lot of exposure in the war. The war is all because of finance, and the financial disputes are because of belief.

[Wind_FURY]

I have some of my close friends who said that they now currently "get it", and they are having some respect for what it is designed to do. It makes me happy because the network is not merely for criminals.

Bitcoin has always been mostly used by non-criminals. You know, like any other money/currency!

I might haveforgotten to put the quotes "", ser. "Bitcoin is only used by criminals" has always been the nocoiner's favorite narrative to use to FUD Bitcoin to newbies/non-coiners. I always reply, it's freedom money. A "money" that can't be used by criminals, because of government control, is not an effective form of hard money.

[KINVAN e]

The question here is, what do we call support? It could be food, water, transportation to a safe zone, and weapons to defend their country.

It would be nice to know where are all those donations going because I feel a big piece of cake is used for fighting equipment, and since bitcoin and cryptos are involved in this we can call it the first Crypto-War.

If it is donated to the Ukrainian government, there are many possibilities. It may buy food for civilians or arms, and it may become the private property of some people. Since it has been donated, we have no ability to interfere with the whereabouts of the funds. . But if they use the money to buy arms, I'm sad because I'm calling for peace, which means that my donation is another way of supporting war, and obviously I don't want war.

[KINVAN e]

Sadly, it will be a series of crisis that humanity is to experience that can put Bitcoin into the mainstream as a currency and a safe haven. Under any circumstances, Bitcoin is beyond the reach of any government or legacy financial institution. No government can declare Bitcoin to be under the control of the government...they could not devalue it by decree or can they confiscate away from you just like what some governments did to bank accounts of their own people. And we can clearly see the many reasons why Bitcoin is a lot better than fiat during chaotic times.

Yes, I just saw that Germany confiscated the yacht of a rich Russian businessman worth 600 million US dollars. I was shocked. Is Russia being robbed? If the asset is not the yacht but Bitcoin, will the result be different?

[ZoeSamantha]

Bitcoin as we may know is yet to embrace mass adoption and it still under valued asset class, but before this Mass adoption could take place there are series of events that could happen to trigger the very adoption we have been looking for, And such events could be pestilence like that of corona virus , high inflation rate, wars and Economic sanctions that could cause some fiat currencies to lose their value due to Economic sanctions impose on some countries.
Example of these, is that of recent sanction imposed on Russia which have caused Russian ruble to decrease in value  and will push some of investors to start looking for alternative way to hedge their funds in some asset class such like Bitcoin and other digital asset.

The impact of Bitcoin Donation to Ukrain.

[1.] The donation and support of Ukrain using Bitcoin and ETH has a significant impact and have also increased mass adoption.

[2.] The increase in the demand for Bitcoin recently to support Ukraine brought about a slightly increase in the price of Bitcoin.

[3.] It has also created more aweness for Bitcoin adoption hence causing people whom might not have heard about Bitcoin or  transact in
 Bitcoin, buy Bitcoin in order to render support or donate money to help the people of Ukrain to survive.

[4.] These will also attract the attention of some countries Government Authorities to  find  way and make laws to regulate bitcoin in their various countries and hence make Bitcoin easily accessible for their citizenry.

[5.] With the recent sanction imposed on Russia, Some countries will began to see Bitcoin as a store of value and alternative means for transaction to avert possible sanctions that could be impose on them and hence use Bitcoin for international transaction or even adopt Bitcoin as a legal tender like El Salvador.
        
In conclusion , though the Ukrain invasion has a negative impact on the people of Ukrain and it's residents, it also in other hands has a significant impact to the Mass adoption and aweness of Bitcoin.

Cryptocurrency donations to Ukraine have indeed brought publicity to virtual currency, but I still have deep sympathy for this war, although a lot of it is humanitarian, but where the money will be spent, probably only the Vice President knows.

[Anonylz]

Certainly, if not for this war the government of Ukraine will not be too quick on accepting btc for any sort of transaction especially the one that has to do with the government purse. so i would call it adoption, they could have refuse donation through btc and use other fiat alternatives despite they are facing attacks but they didn't, the war to me is a blessing in disguise for btc to gain global recognition, and of course a painful experience for the people of Ukraine.

[evilgreed]

               I agree with op. With all the things going on with the world today and not just on Ukraine, more and more people are starting to hear about bitcoin and other altcoins all over the world. Not just once in a blue moon mentions but almost everywhere. What's more is that the people do not hear hear it from fuds like hacks happening or people doing illegal things with it. Instead, they hear about crypto currencies being used to help people which makes them want to learn more, and by doing so, they understand what this industry is and how innovative the solutions it can offer are. This kind of publicity is very vital. Too bad though, it required a very high cost.

[virasog]

Not sure that I would call it adoption but it surely gave Bitcoin A LOT of publicity in terms of being a currency/asset that requires zero permission. It's just unfortunate that a lot of people had to realize it only when in times like this — like they had to literally see it with their own eyes instead of just realizing it through studying it.

Also people have come to know that in these crisis times, only bitcoin is the true store of value. All the centralized fiat currencies controlled by the banks and local governments will lose their value in war situations. This is an eye opener for those who do not consider bitcoin to the real money and do not realize the true potential of bitcoins.

[Fesatmas]

Imho, so far, it has been said that adoption is legal, because of what definitions I'm trying to find on the internet to clearly understand the meaning of adoption. And what the Ukrainian government is doing is legal to increase the adoption of cryptocurrencies. Although in the end it was converted to fiat to buy supplies for its citizens. Regardless of what the proceeds from the donation will be used for, hopefully, it won't be bought to arm its citizens with long-barreled rifles. One life would be very valuable, to wield a weapon that one was not an expert in wielding.

Back on adoption, that the Ukrainian government allows crypto, especially in this case Bitcoin is widely accepted for donation, the definition of legal adoption is literally.