The Impact of Ukrain Bitcoin Donation and Support.

[Smartvirus]

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.

My thoughts exactly. You know, prior to this war, I was surprised to have heard the news on Russia and Ukraine looking into legalising bitcoin or cryptocurrencies in there nations. I felt it was for good and though it might be for good, the thoughts as I have it on why doesn't seem so good to me. Perhaps the aids they might have received from which ever donation that might have have carried out could in course of these wars might have been used to provide relief materials amidst making other plans, I also have an impression that, some of it also would have been used to finance the war. Especially from the Russian side.

With a lot of sanctions been dealer out to friends of Putin and Russian billionaires across the globe, bitcoin served as some anonymous way to receive aids from these individuals and hide in the shadows. If my thoughts are right then, it doesn't feel so right, not from where I stand.

[Raymond Gary]

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.

It is crystal clear that this is adoption, I don't think that a Government like Ukraine, that if they doesn't want to adopt Bitcoin will go ahead and make it official for the public to use Bitcoin ias means of donation and support to them , so they must have analysed this before they came up with such ideology.
  Secondly remember that some rumors have been around Ukraine trying to regulate or officially adopt Bitcoin and this has served as better opportunity for that.

[AAPPKK]

This is a profound opportunity to let the people of Russia and Ukraine know about Bitcoin, the war is cruel, it is a good thing for them that Bitcoin appears at this time as a free and inviolable asset, because the war will always stop, It is chilling to rebuild the home after stopping, and the wealth that has been fought for a lifetime has been turned into ruins because of the war.

[uchegod-21]

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.

It should confidently be called an adoption. A government cannot officially release an address for donation for what they did not adopt. The adoption must not necessarily follow due process. Perilous times necessitates innovation. So, no matter the process of adoption, it is an adoption. A government that has received help from cryptocurrency can never, I repeat, can never have the guts to punish her citizens for involving in crypto.

[Deliverance21]

Guys, I'm from Ukraine. Now evacuated from Kyiv to west of Ukraine. There is local territorial defence, but they are extremely poor. If you have a wish, send me some BTC, I will transfer it to local bank and give money for first aid kits, food, warm clothes.

[Juse14]

Yes, although we didn't expect this invasion because it could have an impact on humanity, we also can't deny that this also has a positive impact on bitcoin. Although this can be said in an emergency when they accept bitcoin as a means of donating to humanity in Ukraine.
And we can learn here that humanizing humans is more important than anything.

[pawanjain]

This war has definitely create an impact on many people. Bitcoin has come to the rescue and has helped many people in buying their food during the crisis.
This war has made many people realize the importance of bitcoin. I am sure that the adoption of bitcoin will only keep increasing every year now onwards.
It might face obstacles from various governments but from time to time events like these will keep happening and make people more prone towards using bitcoin.
It might not become a payment gateway for day to day activities but it will surely stand as a safe haven and a valuable asset.

[redsun114]

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.

It should confidently be called an adoption. A government cannot officially release an address for donation for what they did not adopt. The adoption must not necessarily follow due process. Perilous times necessitates innovation. So, no matter the process of adoption, it is an adoption. A government that has received help from cryptocurrency can never, I repeat, can never have the guts to punish her citizens for involving in crypto.

I am not sure about what is the exact status of bitcoin in Ukraine whether it is it legal or not. If it is not legal yet, I think they can still make a temporary exemption to bitcoin only to receive donations because they badly need it and the majority is requesting for it to be used as a medium because banks, fiats or other forms of payment methods are not yet available or complicated for now to use but if ever btc in Ukraine legal before, then we cant consider the recent event as an adoption but it is more of a publication.

Everyone will be aware of btc but there is no guarantee that they will now use it or adopt it. Those who donate are already been a btc user ever since before.

[kryptqnick]

Full Bitcoin adoption as money requires working civilian infrastructure and a peaceful enough time to develop relevant software and, possibly, adopt some hardware. Neither Russia nor Ukraine have conditions that can enable this change right now. However, donations are accepted and, I believe, they can then be sold for fiat to actually buy military equipment, medicine, food and other things in Ukraine. But overall, while this is good for Bitcoin because the events increase the demand for it, Bitcoin still remains more of an asset than a functioning currency under these conditions. So it's not about mass adoption of Bitcoin, and people sitting in shelters don't have time for Bitcoin awareness.

[Crypto-Ivan]

The increased demand for Bitcoin facilitates crypto transactions, and more people realize the importance of Bitcoin.
The use of bitcoin donations has also had a positive effect on bitcoin itself, driving its price up.

[lepbagong]

It always has to be seen from two sides if there is any conflict because if it is only from one side, it will make us misperception and will continue to make the problem worse on social media, not on the real thing.
I personally don't want a prolonged conflict and can return to normal and be able to sit together and negotiate and leave each other's ego so that it can be finished. all those who don't understand the problem to refrain from social media by not making things worse.

It's really sad that during a conflict, bitcoin became a conversation that could certainly be better known, because it was to provide support and donation assistance. but indeed, if possible, donations must go through an institution that has been recognized so as not to be misused, which can escalate the conflict into a big one.

Bitcoin is of course always an alternative in every problem, because it is the easiest to give and collect. thus pushing bitcoin increasingly recognized and recognized as an easy-to-use transaction tool. but I agree with the op that this will actually make every country will protect themselves from this by making rules about bitcoin, so that there is no misuse that will actually be detrimental.

[Pmalek]

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.

So you are saying that Bitcoin has not lost value or gained any value during this conflict? Bitcoin went up to $43-44k, people donated some money, the currency's value than dropped to $37-38k. If the value of the received donations was $10 million at $43 k/coin, for example, is the buying power of that Bitcoin the same now at $38k?

Short-term, Bitcoin hasn't proven to be stable. And short-term is the only way Ukraine and it's government can think right now. They are at war right now and they need financial support today. They can't hold and speculate what the value of the donated assets could be during the next bull run. But Bitcoin has still provided both Ukraine and Russia with new opportunities to finance their operations and that's something they don't have through traditional routes.

I don't think we can call this adoption yet. It can turn into full-scale adoption only if the citizens of both countries realize the benefits of using Bitcoin and they start buying and using it.

[Slow death]

now the value of the donation has increased to 37 million dollars, Can someone tell me if they are making a donation in fiat and what value is it already? I know it's not an ideal time to make this kind of comparison, but I must say that most people look at bitcoin as a 10X investment, that's why they will hardly use bitcoin to make purchases or donations, they prefer to use fiat for that, and the The question is: when will we see bitcoin used as a payment method by the majority of people who own bitcoin? rich guys who pride themselves on having hundreds of bitcoins, I don't see them showing up to donate any bitcoins, they're probably donated in Fiat

[Oasisman]

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.

It should confidently be called an adoption. A government cannot officially release an address for donation for what they did not adopt. The adoption must not necessarily follow due process. Perilous times necessitates innovation. So, no matter the process of adoption, it is an adoption. A government that has received help from cryptocurrency can never, I repeat, can never have the guts to punish her citizens for involving in crypto.

I am not sure about what is the exact status of bitcoin in Ukraine whether it is it legal or not. If it is not legal yet, I think they can still make a temporary exemption to bitcoin only to receive donations because they badly need it and the majority is requesting for it to be used as a medium because banks, fiats or other forms of payment methods are not yet available or complicated for now to use but if ever btc in Ukraine legal before, then we cant consider the recent event as an adoption but it is more of a publication.

Well, the status of cryptocurrency in Ukraine is legal, but the government didn't recognize it as a legal tender like most country does. So, they don't need any "temporary exemptions" just to receive crypto as a donation, because they are already receiving millions of dollars in cryptocurrency form.
Now, this could be a turning point for cryptocurrency in Ukraine to be considered as a legal tender, or even a mass adoption of Bitcoin.

[DdmrDdmr]

<…>

I haven’t seen data on how fiat donations are coming, but the 37M$ crypto figure seems to now fall shy. The latest update I’ve seen drives it to 59,2M $ in crypto just for the recipient accounts established by the Ukrainian government and the Come Back Alive NGO, obtained from over 112K donations so far (I’m accounted for there).

There is a substantial decrease in the daily donation figures over the past three days, likely due to the call-to-action effect of the first few days plus crypto heavyweight entities and personalities being prompt to respond. Even so, the last few days make it above the 1M $ in crypto per day, something to follow as time goes by.

The following chart is also worth a look at:

See: https://www.elliptic.co/blog/live-updates-millions-in-crypto-crowdfunded-for-the-ukrainian-military

[KaliLinux]

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 definitely agree with you. I understand most people believe that because of the Ukrain Bitcoin and other cryptocurrency donations, there has been mass adoption to cryptocurrency and Bitcoin especially, what happens if most of the donations were from people that are already in the crypto space? which is possible. And as you said, creating awareness for Bitcoin/cryptos is a big one, and true that people would have seen how Bitcoin can easily move across borders without restrictions, and most also say that, regardless of how they know, let them know 

[kotajikikox]

This is a profound opportunity to let the people of Russia and Ukraine know about Bitcoin, the war is cruel, it is a good thing for them that Bitcoin appears at this time as a free and inviolable asset, because the war will always stop, It is chilling to rebuild the home after stopping, and the wealth that has been fought for a lifetime has been turned into ruins because of the war.

the wat is indeed will end and not like in the past wars that the resources can be Loot easily as the gold/silvers and even Currencies can be taken by force but now since there is Bitcoin? and other crypto currencies? people from those countries can easily hide their funds and safer using crypto .
maybe more of them are considering putting their funds inside our market than remaining in banks or in their houses.

[Ozero]

Guys, I'm from Ukraine. Now evacuated from Kyiv to west of Ukraine. There is local territorial defence, but they are extremely poor. If you have a wish, send me some BTC, I will transfer it to local bank and give money for first aid kits, food, warm clothes.

Don't trust this newbie on this forum. I am also from Ukraine. Our territorial defense is more or less equipped with clothing, body armor, and weapons. They even have machine guns, grenade launchers and so on.
If there are not enough weapons, then volunteers are not taken. Write down the phone number for communication and say to expect a call. This was said a couple of days ago to my friend, who wanted to enroll in the territorial defense of the city of Zhytomyr.
Now there are enough official sites in Ukraine that collect donations. If a man ran away from the war from Kyiv to the western part of Ukraine, I would not trust him. Especially for a beginner with 2 activities.

[romero121]

With the acceptance of bitcoin, ethereum and USDT as donations, Ukraine have made its step forward supporting adoption of cryptocurrencies. If this war hasn't happened many could've never understood the real value of bitcoin. Now every country will show interest in holding atleast a small volume of bitcoin, because we don't know what will be the situation of the country tomorrow. When it is required only the cryptocurrency can give hand and not the banking system.

Even if millions and billions were received as donations in fiat, the people never knew how donations were used. With cryptocurrency everything is transparent and this gains the trust and let's people know what is happening.

[perfect999]

now the value of the donation has increased to 37 million dollars, Can someone tell me if they are making a donation in fiat and what value is it already? I know it's not an ideal time to make this kind of comparison, but I must say that most people look at bitcoin as a 10X investment, that's why they will hardly use bitcoin to make purchases or donations, they prefer to use fiat for that, and the The question is: when will we see bitcoin used as a payment method by the majority of people who own bitcoin? rich guys who pride themselves on having hundreds of bitcoins, I don't see them showing up to donate any bitcoins, they're probably donated in Fiat

Bitcoin is truly a valuable item to give away so you could be right that some if not most are purely using fiat for donation and for the people that are not involved in btc till now, they are also using fiat. If you have a small number of btc, the more that it will look valuable but if it's the opposite, I think you wouldn't mind giving some of them to the people that truly need it.

Wealthy bitcoin investors, do have a lot of cash in their pocket aside from the bitcoins they have so they can use this too if they find it more convenient. Apart from cryptos, there are also digital payment methods that are fiat-based like paypal and I think they also have a campaign for this. We can expect that fiat donations are higher but if cryptos grow in value they can be at the same level or more than it.