Crypto is a part of war now, like it or not

[FMCPAY_GLOBAL]

There are crypto proponents who have rallied in support of Ukraine and tried to find a role for crypto. Thanks to that, Russia’s invasion of Ukraine can be called “the world’s first crypto war.”

The cryptocurrency exchange FTX, for instance, has given the equivalent of $25 to every Ukrainian user on its platform to use as they please, according to its CEO Sam Bankman-Fried. One of the co-founders of the Russian protest band Pussy Riot, ​​Nadya Tolokonnikova, has organized a fundraising effort to sell 10,000 NFTs of the Ukrainian flag. Vitalik Buterin, the Russian-born founder of Ethereum, has encouraged people to donate to humanitarian efforts in the country with crypto.

Of course, some of crypto boosters’ efforts to inject the digital assets into a war effort have been a little cringeworthy. It doesn’t really help for a bored ape NFT person to express solidarity with Ukraine. Given the scamminess of parts of the space, it’s also hard to know which projects are actually going to help people in Ukraine and which ones are just money grabs by opportunists.

Until now, we do not know whether it’s good or bad in wartime, crypto is doing what its proponents say it does - giving people a way to work outside of traditional financial institutions - and there’s no sign that will change anytime soon.

(Via vox.com)

[mk4]

Bitcoin and cryptocurrencies is also under the money/finance niche — so obviously it would have a part of the war to a certain extent, just as how other assets and commodities technically play a part as well. But calling it “the world’s first crypto war" is just some clickbait over-exaggeration BS.

[KennyR]

Crypto War doesn't suits, because Crypto is having its role and this is getting done without flaws. Through this war the real purpose for which Satoshi innovated the technology have got fulfilled. Individuals and organisations that are always thinking about the negative part of cryptocurrencies have known about its positive side.

After various sanctions on Russia, it is possible to make use of cryptocurrency just because of the decentralised system. Now countries are urging bitcoin exchanges to block cryptocurrency usage by Russians.

[bluebit25]

Political ambitions and profit intentions were gradually shaped more clearly in the context of the escalating tensions of the Russian-Ukrainian conflict. More than ever, that is what makes the conflict so confusing and unpredictable.

''Currency Wars'' is a book that I find quite a few lessons applicable to the current economic climate. Either way, economic truth is a big battle and it has impacted every other area of ​​life, bitcoin/crypto can represent an asset or solution to ongoing issues with economic finance.

[Argoo]

Cryptocurrency is not the object of attack in this war, the subject of contention between the warring states. Therefore, the war between Russia and Ukraine cannot be considered a crypto war. Cryptocurrency for the first time can play a role in this war and no more. Russia, attacking Ukraine, does not impose any conditions on Ukraine regarding the use of cryptocurrency. This is the usual war of conquest on the territory of Ukraine by Russia.

[moneystery]

crypto is part of the war? This sentence is really wrong,, crypto has become a part of humanity now. those who made donations to ukraine instead of supporting ukraine to fight against russia, they all sincerely feel sorry for the plight of ukraine people.
Be it in the future, crypto has never been a part of war, but has become a part of humanity. I hope countries that have injustice, such as Yemen or Palestine, can recognize bitcoin so that they get full support from the crypto world, as happened in Ukraine....

[Inspiron14]

Cryptocurrency is not the object of attack in this war, the subject of contention between the warring states. Therefore, the war between Russia and Ukraine cannot be considered a crypto war. Cryptocurrency for the first time can play a role in this war and no more. Russia, attacking Ukraine, does not impose any conditions on Ukraine regarding the use of cryptocurrency. This is the usual war of conquest on the territory of Ukraine by Russia.

Yes this war between Russia and Ukraine is not about cryptocurrencies so don't misunderstand this war,
indeed in this war crypto can play a role as you say but what must be understood is that it does not mean this war focuses on crypto,
although this war is about politics and territory but it can affect various sectors

[Poker Player]

There are crypto proponents who have rallied in support of Ukraine and tried to find a role for crypto. Thanks to that, Russia’s invasion of Ukraine can be called “the world’s first crypto war.”
...
 crypto is doing what its proponents say it does...

Nonsense. There is a war in which crypto is used as a tool, like weapons, for example.

I'm telling you the same thing I've said in two other posts. You talk about crypto as personalizing, when in itself it is neither good nor bad. That an exchange gives money to certain users does not make "crypto" doing a good or bad thing. Cryptocurrencies are a tool. There are those that are very good, like Bitcoin and those that are crap, practically all the others, I would say. But those tools can be used just as well to demand ransom for a kidnapping as they can to make donations for people in need.

[Kakmakr]

Well, one thing that Crypto currency (Bitcoin) has proven during this war is this.... it is Apolitical.

The technology does not take any side of this conflict, like SWIFT is doing to take the side of the Ukrainians. (Also VISA/Mastercards and Banks... blocking their services)

Bitcoin are currently used by both sides of this conflict, with Ukrainians using it to protect their wealth and Western countries making donations to the Ukraine. (Doing it Pseudo anonymously to protect themselves)

The Russians on the other hand are using it to bypass sanctions (international transfers) and also normal citizens within Russia to receive payment for their online activities.

Being Apolitical makes it the perfect payment option for any citizen of this world, no matter what side you choose. No matter what your opinion and views are ... Bitcoin is neutral.  

[Wexnident]

Assuming the movement of organizations or any related group that transact with crypto as a representative of crypto itself is... kinda dumb? I mean yes, it's open for all, but that's the point, Bitcoin doesn't take any side, it's always available for use whatever you're situation you are in. Those people are simply investors of crypto, they're not really a spokesperson for it, nor is it going to ever have one imo.

Until now, we do not know whether it’s good or bad in wartime, crypto is doing what its proponents say it does - giving people a way to work outside of traditional financial institutions - and there’s no sign that will change anytime soon.

It's probably on the good side tbh? I mean it gives more people options, and more options are always the better thing imo. It won't change ofc, it was what it was made for, if it changed well, it wouldn't be Crypto (or Bitcoin rather).

[TheNineClub]

'the world’s first crypto war' is an exaggeration if I ever saw one. If you really want to call it something in that vein, let's call it what it is, it's Europe's first gas and oil war. Crypto is a part of the war as well as everything else is that's globally intertwined with the economy. And even with that it really has an objectively small impact on it. Yes, it helps people in need and I think that's great, but looking at the bigger picture of this conflict, it's really not that important. Even the role crypto would play in Russia's efforts to alleviate sanctions has been more or less debunked by experts meaning it wouldn't play a huge role. And as for crypto being a part of A conflict, well, I am sure this is not the first time it has been used in such scenarios (albeit to a smaller extent).

[avikz]

Lol! No! Crypto has literally nothing to do with the Russia - Ukraine conflict. Just like any other good community, the crypto community is doing their part to help affectes people. That's it!

World's first crypto war - is completely unrelated and makes no sense at all! It's a war to maintain Russia's sovereignty against the NATO and US aggression. Ukraine has now announced that they will not join NATO. Hopefully the war situation will now normalize.

[sunsilk]

Binance has been neutral and also donated a help of around $10M.

Crypto is money and in this war, anything that's related to money will be used to their advantage and disadvantage. The disadvantage is all about the banking system and cutting ties of the swift to Russia.

As for cryptocurrencies, being part of it, people are looking into how useful it is especially for the people living on both countries.

[davis196]

There was a war in the middle east(Syria and Iraq) a few years ago,when ISIS was a thing.I think that crypto was used by some people in the middle east,but on a smaller scale.Does this make the war in the middle east "the first crypto war"?I don't think so.Cryptocurrencies are just a tool and some people will use that tool,if they find benefits.
Calling the war in Ukraine "the first crypto war" is simply pretentious.The war isn't about crypto. Cryptocurrencies might be used by both Russians and Ukrainians,but crypto adoption on both Russia and Ukraine remains questionable.

[dbc23]

Crypto is only a channel of donation in the war not the main point of attack after all both countries has passed bills to make bitcoin a legal tender. Ukrainians who happen to be victims of the war are getting donations through crypto donations across exchanges and concerned groups which has just little to do with the war 

[noorman0]

Although the OP would change the topic to "The first war in the crypto era" it is wrong. The Russo-Ukrainian conflict is not the first war. There is a conflict in Afghanistan that actually lasted from the time before bitcoin was introduced until 2021, and at least there is a role for bitcoin there as the population's choice to "shelter" from the effects of the economic crisis.

[arwin100]

War has different scope so you just point it as part of war because this was been used for donation campaign conduct by ukraine and other legal institutions. But if we are been realistic here we cannot really say that this is part of war because there's no sanctions nor anything has been impose on it and maybe people are just exaggerated with the dump happened that's why many got triggered and think the same as you. For what I look at it crypto still neutral and remain uncontrolled by anyone.

[Rockstarguy]

crypto is part of the war? This sentence is really wrong,, crypto has become a part of humanity now. those who made donations to ukraine instead of supporting ukraine to fight against russia, they all sincerely feel sorry for the plight of ukraine people.
Be it in the future, crypto has never been a part of war, but has become a part of humanity. I hope countries that have injustice, such as Yemen or Palestine, can recognize bitcoin so that they get full support from the crypto world, as happened in Ukraine....

Op used a wrong sentence for this writeup. What he maybe reasoning is that the Russia-Ukraine war can affect cryptocurrency some how because before the Russia-Ukraine war began the both countries accepted cryptocurrency legally. That is where he maybe riding to,  my own thought though.

[ChiBitCTy]

I wasn’t aware of the crypto exchange donating to Ukrainians which I think is awesome of course and I love seeing that Vitalik is also helping out despite being Russian. I think this “first crypto war” has mostly overall been a good thing to that has shown how valuable and useful it can be compared to traditional monies.

[Despairo]

The news explained crypto was used for donation both of countries, this mean crypto as a currency helping Russian and Ukraine citizens not crypto is using for war, that's really different. We had saw many crypto war happen on few years ago and still continued until now, when shitcoins comes up everyday is a war on crypto. Those shitcoins including yours e.g. paynet coin shouldn't being listed and only scamming many newbies, let alone Bitcoin as the real crypto.