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

[teosanru]

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)

This definitely isn't a crypto war, you might say that crypto space is using its asset to support the war, but more or less the support has just been on one side, I think crypto is something that can never spark a war amongst countries, in fact, cryptos can be the reason why countries can get united in order to save their fiat. Talking about scammers they are going to exist in every world and every scenario, they are never going to go away. But here I feel really bad for the common folks, on both the sides, I am sure even the Russians don't want the war, but have to suffer unnecessary sanctions and burdens.

[ReiMomo]

The presence of cryptocurrencies during war is of course a good thing, when many other countries find it difficult to send money then with cryptocurrencies everything becomes easier, of course the anonymous factor becomes very important because it keeps the sender's privacy awake.

The war has been there between govts and bitcoin since Bitcoin started booming. Even the fight has been there from share market as people from share market were moving to crypto and investing more in it. Plus, especially the banks. Banks were very much worried about their growth fall since crypto came into the market. We can see more number of investors getting into crypto and investing more into it.

[verita1]

I could say that Bitcoin is being used to help a country suffering from the horrors of war. When every minute counts for how valuable it is to make a decision where saving lives and resisting is a priority.
Bitcoin has provided its contribution by being a means of helping to raise funds, Ukrainian civilians need help to live in their country while the attacks cease. As the war progresses, better resistance strategies are observed, there are constant conversations with world leaders in order to reach peace.

[LUCKMCFLY]

The way that BTC can contribute to the almost worldwide conflict is that it is obvious that the money has to be managed in some way, after the sanctions against Russia it is evident that they need to get out of it at all costs, so I am sure that many Russians are using the BTC to send and receive money, is the only way they have to bypass the prohibitions, prohibitions and sanctions that only affect the people of Russia and not the government, this is what causes annoyance, they never touch the big ones, always people who have nothing to do with it and suffer all the consequences, most of whom are innocent, suffer the consequences.

[Uang_kartal]

I've read the news, it's a fairly large flow for Russia as a form of funding for aggression, especially cryptocurrencies, I think it's not good enough to be called the aggression that occurred and the effects of several exchanges that were reported on, I agree with other friends, this is too disturbing. people are curious about the news that got out, and they cover it only because of the commercial factor of all the curious interest. the anonymity should have nothing to do with this physical act,
either an individual or a group of users he is just a connoisseur of bitcoin and has nothing to do with it. crypto or any currency is the value of the medium of exchange in terms of winning or losing in a bubble/price volatility on any exchange. I admit there are some great people in crypto who were born from russia or even live there they know what they are going through and the attitude they can take

[Gyfts]

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.

Of course the war doesn't have anything directly to do with crypto. The point is that crypto fills the void when a government is unable sustain the currency. Russia is crippled by sanctions and their government doesn't have control over their economy anymore. What happens when the currency becomes worthless? People switch to crypto. Also the overuse of sanctions by the U.S. government incentivizes countries to do commerce with crypto instead of USD. If the U.S. government can freeze assets on a whim, doesn't make for good business if you have billions of dollars in USD reserves.

[cabron]

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.

Of course the war doesn't have anything directly to do with crypto. The point is that crypto fills the void when a government is unable sustain the currency. Russia is crippled by sanctions and their government doesn't have control over their economy anymore. What happens when the currency becomes worthless? People switch to crypto. Also the overuse of sanctions by the U.S. government incentivizes countries to do commerce with crypto instead of USD. If the U.S. government can freeze assets on a whim, doesn't make for good business if you have billions of dollars in USD reserves.

Russia's economy is working with countries like Saudi, India, and China using YUAN. Economists already saying the end of USD is coming. It's not true what they are saying on TV, Russia is winning and might even take the Ukraine economy with them while the rest of the world goes cold and hungry. Biden won't be asking China to not trade with Russia if Russia's economy is dwindling. Countries continue to trade with Russia and are not afraid of Biden's sanctions because that's what they can only do.

Now that there is crypto, countries that are oppressed by the US government are not afraid anymore like the Latin countries. Crypto becomes a tool.

[The Sceptical Chymist]

But calling it “the world’s first crypto war" is just some clickbait over-exaggeration BS.

It speaks volumes that the first reply to OP's post was that statement--and that's precisely what I was thinking, in addition to all of OP's claims and all those crypto things being done in the name of Ukraine being opportunistic at best.  I find the hard sell for using crypto in the face of extreme suffering to be in very poor taste.

I don't know if "crypto is part of war now" or not--or even if it's an important point if true--but I do see the value of having a form of money that's outside the control of any government or bank.  And I'd say the more private the better.

[cheezcarls]

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.

Unfortunately some exchanges like Binance and Coinbase are refusing to block ordinary and innocent Russians from using their platform (but it may be updated from time to time if the West would decide for exchanges to have consequences if not complying to their requests or so).

If they transact from one non-custodial wallet to the other, and if any store or business in Russia is accepting crypto instead of Rubles, there’s no way that they can be blocked for doing so.

[AmoreJaz]

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.

Unfortunately some exchanges like Binance and Coinbase are refusing to block ordinary and innocent Russians from using their platform (but it may be updated from time to time if the West would decide for exchanges to have consequences if not complying to their requests or so).

If they transact from one non-custodial wallet to the other, and if any store or business in Russia is accepting crypto instead of Rubles, there’s no way that they can be blocked for doing so.

well, we will see the good and bad repercussions of this war to crypto. but i will be more on the positive side like for example, crypto are now legal in ukraine. they have seen the importance of crypto during this war. as they received hundred of millions of dollars and counting via crypto donations, they understand that getting on board with crypto market will give them the benefits during this war situation. physical financial institutions are destroyed and struggling. so for now, one easier option is to go crypto as they rehabilitate their financial system and the war is not yet on its end.

[bhooscream]

There are crypto proponents who have rallied in support of Ukraine and tried to find a role for crypto.

Not all people who have cryptocurrencies are a part of Ukraine supporters. Only some people are trying to support Ukraine by collecting funds through cryptocurrencies. There is no problem with this, collecting funds in crypto is okay, especially for humanity purposes. But note that it is only one of the ways for donating funds to Ukraine. Don't think Ukraine only rely on crypto to get donations. So, you cannot think that those people trying to get a role for crypto.

Thanks to that, Russia’s invasion of Ukraine can be called “the world’s first crypto war.”

LOL. How can? Russia and Ukraine don't war for crypto. 

[Flexystar]

It has become the easiest escape pod for the ukrainian and russian people as the situation plummet in the both countries. On one side Ukraine, where everything is damaged at worst way possible, the banks are broken, buildings are bruised and smashed, people becoming homeless, they will definitely choose the Crypto currencies to safe guard whatever they have left with!

On the second side where Russia is considered, Putin is pulling heavy restrictions on his own people and thus they are already against his decisions. The banks are ot allowed to dispense the whatever cash thats needed by people of Russia. So yep, why not switch to the Crypto currencies?

In addition to this, if crypto wouldnt have been here then, it would have be golds and diamonds. 

[mindrust]

The cryptocurrency exchange FTX, for instance, has given the equivalent of $25 to every Ukrainian user on its platform to use as they please,

This has nothing to do with crypto. A bank could do the same thing.

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.

Cuts both ways. UA benefits from crypto just like Russia uses it to evade sanctions of collect donations.

I don't think crypto is taking sides. Maybe some exchanges and some shitcoin CEO's do and nobody cares.

[monineklutak]

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.

Unfortunately some exchanges like Binance and Coinbase are refusing to block ordinary and innocent Russians from using their platform (but it may be updated from time to time if the West would decide for exchanges to have consequences if not complying to their requests or so).

If they transact from one non-custodial wallet to the other, and if any store or business in Russia is accepting crypto instead of Rubles, there’s no way that they can be blocked for doing so.

well, we will see the good and bad repercussions of this war to crypto. but i will be more on the positive side like for example, crypto are now legal in ukraine. they have seen the importance of crypto during this war. as they received hundred of millions of dollars and counting via crypto donations, they understand that getting on board with crypto market will give them the benefits during this war situation. physical financial institutions are destroyed and struggling. so for now, one easier option is to go crypto as they rehabilitate their financial system and the war is not yet on its end.

In the midst of such conditions where financial access is also disrupted, I think crypto is an alternative and that is a positive thing,
moreover we will not know this war will end until when it will certainly make Ukrainian civilians difficult in any way,
hope this war can end soon and follow the latest news

[bitgolden]

In the midst of such conditions where financial access is also disrupted, I think crypto is an alternative and that is a positive thing,
moreover we will not know this war will end until when it will certainly make Ukrainian civilians difficult in any way,
hope this war can end soon and follow the latest news

Crypto was created literally for this purpose. During the 2008 creation process, people had a problem in Cyprus. I do not remember what it was, it is a lovely island, but had some big economical problems. People had their money stuck in their banks and couldn't move it freely and basically the nation took control of the money transactions and you had to get access to it with their allowance.

Obviously as soon as crypto was created, it was forwarded to them and they realized they could take their money out completely without being worried about it. That was the key to its initial success, helping people get away from dictatorial control over their money. Works after more than 10 years the same way.

[milewilda]

In the midst of such conditions where financial access is also disrupted, I think crypto is an alternative and that is a positive thing,
moreover we will not know this war will end until when it will certainly make Ukrainian civilians difficult in any way,
hope this war can end soon and follow the latest news

Crypto was created literally for this purpose. During the 2008 creation process, people had a problem in Cyprus. I do not remember what it was, it is a lovely island, but had some big economical problems. People had their money stuck in their banks and couldn't move it freely and basically the nation took control of the money transactions and you had to get access to it with their allowance.

Obviously as soon as crypto was created, it was forwarded to them and they realized they could take their money out completely without being worried about it. That was the key to its initial success, helping people get away from dictatorial control over their money. Works after more than 10 years the same way.

It was indeed for the sole purpose of alternative payment excluding fiat of course which it did really have some role on these particular times which is something not surprising or shocking actually.
If ever Bitcoin wasnt here then fiat would be still on that particular role as always although there would be some problems that lies ahead but still couldn't be stopped in talking about funding
etc. but now we do have even more that fast and cant be interrupted and anonymous which it do really suit and fits out for this situation.

[Cookdata]

Crypto is not part of War and wasn't meant for war, it was developed to liberate people and that's exactly what it's doing best right now. For instance, Bitcoin is permissionless and holding it helps you make payment without seeking anyone or authority to facilitate your transaction and support borderless payment. Now, compare it with to Banks, will bank allow you to sent money to Ukraine knowing that you are doing it to support Ukraine, your governments may disapprove it at instants and let's say they even approve it, it will take days before that payment will get to Ukraine, this is where Bitcoin(cryptocurrency) saves people and not fuel for war.

[Vaskiy]

This isn't a crypto war. This time the digital attacks were found more powerful than the weapon attacks. For this reason we can't term it a crypto war. Different way of digital attacks were made.

Most recent one being the popular hacking team anonymous breached local TV network and the real face of Putin and the sufferings of people and soldiers. With this breach the misinformation that has been spread around by the Russian government have come to end. By the time it keeps hacking organization websites and have been collecting funds to support Russians who were against the war.

After the war began, the group breached over 300 Russian targets and collected about RUB 1 billion.

TV Network Breach

[Haunebu]

What the heck is a crypto war? Doesn't make any sense op. Crypto is just another type of money like FIAT, gold etc. Money is required to finance wars which is why some of these payment systems will obviously be utilised.

Crypto is definitely being used in the current Russia-Ukraine War though it still pales when compared to FIAT usage. BTC is the favoured cryptocurrency followed by some popular altcoins.

Crypto being used in wars in this manner is both good and bad just like the usage of other payment systems.

[CapGelatik]

Crypto is not part of War and wasn't meant for war, it was developed to liberate people and that's exactly what it's doing best right now. For instance, Bitcoin is permissionless and holding it helps you make payment without seeking anyone or authority to facilitate your transaction and support borderless payment. Now, compare it with to Banks, will bank allow you to sent money to Ukraine knowing that you are doing it to support Ukraine, your governments may disapprove it at instants and let's say they even approve it, it will take days before that payment will get to Ukraine, this is where Bitcoin(cryptocurrency) saves people and not fuel for war.

Sometimes we focus so much on war that if we talk about crypto then it gets connected and becomes part of the war,
actually with this crypto will facilitate and will help many people in Ukraine,
we have to see this in a broad spectrum don't limit it