Bitcoin becomes priority alternative when cash fails

[||bit]

The only thing that prove the people trust in bitcoin from the investment on bitcoin on 38k dollars.So the demands started to increase from that price.After the huge struggle the price of bitcoin had reached the value of 44k dollars.It’s not an easy things.From the war begins,the price of bitcoin reduced due to the panic selling.It takes some time for the recovery of the price.

[Silberman]

Actually you can argue exactly the opposite - when you are surrounded by devastation with no water, electricity or maybe even food - then it is highly unlikely you'll have access to an internet connection that could allow you to move such crypto funds around easily. Cash is king in that scenario (provided it's not the Russian ruble) but more likely things like gold are useful for bartering your way. Most of the world is privileged to exist in a relatively stable environment, but the sheer devastation that has been wrought on parts of Ukraine mean that it's much easier to transact in physical goods and makes hard cash more important than ever, provided it is relatively low volatility like USD.

I have read the stories of people that had to survive during a war for months and even years, and stuff that has no utility very quickly losses any purchasing power and you have to either barter or offer some useful skills that you may have, stuff like food, alcohol, medicines, toilet paper, cigarettes, candles and other consumables become incredibly valuable, while cash and gold become useless, now if you happen to accumulate a lot of cash or gold and survive the war you could make significant profits, but under those circumstances most people only think about the short term, as they do not have any idea if they are going to live to see another day.

[uneng]

I'm not so sure about this, because during a war, the first targets are the communication channels, besides the military centers. It means the enemy will destroy television and internet signal towers plus infrastructure. It means without internet connection bitcoin is almost useless as currency. When cash fails in scenarios like this, people appeal to barter system or start begging for donations.

[worle1bm]

The sad part is people are realising the true importance of bitcoin at this time when the conditions are very bad in the war affected regions.When there is no cash to afford the food and other basic amenities bitcoin is helping a lot to the people and say cash is not available and have gone too low in the value compared to USD standards.But on the other side btc have helped many as the exchange volumes have increased in both countries.Ukraine has also passed bill to consider it as legal tender and maybe this is where people see it as positive thing to adopt.

[Crypto Library]

Actually this epic moment happened in Ukraine, I don't know how difficult it is to get cash there (even using e-money). Someone sells "a Legendary Car" with bitcoin. View more...

Another milestone that bitcoin really serves as an alternative currency especially in times of urgency, bitcoin is really valuable for someone to survive. Because urgent situations are not just about war, calamities can also have more severe repercussions. I think this is a perfect consideration for any government not to be too strict on bitcoin regulations.

(The point of this thread is not about Ukraine situations specifically, but to the experiences of the people on this story.)

Cryptocurrency will be used not only as an alternative but also as a major currency in the future and then there will be no paper money.
And what has happened here is the success of this currency. They went through a moment when they had no hand work so they had to use Bitcoin as an alternative. And this is the advantage of cryptocurrency that you can make purchases wherever you are with a net connection.

[MinMan]

Generating income from taxing income from cryptocurrencies is a great way for governments to grab a decent amount from the citizens of their country.
But at the same time if they are taxing cryptocurrencies then they will also have to come out with laws and policies to regulate cryptocurrencies to protect funds of their people.
This is where many governments are struggling in my opinion. There are no clear laws in many countries for cryptocurrencies including my country India.

Generating income from ANYTHING is great for the governments. I mean they are always lacking money, they always have corruption and use the taxes that we pay them to get themselves and their families richer, which means that they always need more money to actually help us.

If you pay them 100 bucks, 80 will go to them and 20 will go to helping us, if you pay them 120, 90 will go to them and 30 for helping us. So, it does help us to pay more taxes... in a horrible way. So, governments will always need more taxes paid just so they could get richer and also still help us more. With this new crypto taxing, they could definitely fill their pockets and maybe build a school or two.

[LUCKMCFLY]

Yes, eventually it is a blessing compared to FIAT money, when you live in a country where your local currency is getting lower and lower in price and its value is more and more null, the acquisition of foreign FIAT money is very difficult, because every time it continues going up, then when you have BTC it becomes the only alternative that is above any currency, even if the price of BTC goes down it doesn't matter, because with respect to the local currency you are still earning, for countries with high inflation things They work like this, perhaps in countries with economies with better liquidity and with inflation less than 5%, things are somewhat different, however, BTC often represents the best way to invest so that you can save on lottery prizes.

[fuguebtc]

Actually this epic moment happened in Ukraine, I don't know how difficult it is to get cash there (even using e-money). Someone sells "a Legendary Car" with bitcoin. View more...

Another milestone that bitcoin really serves as an alternative currency especially in times of urgency, bitcoin is really valuable for someone to survive. Because urgent situations are not just about war, calamities can also have more severe repercussions. I think this is a perfect consideration for any government not to be too strict on bitcoin regulations.

(The point of this thread is not about Ukraine situations specifically, but to the experiences of the people on this story.)

Cryptocurrency will be used not only as an alternative but also as a major currency in the future and then there will be no paper money.
And what has happened here is the success of this currency. They went through a moment when they had no hand work so they had to use Bitcoin as an alternative. And this is the advantage of cryptocurrency that you can make purchases wherever you are with a net connection.

Crypto will always be an alternative that can exist alongside fiat, but cannot become major currency. I don't think it will happen in the future, although we have seen the benefits that cryptocurrencies brought to Ukraine during the war. Crypto still have certain weaknesses without internet then cryptocurrencies and bitcoin would suddenly become useless in this situation, so fiat is still necessary in our lives.

[suryana]

of course this will also be a solution if the cash transaction fails then we can switch to bitcoin or digital currency, with an unlimited withdrawal or deposit process of course this is the main attraction for miners to continue to be in the crypto world for a period of time long, so that bitcoin can provide convenience in carrying out a transaction if it fails to process cash

[Silberman]

I'm not so sure about this, because during a war, the first targets are the communication channels, besides the military centers. It means the enemy will destroy television and internet signal towers plus infrastructure. It means without internet connection bitcoin is almost useless as currency. When cash fails in scenarios like this, people appeal to barter system or start begging for donations.

Where bitcoin really shines is in your ability to move your wealth when you are running away from a country that is at war, as an example during the second world war many Jewish people began to run away from the countries that were invaded by Germany and they had to leave everything behind in order to try to save their lives, however with something like bitcoin you can move a significant portion of your wealth without bringing any unwanted attention to yourself, however if you get trapped in the middle of a war zone without any way out then bitcoin just like fiat and gold will become pretty much useless under those circumstances.

[peter0425]

of course this will also be a solution if the cash transaction fails then we can switch to bitcoin or digital currency, with an unlimited withdrawal or deposit process of course this is the main attraction for miners to continue to be in the crypto world for a period of time long, so that bitcoin can provide convenience in carrying out a transaction if it fails to process cash

and in the next years ? transaction will ne ore easier in crypto this is why sooner we will see more and more adopter will come and support will increase eventually .  and also it will not be a alternative besides crypto will be the next big thing that will explode in terms of payment and transactions .
expect that to come any time soon , maybe in the next year or at least 5-10 years from now when the world accept this as currency and not another scam word to explore .