Bitcoin having effect on the ongoing war

[Kemarit]

I see the world is moving in a direction where it will be divided in two sections, one would be US supported countries that will continue to use the dollar as their main currency. The other block will be forming as an Anti-US country that may use Bitcoin as a main currency to trade/deal between them.

The replacement of USD as a reserve currency will likely happen eventually unless China gets defeated badly in the geopolitical games. But there's close to zero chance that it'll get replaced by Bitcoin.
The world's reserve currency will be the currency of the country that dominates economically (and militarily).

I wonder if US is actually capable and willing to do anything to prevent that from happening.

I will be in the opinion that they will do everything in their power to maintain USD as the dominant reserved currency. Although there are a lot of movements right now, BRIC thinking of another alternative currency to be used, or as someone mentioned, Saudi might try the Yuan. US is still capable to do that, maybe offer trade baits for other countries, or improved their trade relations so that they can keep power of the USD.

As for bitcoin or any cryptos to be a reserved currency, it should be stable, which obviously is not a trait of BTC. And for Yuan to be a reserve currency, it should have depth and liquidity, and their financial still lacks that.

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[Fiatless]

I will be in the opinion that they will do everything in their power to maintain USD as the dominant reserved currency. Although there are a lot of movements right now, BRIC thinking of another alternative currency to be used, or as someone mentioned, Saudi might try the Yuan. US is still capable to do that, maybe offer trade baits for other countries, or improved their trade relations so that they can keep power of the USD.

As for bitcoin or any cryptos to be a reserved currency, it should be stable, which obviously is not a trait of BTC. And for Yuan to be a reserve currency, it should have depth and liquidity, and their financial still lacks that.

There seems to be a little crack in BRICS. South Africa has informed Russian President Putin that he would be arrested if he steps his feet on South African soil. There was pressure from Russia and China on South Africa to withdraw from the International Criminal Court ICC and it was assumed that it have succumbed when South African President Ramaphosa criticized the ICC and threatened to quit the organization. But the recent decision to execute the warrant on Putin issued by the ICC is proof that the US and her allies still have a lot of influence on some of these BRICS nations.

I still believe that Bitcoin is the best option for any country to channel its reserve to because it is transnational and free from the politics of any country.

[Sexylizzy2813]

Cryptocurrency will not help win the war.

Definitely cryptocurrence will never help win the war but it has a way of promoting the war or even making sure that those who lost their homes can eventually get something to help themselves with, those who are in the hospital can get relief materials.
With so much donations cryptocurrence can help either negatively or positively.

[Bushdark]

The ongoing war between Russia and Ukraine has shed more light on how digital currency is being used for military aid, since the invasion the Ukraine government have turned to social media and asked for the donation of Bitcoin, stablecoin and every other cryptocurrency.

From all indication the response was massive with over 100,000 people are contributing to help out Ukraine to improve there military effort in the war. One could never believe that helps could come from different people all over the world to assist Ukraine, to be frank with you, some individuals would have thought that NETO are the only ones helping Ukraine.
According to Ukrainian deputy digital minister Alex Bornyakov, the country has been using crypto to purchase fighting essentials like bulletproof vest, drones and other military gadgets/equipment.

https://bitcoinist.com/crypto-accepted-by-60-of-ukraine-weapons-suppliers/

The NATO had always think that Russia is doing very well because they were able to use Crypto to finance there budget and do other expenses which I don't think is true. Even till tomorrow, Putin is still one of the biggest supplier of uranium and other essential materials to the US and other European countries like France, Germany and others. I don't think Bitcoin is ever having any effect on the war but it's very obvious that many people even cryptocurrency writers are only suggesting that the donations to Ukrainians had been helping to provide potential aids to the government.

[yhiaali3]

. I don't think Bitcoin is ever having any effect on the war but it's very obvious that many people even cryptocurrency writers are only suggesting that the donations to Ukrainians had been helping to provide potential aids to the government.

I do not think that Bitcoin will have a tangible impact on a war of this magnitude. Bitcoin may be useful in some logistical and medical military aid, but this does not constitute an effect on the course of the war.

The impact of the aid being provided by bitcoin cannot be compared to the massive military aid that the United States and NATO are providing to Ukraine, and yet the war is still going on.

Personally, I do not like that Bitcoin be used in war, it is better that it be used in providing medical and humanitarian aid only.

[pawel7777]

As for bitcoin or any cryptos to be a reserved currency, it should be stable, which obviously is not a trait of BTC. And for Yuan to be a reserve currency, it should have depth and liquidity, and their financial still lacks that.

In a situation where we have multiple superpowers competing for global dominance, having reserve currency backed by nothing (be it BTC or any of the fiat currencies) is risky. It would make more sense to have a currency backed by commodity, or better yet, by multiple commodities. Or we could just not have one, global reserve currency and be using few different ones instead.