Effects of war on bitcoin

[Darker45]

Wars and pandemics and all don't exist in a vacuum. They have ripple effects that would extend to so many aspects of our lives. In the same manner that a virus wreaked havoc to global supply chains, government debts, employment, inflation rates, and others, the Ukraine invasion has also caused significant economic changes. It could even mean a serving of chop suey in a lowly eatery somewhere in my city far away from Ukraine will increase in price. It could affect Bitcoin as well. But this isn't the only, not even main, factor.

[Xampeuu]

Different countries issues is the reason why bitcoin is suffering price loss, when countries are not at peace with others, the whole nations suffered economic crisis, I remember when the price of bitcoin start going down was same season Russian x Ukraine start economy wars. Bitcoin seem to remained statics because of sentiments by this countries attitude towards the resourceful digital products that would have swim financial hardship.

I believe that it will not significantly impact the overall crypto market since we are decentralized and not owned by a single country. Look at what happened in the past with China's ban on bitcoin. Although the market panicked, bitcoin eventually reached a new all-time high. Bitcoin and fiat are different; during times of war, fiat will suffer, but bitcoin will prosper. That's my take.

indeed, if you look at it, the war with bitcoin is not significant, but the connection may be that when the war occurred and resulted in a decline in the global economy, investors experienced a decline, due to economic difficulties. but during the ukraine war until now, bitcoin touched the lowest price of up to $ 16k and is currently increasing almost 2x, from that we can actually take advantage of it in the past to make profits in a short time even though it is still in a bearish season, taking advantage of the moment to be the key to success in investing in bitcoin

[Iranus]

I think the war surely influenced Bitcoin, but it goes down not because of the war.

Bitcoin is going down since 2021 and a lot of things happened since then. The pandemic was the hardest hit on Bitcoin and the consequences of the pandemic were a damaged economy and inflation which appeared because the government started to print money. So the economy already looked bad every before the way. But fur sure, the war has boosted inflation and damaged the world's economy even more.

But I think there is also a good thing for bitcoin. The war has shown people that banks can stop working and you will lose all their money. A lot of people started to use bitcoin to save their money, make transfers and donations to Ukraine.

Before that, there were many predictions that in 2022, we would enter the bearish season when bitcoin hits ATH $69k in November, and bitcoin also starts to decline from there. At the same time, the consequences of the covid pandemic also began to hit the world economy, and war suddenly occurred, making everything worse. I agree that the aftermath of the pandemic and war has affected bitcoin, but if we had no covid, no war, and no economic crisis, we would also enter the bear season. It is a 4-year cycle of the market, they will take place even without the impact of external factors.

But you're right, bitcoin was created out of the 2008 economic crisis and along with this crisis. It further shows us Satoshi's vision and the creation of bitcoin is an entirely right thing. Banks are collapsing, and fiat currencies are losing value, but bitcoin is doing very well despite the growing crisis.

[Fivestar4everMVP]

Different countries issues is the reason why bitcoin is suffering price loss, when countries are not at peace with others, the whole nations suffered economic crisis, I remember when the price of bitcoin start going down was same season Russian x Ukraine start economy wars. Bitcoin seem to remained statics because of sentiments by this countries attitude towards the resourceful digital products that would have swim financial hardship.

Personally, I think wars have more negative effect on the local currencies of the countries involved, and not bitcoin, Infact, to make it even plain, wars rather bring positive impact to bitcoin because, when countries go into war, the local currency of that country is unsafe to hold, those who care would be looking for alternatives currencies to hold their money in, and that is when bitcoin comes in.,

The fact that the price of bitcoin reduced during the time russia and Ukraine went into economic war, might not necessarily mean that that was the reason the price of bitcoin came down..

[tygeade]

There are many factors to watch out when it comes to Bitcoin price change.  Many things can affect the market.  Not just only wars, but also other things too. But yes, when some countries face economical problem, it somehow effects the Bitcoin market too. I guess it totally depends on sentiments of market.
When the war begins, many big holders in those countries choose to sell their Bitcoins in order to survive or some other reasons.  But the effect is temporary, as we have seen many times already.  Bitcoin has the ability to go to the bottom and then come back to the top.  Next halving or other reasons could start the next Bull Run.  So there is no need to worry about those facts.  All you need to do is hold. 

I think it depends on the size of the war. Because Yemen has been at a war with Saudis and they have been in poverty and children are dying and there has been a ton of trouble there for many years. Have we seen that change anything at all? I do not think that it changed anything for the long time to be fair and I feel like there is a big case of trouble going on right now.

I believe that we can't really focus on anything that is just a war, we need something that impacts the whole world. Why did Russia vs Ukraine impacted economy? Because that resulted with many rich wealthy western nations not only send a lot of money to Ukraine to help them defend, but also Russia to have sanctions and get poorer at the same time. This is why there is a big difference between wars, some do impact the price, some don't.

[Bushdark]

Different countries issues is the reason why bitcoin is suffering price loss, when countries are not at peace with others, the whole nations suffered economic crisis, I remember when the price of bitcoin start going down was same season Russian x Ukraine start economy wars. Bitcoin seem to remained statics because of sentiments by this countries attitude towards the resourceful digital products that would have swim financial hardship.

Bitcoin is not causing any sentiment because is not never pegged to a particular currency so people can freely use it without any issue. This major problem behind this high fee is nit because of the war in Ukraine or in Russia. This is due to the congestion of the mempool leading to increase in the network fee. I am very sure that those that have nodes would be very profitable this time because they will be the one profiting from the high network fee that investors and traders that are running transactions will be paying.

[lepbagong]

I think the war surely influenced Bitcoin, but it goes down not because of the war.

Bitcoin is going down since 2021 and a lot of things happened since then. The pandemic was the hardest hit on Bitcoin and the consequences of the pandemic were a damaged economy and inflation which appeared because the government started to print money. So the economy already looked bad every before the way. But fur sure, the war has boosted inflation and damaged the world's economy even more.

But I think there is also a good thing for bitcoin. The war has shown people that banks can stop working and you will lose all their money. A lot of people started to use bitcoin to save their money, make transfers and donations to Ukraine.

there are always bad and good impacts with the occurrence of war, even though if the war does not spread to other countries, of course it will not have too much impact on the world economy so that it is disrupted, which in turn also has an impact on bitcoin.

it is true what you said that the biggest impact was because the pandemic that occurred made countries have to spend extraordinary funds for health, triggering enormous inflation.

but indeed when the war situation is raging, it is certain that the economy in warring countries will be greatly affected, especially for trade which must be disrupted by distribution, not yet with the non-recognition of the value of its currency for international transactions and there the role of bitcoin is felt and helps from the needs of every payment transaction that occurs , so it's no wonder that many make bitcoin as a tool that can help.

[serjent05]

Most of us believe that if there is a conflict, the price of Bitcoin and other cryptocurrencies will plummet. But that is not true, because in 2020, there is a global pandemic that severely damages our economy, but what happened in Bitcoin that time? Price hikes have caused an abrupt surge in the market, indicating that there is a lot of demand. As you can see from the chart, it reaches an all-time high. As a result, I believe that if there is a war, it may be beneficial or detrimental to crypto.

War is different from the pandemic.  War can destroy infrastructure, pandemics do not.  So in case war erupts globally,  it is obvious that destruction will hinder communication.  when communication is down, it will be hard to do trades so possibly the Bitcoin market may come to a halt. With many lives lost and poverty due to war, it is obvious that Bitcoin will lose its demand since people will be prioritizing their basic needs for survival.  More or less Bitcoin market will be in a decline.

[Woodie]

This one is easy!

We all know that in times of conflict, or should  I say war comes,  you expect all financial systems and banks to go down leaving people to go the old skool way of barter system were someone with medicines can trade for food or anything they like...and bitcoin being such a currency without boarders having to own it can mean going to any neighboring  county without having to worry about cash and the alike, which increases  your chances of survivor...

But then again,  bitcoin being an asset that relies on internet  infrastructure I think it will be difficult to use as the other conflicting team could target communication structures to cutoff any kind of coordination which makes btc useless to some extent...

[royalfestus]

It is important to avoid attributing every economic downturn solely to the conflict between Ukraine and Russia, especially when considering regions with no significant history of cryptocurrency trading, development, prominent cryptocurrencies or unique regulations. In fact, recent changes in the cryptocurrency landscape in the United States and China may have had a greater impact. Additionally, the current trend appears to be consistent with expectations among experienced traders who anticipate a slight downturn at this time.

[darkangel11]

I'm really getting tired of people looking for ways to explain every little dip in price or every little pump. Maybe this time it's war in Ukraine, or something Buffett had said. Was it the CPI print, rate hikes, rate cuts, congressional hearings on bitcoin, El Salvador adoption, Chinese bans, banking crisis, bailouts, Jamie Dimon, Roubini, or maybe Musk...
Nobody cares, maybe it's just a simple supply and demand thing? Price action as traders call it. People decided that it's not making it to 35k this run so they're selling to buy back at 25k. Don't try to blame everything on external factors.

[jeraldskie11]

Most of us believe that if there is a conflict, the price of Bitcoin and other cryptocurrencies will plummet. But that is not true, because in 2020, there is a global pandemic that severely damages our economy, but what happened in Bitcoin that time? Price hikes have caused an abrupt surge in the market, indicating that there is a lot of demand. As you can see from the chart, it reaches an all-time high. As a result, I believe that if there is a war, it may be beneficial or detrimental to crypto.

War is different from the pandemic.  War can destroy infrastructure, pandemics do not.  So in case war erupts globally,  it is obvious that destruction will hinder communication.  when communication is down, it will be hard to do trades so possibly the Bitcoin market may come to a halt. With many lives lost and poverty due to war, it is obvious that Bitcoin will lose its demand since people will be prioritizing their basic needs for survival.  More or less Bitcoin market will be in a decline.

I agree that war is different from pandemic but both can cause economic crisis. If there's a war just like what happened in Ukraine, the internet connection is disrupted and it difficult for them to communicate. So institutions and banks will be having difficulty to trade if there's no internet connection and would affect the market price really hard that could lead to a massive down fall. But the thing is, there is no chance of having a war just like what happened before, in our history. That's why for me, anything that can cause economic crisis can be taken as an advantage for whales and institutions by buying an asset in a very discounted price before it goes up.

[ChiBitCTy]

Different countries issues is the reason why bitcoin is suffering price loss, when countries are not at peace with others, the whole nations suffered economic crisis, I remember when the price of bitcoin start going down was same season Russian x Ukraine start economy wars. Bitcoin seem to remained statics because of sentiments by this countries attitude towards the resourceful digital products that would have swim financial hardship.

Yeah there is no question that the war in Ukraine is a big part of all of the economic turmoil across the glob right now.  Once this war became about, almost immediately there was economic suppression and some seriously messed up economic aspects of our every day lives such as inflation and interest rate issues.

War is sickening, and there's always a way for peace. Imagine what our economies would look like if we didn't spend so god damn much money on war.

Bitcoin is just one victim amongst many.

[noormcs5]

Wars and pandemics and all don't exist in a vacuum. They have ripple effects that would extend to so many aspects of our lives. In the same manner that a virus wreaked havoc to global supply chains, government debts, employment, inflation rates, and others, the Ukraine invasion has also caused significant economic changes. It could even mean a serving of chop suey in a lowly eatery somewhere in my city far away from Ukraine will increase in price. It could affect Bitcoin as well. But this isn't the only, not even main, factor.

People may think that a situation like war or pendamic can make bitcoin pump or dump, but I think we should not wish for these two extremes situations only to gain monetary gains.

Another thing to note or food for thought is that war is something which we do not see often. It may take year's or decades until there is any situation of real war. Also these days the wars are deadly as mankind have developed explosive weapons that may destroy the people / places in very quickly in short span of time.  When people lives are not safe, I don't think any investment market can survive or grow in these worse situations.

[Accardo]

Wars and pandemics and all don't exist in a vacuum. They have ripple effects that would extend to so many aspects of our lives. In the same manner that a virus wreaked havoc to global supply chains, government debts, employment, inflation rates, and others, the Ukraine invasion has also caused significant economic changes. It could even mean a serving of chop suey in a lowly eatery somewhere in my city far away from Ukraine will increase in price. It could affect Bitcoin as well. But this isn't the only, not even main, factor.

People may think that a situation like war or pendamic can make bitcoin pump or dump, but I think we should not wish for these two extremes situations only to gain monetary gains.

Another thing to note or food for thought is that war is something which we do not see often. It may take year's or decades until there is any situation of real war. Also these days the wars are deadly as mankind have developed explosive weapons that may destroy the people / places in very quickly in short span of time.  When people lives are not safe, I don't think any investment market can survive or grow in these worse situations.

War is never recommended in the lives of human, but as everyother thing created by humans or God it has its economic importance and War is not an exception. Aside that, Bitcoin is a currency that survives regardless of any economic condition. The topic should be "the effect of bitcoin on war" because bitcoin is not affected by war, its just the price pegged to fiat that is, so in the actual sense, imagine people who fled Ukraine during the first Russia attack or invasion, many left their fiats destroyed and houses collapsed from the said weapons you just mentioned. What happened to bitcoin? nothing, did you hear any bitcoin got destroyed. Citizen who own bitcoin left the country with any amount of bitcoin without worries of its weight. I think war has nothing against bitcoin, rather bitcoin has helped people escape war and begin a new life somewhere else maintaining the same status; had their funds, such citizens didn't end as refugees.

[tjtonmoy]

I believe that we can't really focus on anything that is just a war, we need something that impacts the whole world. Why did Russia vs Ukraine impacted economy? Because that resulted with many rich wealthy western nations not only send a lot of money to Ukraine to help them defend, but also Russia to have sanctions and get poorer at the same time. This is why there is a big difference between wars, some do impact the price, some don't.

Well it is true. But it is also true that these effects are temporary. How the world is going to react to the world will impact the entire economy, and this will also impact the Bitcoin market. Those wars, where many countries are involved, will have less impact, where there is the other county defending itself from the entire world. As we see with Ukraine vs Russia war. Many are trying to help Ukraine by providing many helps while trying to take away powers from Russia. So in this process, we are facing economic crisis.
So yeah, some wars have impacts while some doesn't.

[dlightag]

The world has been facing economy crises, and the Russian and Ukraine war has made it to effect Bitcoin price, during the last Bull Run was dropped as the results of war, actually Bitcoin is gradually growing back, which all eyes is on Bitcoin as number one cryptocurrency digital assets.

[avp2306]

Most of us believe that if there is a conflict, the price of Bitcoin and other cryptocurrencies will plummet. But that is not true, because in 2020, there is a global pandemic that severely damages our economy, but what happened in Bitcoin that time? Price hikes have caused an abrupt surge in the market, indicating that there is a lot of demand. As you can see from the chart, it reaches an all-time high. As a result, I believe that if there is a war, it may be beneficial or detrimental to crypto.

War is different from the pandemic.  War can destroy infrastructure, pandemics do not.  So in case war erupts globally,  it is obvious that destruction will hinder communication.  when communication is down, it will be hard to do trades so possibly the Bitcoin market may come to a halt. With many lives lost and poverty due to war, it is obvious that Bitcoin will lose its demand since people will be prioritizing their basic needs for survival.  More or less Bitcoin market will be in a decline.

I agree that war is different from pandemic but both can cause economic crisis. If there's a war just like what happened in Ukraine, the internet connection is disrupted and it difficult for them to communicate. So institutions and banks will be having difficulty to trade if there's no internet connection and would affect the market price really hard that could lead to a massive down fall. But the thing is, there is no chance of having a war just like what happened before, in our history. That's why for me, anything that can cause economic crisis can be taken as an advantage for whales and institutions by buying an asset in a very discounted price before it goes up.

Internet connection is very important on cryptocurrency since we cannot do any transaction if connection is off. Knowing how big the effect of the war and for sure internet signals will take long to get fixed if your country will be totally destroyed by the war. For sure bitcoin's economy will face a hard condition since maybe this can create chain effect to other countries and they dump  to. But as said thus is temporary only and maybe other investors on different country will start to accumulate and even if there's no participation on a country affected by war bitcoin will still rise.

[jeraldskie11]

Most of us believe that if there is a conflict, the price of Bitcoin and other cryptocurrencies will plummet. But that is not true, because in 2020, there is a global pandemic that severely damages our economy, but what happened in Bitcoin that time? Price hikes have caused an abrupt surge in the market, indicating that there is a lot of demand. As you can see from the chart, it reaches an all-time high. As a result, I believe that if there is a war, it may be beneficial or detrimental to crypto.

War is different from the pandemic.  War can destroy infrastructure, pandemics do not.  So in case war erupts globally,  it is obvious that destruction will hinder communication.  when communication is down, it will be hard to do trades so possibly the Bitcoin market may come to a halt. With many lives lost and poverty due to war, it is obvious that Bitcoin will lose its demand since people will be prioritizing their basic needs for survival.  More or less Bitcoin market will be in a decline.

I agree that war is different from pandemic but both can cause economic crisis. If there's a war just like what happened in Ukraine, the internet connection is disrupted and it difficult for them to communicate. So institutions and banks will be having difficulty to trade if there's no internet connection and would affect the market price really hard that could lead to a massive down fall. But the thing is, there is no chance of having a war just like what happened before, in our history. That's why for me, anything that can cause economic crisis can be taken as an advantage for whales and institutions by buying an asset in a very discounted price before it goes up.

Internet connection is very important on cryptocurrency since we cannot do any transaction if connection is off. Knowing how big the effect of the war and for sure internet signals will take long to get fixed if your country will be totally destroyed by the war. For sure bitcoin's economy will face a hard condition since maybe this can create chain effect to other countries and they dump  to. But as said thus is temporary only and maybe other investors on different country will start to accumulate and even if there's no participation on a country affected by war bitcoin will still rise.

Internet as of this time is very important in cryptocurrencies because you can't do any actions with your funds if there's no internet access. However, there are practices already that you can do a transaction without internet connection, and that was tried on Bitcoin. One them are through SMS[1] and Radio Waves[2]. It may be tricky for now but I think we will become familiar with it in the future.

[1]https://rusnak.io/how-to-push-bitcoin-transactions-via-sms/
[2]https://cryptomode.com/ham-radio-waves-pave-the-way-for-global-offline-lightning-network-transactions/?_gl=1*1lu7a07*_ga*YW1wLWtnR0NQcjRzNk9WdmQ0TzBjTHNUVW0ySlM0c0daM3gwQ2lTSXFjSEo5bnNvbU1KOUpxRTVBZkdYZ1NIbHlBWkw.

[Baoo]

Well, wars have effects on global economy including Bitcoin and generally cryptocurrencies.   For example, when Covid pandemic occurred, the world economic faced a huge crisis  and it was widespread. Similarly to Bitcoin, it has decreased dramatically to $7.3K , same crash  happened to the whole market due to majority of cryptocurrencies are related to Bitcoin that means they are fully decentralized. However, the opposite happened when Russia’s war in Ukraine has began, there was a plenty of countries who faced financial crisis, meanwhile Bitcoin has rose remarkably. In conclusion, the war could be fruitful on Bitcoin or unbenefical.