In Case of Global Conflict, Is BTC The Best Alternative?

[DapanasFruit]

Right now, the world is witnessing another round of big conflict in Middle East particularly Israel after Hamas operatives were able to penetrate the small country and made some havoc moves. In the international theater, we still have the unresolved Ukraine-Russia war and there are those sounding the alarm for the possibility of the China-Taiwan turmoil as well as escalated North-South Korea protracted relations.

Now, in the face of a global chaos, do you think holding on to Bitcoin is a good idea to protect our assets? Will it be acting like gold which can be so valuable during war?

[stadus]

Now, in the face of a global chaos, do you think holding on to Bitcoin is a good idea to protect our assets? Will it be acting like gold which can be so valuable during war?

https://i.imgur.com/A5M3nZb.jpg

Absolutely! When a country declares war, it messes with their economy big time. Money's value tends to plummet because of high inflation brought on by the war. But hey, if you've got some Bitcoin stashed away in your wallet, it won't be as affected since its price isn't solely tied to one nation's situation. Unless, of course, there's a full-blown world war involving major countries; in that case, everything's probably in trouble. But at least your Bitcoin remains safe and sound, as long as you've got that key handy.

We've been through plenty of crises before, and you know what? Bitcoin's still kickin'. Actually, it's doing pretty darn well these days. Some folks even reckon we might be headed for a bullish period soon.

[Don Pedro Dinero]

Now, in the face of a global chaos, do you think holding on to Bitcoin is a good idea to protect our assets?

Not exactly. Holding bitcoin is a good way to protect our wealth, it is probably the best asset to do so. I think you have expressed yourself incorrectly and that is why I am clarifying.

When economic crises come, those who have assets always come out better off than those who don't, and this time will be no different. We have seen this with the war in Ukraine and inflation, which started before, and was exacerbated by it. Right now the price of oil is rising and this is going to have an impact on the economy in general. 

[adaseb]

Look back what happened when the war started in Ukraine. If you look at a weekly chart you can see that it had no effect on bitcoin. The market which had the most effect was oil markets where oil spiked higher during that month.

Right now the indices tanked, oil pumped and crypto markets traded sideways. So most likely it won’t have a negative or positive affect if the war in Israel is long.

[Solosanz]

That's not a global chaos, previously it's only Russian and Ukraine, while right now it's only Palestine and Israel, people who live in a country where it's far from those 4 countries will not get an impact. They might influence some effect like oil price, inflation etc, but you can still live freely even though it's quite struggling.

During global chaos, every assets will become worthless because foods, weapon and place to live are the most important thing.

But the case you mentioned above, it's a small chaos, the best is holding BTC since you can move to other countries and your wealth are still protected.

[GeorgeJohn]

At this point the banking system of those countries who are in conflict they will destroy everything in both countries as result of fighting, their is something I want to say concerning all this things, if you are opportune you can as well make sure that you purchase bitcoin and save because banks will get destroyed and before you can get your funds back it will take time and it can only happen when the fight is been subside, from what I understand and observe concerning all this things I believe that investing when a country is into crisis should be more of advantages than investing in manual business that will get destroyed by another country because of misunderstanding between two countries.

[mk4]

Thinking logically — bitcoin should be a great option when it comes to wars. But will people have the same opinion as you/us? Or will most market participants simply stick with good 'ol gold?

At some point in the future, people (or at least we hope) will hold bitcoin as a good alternative. But the question is — when?

[retreat]

I think if it's on a small scale like a conflict between countries which doesn't really have an impact on the economy, I don't think it will have a significant impact on the value of bitcoin. However, if it is a big conflict like the war between China and America which has a direct effect on the global economy, maybe Bitcoin will also be affected and that could drastically reduce the value of Bitcoin. So it depends on conditions. But I think up to now Bitcoin is still the safest investment instrument for wealth.

[Kakmakr]

Well, let's look at it from a WAR angle and then decide if it is a good currency or a good store of value. During a war, countries destroy each others communication capabilities (Example Cellphone towers / Internet cables etc).... so citizens will not be able to use the Internet to access the blockchain, making Bitcoin payments almost impossible.

On the other hand.... storing your coins in the Blockchain... might save it from total destruction.... when buildings and Banks are destroyed. Your personal belongings like gems and precious metals might be raided or stolen, where you can easily store an encrypted Private key online or buried in a waterproof container, where you can retrieve it after the war. 

[Zaguru12]

I think if it's on a small scale like a conflict between countries which doesn't really have an impact on the economy, I don't think it will have a significant impact on the value of bitcoin. However, if it is a big conflict like the war between China and America which has a direct effect on the global economy, maybe Bitcoin will also be affected and that could drastically reduce the value of Bitcoin. So it depends on conditions. But I think up to now Bitcoin is still the safest investment instrument for wealth.

OP isn’t asking about the value of bitcoin or it’s price but the significance or it’s importance in the face of war. During War between multiple nations the best type of currency to hold will be a universal currency because holding on to a particular countries currency will place your asset on huge risk if the war prolongs in that particular country which leads to either the country been faced with sanctions which in turns can actually lead to the devaluation of that currency or probably the long way affects the country banking system which then makes it hard for you to convert your funds in the currency. But a general currency like bitcoin wouldn’t be affected in this cases as you can move to just any country to exchange it to any type of fiat you want or even directly use it to transact in business. A clear example of bitcoin importance was shown during the Ukraine-Russia war when donations were done in bitcoin

[bitterguy28]

Now, in the face of a global chaos, do you think holding on to Bitcoin is a good idea to protect our assets? Will it be acting like gold which can be so valuable during war?

If we are going to wanted saving our funds In terms of looting or other negative effect of Physical wars then  the best way to invest and make it safer in Bitcoin and to keep out asset be there .

But for personal preferences learning from what happened in the past WW2 , I thing  we also have to take Gold and some Paper money for personal support .
to sustain our daily needs and also to use as bargaining when the war goes deep in our City and our provinces .

[Odohu]

Now, in the face of a global chaos, do you think holding on to Bitcoin is a good idea to protect our assets?

This is absolutely correct! The war in Ukraine have proven this to be the case because Bitcoin helped in sending funds to  many people that I know during evacuation when conventional methods of payment failed . Millions of dollars were also raised for Ukraine through Bitcoin. So it is surely looking like Bitcoin is a good resort for people when there is uncertainty.  

[pakhitheboss]

Converting local fiat to Bitcoin prevents the value to depreciate in USD. When a country goes to war it's currency starts to depreciate gradually. In such scenarios the wealth of its citizens starts to depreciate, most cases the rich and affluent start converting thier local money to USD. For a common person that is not an easy task that is why it would be wise to invest in Bitcoin.

[noorman0]

If you ask about flexibility, yes bitcoin is very helpful. You may be able to cross your country's borders without much administrative process. If you mean hedging, it depends on who is fighting, some influential countries actually have a significant effect on bitcoin volatility. The value of your assets may decrease, while you will experience difficult times that cannot be determined and will make it impossible to survive without spending your bitcoins.

[EluguHcman]

At when there is a crisis in and amongst nations, there is said to be deflation values within the affected waring nation while it boils at increasing the values of other nations as an advantage draining the supposed values of the affected waring nation (s). And at such a point, do many assets are gone down (lost) and most especially conversational assets.
Bitcoin would always be the best sort of investment to secure your asset at any cost of nature.

Maybe I should just let you know that viruses only attacks a softwares if the software is not protected enough with antivirus. This is just a lay scenero of the Bitcoin where it is a decentralized global coin that posseses phrases and private keys to uphold your Bitcoin wallet by yourself without a compromise.

I can also say to you that many conventional investors are affected by even just a community inflation but Bitcoin has itself determination values as fluctuations like to be inflation or delation but not as a course of a crisis or waring amongst nations.
The only possibilities of staking your Bitcoin asset's to a lost is when you get out of your private handy keys( passwords & phrases) else your Bitcoin remains 100% untempered by a second party and not even a global economy can get rid of it from you aside the effects of inflation and deflation as the coin is a volatile with the possibilities of fluctuating.

[Crypt0Gore]

I can see people panicking because of the war on Israel right now and I believe it has nothing to do with the survival of bitcoin and crypto, it makes no sense to be worried because of the war, I am only worried for the people in Israel right now because I believe this can also happen in any country, I don't like war and this makes me sad for Israel.

If we can spend some time to go back in history, even while the afghan war was scary and it's ongoing Bitcoin still reached a new all-time high, back to the war matter, I believe moving funds out of a warring state or country will be very hard, so things like gold and fiat can instantly become useless.

Thinking about what I am thinking? Banks app won't work anymore, you won't be able to move funds out once missiles strikes a country, there will be massive panic and connections will be messed up, it's like the end of the world, it's better to be in Bitcoin at this stage, you can easily arrange space for yourself and your family, Bitcoin is very useful in this type of situations.

[Bananington]

BTC might offer a safe haven to an investment value of worth but since it is digital, what happens when transmission or network fails to work?
Am also concerned about p2p not being able to function perfectly unless it is someone close we know or from someone who is not in a waring side of the world.
The best option I know is physical asset and the gold standard comes in first place before other precious metals and antiques may be considered.

[vv181]

Thinking about assets when global conflict or chaos arises is the last thing that most people would do. There are more pressing and urgent things to consider than simply merely trying to find a way to protect their assets.

What we know from the Ukraine - Russia conflict and the recent Palestine - Israel, is that war, energy, oil, and cybersecurity stocks are gaining its momentum. So rather if the conflict escalates, I don't think Bitcoin would be a better option for most people, especially if the chaos happens for long-lasting, which is very likely.

[benalexis12]

If you yourself are in the country of Israel and that is the situation, then you have money in banks in that country. I think it is good to take your money out of the bank first, and to transfer your money from the bank, it is good to transfer it to Bitcoin, and then it's good to hold it long-term.

and while you are doing that, it is also better that you store it in hardware or electrum, because at least if it comes to the point of losing the internet connection there, your assets will be safe compared to your money in the bank. This is just my suggestion.

[Charles-Tim]

Right now, the world is witnessing another round of big conflict in Middle East particularly Israel after Hamas operatives were able to penetrate the small country and made some havoc moves.

Are you referring to Isreal a small when comparing it will Palestine? The whole Palestine, is small in land, population and power if compared to Isreal. I see the fight as foolishness because Isreal is far ahead in power and influence.

Now, in the face of a global chaos, do you think holding on to Bitcoin is a good idea to protect our assets? Will it be acting like gold which can be so valuable during war?

Bitcoin has showing itself to be better during war like this, but I do not know if it becomes world war. In countries where there is war, bitcoin sell at premium in such countries. Banks can be destroyed during war, but bitcoin wallet can not be destroyed as long as you have your seed phrase.