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

[Initscri]

It would heavily depend on the state of infrastructure around the world (aka power/internet)

If internet/power is still available, absolutely - it's possible Bitcoin could succeed fiat in reliability.
That being said, if internet/power are out, we'll probably resort to the same old standards - precious metals & necessary items.

[FinneysTrueVision]

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?

The one thing all these conflicts is that the United States has been stoking the flames in each of them. The US will try to use its hegemony in an attempt to influence the outcomes. Countries that don't want to be at their mercy should consider using Bitcoin as an alternative. There is no reason why countries who aren't directly involved to put their own interests aside and stop transacting with sanctioned countries. Ordinary citizens of Palestine and many other places are unable to get aid that can alleviate their suffering and permissionless money is one of the very few options for supporting humanitarian organizations based in those areas.

[CryptoBuds]

Hodl Bitcoin in times of war is the best, the fact is you're protecting your asset because in times of war anything can happen, maybe the burning of banks or the burning of houses or maybe banks shutdown and such shutdown may lead to breakdown of physical asset. But I don't see Bitcoin fight against inflation in times of war.

I understand your point here you are avoiding holding anything physical because of the war and you can easily lose it. You have a point here.
But I think what OP really want to mean here is the value of holding Bitcoin, in term of the price of Bitcoin. We all know that this current turmoil can be considered as fundamental analysis to add up in Bitcoin.
But for me, since this turmoil is only few countries are really affected, I don't think Bitcoin will also be affected here, not the same with COVID-19 before.

When the war between Ukraine and Russia broke out, it also affected bitcoin and I think this time is no exception. War affects human life and property in countries at war, but it will also cause global impacts such as energy, food... thereby destabilizing the global economy. So it can be said that bitcoin will also be affected if there is a war. Currently the market is also having slight corrections, bitcoin is not falling too much but altcoins are very bad, I think also due to the influence of recent war news. Oil prices are up, gold is up, DXY is volatile, cryptocurrencies are no exception.

[alexforneus]

I think, that in case of WW III we will not need any money anymore. It will be about global instinction. At least, i hope that it will stay at local levels. In this case, bitcoin can act as a hedge against war, yeah

[kryptqnick]

I guess the answer depends on where you are and how far the war spreads. If you're in a country that's directly involved in the war, it's likely that your local fiat will suffer greatly, so Bitcoin might be useful, but only if you're sure you'll be able to exchange it for fiat (or use it directly) when needed. In practice, you might not have stable electricity and/or Internet connection, and in some cases, the only things of value will be food, meds, and weapons.
If you're in a country outside the war, just watching, then I guess not much changes in comparison with what's already going on right now.
If we entered a WW3 nuclear kind of situation, neither Bitcoin nor fiat is likely to be useful, and essentials would become the currency and grow in value.

[pinggoki]

I think, that in case of WW III we will not need any money anymore. It will be about global instinction. At least, i hope that it will stay at local levels. In this case, bitcoin can act as a hedge against war, yeah

You mean extinction right? I disagree that bitcoin will be a hedge against war, I mean if that was the case, bitcoin would've been pumping non-stop with the advent of Ukraine-Russia war right?

Regarding global conflict, if your country isn't in any way affected, pretty sure that bitcoin would still do you good although if you're in a country affected by war, you're better off buying precious metals with your bitcoin and then try hoarding it because raw materials like iron and steel will be in demand.

[icalical]

In case of Global Conflict, BTC would be better option than Fiat, but I don't think it's better option than Gold. I wouldn't just turn all my assets into Bitcoin. But all that being said, if my country is the one that are having a conflict or war, I wouldn't even think about money, I would just try to survive, gather any food and water, I mean trying to leave the country might be too late right?

[DeathAngel]

In the case of global conflict bitcoin can 100% be considered as a potential alternative. Its decentralised nature & cryptographic security make it resistant to censorship & control by any single government or authority. Bitcoin operates on a global scale allowing for seamless cross border transactions & potentially serving as a store of value in times of economic uncertainty. The 21,000,000 hard cap is one of its best features. Bitcoin can be volatile though & its acceptance as a widely recognised alternative may vary depending on the circumstances & global sentiment. It’s always wise to diversify investments & consider other assets as well.

[pawanjain]

It is. But sticking to one asset would be a mistake and we should consider diversifying our money into different assets.
Gold, Bitcoin, Real Estate, Bonds are some good ways to diversify but we should also consider holding some liquid cash in case of such crisis.
We never know how long it can last and how deep it can impact the economy and so holding cash for daily expenses would be a good idea.

I don't understand why you have such thought.

During crisis, your fiat will become worthless because the inflation surge really high.

During crisis, your real estate will become worthless too because no one want to buy it and many people would harm any buildings due to chaos.

During crisis, bonds will be worthless too since the government is struggling.

Gold need a good space and heavy, it's not flexible.

Only Bitcoin which can escape from everything I mentioned above.

You are getting it totally wrong. During a crisis, we want our wealth to be well diversified so that it does not decrease our portfolio by a huge margin.
If you don't hold any fiat what would you use to buy food because the grocery nearby your house won't be using bitcoin.
I had already mentioned that holding fiat to meet daily expenses would be sufficient and rest all diversified into various assets.
Gold does need space and so it would be better to hold gold bonds instead.
Real estate is another option because when the economy recovers then you can sell your property to recover your wealth.
Also, you can use your property for stay in case you don't have anywhere to go.

[abel1337]

If somehow our country get involved with this stupid wars, I would absolutely transfer majority of my money into bitcoin instantly after hearing the news. This is to protect my money and if ever I plan to flee my country, it would be easy to carry my assets with me. No way that I would still keep some of my money in banks after hearing that kind of news. Though global war will be different because I assume that it will trigger bitcoin price going up given that mostly everyone who knows cryptocurrency will transfer their assets into bitcoin and other crypto. Though I'm not sure about that since probably internet will be affected when that happen.

[Wapfika]

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?

You won’t think about Bitcoin in the event of global chaos since you will be focusing on surviving. Also you can’t use Bitcoin if everything is on chaos since you will still need to convert it to fiat if you want to use it which will surely affected once global chaos occur.

Bitcoin advantage during this event is you might secure your funds from banks collapse since you can convert it on different currencies through the use of P2P but again there’s no guarantee that Bitcoin will not be affected in actual since Bitcoin price is terribly affected when the pandemic first hits which should be not affected in theory since Bitcoin value is independent from global market.

[uneng]

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?

I think so, but we must make sure we have wide access to internet through satellite, so the destruction of the war won't incapacitate access to our money. The cons on that matter, is that we depend on the good will of some key figures of the technological sector, like Elon Musk who made internet available for ukranian forces in the war, but once they needed it for a counter-attack, he simply cut the access.

On this aspect, we are indirectly centralizing access to our own money, because if we had Bitcoin on that situation, we would be unable to access our wallets and make our transferences, sales and purchases. So we must analyze how autonomous we would be over our own BTCs in a chaotic war scenario.

After all, we would also need a decentralized satellite system or a strong trust on a centralized system that they would never foolish us for whatever reasons.

[Flexystar]

Ahh not sure why we always connect the dots of war and failed economy with the Bitcoin. That’s not how it works. If so, then we would have been holding gold coins and silver bars to trade day today stuff. Just because there is war somewhere doesn’t mean we need another currency or valuable asset to trade. That’s literally illogical. If it’s war then nothing matters, only our lives, food and water will matter.

It would be funny if you ask this question to person from Israel right, would they think about Bitcoin or their lives and way to feed their families?

Irrelevant.

[Dr.Bitcoin_Strange]

Well, having Bitcoin has always been an advantage to the holders or investors because it's an asset that doesn't devalue like physical cash, and the purchasing power doesn't weaken because 1 Bitcoin is always equal to 1 Bitcoin. So, in times of any economic crises or war, those who have the asset on Bitcoin are safe because it will not be depreciated; rather, the price can drop but will surely rise again and even grow above the investor's capital, giving him or her the opportunity to archive profit. For someone who holds all their assets in Fiat, perhaps let's say they save their money in the bank. First of all, during any critical crisis, it might even be difficult for those citizens to be able to access their money.

[inthelongrun]

It is not just Russia-Ukraine and Israel-Hamas. There's still the ongoing war in Yemen and I believe Libya is still in a state of civil war and maybe Syria although Assad is regaining the upper hand with the help of the Russians. There are indeed a lot of areas that are highly sensitive like the Korean peninsula, China and its neighbors, the Azerbaijan-Armenia issue on Nagorno-Karabakh, etc.

Bitcoin is decentralized and is not involved in any type of politics so it could become some sort of protecting our wealth like gold and other precious stuff that are valued over time.

[nelson4lov]

I think, that in case of WW III we will not need any money anymore. It will be about global instinction. At least, i hope that it will stay at local levels. In this case, bitcoin can act as a hedge against war, yeah

This is exactly my point. Most people on the thread are just going haywire with the replies forgetting that in the event of a global scale war, the relevance of any monetary item will go down to zero. So Bitcoin might not even be in the picture for most part of the war. Of course, this assumption is based on WWI and WWII.

However, A point to keep in mind is that Bitcoin was in demand in the face of a growing pandemic in 2020. It's not the same event but that's the point.

[BitDane]

I also think that Bitcoin will be useless as cash when the conflict became global.  Since there is destruction everywhere and people will prioritized their safety over their asset.  I think Bitcoin valuation is also affected by the conflict since people will prioritize food than investment during that time.

Converting all our asset in Bitcoin during the global conflict may or may not bring a good result since it will be dependent on how people will prioritize things after the war.

I think, that in case of WW III we will not need any money anymore. It will be about global instinction. At least, i hope that it will stay at local levels. In this case, bitcoin can act as a hedge against war, yeah

This is exactly my point. Most people on the thread are just going haywire with the replies forgetting that in the event of a global scale war, the relevance of any monetary item will go down to zero. So Bitcoin might not even be in the picture for most part of the war. Of course, this assumption is based on WWI and WWII.

However, A point to keep in mind is that Bitcoin was in demand in the face of a growing pandemic in 2020. It's not the same event but that's the point.

I also agree with this reply.

[Silberman]

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?

It depends on the scale of the conflict and how far or close you are to it, if you are close to the conflict then your priority should be to get away as soon as possible, and bitcoin has the advantage that you only need a piece of paper to move your coins, so it adds to your mobility, however if the conflicts that we are seeing around the world escalate and we get another world war, then probably the best store of your wealth at that point could be food and other useful stuff which can sustain yourself and your family for an indeterminate amount of time.

[blockman]

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.

I will just add here on what China is doing in our shores that they're calling it South China Sea, while our country is calling it West Philippine Sea. And they're even blocking the resupply missions of our coastguards and that's why there's a tension here as well. But I do hope that it won't happen to be a war conflict because everything can be done peacefully and talk about the situation on our waters.

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?

It's better than gold because you can just carry your recovery phrases or private keys written somewhere you're confident that won't be noticed by people. You're holding your own assets and can run away with it while you'll be able to retrieve it later on. Unlike with other assets that you need to carry and their weights are heavy like gold, jewelries, real estate, etc.

[romero121]

It is not just Russia-Ukraine and Israel-Hamas. There's still the ongoing war in Yemen and I believe Libya is still in a state of civil war and maybe Syria although Assad is regaining the upper hand with the help of the Russians. There are indeed a lot of areas that are highly sensitive like the Korean peninsula, China and its neighbors, the Azerbaijan-Armenia issue on Nagorno-Karabakh, etc.

Bitcoin is decentralized and is not involved in any type of politics so it could become some sort of protecting our wealth like gold and other precious stuff that are valued over time.

There are more number of wars going on. Think of the Ukraine - Russia war, there were heated discussion for some time period and media have forgotten it. So is the people, and now it is Israel - Palestine. Same as this we were able to see more number of wars taking place around the world. In certain things it is really impossible to reach a solution and one such is with the Israel-Palestine issue. Bitcoin is all about the decentralised functioning and not it doesn't have much of dependency over the traditional market. So, there'll be fluctuation and the same doesn't have major movements in the market.