Quote from: lixer on February 25, 2022, 05:23:19 AM

Quote from: pinggoki on February 24, 2022, 11:46:32 AM

Quote

Why is bitcoin losing value at a time of conflict? Isn't it intended to do the opposite?

Pretty simple, if you're from a region that has conflict, you're better off with fiat than bitcoin so you trade that bitcoin for fiat and hopefully it would be enough for you to survive for awhile at least until the aides and help come which might take a long time because in a war, most resources are focused on offensive and defensive efforts of the country.

Yeah you made the point, someone who is in an area where there is conflict would prefer to have cash at hand and not Bitcoin. Because majority of the things that you will have to do would require you making payments in cash, in fact 99% of things that you would be doing at that moment would require cash or Fiat to make the payment.

So, Bitcoin wouldn’t really be of much use to anyone that is in such position, so they would prefer to sell all the bitcoins or most of the bitcoins that they have if not all, so that they can have more cash to deal with whatever problem that they might encounter during that moment.

You got the point. Not everyone has accepted bitcoin and it might be difficult to pay using bitcoin for every purchase.
The latest Russia-Ukraine has resulted in the global crypto cap sliding to as low as $1.57 trillion, losing 9.66% in 24 hours.