Post
Topic
Board Bitcoin Discussion
Re: The state of Bitcoin during the war between Russia and Ukraine
by
Mauser
on 28/02/2022, 09:24:33 UTC
Russia is shutting down Western airspace where everything is being cut off from them they are fighting BTC and working with BTC to legalize the country because where their central bank is closed they are working to legalize Bitcoin in the country as an alternative to Takhra instead of currency. Can use bitcoin.

Bitcoin is a good alternative to traditional fiat money. Especially if people want to support Ukraine from abroad, then bitcoins is a quick way to pool money from all around the world to send to Ukraine. There are two issues which could be a problem. First, Russia might target the Internet infrastructure and tries to jam the access from abroad. Without working Internet it's hard to deal with bitcoins, and you always need to convert it to fiat money. That is probably why so many countries send goods and weapons directly, like medical supplies and fuel. With large amounts of money it might be hard for Ukraine to purchase things. The second issue is that there are fake donation requests to help in Ukraine. With bitcoins there is only a small chance to recover funds that have been send to a scammer.