Post
Topic
Board Bitcoin Discussion
Re: This Ukraine issue has me thinking a lot. In a crisis, how valuable is bitcoin?
by
teosanru
on 06/03/2022, 13:40:57 UTC
Assume you must evacuate your house during a wartime situation. You don't have any cash, but it's been depreciated owing to previous occurrences.

You, on the other hand, have your phone, hardware wallet, and seeds. You're in a nice mood.

The internet and cellphone networks then fall down.

How do you intend to use your bitcoin? Is it completely worthless?


Seeing a lot of news lately like: https://mycryptoparadise.com/ukraine-suspends-electronic-bank-transactions-following-its-unrest-with-russia/
For immediate payments and liquidity yes it is useless, if you compare it with gold or diamonds at this point even they would be useless because you don't have a diamond merchant who can buy them from you. But in the longer run networks, internet and electricity will come back live again, so as a store of value you definitely are leaving with something concrete and valuable not just something useless. For the time being you can say it might not help you getting out of that situation.