Post
Topic
Board Bitcoin Discussion
Re: This Ukraine issue has me thinking a lot. In a crisis, how valuable is bitcoin?
by
Russlenat
on 06/03/2022, 16:33:29 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/
Well, your bitcoin would be inaccesible since bitcoin requires internet and a mobile phone. You could no longer exchange it for goods and services or physical currencies. The only thing you can do is to move out to another country where there is no conflict in order for you to survive, or just seek some help.

Good point! Your bitcoin is really completely and entirely worthless if that's the case, processing your crypto into fiat or paying some needs via crypto definitely need some internet to make it through the other end of transaction. Your only choice is to move yourself into a place where it is safe and you can freely use your bitcoin, in-short move out to a different country. But you definitely need some cash on-hand to pay the services you needed for you to move out and the OP said that you don't have any cash and only have a phone and hardware wallet. So yes, the best thing to do is to get some help.