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Cryptocurrency—Bitcoin : a Talk in Major Sections!
Back in 550BCE, the monetary for buying the stuffs was nothing rather than gold coins "first struck on the order of King Croesus of Lydia (an area that is now part of Turkey)" (source: Gold.org). On the other hand, the form of currency varied from culture to culture in ancient times. Andrew Beastie in Investopedia says, "The history of money crisscrosses the world as various cultures recognize the need to simplify trade by introducing a single, portable token of value into the process." He later claimed that coins minting which began striking spade coins around 640 BCE. Since then, banknotes were adopted by world and moved into digitized forms of payment, including virtual currency. Later, the introduction of paper and Plastic currency revolutionized the purpose of traders and brought into existence the virtual currency we know as "CRYPTO". Cryptocurrency is in digital form that is not overseen by a central authority. The first crypto currency was "Bitcoin", created by an anonymous computer programmer or group of programmers known as Satoshi Nakamoto, in 2009.
ADVANTAGE AND DISADVANTAGE:
Rashmi Priya Sharma and Arabinda Sharma in their research work on using cryptocurrency and the associated challenges describe several advantages and disadvantages of using cryptocurrency. The advantage and disadvantages related to use of bitcoin are summarized below:
ADVANTAGES:
• It is easy to set up and it is fast.
• Low and irreversible transaction fees.
• There is no central authority or any financial
institution to lead charge (possible
disadvantage).
• It is more better form of digitalization of
financial transaction as compared to online
transfer though banks, credit card, ATM etc.
• It can be used in all countries across the
globe.
DISADVANTAGES:
• Illegal activities, speculations and nature of
this currency-Anonymity and relevant theoretical base as a digital currency is
blurred.
• Uninvestigated financial product-Regulation
and taxation issues are not clear
• Undefined legal status-Full of illegal and
questionable activity, disputable status of
independent and decentralized currency.
Illegal or undefined in most countries of the
world [13].
• Highly volatile value and an unknown issuer.
• Skepticism towards implementation of
new, unregulated, theologies in finance
sphere.
• Unregulated commodity and absence of
consumer protection.
• Risks- theft, loss of key, hacking, value
collapse.
• Mining problems-algorithm behind issue
and purchase of bitcoin is not fully explored.
Furthermore, wars push currency's into deficiency, there are factors behind it: uncertainty; decrement in Investor's confidence; and potential trade disruptions. These all together cause instability in a nation's economy and weakened its financial standing making the currency that country hold low attractive for the investors. However, what effects will be upon the cryptocurrency when war breaks out between two or more than two nations such as, Russia and Ukraine war, War between Pakistan and India and The recent, within this month, a 12 days war between Iran and Israel including intervention of The USA. Let's go through the probability of stability and instability!
For a two nation war, I have already written a work you can check out through the link mentioned.
( Thread 'International strife and its effects on crypto' https://forum.windice.io/threads/international-strife-and-its-effects-on-crypto.5354/ )
Viewing Historical Events and The Affects on Cryptocurrency:
There have been wars and pandemic events in the world after the high value of cryptocurrency, affecting the stability and sometimes being beneficial to the cryptocurrency.
Iran-Israel War and USA Intervention and Bitcoin:
In the recent trio war, mainly between Iran and Israel, having backup by USA; the America's strikes on Iran's nuclear facilities, drew back the value of Bitcoin from around $106k to around $103k (some suggest it dropped to around $98k). However, CRYPTO's characteristic to recover quickly, BTC again started gaining its value from Sunday after USA's strikes, now reaching to around $107k.
COVID-19 Pandemic:
March 2020, saw the deepest stock market crashes in history. On march 16, 2020, the Dow Industrial fell by nearly 35 percent marking its worst point drop ever on a single day. Bitcoin too was hit by the pandemic coronavirus in the March 2020; losing nearly 41 Percent of its value in 7 days.
Ukraine-Russia war
Russian invasion in Ukraine on February 22, 2022, the crypto, Bitcoin, "as a 'safe haven' argument seemed to briefly bear fruit" (Mooloo.net news, 2025). Following the invasion, price of Bitcoin (BTC) jumped over 18 Percent from around $37k to around $44k. During the time, Dow was largely unaffected.
What will Bitcoin do during War and Calamity:
Through reading the Mooloo.net news, I found some interesting facts. I will be providing in-text references in the piece about this I'm writing downward!
One could see, the Bitcoin's price during the coronavirus and Russia-Ukraine moved with Great Volatility in either direction: former causing Loss and latter causing Profit. "COVID-19 was a downfall to the BTC's price, while Ukraine invasion triggered it up", says Mooloo.net news, 2025. A question can rise, that do military escalation in a region continuously keep impacting the Bitcoin's price? As the previous studies suggested, "Volatile movement in the immediate aftermath of a specific event, and then a rapid return to pre-event prices" (Mooloo.net News, 2025) as can be seen, the price of BTC was around $106k, when USA striked Iran, it dropped to below $100k ( $102k) respectively, however, after the Ceasefire, the price leapt over around $107k.
Conclusion:
In order to keep a safe bank of your net-worth, in war-like situations, keep putting your money in forms of crypto currency. Over past few years, the high volatility of crypto is the evidence of crypto currency being a "safe haven". And this is because of cryptocurrency, there are a lot of people getting amazing hustle businesses and works money to use them productively in their slow going lives and boost the living standards.
Back in 550BCE, the monetary for buying the stuffs was nothing rather than gold coins "first struck on the order of King Croesus of Lydia (an area that is now part of Turkey)" (source: Gold.org). On the other hand, the form of currency varied from culture to culture in ancient times. Andrew Beastie in Investopedia says, "The history of money crisscrosses the world as various cultures recognize the need to simplify trade by introducing a single, portable token of value into the process." He later claimed that coins minting which began striking spade coins around 640 BCE. Since then, banknotes were adopted by world and moved into digitized forms of payment, including virtual currency. Later, the introduction of paper and Plastic currency revolutionized the purpose of traders and brought into existence the virtual currency we know as "CRYPTO". Cryptocurrency is in digital form that is not overseen by a central authority. The first crypto currency was "Bitcoin", created by an anonymous computer programmer or group of programmers known as Satoshi Nakamoto, in 2009.
ADVANTAGE AND DISADVANTAGE:
Rashmi Priya Sharma and Arabinda Sharma in their research work on using cryptocurrency and the associated challenges describe several advantages and disadvantages of using cryptocurrency. The advantage and disadvantages related to use of bitcoin are summarized below:
ADVANTAGES:
• It is easy to set up and it is fast.
• Low and irreversible transaction fees.
• There is no central authority or any financial
institution to lead charge (possible
disadvantage).
• It is more better form of digitalization of
financial transaction as compared to online
transfer though banks, credit card, ATM etc.
• It can be used in all countries across the
globe.
DISADVANTAGES:
• Illegal activities, speculations and nature of
this currency-Anonymity and relevant theoretical base as a digital currency is
blurred.
• Uninvestigated financial product-Regulation
and taxation issues are not clear
• Undefined legal status-Full of illegal and
questionable activity, disputable status of
independent and decentralized currency.
Illegal or undefined in most countries of the
world [13].
• Highly volatile value and an unknown issuer.
• Skepticism towards implementation of
new, unregulated, theologies in finance
sphere.
• Unregulated commodity and absence of
consumer protection.
• Risks- theft, loss of key, hacking, value
collapse.
• Mining problems-algorithm behind issue
and purchase of bitcoin is not fully explored.
Furthermore, wars push currency's into deficiency, there are factors behind it: uncertainty; decrement in Investor's confidence; and potential trade disruptions. These all together cause instability in a nation's economy and weakened its financial standing making the currency that country hold low attractive for the investors. However, what effects will be upon the cryptocurrency when war breaks out between two or more than two nations such as, Russia and Ukraine war, War between Pakistan and India and The recent, within this month, a 12 days war between Iran and Israel including intervention of The USA. Let's go through the probability of stability and instability!
For a two nation war, I have already written a work you can check out through the link mentioned.
( Thread 'International strife and its effects on crypto' https://forum.windice.io/threads/international-strife-and-its-effects-on-crypto.5354/ )
Viewing Historical Events and The Affects on Cryptocurrency:
There have been wars and pandemic events in the world after the high value of cryptocurrency, affecting the stability and sometimes being beneficial to the cryptocurrency.
Iran-Israel War and USA Intervention and Bitcoin:
In the recent trio war, mainly between Iran and Israel, having backup by USA; the America's strikes on Iran's nuclear facilities, drew back the value of Bitcoin from around $106k to around $103k (some suggest it dropped to around $98k). However, CRYPTO's characteristic to recover quickly, BTC again started gaining its value from Sunday after USA's strikes, now reaching to around $107k.
COVID-19 Pandemic:
March 2020, saw the deepest stock market crashes in history. On march 16, 2020, the Dow Industrial fell by nearly 35 percent marking its worst point drop ever on a single day. Bitcoin too was hit by the pandemic coronavirus in the March 2020; losing nearly 41 Percent of its value in 7 days.
Ukraine-Russia war
Russian invasion in Ukraine on February 22, 2022, the crypto, Bitcoin, "as a 'safe haven' argument seemed to briefly bear fruit" (Mooloo.net news, 2025). Following the invasion, price of Bitcoin (BTC) jumped over 18 Percent from around $37k to around $44k. During the time, Dow was largely unaffected.
What will Bitcoin do during War and Calamity:
Through reading the Mooloo.net news, I found some interesting facts. I will be providing in-text references in the piece about this I'm writing downward!
One could see, the Bitcoin's price during the coronavirus and Russia-Ukraine moved with Great Volatility in either direction: former causing Loss and latter causing Profit. "COVID-19 was a downfall to the BTC's price, while Ukraine invasion triggered it up", says Mooloo.net news, 2025. A question can rise, that do military escalation in a region continuously keep impacting the Bitcoin's price? As the previous studies suggested, "Volatile movement in the immediate aftermath of a specific event, and then a rapid return to pre-event prices" (Mooloo.net News, 2025) as can be seen, the price of BTC was around $106k, when USA striked Iran, it dropped to below $100k ( $102k) respectively, however, after the Ceasefire, the price leapt over around $107k.
Conclusion:
In order to keep a safe bank of your net-worth, in war-like situations, keep putting your money in forms of crypto currency. Over past few years, the high volatility of crypto is the evidence of crypto currency being a "safe haven". And this is because of cryptocurrency, there are a lot of people getting amazing hustle businesses and works money to use them productively in their slow going lives and boost the living standards.
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