i just watched the Civil War 2024 movie, quite scary if it happens where you are in the middle of the wars of groups you don't wanna join.
there's a scene in the movie where they tried buying gas which when they said they have Canadian Dollar and the group of individuals who ruled that place accepted the money. it looks like Canadian Dollar is still sought after. i hoping to see crypto wasn't introduced there but none.
if we are in this kind of situation where the electricity is still on like its normal situation still and internet is accessible, wouldn't it make sense for the warlords to accept BTC and other crypto?
I live in Ukraine, and I know firsthand what war is like. I also have many friends and acquaintances who lived or had to live in the occupied territory or the territory destroyed by terrorist troops of a neighboring country. So I will tell you how it is in reality:
- Few people are interested in risky, illiquid assets. Everyone is interested in dollars, euros, gold, etc. assets that can be used to buy or exchange food, medicine, etc. goods
- The occupation authorities are always totally restricting and controlling all data channels - in occupied DNR, LNR, Crimea - all communication is totally controlled (from wiretapping to blocking data transmission), protocols are blocked (all messengers that are difficult to control are banned). For violation or attempts to bypass - very severe punishment, up to death.
- In destroyed villages and towns, there is no communication at all, and often no electricity.
- Banking systems, card accounts and transactions do not work. You simply will not be able to convert cryptocurrency into physical/fiat assets.
Therefore, in such situations - assets that are difficult to use and do not have high guaranteed liquidity and stable price are unlikely to become a substitute for stable currencies and gold.