Conflict gives Bitcoin an opportunity, the traditional perspective goes – but in the current world of conflict, it could well be argued that economics are being overlooked, and that Bitcoin’s real spotlight will be illuminated when peace returns and money becomes a talking point once again.
In a speech at Coin Congress in May, Roger Ver noted that governments’ ability to wage war in this century has been determined by an equal ability to print and use fiat currency at will. “With Bitcoin,” Ver said, “because there is a limited supply, that sort of thing can’t happen.”
Indeed, the conflict points making headlines today – Ukraine, the Middle East and increasingly Hong Kong – are doing nothing to reduce the already heavily indebted economies of its participants, irrespective of the significance of their role. The US, in terms of financial cost, is an obvious example, as are EU states supporting action in both conflict zones, not to mention those states directly involved in the fighting… CONTINUE