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How will crypto currency be worth anything in war time?

Say war broke out and the major players (US, China, Russia, UK, Japan... etc) gets involved.  The first thing any side would do before using destructive weapons would be a cyber attack to digitally cripple the other side.  After that they will take down the power grid.  No network and no power so how can you barter then?  Printed money would likely plunge via hyper inflation.  You can still buy a bottle of water for $50 but your bitcoin is useless if you can't get to it.

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most likely monetary value wont have any influence in society.

Instead people will use goods for services and services for goods or goods for goods WTT/WTS/WTB 😄

 

In any case, in a scenario like that Id go for creating my own coin as warcoin

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I can tell you that the economy would freeze in such a scenario and nobody would care about the number of digits in your Bitcoin account, because in this scenario people would be struggling to survive and there would be riots if government doesn’t step in and even then there will be turmoil. People would want to buy Bitcoin for a safe investment, but more significantly people would also want to convert into local currencies so they can stock up on goods, devaluing crypto. But such a scenario is not likely enough to be with contemplating.

 

 

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28 minutes ago, Doug_Dangger said:

You can still buy a bottle of water for $50

Most likely not, banknotes dont work when economy falls apart either.

 

only advantage with traditional currency is with using vending machines, banknotes as fuel and coins as scrap metal.

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2 minutes ago, Jurrunio said:

Most likely not, banknotes dont work when economy falls apart either.

 

only advantage with traditional currency is with using vending machines, banknotes as fuel and coins as scrap metal.

People in Germany were able to buy a loaf of bread for a wheelbarrow of money  😄

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all these answers are assuming war time will be the same as it was in the past. in the context of now if war hit the west we have things like nuclear warheads now. We have drones , different planes, different type of marine craft, we have AI being developed, and many possibilities now with advanced computing. there's really no telling what becomes valuable or not. We may have an Idea Based on the places that recently went to war but you can see their money becomes virtually worthless as well.   crypto is valuable because we as humans put value into old world currency like how paper and our money with the bank that if I break it down is just a number tied to my name and I know that I have by going to an app on my phone that tells me how much liquid money I have 

Feel free to send me a DM for further or general questions.

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Well, paper money won't be much use either, nor would credit cards, bank transfers, etc.

 

The currencies of a SHTF scenario are the same as they always have been throughout the ages: food, water, skills, and weapons.

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20 minutes ago, anodos said:

Well, paper money won't be much use either, nor would credit cards, bank transfers, etc.

 

The currencies of a SHTF scenario are the same as they always have been throughout the ages: food, water, skills, and weapons.

Oh snap, I guess arts and ethnic studies majors are screwed.  LOL!

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9 hours ago, Doug_Dangger said:

Oh snap, I guess arts and ethnic studies majors are screwed.  LOL!

I get your point, but a lot of STEM people are too. A degree in math, biology, computer science, physics, etc isn't going to help either when there's no food. Of course, anyone of any background can learn useful skills. The kind of skills that would be useful for bartering would be being able to do shoe and clothing repairs, medical training, carpentry, welding, ammo reloading, tool making, etc. Anything that can help the people doing the farming and the hunting, because they will be the ones with the food, so they will be the ones the non-farmers and non-hunters will have to trade with. 

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  • 2 weeks later...

Finally someone brought this up. Crypto would have a zero value, it is not a asset nor is it used for anything of substance. Crypto is a suckers bet that is why the creator of bitcoin is not known. In the end its a financial trap for the west for when war breaks out. Silver is where the smart long play would be.   

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8 hours ago, DScience said:

Finally someone brought this up. Crypto would have a zero value, it is not a asset nor is it used for anything of substance. Crypto is a suckers bet that is why the creator of bitcoin is not known. In the end its a financial trap for the west for when war breaks out. Silver is where the smart long play would be.   

Well as has been brought up in the above responses a lot of things other than crypto will be worthless if war breaks out. Your silver only helps if 1) you own a physical bar, not an IOU and 2) you have means of trading with it that is not 1 bar == 1 loaf. If it gets bad enough you'll trade in whatever is useful to trade in and a can of soup might be infinitely more valuable than a chunk of silver.

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