How The Ukraine War Has Effected Crypto... So Far? - A humbling headline when you consider news today broke of 7000 Ukrainian soldiers in the 'counter-offesive', have been killed - Rumours suggest 500 to 1000 Russians have also been killed... in the last 24-hours since 9th June, 2023.
As you can read... it's time to talk about a serious topic... But let's not be too serious - I for one am sick to the back of the old nashers of all the BS happening... So serious..? No, not the fact that I haven't had a chance to shave in a week and I'm starting to look like a homeless wizard. I'm talking about the Ukraine War and its impact on cryptocurrency. Yup cryptocurrency... Always adding for the newbie's... That one non-touchy feely thing that most of the old deary folk, you and most of us, still don't really understand - Yet we lunatics on the fringe of tomorrow being broke - have invested way too much money into anyway.
The 'let's cut to the chase' bit... The Ukraine War has caused a a Tsunami of a ripple effect in the world of crypto. It's like when you throw a pebble into a pond and watch the ripples spread outwards. Except instead of a pebble, it's a war, and instead of a pond, it's the global economy... And instead of a pond, it's the whole bloody Universe being shot through a Black Hole... But you get the idea... It has not really been all that great - and a stark fact of reality - the financial world is changing quicker than a lot of you good human's think... and some are totally blindsided.
In essence what does this war mean for those of us who've invested in crypto? Well.. you see... it's a bit like that time I tried to learn how to juggle. At first, it was all fun and games. I was tossing those balls up in the air like a pro. But then I got a bit too cocky, tried to add in an extra ball, and ended up with a face full of rubber... Glad I was not on a ship full of crew or that could have been a very different gag... I digress... In this case, the extra ball is the uncertainty caused by the war. It's like investors are trying to juggle a bunch of apples with one hand tied behind their backs. And just like me and my juggling dreams, they're going to end up with a lot of bruises if they're not careful.
But it's not all doom and gloom. Some cryptocurrencies have actually increased in value since the start of the war in 2022 - It's like they're playing a giant game of tag and the ones that are "it" are suddenly the cool kids at school... Litecoin saw a slight upturn later to be given a slight boost by the new Litecoin Ordinal's - Then The U.S. Securities and Exchange Commission decided to pitch in a war of their own on Exchanges... Asshat's ruin everything they mutter nonsense about... Anyway for many Ukrainian investors and banksters, cryptocurrency has been seen as a safe haven for many escaping the war, as banks collapse within the now battered country, and people try to leave the country with some much needed financial structure to keep what cash they have left - and safe from theft.
Alas though it's not just the war that's impacting the crypto market. There's also the issue of supply and demand... Every single market has been hit hard, and surprises are almost every day now - It's like when my buddy first started doing stand-up comedy. Everyone wanted to book him because he was the new kid on the block. But then every Tom, Dick, and Harry decided they wanted to be a comedian, and suddenly there were more comedians than there were gigs... When I tried comedy the audience were so impressed that they launched thier beer at me, and threw a lot small change as tips... Crypto pot bonus! Anyway that's more than my buddy got, he just got laughed at by the crowd...
In the case of crypto... And I am very sceptical - Some are saying Bitcoin is helping to fund the Russian war machine... I do not see the billions of dollars in Bitcoin going into Russia via many wallets - Rather I do see 'Slow Walk, Fall' Joe Biden and his dirty dozen's of billions going into Ukraine... Just like a political night of stand-up comedy, the mainstream media and U.S. Administration even trying to compare the financial stats of Bitcoin Addresses in Russia to cryptocurrency and War - is only equal to the ridiculous narrative in the headliner that 'THEY' want you to see, while the actual facts are... the guy who shows up with a guitar and no jokes... Where are these mysterious Russian War Funding Wallet Addresses? I see actual EVIDENCE of Bozo Joe Biden (USA), UK, EU, UN, NATO and others, throwing way more cash actual military equipment, worth even more billions of dollar's, into Ukraine's pretty much finished government and country... Hypocrisy anyone?
So, what's the verdict? Is the Ukraine War a good thing or a bad thing for cryptocurrency? Honestly, I have no idea... It's like trying to predict the weather by licking your finger and sticking it in the air. One minute everything seems fine and sunny, the next, clouds are gathering on the horizon.
But here's the thing... Even if we don't know what's going to happen next, it doesn't mean we can't try to experience quite the unique ride in history, and plan ahead - Sad fact the whole world is being dragged slowly towards tragedy... War and crypto aside... It's been very much like being on a rollercoaster that's going up and down, and left, and right. Sure, you might end up vomiting your lunch into a nearby trash can or your wife, but it's all part of the narrative of life... Isn't it? Humanity!!!
I wanted to be lighthearted about this whole tragic war... Even in war and so much anguish, we should never lose our humility or humour as humans... We are definitely the only species on this planet that can beat up and kill each other... then laugh about it later - it's a solid fricken crazy nuts world we live on.
There also can be no doubt that the Ukraine War has caused a great deal of uncertainty in the stock markets, and interesting moments for crypto. Investors rightly are, and should be, very nervous about what could happen next - The big guns are looking for safe havens to park their money... Us useless breathing meat need to follow suit... Dogecoin? - LOL you know I do joke's right?
When there is war, and one that we could in reality OFFICIALLY name 'World War III' - there's always the extra risk that a sudden crash could wipe out your entire investment faster than you can say "HODL." It's a time for extra vigilance... And there is also sudden death... something in reality we ALL should be thoughtful of. It can come from the sky at any moment... Finished!
But heyho... Let's not dwell on the negative (I know, I'm as surprised as you are). There are also some potential benefits to the Ukraine War on the crypto front... For the Military Industrial Complex!
So my Interneters of Freedom... Remember if we all get nuked... We will all just be left with a bunch of worthless techno coins... Riding on the Surfboard of Afterlife - It's all part of the thrill, isn't it? **FACEPALM**