Why the Ukraine/Russia Conflict Could Change Everything for Crypto and the World

Ukraine and Russia

Mark Helfman

3 months ago|4 min read

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Hey it’s mark. I wanted to address the situation in ukraine really quickly as it pertains to bitcoin. I understand that uh.

Some of you guys are wondering about my viewpoint on the actual conflict itself. I know better and i know that there’s nothing. I can say.

That’S not going to make somebody mad and at the end of the day, people are generally are asking about uh crypto, so you know uh shut up mark. Nobody wants to hear what you think about geopolitics, about war, peace or whatever tell me about crypto. So i’ll.

Just tell you about crypto and um at some point once things calm down when things die down, and maybe if i get to the point where i feel like i’m established enough, that i can take the unsubscribes, the hatred and all the comments that people are going To get about it, then, maybe i’ll start talking a little bit more about global politics every once in a while. I mention covid, because i know it’s it’s a macro event. I mentioned it in my monthly.

Usually it’s just a few sentences. I’Ve only done it. A few times every single time, people go like crazy about it, and i just don’t want to i mean look human tragedy when it comes to human tragedy, i’ll just i i’ll just.

I have my own thoughts about that and i’m going to keep that separate from what this video is about, which is about what the ukraine conflict might have, what how that might affect crypto as far as um price go up totally relevant, totally irrelevant. This is so much bigger than that. It is so much bigger than that and at the end of the day, whether or not the price goes up has nothing to do with conflict war, peace.

I talked about this in my monthly update. It is solely a matter of whether or not people think that they will be better off having and money as bitcoin, putting wealth, money, time, effort and other things, not just bitcoin, all the other cryptocurrencies do they do people feel like they’re, going to be better off And if they do it, and then they end up better off other people will decide. Oh well, i might be better off.

If i do this as well, and so that’s kind of how you i mean you can simplify to just value right if there’s value and then it creates a network effect, things will be fine, but as far as but there’s a bigger there’s something bigger going on Here and it’s really fundamental to, i think, the evolution of finance and money and the flows of money in the 21st century, which is – and i just want, think about it. This way, you have two sides of the same conflict who are both finding ways to go beyond the legacy financial system that legacy financial system that the west has created. Basically, it has its roots in in post-world war ii, and it’s persisted for a long time.

It’S very effective in a lot of ways, it’s very good in a lot of ways. It’S bad in some ways too, as with everything in life, and so there are some weaknesses that are being addressed by cryptocurrency, we’ll see how it shakes out in the end. But you have to recognize that even just by ukraine, ukraine and russia are both using crypto to in in different ways but they’re using crypto to um to change the financial dynamic around the conflict in their in each of their own favor.

So what happens when they succeed? What other ideas come from that? What what inspiration does that have for other people, policy makers, people in power developers? I we know that there are a lot of people who they they they’re very sympathetic to ukraine, and so what happens now you have people in ukraine they’re starting to use crypto they’re, accepting bitcoin donations, they’re accepting stable coin donations contributions. Well, what about services that pop up to make it easier for the ukrainians to use those those this technology, make it easier for the ukrainians and other people who want to also contribute make it easier for them to do that? And then you start to build this whole new infrastructure, that’s already underway it’s and it goes beyond web3. It goes beyond d5, because you’re talking about real operational people, thinking about the operational aspects, how to make this stuff real, how to make it not cost 200 to run a single smart contract operation, how to not force people to go into these other systems.

That are great they’re, great they’re on their own terms, but they balkanize and fracture and and segment and fragment the um, the the economies that are being created with cryptocurrency and somebody solves that problem and somebody solves another problem, and this becomes really the the first iteration Of a truly valid and effective implementation of cryptocurrency – and that could happen that could happen because the necessity is there and an urgency. Is there in a way that really hasn’t existed? Yet that’s going to be, i think, the story that i’m going to be paying attention to and it’s going to play out over months and years. But that is, i think, what if anything, is going to be worth taking away from this moment and if cryptocurrency can deliver on its promise.

The promise that a lot of people have that now you have a form of money that is unsensible all the tools of finance that was for historically for hundreds of years reserved for the rich, the powerful and the well-organized and the well-connected. And now every single person has the power of, though, all those tools of finance they have them in their hands. They have them on their cell phone, they have it on their laptop.

If that succeeds, it’ll change everything relax and enjoy the ride.

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Mark Helfman

Hi, I'm Mark Helfman, a Medium top writer for bitcoin and investing topics and publisher of the Crypto Is Easy newsletter, one of Substack's largest cryptocurrency publications. A 2020 and 2021 Noonie award nominee, I contribute my works to Hacker Noon, Luckbox, Cryptowriter, CCN, The Startup, Blockchain News, Data-Driven Investor, The Innovation, The Capital, and several other publications. My second book, Bitcoin or Bust: Wall Street’s Entry Into Cryptocurrency, hit #2 on Amazon’s list of short financial reads and remains a top-50 on BookAuthority's list of top cryptocurrency books.

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