Ukraine crisis, push Bitcoin up?

[Ribenapigeon]

So I noticed Btc seems to be strengthening as the crisis deepens. Could this be in response to the crisis?

[RhynoCZ]

I don't think so, I think it's got much to do with the end of the MtGox and the effort of rest of the market to support the currency, so they'd make the Btc atractive again.
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[Tungtvann]

The UK has also scrapped tax on bitcoins, that may have had an effect.

[The Artist]

There was a lot of other bitcoin news about Gox and UK tax breaks and even announcements from the bitcoin foundation.

[Ribenapigeon]

Could crisise like the Ukraine one influence Btc though? The Rouble has dropped so why not see an effect on Btc? After all if Btc is a legitimate currency surely you would expect to see its value respond to political events?

[RhynoCZ]

[Ribenapigeon]

[RhynoCZ]

If I got the idea right, the Btc is not used in international trade, in the classical sense of the term, which means it should not be influenced by these kind of events. Well, maybe if a such thing influenced some big players, then it possibly could do what you're implying. The moment they start using Btc to pay for large strategically important commodities, it'll be like a ''real life'' currency. Then it could be easily influenced by anything really.

But I might did not understand the whole bitcoin thing at all.
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'87 Honda XBR 500, '96 Kawasaki ZX7R P1, '90 Honda CB-1, '88 Kawasaki GPz550, MZ 150 ETZ
'95 Mercedes-Benz w202 C200 CGI, '98 Mercedes-Benz w210 E200 Kompressor

[GhostRider]

Well herein is a classic lesson in why correlation !== causation.

If there was anything related to their economy going on then possibly, but even then I'm led to believe Ukraine is a pretty poor country so not sure if they would be buying up enough btc to make any kind of significant impact.

Now when Cyprus shut down their banking system - THEN there was a real increase in BTC (possibly the catalyst for where it is today, maybe because it showed a real world utility for it other than use on silk road etc), and its pretty easy to see why in that instance.

GhostRider
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[anthony_r6]

Bitcoin is probably recovery from the incident they had recently. It's pure coincidence of any correlation between bitcoin and the Russia/Ukraine issue.
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