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Crypto check: Bitcoin dips after nuclear plant fire and Russian sanctions

Bitcoin concept on digital Screen

da-kuk/E+ via Getty Images

Bitcoin (BTC-USD) slipped to just below $41K after reports that a Ukrainian nuclear plant, Europe's largest, was on fire early Friday local time after shelling by Russians.

In recent trading Bitcoin (BTC-USD), the largest

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SA-NJ52 profile picture


But the last thing I want to happen to my FakeCoin derivative holdings is that it becomes cash

Once BitCoin is perceived as cash instead of a limited supply of nothing that trades like a commodity, the price will collapse.

The US dollar does not rise and fall by the second the way BitCoin and the other FakeCoins do.

Once it is cash, there is no need to hide it under your digital mattress.

So long as it is used by Pornhub, the Pizza Hut in Venezuela and Russian hacker terrorists, it is not cash.

See my previous posts on Musk and El Salvador that explain this in more detail.

Electricity is the key ingredient for all cryptocurrencies. The fear of of the Russian army taking out the largest nuclear plant in Europe could be a factor in Bitcoin's drop. Just thinking out loud.
At the end of the day you have to convert it into $. Decentralised my arse.
@Ken Kenan Oh my. Please do some basic research on what Decentralized means with regards to BTC.
@Ken Kenan if you travel to El Salvador you won’t need to exchange anything. Soon the entire world will be accepting BTC
ThreeDayCondor profile picture
@All-in-MSOS — but at what exchange rate?

That’s the question. I predict below $10,000 per coin by year end 2022.

Cheers. Some store of value.
Bitcoin intrigued me for having tremendous appeal and benefits to countries/and or persons that 1). wanted to eventually move away from the dollar 2). countries that want to avoid the potential of being sanctioned out of existence for diplomatic reasons and 3). normal citizens that would use it as a “store of capital” in times of inflation, deflation, terrible Monetary Policy etc. For me these were are all good logical reasons to invest in Bitcoin…however, after watching current world affairs it’s obvious that IF the US Government, with or without Allies directs Coinbase, Square, crypto.com to “not do business” with a person a country …then there goes the autonomy and safety of Bitcoin!🤷‍♂️. Am I missing something, I mean, why would it become a “global” must have commodity if it’s not a safe-haven from the dollar or the guys that print the dollar?? No thanks, I’m sticking with the dollar because the guys that make the rules back the dollar! Call it Redneck Logic …but it’s safe and it’s been working for a couple hundred years!😂🤷‍♂️
@Goody73 Your dollar earned one year ago is now worth approximately only $.92. You can’t “see” that in your account, because it still shows up as a dollar in your account, but your purchasing power is reduced because the goods you want to buy cost more.
The guys you are trusting printed $7T of money in the last 2 years or so. They didn’t create actual paper money, but they just “created” digital dollars and deposited them into Americans banks accounts overnight.
And now your guys don’t understand why we have the highest inflation in 40 years in this country. (Insert “palm to face” emoji here).
@Paul Woodford I understand the complications and consequences of the Fed printing of money …and frankly, I’m in no way expecting a soft landing. That said, I’m still not convinced that Bitcoin is the lifeboat that’s going to save you (especially when it’s quoted and exchanged off of the dollar). Notwithstanding, I can’t imagine a scenario where the US Government will ever allow Bitcoin to diminish or Userp the desired effect of “Economic Sanctions”…which happen to be the single-most effective diplomacy tool in their diplomatic war chest short of War!🤷‍♂️

You heard if from here…Get out of Bitcoin before u’re left with the Bag…
SA-NJ52 profile picture
We need to recognize that if FakeCoins are here to stay then they need to be properly regulated so Kommissar Putin and other terrorists cannot skirt rules.

The BitCoin groupies say that BitCoin is cash. If so, then it needs to be regulated like cash.

The Treasury Calls for Crypto Transfers Over $10,000 to Be Reported to IRS.

This Proposal included in report on Biden IRS enforcement plan.

Administration says tighter enforcement will boost tax revenue


@gandc well said!!
SA-NJ52 profile picture

Thanks. Compliments are few and far between on SA.

@gandc it’s completely reasonable and logical. But like you said, most BTC groupies will be outraged and offended at the mere thought of sensible regulation.
Maybe Trudeau could freeze Putins crypto assets.
BTC is down because a Ukrainian nuke is burning? Really?
@Jim_Berger I farted. Bitcoin is down.

I sneezed. ..bitcoin is up.
@Jim_Berger "after" =/= "because"
putin's main source of income is Bitcoin... Based on Crypto philosophy it would be wrong to censor Putin so he can stop his war crimes.
Lets see the source for these allegations. Love the energy out of this conspiracy theory!
Look for Putin to use Cryto
"Bitcoin (BTC-USD) slipped to just below $41K after reports that a Ukrainian nuclear plant, Europe's largest, was on fire early Friday local time after shelling by Russians."

Is this an attempt to suggest correlation?
@gc03 When the entire world of finance is based on how much QE got injected that month it gets harder to manufacture a reason for what swings it.

This would work better, "Fed turned off the printer and decided to raise rates a quarter percent today, so bitcoin went down $3,000 from $44,000"

Equally could be said about every single stock ticker today "X stock went down X amount because the fed is tired of propping up the entire economy on hopium"
Crypto is dipping because....

Who knows!

These worthless digital tokens were conjured out of thin air by profiteering technologists, aided and abetted by greedy bankers.

Key takeaways:

(1) not backed by any government
(2) generate no cash
(3) aren't tethered to the economy
(4) unlimited supply *
(5) massive regulatory risk
(6) no important use cases

What are they good for?

(a) rank speculation (gambling)
(b) illicit activity
(c) evading sanctions (when access to f/x markets is cut off)

The governments of the world are mobilizing to quash the spread of crypto.

They will succeed.

The window to convert FAKE MONEY back into REAL MONEY is closing.

100% downside

* While the supply of each cryptocurrency is limited...all 10,000 species of tokens are essentially identical: fungible bytes of fairy dust! Anyone, anywhere, at any time can conjure coins - in 10 minutes, for free. This "illusion of scarcity" underpins all Satoshi schemes.
04 Mar. 2022
@Amos Tuck wrong, don't worry we don't need you in Bitcoin either. If there was ever a time to shut down Bitcoin it would be right now as the governments worldwide are sanctioning and seizing everything and even considering banning Russian oil, key word "considering". Why are they not stopping Bitcoin before oil? You anti-math, I mean anti-Bitcoin group will cut off your noses to spite your face most likely because innovation and forward thinking is impossible for you. Bank runs have already begun and it will be laughable what you do to respond to the falling dominoes. Everytime the speculators sell their Bitcoin position there are new adopters now including innocent Russian and Ukrainians who had no knowledge of it 2 weeks ago
johnx4x profile picture
@Amos Tuck bruh. I got $530,000 in just and only bitcoin.

In two years, you'll end up buying a bitckin fraction

(a) No you don't.
(b) No I won't.

Your Bitcoin is worthless, and you are * definitely * out of your depth.

Trust me on this.
ls1gto profile picture
“some ordinary Russians are using crypto as a lifeline" as the ruble collapsed”

Yeah okay. Like they can go to a store and buy groceries with crypto in Russia. Not to mention that crypto has been just as volatile if not more so than ruble.
As long as Putin is alive, Russia should be removed from the United Nations Security Council.
WD216 profile picture
@LEE64 Your idea would only escalate things more. Why everyone wants to back Putin in a corner so he has only one option left is beyond comprehension. Do I have to spell out his final option?
@WD216 - It is a nuclear option, indeed.
herewegoagain2016 profile picture
@WD216 Technically, everyone who posts here has to spell everything out.
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