tastytrade logo
Cryptocurrency Vs Fiat Currency

Mar 4, 2022

War, What Is It Good For?

By:Josh Fabian

Watch more episodes of Sosnoff & Ratigan: Truth or Skepticism

The idea we would see another conventional war in our lifetime was a low probability event. Global interdependence and as Thomas Freidman described it, a “flattening of the world,” all but seemed to have removed the threat of another large scale war. But here we are. And there are few things man does better than create new instruments of death which makes the horrors of the current situation all the more devastating.

Defining Moment for Decentralized Finance (DeFi)

However, commenting on the politics of what’s happening isn’t what we’re here to discuss. Rather, in this forest fire of destruction, we’re looking for the green chutes that will inevitably grow. Specifically, we’re looking at what we believe could be a defining moment for DeFi.

The idea of decentralized finance was mainly an abstract, theoretical concept at best just as recently as a week ago. We knew it somehow involved utilizing blockchain technology in a way that would remove middlemen to conduct financial transactions and the fees they collect along the way. We knew it could speed up the process of getting money from one side of the world to the other. But how the practical application of the theoretical concept would actually play out was anyone’s guess.

Cryptocurrency Vs Fiat Currency

Over the course of the last week, we’ve seen a spike in many crypto assets. Despite being well off their highs of last year, crypto assets became a “safe haven” investment when equity prices began tumbling. Until now, crypto was largely seen as an asset for speculation and not much more. But now we’re seeing a number of fundraising campaigns using crypto to purchase “guns and butter” for Ukrainians.

One of the biggest questions plaguing crypto has been, “what does it solve for?” We’re getting that answer in real time. With ATMs largely non-functional in Ukraine and Russia; banks closed or destroyed; and all access to fiat currency severely limited at the moment, crypto has been given its moment. It has been able to act as a currency for those in need. And while the circumstances under which it has been given its moment are horrific, it’s difficult to imagine when all this ends anyone wanting to go back to more traditional fiat currencies and the numerous encumbrances that come with them.

At a humanitarian level, war is heartbreaking. It is devastating. There are no winners, there are just those who lose less. At an economic level, war often does have winners. In the more traditional sense, natural resources and goods that can be sold to markets have been the spoils. But in the first conventional European war of the 21st century, the biggest winner may prove to be cryptocurrency.

Written by Dylan Ratigan and Josh Fabian

Interested in trading cryptocurrency? Open an account on tastyworks today! 
tastyworks, Inc. and tastytrade, Inc. are separate but affiliated companies.


Options involve risk and are not suitable for all investors. Please read Characteristics and Risks of Standardized Options before deciding to invest in options.

Related Posts

tastytrade content is provided solely by tastytrade, Inc. (“tastytrade”) and is for informational and educational purposes only. It is not, nor is it intended to be, trading or investment advice or a recommendation that any security, futures contract, transaction or investment strategy is suitable for any person. Trading securities can involve high risk and the loss of any funds invested. tastytrade, through its content, financial programming or otherwise, does not provide investment or financial advice or make investment recommendations. Investment information provided may not be appropriate for all investors, and is provided without respect to individual investor financial sophistication, financial situation, investing time horizon or risk tolerance. tastytrade is not in the business of transacting securities trades, nor does it direct client commodity accounts or give commodity trading advice tailored to any particular client’s situation or investment objectives. Supporting documentation for any claims (including claims made on behalf of options programs), comparison, statistics, or other technical data, if applicable, will be supplied upon request. tastytrade is not a licensed financial advisor, registered investment advisor, or a registered broker-dealer. Options, futures and futures options are not suitable for all investors. Prior to trading securities products, please read the Characteristics and Risks of Standardized Options and the Risk Disclosure for Futures and Options found on tastyworks.com. 

tastytrade is a trademark/servicemark owned by tastytrade.

tastyworks, Inc. ("tastyworks") is a registered broker-dealer and member of FINRA, NFA and SIPC. tastyworks offers self-directed brokerage accounts to its customers. tastyworks does not give financial or trading advice nor does it make investment recommendations. You alone are responsible for making your investment and trading decisions and for evaluating the merits and risks associated with the use of tastyworks’ systems, services or products. tastyworks is a wholly owned subsidiary of tastytrade, Inc (“tastytrade”).

tastyworks, Inc. (“tastyworks”) has entered into a Marketing Agreement with tastytrade (“Marketing Agent”) whereby tastyworks pays compensation to Marketing Agent to recommend tastyworks’ brokerage services. The existence of this Marketing Agreement should not be deemed as an endorsement or recommendation of Marketing Agent by tastyworks. tastytrade is the parent company of tastyworks. tastyworks and Marketing Agent are separate entities with their own products and services. tastytrade has different privacy policies than tastyworks.

Quiet Foundation, Inc. (“Quiet Foundation”) is a wholly-owned subsidiary of tastytrade The information on quietfoundation.com is intended for U.S. residents only. All investing involves the risk of loss. Past performance is not a guarantee of future results. Quiet Foundation does not make suitability determinations, nor does it make investment recommendations. You alone are responsible for making your investment and trading decisions and for evaluating the merits and risks associated with the use of Quiet Foundation’s systems, services or products.

© copyright 2013 – 2022 tastytrade. All Rights Reserved. Applicable portions of the Terms of use on tastytrade.com apply. Reproduction, adaptation, distribution, public display, exhibition for profit, or storage in any electronic storage media in whole or in part is prohibited under penalty of law, provided that you may download tastytrade’s podcasts as necessary to view for personal use.