Comment on Russia legalizes Bitcoin and cryptocurrency mining

• tardigrada@beehaw.org ⁨5⁩ ⁨weeks⁩ ago

  Yes, but for the West it’s just easier to block Swift than a decentralized network. But in principle I agree. That China and Russia haven’t obviously found something better to arrange payments than barter and a blockchain is a clear sign imo that they are in big trouble.

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  • jarfil@beehaw.org ⁨5⁩ ⁨weeks⁩ ago

    Barter is not a unheard of way to conduct business, even between countries without sanctions. The SWIFT network itself has become a sort of barter system.

    I’m guessing in this case, they both distrust each other’s currency, so they might as well trade in Bitcoin as in any other currency they’d both trust more… if there was such.

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    • tardigrada@beehaw.org ⁨5⁩ ⁨weeks⁩ ago

      they both distrust each other’s currency

      Yes, I fully agree especially with this, but also the other views.

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