Looking forward into the future do cryptocurrencies have the “flaw” of not being able to be weaponized?
or can they?
I’m watching a bit of the Fed meeting and someone asked the question “do the sanctions block Russia’s access to world reserve currencies so they can’t be used to fund their war?”
Powell answered “Yes”
What also comes to mind is Acclaimed Economist Steve Hanke who doesn’t believe in Sanctions and say’s “there is too much collateral damage”. With respect to him I’m paraphrasing what he said.
In my personal opinion I would also Argue giving the United Nations the “Crypto Red Button” in certain circumstances. A majority vote.
- Everything in respect in Cardano. I’m trying to strengthen my understanding for the strongest use cases for crypto and it’s vulnerabilities
I would agree that sanctions mostly hurt the most vulnerable. Crypto funds are being used to support the Ukrainians and for average Russians to have an alternative to the Ruble. Large wallets can always be targeted for sanction or scrutiny as well.
Interestingly, BTC now has a higher marketcap than Ruble.
I dont think cryptocurrency will help Putin much. They do mine a lot of Btc but I suppose these coins can be traced by ip address. That would make them ”dirty”.
Who would want to sell stuff for cc in return? Anything you get may be known to belong to, say, an oligarch. If not today, sometime in the future.
Putin has amassed a lot of foreign currency for many years now. I guess that’s what he will use. He has enough money to pay for the war. Unrest could be problematic, ordinary people are having trouble.
The best thing to do is to cut energy purchase. That will hurt
The Russia-Ukraine war is the reason the anti-cryptos have been waiting for to “regulate”. When we look at the numbers we see that crypto purchases by Russians represent only a drop of water. We already had Bitcoin and the environment, now this.
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