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Russia Could Use Cryptocurrency to Blunt the Force of U.S. Sanctions

13 points by mitchbob 5y ago

mitchbob 5y ago
Archived: https://archive.ph/YhdEB https://archive.ph/YhdEB
sydthrowaway 5y ago
Thank you Satoshi for enabling dictators and destroying the planet.
- 2pEXgD0fZ5cF 5y ago
  Hey it makes Elon Musk and a few more people richer and uses more energy than Norway[1] with only a small number of users and transactions, sounds like incredible technology from the future year of 2009 to me. How can you not love it? [1]: https://ccaf.io/cbeci/index https://ccaf.io/cbeci/index
rvz 5y ago
Why use Bitcoin since that is not anonymous when they can use Monero or MobileCoin to totally be untraceble and bypass sanctions and on top of that use Signal with E2EE so that it is impossible to obtain your messages on any side of the conversation? I mean an untraceable, uncensorable and a private cryptocurrency which can be used to bypass sanctions and fund operations whilst sitting on an E2EE messenger sounds like a great tool for criminals and on the battlefield. (!)
smt88 5y ago
This isn't really a new concept. The only people who are bullish on crypto's intrinsic value are people who believe that laws and institutions are oppressive. Even in its early history, cryptocurrency was a way to invest in outlawed activity. In the US, that might be dealing drugs. In Russia, that would be violating sanctions. If all investments are bets, early cryptocurrency investment was essentially a bet that criminal activity would increase and/or that criminals would increasingly use that token. Nowadays, speculation has likely drowned that "value" out, of course.
- WaxedChewbacca 5y ago
potiuper 5y ago
So, this conjecture is allowed that is repost from a day ago: https://news.ycombinator.com/item?id=30446219 https://news.ycombinator.com/item?id=30446219, but https://news.ycombinator.com/item?id=30451074 https://news.ycombinator.com/item?id=30451074 <Moscow exchange suspends trading on all markets (reuters.com)> is not and gets flagged? Shutting the financial markets significant impacts not just the regional story, but almost all major international organizations including crypto related not to mention the Russian people rather than the just the justified attention with the Ukraine news. Was this intentional mods or is HN being attacked with a Russian suppression adjenda? What is the formula to determine the number or weighting of flags to delist an article? How long should one wait before attempting to resubmit?

13 points by mitchbob 5y ago

mitchbob 5y ago

Archived: https://archive.ph/YhdEB https://archive.ph/YhdEB

sydthrowaway 5y ago

Thank you Satoshi for enabling dictators and destroying the planet.

2pEXgD0fZ5cF 5y ago
Hey it makes Elon Musk and a few more people richer and uses more energy than Norway[1] with only a small number of users and transactions, sounds like incredible technology from the future year of 2009 to me. How can you not love it? [1]: https://ccaf.io/cbeci/index https://ccaf.io/cbeci/index

rvz 5y ago

Why use Bitcoin since that is not anonymous when they can use Monero or MobileCoin to totally be untraceble and bypass sanctions and on top of that use Signal with E2EE so that it is impossible to obtain your messages on any side of the conversation? I mean an untraceable, uncensorable and a private cryptocurrency which can be used to bypass sanctions and fund operations whilst sitting on an E2EE messenger sounds like a great tool for criminals and on the battlefield. (!)

smt88 5y ago

This isn't really a new concept. The only people who are bullish on crypto's intrinsic value are people who believe that laws and institutions are oppressive. Even in its early history, cryptocurrency was a way to invest in outlawed activity. In the US, that might be dealing drugs. In Russia, that would be violating sanctions. If all investments are bets, early cryptocurrency investment was essentially a bet that criminal activity would increase and/or that criminals would increasingly use that token. Nowadays, speculation has likely drowned that "value" out, of course.

WaxedChewbacca 5y ago

potiuper 5y ago

So, this conjecture is allowed that is repost from a day ago: https://news.ycombinator.com/item?id=30446219 https://news.ycombinator.com/item?id=30446219, but https://news.ycombinator.com/item?id=30451074 https://news.ycombinator.com/item?id=30451074 <Moscow exchange suspends trading on all markets (reuters.com)> is not and gets flagged? Shutting the financial markets significant impacts not just the regional story, but almost all major international organizations including crypto related not to mention the Russian people rather than the just the justified attention with the Ukraine news. Was this intentional mods or is HN being attacked with a Russian suppression adjenda? What is the formula to determine the number or weighting of flags to delist an article? How long should one wait before attempting to resubmit?