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Yeah I was thinking about this - surely the incentives for Russians to buy crypto just went through the roof? Is it worth anyone's money to receive rubles in ex

Yeah I was thinking about this - surely the incentives for Russians to buy crypto just went through the roof? Is it worth anyone's money to receive rubles in exchange though.

stefan_ 5y ago
So you can have a Ruble-like crash of your investment every 3 months with Bitcoin? Have any of the clowns suggesting crypto like a broken record ever looked at a 1yr chart of that?
vbezhenar 5y ago
Why would you buy crypto when you can buy bucks or euros?
- chrisco255 5y ago
  I dunno, ask a Canadian trucker?
  - malermeister 5y ago
    Oh yes, let's ask the crazy conspiracy people terrorizing Canadian cities for advice.
    - throw_m239339 5y ago
      I think that the point is, Canada has demonstrated that, by using laws allegedly designed to combat terrorism, governments can easily cease FIAT assets and accounts from political opponents... or everybody.
    - Majestic121 5y ago
      I think the underlying point is not about the actual Canadian truckers, but the fact that Canadian truckers got all their donations canceled by a central authority. You might think that the central authority was right because the truckers were all 'crazy conspiracy people', but the underlying point remain : if you're in a line of politics that can get you on the wrong side of a central authority that can stop you, might be better to go for solutions that are less dependent on central authorities.
      - rvz 5y ago
        Indeed. Towards what the GP comment was saying, maybe they need to ask how this road to hell was paved with good intentions? Especially for cryptocurrencies, Signal and the internet. The same technology used by Ukraine donators is also used by terrorists, criminals and extremists. Maybe ask why they use it? Or even in the case for Signal, the same users who want privacy and want to chat securely and send MobileCoin to each other, the same extremists are doing just that on Signal and financing their criminal activities with MobileCoin to each other; with that being completely untraceable. All these libertarian technologies can be used by anybody, including the 'crazy conspiracy people' which some of them once thought that mass-surveillance was happening to everyone vs those who said: 'If you have nothing to fear, you have nothing to hide'. Those 'crazy conspiracy people' they speak of built those tools and it's a double-edged sword since anyone can use them.
    - spinny 5y ago
      nahhh. ask on HN.Don't forget that your rainbow flavored dildo is delivered by truck. Hope you can drive one. HONK HONK CRY MORE
      - dgellow 5y ago
        Please, avoid flame bait on HN.
      - dang 5y ago
        Can you please stop posting unsubstantive and/or flamebait comments? I don't want to ban you but you've been doing this repeatedly, and if you keep it up we'll have to. It's not what this site is for, and it destroys what it is for. https://news.ycombinator.com/newsguidelines.html https://news.ycombinator.com/newsguidelines.html
    - bryanrasmussen 5y ago
      or, charitably, I don't know why you would buy crypto when you can buy bucks or euros, maybe you should ask people who are buying crypto instead of bucks or euros why they do it. If the answer sounds like crazy conspiracy talk then you may have an answer.
    - dang 5y ago
      Please do not take HN threads further into ideological flamewar hell. Definitely not cool. Edit: We've had to ask you this more than once before, and ban accounts that don't stop, so please stop. It's not what this site is for, and it destroys what it is for. https://news.ycombinator.com/newsguidelines.html https://news.ycombinator.com/newsguidelines.html
  - dang 5y ago
    Please don't post unsubstantive and/or flamebait comments to HN. Edit: We've had to ask you this more than once before, and ban accounts that don't stop, so please stop. It's not what this site is for, and it destroys what it is for. https://news.ycombinator.com/newsguidelines.html https://news.ycombinator.com/newsguidelines.html
have_faith 5y ago
So they can use the crypto to buy what? dollars?
- ur-whale 5y ago
  > So they can use the crypto to buy what? dollars? Exchange oil for BTC. Use obtained BTC to buy other commodities from willing partners (which - has to be said - there might not be many left). Bypass traditional currencies entirely.
  - umeshunni 5y ago
    Ironically, the countries that Russia would have been able to trade with in BTC (China, India etc) are the countries that are most resistant to crypto.
    - smoe 5y ago
      Also countries with whom they can just use CIPS, the Chinese alternative to SWIFT. Seems much more straightforward than crypto for most.
    - from 5y ago
      This is because major countries with their own currencies do not like having dollarized economies. Trade with the west could be done in BTC because there is no blanket prohibition on business with Russia just mostly their financial institutions. Promoting CIPS is probably the best option.
  - pishpash 5y ago
    They can just trade in yuan or rupees then. What does BTC provide additionally?
  - Gertioj 5y ago
    The companies buying need to make it transparent and if there is not enough criminal energy there is no way they would do this.

Yeah I was thinking about this - surely the incentives for Russians to buy crypto just went through the roof? Is it worth anyone's money to receive rubles in exchange though.

stefan_ 5y ago

So you can have a Ruble-like crash of your investment every 3 months with Bitcoin? Have any of the clowns suggesting crypto like a broken record ever looked at a 1yr chart of that?

vbezhenar 5y ago

Why would you buy crypto when you can buy bucks or euros?

chrisco255 5y ago
I dunno, ask a Canadian trucker?
- malermeister 5y ago
  Oh yes, let's ask the crazy conspiracy people terrorizing Canadian cities for advice.
  - throw_m239339 5y ago
    I think that the point is, Canada has demonstrated that, by using laws allegedly designed to combat terrorism, governments can easily cease FIAT assets and accounts from political opponents... or everybody.
  - Majestic121 5y ago
    I think the underlying point is not about the actual Canadian truckers, but the fact that Canadian truckers got all their donations canceled by a central authority. You might think that the central authority was right because the truckers were all 'crazy conspiracy people', but the underlying point remain : if you're in a line of politics that can get you on the wrong side of a central authority that can stop you, might be better to go for solutions that are less dependent on central authorities.
    - rvz 5y ago
      Indeed. Towards what the GP comment was saying, maybe they need to ask how this road to hell was paved with good intentions? Especially for cryptocurrencies, Signal and the internet. The same technology used by Ukraine donators is also used by terrorists, criminals and extremists. Maybe ask why they use it? Or even in the case for Signal, the same users who want privacy and want to chat securely and send MobileCoin to each other, the same extremists are doing just that on Signal and financing their criminal activities with MobileCoin to each other; with that being completely untraceable. All these libertarian technologies can be used by anybody, including the 'crazy conspiracy people' which some of them once thought that mass-surveillance was happening to everyone vs those who said: 'If you have nothing to fear, you have nothing to hide'. Those 'crazy conspiracy people' they speak of built those tools and it's a double-edged sword since anyone can use them.
  - spinny 5y ago
    nahhh. ask on HN.Don't forget that your rainbow flavored dildo is delivered by truck. Hope you can drive one. HONK HONK CRY MORE
    - dgellow 5y ago
      Please, avoid flame bait on HN.
    - dang 5y ago
      Can you please stop posting unsubstantive and/or flamebait comments? I don't want to ban you but you've been doing this repeatedly, and if you keep it up we'll have to. It's not what this site is for, and it destroys what it is for. https://news.ycombinator.com/newsguidelines.html https://news.ycombinator.com/newsguidelines.html
  - bryanrasmussen 5y ago
    or, charitably, I don't know why you would buy crypto when you can buy bucks or euros, maybe you should ask people who are buying crypto instead of bucks or euros why they do it. If the answer sounds like crazy conspiracy talk then you may have an answer.
  - dang 5y ago
    Please do not take HN threads further into ideological flamewar hell. Definitely not cool. Edit: We've had to ask you this more than once before, and ban accounts that don't stop, so please stop. It's not what this site is for, and it destroys what it is for. https://news.ycombinator.com/newsguidelines.html https://news.ycombinator.com/newsguidelines.html
- dang 5y ago
  Please don't post unsubstantive and/or flamebait comments to HN. Edit: We've had to ask you this more than once before, and ban accounts that don't stop, so please stop. It's not what this site is for, and it destroys what it is for. https://news.ycombinator.com/newsguidelines.html https://news.ycombinator.com/newsguidelines.html

have_faith 5y ago

So they can use the crypto to buy what? dollars?

ur-whale 5y ago
> So they can use the crypto to buy what? dollars? Exchange oil for BTC. Use obtained BTC to buy other commodities from willing partners (which - has to be said - there might not be many left). Bypass traditional currencies entirely.
- umeshunni 5y ago
  Ironically, the countries that Russia would have been able to trade with in BTC (China, India etc) are the countries that are most resistant to crypto.
  - smoe 5y ago
    Also countries with whom they can just use CIPS, the Chinese alternative to SWIFT. Seems much more straightforward than crypto for most.
  - from 5y ago
    This is because major countries with their own currencies do not like having dollarized economies. Trade with the west could be done in BTC because there is no blanket prohibition on business with Russia just mostly their financial institutions. Promoting CIPS is probably the best option.
- pishpash 5y ago
  They can just trade in yuan or rupees then. What does BTC provide additionally?
- Gertioj 5y ago
  The companies buying need to make it transparent and if there is not enough criminal energy there is no way they would do this.