5 ms·
So they can use the crypto to buy what? dollars?
by 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 agoIronically, 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 agoAlso countries with whom they can just use CIPS, the Chinese alternative to SWIFT. Seems much more straightforward than crypto for most.
- from 5y agoThis 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 agoThey can just trade in yuan or rupees then. What does BTC provide additionally?
- Gertioj 5y agoThe companies buying need to make it transparent and if there is not enough criminal energy there is no way they would do this.