5 ms·
What would be the alternative? Cash or Crypto?
by phantomathkg 5y ago
What would be the alternative? Cash or Crypto?
- deleted 5y ago[deleted]
- dukeofdoom 5y agoCash is King! You need functioning internet and banks to accept crypto.
- Osiris 5y agoBeing pedantic but you only need banks to convert crypto to fiat and via versa. But given they context here I concede the point. Cash is also subject to hyper inflation which is likely given the rapid drop in the value of their currency, making it a poor store of value.
- hadrien01 5y agoOther networks. International ones like Visa or American Express, or national ones like Carte Bleue, Bancontact, etc.
- thinkingemote 5y agoVisa is blocking them too
- hadrien01 5y agoI interpreted the parent comment as how to react if the Mastercard network goes down worldwide when Russia retaliates by trying to hack them. Payments networks inside Russia is another matter altogether, but I assume like most countries they also have a local card network (Edit: found it, it's called Mir[0]). In that case, the issue will arise only when trying to use russian cards outside Russia. [0] https://en.m.wikipedia.org/wiki/Mir_(payment_system) https://en.m.wikipedia.org/wiki/Mir_(payment_system)
- throw202203 5y agoRussia created its own system similar to Visa/MasterCard after the first round of sanctions in 2014 https://en.m.wikipedia.org/wiki/Mir_(payment_system) https://en.m.wikipedia.org/wiki/Mir_(payment_system)