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So individuals who recently left Russia out of fear for the regime and may be in very vulnerable positions have potentially unexpectedly lost access to their fu
by 3np 5y ago
So individuals who recently left Russia out of fear for the regime and may be in very vulnerable positions have potentially unexpectedly lost access to their funds until they can sort that out...
Meanwhile, for The Real Russians, business as usual.
This looks like theatre hurting the wrong people.
- alkonaut 5y agoAnyone who ran across the border and hoped to get their savings from inside Russia once out were naive (or more likely just in a hurry). This is one of few good use cases for cryptocurrency.
- throw-ru-938 5y agoGetting hard currency in Russia right now is a long and difficult process, there's a massive shortage.
- 3np 5y agoHow difficult is it to get access to BTC? Does it trade at a premium?
- deleted 5y ago[deleted]
- colesantiago 5y agoThis is still not a usecase for 'cryptocurrencies' at all. In fact the big crypto exchanges have now blocked Russian users.
- lekevicius 5y ago[citation needed]? I only know that Binance and Kraken specifically spoken against blocking the country.
- colesantiago 5y agoGreat, they can ban Russians when forced to anyway? So much for no censorship on crypto tokens even a South Korean crypto exchange has done it. [0] We both know the writing is on the wall and crypto will end up being useless for Russian users. [0] https://cryptopotato.com/south-korean-crypto-exchanges-block-russian-based-ip-addresses-report/ https://cryptopotato.com/south-korean-crypto-exchanges-block...
- deleted 5y ago[deleted]
- akimball 5y agoWhile you may know this, I know otherwise. Time will tell which of us has the more predictive knowledge.
- 3np 5y agoTo be more specific: They did not speak out about blocking "the country" but about closing accounts and restricting access for all Russian citizens/residents. They are, however, complying with targeted sanctions of the individuals on the sanction list. If the scope of the OFAC sanctions forces the exchanges to start blocking Russian passport holders and/or residents, that will change, of course. Kraken CEO tweet thread: http://nitter7bryz3jv7e3uekphigvmoyoem4al3fynerxkj22dmoxoq553qd.onion/jespow/status/1498112741684363265 http://nitter7bryz3jv7e3uekphigvmoyoem4al3fynerxkj22dmoxoq55...
- 3np 5y agoThere are ways to exchange fiat for cryptocurrency without going through a regulated business. Bisq, localcryptos, coordinating over chat and meeting up IRL.
- colesantiago 5y agoGood luck finding someone to trade crypto tokens with without burning up the planet as with all these tokens do. By the time you found someone and agreed, the price would have dropped 30%. You might as well use the existing system.
- root_axis 5y agoOk. So there's a war on, and I make a public post online advertising that I have a bunch of cash and I'd like to meet up to facilitate a trade...
- 3np 5y agoDid you check out the anonymity properties of Bisq and localcryptos?
- quotha 5y agoYes, imagine, you only need to remember 12 words!
- dehrmann 5y agoThere's a chance that this triggers EU, NATO, and partner countries to ban or heavily regulate cryptocurrencies.
- 3np 5y agoAlready on it, according to the director for cybersecurity and secure digital innovation for the US White House National Security Council. https://events.trmlabs.com/trm-labs/TRM-Talks-Russia-Sanctions https://events.trmlabs.com/trm-labs/TRM-Talks-Russia-Sanctio... (They ask you to register to view but viewing is possible without verifying the e-mail)
- SergeAx 5y agoWhat's wrong with getting savings across border using ATM cash withdrawal while abroad? Limits are quite high for debit cards (and could be customized via client support), ATM commissions in first world countries are more than reasonable (up to 0%).
- raxi 5y agoLyon Feuchtwanger, a Jew and anti-fascist who fled Hitler's Germany, lost all his savings in banks in the US, Canada, Britain and France. Because of the sanctions imposed on him as a German citizen. The only bank he still had money in his account in 1945 was ...German.
- onetokeoverthe 5y ago
- claudenm 5y agoAny citation on that?
- raxi 5y agoIn his books (likely in autobiographical "Unholdes Frankreich")
- vkou 5y agoIt's not theatre, between this, and the trade disruptions, it's currently crippling the Russian domestic economy. People at different levels of society are, of course, affected differently, but everybody's affected at this point. Even for an aristocrat, drinking moonshine in Krasnodar just doesn't have the same caché as Don Perignon in Paris.