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unsurprising as this trend is seeing popularity in south america as well as other countries the US deems of ill repute. Frankly im convinced this is the quiet

unsurprising as this trend is seeing popularity in south america as well as other countries the US deems of ill repute. Frankly im convinced this is the quiet death of Kissinger era soft power, the American monetary policy cudgel. The US currently sanctions monetarily ten percent of the financial world. If you take into account various chinese sanctions, its easily more than this. https://home.treasury.gov/policy-issues/financial-sanctions/sanctions-programs-and-country-information https://home.treasury.gov/policy-issues/financial-sanctions/... when your country racks up yearly multi-trillion dollar debts and expects other countries to continue financing them amidst such sanctions it tends to betray a certain disconnect and highlight the delineation between the political class and the capital class. Politicians have taken a very serious tool and run wild with it like a child with a pocket knife to such an extent over forty years that i think most players have simply had their fill of fair-weather ethical discourse from the land of the free.

woodruffw 5y ago
This claim isn't substantiated by the particulars: Bitcoin miners in these countries seem more than happy to cash their efforts out in USD, or in USD equivalents. Bitcoin itself remains speculative in nature, meaning that the amount of actual organic settlement via it remains relatively small.
pkaye 5y ago
The EU also has sanction against Lebanon. These sanctions are typically against specific individuals and not the entire population.
iskander 5y ago
> the American monetary policy cudgel. We're trading it for having the safe subset of crypto denominated in USD pegged stables. Less direct power over other countries but still keeps the world transacting in dollars.
yunohn 5y ago
> The increasing demand for cryptocurrency mining in Lebanon has prompted many shops across the country to accept payments in USDT I don’t blame you for missing the part of the post that actually addresses which cryptocurrency they’re resorting to, since it’s literally at the end. But, you do realise that USDT is a stable pegged (with super shaky/shady backing) to the USD, right?

woodruffw 5y ago

This claim isn't substantiated by the particulars: Bitcoin miners in these countries seem more than happy to cash their efforts out in USD, or in USD equivalents. Bitcoin itself remains speculative in nature, meaning that the amount of actual organic settlement via it remains relatively small.

pkaye 5y ago

The EU also has sanction against Lebanon. These sanctions are typically against specific individuals and not the entire population.

iskander 5y ago

> the American monetary policy cudgel. We're trading it for having the safe subset of crypto denominated in USD pegged stables. Less direct power over other countries but still keeps the world transacting in dollars.

yunohn 5y ago

> The increasing demand for cryptocurrency mining in Lebanon has prompted many shops across the country to accept payments in USDT I don’t blame you for missing the part of the post that actually addresses which cryptocurrency they’re resorting to, since it’s literally at the end. But, you do realise that USDT is a stable pegged (with super shaky/shady backing) to the USD, right?