4 ms·

Ukraine received millions of dollars of donations in cryptocurrency. So your last statement is not really correct.

DennisP 5y ago
As of March 11, close to $100 million. According to a deputy minister in Ukraine: > “In a situation like this, where the national bank is not fully operating, crypto is helping to perform fast transfers, to make it very quick and get results almost immediately.” NYTimes: https://archive.ph/3HVqU# https://archive.ph/3HVqU#
thehappypm 5y ago
This is crypto’s second largest use case, behind as a means for illegal activities. Crypto is easier to send in extreme situations than fiat currencies.
- ea550ff70a 5y ago
  > behind as a means for illegal activities which are less than 1% of the yearly transaction volume according to Chainalysis lol
  - rvz 5y ago
    On top of that you can trace all the transactions on the chain and see where everything is going publicly. Useful to catch criminals attempting to liquidate on to an exchange. Good luck cashing out and not getting caught.
    - koonsolo 5y ago
      Monero fixed that a long time ago already.
      - rvz 5y ago
        That's right. Perhaps that's why proposed regulations are cracking down on banning and delisting Monero (and other privacy coins) on exchanges. [0] [1] [0] https://www.coindesk.com/policy/2022/03/31/eu-parliament-votes-on-privacy-busting-crypto-rules-industry-rails-against-proposals/ https://www.coindesk.com/policy/2022/03/31/eu-parliament-vot... [1] https://www.investing.com/news/cryptocurrency-news/kraken-to-delist-monero-for-uk-customers-by-the-end-of-november-2685869 https://www.investing.com/news/cryptocurrency-news/kraken-to...
        koonsolo 5y ago
        Would love to see them claim my Monero. Oh wait, I have no Monero, sorry about the confusion.
  - thehappypm 5y ago
    Right, because criminals are so easy to analyze
    - ea550ff70a 5y ago
      Not as easy as googling for a restaurant, but definitely doable with the right tools.

As of March 11, close to $100 million. According to a deputy minister in Ukraine: > “In a situation like this, where the national bank is not fully operating, crypto is helping to perform fast transfers, to make it very quick and get results almost immediately.” NYTimes: https://archive.ph/3HVqU# https://archive.ph/3HVqU#

thehappypm 5y ago

This is crypto’s second largest use case, behind as a means for illegal activities. Crypto is easier to send in extreme situations than fiat currencies.

ea550ff70a 5y ago
> behind as a means for illegal activities which are less than 1% of the yearly transaction volume according to Chainalysis lol
- rvz 5y ago
  On top of that you can trace all the transactions on the chain and see where everything is going publicly. Useful to catch criminals attempting to liquidate on to an exchange. Good luck cashing out and not getting caught.
  - koonsolo 5y ago
    Monero fixed that a long time ago already.
    - rvz 5y ago
      That's right. Perhaps that's why proposed regulations are cracking down on banning and delisting Monero (and other privacy coins) on exchanges. [0] [1] [0] https://www.coindesk.com/policy/2022/03/31/eu-parliament-votes-on-privacy-busting-crypto-rules-industry-rails-against-proposals/ https://www.coindesk.com/policy/2022/03/31/eu-parliament-vot... [1] https://www.investing.com/news/cryptocurrency-news/kraken-to-delist-monero-for-uk-customers-by-the-end-of-november-2685869 https://www.investing.com/news/cryptocurrency-news/kraken-to...
      - koonsolo 5y ago
        Would love to see them claim my Monero. Oh wait, I have no Monero, sorry about the confusion.
- thehappypm 5y ago
  Right, because criminals are so easy to analyze
  - ea550ff70a 5y ago
    Not as easy as googling for a restaurant, but definitely doable with the right tools.