6 ms·

Explain to me how you can take your money out of Russia, Iran, Lebanon, Ukraine or Venezuela without Bitcoin. I'll wait

ABCLAW 4y ago
Fraud and money laundering unironically described as the killer use case for crypto isn't the slam dunk you think it is.
- eldenwrong 4y ago
  So now taking your wealth with you is fraud or money laundering?
dogecoinbase 4y ago
Ah yes, the "leave a permanent record of violating sanctions in an immutable blockchain" strategy of money transfer.
- nelox 4y ago
  Better chances at a casino.
Symbiote 4y ago
For Ukraine any ordinary international transfer works.
monodeldiablo 4y ago
Buy yuan or any other traded fiat currency from a friendly state. In other words, the same way people have dodged currency controls and sanctions since time immemorial.
vba616 4y ago
https://en.wikipedia.org/wiki/Informal_value_transfer_system https://en.wikipedia.org/wiki/Informal_value_transfer_system "The sender gives money to an...agent and his/her counterpart in the receiver region/country acts as deliverer of this money. The sender calls or faxes instructions to his counterpart and the money gets delivered in a matter of few hours. In the past, the message could be delivered using couriers, with men or even animals (such as pigeons). Settlements are made either with a private delivery service or wire transfer in the opposite direction. Another method of balancing the books is to under-invoice goods shipped abroad, so that the receiver can resell the products at a higher market price"
vkou 4y ago
In and out of Russia? Use a non-sanctioned bank. My parents are still sending remittances to Russia. Ukraine? Use a bank. Or maybe PayPal? My parents are also still sending remittances to Ukraine. Lebanon, Iran, Venezuela? Probably Hawala, or maybe through China or India, but you'll probably get a more detailed answer from an ex-pat. I will also point out that shitcoins and NFTs and the various pyramid schemes that are currently unraveling aren't a solution to this problem. In fact, they only solve the problem of transferring money from the pockets of the greedy and financially illiterate to the pockets of the greedy and financially literate.
ineedasername 4y ago
Who are these masses of people exfiltrating their money from these countries with crypto? They seem as yet more theoretical & annecdotal (and even few of those) than actual, especially since there are still normal traditional finance ways for individuals to do this sort of thing. Also any of these hypothetical people that put their money in crypto just lost a significant chunk of their life savings.

Fraud and money laundering unironically described as the killer use case for crypto isn't the slam dunk you think it is.

eldenwrong 4y ago
So now taking your wealth with you is fraud or money laundering?

dogecoinbase 4y ago

Ah yes, the "leave a permanent record of violating sanctions in an immutable blockchain" strategy of money transfer.

nelox 4y ago
Better chances at a casino.

Symbiote 4y ago

For Ukraine any ordinary international transfer works.

monodeldiablo 4y ago

Buy yuan or any other traded fiat currency from a friendly state. In other words, the same way people have dodged currency controls and sanctions since time immemorial.

vba616 4y ago

https://en.wikipedia.org/wiki/Informal_value_transfer_system https://en.wikipedia.org/wiki/Informal_value_transfer_system "The sender gives money to an...agent and his/her counterpart in the receiver region/country acts as deliverer of this money. The sender calls or faxes instructions to his counterpart and the money gets delivered in a matter of few hours. In the past, the message could be delivered using couriers, with men or even animals (such as pigeons). Settlements are made either with a private delivery service or wire transfer in the opposite direction. Another method of balancing the books is to under-invoice goods shipped abroad, so that the receiver can resell the products at a higher market price"

vkou 4y ago

In and out of Russia? Use a non-sanctioned bank. My parents are still sending remittances to Russia. Ukraine? Use a bank. Or maybe PayPal? My parents are also still sending remittances to Ukraine. Lebanon, Iran, Venezuela? Probably Hawala, or maybe through China or India, but you'll probably get a more detailed answer from an ex-pat. I will also point out that shitcoins and NFTs and the various pyramid schemes that are currently unraveling aren't a solution to this problem. In fact, they only solve the problem of transferring money from the pockets of the greedy and financially illiterate to the pockets of the greedy and financially literate.

ineedasername 4y ago

Who are these masses of people exfiltrating their money from these countries with crypto? They seem as yet more theoretical & annecdotal (and even few of those) than actual, especially since there are still normal traditional finance ways for individuals to do this sort of thing. Also any of these hypothetical people that put their money in crypto just lost a significant chunk of their life savings.