8 ms·

that sucks for the victims, as crypto was attractive because of the crazy inflation in Turkey

throwaway290 3y ago
You can't fix inflation of national currency by just not using national currency and switching to grey money used mainly by criminals like DPRK or Russia to bypass sanctions and get paid from cybercrime. Actually switching to crypto and resulting lower demand for national currency would be part of the problem increasing inflation.
- lostmsu 3y ago
  > You can't fix inflation of national currency by just not using national currency I don't see why its true. In fact, the opposite seems to be more or less obvious if you insert "new" and "old" correspondingly.
  - throwaway290 3y ago
    Can you expand? Not using national currency in favor of whatever monopoly/gang money leads to low demand and oversupply => inflation.
    - lostmsu 3y ago
      In the suggested scheme the "old national currency" is not used anymore and the crypto is the "new national currency".
      - throwaway290 3y ago
        Ah. Good luck having stable economic life if your "national currency" jumps wildly due to random pump-and-dumpers or ransomware payouts and can go to zero the next day.
        lostmsu 3y ago
        This argument is not a clear cut like the original (mistaken one).
- oneTbrain23 3y ago
  Russians still use ruble, usd, rmb, yen, rupees and barter trade EASILY. Half the world trade data now gone dark. Just go read up Russians still working with Japanese on the oil rigs there. Chinese banks still trade with Russians. Gold still flow thru international market from Moscow thru China thru India thru any buyers even if he is sitting next to Biden. Get a friend who lives in Moscow or any cities in Russia. They are not facing sanctions starvation. They actually having economic boom right now. Their supermarkets are actually fully stocked. While my local walmart store closing down due to thieving.
  - throwaway290 3y ago
    I'm from Russia, hi^_^ russia and north korea saw that making western companies (some of which can pay up more than entire government budget in some of these countries) transfer rub or whatever is not working for many reasons (eg. if banks allowed it it would implicate the government etc). So their ransomware gangs use crypto now. Russian ruble exists in name only. Well, it is used in country as normal for now, but it's nearly illegal to buy foreign currency in useful amounts so official exchange rate means nothing. In truth if you want to actually help Russians/NKoreans, cutting money supply/laundering mechanisms for the elites would be a big step in that direction and crypto is a big big part of that now.

You can't fix inflation of national currency by just not using national currency and switching to grey money used mainly by criminals like DPRK or Russia to bypass sanctions and get paid from cybercrime. Actually switching to crypto and resulting lower demand for national currency would be part of the problem increasing inflation.

lostmsu 3y ago
> You can't fix inflation of national currency by just not using national currency I don't see why its true. In fact, the opposite seems to be more or less obvious if you insert "new" and "old" correspondingly.
- throwaway290 3y ago
  Can you expand? Not using national currency in favor of whatever monopoly/gang money leads to low demand and oversupply => inflation.
  - lostmsu 3y ago
    In the suggested scheme the "old national currency" is not used anymore and the crypto is the "new national currency".
    - throwaway290 3y ago
      Ah. Good luck having stable economic life if your "national currency" jumps wildly due to random pump-and-dumpers or ransomware payouts and can go to zero the next day.
      - lostmsu 3y ago
        This argument is not a clear cut like the original (mistaken one).
oneTbrain23 3y ago
Russians still use ruble, usd, rmb, yen, rupees and barter trade EASILY. Half the world trade data now gone dark. Just go read up Russians still working with Japanese on the oil rigs there. Chinese banks still trade with Russians. Gold still flow thru international market from Moscow thru China thru India thru any buyers even if he is sitting next to Biden. Get a friend who lives in Moscow or any cities in Russia. They are not facing sanctions starvation. They actually having economic boom right now. Their supermarkets are actually fully stocked. While my local walmart store closing down due to thieving.
- throwaway290 3y ago
  I'm from Russia, hi^_^ russia and north korea saw that making western companies (some of which can pay up more than entire government budget in some of these countries) transfer rub or whatever is not working for many reasons (eg. if banks allowed it it would implicate the government etc). So their ransomware gangs use crypto now. Russian ruble exists in name only. Well, it is used in country as normal for now, but it's nearly illegal to buy foreign currency in useful amounts so official exchange rate means nothing. In truth if you want to actually help Russians/NKoreans, cutting money supply/laundering mechanisms for the elites would be a big step in that direction and crypto is a big big part of that now.