6 ms·

Well, good thing you don't have to rely on centralized, government-controlled banks and currency exchanges to conduct business with people in the sanctioned cou

Well, good thing you don't have to rely on centralized, government-controlled banks and currency exchanges to conduct business with people in the sanctioned countries and can use cryptocurrencies instead.

deleted 3y ago
[deleted]
ChatGTP 3y ago
While that's true, it's quite impractical to just use cryptos alone for anything really useful. Maybe in time that will change but this will have some impact IMO.
smegsicle 3y ago
this is such an ill-informed take- binance is huge, there's nothing like it in russia with every exchange in the world refusing to work with rubles, the russian people are becoming completely cut off from crypto markets
- vore 3y ago
  Oh no!! What will they do??
  - meepmorp 3y ago
    Double down on invading their neighbors?
    - lionkor 3y ago
      Classy. FYI the population is not invading, the government and military is. You can go there and take a look, its not too hard to go and see that the people are normal people like anyone else. You can even talk to them.
      - justrealist 3y ago
        https://globalaffairs.org/research/public-opinion-survey/russians-are-split-over-benefits-military-action-ukraine https://globalaffairs.org/research/public-opinion-survey/rus... > At the same time, support for the Russian military action has neither increased nor decreased. Three in four Russians (76%) continue to say they support the military operation, with 43 percent expressing strong support and 33 percent somewhat supporting it. Apologies if I accidentally condemn the 24% of Russians who aren't neofascists (and yet, can't be bothered to protest, lest the state get upset).
        orphea 3y ago
        > and yet, can't be bothered to protest You go to prison for making anti-war statements in Russia, you know? https://meduza.io/en/news/2023/11/08/prosecution-requests-eight-year-sentence-for-sasha-skochilenko-st-petersburg-artist-who-replaced-price-tags-with-information-about-war-in-ukraine https://meduza.io/en/news/2023/11/08/prosecution-requests-ei... Eight. Fucking. Years. For some anti-war price tags. The same sentence you get if you plant drugs as a group of corrupted cops. https://meduza.io/en/news/2021/06/07/ex-police-officers-convicted-in-the-golunov-case-challenge-verdict https://meduza.io/en/news/2021/06/07/ex-police-officers-conv...
        justrealist 3y ago
        Yes, that is my point. Russian liberals are only anemically willing to be anti-war when that stance cannot personally hurt them, and certainly not opposed enough that they are willing to leave Russia. It may shock you to know that in some countries[1], dissidents have been willing to take personal risk of jail time to make their voice heard. [1] https://en.wikipedia.org/wiki/Nelson_Mandela https://en.wikipedia.org/wiki/Nelson_Mandela
        orphea 3y ago
        It may shock you to know that in some countries[1][2], dissidents have been willing to take personal risk of jail time to make their voice heard. Or being killed. [3] [1] https://en.wikipedia.org/wiki/Alexei_Navalny https://en.wikipedia.org/wiki/Alexei_Navalny [2] https://en.wikipedia.org/wiki/Ilya_Yashin https://en.wikipedia.org/wiki/Ilya_Yashin [3] https://en.wikipedia.org/wiki/Boris_Nemtsov https://en.wikipedia.org/wiki/Boris_Nemtsov
- Hoefner 3y ago
  Can't russians just use and deposit usd or any other currency instead?
  - onlyrealcuzzo 3y ago
    Sure - if they have some bank that isn't sanctioned (AFAIK there are 0 domestic banks not sanctioned) - or money already outside of Russia (only the rich, and most of the mega rich are sanctioned individually).
    - flamey 3y ago
      you know wrong
    - pshirshov 3y ago
      Unfortunately no. Gazprombank, Raiffeisenbank and Rosselkhozbank are partially sanctioned but operational - they allow to do swift transfers, their own native transfers to select post-soviet countries and their unionpay cards work relatively well outside of russia.
  - victorbjorklund 3y ago
    And where will they convert their rubels to USD?
    - Hoefner 3y ago
      Probably lots of countries and people still doing business (and trading) in russia who needs RUB. So p2p crypto exchange or cash
- reisse 3y ago
  Nah, it's your take that is ill-informed. If you want to convert rubles to crypto, you just do P2P on the Binance or on any other exchange. Basically, exchange provides a list of verified merchants to whom you can deposit rubles directly via any kind of means (card-to-card, FPS, cash, you name it), and these merchants top up your crypto wallet. It takes like two minutes to buy USDT. And it also works in other direction. As for deposits, there was no reasonable way to deposit rubles on Binance anyway since VISA and Mastercard blocked international payments. Now it's just cleaning up the leftovers so Binance can legally say "we don't work with Russia anymore".

deleted 3y ago

[deleted]

ChatGTP 3y ago

While that's true, it's quite impractical to just use cryptos alone for anything really useful. Maybe in time that will change but this will have some impact IMO.

smegsicle 3y ago

this is such an ill-informed take- binance is huge, there's nothing like it in russia with every exchange in the world refusing to work with rubles, the russian people are becoming completely cut off from crypto markets

vore 3y ago
Oh no!! What will they do??
- meepmorp 3y ago
  Double down on invading their neighbors?
  - lionkor 3y ago
    Classy. FYI the population is not invading, the government and military is. You can go there and take a look, its not too hard to go and see that the people are normal people like anyone else. You can even talk to them.
    - justrealist 3y ago
      https://globalaffairs.org/research/public-opinion-survey/russians-are-split-over-benefits-military-action-ukraine https://globalaffairs.org/research/public-opinion-survey/rus... > At the same time, support for the Russian military action has neither increased nor decreased. Three in four Russians (76%) continue to say they support the military operation, with 43 percent expressing strong support and 33 percent somewhat supporting it. Apologies if I accidentally condemn the 24% of Russians who aren't neofascists (and yet, can't be bothered to protest, lest the state get upset).
      - orphea 3y ago
        > and yet, can't be bothered to protest You go to prison for making anti-war statements in Russia, you know? https://meduza.io/en/news/2023/11/08/prosecution-requests-eight-year-sentence-for-sasha-skochilenko-st-petersburg-artist-who-replaced-price-tags-with-information-about-war-in-ukraine https://meduza.io/en/news/2023/11/08/prosecution-requests-ei... Eight. Fucking. Years. For some anti-war price tags. The same sentence you get if you plant drugs as a group of corrupted cops. https://meduza.io/en/news/2021/06/07/ex-police-officers-convicted-in-the-golunov-case-challenge-verdict https://meduza.io/en/news/2021/06/07/ex-police-officers-conv...
        justrealist 3y ago
        Yes, that is my point. Russian liberals are only anemically willing to be anti-war when that stance cannot personally hurt them, and certainly not opposed enough that they are willing to leave Russia. It may shock you to know that in some countries[1], dissidents have been willing to take personal risk of jail time to make their voice heard. [1] https://en.wikipedia.org/wiki/Nelson_Mandela https://en.wikipedia.org/wiki/Nelson_Mandela
        orphea 3y ago
        It may shock you to know that in some countries[1][2], dissidents have been willing to take personal risk of jail time to make their voice heard. Or being killed. [3] [1] https://en.wikipedia.org/wiki/Alexei_Navalny https://en.wikipedia.org/wiki/Alexei_Navalny [2] https://en.wikipedia.org/wiki/Ilya_Yashin https://en.wikipedia.org/wiki/Ilya_Yashin [3] https://en.wikipedia.org/wiki/Boris_Nemtsov https://en.wikipedia.org/wiki/Boris_Nemtsov
Hoefner 3y ago
Can't russians just use and deposit usd or any other currency instead?
- onlyrealcuzzo 3y ago
  Sure - if they have some bank that isn't sanctioned (AFAIK there are 0 domestic banks not sanctioned) - or money already outside of Russia (only the rich, and most of the mega rich are sanctioned individually).
  - flamey 3y ago
    you know wrong
  - pshirshov 3y ago
    Unfortunately no. Gazprombank, Raiffeisenbank and Rosselkhozbank are partially sanctioned but operational - they allow to do swift transfers, their own native transfers to select post-soviet countries and their unionpay cards work relatively well outside of russia.
- victorbjorklund 3y ago
  And where will they convert their rubels to USD?
  - Hoefner 3y ago
    Probably lots of countries and people still doing business (and trading) in russia who needs RUB. So p2p crypto exchange or cash
reisse 3y ago
Nah, it's your take that is ill-informed. If you want to convert rubles to crypto, you just do P2P on the Binance or on any other exchange. Basically, exchange provides a list of verified merchants to whom you can deposit rubles directly via any kind of means (card-to-card, FPS, cash, you name it), and these merchants top up your crypto wallet. It takes like two minutes to buy USDT. And it also works in other direction. As for deposits, there was no reasonable way to deposit rubles on Binance anyway since VISA and Mastercard blocked international payments. Now it's just cleaning up the leftovers so Binance can legally say "we don't work with Russia anymore".