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Woah, and trump wants to set up a bunch of US bitcoin stuff that will massively pump up its value and give Russia free billions on their holdings???
I never would have guessed!
Strategic Bitcoin
ReservePump & Dumpahhh. ok. This does explain why trump and the republicans want to trade in a portion of fort knox for bitcoin. Its definitely a pump and dump scheme – a bailout of the russian economy. Gotta hand it to Putin, thats clever. Get the American taxpayer to bail out Russia. I bet it works.
Ahhh thats where Apartheid Clyde comes in, if theres one thing he knows it’s stock manipulation.
Yeah, but Elon wants people to invest in Doge. So what will Trump do?
in the crypto space, the trading values of most coins are loosely tied to bitcoin’s value- it’s sort of a “reserve currency” of the cryptosphere, most major trading platforms focus on converting Bitcoin to and from other coins. If BTC goes up, the rising tide lifts most/all boats in the space.
Stablecoins excluded, obviously.
Lots of other shitcoins too.
I’m sort of torn on whether it’s a good thing that this is possible.
Like, I don’t think it’s good for Russia to be able to keep doing what they’re doing, but US sanctions are also often used for evil (IMO) so in those cases the existence of methods to evade them could be good.
It’d be nice if the sanctions were only used in good ways in the first place, but that’s not currently the reality.
US embargo on Cuba is inhumane for anyone needing an example
Yeah. I’m glad there are ways to spend money that are untrackable. I’m not glad Russia has access to them.
If you think crypto is utrackable, you haven’t been paying attention.
The entire ledger of every transaction ever made, is 100% public.
The only reason it’s kind of anonymous, is that the wallet ids are random strings of characters.
But the second you know whose a wallet is, you can go back and see every place their money has ever been, as well as transparently watch every place it will ever go.
HUGE numbers of wallets have already been deanonymized, and that’s a process that can’t be undone. Sure you can make a new wallet, but if you move your money into it from your old one, it’ll be pretty obvius who you are.
If bank accounts were replaced by crypto wallets, everyones transaction history would effectively reveal who they are, since the ids of hospitals, shops, websites and services would have to be public.
Matching that transaction data with even a little bit of personal info about someone would be beyond easy.
No one could anonymously move money ever again.
Yeah hilariously, cash is actually more untraceable. Anything digital can eventually be tracked. It’s not easy, but it’s doable.
That is true for Bitcoin and most crypto tokens, but not for some that specialize in privacy, like Monero or even Ergo with ErgoMixer.
BTC is trackable, its just immune to sanctions due to not being tied to any body of government.
BTC is very trackable, ZCash and Monero are coins that strive for privacy. Watch ZCash spike as BTC gets cashed out just before BTC retraces down 40%. Has happened for the last 2 or 3 all time highs. That’s how they will mix their Ill gotten gains.
simping for the russian invasion huh. Good luck with that.
I said “I don’t think it’s good for Russia to be able to keep doing what they’re doing”
I don’t know how you could interpret that as simping for the Russian invasion.
I’m just not going along with the “This helps Russia therefore it is totally bad” knee-jerk. A tool that helps bad people could also help good people. And it probably does, because US sanctions are definitely on the wrong side a lot of the time (although I think they are on the right side regarding Russia’s invasion).
It’s Cryptocurrency, therefore it is totally bad.
Fair. It’s definitely got a lot of other bad things going on as well.
