Quote from: swogerino on February 28, 2022, 11:54:14 AM

Quote from: BenjaminGlover on February 28, 2022, 11:23:22 AM

The Ruble is rapidly losing value, and the Russian government is considering seizing residents' cash.

Bitcoin appears to be an obvious solution for preserving your wealth in this circumstance.

However, is this even possible? What would a Russian do in this situation? Are they able to just transfer their Rubles to exchange, purchase Bitcoin, and then transfer it to a wallet?

And, if so, is it attainable? Will someone who has worked their entire lives and saved money for their family's future trust a strange technique to transfer that money to a USB stick?

Russian government has not issue a seizing order yet and they are allowing people to withdraw cash.Big lines are already being spotted all over the Internet in St.Petersburg waiting in line to withdraw their cash.As for Bitcoin they have no way how to transfer their cash to exchanges if they do it through the bigger banks because they are out of the SWIFT,however not all the banks as of right now are out of the SWIFT and if any individual has any account in less powerful banks in the ones who has not suffer ban from the SWIFT can send money to exchanges and buy Bitcoin.Safety is always a problem in Russia when we know how their government is so a hardware wallet which is small enough to keep with you is the best option to save your Bitcoins.I don't see any other alternative to their money except Bitcoin,they need to be wise otherwise they are already used to being poor as a nation (excluding the oligarchs).

It is necessary to understand that only those citizens of Russia who are well versed in it and trust it can turn to cryptocurrency in this situation. Across Russia, these are a small percentage. And the situation will develop very quickly. If the government, due to international sanctions and the critical financial situation, intends to confiscate the deposits of the population, it will very quickly block them.
If the government does not do this, it will be done by a group of hackers calling themselves Anonimius, who said they are giving the Russians until March 03 to withdraw their deposits. After that, their funds will be transferred to the accounts of the Armed Forces of Ukraine due to the aggression against Ukraine.