Post
Topic
Board Bitcoin Discussion
Re: To what extent are Russians capable of storing their riches in Bitcoin?
by
NeuroticFish
on 01/03/2022, 20:22:45 UTC
You came up with the ultimate irony, that there is currently little means for Russians to do this even if they wanted to right now. I'm not sure what Russian cryptocurrency exchanges are active but with Visa and MasterCard now banning their transactions it leaves few methods to fund bitcoin purchases. Besides that, Russians are more used to storing their wealth in dollars or gold in times of crisis - but the exchange rate they'll get right now is much lower than last week. Sadly all Russians are going to have to pay for Putin's murdering rage.

I see no irony here. No matter what wants one to purchase, if his money is locked in a crippled banking system, he cannot do much.
And the window of opportunity - e.g. actual sellers of Bitcoin for the plummeting RUR - may be closing; after a certain level of inflation it may become bad business to sell no matter how big the premium is.
I also don't think that XAU or USD can be bought in "better conditions".


Yes, sadly the Russians pay for this and may do for long time. But it's their own president, their own army invading there. So it's them who may have to do something against this crap. After all, with all the army and staff, what could he do if 140m Russians rise against him? But yes, it's very difficult to do such a move.