Re: Russia cut off from Swift is fantastic opportunity for bitcoin
Bitcoin isn't viable right now in Russia, but the point of this post is that it accelerates the adoption of crypto because they remain immune from sanctions. USD is currently the dominant currency on the global market, but the Russians (and Chinese, for that matter) understand it takes almost nothing for the U.S. to freeze assets indefinitely, locking them out of billions without any form of recourse. Sure, the exchanges will be difficult for now, but 10 years down the line you could see massive adoption.
Exactly. The SWIFT ban will force Russian people to join the Bitcoin bandwagon in order to protect their purchasing power as much as possible. That, and the fact that the Russian government is starting to look for alternative ways to become self-sustainable should make Bitcoin and other cryptocurrencies rise in mainstream adoption like never before. We ain't seen nothing yet, as the best is yet to come.
Undeniably, mainstream governments will try to pressure centralized exchanges to exclude Russian customers from getting access to Bitcoin. But they will ultimately fail as Bitcoin's decentralized and open source nature allows you to acquire it regardless of mainstream regulations. Decentralized exchanges will surely take off if countries begin to ban centralized exchanges for good. Bitcoin may still be far from its latest ATH, but it will get there soon as the global economy sinks deeper. Who knows if Fiat collapses for good, paving the way for full "hyperbitcoinization"? Just my thoughts
