Quote from: Renampun on March 16, 2022, 08:11:51 PM

Quote from: countryfree on February 24, 2022, 01:52:37 PM

I'm reading many articles explaining that Russia shall be cut off from the SWIFT global interbank payments system, as a sanction in response to its invasion of Ukraine. That means it would be impossible to make bank transfers between Russia and most other countries.

I see this as an absolutely fantastic opportunity for BTC.
If you can"t use banks, just use BTC and be happy.

bitcoin is a currency there is no manipulation, and also very decentralized...

without SWIFT then all Russian citizens who are accustomed to using banks for transfers or other activities internationally will be cut off, and with bitcoin, it is a way out to transfer internationally freely and safely. bitcoin only -> Russia's way out to stay in touch with the outside world, especially transactions.

The crypto itself might be decentralized, but the exchanges and the connection between crypto and your bank account is centralized. Which means that if Russians wants to turn billions into crypto, they would have to use banks.

In their own nation, they could make it legal and supported, but then they would only have crypto, where could they cash that out to fiat again? Not in another nation, that would be hard because of the sanctions. All in all, it is not impossible to turn ruble into crypto into euro or dollars, there are ways you could do that but between being very expensive and also possibility of your fiat getting frozen, it is very risky.