Not really - they just need to have access to their money. The ruble crashed today in part because $300B was taken out of their treasury. If it was in Bitcoin, they would still have their $300B there to support their currency. They could sell Bitcoin and buy Rubles instead of selling US Dollars and buying Rubles, which is what they were doing last week to support their currency (not very successfully). There are two different things here - having your money and spending your money. If they had Bitcoin and Bitcoin had a massive market, they could sell the Bitcoin to get Rubles to pay their workers or military or whatever else if needed. They wouldn't be relying on any international banks or agencies to access their money. Other international santions on goods and services are a different deal, but they could still buy goods from China or Israel or any other country that isn't part of western sanctions.
In theory it means Russia attacks a member of NATO and starts WWIII. At the very least, this would pretty much guarantee NATO intervention into Ukraine.
It isn't but we're dealing with a country with the largest nuclear arsenal in the world. So there are huge possibilities once Article V is invoked.
Lol, ok... More like ALL on 1 at that point, if the nukes get mitigated, Russia gets chewed up by the USA, Europe, India and China (and probably some crumbs for a few other countries). It will be the biggest land grab in world history.
I read about that ironically, on Fox. I guess it's making the rounds. Yes, F Putin I agree 100%. At the same time we should all know that this happens in war, and when we hit other countries with our bombs even when many times we don't target civilians, children get hit and die. We say its collateral damage but its still the same tragedy. Most wars are stupid, including this one.
Putin does worry me and is making me a little uneasy..If he knows his days are numbered due to the current conflict, I can see him bringing down human civilization with him...It's far fetched but is it..?
Right but my point was that it wouldn't be as effective because it's treated more like a futures stock than actual currency. It's also a stock that would be more aligned to the risk of a small start up rather than Apple or Google stock. Could Biden (if it was legal) trade stock of Apple to Boeing executives in order to buy blackhawk helis??... Maybe. Could Biden (if legal) in a pinch buy Blackhawks from Boeing with start up stocks?? That's why I don't think Crypto will be effective in purchasing real goods and services for Putin. The person he's trading Crypto for goods for would be a pretty big gambler. If they used Crypto as a laundering device (trade for crypto, then immediately sell for currency) then maybe that would work, but a major sell off of Crypto in a large arms deal would tank the value of that crypto in one fail swoop I'd think. I dunno, just doesn't seem viable to keep the Russian military funded over the course of months.
would you look at the end. This was posted years ago. From spy to president: The rise of Vladimir Putin - YouTube
Xerobull was talking about a world where crypto is a primary form of currency/investment - not Russia owning crypto today. That's the utopia that crypto proponents talk about - a world where your money is yours and no one can access it and it's more stable than Bitcoin is right now. Something like $150B of Russia's foreign currency reserves are in gold bars stored in Russia - that's what they still have access to after the central bank freeze. This would be the same, except it's a huge hassle to transport and sell gold bars.
There are more powerful figures than Putin in the Kremlin. They'll offer him up before they lose their own power and money.
