NOT good news... Will privacy coins like Monero now gain, while Bitcoin itself takes a hit??

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Martin Everson

Offshore Retiree
Staff member
Mentor Group Gold
Elite Member
If true then smart move by Russia to front run potential US actions thu&¤#. Been a couple of Russians arrested/facing extradition to US for operating cryptoexchanges etc that are nothing more than laundromats. Best to take action yourself than allow the US to take action. US are just looking for any excuse to shut Russia out of US banking system so why give them that power.

Sorry but too much dirty money flowing around Russian controlled crypto operations as they operate offshore in CEE countries and Dominica bor&%#.
 

Dasboot

Active Member
Thats a very good point, might well be true!

But this cannot be good for crypto and Bitcoin as a whole...

Its really being split into a grey and white market now, perhaps with actors like Coinbase being the only ones left standing?

Perhaps a law like this will have an exemption for 100% traceable on-ramps...
 

whereami

New member
The dirtiest money out there is money imho.

And Russia has a lot of it. 99% Not in crypto.

Fiat is being questioned worldwide as governments can't stop printing it. I only see this as an attempt to slow the inevitable and growing adoption of crypto.

Privacy has always been a good thing, since money was invented. Monero, Zcash etc.
 

Martin Everson

Offshore Retiree
Staff member
Mentor Group Gold
Elite Member
In the end the only thing that matters about crypto is what the US stance is on it and not Russia's or any other country. If US feel they can supervise it via US crypto exchanges then it will flourish. If they feel its a threat to their control of the global financial system then they will crush it. Simply blacklisting it for their banks means every bank in world (bar a couple) will blacklist it due to federated nature of US sanctions and blacklisting followed by all banks globally.

Issue I see is that greater adoption of this parallel financial system (crypto market) will put it in danger.
 

Dasboot

Active Member
In the end the only thing that matters about crypto is what the US stance is on it and not Russia's or any other country. If US feel they can supervise it via US crypto exchanges then it will flourish. If they feel its a threat to their control of the global financial system then they will crush it. Simply blacklisting it for their banks means every bank in world (bar a couple) will blacklist it due to federated nature of US sanctions and blacklisting followed by all banks globally.

Issue I see is that greater adoption of this parallel financial system (crypto market) will put it in danger.

Agree... BUT on one condition: that the petrodollar has NOT failed in the interim!

It will fail at some point, but how long will that take? Will there be a major war before we reach that point?

In some ways hyperinflation is the best scenario...
 

Silvio

Entrepreneur
If anybody thinks that central banks will give up on their power to PRINT MONEY and will give it away to nerds... I got a bridge in Brooklyn to sell you.
 

Dasboot

Active Member
When they've printed enough someone will buy the REAL bridges with gold, or maybe crypto, who knows! ;-)
 

Martin Everson

Offshore Retiree
Staff member
Mentor Group Gold
Elite Member
It will fail at some point, but how long will that take? Will there be a major war before we reach that point?

Yes it will fail at some point. However that point may not be in your lifetime. Also when you say war it depends who it goes to war with. The US will never take on a credible enemy as thats not how bullies function.
 

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