Russia

[dimejinky99]

All reminds me of that saying. From that Russian too

“There are decades where nothing happens; and there are weeks where decades happen” – Vladimir Ilyich Lenin.

[tragabigzanda]

FUCK ICE

[tragabigzanda]

FUCK ICE

[elliseamos]

All reminds me of that saying. From that Russian too

“There are decades where nothing happens; and there are weeks where decades happen” – Vladimir Ilyich Lenin.

I Am the Walrus

Shut up, Donny.

[simple schoolboy]

Seems like maybe a bad thing that we are forcing Russia to economically integrate with China?

[tragabigzanda]

FUCK ICE

[BurtReynolds]

I'd prefer a tripolar world to a bipolar one, but they both beat a unipolar one!

"But Burt, we have to root for our team!"

Our team? It's a small club and you ain't in it!

[Mickey]

The rise of the Chinese economy is not going to co-exist with the US cycle of accumulation, please read a book.

[tragabigzanda]

FUCK ICE

[Mickey]

The rise of the Chinese economy is not going to co-exist with the US cycle of accumulation, please read a book.

The rise of the Chinese economy is built on the lie that their middle class is thriving, please read a book.

That is not how capitalist accumulation works baby!

[Mickey]

But in any case, I am replying to Burt, who seems to think there will be some kind of two-pole (or even three-pole) global economy as anything other than a transitional phase.

*Bzzt* wrong.

[BurtReynolds]

But in any case, I am replying to Burt, who seems to think there will be some kind of two-pole (or even three-pole) global economy as anything other than a transitional phase.

*Bzzt* wrong.

One can still hope.

[tragabigzanda]

FUCK ICE

[dimejinky99]

The Russian economy will by all accounts be a subservient little bitch in a relationship with the Chinese economy. But it was Always headed that way.

Also being said it’s one of the main reasons Putin won’t go all out because China just won’t allow it. I’m not sure I buy that though.

[tragabigzanda]

FUCK ICE

[tragabigzanda]

FUCK ICE

[Anders]

Don’t forget about Europe.

[BurtReynolds]

The relationship between China and Russia has always been strange to me. They don't seem to get along well.

[spike]

Read the article, they discuss a certain currency that’s already got a hold on both Russia and Western Europe. Apparently the exchanges are done in-person, at specific places that you can find out about via the block.

“Wallets are traceable” isn’t really the case, not practically speaking. But I think it a great point you have about markets mooning!

dude i thought you were further along in your crypto jedi training in this wtf

'russia to evade sanctions using crypto' means their government, or sanctioned individuals, would seek to transmit large sums of money via crypto

The russian central bank has approx $670 Billion in foreign assets frozen that they can't move. 'using sanctions to evade crypto' would mean using traditional assets (likely rubles) to buy crypto, sending it to someone, who then receives it and keeps the crypto or converts it back to fiat currency (the latter more likely)

To transform fiat into crypto and vice-versa ('on ramps', 'off ramps') are only capable via centralized exchanges which have connectivity to banks. Those centralized exchanges on board individuals and institutions, not anonymously (for amounts greater than $10,000). Centralized exchanges (CEX) can be monitored, exchanges can be shut down. Exchange owners can be indicted or subpoena-ed or sanctioned themselves. Centralized exchanges are necessary to on/off ramp fiat. They are not anonymous.

Every transaction between crypto accounts is on a public ledger, you can see where it comes and goes - the question becomes 'what person owns this account' (string of numbers and letters) - even for 'hot wallets' (not on an exchange) you follow the transactions far enough and it gives you some clues as to who it might be, because it ultimately ends up 'somewhere' and is used for something. But to get it back into fiat, it has to go through a CEX, and CEX's mean you lose anonymity.

The size of the entire crypto market right now is $2 Trillion, most of that is BTC sitting in cold wallets with legacy whales, not being traded. Any $670B buys would make the market explode. And any $1B, or even $100MM buys, would be very visible - given how closely traders and technical analysts watch crypto markets, how segmented the markets are (all exchanges are their own siloed ecosystem and own market makers), and given how weak crypto markets have been since November (any whale dropping 9-figure+ tickets is noticed)

no one is moving any meaningful amount of 'sanctions money' and getting away with it using crypto

(edit) and this Treasury official agrees:

Treasury officials say they aren’t overly worried about crypto undermining the effort to choke off the Kremlin’s access to capital. Laundering large amounts of money through a dizzying array of digital wallets and exchanges is expensive, time-consuming and would likely be visible in the broader crypto market, given the massive investment portfolios of individuals and institutions named in the sanctions.

“The scale of what they have to move, and where they have to move things from, [crypto’s] not necessarily going to be that concerning,” said Todd Conklin, counselor to the deputy Treasury secretary. Any attempt to move that much money through exchanges would contribute to “a bit more of a spike in the crypto market, in my view, than has been observed lately.”

I AM AWARE!

Again, the article specifically covers an exchange that was being used here that, if I’m reading correctly, only happens in person, in specific locations. And again, laundering through crypto is common.

But again, I think your prior point about the volume limit of the currencies was astute. And in any event, if the US officials are saying they’re not overly worried, I’m glad to take that at face value.

But for the love of Satoshi don’t you ever question my understanding of crypto again!

EU will take measures on cryptocurrencies to prevent Russia from bypassing sanctions

[96583UP]

But for the love of Satoshi don’t you ever question my understanding of crypto again!

did you take my advice?