Russia might accept bitcoin as payment for gas & other ressources

[Martin Everson]

JohnnyDoe said:
Sooner or later everyone will be without a bank account
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In a distant Orwellian future we will all be given a CDBC address tattooed to our nut sacks or something. Then with CDBC's it will be the only "official" means of transacting as we go totally cashless 😕.

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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[void]

Martin Everson said:
In a distant Orwellian future we will all be given a CDBC address tattooed to our nut sacks or something. Then with CDBC's it will be the only "official" means of transacting as we go totally cashless 😕.
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maybe not that distant looking at the private property and personal freedom violations in the past two doom and gloom years supported by "mostly peaceful democratic voters"

anyway there is also visible resistance that I wouldn't expect couple of years ago - so I'm optimistic

 

[Golden Fleece]

void said:
maybe not that distant looking at the private property and personal freedom violations in the past two doom and gloom years supported by "mostly peaceful democratic voters"
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It is disconcerting how all the people who constantly whine about the increasing "private property and personal freedom violations" in the West (which is no doubt true) are the biggest supporters of those societies that have evolved to become crueler and more totalitarian far more rapidly (e.g., Russia and China).

The wealthy from Russia and China have long sought passports and property in the West, but I do not see many wealthy Westerners immigrating to Russia and China to live.

 

[JohnnyDoe]

Golden Fleece said:
Anyone from Russia and China money and power have sought passports and property in the West, but I do not see many wealthy Westerners traveling to Russia and China to live.
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I have never seen anyone happy of the place where he lives. Must have to do with the nomadic nature of man.

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[void]

Golden Fleece said:
It is disconcerting how all the people who constantly whine about the increasing "private property and personal freedom violations" in the West (which is no doubt true) are the biggest supporters of those societies that have evolved to become crueler and more totalitarian far more rapidly (e.g., Russia and China).
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I personally don't know one single person of that kind and don't see any signs of that anywhere

maybe you misinterpret stances of some people that measure the same to both side of the conflicts

anyway all governments are criminal organizations by definition - the only difference is whether you see it already or not yet - nothing more to say

 

[Golden Fleece]

void said:
I personally don't know one single person of that kind and don't see any signs of that anywhere
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Many people in this forum are exactly like that -- and it is truly mindboggling. It is as if they have some psychological disconnect with reality. They whine about "private property and personal freedom violations" in the West while the nations that they defend engage in genocide or a militarily invasion of their neighbors. Much less do these countries care about anyone's "private property and personal freedom."

 

[JamesDonkey]

Bagpacker said:
Limited number of coins is not the problem. Liquidity is the problem.
Liquidity is even lower with Alt-Coins. Moreover, most of them are centralised - a complete "no go" for the Kremlin.
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Liquidity, centralized, most of the alt-coins... What are you talking about? You've generalized all alt-coins and if they all were the same and therefore have made wrong conclusions.

 

[backpacker]

JamesDonkey said:
Liquidity, centralized, most of the alt-coins... What are you talking about? You've generalized all alt-coins and if they all were the same and therefore have made wrong conclusions.
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Nothing wrong with my conclusion:
Read again what was asked (-> crypto alternative for large volume), what I replied to that question (-> not feasible because of lack of liquidity) + what this thread is all about (-> BTC as payment for oil- & gas resources)!

 

[troubled soul]

Mean while
https://twitter.com/x/status/1506769001040551937

https://t.co/lJ5TVUTneG
https://t.co/q87rA0MVYY

 

[backpacker]

azb1 said:
Mean while
https://twitter.com/x/status/1506769001040551937

https://t.co/lJ5TVUTneG
https://t.co/q87rA0MVYY
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Reading this -> Confirmed: Anonymous Hacks Central Bank of Russia; Leaks 28GB of Data I doubt the data contains anything of relevance the Kremlin cares about.
During times of war a government does not store relevant financial information on an easily hackable server with a Central Bank. Same with the previous hacks against certain Russian state owned companies. Plenty of publishing without substance.

Sadly, there is currently no unbiased information available - that's the nature of a two-block war.

Last edited: Mar 26, 2022

 

[clemens]

void said:
convertibility of BTC to fiat through banks is of course a good thing but less and less important - majority of those who hold BTC have sources of liquidity and having positive cash flow of fiat from the "old world" - they do it because there is NO alternative where to conserve products of their work
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can't agree more with you.

BTC and cryptocoins general speaking are already on the rise up.

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[Don]

Im just going to leave it here. I think Dr. Werner summarizes it very well.

 

[Golden Fleece]

Don said:
Im just going to leave it here. I think Dr. Werner summarizes it very well.
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He did not summarize anything. He did not even mention that demanding payment in Rubles would be a unilateral breach of every Russian contract for natural gas and oil. Many countries, who are able to do so, would simply walk away from those broken contracts. At the very least, they would seek to renegotiate all the terms of those contracts, including prices (during a time when Russian oil sells at a huge discount).

Moreover, the move is likely to speed up European efforts to reduce its dependence on Russian gas and oil, which is counterproductive for Russia in the long term. Indeed, Russia will not win a thing if the West refuses his demands and simply stops gas and oil imports over time. Such one-sided stories are typical of the Russian propaganda spewed out on Russia Today.

 

[JackAlabama]

Golden Fleece said:
He did not summarize anything. He did not even mention that demanding payment in Rubles would be a unilateral breach of every Russian contract for natural gas and oil. Many countries, who are able to do so, would simply walk away from those broken contracts. At the very least, they would seek to renegotiate all the terms of those contracts, including prices (during a time when Russian oil sells at a huge discount).

Moreover, the move is likely to speed up European efforts to reduce its dependence on Russian gas and oil, which is counterproductive for Russia in the long term. Indeed, Russia will not win a thing if the West refuses his demands and simply stops gas and oil imports over time. Such one-sided stories are typical of the Russian propaganda spewed out on Russia Today.
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How can Europe do that? Solar and Wind cannot cut it as its winter like 6months out of the year.

 

[Golden Fleece]

JackAlabama said:
How can Europe do that? Solar and Wind cannot cut it as its winter like 6months out of the year.
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How can you even ask such a question? If your local gas station closes, what do you do?

It is not as if Russia is the sole source of oil and gas. It is just that it is the most cost-effective source for Europe right now. This war and its humanitarian crisis has forced Europe to seek other sources, despite the higher cost. Europeans now see that those who warned that Europe should not rely on Russia for its energy, because it would be used for blackmail purposes, were correct.

Russia made the gamble that Russian oil was more important to Europe than Russia acting in a civilized manner. It lost that gamble and it shot itself in the foot. For example, the U.S. is now reversing President Biden's retarded energy policies. Moreover, high energy prices now make it cost-effective for fracking and other high expenditure oil drilling methods. There is plenty of oil, if you pay the price for it.

What is more important to Europe: the lowest possible energy prices or freedom from war and blackmail? Europe will make the rational choice, helped along by Russia's display of war and aggression.

JackAlabama said:
How can Europe do that? Solar and Wind cannot cut it as its winter like 6months out of the year.
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In 2021, the European Union imported roughly 40% of its gas and 25% of its oil from Russia ”” an economic relationship that officials had thought would prevent hostilities, but is instead financing them.

While some are calling for an immediate boycott of all Russian oil and gas, the EU plans to reduce Russian gas imports by two-thirds by the end of this year, and to eliminate them altogether before 2030.

This “will not be easy,” said Paolo Gentiloni, the EU's top economic official. But, he added, “it can be done.”
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https://www.newsmax.com/world/globaltalk/russia-ukraine-war-energy-security/2022/03/27/id/1063040/

Last edited: Mar 27, 2022