You may not be interested in sanctions...

[Frank in Bangkok]

.
You may not be interested in sanctions ...
but sanctions are interested in you.

This comment from Backpacker started me thinking:

backpacker said:
Ask Russians if they still can still place an order to sell their segregated gold with BullionStar and if they then can get the proceeds transferred to their bank account ....
Click to expand...

Right now, "The West" is using sanctions, and "The Rest" are suffering.
What happens when "The Rest" start using sanctions against "The West"?

I have an account in Malaysia.
What if some kind of "special military action" between China and the USA. (Nothing to do with Malaysia.)
China sanctions bank accounts of Western countries doing business in China.
Malaysia is next-door neighbour to China.
Boom! Sudden sanctions in Malaysia -- account frozen because my passport is now the "enemy".

#1 - That money is "dead" to me. I'll never be able to recover it.

#2 - Who gets the money?

Thoughts, please.

 

[Jorozey]

Every sanction imposed by the West against Russia is just another nail in the coffin of the Western Economy.

If I were you, I would worry about military action between China and Taiwan. Try to spread your wealth between Bitcoin - the digital gold and physical gold. Personally, I prefer Bitcoin because no one can take it from you and you can transport it to the other side of the planet, you just need to remember or find a way to store recovery phrase series of 12 to 24 words.

Don't keep all your money in the hands of the banks, it won't end well for those who do this.

Kind regards,
Georgi

 

[Martin Everson]

Jorozey said:
Don't keep all your money in the hands of the banks, it won't end well for those who do this.
Click to expand...

This I agree with.

The western tool of sanctions will continue to backfire long term. In the end you want to diversify into some non-bank assets.

P.S Thread moved to correct area. @Frank in Bangkok Please pay attention under which section you make posts.

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

 

[Samman Kaseeb Sleiman]

I don't know what's worse: sanctions or bloody fear-mongerers on this forum such as @Frank in Bangkok


China is more "next door" to ... Russia, than Malaysia to China.
Why hasn't the West sanctioned China?
Boom!

Turkey is next door to Russia and they're actively trading.
Why hasn't the West sanctioned Turkey?
Boom!


Even the US is next door to Russia, in a certain sense.
Why hasn't the US sanctioned the US?
Boom!

Even russians in the sanctioned Russia continue to get by, somehow. And the million of sanctions haven't broken them, what then will?
Boom!

There's crypto. As if you have never heard of it.
Boom!


The role of the West is diminishing, and so will its economical power. And so too the sactions -- they'll become less relevant, if it even continues to use them at all.
Boom!


There're Latin America, Middle East and even Russia itself which now starting slowly but surely to use its own alternatives to SWIFT and Visa/MasterCard, establishing connections with other, non-Western, countries.
And where YOU could open an account.
Boom!

And Russia no longer shares bank information with the Western countries and US.
Boom!


In other words, when and if a problem presents itself, should one then try to handle it. It may not arrise during your lifetime.
Boom!

P.S.
I alread foresee your money exploding in a Malaysian bank. Boom! Boom!
Rush!

Last edited: Dec 31, 2022

 

[extremedox101]

Jorozey said:
Every sanction imposed by the West against Russia is just another nail in the coffin of the Western Economy.
Click to expand...

i think it's like fight between looney toons characters someone smash and other one run to avoid damage. just for drama but usa understand this situation will effect weak countries economy more than russia

 

[Jorozey]

extremedox101 said:
i think it's like fight between looney toons characters someone smash and other one run to avoid damage. just for drama but usa understand this situation will effect weak countries economy more than russia
Click to expand...

I don't know how much you are willing to believe in marked as "conspiracy theories", but for me they are the pure truth, and everything that happens is not a coincidence.

The last 3 years have witnessed the controlled and coordinated destruction of the world economy, as well as the end of the dominance of the dollar. We will hear more and more about CBDC, but how would they get people to accept it? It is necessary that the old financial system to be destroyed and crumbled into dust, so that they can build the new one on the CBDC and the emergence of UBI (universal basic income), removal of physical cash and total enslavement of the masses.

Cash is one of the last remaining freedoms of the masses, once digitized by the central banks you no longer own it, it can be frozen if you protest, disagree or post on social media against the ruling party. They can exclude you from society without access to food and healthcare.

This is exactly why I choose Bitcoin as a hedge against all of this. It cannot be censored and it cannot be taken away from you. We can look to China and their inhumane Social Credit System with Universal Basic Income and Social Rating, which the Western Elite is clearly trying to push through today.

Clearly we are talking about the 1% vs 99%

 

[Radko]

Jorozey said:
I don't know how much you are willing to believe in marked as "conspiracy theories", but for me they are the pure truth, and everything that happens is not a coincidence.

The last 3 years have witnessed the controlled and coordinated destruction of the world economy, as well as the end of the dominance of the dollar. We will hear more and more about CBDC, but how would they get people to accept it? It is necessary that the old financial system to be destroyed and crumbled into dust, so that they can build the new one on the CBDC and the emergence of UBI (universal basic income), removal of physical cash and total enslavement of the masses.

Cash is one of the last remaining freedoms of the masses, once digitized by the central banks you no longer own it, it can be frozen if you protest, disagree or post on social media against the ruling party. They can exclude you from society without access to food and healthcare.

This is exactly why I choose Bitcoin as a hedge against all of this. It cannot be censored and it cannot be taken away from you. We can look to China and their inhumane Social Credit System with Universal Basic Income and Social Rating, which the Western Elite is clearly trying to push through today.

Clearly we are talking about the 1% vs 99%
Click to expand...

I'm not sure what you're talking about as the dollar has been the strongest currency in the world by far during 2022, reaching .95 against the Euro while your dear Bitcoin has gone down by around 70%, I think you've made the wrong choice my friend

 

[void]

Radko said:
I'm not sure what you're talking about as the dollar has been the strongest currency in the world by far during 2022, reaching .95 against the Euro while your dear Bitcoin has gone down by around 70%, I think you've made the wrong choice my friend
Click to expand...

wrong time scale, buddy

 

[Jorozey]

Radko said:
I'm not sure what you're talking about as the dollar has been the strongest currency in the world by far during 2022, reaching .95 against the Euro while your dear Bitcoin has gone down by around 70%, I think you've made the wrong choice my friend
Click to expand...

I think you need to zoom out the picture

BTC value over the time

USD value over the time

 

[Radko]

Jorozey said:
I think you need to zoom out the picture

BTC value over the time

USD value over the time

Click to expand...

Ok let's see...
I know the value of fiat currencies around the world has gone down as the decades have passed, but that's only if you were so naive to keep cash (I don't keep more than $10k in Cash at any given point, I'm always invested in the stock market or in bonds)
I did buy BTC at $4000 as a joke, just to gamble some money, little did I know I would end up selling it at $64000, that was really absurd, pure speculation, a massive bubble that has crashed big-time.

Bottom line is:
Is BTC a currency? Nope
Is it digital Gold? Nope
A hedge against inflation? No way!
So what is it? It's just a digital asset that you can buy and speculate with, as well as a perfect vehicle for scammers to steal your money.
Unless regulations come into place you will not see institutions participating in the Crypto world.
And now that rates are going up and people can't leverage as they did this past decade, I don't see a great future for Crypto, time will tell if regulations come in such a way that will incite people into the Crypto world, but the collapse of so many prominent exchanges isn't helping.

Best of luck, I'm not touching BTC for the foreseeable future.

 

[void]

Radko said:
Is BTC a currency? Nope
Click to expand...

nope, wrong question actually - currency is an instrument to handle function of money backed (sometimes not even that) by an asset that is not convenient to be used directly
good currency is backed by suitable asset (preferably scarce which appears to be the most important property)
BTC is asset/money itself, it's scarce and has other qualities that no other asset in the known universe has, no currency needed anymore

Radko said:
Is it digital Gold? Nope
Click to expand...

it has all the positive properties of gold and many more that gold doesn't have - one can easily say it's digital gold in a way, why not...

Radko said:
A hedge against inflation? No way!
Click to expand...

absolutely
as mentioned above, looking at a year or two is not a good idea

Radko said:
So what is it?
Click to expand...

whatever fits your need - money, means of conservation of value, tool powering or even enabling your business, ...

Radko said:
It's just a digital asset that you can buy and speculate with
Click to expand...

yes, also this
like any other asset with good timing

Radko said:
, as well as a perfect vehicle for scammers to steal your money.
Click to expand...

bad one for this purpose

Radko said:
Unless regulations come into place you will not see institutions participating in the Crypto world.
Click to expand...

missing regulation (especially in US) is not such a big problem for bitcoin
regulation will be end of most crypto projects for sure

Radko said:
And now that rates are going up and people can't leverage as they did this past decade, I don't see a great future for Crypto,
Click to expand...

crypto != BTC
crypto is dead anyways, not just pure scams, ponzi schemes but also "legit" project since most (if not all including ETH and other top ones) are not any different from fiat and will not succeed on the market for obvious reasons

Radko said:
time will tell if regulations come in such a way that will incite people into the Crypto world, but the collapse of so many prominent exchanges isn't helping.
Click to expand...

on the contrary, it's the best for BTC and for all the people that didn't realize what is the only hope and way yet

Radko said:
Best of luck, I'm not touching BTC for the foreseeable future.
Click to expand...

your choice, your loss, market decides, nobody cares


you're welcome

 

[Jorozey]

Radko said:
Ok let's see...
I know the value of fiat currencies around the world has gone down as the decades have passed, but that's only if you were so naive to keep cash (I don't keep more than $10k in Cash at any given point, I'm always invested in the stock market or in bonds)
I did buy BTC at $4000 as a joke, just to gamble some money, little did I know I would end up selling it at $64000, that was really absurd, pure speculation, a massive bubble that has crashed big-time.

Bottom line is:
Is BTC a currency? Nope
Is it digital Gold? Nope
A hedge against inflation? No way!
So what is it? It's just a digital asset that you can buy and speculate with, as well as a perfect vehicle for scammers to steal your money.
Unless regulations come into place you will not see institutions participating in the Crypto world.
And now that rates are going up and people can't leverage as they did this past decade, I don't see a great future for Crypto, time will tell if regulations come in such a way that will incite people into the Crypto world, but the collapse of so many prominent exchanges isn't helping.

Best of luck, I'm not touching BTC for the foreseeable future.
Click to expand...

If you think the main purpose of bitcoin is being a currency. You think the main purpose of a smartphone is making phone calls?


BTC has not failed at anything - it is a emergent/new form of hard, digital, self-custody money which moves at speed of light. The 4-year Sharpe Ratio (risk-adjusted return) of Bitcoin is higher than any other asset by far. Bitcoin is not just a store of value it's a value multiplier, If someone wants to buy and hold an asset for 4 years, there is none better performing than Bitcoin for its entire existence.

No asset class in the world with such a short history as Bitcoin has ever experienced such success, adaption, and value appreciation. With time and maturity, an asset class becomes everyone's go-to alternative for diversifying their portfolio. Bitcoin has never once been offline/down,hacked, duplicated or counterfeited in 14 years. Block after Block after Block. Try to say that about a bank, Country's currency or even a top secret network. Bitcoin is beyond amazing and really young. It's only the largest and most secure network ever created.

And the dollar doesn't even measure or capture value itself. It's a parasitic wealth-confiscation technology. Bitcoin is in it's infancy, trading like a risk asset like the rest of them because the centralized & slow money we use is corrupted.

The main purpose is give individuals control over their own wealth. Second, to secure your own wealth safely (from a bank or currency collapse) and a way for people to have unconfiscatable "gold". Freedom and ability to transact.

Yeah! What a failure!

*Ignore Bitcoin at your own risk. 🙂

 

[Radko]

Jorozey said:
If you think the main purpose of bitcoin is being a currency. You think the main purpose of a smartphone is making phone calls?


BTC has not failed at anything - it is a emergent/new form of hard, digital, self-custody money which moves at speed of light. The 4-year Sharpe Ratio (risk-adjusted return) of Bitcoin is higher than any other asset by far. Bitcoin is not just a store of value it's a value multiplier, If someone wants to buy and hold an asset for 4 years, there is none better performing than Bitcoin for its entire existence.

No asset class in the world with such a short history as Bitcoin has ever experienced such success, adaption, and value appreciation. With time and maturity, an asset class becomes everyone's go-to alternative for diversifying their portfolio. Bitcoin has never once been offline/down,hacked, duplicated or counterfeited in 14 years. Block after Block after Block. Try to say that about a bank, Country's currency or even a top secret network. Bitcoin is beyond amazing and really young. It's only the largest and most secure network ever created.

And the dollar doesn't even measure or capture value itself. It's a parasitic wealth-confiscation technology. Bitcoin is in it's infancy, trading like a risk asset like the rest of them because the centralized & slow money we use is corrupted.

The main purpose is give individuals control over their own wealth. Second, to secure your own wealth safely (from a bank or currency collapse) and a way for people to have unconfiscatable "gold". Freedom and ability to transact.

Yeah! What a failure!

*Ignore Bitcoin at your own risk. 🙂
Click to expand...

I know how Bitcoin lovers think, you guys are all the same, full of wishful thinking.
I honestly don't care about what BTC is, or could be, I only car about investing and making money, that's it! And BTC is not an investment, it literally isn't anything other than something you can speculate with, and I'm not into speculation, so anyway if you guys love BTC fine, keep all your money in BTC and all the best.
One day I hope someone explains why there is a little army of people trying to convince others to get into BTC, it's a Ponzi scheme where unless other people participate in the whole thing will come crashing down, as it has, sadly I know a few people that have lost a lot of money after they were talked into buying BTC and after listening to all the nonsense that has been said about it, the facts are undeniable, Bitcoin is not a good investment and wishful thinking is a terrible investment strategy.
As I always say, disappointment is an excellent teacher.
Best of luck

 

[extremedox101]

Jorozey said:
I don't know how much you are willing to believe in marked as "conspiracy theories", but for me they are the pure truth, and everything that happens is not a coincidence.

The last 3 years have witnessed the controlled and coordinated destruction of the world economy, as well as the end of the dominance of the dollar. We will hear more and more about CBDC, but how would they get people to accept it? It is necessary that the old financial system to be destroyed and crumbled into dust, so that they can build the new one on the CBDC and the emergence of UBI (universal basic income), removal of physical cash and total enslavement of the masses.

Cash is one of the last remaining freedoms of the masses, once digitized by the central banks you no longer own it, it can be frozen if you protest, disagree or post on social media against the ruling party. They can exclude you from society without access to food and healthcare.

This is exactly why I choose Bitcoin as a hedge against all of this. It cannot be censored and it cannot be taken away from you. We can look to China and their inhumane Social Credit System with Universal Basic Income and Social Rating, which the Western Elite is clearly trying to push through today.

Clearly we are talking about the 1% vs 99%
Click to expand...

yes i believe more in conspiracy theories , particularly since corona virus they started big hoax there no reason to think of natural causes behind conflicts / other emergencies .

 

[jjrapy]

Radko said:
I know how Bitcoin lovers think, you guys are all the same, full of wishful thinking.
I honestly don't care about what BTC is, or could be, I only car about investing and making money, that's it! And BTC is not an investment, it literally isn't anything other than something you can speculate with, and I'm not into speculation, so anyway if you guys love BTC fine, keep all your money in BTC and all the best.
One day I hope someone explains why there is a little army of people trying to convince others to get into BTC, it's a Ponzi scheme where unless other people participate in the whole thing will come crashing down, as it has, sadly I know a few people that have lost a lot of money after they were talked into buying BTC and after listening to all the nonsense that has been said about it, the facts are undeniable, Bitcoin is not a good investment and wishful thinking is a terrible investment strategy.
As I always say, disappointment is an excellent teacher.
Best of luck
Click to expand...

Don't waste your time.. they're just like a cult..

Jorozey said:
If you think the main purpose of bitcoin is being a currency. You think the main purpose of a smartphone is making phone calls?


BTC has not failed at anything - it is a emergent/new form of hard, digital, self-custody money which moves at speed of light. The 4-year Sharpe Ratio (risk-adjusted return) of Bitcoin is higher than any other asset by far. Bitcoin is not just a store of value it's a value multiplier, If someone wants to buy and hold an asset for 4 years, there is none better performing than Bitcoin for its entire existence.

No asset class in the world with such a short history as Bitcoin has ever experienced such success, adaption, and value appreciation. With time and maturity, an asset class becomes everyone's go-to alternative for diversifying their portfolio. Bitcoin has never once been offline/down,hacked, duplicated or counterfeited in 14 years. Block after Block after Block. Try to say that about a bank, Country's currency or even a top secret network. Bitcoin is beyond amazing and really young. It's only the largest and most secure network ever created.

And the dollar doesn't even measure or capture value itself. It's a parasitic wealth-confiscation technology. Bitcoin is in it's infancy, trading like a risk asset like the rest of them because the centralized & slow money we use is corrupted.

The main purpose is give individuals control over their own wealth. Second, to secure your own wealth safely (from a bank or currency collapse) and a way for people to have unconfiscatable "gold". Freedom and ability to transact.

Yeah! What a failure!

*Ignore Bitcoin at your own risk. 🙂
Click to expand...

Wow 4 years! And astonishing time frame for statistical purposes

 

[void]

jjrapy said:
like a cult
Click to expand...

what word would you use to describe the relationship of the non"BTC cult followers" to fiat, state and central governance?
blindness, idiocy, suicide, fatal ignorance?

 

[jjrapy]

void said:
what word would you use to describe the relationship of the non"BTC cult followers" to fiat, state and central governance?
blindness, idiocy, suicide, fatal ignorance?
Click to expand...

Lmao call it like better suit to you..

Then enlighten us with your vision of the perfect state and governance.. so I can short my ears

 

[Jorozey]

jjrapy said:
Don't waste your time.. they're just like a cult..


Wow 4 years! And astonishing time frame for statistical purposes
Click to expand...

You can't beat that.

To make real progress you're going to need to swallow your ego.

 

[void]

jjrapy said:
Lmao call it like better suit to you..
Click to expand...

I'm fine with you using "cult" and my question was serious...

jjrapy said:
Then enlighten us with your vision of the perfect state and governance.. so I can short my ears
Click to expand...

My vision isn't important, I'm far from telling others what to do and what to think. Whatever would form without violence and coercion based on free will and resources of every single person is better that monstrosity we live in and we will die in unless we give people back their ability to preserve value they created. Without that nothing makes sense.

Last edited: Jan 6, 2023

 

[jjrapy]

void said:
I'm fine with you using "cult" and my question was serious...

My vision isn't important, I'm far from telling others what to do and what to think. Whatever would form without violence and coercion based on free will and resources of every single person is better that monstrosity we live in and we will die in unless we give people back their ability preserve value they created. Without that nothing makes sense.
Click to expand...

Don't get me wrong but let agree to disagree. Time will tell