Oof, how will Russia cope now? Little access to international finance, no visa or Mastercard or the Chinese alternatives. And now Putin banned crypto payments. Russia left with cash and shitty domestic alternatives. How will cryptobros and russia cope?
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At this rate I think there is a new iron curtain. The advantage of this is that talent will no longer be able to bleed out of Russia for the next decade or two. Which might looking at the long view actually end up with Russia being one of the last remaining nations as it managed to brute force it's intelligentsia into staying.
On the other hand it's more likely to be a repeat of the USSR, everyone distrustful of each other thinking the other is a traitor meanwhile half are trying to get as far away from Russia as possible first chance they get.
The problem with East Asian states is that they really do not see themselves as an extension of a greater whole but rather as individual nations that can afford to opt out of the global system at any point in time when necessary. It's hard to get across to them the fact that most specialized equipment is being made across a dozen different nations and it just isn't possible to focus all of those industries into just one country and get the same quality.
It's like this:
You want the best car. You have the best engine makers in Germany. The best car body makers in Italy. The best tire manufacturer in Switzerland. The best IT support in India. The best advertisers in the US, the best shipping company in Singapore to make your product reach on time all over the world.
Now when Russia or China isolate themselves they have to be the best version of every single one of these things on their own which is near impossible. Even the most advanced societies end up focusing on some things over others.
Russia crypto is not a big deal. China pulled out as well which would have far bigger ramifications. Already graphics cards prices have been going down on the market for a few months now. On the other hand by the end of the day the invisible hand of the market will stabilize things.
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You had a chance to not be completely worthless, but it looks like you threw it away. At least you're consistent.
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I think russia is taking crypto out of the picture because they see it as a threat to the ruble.
It is a little bit different to china because I think russian cybercrime represents a net inflow of money for the country, and cryptocurrency facilitates that. But as usual, they will be able to dole out justice selectively as it benefits the kleptocracy.
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Somehow this caused crypto to pump
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What the frick did you just fricking say about me, you little b-word? I'll have you know that I graduated in the top half of my class in highschool and I've watched over 300 episodes of judge judy. I am trained in wikipedia search tactics and I am the top lawyer in the entire US Pol armchair forces. You are nothing to me, but just another mistrial.
Snapshots:
archive.org
archive.ph (click to archive)
ghostarchive.org (click to archive)
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