How does the US manage to block direct trade between China and Russia? Anyway, why they aren’t using Bitcoin for this yet is beyond me as well. https://www.businessinsider.com/russia-economy-china-yuan-payments-delay-months-bounce-back-sanctions-2024-7

Reply to this note

Please Login to reply.

Discussion

I guess two tyrannies trying to trade with each other won’t risk their citizens more widely using freedom tech.

OK, apparently they do see the writing on the wall. The Foudry U.S.A. mining pool (with 32% hash rate) will receive a ton of pressure to censor transactions once Bitcoin is used for Russia-China trade at significant scale.

https://www.cnbc.com/2024/07/30/russia-considers-legalizing-crypto-as-a-form-of-payment-amid-sanctions.html

Guess they better spin up their own pool. Nation state game theory, etc., etc.

I also suppose it’s fortunate for them that Bitmain is a Chinese company.

Indeed!

Interesting times for Bitcoin are ahead.