Russian Ruble just lost ~30% of its value

Re:Russian Ruble just lost ~30% of its value by arcticbull on Sunday February 27, 2022 @10:10PM (#30495919)

I'm not sure why it wouldn't. You can easily launder crypto, disguise its origin and have a designated third party close the positions out at a banked exchange.

That's literally the value proposition of crypto. That you can conduct international transactions without permission.

So either...

(1) The raison d'etre hasn't been met, and therefore, it's not really providing any value over a permissioned system. Or...

(2) It works exactly as designed, allowing permissionless payments across borders and so oligarchs and demagogues can transact internationally in violation of international sanctions.

I don't see a good outcome. Am I missing something?

[ Parent | on HN ]

Re:Russian Ruble just lost ~30% of its value by geoffmunn on Sunday February 27, 2022 @10:15PM (#30495953)

If a crypto coin transaction has passed through a wallet which is known to be held by a scammer (or Russian govt), you can blacklist that coin. Tumblers help, but takes away credibility.

[ Parent | on HN ]

Re:Russian Ruble just lost ~30% of its value by arcticbull on Sunday February 27, 2022 @10:16PM (#30495960)

So run it through a DEX or take a haircut. This is the Russian government or oligarchs we're talking about not Razzlekhan.

[ Parent | on HN ]