Russian central bank confirms block on foreign bids to sell Russian securities

Re:Russian central bank confirms block on foreign bids to se... by rmbyrro on Monday February 28, 2022 @08:32AM (#30499598)

We also have to consider they don't need to keep everything in crypto. Just use it to get out of the Ruble and later figure out what to do.

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Re:Russian central bank confirms block on foreign bids to se... by tomc1985 on Monday February 28, 2022 @09:04AM (#30499884)

Whilst hoping that their savings don't get further devalued by extreme price volatility.

In the last month I have watched my crypto holdings fluctuate by something like 50%. There is no way in hell I would use crypto as a store of value for anything I cared about under those conditions.

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Re:Russian central bank confirms block on foreign bids to se... by rmbyrro on Monday February 28, 2022 @05:20PM (#30505962)

If you want to peg your wealth to the USD, use a stable coin pegged to it. That's what Russians seem to be doing right now.

What you are saying would be similar to: there's no way I would use the financial system, look how the futures exchange is volatile!

Just keep it in cash, then, but you don't have to ditch the entire system because parts of it are volatile.

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Re:Russian central bank confirms block on foreign bids to se... by tomc1985 on Wednesday March 02, 2022 @01:23AM (#30524379)

Does the futures market swing 50%?

Sure the smart ones use a stablecoin. But what about everyone else?

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