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A comment on Coinbase suspending USDC:USD conversions over the weekend. Parent comment

Re:Coinbase suspending USDC:USD conversions over the weekend by PinguTS on Saturday March 11, 2023 @10:05AM (#35108792)
So, when will the USA military invade Norway?

I assume per your definition of "country" Norway should be a country as well.

Norway is a major party in selling oil and gas, but doing it so in NOK. Norway is not even part of NATO. At least until now.

So when do you expect an attack by the USA military?

[ Parent | on HN ]
Re:Coinbase suspending USDC:USD conversions over the weekend by slaw on Saturday March 11, 2023 @10:48AM (#35109253)
Norway uses US dollar for oil trade.

https://www.investopedia.com/terms/p/petrodollars.asp

[ Parent | on HN ]
Re:Coinbase suspending USDC:USD conversions over the weekend by PinguTS on Saturday March 11, 2023 @11:14AM (#35109588)
Petrodollar is just a term. It does not mean that the contracts are in US Dollar. The measurement is in NOK.

"In Consideration of the assignment described under Article 2.1 above, Buyer shall pay to Seller a post tax amount of NOK [zz] ([zz]), ref. Article 5."

https://offshorenorge.no/globalassets/dokumenter/naringspoli...

Also the measurement is NOK: https://www.norskpetroleum.no/en/production-and-exports/expo...

[ Parent | on HN ]
Re:Coinbase suspending USDC:USD conversions over the weekend by slaw on Saturday March 11, 2023 @11:38AM (#35109921)
> Norwegian Oil and Gas Recommended Model Agreement for sale and purchase ..

NOK is recommended. That document doesn't say what currency is used for actual transfers.

[ Parent | on HN ]
Re:Coinbase suspending USDC:USD conversions over the weekend by MandieD on Saturday March 11, 2023 @10:50AM (#35109288)
Slight correction: Norway has been part of NATO pretty much since its inception after WWII, but never joined the EU. Same for Iceland.

Its neighbors Sweden and Finland are EU members whose citizens have recently come to widespread agreement that NATO membership is desirable.

[ Parent | on HN ]
Re:Coinbase suspending USDC:USD conversions over the weekend by bombolo on Saturday March 11, 2023 @06:13PM (#35113780)
> Norway is not even part of NATO.

Odd… because the head of NATO is Norwegian.

Your entire comment is completely misinformed.

[ Parent | on HN ]