evade capital controls when every legitimate exchange have AML/KYC? So Amazon stock is useless unless converted to fiat? How about Gold bars? How about the SPY ETF's in the account?
If Amazon stock stops trading, I still have a legal claim on the assets of the company. If Bitcoin stops trading... I have... a number.
Ahhhhhhhhhhhhh Wait, let me check my notes So the people of Russia who invested in their stock market have no problems right now? Or the people of Venezuela? or the people trading in the LME and got their trades cancelled? Bitcoin is a bearer asset you can trade anywhere in the world unlike your Amazon stocks You are wishing for a hypothetical that is very, very very very unlikely to happen But you want it so badly you think it's going to happen soon™️
I do agree in the case of societal breakdown that does not take down the Internet, Bitcoin is superior for retaining _some_ wealth.
I would say that EU is also shaking the market, and it is not only about the bitcoin. We will see how everything will be in the future, but I hope that nothing problematic will happen...
many rails for otc trades This post is silly and demonstrates a fundamental lack of understanding of the btc network. Anyone whom has accumulated that much btc most likely holds it as non-custodial. There would be no requirement to liquidate something that someone has the private keys for. They could travel to anywhere in the world and still access their btc.
Meanwhile the Biden administration is trying to regulate the crypto market. We'll see how that will go, I guess.
Sure, why not. We saw how his 'regulation' of Keystone, etc. all worked out so well. Might as well botch up the next commodity in line.
No wonder Dubai recently created a crypto regulator. Formed under the Dubai Virtual Asset Regulation Law, the new regulator dubbed Dubai Virtual Assets Regulatory Authority will be in charge of the oversight of all crypto assets as well as NFTs in the emirate. I can't imagine the chaos before that.
I think cryptocurrency has shown less fluctuations during this whole Russia-Ukraine situation compared to how it behaves usually to any big event. The notion that cryptocurrencies are safe haven has stood true during these unpredicatable times. Even the naysayers who were also suspicious about the bitcoin potential have realised the importance of it.