Bitcoin for Afghanistan and Taiwan - page 3.

leea-1334

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Quote from: NotATether on August 18, 2021, 07:30:53 PM

Quote from: cr1776 on August 18, 2021, 04:40:49 PM

Given the events in Afghanistan over the last week, it is a great example of where bitcoin could have been of great use to the people of the country. The currency, the Afghani, fell to record lows. Anyone who owned bitcoin was protected and could escape the country with their assets, not worrying about capital controls or confiscation at the border.

Not a good idea though. If people see the Taliban use it (and let's face it, that's inevitable if the common people start using it) it will give bitcoin a bad name that we can't really recover from as long as it's used there.

If I am not mistaken, al Qaeda, Taliban and Isis all already started using Bitcoin. They make international trade already and because US dollars and bank routes are difficult to make, crypto was the way for some of them.

So maybe you are right,,, using it might make US and others think YOU are part of the Taliban.

NeuroticFish

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Quote from: cr1776 on August 18, 2021, 04:40:49 PM

Anyone who owned bitcoin was protected and could escape the country with their assets, not worrying about capital controls or confiscation at the border.

Depends on how you store your Bitcoin. Hardware or mobile wallet could be risky if the inspector have knowledge about storing Bitcoin and decide to check your stuff / smartphone.

Whether one has hardware wallet or not, he has to keep the seed safe and the wallet protected.
Indeed, the mobile phone app and other means to easily access the coins should be removed from sight and the seed has to be also encrypted, but can easily be done.
And another HW can be bought when the owner of the coins reaches a more safe county.

I do hope for the best for the people that's now in Afghanistan, since probably the tough days are far from over for them Angry

avikz

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Quote from: cr1776 on August 18, 2021, 04:40:49 PM

Given the events in Afghanistan over the last week, it is a great example of where bitcoin could have been of great use to the people of the country. The currency, the Afghani, fell to record lows. Anyone who owned bitcoin was protected and could escape the country with their assets, not worrying about capital controls or confiscation at the border.

Given that China sees how weak the current US administration is, Taiwanese should beware and should have escape plans in place: assets offshore in the US, EU, Switzerland etc and some large percentage in bitcoin. The people of Hong Kong had an opportunity to do so, and probably still have a slight window, but right now Taiwan is in a place where the people should be concerned about the communists at their door.

These are the exact reasons why fascist and regressive countries have either banned bitcoin or in the process of doing it. Because governments do not like people to have control over their own assets, rather they want to control everything they can.

Bitcoin is indeed a great tool to avoid such intervention from the government dogs. We have seen that in the past when protest against China erupted in Hongkong. I am sure many people are using bitcoin solely for this purpose. But governments are furious. Recently Federal Reserve president said few lines on bitcoin.

Read here: https://www.marketwatch.com/story/crypto-is-95-fraud-hype-noise-and-confusion-says-feds-neel-kashkari-11629236416

yazher

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Most likely if their economy will fall, their currency will lose its value and the only thing you can rely on upon terms of currency is when you have to save bitcoins in your wallet to use for emergencies if something like this will happen. Because remember you can store it without using any smartphones or computers just the seed phrase will do and you can pretend like you don't own anything at all. I see where the OP is heading with giving this kind of idea to the current situation of Taiwan. They will have an option to do this kind of thing if something goes wrong with them in the future.

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Quote from: NotATether on August 18, 2021, 07:30:53 PM

If people see the Taliban use it (and let's face it, that's inevitable if the common people start using it) it will give bitcoin a bad name that we can't really recover from as long as it's used there.

Let's face the fact, what goes on in Afghanistan isn't a democracy. You only talk about the "Common People" and their feelings in perspective when it's a democracy as citizens get to air their divergent views, be heard and addressed. But in a dictatorship like we're going to experience soon in Afghanistan, the commoners don't have a say. Again, from the look of things, Bitcoin won't even be considered in the country since it's purely an Islamic state now. Muslims don't really welcome the Bitcoin idea as most of them think buying and owning Bitcoin/Cryptocurrencies is akin to gambling. Just the same way Muslims also frowns at interest based loans.

Kong Hey Pakboy

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If China pushes Taiwan to the point that they have to defend and go on a war against them, a lot of countries will back Taiwan and Taiwan will take the last resort of making the remaining pieces of cultural heritage of China destroyed forever so they really can't go doing that and I don't think that China wants a war too. Afghanistan is another story, bitcoin could've helped but the invasion of Taliban was so fast and it caught people off guard plus the Taliban wasn't a threat because Afghanistan's armed forces have the US arsenal left behind.

SquirrelJulietGarden

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Quote from: NotATether on August 18, 2021, 07:30:53 PM

Not a good idea though. If people see the Taliban use it (and let's face it, that's inevitable if the common people start using it) it will give bitcoin a bad name that we can't really recover from as long as it's used there.

We don't know Taliban used it or not. The seized money is from Afghanistan government.

Cryptocurrencies are known as tools for money laundering. Bitcoin is provided on many crypto tumblers. Nevertheless, it does not because Bitcoin was created by satoshi to be a tool of money laundering. Gun powders and gun were created not to be tools for terrorists, etc.

Quote from: Zedpastin on August 18, 2021, 07:57:03 PM

Bitcoin is a full payment system and operates like fiat

Bitcoin network does not operate like fiat through central banks. Your comparison is inaccurate.

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but with improvements the problem with Bitcoin now is the fees and the high volatility that has nothing to do with Bitcoin not being a full payment system but the nature of the people using Bitcoin.

You can choose fee to use if you know that you can customize fee for your Bitcoin transactions and if you store your bitcoin in non-custodial wallet from which you will broadcast your transaction.

dansus021

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maybe in afghanistan bitcoin payment already been there for **** funding it just my thought. but for country payment umm i dont know since there still problem on their government

Phanditha Echevarria

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Yes, holding Bitcoin is the best way to avoid the effects of war. The Afghan people are now suffering from the devaluation of their own currency. This is especially true for Taiwan. Taiwan is a pawn used by the United States to contain China. If it fails to achieve its effect, it will inevitably be abandoned by the United States. It is possible that the Taiwan dollar will disappear completely and be replaced by a digital renminbi.

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The Chinese foreign ministry spokesperson Hua Chunying said to the Taiwanese that they could be the next too. What happens to Afganistan could happen to the Taiwanese and the unification of Taiwan to China shouldn't be stopped. It's a strategic mind game for them.

Quote from: cr1776 on August 18, 2021, 04:40:49 PM

Given the events in Afghanistan over the last week, it is a great example of where bitcoin could have been of great use to the people of the country. The currency, the Afghani, fell to record lows. Anyone who owned bitcoin was protected and could escape the country with their assets, not worrying about capital controls or confiscation at the border.

Given that China sees how weak the current US administration is, Taiwanese should beware and should have escape plans in place: assets offshore in the US, EU, Switzerland etc and some large percentage in bitcoin. The people of Hong Kong had an opportunity to do so, and probably still have a slight window, but right now Taiwan is in a place where the people should be concerned about the communists at their door.

They should be a concern but what else could they do but fly away from there if they don't want to be caught in the middle. They should be buying Bitcoin right now or they end up like the Afgan president who loads a huge amount of cash in his car while fleeing.

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Quote from: NotATether on August 18, 2021, 07:30:53 PM

Not a good idea though. If people see the Taliban use it (and let's face it, that's inevitable if the common people start using it) it will give bitcoin a bad name that we can't really recover from as long as it's used there.

I think I remember reading a couple of years ago that terrorists were found to be using Bitcoin to buy weapons. I cannot remember if this was a legit claim but I have heard other people say that they think Bitcoin is used by criminals it does not matter if the claim was legit people will believe it without researching it.

Quote from: Sweetbtc on August 18, 2021, 07:40:12 PM

Bitcoin is not yet fully payment system like fiat. Bitcoin is high volatile and common people of Afghanistan would not like it. Well devolped countries should choose bitcoin for payments purpose than off course some small countries will also adopt it.

Bitcoin is a full payment system and operates like fiat but with improvements the problem with Bitcoin now is the fees and the high volatility that has nothing to do with Bitcoin not being a full payment system but the nature of the people using Bitcoin. Afghanistan is not a small country and is one of the richest if you count the amount of oil they have. Do not confuse developed countries for being the richest countries this is no always true because some countries that are rich have been in a state of war for decades like Afghanistan.

Sweetbtc

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Bitcoin is not yet fully payment system like fiat. Bitcoin is high volatile and common people of Afghanistan would not like it. Well devolped countries should choose bitcoin for payments purpose than off course some small countries will also adopt it.

NotATether

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Quote from: cr1776 on August 18, 2021, 04:40:49 PM

Given the events in Afghanistan over the last week, it is a great example of where bitcoin could have been of great use to the people of the country. The currency, the Afghani, fell to record lows. Anyone who owned bitcoin was protected and could escape the country with their assets, not worrying about capital controls or confiscation at the border.

Not a good idea though. If people see the Taliban use it (and let's face it, that's inevitable if the common people start using it) it will give bitcoin a bad name that we can't really recover from as long as it's used there.

yenhuang

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Quote from: cr1776 on August 18, 2021, 04:40:49 PM

Given the events in Afghanistan over the last week, it is a great example of where bitcoin could have been of great use to the people of the country. The currency, the Afghani, fell to record lows. Anyone who owned bitcoin was protected and could escape the country with their assets, not worrying about capital controls or confiscation at the border.

Given that China sees how weak the current US administration is, Taiwanese should beware and should have escape plans in place: assets offshore in the US, EU, Switzerland etc and some large percentage in bitcoin. The people of Hong Kong had an opportunity to do so, and probably still have a slight window, but right now Taiwan is in a place where the people should be concerned about the communists at their door.

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Wasn't Taiwan Island abandoned by the United States in 1979? According to the Global Journal, experts warned that “the failure of the United States in Afghanistan should serve as a warning to the separatists on the island. They must understand that they cannot count on Washington, because Afghanistan is not the first place where the United States abandons its allies, nor It will be the last one. "

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FX168 Financial News (Hong Kong) News On Wednesday (August 18) after the Taliban took over the Afghan capital of Kabul, the Afghans panicked and ran to the bank to grab cash, only to find that their money was locked. Bitcoin extremists have also taken note of this news. They believe that cryptocurrency can solve the problems in Afghanistan or prevent the outbreak of war from the beginning.

I think it can explain several problems.
1. The leaders of Taiwan Island are too spineless, and they are often like pets. I also do not think that China will use force to reunify Taiwan Island (although it will not give up the use of force). When the balance of American interests is out of balance, he will choose to abandon Taiwan.

2. All wars and all overseas military operations of the United States have only one purpose: to consolidate the US dollar's status as the world currency hegemon. This is very obvious. There are no assumptions in life. All kinds of speculations will appear only when difficulties arise. The war in Afghanistan and the freezing of bank funds indicate that in the centralized currency system, you have no choice. Bitcoin will be pushed onto the stage by history.

cr1776

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Given the events in Afghanistan over the last week, it is a great example of where bitcoin could have been of great use to the people of the country. The currency, the Afghani, fell to record lows. Anyone who owned bitcoin was protected and could escape the country with their assets, not worrying about capital controls or confiscation at the border.

Given that China sees how weak the current US administration is, Taiwanese should beware and should have escape plans in place: assets offshore in the US, EU, Switzerland etc and some large percentage in bitcoin. The people of Hong Kong had an opportunity to do so, and probably still have a slight window, but right now Taiwan is in a place where the people should be concerned about the communists at their door.

Topic: Bitcoin for Afghanistan and Taiwan - page 3. (Read 535 times)