Topic: Can we think that Bitcoin can help governments that are in a boycott? (Read 174 times)

It depends if they'll have a way of using it. I remember South Korea blaming the North for an exchange hack last year or so. If they are really the one who stole that money, they'll have to improvise various shennanigans to be able to buy anything using those.

According to my sources, international monitors gave the elections very high marks.  In other words, you're spouting bullshit propaganda.  I would expect Maduro to do well if he is not a fraud because the peeps are quite aware of what the Western-backed minions have planned for them.  They've seen it before.  Duterte has few friends among the One-Worlder globalist crowd who want a free hand to milk the resources of the Philippines.  He gets bad press all over the world but the peeps love him.

https://www.globalresearch.ca/venezuela-election-observer-the-majority-have-chosen-the-path-they-want-for-venezuela/5642050


The government seized assets accumulated unethically under previous administrations prior to Chavez's regime.  Just like he said he would.  It's called nationalization and that's what the peeps voted for.

Sanctions-busting to keep the current regime in power is a different thing since it's the same regime which (or which does not) honor it's commitments.

This thread is more general than Venezuela so the discussion is drifting off-topic here.  It's just hard to let the propaganda and bullshit skate by.


Um, no shit.

It's the same as money laundering insofar as you do it as effectively as possible which means that you don't go around declaring to your enemy what you are doing.  Every step is designed to be difficult to track for a reason.  One can avoid going into USD-land completely if the supplier will accept something other than USD for their wares (guns, food, medicine.)  Bitcoin, gold, or anything else would be fine as long as the supplier has a demand for it.

Money laundering is defined as hiding gains from illegal activity.  It is highly debatable whether freely transacting with Venezuela is 'illegal'.  The operators of the currently dominant monetary system say it is, but of course they would.  I personally don't consider something 'illegal' just because they say so.

The government of Venezuela was not actually elected -- their "elections" were a sham. Also, the government has actually blockaded highways and bridges into the country to stop humanitarian aid from entering into the country -- likely to strengthen the hold on its citizens.


People who were to buy this coin would need to trust the government to honor these claims. The government has its military that can (and has) seize these assets from private citizens who own property within the country.


Your "sanctions-buster" would likely have sanctions imposed onto themselves for helping the government of Venezuela evade sanctions. They may even be prosecuted (see the CFO of Huawei)
Those who buy from the "sanctions-buster" may also have sanctions imposed onto themselves.


What you are describing is little different than money laundering with the additional risk of a sanctions imposed government not honoring their obligations.[/list]

From a similar recent thread:

https://bitcointalksearch.org/topic/m.49648128

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Let's design an ideal 'crypto-currency' for a nation under sanction from the existing monetary titans/private owners (currently the so-called 'petro-dollar' world reserve currency.)

Let's use Venezuala as an example, but there are others past, present, and future.

The elected government of Venezuela has certain needs for the people of the country.  Weapons to fight invaders, food and medicine for her citizens, etc, etc.  In natural resources, Venezuela is quite wealthy in oil and gold.  The sanctions are designed to make it difficult for the current government, and future 'objectionable' governments, to capitalize on the nation's wealth.

Venezuela can use her resources as a 'reserve currency' but still needs an 'exchange currency' to get the things she needs to survive.  Note that the 'exchange', meaning the 'circulation', is what the sanctions attack.  The end-goal of the current operations against Venezuela is, of course, to capture Venezuela's 'reserve currency' in the form of resources and hand control back to multi-national corporations, and again, depriving Venezuela of an exchange currency via sanctions for long enough is hoped to achieve this effect.

I suggest the following design:

• Complete and guaranteed transparency to that 'investors' can be confident that they won't get cheated.  FULL 'open-source'.
  
  (The 'modern' banking system relies on secrecy and opacity to serve the purposes of it's owners.  The opposite is the goal here.  Everyone should be able to assess certain parameters of every unit of value.)
  
  
• Accrual of claims on reserve assets (oil, gold) based on the number of 'circulations' of a particular coin.  That is the metric which defines the value to the people of Venezuela.  The 'sanctions-busting' numeric.
  
  (This exchange currency is not 'fungible' and not meant to be.  The trusted authority will devalue, deprecate, and remove from circulation coins which don't move.  Conversely they can enhance the value of coins which circulate a lot.  This thwarts a common form of attack involving simply buying up a currency (by a well funded and dedicated attacker) and burying it in the back-yard leading to death by inflation.)
  
  
• The currency would be fully 'pre-mined' by the issuer and proof-of-stake giving the trusted entity (whether the current elected government or some other entity) full control and immunity from superior resource attacks (e.g., 51%.)  I would suggest that the design calls for migration to a proof-of-work scheme over time, though with a 'shuffle' of algorithms to avoid ASIC development.  Alternatively, the currency could EOL when the threat of loss of 'reserve' is gone and the reserve tokens are paid off (via drilling, gold mining, etc.)

The flow would be something like this:

• sanctions-buster gets guns, intelligence, food, penicillin, whatever into the country.  Get's paid in Boliv-coin issued by the trusted authority.
• sanctions-buster exchanges Boliv-coin on the open market for other crypto or whatever.
• Boliv-coin speculator buys from sanction-buster (or his broker) and redeems Boliv-coin as a claim on future reserve assets.
• Boliv-coin is re-circulated by trusted authority at an increased value based on the number of circulation cycles.

It can be anticipated that the 'Boliv-coin speculators' will often be insiders from the current banking system operating on their own (just like what happened with Bitcoin in the early days) and scum-bags like Soros.  That's fine because

• it will only help the true goal which is circulation, and
• these scumbags may be less inclined to help the existing power structures win if they will do better by capitalizing on their own speculation in the success of their personal asset claims.

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The down-side for the current elected government is that 'anyone can do it'.  The side which seems most likely to both

•   A) prevail in obtaining or retaining control of the reserve assets
•   B) actually make good on paying off the speculators

will have the most well performing 'exchange currency'.  That is, as long as the 'speculators' are driven entirely by greed, but this is not necessarily a rock solid assumption.

I think it will help people living in a repressive government. I don't see how BTC can help a government do much of anything except, perhaps surreptitiously fund some projects or transfer funds to foreign agents.

bitcoin is just a token from a internetcult who stands for it except this forum community.

the biggest issue is that no one has a sustainable interest to reinforce bitcoins money and value

Bitcoin can help the population more than the Government. Using Renminbi, Rubles or gold are the methods governments use to avoid US sanctions. It is untrue that sanctions are imposed because of actions by a government, they are usually imposed to force a regime change so that the US can divert the assets to the City of London ruling elite.

everything of value can help a government in or not in boycot (ressources,
also other cryptocurrencies, labour, services, even just talking good about them), bitcoin helping everyone basically is most responsible for its value loss. the tech freaks that sold their lifesavings for "bitcoin" made that help possible.


then basically saw bitcoin collapse as soon as someone who earned them, sold them for consumable goods.

you should lock one thread between threads on Politics & Society and on the thread Economics because by creating your thread, you have violated the rules in the forum.
this is only a suggestion, so you can be more orderly in making the right posts.

If there are sanctions (boycotts) against a government, it is usually because they are doing really bad things.

Sounds like a good way to get Bitcoin regulated quickly.

Can we think that Bitcoin can help governments that are in a boycott?
My point is negative, since Bitcoin is severely compromised by the other side to deal with these governments.
The main problem for these governments is finding traders, not a way to pay.
What do you think of this?