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Bitcoin Cold War? (Patreon)

Published:
2024-12-25 23:01:18
Imported:
2026-06
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Content

BTC is all about Game Theory - but there are other angles when nation states get involved.

Putin has been goading Trump into buying into Bitcoin Treasuries. This makes me suspicious as why would Putin help Trump?

My Dilemma

  • If Real: Russia's interest in cryptocurrency as a response to sanctions could be grounded in real geopolitical strategy. Countries under sanctions might explore digital currencies to bypass traditional financial systems.

  • If Fake: The story could be crafted to stir interest in Bitcoin, perhaps for speculative investment or to create a narrative that fits into broader geopolitical tensions, without factual backing. ie Sucker USA in??

h/t Sanjay for the image and happy holidays once again

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Comments

J

Putin is Satoshi Nakamoto.

Greg Ward

With an economy roughly the size of the economy of Texas, GDP of about 2.4 trillion, i don't think they represent a threat economically.

Putler

While in the EU, with the MiCa law now active within the Union, one country stands out. From central bank of Italy a report has seen the light. My money is on Saylor and Elon. “Bank of Italy Calls Bitcoin P2P “Crime-as-a-Service” in Latest Report Sam Wisdom RaphaelDecember 24, 2024 A recent Bank of Italy (Banca d’Italia) publication classifies Bitcoin P2P as “Crime-as-a-Service,” criticizing its anonymous feature. In its latest Economic and Financial Research report, the Bank of Italy has raised concerns about Bitcoin’s peer-to-peer (P2P) systems, labeling them as potential “crime-as-a-service” platforms. The central bank’s report highlighted the pseudonymous nature of Bitcoin transactions, which they noted could help facilitate illicit activities like money laundering. However, according to the report, Bitcoin’s P2P services are not inherently criminal. Nonetheless, the authors believe its privacy features present an opportunity for individuals seeking to obscure illegal financial activities to exploit it. The Bank of Italy pointed out that in regions with weak anti-money laundering (AML) regulations, such as certain countries identified by the Financial Action Task Force (FATF) as high-risk, these platforms are particularly susceptible to misuse. The report also noted that the decentralized finance (DeFi) sector poses additional challenges for regulatory oversight. Without intermediaries to enforce AML compliance, DeFi platforms can potentially be exploited for illicit purposes. According to the report, the absence of centralized control in DeFi makes it difficult to implement traditional regulatory measures, necessitating new approaches to ensure compliance and prevent misuse. Broader Concerns around Bitcoin’s Anonymity The central bank’s perspective aligns with previous criticisms from various global authorities. For instance, the Financial Action Task Force expressed concerns about the anonymity provided by cryptocurrencies, suggesting they could be used to facilitate money laundering and terrorist financing. Similarly, in 2022, the European Central Bank warned about the potential for cryptocurrencies to be used in illegal activities due to their pseudonymous nature. In addition, JP Morgan CEO Jamie Dimon has maintained that Bitcoin serves no real purpose except its use for criminal activities. Is Bitcoin the Primary Choice for Criminals? However, proponents of Bitcoin argue that the technology itself is neutral and that its benefits extend beyond the potential for misuse. Further, data confirms that cash remains the primary medium for financial criminal activities like money laundering. Notably, the 2024 Crypto Crime Report from Chainalysis confirmed that illicit addresses received $24.2 billion in crypto transactions in 2023. This figure represented only 0.34% of the entire on-chain transaction volume in 2023. Meanwhile, a report from the OCCRP revealed that criminal transaction volume amounted to $3 trillion last year, with most of these in cash. Also, estimates suggest criminals launder about $800 billion to $2 trillion every year, and cash accounts for most of this. Bitcoin bull and MicroStrategy Chairman Michael Saylor stressed in May 2021 that besides blockchain, criminals also leverage other mediums to perpetrate crimes, including cash, cars, computers and guns. He questioned if this reality would warrant a ban on these items. Moreover, advancements in blockchain analytics have made it increasingly possible to trace Bitcoin transactions, thereby mitigating concerns about its use in illicit activities.” “More money has been stolen by the point of a pen than at the point of a gun” Warren Buffet Thus should we ban pens?

DungBeatle

I had expected Russia to go all into Crypto BTC when the war started and sanctions were imposed. It never happened and some serious manipulation took place keeping the value down. Maybe the scarcity will make it different now ?

Andy

I had the same thoughts too

Bayra

Russia needs money for war. Russia may have some btc mined, when trump start buying btc price will go up so Putin can sell Russian btc higher price so he can support his war that needs desperately needs money

lightthefuse

I think Putin wants the U.S. to go in frankly to pump BTC price. I’m not sure where the comments are coming from about Russia not using BTC to bypass sanctions all the way back to 2022??. I read pieces where they were churning crypto like crazy to help bypass sanctions with increasing commerce with China.

Robin Bucciarelli

Money and state should be separate. It's as simple as that. Weaponizing money has adverse effects on all parties involved.

Maine McEachern

Trump's likely been a KGB/Kremlin asset for decades (which explains his endless kowtowing to Putin). Putin does not want the USD to be the international reserve currency and he wants freedom from SWIFT regulations. It makes sense he'd try to convince Trump to begin the process of "divorcing" the USD/SWIFT. Crypto remains the best option if you want to transfer value illicitly/anonymously, e.g. for criminal enterprise or political corruption.