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Bitcoin for Global Trade Settlement? How Outrageous
195 sats \ 3 comments \ @spiderman 31 Aug bitcoin
So, now that the US is threatening South Africa with a SWIFT cut off, it seems the south African leaders are still scrambling for dollar alternatives while they (conveniently and stupidly) continue to overlook Bitcoin. Likely, they will go sucking at the Chinese doorstep, hoping that the new master will be nicer, with their digital Yuan.
As an exporter of key minerals like Platinum, Gold, Manganese imagine the benefits they could reap by adopting Bitcoin for trade settlement (without being shoved around by other powers) and running a single node to protect their assets with absolute finality. But no, they are too dense, obviously.
They will depend on dollar, they will depend on Swift, and they will complain when things fail to pan out as they hope. These episodes just reinforce my notion that some nations and people just deserve to remain poor. Any south African reading this...hope you learn and avoid the mistakes in your personal finances that your country is making.
#BitcoinFixesThis
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50 sats \ 1 reply \ @nkmg1c_ventures 31 Aug
Yeah but any nation that really tries to gain independence from the US system ends up like Gaddafi
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30 sats \ 0 replies \ @spiderman OP 31 Aug
Emarat, the largest retail gas station operator in the UAE, is selling oil for Sats. Has there ever been a stronger contender to the petrodollar status quo?
Emirates, the globe spanning airline from the same country, will also soon fly you around the world, for your Sats.
Does not seem like the US is that eager to send the seventh fleet to the coast of UAE or cut them off from SWIFT though. Bitcoin is the form of silent protest with sound money (the irony is hilarious as I write it) that nobody can take away from you. It is for anyone, but not everyone.
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0 sats \ 0 replies \ @bitcoingecko 31 Aug
bitcoin is the obvious answer that few are willing to really consider still
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