According to the IMF, residents of countries with restrictive financial regulations are turning to Bitcoin to move capital across borders more freely.
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According to the IMF, residents of countries with restrictive financial regulations are turning to Bitcoin to move capital across borders more freely.
First time I've heard positive new related to the IMF and Bitcoin.
And I really hope it won't the last š
I couldn't care less what their opinions about bitcoin are. I realized they were irrelevant when El Salvador moved forward even after being warned. Also people using bitcoin during Ukraine invasion.
me too!
I don't think the IMF is happy about it, they are just explaining what people are doing.
They will probably use it for restrictions. IMF + BIS has a load of projects oriented for gov coins interoperability.
Oh man. I hope this is a late April Fool's joke. The one thing I don't want is for the IMF to support bitcoin.
Itās inevitable. At some point they will realize that canāt fight bitcoin anymore. They will turn the gears, and start āsupportingā it, regulating itā¦ and I am pretty sure the bankers and those guys are owning it, buying it. They just canāt say it out loud.
Well, if there is one thing I trust about the IMF is that they say things they don't believe. They are full of it so these words aren't worth 1 sat.
Me neither but I think this kind of message from exactly the IMF will teach all of us the lesson how powerful Bitcoin is.
This is a little more than two years ago:
https://www.bbc.com/news/world-latin-america-60135552
What changed? BlackRock? I don't like this at all.
Bitcoiners need to learn the difference between an organisation taking a new policy position and an organisation publishing research briefs.
This is a research brief.
Anyone who has worked in a large global corp or NGO understands that the rank and file of the org are regularly debating and exploring ideas, some of which go on to inform policy. But very often the wider political context of the org means research briefs and projects do not change policy.
Think of all the telecom companies who saw the internet coming but did nothing, the auto companies who had teams exploring EVs back in the 90s and went nowhere, how Kodak and Polaroid predicted digital photography but failed to shape their companies around it in time.
It's an interesting paper, but it's no indicator that the entire IMF is about to go Bitcoin maxi.
"The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management."
Thank you for giving this important context
I would also add that this is still "net bullish", as it demonstrates Bitcoin has far passed the point of being ignored. The race is on for political & corporate groups to try to understand it. What they do with what they learn remains to be seen...
Exactly šÆ
Political and corporate groups don't care about understanding monetary theory of the current fiat world (even though its an essential requirement for their job) so why on Earth would they need to understand a technology 1000x more complex like Bitcoin.
All they are interested in is to have tools which makes them supreme in some primitive aspects than others - that's it!
Next will be world bank, then Brics, then EU, then everyone else. We just need to do what we are doing and that is 'Keep the Bitcoin Standard intact'.
šŖ
What was Darth warning just yesterday?
#512256
Those bastards š¤Æ
Some things still need to be regulated.
Its nice that people can move money easier, but do you want drug money to be laundered through btc?
Or chinas filthy money to come to the usa like fentynal?
The morality of selling drugs has nothing to do with what is done with the money afterwards. Governments fear-mongering about money laundering is a ruse to gain support for invasive policies in order to collect taxes more easily.
Drug money is no less legitimate than any other industry with demand. It only has to be laundered to get around government restrictions, but as far as the market is concerned there is no difference between drug money and other money. Likewise money from China is just as good as from anywhere else, and if Bitcoin lowers international trade barriers then everyone benefits.
We need more drug dealers
Serious not sarcastic
I like to party
https://m.stacker.news/27536
I'm 100% against human interference in what's so called regulation because people had proven that they are unable to regulate themselves for good not to talk about other things which they don't understand.
Bitcoin is currently regulated perfectly by its own rules enforced by the PoW and it's currently proving this is the best monetary regulation we've ever had!
I had to double check the url wasn't the bitcoinbugle š¤£
Mute bitcoin bugle
He isnāt funny or clever
Boring predictable content
Who the f**k is Bitcoin bugle?
Exactly
inb4 the IMF replaces XDR's with BTC
Highly doubt it
Well duh
maybe they're lying. It wouldn't be the first time.
šÆ
What a turnaround from IMF!