Yeah, especially in Gaza, the paper currency began physically disintegrating during the genocide, so people started using Bank of Palestine, Paypal or Cryptocurrency (mostly USDT) to send funds electronically. Big issue is they tend to use Binance or other centralized exchanges, which then block and seize the funds or demand identification, which may be difficult if you’re displaced. Just had this happen to me when I sent a transfer to a family in Gaza.
I think a lot of westerners underestimate how useful crypto has been for countries like Palestine, Venezuela, or in Western Africa, where the local currency is export controlled or is tied to an oppressive surveillance/neo-colonial state. Its actually in widespread use, but the crypto community and devs seriously need to go back to being cypherpunks and emphasize privacy and autonomous decentralized finance, instead of just glazing the NASDAQ and SEC to pump their shitcoin.
Occupy and Wikileaks had a role in diverting US activists towards ineffective means of struggle, & were spun off into movements that were used to + directly contributed to threaten states the US considers enemies. I think the Iranian govt is foolish if they really intend to treat bitcoin is money, but it looks like it will just be a payment method negotiated at gunpoint, so there is no chance of the money being clawed back by the US fgovt + prvt banks. China is setting up a cryptographic ledger thingy (I’m not a crypto guy I watch #thebarrels) for states to securely organize bilateral currency agreements, but I’m guessing that wouldn’t be an option for this kind of thing? At least not at this stage?
Permisonless means that I can send money to you, and no third party can stop that transaction.
I switched to buying things online to exclusively in crypto after fighting too many times with banks blocking my purchases. That literally cannot happen with crypto. If I send money to someone, they get it 100% of the time. That’s by-design. It’s permissionless. And transactions cannot be reversed.
I mean, it defeats the point of crypto for you, which is a replacement for the US dollar in speculation. It has enormous utility to these states, which are using it to negotiate currency transfers without the US Swift system. It’s literally just for use by governments, and reversing the transactions would be a diplomatic incident. Maybe you’re on to something about why hostile parties could not use it, though. I don’t know much about crypto technically like I said before.
I don’t know if the State Dept being able to claw back coins counts as “reversible” to you but it effectively allowed them to steal much of the proceeds from the drug selling.
There are already private blockchains used between banks and states. XRP is basically an entire cryptocurrency made for that purpose. Pretty sure BRICS has already floated the idea about making their own currency for this purpose, and potentially on a blockchain, but I think they’re not ready to pull the trigger on ending the petrodollar for whatever reason.
This is one reason we have cryptocurrency.
When PayPal blocked donations to Occupy and WikiLeaks, they got bitcoin donations
Is there anywhere that actually accepts crypto as payment for goods or services? Especially in Palestine?
Just made an account to reply to your comment.
Yeah, especially in Gaza, the paper currency began physically disintegrating during the genocide, so people started using Bank of Palestine, Paypal or Cryptocurrency (mostly USDT) to send funds electronically. Big issue is they tend to use Binance or other centralized exchanges, which then block and seize the funds or demand identification, which may be difficult if you’re displaced. Just had this happen to me when I sent a transfer to a family in Gaza.
Here are a couple of articles:
I think a lot of westerners underestimate how useful crypto has been for countries like Palestine, Venezuela, or in Western Africa, where the local currency is export controlled or is tied to an oppressive surveillance/neo-colonial state. Its actually in widespread use, but the crypto community and devs seriously need to go back to being cypherpunks and emphasize privacy and autonomous decentralized finance, instead of just glazing the NASDAQ and SEC to pump their shitcoin.
What? A whole country has declared it legal tender, so literally millions accept it worldwide.
As for Palestine, idk. They have to dig tunnels to smuggle-in medicine under blockade. So, yeah, probably.
Crypto can be converted to local currency and transfer to debit cards or bank accounts and use as payment for goods and services.
Occupy and Wikileaks had a role in diverting US activists towards ineffective means of struggle, & were spun off into movements that were used to + directly contributed to threaten states the US considers enemies. I think the Iranian govt is foolish if they really intend to treat bitcoin is money, but it looks like it will just be a payment method negotiated at gunpoint, so there is no chance of the money being clawed back by the US fgovt + prvt banks. China is setting up a cryptographic ledger thingy (I’m not a crypto guy I watch #thebarrels) for states to securely organize bilateral currency agreements, but I’m guessing that wouldn’t be an option for this kind of thing? At least not at this stage?
A ledger run by a state isn’t going to be permissionless. That defeats the point.
Remind me what permissionless means in the context of crypto? Is that related to using BTC for tolls?
My point is The Silk Road proves holding BTC isn’t appropriate for evading US authorities
Permisonless means that I can send money to you, and no third party can stop that transaction.
I switched to buying things online to exclusively in crypto after fighting too many times with banks blocking my purchases. That literally cannot happen with crypto. If I send money to someone, they get it 100% of the time. That’s by-design. It’s permissionless. And transactions cannot be reversed.
I mean, it defeats the point of crypto for you, which is a replacement for the US dollar in speculation. It has enormous utility to these states, which are using it to negotiate currency transfers without the US Swift system. It’s literally just for use by governments, and reversing the transactions would be a diplomatic incident. Maybe you’re on to something about why hostile parties could not use it, though. I don’t know much about crypto technically like I said before.
I don’t know if the State Dept being able to claw back coins counts as “reversible” to you but it effectively allowed them to steal much of the proceeds from the drug selling.
There are already private blockchains used between banks and states. XRP is basically an entire cryptocurrency made for that purpose. Pretty sure BRICS has already floated the idea about making their own currency for this purpose, and potentially on a blockchain, but I think they’re not ready to pull the trigger on ending the petrodollar for whatever reason.