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Comment by smartties | Hacker News Reader

As much as I dislike the whole crypto space, I can see how crypto stable coins (which comes with it's own risk...) could help Russian people secure their savings against government seizing and also fight against the devaluation of their currency.

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I think it's naive to think that the Russian government can't interfere with funds held in crypto by Russian people. In the least, they can prevent them converting it to fiat currency.

For now. In 5 years who knows.

Russia is likely to outlaw cryptocurrencies for that reason (of course the rich will be able to do it with no punishment). But the small citizen will just get visited by putin's police and beaten within an inch of dying, before being told to never touch crypto again, on the mere suspicion they are using cryptocurrencies.

Welcome to the other side ;).

In this particular case it is more likely that the other side has a high percentage of oligarchs who have had plenty of time and ability to divest to crypto and other assets outside of government control. Most of the people on the street wouldn't even know where to start. So welcome to the other side, same as this side, same as it ever was.

You are misreading my response. It was because HN is known to be anti-crypto. So I meant 'welcome to the pro crypto side'.

And to your response, maybe instead disallowing all people crypto, let's make it easier for everyone. Times like this make it more clear than ever that crypto is not just a "solution looking for a problem".

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