BitopiaLand on Nostr: Bitcoin: the answer to Russia’s payment and China’s sanctions problem Russian ...

Bitcoin: the answer to Russia’s payment and China’s sanctions problem

Russian companies have encountered payment issues in their transactions with Chinese partners. Chinese banks are stricter towards transactions with Russia after threats of secondary sanctions from the US.

Bitcoin would allow China to continue trade with Russia unabated while making threats of sanctions look silly and pathetic. And causing an economic boom while they are at it!

The US has always been the defender of free flow of information, trade and transactions. China declaring that it is a universal right to trade and transact freely, will make US threats of sanctions look silly and pathetic.

By allowing Bitcoin (and stablecoins on Bitcoin infrastructure) tens of thousands of entities in China would be transacting with tens of thousands of entities in Russia. Nobody will be able to stop it.

The US won’t be able to interfere and neither will the Chinese government. It provides the perfect excuse to continue trade with Russia. While at the same time providing the world with an alternative to the ever tightening grip of western governments on trade and their economies.

Sanctioning China for the free flow of goods, services and money will make the US look like a hypocrite in the eyes of the world. Besides, China will experience an economic boom that will catapult it to be the #1 economy on the globe. In a very short time frame…

It will require the Chinese government to relinquish its perception of control, which probably won’t come easy to it. Luckily El Salvador provides an example.

El Salvador and Bukele show that economic freedom alters the contract between government and citizens without the government losing legitimacy.

On the contrary, El Salvador’s government and Bukele in particular have only become more popular by providing their citizens with better lives through economic freedom.