Recovery Seed Backup Devices

What does Russian mean for blockchain?

Russian has the buying power of about 600,000 billion rubles and 125 billion dollars worth of gold.  Rubles are going to keep going down in value as no one wants them and US companies pull out of Russia.  If I had and Rubles, I would be using them to buy Bitcoin, BNB, Ethereum, and Monero as quickly as possible.  Here is my thought process.  Binance is decentralized and it is unlikely that hackers would be able to take it down.  Binance Smart Chain has the best fees, the best defi, and the most options for an ERC20 chain.  If you think about it, the compeittors Avalanche, Arbritrum, and others don't have an onramp like Binance.  Binacne can easily turn fiat into crypto and that gives it a significant advantage.

Ethereum has become the main smart contract language for the blockchain space.  There are layer 2s out there competing but when it comes to safety, I would rather rely on good ole Ethereum and stay away from Wrapped Ethereum.  Wrapped Ethereum forces you to rely on multiple transactions to stay safe.

If you look at prices today, you will see that Zcash, Dash and Monero are all up a bunch.  I have done my privacy research in the past and I am going to assume the same things are true.  Only Monero is safe.  Zcash and Dash are not safe enough.  Ethereum can be safe if you wash your Eth using and use it properly.  If you don't want your transactions to be seen, you need to start a clean wallet and fund it with Monero or Ethereum from Tornado Cash.

If you would like to wash your Bitcoin, we suggest converting everything to Ethereum and washing your Ethereum instead.  Once you have clean Ethereum you can use trustless exchanges to transfer the Ethereum into Bitcoin.

If I was living in Ukraine and my house was getting shelled, I would convert all of my assets into digital assets and send my wife and kid to Hungary with the majkority of our diigal assets.  I would save a little bit hidden but not much.  I would be too afraif of having it taken from me be force as I stayed back to fight.

Russia sells about 10 million barrels of oil per day.  That is a lot.  If all of sudden that oil was only for sale in Bitcoin, there would be a mad rush on Bitcoin and Russia will build up a Bitcoin warchest very queickly.  I think Russie will test out the weaker protocols and see if it can hack them.  How secure is Avalance and Harmony?

I wouldn't be surrpised to see one of those networks fail.  I am going back to the good old boys for now.  Its been fun playing an staking an dlosing money on NFTs but not it is time to but my money into safet as the world burns.  Bitcoin is still the worlds best store of value.  Ether is the most useful for Smart Contracts.  Mana is the best for digitral land. BNB is the coin affiliated with the biggest centralized excange.  That is what I like.  I also have some Luna because it was up 20 percent today and I couldn't resisst.  You can now soft state it using Kraken and earn 6 percent.  I am staking my BNB on trust wallet and getting about 8%.   If you have enough money and trust the right companies, you can make a lot of money just stakign your funds at the right place at the right time.

Leave a comment

Please note, comments must be approved before they are published