Afghans turn to cryptocurrencies amid US sanctions

[TheNineClub]

A report from the BBC told that the Afghanistan government and Taliban's are using bitcoin and crypto as they have no option left after US Sanctions.
Same we see that Russians are also using bitcoins to prevent themselves from the bad effects of US sanctions.

Afghans turn to cryptocurrencies amid US sanctions

Do you think the bitcoin adoption of these countries and the reason for adoption is good for the bitcoin and cryptocurrency growth?

No, definitely not. Now, just to be clear, I personally think that cryptocurrencies should be available to all, no matter their political views, skin color, religion, etc, just like the internet is. However, the adoption of the aforementioned countries could prompt countries on the opposite spectrum to demand more centralization on crypto to have the ability to control it in situations like this. Now, is that doable, that's not that easy, but it can be done.

[Erumo]

US open sanctions against Afganistan? Rofl. These people dont care about sanctions. These people are undefeatable. They were in war against Soviet in 1978, now US is fighting them. 40 years of war and this country is not bent and broken. Two most powerful countries fought them and they keep on fighting. Turning to crypto will only strengthen them. The world will suffer from that. Afghan opiates will become more affordable.

[AmoreJaz]

In this case, you may think that's a good point of bitcoin and cryptocurrencies because they can bypass the sanctions from the USA and some other countries but we cannot forget what they do to their people, for some reason I have friends there and they gave me pieces of information about Taliban and Afghanistan government, unfortunately, maybe girls and women are in danger in Afghanistan and USA is trying to put the Taliban under pressure but they are using bitcoin to bypass the sanctions and that's not good at all.

as we see it this way, the role of crypto is somewhat not very nice. but this is one advantage when you are dealing with crypto, they can use it borderless without any intervention from 3rd party, unless they will convert their crypto to fiat. so if they are dealing with crypto, high likely that they have local exchanges as well to serve this market.
but what is happening in this country is somehow disturbing, don't know how to stop the abuse, but something should be done here. they have different approach because maybe of their beliefs or religion.

[danadc]

The only way Afghans APR have that their money is in their power and safely is through Bitcoin, but what implications will impose them? I do not know if they somehow have them restricted them to Internet services, but in the way the Afghans are with that terrible dictatorship is something where one could imagine.

In this article, a young Afghan talks about how good transactions can be made through her cell phone.:

“It’s also because we’re at a time when there are more solutions that allow you to trade cryptocurrencies on your phone and more people understand what it is.”

Source: https://www.aljazeera.com/news/2022/3/21/crypto-provides-fix-for-some-in-crisis-hit-afghanistan

Many Afghans like to receive everything they have from Crypto and pass it to cash, the new generations are the ones that are most adapted quickly.

[KennyR]

Whether it is an Afghan, or an American everyone is a human being. This means everyone have the right to make use of bitcoin. This is how it has been developed. Maybe the cause for which the same is being used may differ with people. Already the people are suffering out of different economic and state issues. By the time getting a solution could give some relaxation. Just with the term bitcoin is being used to fund Taliban, the common People's usage shouldn't be restricted.

[cabron]

Makes sense to use crypto because there is just nothing for Afghans in this world.  Even just stablecoin I think will work for them as long as the transaction fee will be a tiny fraction.

There are Volcanoes in Afghanistan, I think the Taliban government should also make use of them for mining BTC. They don't have money to govern the country anymore as we all know, their Billions were first frozen and will be distributed to 911 victims. Nothing will ever go for their country after that.

[yazher]

With the sanction trend all over a place which doesn't support the USA's propaganda, they still have some good options to save their economy from inflation which is a cryptocurrency where they don't really need to worry about the US bullying them. Why are they sanctioning a country which doesn't give them any threat? what if they are the ones who will gonna face some massive sanction right after their economy failed in the upcoming days? Countries nowadays should not rely on them and they need to build their own like China did without relying on anyone but they're just relying on themselves.

[noormcs5]

With the sanction trend all over a place which doesn't support the USA's propaganda, they still have some good options to save their economy from inflation which is a cryptocurrency where they don't really need to worry about the US bullying them. Why are they sanctioning a country which doesn't give them any threat? what if they are the ones who will gonna face some massive sanction right after their economy failed in the upcoming days? Countries nowadays should not rely on them and they need to build their own like China did without relying on anyone but they're just relying on themselves.

USA is a super power and there is no doubt about it. Most country's monetary policies are influenced by the US and their alliances. Since dollar is the global currency, it is very easy for US to put sanctions on any country as the dollar is their native currency. If you want to be independent, you need to build your wealth in bitcoin and then you do not care about the sanctions because you got the real freedom.

[Crypto Library]

I don't think so there were any bad things to stop the crypto growth. Because it reminds us that crypto is a world that is not controlled by anyone, and that Afghans and Russians can take advantage of it now, although I hear a rumor that Russia will be banned but I don't know how to do it.

[darewaller]

There is a big difference between Russians who use it, and Taliban using it. I mean Russians are not guilty in this war, the dictator at their top is the guilty one but there are so many regular citizens who are not guilty, there are some who support this war as well so there is no denying that, and those are guilty as well, but there are innocent ones who are against the war as well.

In the end, we are talking about Taliban who has killed and murdered so many people to take over a whole nation, this is a terrorist organization now in control of a whole country and if you put that name next to bitcoin then we are not going to look like good guys here. It would hurt the image of bitcoin more than it helps.

[omone1]

If they use crypto, they can still be traced or monitored. Nations should be allowed to lead their financial part, at the end, it's the common man on the street that suffers all these sanctions and not top government functionaries.

[ultrloa]

A report from the BBC told that the Afghanistan government and Taliban's are using bitcoin and crypto as they have no option left after US Sanctions.
Same we see that Russians are also using bitcoins to prevent themselves from the bad effects of US sanctions.

Afghans turn to cryptocurrencies amid US sanctions

Do you think the bitcoin adoption of these countries and the reason for adoption is good for the bitcoin and cryptocurrency growth?

The only thing bad thing that might happen on it is they include it to list of sanction unto their country and ban bitcoin for a while but they are the one who get hurt from it since their citizens cannot use bitcoin while afghan and Russian can continue to transact by using it anywhere they want. The good effect on it is they can see how big the role play by bitcoin in terms in economy since this is totally a life saver to people who want to escape the unfair things happen to them and no one can control them from using it. Also this will start the hype as many would provably see that bitcoin has been much used and been noticed again in the mainstream.

[perfect999]

With the sanctions happening plus the economical problems, it's no surprise for Afghanistan to resort into other alternatives, even more so in the case of Russians which has even more sanctions compared to Afghanistan. People who think that crypto currency is a saving grace from above are increasing specially those who have the mindset of a gambler or those that barely understands this industry. Now, will it be good for bitcoin and altcoins? Short term, yes. Mid term, no. Long term yes.

I only think that the effect will be noticeable on a long term. Since, we have seen the news of these countries that have adopted Bitcoin as of recent which includes Ukraine, Russia, and now Afghanistan, what changes have really seen that took place immediately? Nothing. So, short term and midterm? I don’t think so. I only think that the main effect that it would have will be on long term.

As you have pointed out here, nothing serious would happen, these countries can’t get their situation right now changed because of they chose to adopt Bitcoin. But it is possible that there are some cases they will be able to get through by making use of Bitcoin. Apart from that, there isn’t anything happen. And Bitcoin shouldn’t be seen as bad because of the fact that it can be used by these countries.

[dezoel]

Without sanctions we all know for sure that none of these countries were going to accept Bitcoin (most of them wouldn’t), but after they have been sanctioned, they now see the importance of having Bitcoin in their country and have decided that it is best for them to quickly adopt it or face the worst situation that is ahead of them.

Anyways, Bitcoin would be useful to them, but they shouldn’t really see it as a Savior because it wouldn’t really change much. The good thing is that there will be more people and institutions from these countries who would start investing in Bitcoin starting from now and it will help to boost Bitcoin on a long term.

[fuguebtc]

With the sanction trend all over a place which doesn't support the USA's propaganda, they still have some good options to save their economy from inflation which is a cryptocurrency where they don't really need to worry about the US bullying them. Why are they sanctioning a country which doesn't give them any threat? what if they are the ones who will gonna face some massive sanction right after their economy failed in the upcoming days? Countries nowadays should not rely on them and they need to build their own like China did without relying on anyone but they're just relying on themselves.

The US will punish any country if it doesn't do as they please, they always open their mouth wanting to bring peace to the world but what they do is exactly the opposite. With the advent of cryptocurrencies now, countries sanctioned by the US no longer have to fear or depend on the US. They can start to rise on their own with the help of cryptocurrency, I hope these countries will soon turn crypto into their own currencies and no longer need to depend on the dollar.