Bitcoin for Afghanistan and Taiwan

[cr1776]

Given the events in Afghanistan over the last week, it is a great example of where bitcoin could have been of great use to the people of the country.  The currency, the Afghani, fell to record lows.  Anyone who owned bitcoin was protected and could escape the country with their assets, not worrying about capital controls or confiscation at the border.

Given that China sees how weak the current US administration is, Taiwanese should beware and should have escape plans in place:  assets offshore in the US, EU, Switzerland etc and some large percentage in bitcoin.  The people of Hong Kong had an opportunity to do so, and probably still have a slight window, but right now Taiwan is in a place where the people should be concerned about the communists at their door.

[yenhuang]

Given the events in Afghanistan over the last week, it is a great example of where bitcoin could have been of great use to the people of the country.  The currency, the Afghani, fell to record lows.  Anyone who owned bitcoin was protected and could escape the country with their assets, not worrying about capital controls or confiscation at the border.

Given that China sees how weak the current US administration is, Taiwanese should beware and should have escape plans in place:  assets offshore in the US, EU, Switzerland etc and some large percentage in bitcoin.  The people of Hong Kong had an opportunity to do so, and probably still have a slight window, but right now Taiwan is in a place where the people should be concerned about the communists at their door.

Wasn't Taiwan Island abandoned by the United States in 1979? According to the Global Journal, experts warned that “the failure of the United States in Afghanistan should serve as a warning to the separatists on the island. They must understand that they cannot count on Washington, because Afghanistan is not the first place where the United States abandons its allies, nor It will be the last one. "

FX168 Financial News (Hong Kong) News On Wednesday (August 18) after the Taliban took over the Afghan capital of Kabul, the Afghans panicked and ran to the bank to grab cash, only to find that their money was locked. Bitcoin extremists have also taken note of this news. They believe that cryptocurrency can solve the problems in Afghanistan or prevent the outbreak of war from the beginning.

I think it can explain several problems.
1. The leaders of Taiwan Island are too spineless, and they are often like pets. I also do not think that China will use force to reunify Taiwan Island (although it will not give up the use of force). When the balance of American interests is out of balance, he will choose to abandon Taiwan.

2. All wars and all overseas military operations of the United States have only one purpose: to consolidate the US dollar's status as the world currency hegemon. This is very obvious. There are no assumptions in life. All kinds of speculations will appear only when difficulties arise. The war in Afghanistan and the freezing of bank funds indicate that in the centralized currency system, you have no choice. Bitcoin will be pushed onto the stage by history.

[NotATether]

Given the events in Afghanistan over the last week, it is a great example of where bitcoin could have been of great use to the people of the country.  The currency, the Afghani, fell to record lows.  Anyone who owned bitcoin was protected and could escape the country with their assets, not worrying about capital controls or confiscation at the border.

Not a good idea though. If people see the Taliban use it (and let's face it, that's inevitable if the common people start using it) it will give bitcoin a bad name that we can't really recover from as long as it's used there.

[Sweetbtc]

Bitcoin is not yet fully payment system like fiat. Bitcoin is high volatile and common people of Afghanistan would not like it. Well devolped countries should choose bitcoin for payments purpose than off course some small countries will also adopt it.

[Zedpastin]

Not a good idea though. If people see the Taliban use it (and let's face it, that's inevitable if the common people start using it) it will give bitcoin a bad name that we can't really recover from as long as it's used there.

I think I remember reading a couple of years ago that terrorists were found to be using Bitcoin to buy weapons. I cannot remember if this was a legit claim but I have heard other people say that they think Bitcoin is used by criminals it does not matter if the claim was legit people will believe it without researching it.

Bitcoin is not yet fully payment system like fiat. Bitcoin is high volatile and common people of Afghanistan would not like it. Well devolped countries should choose bitcoin for payments purpose than off course some small countries will also adopt it.

Bitcoin is a full payment system and operates like fiat but with improvements the problem with Bitcoin now is the fees and the high volatility that has nothing to do with Bitcoin not being a full payment system but the nature of the people using Bitcoin. Afghanistan is not a small country and is one of the richest if you count the amount of oil they have. Do not confuse developed countries for being the richest countries this is no always true because some countries that are rich have been in a state of war for decades like Afghanistan.

[cabron]

https://youtu.be/B6l5ZuTON9A?t=314

The Chinese foreign ministry spokesperson Hua Chunying said to the Taiwanese that they could be the next too. What happens to Afganistan could happen to the Taiwanese and the unification of Taiwan to China shouldn't be stopped. It's a strategic mind game for them.

Given the events in Afghanistan over the last week, it is a great example of where bitcoin could have been of great use to the people of the country.  The currency, the Afghani, fell to record lows.  Anyone who owned bitcoin was protected and could escape the country with their assets, not worrying about capital controls or confiscation at the border.

Given that China sees how weak the current US administration is, Taiwanese should beware and should have escape plans in place:  assets offshore in the US, EU, Switzerland etc and some large percentage in bitcoin.  The people of Hong Kong had an opportunity to do so, and probably still have a slight window, but right now Taiwan is in a place where the people should be concerned about the communists at their door.

They should be a concern but what else could they do but fly away from there if they don't want to be caught in the middle.  They should be buying Bitcoin right now or they end up like the Afgan president who loads a huge amount of cash in his car while fleeing.

[Phanditha Echevarria]

Yes, holding Bitcoin is the best way to avoid the effects of war. The Afghan people are now suffering from the devaluation of their own currency. This is especially true for Taiwan. Taiwan is a pawn used by the United States to contain China. If it fails to achieve its effect, it will inevitably be abandoned by the United States. It is possible that the Taiwan dollar will disappear completely and be replaced by a digital renminbi.

[dansus021]

maybe in afghanistan bitcoin payment already been there for **** funding it just my thought. but for country payment umm i dont know since there still problem on their government

[SquirrelJulietGarden]

Not a good idea though. If people see the Taliban use it (and let's face it, that's inevitable if the common people start using it) it will give bitcoin a bad name that we can't really recover from as long as it's used there.

We don't know Taliban used it or not. The seized money is from Afghanistan government.

Cryptocurrencies are known as tools for money laundering. Bitcoin is provided on many crypto tumblers. Nevertheless, it does not because Bitcoin was created by satoshi to be a tool of money laundering. Gun powders and gun were created not to be tools for terrorists, etc.

Bitcoin is a full payment system and operates like fiat

Bitcoin network does not operate like fiat through central banks. Your comparison is inaccurate.

but with improvements the problem with Bitcoin now is the fees and the high volatility that has nothing to do with Bitcoin not being a full payment system but the nature of the people using Bitcoin.

You can choose fee to use if you know that you can customize fee for your Bitcoin transactions and if you store your bitcoin in non-custodial wallet from which you will broadcast your transaction.

[Kong Hey Pakboy]

If China pushes Taiwan to the point that they have to defend and go on a war against them, a lot of countries will back Taiwan and Taiwan will take the last resort of making the remaining pieces of cultural heritage of China destroyed forever so they really can't go doing that and I don't think that China wants a war too. Afghanistan is another story, bitcoin could've helped but the invasion of Taliban was so fast and it caught people off guard plus the Taliban wasn't a threat because Afghanistan's armed forces have the US arsenal left behind.

[Mpamaegbu]

If people see the Taliban use it (and let's face it, that's inevitable if the common people start using it) it will give bitcoin a bad name that we can't really recover from as long as it's used there.

Let's face the fact, what goes on in Afghanistan isn't a democracy. You only talk about the "Common People" and their feelings in perspective when it's a democracy as citizens get to air their divergent views, be heard and addressed. But in a dictatorship like we're going to experience soon in Afghanistan, the commoners don't have a say. Again, from the look of things, Bitcoin won't even be considered in the country since it's purely an Islamic state now. Muslims don't really welcome the Bitcoin idea as most of them think buying and owning Bitcoin/Cryptocurrencies is akin to gambling. Just the same way Muslims also frowns at interest based loans.

[yazher]

Most likely if their economy will fall, their currency will lose its value and the only thing you can rely on upon terms of currency is when you have to save bitcoins in your wallet to use for emergencies if something like this will happen. Because remember you can store it without using any smartphones or computers just the seed phrase will do and you can pretend like you don't own anything at all. I see where the OP is heading with giving this kind of idea to the current situation of Taiwan. They will have an option to do this kind of thing if something goes wrong with them in the future.

[avikz]

Given the events in Afghanistan over the last week, it is a great example of where bitcoin could have been of great use to the people of the country.  The currency, the Afghani, fell to record lows.  Anyone who owned bitcoin was protected and could escape the country with their assets, not worrying about capital controls or confiscation at the border.

Given that China sees how weak the current US administration is, Taiwanese should beware and should have escape plans in place:  assets offshore in the US, EU, Switzerland etc and some large percentage in bitcoin.  The people of Hong Kong had an opportunity to do so, and probably still have a slight window, but right now Taiwan is in a place where the people should be concerned about the communists at their door.

These are the exact reasons why fascist and regressive countries have either banned bitcoin or in the process of doing it. Because governments do not like people to have control over their own assets, rather they want to control everything they can.

Bitcoin is indeed a great tool to avoid such intervention from the government dogs. We have seen that in the past when protest against China erupted in Hongkong. I am sure many people are using bitcoin solely for this purpose. But governments are furious. Recently Federal Reserve president said few lines on bitcoin.

Read here: https://www.marketwatch.com/story/crypto-is-95-fraud-hype-noise-and-confusion-says-feds-neel-kashkari-11629236416

[NeuroticFish]

Anyone who owned bitcoin was protected and could escape the country with their assets, not worrying about capital controls or confiscation at the border.

Depends on how you store your Bitcoin. Hardware or mobile wallet could be risky if the inspector have knowledge about storing Bitcoin and decide to check your stuff / smartphone.

Whether one has hardware wallet or not, he has to keep the seed safe and the wallet protected.
Indeed, the mobile phone app and other means to easily access the coins should be removed from sight and the seed has to be also encrypted, but can easily be done.
And another HW can be bought when the owner of the coins reaches a more safe county.

I do hope for the best for the people that's now in Afghanistan, since probably the tough days are far from over for them  

[leea-1334]

Given the events in Afghanistan over the last week, it is a great example of where bitcoin could have been of great use to the people of the country.  The currency, the Afghani, fell to record lows.  Anyone who owned bitcoin was protected and could escape the country with their assets, not worrying about capital controls or confiscation at the border.

Not a good idea though. If people see the Taliban use it (and let's face it, that's inevitable if the common people start using it) it will give bitcoin a bad name that we can't really recover from as long as it's used there.

If I am not mistaken, al Qaeda, Taliban and Isis all already started using Bitcoin. They make international trade already and because US dollars and bank routes are difficult to make, crypto was the way for some of them.

So maybe you are right,,, using it might make US and others think YOU are part of the Taliban.

[dkbit98]

Don't hope you can run and escape global economic collapse that is slowly spreading around the world, so US or EU and not really safe havens and could soon turn more into newage concentration camps like in Canada or Australia.
I would say that safest countries are located in Latin and South America, but only outside big cities, and I think that having some Bitcoin and other hard assets is essential for surviving upcoming years.

Depends on how you store your Bitcoin. Hardware or mobile wallet could be risky if the inspector have knowledge about storing Bitcoin and decide to check your stuff / smartphone.

You know that iPhone can now scan your phone for your ''safety'' and I think that most smartphones have backdoors that governments can hack even without your permission, there are even laws forcing you to tell them your password, and that is crazy!
Similar thing can be said for hardware wallets, but miltisig fixes this and you can just bring seed words with you, maybe even in binary form like this on metal or paper:


https://github.com/jakob6102/seedcard

[DapanasFruit]

You know you are so right and people in Afghanistan should have considered getting into Bitcoin before the collapse of their government and the entrance of the Taliban forces. Certainly, life can never be easy and can be so tough under the new terroristic regime despite the words of promises by the new leadership. Of course, it is now too late for them. Other countries that may experience the encroachment of China should take heed and invest more with cryptocurrency as a way of storing value and a way to protect their wealth. Now, isn't it amazing that we are now seeing the beauty of Bitcoin and cryptocurrency in action?

[dothebeats]

Many will come to the aid of Taiwan, that’s for sure. The country housing one of the most important processor manufacturing companies in the world will surely be safeguarded by its stakeholders and those who have vested their interest in the said company. Also, China will have a hard time reunifying Taiwan with the mainland with the amount of pressure from the UN and other countries against the possible invasion. Taiwan could adopt bitcoin for other purposes, but certainly not because China is threatening to invade them.

Afghanistan and Taliban is a different scenario; very far from Taiwan and China. In the case of the former, the citizens were never free to begin with, and most have had no money to bitcoins for themselves.

[Gyfts]

Taiwan, not quite yet, but they would be better off storing away their currency into crypto because they won't be able to rely on the US to protect them against Chinese aggression. Afghan's are unfortunately too poor to begin with, so I'm not sure how quick they'd be to adopt crypto when their currency is already failing. Lower class usually has a problem with a fiat to crypto transmission, and it doesn't help that the entire Middle East is primitive in technology. The number of folks that are using Bitcoin to improve their situation in Afghanistan has to be next to nothing.

[crwth]

I like the idea of having protection from what currency they have. I hope that a lot of people from there have managed to stash some cryptocurrency to prevent those losses that can incur from what you have said. I didn't know that Taiwan is in a rough spot now or is in the hot waters with the recent happenings. I hope nothing bad happens to them though.