So, imagine we have the following series of events trigger one another:
- Russia invades Ukraine
- The US sanctions Russia economically by blocking Russia's access to the dollar or the SWIFT financial system so they can't make international bank transfers
- Russia responds to the sanctions by taking a positive approach to crypto, maybe making Bitcoin legal tender like El Salvador to lessen their dollar dependency, maybe even adding A LOT of Bitcoin to their national reserves. Russia can now resume their international money transfers.
- Having a superpower like Russia suddenly embrace crypto makes it explode in value which benefits Russia tremendously economically.
- Bitcoin has now been turned into a political weapon. The US can't accept having a weapon like that used against them and can't accept the sudden economic success of Russia, so they respond by banning the use and possession of Bitcoin and any other decentralized currencies that Russia might use to bypass sanctions.
- Bitcoin continues to exist in the future as long as computers are still running and electricity is produced, but will be a lot smaller in market cap and will be mainly associated with countries trying to bypass sanctions all the while central banks in every developed nation introduce their own government controlled cryptos one by one.
Do you think the above is a likely chain of events or not?
Disclaimer: I realize this is a rather dystopian future for Bitcoin I am painting here, but I'm not in any way saying this will happen, I just like discussing different ideas and this was a thought that came to me while reading up on the current Ukraine/Russia/NATO crisis on Twitter.
Please feel free to share your input.
And sorry for the possibly weird English sentences (it is not my native language)
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