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A lot of people are reporting this as confirmation (yay social media echo chambers) of a previous report, but I'd guess they don't have a red phone to China or Russia and are just restating it.
That interest is no longer theoretical. China and Russia have reportedly begun settling some energy transactions in Bitcoin and other digital assets. Bolivia has announced plans to import electricity using crypto. And French energy utility EDF is exploring whether it can mine Bitcoin with surplus electricity currently exported to Germany. These are early signs that Bitcoin is evolving from a speculative asset into a functional monetary tool—particularly in economies looking to bypass the dollar and reduce exposure to U.S.-led financial systems.
It seems like these would be large enough for people to notice the on-chain action, right?
I'd be surprised if this could be going on completely behind the scenes.
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37 sats \ 1 reply \ @OT 10 Apr
Well, if they are mining there's no history behind it. It just looks like an unknown TX going to another unknown TX.
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Good point
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Can always trade btc-e bitcoin for oil
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Is that what they're supposedly doing?
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Naw but wouldn't that be wild?
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What... is btc-e?
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An exchange from the old days
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particularly in economies looking to bypass the dollar and reduce exposure to U.S.-led financial systems.
Why would they want to do that? It's not like the United States is trying to bully them into buying 100 year 'century bonds' and accept tariffs or otherwise... lose "protection". Because that would be crazy
/s
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Yep, echo for sure the most likely
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better than buying physical gold, transporting it and smelting it in China for payments, which is what they have been doing so far.
while I hate Putin, bitcoin is for enemies, and the fact they didn't go straight to btc is baffling
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Tether... not Bitcoin
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They can split that into 100 payments, conjoin, and one will never know. We can speculate, but then, so what? It's about time. Russia has been laughing for a long time and saying, "What sanctions?"
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