[mbreese]

Yeah, you should look at that chart again with less than a 1day view. The inflection is pretty easy to spot, and it’s only getting started. Yes, small sample size and small volume, but there was a clear shift over the past few days.

For all of the post-fiat arguments for crypto, this will have an effect in crypto markets as well. I wouldn’t be surprised if this causes a new round of regulation as well.

[XorNot]

It's simpler then that: you currently can't trade things in and out of Russia, and can't turn rubles into other currencies: who outside of Russia wants to trade Bitcoin for Rubles?

[mrpopo]

Any wealthy person who has assets in Russia and outside of Russia could take advantage of this situation.

[XorNot]

How? Again: who internationally would want to give up Bitcoins for Rubles, when you could instead use them on literally anything else in the world. There's no expectation that Russian currency will go up in value in the near future, and definitely no expectation or even legal means to trade physical property.

[jacquesm]

I can think of several ways to do that, but they would require a very large sink or source depending on which way things go and you may very well end up holding the bag if the other parties are better at assessing risks in a very volatile situation than you are.