North Korea has amassed upwards of $670 million worth of bitcoin and other currencies, according to a panel of experts reporting to the UN Security Council. Their report, set to be published this week, revealed how North Korea is stockpiling cryptocurrency in order to circumvent strict economic sanctions.
RT @cryptoretreat: /r/bitcoin: north korea has amassed upwards of $670 million worth of bitcoin and other currencies, according to a panel of experts reporting to the un security council. https://t.co/PVT0w14DWe
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Now, that's interesting! Well, huge amount of news concerning north korea are fake, or fetched (so better watch out) but looking at the source of that info, it seems fine for me. Wonder how many FuturoCoin they have ;d
I am a hater of the bullshit believers of fantasy currencies and nonsense that people spew here. The reality is that Bitcoin is a great secure middleman, like basically the ACH, the exchange. We start in fiat, end in fiat, and use Bitcoin/Block Chain to provide a secure way to transfer from one to the other overseas. Regardless of what your fiat starts in or finishes in, Bitcoin is the price we trade at, just as the same as the foreign exchange, except the foreign exchange of bitcoin is rigged by places like Gemini and other exchanges.
If NK keeps accumulating BTC, it will be hilarious when one day NK is richer than the central banks of all the world powers. Heh, maybe it will be dangerous, but I can’t keep from feeling warm and fuzzy when I think about it.
They can do that but its only for short-mid term, long term their country will ultimately go to shit if they continue their archaic ways.
Its like banning the internet. Once, every country starts using internet but you don't, you will be the poor country.