Bitcoin Forum

EDIT - apparently this was bad information... please remove... thanks

That's an article from February 6, 2014. A 2014 Russian news can not add bearishness to a Chinese bull market in 2016. Better luck next time. ;)

I missed the date. Thanks for the clarification.

So basically what they are saying is they want a monopoly on money and currency.

Good luck with that.

I really don't understand why Russia does not want to go along with the rest of the world. Cryptocurrencies are part of the future, everybody knows that.

I think the Russia is against the use of any other currencies outside of the ruble. Not only bitcoin is illegal, USD, GBP, EUR, RMB etc etc are all illegal...

Hasn't it been outlawed around 5000 times in Russia now? Yet not outlawed at the same time. Those crazy Russkies. They're so cryptic.

I feel the same. But I think, as a outsider it is impossible to understand the fine granularity of lawfulness in Russia. As far as I know, Bitcoin use was never threatened with imprisonment in Russia. So it was definitely on the low end of illegality. Besides Russians are intelligent and well trained to deal with stupid laws in their unique way of improvisation... :D

The main reason towards usage restrictions for alternative currencies is the fear of capital flight because of the weakened Ruble. Meanwhile the official stance towards Bitcoin has already become more friendly. I'm pretty sure that in the end, the Russian government will realize that Bitcoin offers a great opportunity to get rid of the US-Dollar as a dominating trade currency. The Russian Central Bank is already a heavy buyer of gold. Gold and Bitcoin have a lot in common, because both are free from counterparty risk. I would not be surprised to see the Russian Central Bank buying Bitcoin someday (earlier than the West).

ya.ya.yo!

Here is how it is with Russia. They don't care about bitcoin, all they care about is their own FIAT - Ruble.

First bitcoin ban was simply attempt to reduce and attenuate trade of currencies other than the Ruble in Russia.

And we all know what happened next. Bitcoin trade within Russia actually rose after the first ban, showing a total irrelevance of a Russian ban.

Russia possesses weak legal structures, they have no real way to force ban and control it.

no matter what they will do, they can not stop it even in russia, my best example is

i can just buy some gpu miner and start mining some shit coin and dump for bitcoin, then i would use those bitcoin to buy stuff on the web, without none of them noticing a single thing

i think ever state have their own policy and they have to follow that policy. i think it is no only happening in Russia but most of of the countries have yet limitation about bitcoin. my personal view is that they will be thinking about that what kind of effect will be the bitcoin of other fiat currency and on other businesses.

Now tell me how will they find out who is and who isn't transactioning in Bitcoin. Tell me how to stop them. They can't be stopped, because they're just like us. And now, with the ban, even more people will buy and sell BTC there.

Governments of the world think that if they just make a decree that people will adhere to it.

Of course that can't work 100% of the time for 100% of the people.

What government generally wants is a monopoly on money, which is pretty much bullshit.

if they kill off the exchanges then they probably will.

people take drugs regardless of what the law says because they make them feel good.

people would use bitcoin only because it's useful. if it stops being useful then no one's gonna want to accept it.

I do not know about EUR , I think EUR is allowed there, but it is right that along with bitcoin USD is also ban there, their banks are unable to do transactions with bitcoin. They should have to allow bitcoin at least to compete the world business.

It seems like they've changed their mind.
https://bitcointalk.org/index.php?topic=1557749.0 (https://bitcointalk.org/index.php?topic=1557749.0)
Would be legal soon. And it's a bullish news for bitcoin.

yes we are hearing this new for such a long time. but I think there is no reality in such kind of news. and if there is some reality in this news. even then its not  a problem because in the end every state has to accept bitcoin as a legal currency.

I think the Russian government still has some of the "USSR, I am the boss" attitude in them. They like to remain in control and in charge and do not need some new currency interfering in their business.

i think there is still not any conformation about this statement. i think these are just the false statement about bitcoin and most of the people from Russia using bitcoin without any fear.

Are we ever gonna get a definitive statement from these assholes?

Surely they have laws there, even if they ignore most of them, and to pass a law you need to declare your position.

such kind of news are wondering in the market for a long time. but still still no such action has been taken against bitcoin.