Bitcoin Forum

Russia is going to recognize bitcoin,so is it a potential and big market?How can I know more about Russia's market?

Russia already recognized bitcoin and they are planning to accept bitcoin and based on the other thread that i read, they want to monitor every transaction. The bitcoin market that will be created in Russia will have a great potential and it will be a big market because just imagine how russians love digital stuffs and they are one of the country that has an advanced system so i think russians will love bitcoin and it will become a big deal for them.

Well, I can tell you as a person, who lives not far from Russia and has a lot of friends there, that Russia is quite far from adopting bitcoins. Just considering that it is a big country with approximately population numbers 147 millions there are people that know about bitcoin and even started using it a couple of years ago. But MOSTLY Russians are not familiar with BTC. I guess it now depends on government. And if the government accepts bitcoins, for sure it will become popular, commonly used and, I think, will influence bitcoin price :)

The problem for Russian's is how oppressed & controlled they are. Even if Russia does embrace bitcoin I doubt the people will have much freedom, they won't be able to avoid taxes as easily as some of us can via bitcoin.

Japan has already legalized bitcoin if Russia follows the suit that will make it one of the biggest bitcoin market.
There are lots of Russian users here on this forum also and it seems btc is very popular in Russia.You can learn more about btc market from Russian users here.

Well, going to the Russian sub thread?

Russia has wmoney and that network was really large last time I've used with a lot of uses and a lot (really lot) of locations where you can pay with it.
But in terms of how big it is in usd value, ...meh.

At an average income of 500 euro per month, I don't see that many people jumping into the btc wagon.

The only attractive part of bitcoin might be taxa evasion in russia, but there evasion is done by other means;).



It doesn't matter if they are 147 millions if their income is that of 10 millions dutch.

All Russia wants is control every bitcoin transaction on the planet, they are going to try to keep track of every transaction they can, they already claimed this, that by 2018, they want a big database to keep every merchant and consumer on check. Im not sure how they are going to try to achieve this to be honest.

I don't think people should rejoice over this, the way they want to go about this is not good for Bitcoin because almost all the transaction will be monitored, I think this will give anonymous coins chance to shine in Russia if they can appeal to the users over there

Yeah, Russia seemingly embraced bitcoin a while.ago, as they are pretty cyber savvy as a culture and bitcoin is the official currency of the internet, LOL. A few exchanges are located in that vicinity as well (Yobit comes to mind). I don't know about the regulatory climate over there concerning this, but, unless it became a major interest of the state (seems like there are bigger fish to fry ATM) wouldn't really be a deal, so to speak.

I think they are recognizing the fact that blocking bitcoin is not going work. Many bitcoin experts are Russians. However, for the past many years, the policies in Russia have been changing all the time and I won't be surprised if next week they decided to ban bitcoin (again).

I am really not sure about that future stance of Russian government yet. Because just one year back, they threatened to jail the bitcoin users and to stop the bitcoin use in their country. So their current stance of recognizing bitcoin may be a game to collect information about bitcoin users in the country.

However, it is too early to say anything because they haven’t yet come up with any policy to clarify their statement. If it happens, then definitely Russia will open a new horizon for bitcoin itself. The investors may claim a huge profit because of the price appreciation. But I think it is better to adopt wait and watch strategy.

Russia will into potential market most, partially big know more about Russia's market and It is Something that good.

Thanks for your answer.But how can I touch  Russians who are interested in bitcoin?

So how can I do that?Could you give me some advise?

Year,just see how they will go.But I'm sure bitcoin will be better and better,this is a process.But if you had any idea for Russia,please share with me.

haha maybe,but hope it's going well.

How many exchanges in Russia?what are them?

It is, it's really potential for bitcoin and russia have a big market too. I think Russia is one of the most country that the people use bitcoin after USA and China, CMIIW. If Russia really addopt bitcoin, it will be a big news and the bitcoin price will increase for sure. The market on Russia is also big though.

I think it is since there are plenty of russians using it. Though I would say there more russian hackers and scammers though. Most bitcoin ponzi schemes are ran by russian. It's a good market but you may probably run in problems with their anti-money laundering policies, so do take note of that too.

Russia is a very big platform which can help bitcoin reach very big heights. Once after the acceptance from Japan, Russia making plans to implement it as an currency to go digitalized as well take their economy towards growth will act as an example if everything goes fine without any flaws.

Start reading whatever you can about news from Russia, keep their internal events in mind so you can get a general guess as to when they might start buying or selling more Bitcoin, keep up to date as to what the government is deciding, and start to get involved with exchanges that Russians are likely going to use.

Keep in mind the Russian government will probably start to care about something like this, since they want to track all the transactions that occur, last I heard. Don't piss anyone off and you should be relatively fine.

Yes, Russia with its big population and burgeoning economy can be a big boost to Bitcoin. The government is set to legalize Bitcoin by end of next year as they are preparing to lay down the policies and regulations on Bitcoin. Although this can somehow restrict the movement of Bitcoin the advantage is that it will be recognized by the government as an asset and can already be utilized just like the usual money. I am sure that the government is compelled to recognized Bitcoin because of the volume of usage within the country and they don't want to be left behind. Russia is a big market and has a good potential to push the value of Bitcoin some more. Nice one, Russia!

Are you Russian?

yeah it would be a problem faced bitcoin users in Russia, with a market owned by the government then they can intervene the market. Especially with government services that provide tax will be charged to users. But I think it does not matter as long as bitcoin users in Russia can freely use bitcoin. Thank you

Do they really said that they want to monitor every transaction in the blockchain (or at least that used by Russian citizens)?

How exactly they plan on doing that? They need to find out who is bitcoin owner.

Classic Russian gambit - they are control freaks, they probably would accept bitcoin just to justify surveillance program.

I think there are a lot of bitcoin user from Russia, and it got a huge potential to become very big and I see there are a lot of bitcoin site written in Russia language, to know better I think you can go to local board and ask their opinion and do survey at there

russian people were already using bitcoin, even before this new attempt to make it regulated, therefore i'm in doubt that this new decision could lead to a better marketcap of bitcoin

those who were using it, were using bitcoin because of freedom, now that thye want to strict regulate it, there are chances that it would bring away some of the old people that were using it

The problem is Russia is that they want to regulate bitcoin instead of recognize it without intervention.

They want to regulate like they regulate every single one of their citizens. The want to track every single transaction(I don't even think that is actually possible, though), and track down illegal transactions and persecute them.

If Russia wanted to recognize bitcoin, then they could do it in a non- or less interventionist way. I mean look at Japan.

I think that a lot of Russians already use bitcoin, just look at the Russian board.

It'll actually be bad news for them that the government is deciding to track all transactions by 2018. unfortunately.

Yes, Russia would be a big market for bitcoin.Already,a bitcoin exchange is there now which you can find in my signature below.Russian government has decided to regulate bitcoin so that ot could get revenue from bitcoin earnings.Russia is a super power and it would be much helpful for bitcoin progress.Japan,then now Russia have started legalizing bitcoins and it would make bitcoin price to increase more.

a lot of the news say that bitcoin active users after china is russia, I think this is a good thing for the development of the future because of the bitcoin can be followed in other countries.

If it cannot be controlled then just regulate it.
I think that is what they are really trying to do now. Which could be impossible if they want every transaction to be monitored. They will be open to merchants for this payment options not really for the good part but the other way.
There will no anonimity anymore if that happens which wiuld be lovely for the government side. But how abiut those who wants their coins just to be in private. This is way to different from Japan's acceptance.

Without doubt Russia will serve better for the growth of bitcoin as digital currency through the implementation in the various functional sectors of the government. It will also make other governmentsto start using bitcoin, because Russia is the nation that once opposed bitcoin and now after a long research believe it's potential.

That might be true but that doesn't mean china is the top by active users;). A 6th-7th place might be accurate for them.
With the fall of the Chinese trading scams the true volume of bitcoin trades shows china is clearly lagging behind us and europe.

And in terms of actual use, no, there are so few places in China where you can actually buy something with bitcoins compared to the us that I really doubt in terms of daily user base china is making the top 5.

if Russia becomes a huge market for bitcoin, certainly has risks not good because there is a fear they will control all bitcoin transactions, it seems this is not a good signal for the user bitcoin
hopefully this will never be achieved

That is another reason why Russia isn't the best place to operate with bitcoin, there are way too much control on citizens.
But that made me up to a question, if police in Russia is so well-educated to know about bitcoin?
If they have over 100 million population, then it would be hard to control every unit to not use bitcoin/not use it for illegal activities.

Another thing is that we dont have internet in every place in Russia, which also makes bitcoin adoption a harder task.
Plus, how many merchants are accepting bitcoin as a payment method in Russia? I assume that not many, probably the number is really small.

Russia has solid user based of bitcoin. Only reason I can think of Russian government is for tax purposes. But it still up to the user to collect report and remit the correct tax to the appropriate tax agency. Another is the KYC/AML rule,.Every citizen should comply with it and complying would make the government track your every transaction. I hope regulating it won't make any difference for the citizen not to used bitcoin in Russia, because Russia is a big market for bitcoin enthusiast.

How can I enter Russian bitcoin community?

sure,it needs to be regulated.

If you are not Russian that could be hard. To my knowledge they are very strong but also prety closed community so maybe the best would be with some recommendations. I don't know if this is true but aledgley there are also many hackers in their Bitcoin community so depends also what are your goals.

Yes ,China is very polular,now we are waiting for the regulation. Japan has been much ahead of us.

I think Russia is a potential market,so I want to explore that.Are you Russian?

can I enter their group?I'm really interested in the market.

I am not really sure you want to enter Russian market, cause they are not just recognizing it, they are going to be putting curbs. They will make you put on record you own Bitcoins, then they make you pay a tax on it. Plus they may ask you pay fees also and then the point which worries is they may put a cap on it. They may even force you to buy it from Russia government exchange only. And if all countries follow suit, it really won't be nice at all.

Like Japan,they accept bitcoin and recognize bitcoin as a paymnt method,so now Japan is the biggest market,if Russia was following Japan,I think it's good to the economic and have influence in bitcoin price like you said.

By the way,can you tell me how to get in touch with Russians who are interested in bitcoin?Because I am really interested in bitcoin.Thank you.

Here is my skype ID:sosobtc-Regina and my whatsapp No. :+8613185216812   Please add me  if you could.I want to talk more about bitcoin in Russia.Thank you.

Yes I want to enter Russia market,how I can do that?

We cannot tell what will be the movement of Russia towards bitcoin. Bitcoin is still considered lucky since it was banned before in Russia but later on the banning was released and using bitcoin was not considered a crime anymore. But the problem still remains that Russia is still suspicious and watchful over bitcoins and thus it is hard for Russia to follow the footsteps of Japan today.

Like China and Japan, russia is a country with strong economy and so modern science and technology, it is wrong to say that they do not use bitcoin, In their country, it is always growing steadily in the world market, so russia is also a big country of bitcoin. I was waiting for a special day when legacy bitcoin. It will be great.

Well, I'm pretty sure that most of the altcoins developers are coming from Russia, just figured it out from their typical name and yeah it also indicates that Russia is really a potential market for crypto things to grow as many of them have already interested into it. I suppose that the Russian which already here and joining the discussion regarding crypto world also represent their whole country about the interests regarding the crypto world. Just need some little introduction and everything will grow.

As soon as they want to regulate Bitcoin, it's NOT good.

We'll get our transactions monitored and they will try to limit the Bitcoin use in Russia. The actions are taken "against Money Laundering". There are more criminals out there than there are using Bitcoin, do you really think BTC is the #1 problem there? We have to first solve the tensions around the world.

Bitcoin was meant to be ANONYMOUS => BTC Regulation = AGAINST BITCOIN!

Exactly, there’s a lot of dumb rummor’s going around with no basis. I would be surprised if any country acknowledged Bitcoin as a currency for at least the next 25 years. It is just not feasible.

On the other hand if we just treat it as a hypothetical, assuming Russia did allow Bitcoin that would definitely create a huge market over there and probably drive up the price of Bitcoin as more people use it. Russians might even start using it exclusively.