Bitcoin Forum

https://www.reuters.com/article/us-russia-cenbank-bitcoin/russia-turns-cold-on-crypto-currencies-idUSKBN1CF0RF

"Russia will block access to websites of exchanges that offer crypto-currencies such as Bitcoin, Russian Central Bank First Deputy Governor Sergei Shvetsov said on Tuesday."

How do you think the news of Russia banning crypto exchanges will affect prices? At the moment Bitcoin is up at $4900 and Ether is steady around $300. Is this like the China ban news?

How can we stop bans from spreading worldwide?

It will be totally useless. If they forbid trading cryptocurrencies by law and it will become illegal, it might work as most people will not risk it. But IP-blocking the exchanges? Looks like the bankers didn't hear about VPN yet ;)

That is a really good point. Russians aren't exactly known for following the rules. Especially they have a problem with following their own government. I still think there are a lot of people though who will move their crypto overseas and even a few who will quit altogether, but it doesn't seem to have made a dent in the price the way the Chinese ban did.

who cares about russia rotf!!! There are almost no exchanges in russia so w/e

That is not for the first time they have taken the step, but like previous time they may not be succeeded, their people continue trading bitcoin and taking part in ICOs even they their ministers already announced banned on bitcoin, but i think that their government officially still do not take any step, and that is the reason that people there still continue buying bitcoin becoming part of different ICOs.

i dont now know why people buy bitcoin +3000 per btc


price +3000 very expensive ....i remember when 1 btc ----- 1200 before some months

Well if you bought at $3000 you would have made almost $2000 profit / btc, so your post makes no sense.  I remember when BTC was $10.00 (or whatever price you want to insert there) but what difference does that make?

Will this start an inflow of Russian speaking bitcoiners and cryptcoin traders to do over the counter trading here in the forum? I reckon it will happen soon. We should be ready to help and accommodate them.

Maybe I should start an escrow service?

Russia already blocks more websites than China so this is not really news. When they start clamping down on VPNs is when there might be problems, trading volume might take a temporary hit.

This truly isn't news...  just more propaganda they are spreading to scare people away from crypto.  Don't listen/worry to the non-sense, crypto isn't going anywhere now.

I think by now people would have matured pass this kind of news, Russia is a great market but I don't think their influence in the space is like that of China and Korea. I wonder what will be the next news that will caught panic in the space but the market will rebounce

I have one question here

As i read this news yesterday, it stated they are banning the crypto.

Correct me if i am wrong

1)Russia is banning out the crypto, as in everything involved with cryptocurrency? Or it is just particularly exchanges?

2)When a Country "Ban" Crypto, Let's say if i cash out through Exchange that is not based in a banned country, am i still against the rules?

3)When Russia Stated they banned off Cryptocurrency, can they still mined?

Thanks , because the word "Ban" could be very situational where i am not sure if it applies to all of crypto or just particular exchanges

Nothing we can do as a community, other than making coins more decentralized so that governments can only ban websites and exchanges but not the infrastructure that is actually running the bitcoin network itself.

Personally though, this seems a lot like FUd, just like China as you said. People are speculating that China will ban bitcoin, but it clearly hasn't.

Seems to have no effect on bitcoin and altcoin right now, prices are still generally climbing.

Banning websites does not really stop people from exchanging their cryptocurrencies for other assets, and this trade can also happen in person and several other channels. I think our friends out there in Russia ought to embrace this technology and not fight it because people will always find a way to trade these assets.