Bitcoin Forum

Putin Orders the Issue of Russia’s National Cryptocurrency – the Cryptoruble, lmfao this sounds just wrong to me.
They have cloned facebook, now it's bitcoins turn ... i can just lol

Makes sense that governments will try to replicate crypto currencies in the fiat system. I imagine all currencies being digitized in the future with bitcoin being one of the options that people can choose to use.

This is just the digital version actually of their national currency nothing more nothing less. And this can actually be a trend for many months to come until they would realize of the foolishness of such a decision. The big reason why we have cryptocurrency is to get away from the control and biases of the governments to do whatever they want to do at the expense of the people. When you have a cryptocurrency controlled by the government this can be a big joke and will end end as a mediocre attempt.

Will Putin hold an ICO for his new altcoin? That is not necessary since the government has the money. Instead they would just open it up for people who want to exchange their ruble to Cryptoruble.

Good luck, Putin!

He should just name it after him - Putincoin :D By the way China also has a lot of their own crypto currencies so not surprise Putin is making his own too

It's incredible that this is happening with cryptocurrencies, but this from Russia and Putin is really making me very shocked and makes me think about so many things. But it is a disaster I do not understand how they are going to create a cryptocurrency that only the Russians can buy it since it generates a closed market, and I do not understand which is the role that the price will realize in this one, it is so weird.

where did you get such news ?

is there a valid link to show the news, maybe you can include url link from a valid address.

Maybe just selling cryptoruble in ratio of 1:1 with Russian's currency which is ruble. There'll be no ICO since there's no project will be developed by creating cryptoruble but merely digitalize their local currency.
It maybe sounds awkward if Russia is really trying to make their own cryptocurrency but atleast, a good thing for the crypto world. and also, to avoid tax evasion therefore any cryptocurrency users will have reduced risk of being accused for criminal act such as tax evasion.

http://www.dailymail.co.uk/news/article-4989410/Russia-launches-cyber-currency-CryptoRuble.html

And there's many more news regarding this event from many reliable sources, not just a rumour.

putin coin seems a good name for his coin. All coin would drop down in fear cause of putincoin. i believe it would be great coin if its true. i wonder what kind of project that they will offer.

Yes, Puntin has released his own ICO_ Russia
I think the next will come to America and China
Gradually it will be popular all over the world

Is it putincoin?
If so will there be trumpcoin later?
TapCanBinhCoin?

It's not an ICO. Heck, I would even hesitate to call it an altcoin. It's basically the Ruble, except in digital form. It's really hard to make assumptions right now, since we have no clue how it's going to be implemented. What I want to know, is how its value will be driven. Will it have the same value as the Ruble, and is that even possible? Does this mean they will be basically increasing the currency in circulation? Will it have anonymity features as implied by the Crypto prefix in its name?

The way I currently see it, it won't be a direct competitor to Bitcoin since they have core differences in functionalities. They will only be direct competitors when it comes to spending. If you're looking to strike up deals without the involvement of third parties, or if you want to place an investment, you're going to have to use Bitcoin as I don't think CryptoRubles can provide that.

Lol yeah that would be fun  :D As always Putin always does something surprising, just few days ago I saw an article where he was bashing on bitcoin calling it not good for their country, as it would be used for money laundering and stuff. And now here he is announcing a new crypto. Although I don't think it's correct to use the word crypto here as what 'cryptoruble' is just digital ruble, completely controlled by putin. Snot exactly a Cryptocurrency.

It is just the matter of time before most of the countries create their own version of crypto asset. I don't see any reason why Russia should be an exception.

Who cares about that my friend? Central government and cryptocurrencies just do not go hand in hand. One cannot FORCE people to do anything. This is something Russians have never learned.

It is not ICO! Russia is going to create their own crypto, but from crypto there will be nothing. It will be centralized and unuseful!

I suppose they just want to see how the crypto community is reacting as the russian central bank is fighting against crypto, but the russian finance minister is for crypto. So there is a deep struggle inside russias powerhouse.

Not bad,i remember rubelcoin,putincoin,trumpcoin have been traded on c-cex.com hype exchange

The government started to notice that bitcoin is a very successful technology that a lot of people like and use. Bitcoin is also affecting governments because people can make transactions that are not detected by them and people dont pay taxes from profits earned through bitcoin.

Soon all the big governments will create their own cryptocurrency because they saw the huge price that bitcoin reached.

I dont know what to say about Putin running his own ICO. I dont think this is his main focus right now because it is not something huge that affects the Russia. There are no official news confirming that this ICO is owned by Putin. It may be just a lie to attract people.

First of all, if any government in the world plans to create a crypto asset, it won't through an ICO of course.
ICOs are used by individuals or organizations that don't have enough funds to start a certain project so they start raising funds from the public.

A county doesn't need that I guess specially a well financially developed one like Russia.
But even if they do actually create a crypto coin. What's the point ?

The main reason why most of us are into them is it being decentralized. Creating a crypto currency that is backed and controlled by a government is really nothing different than your normal credit card. I don't think anyone who knows and has enough info about btc will ever be interested in such projects.

Plus what is the benefit ? It won't attract anyone of the public. Telling them to leave their cash and use our digital form of money that has the same value of your cash. DUH ?

I still believe that all these are just rumors that were created by some day-dreaming guy and have been rotating the forum and popping up from time to time for no reason.

Cloned version of FB is better than FB :) However i agree with you. Russian cryptoruble is a joke and not more...

Is not true. :o

it's probably a joke
so I would not take it seriously

Sounds too perfect. I guess that if government will create own cryptocurrencies — bitcoin will be illegal and all its users - criminals!

It doesn't matter if Russia will have their own coins or ICO as long as it will not affect bitcoin it would be just like any other ICO unless they will consider this as their official digital curreny because with that the demand of bitcoin might be affected and also the pricing. This country is like  China which is good in copying things from other countries

Does not make sense. I do not know how you come into that conclusion, I would say it would be like in fiat system where money is backed by gold reserved (thinking Bitcoin is a digital gold) then probably bitcoin will be used to back up those cryptocurrency  ;D .

It's joke, I think he has sufficient money and no need going to run ICO.

Russia isn't the only government planning on issuing a fiat tied cryptocurrency. These fiat cryptos will be price fixed and will not be launched via ICOs. They'll be the equivalent of central mint issued currencies, tied to the nation state banks.

Salut tous
Moi je veux savoir qu'est que c'est que

ICO

Russia always controls the cash flows of people. ICO will also be held under the control of the authorities

I've heard the cryptoruble will be back by gold.
Maybe we'll see a lot of commodity backed cryptos in the near future.

Salut gbenou, ICO veux l'offre initiale de pièces/tokens. Tu peux trouver un guide de toute la terminologie crypto ici, sur le Lexique Francais: https://bitcointalk.org/index.php?topic=2302417.0

Totally agree! This is a trend in a way for many countries are thinking of taking this step. But you are right that cryptocurrency is something that will help us get away from the control of the governments and financial institutions as we know them.

Makes all the sense for governments to go cryptocurrency. Governments in general do not want cash going around.
Japan was first to mention that digital currency allows to understand money movement on unprecedented level.
I hope Putin buys out waves and pushes it through the roof:)

There was this kind of speculation before the recent BRICS summit. Governments will try to make their own cryptocurrency to counter their people's interest in other cryptocurrency as they know bitcoin or other altcoins can't be defeated in the modern era of technology and internet, so they will be looking for their own altcoins to be the one being used mostly. These governments seem to grasp everything from sky to bottom of the ocean to virtual world.

I would like to see what characteristics this cryptor will have and how it will go inside Russia, since it is unlikely to be of interest to the world community. We, I believe, need a different practice with national centralized digital coins. This way we will be able to better understand and evaluate the advantages of decentralized crypto currency. So let Putin experiment. And we'll see what happens from this.

   Cryptoruble is just a rumor. Yea, Russian Central Bank representative said: "We plan to create cryptorubble", but it looks like a joke. How a currency may be cryptic if Central Bank operates it? They are making different injections to the information field for purposes they only know, maybe they want to pull some bitcoin users to their new "cryptic" rubble, make some chaos in citizens minds. So I beleive such authorities want to operate money transfers instead of making anything out their control

Regardless of whether the news is true or false, what we need to understand is that since such news often appears, it shows that more and more people or organizations are paying attention to and developing the technology of blockchain. It also proves that the district Blockchain technology in the future Internet security will have an important place

Another state-sponsored digital currency with the same properties of Fiat. Russian deputy finance minister has suggested to change cryptoruble to cyber-ruble because cyber-ruble has fewer negative connotations and anarchist-freedom-loving meaning than cryptoruble and that's what it would be, to compete against ruble and replace cash with cryptoruble to streamline the payment of taxes.


The state-sponsored cryptocurrencies system is just getting started, China or India would be the next country to launch their own cryptocurrency. The adoption of these centralized cryptocurrencies specially in a cash-based economy would depend on how they are going to be different than the existing electronic payment systems.