Bitcoin Forum

Vladimir Putin: Cryptocurrency Poses 'Serious Risks'

let's see who huts the most putin or jp morgan....

https://www.coindesk.com/vladimir-putin-cryptocurrency-poses-serious-risks/

Of course cryptos pose serious risks. They take the power away from centralized entity. That's exactly the reason why Bitcoin was created in the first place.

may he wants to get some cheap Bitcoin?

Why would he? He's Putin... If anything he wants to make sure he doesn't lose power.

Just some more FUD

Maybe it is problematic for him from some reason. I do not know, He is Putin who doing weird and crazy things ::) >:(

Have to thank Putin if he manages to drop bitcoin price atleast temporarily. My bids are waiting..

To be fair. He's just stating that cryptos bring some risks with them. That's not an attack, it's the objective truth. A lot of people have lost access to their private keys, have gotten hacked, fell victim to phishing attacks, fell victim to marketing scams, fell victim to outright scams, or just simply traded like a gambler plays roulette.
Money laundering and tax evasion of global scales could also easily result in massive chaos if it just happens with absolutely no oversight.

But whatever his true intentions are, this is just a sign that we are on the verge of mainstream adoption.

Russia just invested hundreds of millions to compete with chinese on crypto mining. They are not going to ban their own new industry.

Putin and russians love crypto. He is not blind! Im sure he sees that more than half of the icos are made by russians. Why would he want to attack the crypto scene

Like I've said before, he's not attacking cryptos at all. He's just making an objective observation.

it has always been a risk to bet on the criptomonedas but the damage / benefit relationship is more focused on the benefit, taking into account that the altcoin are decentralized currencies and is giving a great impact on the economy having an unprecedented boom could be counter-evident for Russia due to their system of government and present a threat to them, although of course this world has also lent itself to negative things we must take into account that as it is implemented it will be improving

This is so true. Everything not under this madman's control poses a risk for him.

It's not just him. China and J.P. Morgan are doing the same. Surely there are other big players that are trying to damage control from behind the scenes too.

Yes, it did. But just because he's stating some facts about cryptos doesn't mean he's against them.

if they can bring the price lower and buy more, then why not? it is always a threat to the centralized control, which is basically every country.

When you see these certain figures get scared about bitcoin you know bitcoin is doing its thing. What I mean by this is the fact that it scares China, bank CEOs, and heads of countries means oh yeah bitcoin is disrupting the

way of the world as we speak. Because the world revolves around money and the current financial landscape is being changed, the people who currently have the power cant help but be pissed off. I enjoy every article :D

Must be because PUT (putincoin) is not doing so well!

Putin just like another man who want to buy at lower price or its just for making bitcoin did not sky rocket fast. After the announcement the price of bit coin is still not dump much. And also bitcoin from the first its created no one care and it is still fine

More fud from goverment = buy more


If people spread fud thats the right time to buy.

Didn't Putin meet with Vitalik just a few months ago? Sounds like the Russian govt is trying to control crypto now

It's a rather short article, with a rather short quote. They quote him saying that cryptocurrencies also carrie serious risks that's it. We all know that, that's not news to anyone specially on this forum.

I don't think it's comparable to what JP Morgan CEO said in any way, that Bitcoin was a fraud, based on that quote alone I don't think this should be classified as an attack on cryptos, at least not yet.

Jp morgan is a asshole we shouldn't listen to any of his bs i don't know if you are aware but right after he made the announcement btc is risky investment he bought btc worth millions after the price fell because of exchange ban.
For putin he is a president and revenue of the government is earned from tax itself if people start using it they are losing millions. No one really understands btc was created to be decentralised as someone mentioned but soon it will get regulated around the world.

LOL. At least almost every major cryptocurrency has a transparent blockchain.

Money laundering is best made with gold and especially CASH. Cryptos are highly tracable.

Well, it seems putin is planning to buy some coins and as he is too late, try to make people dump the coins like jp morgan ceo did.

LOL you made my day with your joke,but putin already tried in several times to make or ban crypto but they are fail to doing it caused by they are just try to make another fuders into the  crypto space. With the decentralized thing and that will neve be happened.

I hope donald trump won't join them after all. This isn't going good. Japan and South Korea will be lot more suspicious. And of course European Union will wait for USA. Sad days for coins!

Well, they have their own tool called RKN that can ban any site with the help of local providers. So they can ban any crypto exchange for example and I doubt that exchanges will try to circumvent a ban in order to be presented in Russia

Japan is quite big on Bitcoin adoption. They even accept it at one of their country's biggest consumer stores.

Trump is almost like a crypto himself. Volatile and unpredictable.

Hopefully Trump just doesn't understand it enough to even know what to say. I understand why a gov would be resistant, but I suspect Russia is trying to figure out how to maximize profits...

He also called cryptos innovating financial instruments. This is not FUD, this is standard political statement trying to justify the need for regulation.

hahaha Words of communist "serious risks" is like music for my ears :D

Of course it is risk for them, because they can not control that - what do you expect? They are losing they power of control... :D

Putin huylo and populist!

Vladimir Putin a communist? ahahahahahahahahahahahahahaha
you have no idea what are you talking about

Ok. Everything in Russia is democratic.. my mistake. But really i'm far from true if i call like that ex-KGB officer? I don't think so..

Honestly, I'm quite surprised that Putin did actually said it. I thought he'll provide more acceptance to cryptocurrencies compared to China and other countries but I guess he is just a typical politician who feels the threat that crypto provides. I think I read on some article that he retracted his message about crypto but I can't find the article. This will become a thing now as more countries will be aware of the threat that Bitcoin (and other cryptocurrencies) brings. Hopefully, they just follow Japan and publicly introduce BTC to their community. :-\

Russia is supporting crypto. Putin is just stating the obvious. There's tons of scamming going on in crypto and there are a lot of gullible people on this planet who love being scammed. That's just one of the obvious risks which have nothing to do with denouncing crypto as a whole.

I think he doesn't need bitcoins at all )

It's another step towards crypto legislation. I don't think that this news is noticed by the market.

It is just an announcement. Right now they are thinking what to do. And of course crypto is a risk for the government because of using crypto against gov. money.

These are not news though. Everybody and his mother already knew that Russia will try to pass the legislation regulating crypto currencies. That information has already been already baked into the price.

uh oh. now putin is mad? lol.

Well, I think no FUD can take down our cryptoworld. Maybe all the fudders can hit us, but they will never kill us :D

putin actually loves crypto so it is fake news!

Such laws cast Russia back several decades ago. The world changed and changed every year in a geometric progression. What Russia is doing shows that it is not yet ready to enter a new era and, thus, will lag behind such developed countries as the US and Japan.

Russia is very pro-crypto though. They're actually investing heavily in it as far as I know and is certainly not lagging behind.

I don't think geometric progression makes much sense in the context you're shooting for by the way.

It is hard to say that Russia as a country invests in crypto. But there are many crypto enthusiasts, miners in Russia and many Russian teams that conduct ICO.

Attacking it the first sign of fear =))

Wait and enjoy =)

I think there is a huge difference in the way both approached the subject, the JP Morgan chief executive basically said that bitcoin was a fraud if I remember correctly, Putin is just saying that crypto by not being controlled by the state poses a risk to it and that is true, because that is the whole point of bitcoin, a currency that is not printed by a central authority, so if anything Putin is recognizing that bitcoin is a success.

Of course it poses a serious risk, Putin my mate you were doing what all these years? Russia was a big support for cryptocurrencies when countries

Like Us and China were trying to seclude Bitcoin into an isolated and regulated corner, they were like a big brother for crypto, but you need to know

With or without you the revolution will keep growing bigger, you can't centralize a revolution which was built on decentralization. Bitcoin was the

Currency, decentralization of governments is the next mission of Satoshi's movement.

Seems to me like Vladimir Putin wants to have some cheap Bitcoins. Don't get fooled guys.

Hodl strong!

Well I hope this creates panic and a lot of people sell their coins thus bringing it down to a low price. Somewhere around $3,500 would be fine for me so I can stock up and buy again.  But then again, that's just me. ;D

Bound to happen in the coming decades. Hopefully sooner than later and hopefully for the better of humanity.

this time bicoin will fall to 2000 usd or crash

lmao every post i've seen by you you talking bout btc crashing

Paid BCH shill?

I would love that, many others do. It would be the chance to accumulate.

But seems that this is not the case. None of the ban news got serious effect any longer, kind of market maturing.

Unlike JP Morgan's CEO he is not calling BTC as fraud but that it poses risk for fraud and money laundering, which is true. TBH his concerns are understandable, I just hope Russia doesn't take a rash decision and ban BTC trade or something.

Smells like some FUD if you ask me...  Just ignore when applies...  hehe

Yes that's correct most likely some of them did not even read the article just check the headline and assume that Putin is attacking cryptocurrency. Putin concerns are legitimate. As a state most likely they want to avoid money laundering and tax evasion. We know that cyrpto currency are being used by the black market for their own gain.

Most people on this forum seem to just read the headline and then post random stuff based on that alone. Sometimes it feels like I'm in a forum full of bots.

But yes, you are exactly right. A sensible government would want to avoid tax evasion and laundering.
Eventually they will have to protect the stupid and greedy people from themselves too, because they will start complaining about "scams" instead of being careful in a risky environment. It's like jumping down a cliff and then complaining about it... people are really weird.

It was sure that these high-rated people would go nuts about Bitcoins once it starts to rise and it's happening now.
Putin is a Government-guy and Governments are scared of Bitcoins because Bitcoin poses a "tunnel" to let us make our finance anonymous and they are gazing the right time to fill this tunnel. But all I could see there in Russia is, Putin didn't decide to stop cryptocurrencies but ordered the banks as well as their regulators to start regulating Bitcoins as soon as possible. I don't think they plan to ban Bitcoins or ^attack^ crypto market in any way.

Bitcoin is easily traceable and does not make your finances anonymous at all. Especially not for the average person who doesn't understand cryptography.

Putin thinks that bitcoin is still full of loopholes and dangerous for use by people who do not quite understand, Until now he does not forbid the use and remain neutral. Bitcoin is easy to track but we can create multiple accounts and unlisted, that's what they're worried about because the state can not monitor and manage it.

Bitcoin is fairly easy to monitor for government entities and they are actively doing it.

this is what I was always led to believe too, that putin loves crypto.  like others said, probably them spewing this crap "news" out, in hopes to drive the market down, so they can jump in and buy low. 

Yes Bitcoin is very traceable and was used by the black market before because the FBI did not know it before or basically do not care about crypto currency. Right now as far as I know Monero is the coin that are being used in the black market since it is basically invisble , no trace at all.

Scams in crypto currency is getting bigger and bigger since they noticed the potential on  how to earn money with it. This is one of the reason why i'm in favor of regulating ICO's. To filter out the new coins and maybe also regulate some loopholes in Crypto. I know not all is in favor in regulation because we love the freedom and I do to but not every one is educated enough to avoid scams.

Bitcoin is actually poses risks in the eyes of governments and bankers, but we would keep using it and we would keep on investing in it because we trust this system more than the current financial systems and governments regulate systems we have now. Putin attacked on bitcoin has even create great demand for bitcoin as bitcoin is currently above  $5600. We should expect more attack in days to come as they will like to create FUD in other to bring bitcoin's demands to stand still and from there reduce it values.

I’m absolutely convinced with your point of view. I think that Governments are just trying to control Cryptocurrency. But They will never achieve their aim. I always believe in BTC and Ethereum.  8)

I don't understand why people think this is negative thing, there is no one that is new to crypto that won't be first skeptical about it, what he needs is more education but we keep saying is going to make the bankers jobless, but I have a feeling most of the money that enter the space this year are from this people, some of them are seeing the big picture and are warming their heart to it

Best editors ever. Sniping the tittle just to caught attention in the web. Again, FUD will again resurface but people don't believe to this manipulation anymore because bitcoin rises again strong. But I think the news are just warning to be careful because of the risk involving cryptocurrency.

Putin might be afraid of the risk but I don't think he means that he'll ban btc. They might be planning something to somehow to regulate it or something like that.

True, but it can be used in the way that's completely untraceable and it's actually not that hard to do so, especially if you have the opportunity to utilize some of the anonymous methods of converting fiat to crypto and vice versa (such as anonymous ATMs).

You can only convert small amounts via ATMs though. And as soon as you get to larger amounts you're putting yourself in significant (physical) danger.

Any country not willing to adopt a superior new technology is going to lag behind, look at China, their citizens want to adopt bitcoin but the government does not want this, if the government wins they are going to be left behind and other countries are going to reap the benefits and the investments that bitcoin is going to bring, Japan a neighbor country of China has decided to go in the opposite direction and legalize bitcoin and we will see the benefits of that decision in the next decade.

This^

I can't wait to see what impact Blockchains will have on economies.

Yes after attacking (trying to) the integrate and value of Bitcoin, Putin and the Russian government are creating new laws to be able to taxate miners. The mining paradise in Russia has it days counted. A new decreet was released, that miners need to reveal there mining profit earnings, in there annual income. Also new technics of miners detection, in be inforced on, for example, tracing high level of energy consumption. 

Source on your claims?

Putin was very explicit about not introducing unnecessarily harsh regulations for cryptos so as to not stunt technological progress.

At this time being any fud were not tolerated by many investors and holders since bitcoin gold is coming we might btc keeps increasing inlike the bch fork wherein people tends to panic. People might think of it after fork.

So anyone care to tell me how serialized mass produced pieces of art on clothe, paper, or plastic is ever supposed to be worth anything.  Seems strange for the elitist to poopoo crypto, while at the same time betting on traditional currencies that can be readily [and illegally] copied. 

Nobody really takes notice of such dramas now. Jamie and Vladimir can say whatever they like to like investors are going to care. I have seen people showing more trust in bitcoin as well as altcoins than before. I think finally everyone has started to realize that the future of money is digital currencies and now the way to become rich is by doing simple saving in crypto coins.

Its something they cannot control, so that's the point of their bashing crypto. I just hope that in 10 years we Will be completely decentralized and creation of money as we know now for fiat Will cease to exist.

You are correct, but this is because people want contradictory things, they want governments to leave them alone but they also want heavy regulations to business, they want freedom but not too much, so when people invest invest in icos instead of doing their own due diligence they invest in whatever and lose their money and now they are asking to get government protection despite the fact that an environment like the one we have is going to resist regulation.

well russia doesnt matter I dont care

Regulation will not most likely to happen and as you said it would really have the resistance which we can barely see for that thing is not possible.Government and other famous people do keep on attacking bitcoin but yet it can really take it down no matter what and i do believe most people wont really care at all no matter what they say but these things are rather important for day traders.If theres a new then there would be a significant movement on the price.

Yeah, I really wish we would just let people fall face-down into the dirt already so they can start learning and stop being infants in adult bodies.

I cannot wait for that either and I think this is the reason Japan has decided to adopt bitcoin, the government is deeply in debt so they need a new sector of the economy to begin to bring big bucks to the country and I think they are seeing that bitcoin is exactly what they need, a new technology that can be accepted all over the world, if they seize a big section of the market they are going to get a lot of money through investments.

The view from JP Morgan is entirely different,Putin acknowledges that crypto currency are popular and have become a full fledged payment instrument and an investment asset like every other country he is more worried about how to tackle money laundering and other illegal activities and he might be implementing regulations to exchanges and how an ICO is to be run to avoid fraudulent activities.

I really hope that Japan does the right moves with the Blockchain. They could really use it with all their "Karoshi" problems and what not.

Japanese work hours are the number one reason why I decided not to move there, even though I love the country for its natural diversity and food.
Working all day and having very short vacations is completely off-putting for me though.

But at the very least it'll make a great place for holidays if they start accepting cryptos all over the place, so I'm looking forward to that.

Yeah, the work ethic of the Japanese is insane, I love the country and its culture but I prefer my relaxed job than to slave away the rest of my life in an office, however if adoption is really massive then they could see a lot of tourism coming to their lands, I do not have the money to try that now but I think in a few years I could do it so that gives me time to see how things evolve in Japan and if they really adopt bitcoin as an everyday payment method.

Yeah, if it'll ever be possible to move to Japan easily as a foreigner without having to get a job I would probably move there. The country is just way too beautiful and has a lot of variation in scenery that can rarely be found in other places. And the food is just insanely good, probably my favourite place in the world when it comes to dining.

I think it is some kind of tricks.
When bitcoin or other cryptocurrencies price increase massively they come with a negative news to stop the price from increasing.
It might be whale game also.
But it is a opportunity to get everything very cheap.
Remember nobody can stop bitcoin.

Bitcoin and other crypto currencies are real risk to government specially those corrupt government because bitcoin and other alt coin don't have taxes to pay to those hungry government sharks.  ;D Specially in our country where almost all of the government officials are corrupt from the lowest position to the highest position.  :) :)

I totally agree with you.
Government don't like cryptocurrency because they cannot control it.
Few government are trying to regulate it.
But they can not stop people to invest in cryptocurrency.
In our country cryptocurrencies are illegal to buy and sell.
But people are buying and selling silently.
I hope it will be legal one day.

From the perspective of the leaders, I think his speech is really accurate. Bitcoin is just a cryptographic currency operating in the market, it does not have the foundation to secure value, so, it carries huge risks.

These news are no big surprise to me anymore.

Every single day someone is going to come out and say something that is completely anti-bitcoin. And apparently the president of Russia is no exception. However, as a reminder their central bank is apparently exploring the possibility of implementing a crypto rouble, which is quite contradictory to putin's point.

I mean it makes sense that he hates it. It takes direct control from him.

Just more attempts to suppress the price as long as they can, so they can buy it up. Been going on since Bitcoin started. They said the same things about the Internet, Apple, Google, Amazon. Read between the lines and think outside the box.

you should not believe in what politicians say. Sometimes they say to protect their purposes. You just believe yourself, don't trust anyone. That's all! :D

In my opinion and it is happened always in crypto. When there is the big FUD there is a bullish market and when we hear the very good news the coin could be in bearish. Thats why when i saw the news about bitcoin from jp morgan and putin i buy more. That is always happened from 2014 i dont know why.

Did you read and research the news? There's a full interview where you can see that Putin didn't speak out against crypto as a whole and doesn't want to create "unnecessary regulations" that could hinder the development of blockchains.

I was confuse about this I've just read an article about Putin/Russian government supporting bitcoin, Putin even issued presidential order designed to shape Russia's use of digital currencies and tokens. Putin along with Russia's finance minister and central bank leader is establishing guidelines for the nation's future relationship with cryptocurrency and blockchain technology to fit the country's financial framework.
Just sharing what I've read.

State leaders would naturally warn against speculation if it becomes widespread amid a country's population. I would expect such thing from Vladimir Putin as Russia has a long history with ponzi scheme's (see original MMM). It is not bad to warn against the risk, as it is a major factor in all investment.

Exactly. I don't understand why people are trying to create pointless FUD over objectively good statements. The Putin interview is actually a clear indicator that crypto is starting to take off, so people should be happy.

I am now confused with the news coming from Russia. One day it says Putin is ready to sign and showed support for the new Russian cryptocurrency, and then the next day it says Putin is attacking cryptocurrency. But I guess the main stand for this government is still to make its own crypto. Putin is attacking the crypto that we know now because it seems to have no need to respect any government. It is too independent. And Putin wants absolute power.

Putin is not attacking cryptocurrencies... Please read the full interview.

So, how is situation with Senior Putin right now? As i know he accepts cryptocurrency.. even more - he likes idea of Ethereum.. maybe he even invest in ETH :D

The problem is people don't read. They just see headlines, jump into conclusions and then start creating unnecessary FUD and then we have the gullible ones falling for it. Putin was never against crypto and in the news, it was stated clearly that he voiced his support for new rules around its trading by using international examples as a guide to develop such regulations.

What is so hard to understand in that ? And I do not see anything bad in all he has stated recently as every government is now trying to see how the whole thing can be regulated so as not to go against their policies which to me is a sensible thing to do.

Yeah, like moths flying into a lamp even though it will burn them. Just that moths have ridiculously tiny brains. Humans should be seeing their demise coming from a mile away though, so it's quite strange that people keep repeating the same mistakes over and over for centuries.

On another note, there was an article on CNBC that pretty much directly attacked cryptos. So it seems like crypto is being taken very seriously by regulators now.

Who knows if he's invested. But he has been speaking out in favour of cryptocurrencies and only raised concerns that are perfectly rational for a state leader to address.

You should see it as a FUD my brother and I am not surprised since that is what whales are now making use of via media to create unnecessary panic. On the other hand, it did not work anyway and they are looking for other means now which they can keep generating their FUDs.

Putin is not against crypto but his statement balls down on just for people to be careful. I really hope this news site can be filtering their news cause it sucks.

Probably a paid site. Just like most of mainstream media that follows the agenda of its owners.

There should be a better regualtion to secure coins , there are to mouch out there.


 :(

I'd prefer a better way to search through them instead. It's pretty clear which are worthwhile and which are junk just by reading the website usually, and if that's not enough the whitepaper gives the rest of the information needed for cases that are on the edge.

Too much regulation could actually hurt crypto if people pay too much attention to it instead of switching over to decentralized exchanges.