Bitcoin Forum

Russia’s Putin government decided to issue a state-owned cryptoruble, causing a wave of controversy. The Deputy Minister of Finance also considered the term to be hinging to political factors and anarchism and therefore proposed to change its name to “cyber-ruble.” The Russian Minister of Communications and Mass Media, who proposed the initiative of cryptoruble, also believed that cryptoruble requires not only government support but also regulatory adjustment. Qiwi’s chief executive, on the other hand, thinks it makes sense to have cryptocurrency as an alternative to cash...Check more fromhttp://news.8btc.com/putins-adviser-saw-a-falling-price-of-bitcoin

Russia still decided to release its cryptor or cyber-ruble. And this is despite the decision of the Economic Council under the government of the Russian Federation that it is impossible to create a centralized crypto currency in a separate country? While it comes to the practical issue of such a national crypto currency, in Russia they will change their opinion several times again as they have done it more than once.

If his advisers saw Bitcoin falling then what is the sense of creating their own cryptocurrency? It is like battling against a tide in which they won't win, if Bitcoin's price is affected then other cryptocurrencies will also be affected by the decrease. If this is their way on having a regulated version of Bitcoin I hope that it will succeed, this kinds of projects especially a powerful nation might have a bad effect on their own country both economically and their national security. They need to have some kind of more powerful control on their government system.

they are not a government that fulfills what it promises, has constantly appeared in the press to say one thing and days later change what they said, this has already become common and I do not understand why these news channels care about russia

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These are all efforts they are making because they do not want their citizens to use bitcoin and be more independent



in a few weeks we will hear that it already has another name, they constantly change their position

Lol. Who cares how this currency will be called? It is enough that she will associate with Russia. I will never trust their savings to Russian projects. It will end up a Scam. In Russia, nothing is done without control of the security services. Maybe this will be the next project of the Kremlin to using cryptocurrency to gain access to all computers in the world. Even if it isn't the Russian economy is too weak to ensure the stability of the currency.

These whole controversial statements indicate the unclear stand of Russia towards Bitcoin and cryptocurrency. There one move can have a long lasting impact upon the citizens and global users of Bitcoin. Recently, Russia was determined to impose a ban on cryptocurrency and now issuing state-owned cryptoruble depict the dilemma of Russian governments. One needs to wait few days more until any clear statement is issued.

If ever this is verified, I think it was created to cast doubt on people who swore by Bitcoin's price increase. Nevertheless, I just want to put emphasize on the fact the these type of heavily opinionated news are more often than not intended to disrupt the values of men of common intelligence. They are meant to break these people so the latter will back off from their belief and settle with whatever they have.

If you know how to play the game, you will not be easily weakened by these type of news.

Well, bitcoin is overbought and over-extended. One of these days, the buyers will be exhausted from all that market buying.

In Russia, little is done for the people. If they release their national centralized crypto currency, then nothing good will come of it. It will be under vigilant control of law enforcement bodies, without any anonymity and will go practically only inside Russia, because at the international level it will simply be ignored.

What is the use of having a fiat and a crypto currency at the same time for a country. If ever the "cyber-ruble" is released it will just be used within Russia and most likely not around the world, are they open on replacing their fiat with it in the future? How are they going to trade to other countries then? And besides that is a centralized crypto currency.

Don't forget that ETH's creator is Russian citizen and he had conversation with Putin already. I think everything is going to creation of national crypto, no matter how it is going to be called. BTW they announced already that everything about regulation of crypto in Russia is going to be done by the 1st of February of the next year.

The executive director of Qiwi, is interested in this, because he himself uses crypto currency, this is my value judgment. At the Yobit crypto-currency exchange, you can withdraw the Russian ruble to a Qiwi purse without commissions

Months from now these people will realize that they had became the first jokers in the world of cryptocurrency. They think that the rise of Bitcoin happened overnight and that they can duplicate the popularity of Bitcoin by issuing their own state-sponsored cryptocurrency. The government (any government for this matter) has no capability to be a successful issuer of cryptocurrency as it is very bureaucratic and very centralized. What they are issuing is just the digital version of their national money nothing more nothing less. Let history judge these people and maybe this is actually a good development in the end because with this the whole world will realize that it is a big foolishness to do the same thing. Russia will be known as the model of what should not have been done and Putin will later on disconnect himself with this failed project.

I still cannot understand the logic/architecture behind a state owned cryptocurrency. Isn't the idea behind cryptocurrency that it is decentralized, not owned by a person/company/country, and anonymous? How are you going to achieve a functioning blockchain if you meet none of the criteria?

Russian officials have not yet decided how to deal with the crypto currency. They agree that blockchain technology is a promising one, but they say that bitcoin is never officially recognized. And at the same time they want to put their own cryptorubel in circulation. Chaos is in the minds.

If there is no upper limit of the digital ruble, then it is as junk as the current ruble.

There is no clear position. They change their minds. This is complete chaos, I agree. All the news that comes from Russia looks like another shit. We do not support bitcoin, but we invest our personal money in the Crypto currency. Where is the logic? I dont know.