Russian's own Bitcoin - What will be the impact to the original Bitcoin?

[hello_good_sir]

Russian is planning to have its own version of Bitcoin backed by the Sberbank.   

"Sberbank CEO Herman Gref has “agreed” on the development of a Russian national cryptocurrency with the country’s central bank.  Sberbank is Russia’s major state-controlled bank. In unofficial reports from local news aggregators, the so-called “Russian Bitcoin” will use Sberbank as its base and will be “the only cryptocurrency freely available for sale and purchase” in the country. “All other [cryptocurrencies] will only be available via exchanges or trading platforms,” the Telegram news channel DeCenter reports Friday."
https://cointelegraph.com/news/russian-bitcoin-will-be-countrys-only-freely-tradable-crypto-sberbank-ceo

What type of impact(s) will this have on the original Bitcoin?  Would the Russian Bitcoin survive?  Would the original Bitcoin be treated as a lower "second tier" crytocurrency in Russia or even in the world?  Would the original Bitcoin value goes down? 

What is your thought on this?

It's funny that they're finally turning to blockchain technology because if i remember correctly banks in Russia aren't really functional at all. Most people use a payment processor(either webmoney or yandex money, maybe others as well) instead of having a bank account.

What impact does this have on bitcoin? Nothing in my opinion because IT'S NOT EVEN DECENTRALIZED. They're using it as just a way to conveniently keep a ledger of everything so that hacks can't occur and someone changing the entries. The banks still have control over everything. It's not like bitcoin at all.

If you followed the news recently you would have also realised that russia is planning on trackng everything on the bitcoin network - it's completely absurd just as this idea of their own crypto is.

[Yuuto]

I think it will have a big impact on bitcoin. Russia as we all know is a very large country so when country with that scale create an altcoin the world will notice and be on watch in the world of cryptocurrencies because the russian government has its own way of resolving things. I think people will buy their coin if it the history repeats itself, in the end they will just go all to bitcoin resulting to a boost of its usage and a massive price hike.

I actually disagree with this. I really don't think that a country having a cryptocurrency of its own is going to change how bitcoin operates or even affect bitcoin's price in my opinion. Russia having its own cryptocurrency is completely unrelated to how bitcoin works. We don't need countries to have cryptos themselves. In fact I would argue that bitcoin should exist without intervention from governments. Russia having its own altcoin means that it wants to compete with bitcoin - something that isn't so good as it sounds.

[stompix]

I think it will have a big impact on bitcoin. Russia as we all know is a very large country so when country with that scale create an altcoin the world will notice and be on watch in the world of cryptocurrencies because the russian government has its own way of resolving things. I think people will buy their coin if it the history repeats itself, in the end they will just go all to bitcoin resulting to a boost of its usage and a massive price hike.

Yeah Russia is a big country.... and..?
Mongolia is bigger than Germany and it still doesn't count.
Th economy of Russia is the size of Netherlands and with 25 million people living with 100$ a month it's just funny to say it will have a big impact. It will have none.

The amount of money Russians put in bitcoin can be really easily offset by 1/10 of the people living in CA alone.

The real danger is if others try to replicate this.

[Despacito]

This effort does not mean anything. Bitcoin cannot belong to any county or government, or a successfull copy of bitcoin cannot be created by a country or government. They should see this point. It's decentralized.

[BADecker]

Russia will only do a Bitcoin of their own if it is NOT a free market Bitcoin. In other words, they will want to dominate and control it. When the people find out this about it, they will not use it, but go back to the real Bitcoin.

[squatz1]

Yet again, it's going to be one of those shitcoins that nothing is going to happen with. Maybe it'll see a surge in the price due to some news companies covering it from the whales that are inciting this all to happen, but nothing is actually going to happen to it when it comes to the coin being used and accepted in places. It's going to be left with the other million coins that are made for the devs and early early people to make a quick buck and that'll be all.

So, no impact bud -- but nice way of sharing it to get attention for the people that are bound to make a lot of money from it.

[kaijialex]

I don't think it will have any impact on Bitcoin. The power of Bitcoin comes from the fact that no single entity controls it, so I don't see what's the point of issuing a cryptocurrency that's controller by a bank, it will be just any other altcoin, even worse it's a centralized altcoin.

[Tyrantt]

sooo it's just another Russian government made alt-coin with some dodgy gimmick implemented in it's code (we all know that russian government tends tends to be sneaky sometimes)?

It'll probably going to have as much as impact as any other alt-coin or a little stronger alt-coin. Nothing special.

[SimmonenY]

no, I don't think another worthless putincoin can impact the original Bitcoin.

[InsiderOfCrypto]

Government controlled coin    only children of the big government officials are gonna be allowed to mine it

[stompix]

Yet again, it's going to be one of those shitcoins that nothing is going to happen with. Maybe it'll see a surge in the price due to some news companies covering it from the whales that are inciting this all to happen, but nothing is actually going to happen to it when it comes to the coin being used and accepted in places. It's going to be left with the other million coins that are made for the devs and early early people to make a quick buck and that'll be all.

So, no impact bud -- but nice way of sharing it to get attention for the people that are bound to make a lot of money from it.

There will be nothing to invest in it. There will be no price fluctuation.
The coin will be pegged to the rubble forever.

And if the government decided everybody will be forced to accept it because of it's status as national currency.

Stop comparing it to auroracoin or other shitcoins and private projects.
This will be nothing like altcoins more like wmz and wmr.

[Ucy]

Honestly I see this as a waste of time unless the Altcoin will be allowed to run like normal cryptocurrency on the Blockchain. Meaning no interference, no market Manipulation, no Centralization and no " Russia Regulation".

[Taki]

I am from Russia and I haven't hear anything like that yet. I would like to hear the news from the original source if it's possible. For me this all sounds as a try to make bitcoin controlled and housebound for Russian financial system. And all that made to people, to whom bitcoin became the source of financial income, pay taxes from their profit to the government by my opinion.