Russian Ministry wants to legalize Bitcoin mining in specific areas

[Wind_FURY]

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That doesn’t address the debate again.
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I love that rather you sneakily avoided commenting exactly the most important thing.
A real case event where a country under sanctions, despite managing to secure a shipment and paying for it hasn't been able to have that shifted to them.
So again, I'm asking you, how is bitcoin or any other type of parallel payment going to bypass a situation like the one I've pointed out before?

But that wasn’t the point. The point was being sanctioned from using SWIFT, and using Bitcoin as a protocol, and as a settlement layer.

If the payment was made in Bitcoin, and the delivery of the item was blocked, you believe that Bitcoin didn’t work?

What if Russia was sanctioned, and used Bitcoin as the settlement layer for trading military weapons with China and all the items arrived?

This is exactly the debate here, bitcoin helps in bypassing sanctions, look, we have merchandise that was ordered paid and stopped from being delivered, and the country that ordered it got nothing and lost the money also, how will bitcoin act differently? How will bitcoin make a difference?
What is so hard to understand is that if the police come to my parent's business and tell us if we export one single truck of meat to Russia we're going to get arrested we won't give a damn about what you pay us? You can ask the tooth fairy to sneak in during the night and put gold bars under our pillow to make it totally undetectable, but we can't make a truck invisible while crossing the border, get some alien to drive it, and at the same time cook the books as nothing happened, not without our own workers realizing something really fishy is going on.

Bitcoin or monero or any other coin or any other means of payment were not built for this, it was never their purpose, they exist in the digital world, goods need to be transported in the real one. I understand your enthusiasm but you need to a reality check.

That’s a straw man ser.

[maria1110]

Russian is so well known for its mining industry. As far as I know, mining is not banned in Russia, since people are still engaging in mining activities.
Anyway, put it on the legal lever may be beneficial for those big miners, expecially those close to the government.

[Ozero]

I don't think this is a good idea since miners already have a lot on their plate and additional taxes would push their profits even lower which would force them to stop mining altogether in both the short-term and the long-term.

Russia is being fickle by banning crypto mining to trying to regulate them which is very similar to what some other countries(India, China etc) have done in recent times.

I feel that this is some sort of clever strategy being used by world governments for financial reasons.

I am primarily interested in why Russia is going to allow bitcoin mining only in certain regions? Is it due to people or lack of energy in certain regions?
In any case, there is nothing surprising in establishing taxes on profits for cryptocurrency mining, and this is quite logical and natural. In addition, the consequences of the latest tough international sanctions will soon appear in Russia in connection with Russia's recognition of two independent republics on the territory of the occupied regions of Ukraine and the official introduction of its troops there. This is open aggression and therefore the civilized world will no longer reckon with its economic losses from the imposition of its own sanctions. But it could be a disaster for Russia.

[stompix]

But that wasn’t the point. The point was being sanctioned from using SWIFT, and using Bitcoin as a protocol, and as a settlement layer.
If the payment was made in Bitcoin, and the delivery of the item was blocked, you believe that Bitcoin didn’t work?

That's why I told you you don't have a clue what SWIFT is.
Russia did trade with Europe during the USSR and Warsaw Pact, they weren't in SWIFT, no Russian banks were, no Warsaw pact banks were in it yet trade still was done, by simply guess what, sending payments. But while payments were happening, USSR or the West could decide those items are not really for sale and stop the trucks at the border afraid of smuggling or spying, and did this means that the bank transfer failed? Not at all.
You can send payments with any method you want as long as the deal can't be reached it means you have failed!

Again, kicking Russia out of SWIFT doesn't mean you can't send a payment to a Russian bank!
Imposing a full-out ban on commerce with it means that no fucking payment solution will get you that stuff sold and bought.

So again, you're looking at bitcoin as a solution for the wrong non-existent problem.
Second, you're bringing unnecessary political problems to the network, Foundry is hovering between 15-20% of the hashrate, the so-called BMC members have about 60EXahash on orders, guess what will happen if Russia would turn Bitcoin into its tool for avoiding US sanctions?

That’s a straw man ser.

That's reality. How many contracts of Extra-Union trade have you signed and overseen?

[Wind_FURY]

But that wasn’t the point. The point was being sanctioned from using SWIFT, and using Bitcoin as a protocol, and as a settlement layer.
If the payment was made in Bitcoin, and the delivery of the item was blocked, you believe that Bitcoin didn’t work?

That's why I told you you don't have a clue what SWIFT is.

Ad hominem and literally laughable.

Russia did trade with Europe during the USSR and Warsaw Pact, they weren't in SWIFT, no Russian banks were, no Warsaw pact banks were in it yet trade still was done, by simply guess what, sending payments. But while payments were happening, USSR or the West could decide those items are not really for sale and stop the trucks at the border afraid of smuggling or spying, and did this means that the bank transfer failed? Not at all.
You can send payments with any method you want as long as the deal can't be reached it means you have failed!

Again, kicking Russia out of SWIFT doesn't mean you can't send a payment to a Russian bank!
Imposing a full-out ban on commerce with it means that no fucking payment solution will get you that stuff sold and bought.

So again, you're looking at bitcoin as a solution for the wrong non-existent problem.
Second, you're bringing unnecessary political problems to the network, Foundry is hovering between 15-20% of the hashrate, the so-called BMC members have about 60EXahash on orders, guess what will happen if Russia would turn Bitcoin into its tool for avoiding US sanctions?

You’re still using a straw man ser, none of your post disproves that Bitcoin as a protocol can’t be implemented and used as an alternative for international transfers for value. It can solve the friction caused from being banned from SWIFT, and it’s a trustless, censorship-resistant system for settlement.

That’s a straw man ser.

That's reality. How many contracts of Extra-Union trade have you signed and overseen?

Does that disprove that that’s a straw man?

[zasad@]

Russian is so well known for its mining industry. As far as I know, mining is not banned in Russia, since people are still engaging in mining activities.
Anyway, put it on the legal lever may be beneficial for those big miners, expecially those close to the government.

If you are close to the leadership of the region, then you will be mining in protected areas where checks will never come.
Look at the situation in Kazakhstan. First, mining was legalized there, and then taxes were increased by almost 10 times. My opinion is that the current situation suits everyone and there are many other problems, so the government is in no hurry to pass the law.

[stompix]

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Oh just grow up and stop babbling straw man, straw man like you're Straw Hat Luffy.
Again, if you have a clue about something you would prove it to me, not just crying like a little girl you're getting attacked on a forum.

I told you clearly and showed you cases
- were sanctioned country couldn't get goods even if they managed to pay for
- where countries used to trade even without SWIFT
I asked you why since we had bitcoin for years no country is using it on a large scale to avoid sanctions?
Why would they use bitcoin when they could use their own centralized coin, have thousands of nodes spread in every institution for security and that's it, why bother with something that is fluctuating on the markets when they just need a thing that basically just sends messages?

But no, you're spouting the same visionary unicorn on-sense, and every time you feel pressured by your obvious lack of knowledge and you can't make a decent answer you cry you're being abused. If you can't handle a discussion on argument then simply go to sleep and plan your futurist economy alone in your dreams.

[kawetsriyanto]

As long as the news will not change again because of the current conflicts, or because of something else. We know how this country commonly makes any statement about crypto world related. there are commonly some surprises after several times later.
But, if this rule is exactly implemented, at least, it gives better conditions for the miners. Moreover if the regulation really states about the legalization of crypto in the country, it may give a big impact on the crypto world.
But, I personally will not expect much, moroever they are in conflict right now.

Or how is this done in countries like US, is Bitcoin mining taxed?

Maybe 
There must be a way to government to get any taxes 

[tbct_mt2]

Russia is a big nation but Bitcoin has a decentralized network so legalization in Russia or not, it won't change Bitcoin network entirely, at least in terms of decentralization.

China ban, crack down Bitcoin. How many times do we get such news or actions from China? How about Bitcoin after all? It is still be here and its network has become bigger, healthier, more secured over time.

Let's Putin and Russia government do what they want but they can not do anything to stop Bitcoin network. That nation can not live and operate by shutdown their gates with other nations. They just like China, North Korea, Cuba and see how many nations on Earth are still following Communism.

[aruldaroy]

As long as the news will not change again because of the current conflicts, or because of something else. We know how this country commonly makes any statement about crypto world related. there are commonly some surprises after several times later.
But, if this rule is exactly implemented, at least, it gives better conditions for the miners. Moreover if the regulation really states about the legalization of crypto in the country, it may give a big impact on the crypto world.
But, I personally will not expect much, moroever they are in conflict right now.

Or how is this done in countries like US, is Bitcoin mining taxed?

Maybe 
There must be a way to government to get any taxes 

I don't think they can charge taxes in the US because the US government itself has never legalized bitcoin for legal currency or legal payments.
Even the government may not know if someone is mining bitcoin in their country unless there is news that there is bitcoin mining in the US in an open way, the government will take action but not for taxes maybe.

[Wind_FURY]

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Oh just grow up and stop babbling straw man, straw man like you're Straw Hat Luffy.
Again, if you have a clue about something you would prove it to me, not just crying like a little girl you're getting attacked on a forum.

I told you clearly and showed you cases
- were sanctioned country couldn't get goods even if they managed to pay for
- where countries used to trade even without SWIFT
I asked you why since we had bitcoin for years no country is using it on a large scale to avoid sanctions?
Why would they use bitcoin when they could use their own centralized coin, have thousands of nodes spread in every institution for security and that's it, why bother with something that is fluctuating on the markets when they just need a thing that basically just sends messages?

What cases? None of your “cases” disprove the fact that Bitcoin is censorship-resistant, and that it can be used as an alternative to legacy banking systems to go around sanctions for sending value and as a settlement layer.

But no, you're spouting the same visionary unicorn on-sense, and every time you feel pressured by your obvious lack of knowledge and you can't make a decent answer you cry you're being abused. If you can't handle a discussion on argument then simply go to sleep and plan your futurist economy alone in your dreams.

“Visionary unicorn”? The protocol is there in front of you. How longer must the network run for people to understand and accept it? But it’s understandable, everyone didn’t understand air travel when the Wright Brothers invented the first motor-operated airplane.

[Tellek Garing]

Russian is so well known for its mining industry. As far as I know, mining is not banned in Russia, since people are still engaging in mining activities.
Anyway, put it on the legal lever may be beneficial for those big miners, expecially those close to the government.

Well Rusian contribute about 11.2% to Bitcoin's hash rate and mining in Russia have not been affected entirely but about 2 mining company have close down operation so far and have stated that the shutdown is connected to Russian Ukraine invasion. This situation may change as things progress bit to which direction I can't tell let keep observing to see how the whole situation unfold.
Rusian Bitcoin miner present condition

[stompix]

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Oh just grow

Posts meme

If that is the level you usually discuss things on this forum then I think there is no option for my left that put you on ignore so not to waste my time anymore with silly kids.

What cases? None of your “cases” disprove the fact that Bitcoin is censorship-resistant, and that it can be used as an alternative to legacy banking systems to go around sanctions for sending value and as a settlement layer.

This case kiddo:
https://www.theguardian.com/world/2022/feb/26/france-seizes-suspected-russian-owned-ship-in-channel

Understand it?
Your censorship-resistant payment systems means nothing when the poeple who are censoring you can seize the goods you need in real life.
Until you find a way to convert semiconductors, machinery, medicine into NFTs then send them via the blockchain, and then somehow turn them into real-world parts your whole censorship-resistant protocol is on par with all other miraculous vaporware solutions that won't solve a thing!!!!

[Wind_FURY]

~

Oh just grow

Posts meme

If that is the level you usually discuss things on this forum then I think there is no option for my left that put you on ignore so not to waste my time anymore with silly kids.

What cases? None of your “cases” disprove the fact that Bitcoin is censorship-resistant, and that it can be used as an alternative to legacy banking systems to go around sanctions for sending value and as a settlement layer.

This case kiddo:
https://www.theguardian.com/world/2022/feb/26/france-seizes-suspected-russian-owned-ship-in-channel

Understand it?
Your censorship-resistant payment systems means nothing when the poeple who are censoring you can seize the goods you need in real life.
Until you find a way to convert semiconductors, machinery, medicine into NFTs then send them via the blockchain, and then somehow turn them into real-world parts your whole censorship-resistant protocol is on par with all other miraculous vaporware solutions that won't solve a thing!!!!

Ser, read what you just posted again, and tell me where Bitcoin was censored, as a protocol, as a network, or as a cryptocurrency. Understand it?

[zasad@]

Well, that would be great for Russian people, but I honestly don't understand why they banned mining back then. Man, sometimes I feel sorry for Russian citizens. I mean, they live in a totalitarian state and the president, together with his friend, controls everything! I mean, it's ok to control your country, but not like that. Sometimes they just kill people who disagree with them.

No need to draw conclusions about Russia from the news. Mining is not prohibited, there are no taxes, because there is no mining tax law. Criminal cases and confiscations of asics only where miners steal electricity.
If you want to say that in Russia “everything that is not ordered is prohibited”, then this is another incorrect information.