[2014-02-04] BTC-e Downplays Concerns of New Russian Criminal Investigation

[oakpacific]

Am I the only one who thinks the Russian gov is possibly serious about what they said? Sochi Olympics is upcoming and they may be genuinely worried that Bitcoin will be used to finance terrorist organizations planning to create some havocs.

Most of the terrorist activities in Russia are funded by the Saudi Arabian Royal Family. They don't need Bitcoins to do that. There are better options available.

Well, all I said is they maybe genuinely concerned, but they may also be utterly misinformed and are freaking out, like all your good old paranoid autocratic folks.

[Arvicco]

Heard about it too, not even once. But maybe Russia came up with Saudi Arabians like USA came up with Usama. Who knows.
Anywho, I think problem is solved for now, no news about this for quite some time.

Unfortunately, it is not solved at all. Today, Russian Attorney General office confirmed that they consider Bitcoin illegal in Russia, both for businesses and personal use: http://genproc.gov.ru/smi/news/genproc/news-86432/

The ugly and confusing story of Russian officials response to cryptocurrencies just got quite a bit uglier.

[whyinvestinbitcoin]

Here's what will happen to Russia and other countries that try to ban bitcoin:

The world will gradually but surely begin to accept bitcoin for it's many good qualities and iron out the limits such as identity, transaction volume, chargeback and speed of transactions....

As the world adopts bitcoin and central currencies are gradually faded out as a consequence, international trade will to a increasing degree decide not to trade with the Russian Rouble. It will become one of the last crap fiat currencies standing.

'Hey You. Ameriiicaaann. You take my lovely rouubles for your lovely apple iPhone 12S'.

'Sure Dude! That will be 50,000,000,000R.'

Big mistake Russia. Protectionism never works in the long term. One day you'll be making a mad dash to 'accept bitcoin' in your country and everyone else will have moved on. I see another Russian Collapse coming.... Say 2016/2017.

[Wanesst]

 They will never be able to deal with a handful of cryptonerds and their "virtual money"