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Question: Why is the Russian Federation so interested in Bitcoin
Russian Mob - 27 (32.1%)
Russian Hacker - 11 (13.1%)
Investing for the future. - 23 (27.4%)
Russian Government - 14 (16.7%)
No particular Reason - 9 (10.7%)
Total Voters: 84

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Author Topic: Why is the Russian Federation so interested in Bitcoin  (Read 5148 times)
bitcoinconnection
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June 06, 2011, 01:15:52 AM
Last edit: June 13, 2011, 03:22:38 AM by bitcoinconnection
 #1

I have noticed on Google Trend The Russian Federation has a very large number of searches. Could elements of the Russian Mob be ready to invest in Bitcoin? It could be a great way to launder money from country to country untraceable. Or Russian hackers are notorious for cracking system to make money.This is the Google Trend link http://www.google.com/trends?q=bitcoin&ctab=0&geo=all&date=all&sort=0
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June 06, 2011, 01:21:58 AM
 #2

It could be a great way to launder money from country to country untraceable.

This
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June 06, 2011, 01:22:12 AM
 #3

Places with high oppression seem to have high interest (Russia, China).  Bitcoin allows them to do things out from under big brother's eye.

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June 06, 2011, 01:29:10 AM
 #4

Places with high oppression seem to have high interest (Russia, China).  Bitcoin allows them to do things out from under big brother's eye.

Yes, it probably has more to do with ordinary people being desperate to escape oppressive governments than anything else
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June 06, 2011, 02:11:22 AM
 #5

I'd say it's because there are plenty of people from Russia living in the USA who still have strong ties to home and Bitcoin makes it easier for us them to send money back home.  It's also nice to take large sums of bitcoin with you on a USB stick and not have to declare the "cash" when going for a visit between USA/Russia.

...and maybe Russian Mafia likes it Smiley

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June 06, 2011, 02:20:35 AM
 #6

Russians are extremely interested:
1) Ease way to move money. Even high corruption level did not help with avoiding high taxes and fees in that field anymore. At list for regular citizens.
2) Way to save money. Instability of Ruble is known, and regular citizen have no even a bit of trust in government regulation of it. 1998 year was harsh, and will not be forgotten for next 30-50 years (next 1 or 2 generations).
  2a) Russian citizens cant trust the dollar, for their savings - that paranoia is in our genome. Looks like it good practise (my own paranoia  Huh).
  2b) We see, that for unknown reason Russian government trust dollar to much, and that makes us more suspicious to our government and                   dollar both. ( Russian mentality always counts government like somebody who wants to cheat you. And, of course, you should answer with cheating  government when possible, but this is another story).
  2c) We cant trust in euro, because it is wired to tight with IMF (and they wired to $).
  2d) We cant trust in oil prices, because oil prices are instable.
  2e) We hardly can use gold, diamonds and precious metals, - they are overtaxed (Prisons here are not so comfortable).
3) Opportunity for FREE (relatively) money. Price of electricity  is steel low, relatively to European country's.
4) We just like to try something new (well, you should not be surprised - 1917, 1991 as fresh examples).
5) We are ambitious and lazy together. I am doubt that you will find any Russian immigrant  working in some dumb  house cleaning business more than 5 years after arriving in new country.

Well, there is always something else. Maybe i am mistaken somewhere. Feel free to discuss.

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June 06, 2011, 03:06:49 AM
 #7

Russians are extremely interested:
1) Ease way to move money. Even high corruption level did not help with avoiding high taxes and fees in that field anymore. At list for regular citizens.
2) Way to save money. Instability of Ruble is known, and regular citizen have no even a bit of trust in government regulation of it. 1998 year was harsh, and will not be forgotten for next 30-50 years (next 1 or 2 generations).
  2a) Russian citizens cant trust the dollar, for their savings - that paranoia is in our genome. Looks like it good practise (my own paranoia  Huh).
  2b) We see, that for unknown reason Russian government trust dollar to much, and that makes us more suspicious to our government and                   dollar both. ( Russian mentality always counts government like somebody who wants to cheat you. And, of course, you should answer with cheating  government when possible, but this is another story).
  2c) We cant trust in euro, because it is wired to tight with IMF (and they wired to $).
  2d) We cant trust in oil prices, because oil prices are instable.
  2e) We hardly can use gold, diamonds and precious metals, - they are overtaxed (Prisons here are not so comfortable).
3) Opportunity for FREE (relatively) money. Price of electricity  is steel low, relatively to European country's.
4) We just like to try something new (well, you should not be surprised - 1917, 1991 as fresh examples).
5) We are ambitious and lazy together. I am doubt that you will find any Russian immigrant  working in some dumb  house cleaning business more than 5 years after arriving in new country.

Well, there is always something else. Maybe i am mistaken somewhere. Feel free to discuss.

I'd say these points are right on!  Yes, after 1992 it was USD under the pillow, then Euro, now a USB stick full of bitcoins, encrypted with truecrypt....Russian ppl sleeping much better at night now thanks to bitcoin!  Grin

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June 06, 2011, 03:51:30 AM
 #8

because the national sports of russia are politics, and chess.
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June 06, 2011, 03:51:53 AM
 #9

because the national sports of russia are politics, and chess.

You forgot drinking. Cheesy

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June 06, 2011, 03:54:15 AM
 #10

i know of some people in Belarus that are very interested after their recent inflation woes
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June 09, 2011, 04:43:20 PM
 #11

I do love your logic.
So lets take the US population, divide by the number of people who "would most likely discover bitcoin" and you have a ratio far higher than russian google trends. You did however prove that russia can both use google and search for bitcoin at a specific rate. That is all.

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June 09, 2011, 05:32:43 PM
 #12

The Russians experienced hyperinflation during the last days of the soviet union. They know what it feels like to have your life savings stolen by the elites through inflation, so they don't have the irrational fear of deflation that Bernanke's worshipers have.

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June 09, 2011, 08:15:01 PM
 #13

"In Soviet Russia, bitcoin mines you!"
 Roll Eyes
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June 10, 2011, 03:02:44 AM
 #14

Russians are extremely interested:
1) Ease way to move money. Even high corruption level did not help with avoiding high taxes and fees in that field anymore. At list for regular citizens.
2) Way to save money. Instability of Ruble is known, and regular citizen have no even a bit of trust in government regulation of it. 1998 year was harsh, and will not be forgotten for next 30-50 years (next 1 or 2 generations).
  2a) Russian citizens cant trust the dollar, for their savings - that paranoia is in our genome. Looks like it good practise (my own paranoia  Huh).
  2b) We see, that for unknown reason Russian government trust dollar to much, and that makes us more suspicious to our government and                   dollar both. ( Russian mentality always counts government like somebody who wants to cheat you. And, of course, you should answer with cheating  government when possible, but this is another story).
  2c) We cant trust in euro, because it is wired to tight with IMF (and they wired to $).
  2d) We cant trust in oil prices, because oil prices are instable.
  2e) We hardly can use gold, diamonds and precious metals, - they are overtaxed (Prisons here are not so comfortable).
3) Opportunity for FREE (relatively) money. Price of electricity  is steel low, relatively to European country's.
4) We just like to try something new (well, you should not be surprised - 1917, 1991 as fresh examples).
5) We are ambitious and lazy together. I am doubt that you will find any Russian immigrant  working in some dumb  house cleaning business more than 5 years after arriving in new country.

Well, there is always something else. Maybe i am mistaken somewhere. Feel free to discuss.

Thumbs up, Russians Wink

|              ______
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June 10, 2011, 03:19:12 AM
 #15

Russians are extremely interested:
1) Ease way to move money. Even high corruption level did not help with avoiding high taxes and fees in that field anymore. At list for regular citizens.
2) Way to save money. Instability of Ruble is known, and regular citizen have no even a bit of trust in government regulation of it. 1998 year was harsh, and will not be forgotten for next 30-50 years (next 1 or 2 generations).
 2a) Russian citizens cant trust the dollar, for their savings - that paranoia is in our genome. Looks like it good practise (my own paranoia  Huh).
  2b) We see, that for unknown reason Russian government trust dollar to much, and that makes us more suspicious to our government and                   dollar both. ( Russian mentality always counts government like somebody who wants to cheat you. And, of course, you should answer with cheating  government when possible, but this is another story).
  2c) We cant trust in euro, because it is wired to tight with IMF (and they wired to $).
  2d) We cant trust in oil prices, because oil prices are instable.
  2e) We hardly can use gold, diamonds and precious metals, - they are overtaxed (Prisons here are not so comfortable).
3) Opportunity for FREE (relatively) money. Price of electricity  is steel low, relatively to European country's.
4) We just like to try something new (well, you should not be surprised - 1917, 1991 as fresh examples).
5) We are ambitious and lazy together. I am doubt that you will find any Russian immigrant  working in some dumb  house cleaning business more than 5 years after arriving in new country.

Well, there is always something else. Maybe i am mistaken somewhere. Feel free to discuss.

Dollar is strong in Russia, been that way a few decades, at least. I cannot see how.. if I offer a payment for some thing in dollars or rubles to any Russian, you will prefer rubles over dollar? seriously? ))  Shocked
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June 10, 2011, 03:40:13 AM
 #16

Hopefully they'll dump their USD reserves into bitcoins.
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June 10, 2011, 03:41:47 AM
 #17

I'd rather have a dollar than a ruble, though I'd rather have a bottle of vodka - or a bitcoin - than a dollar.

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June 10, 2011, 05:52:24 AM
 #18

...
Dollar is strong in Russia, been that way a few decades, at least.

Dollar is global reserve currency... for now. Some in east bloc just early adopters it seems. Wink

Every nation except USA would love new reserve currency, but changing one fiat fad for another is not winning strategy. But non-fiat, non-physical reserve? That could be interesting!
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June 10, 2011, 06:03:24 AM
 #19

Bottle of vodka is not some "fiat currency"   Undecided i promise you that. But it have to many disadvantages, it is fragile, heavy, not compact ...

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June 10, 2011, 08:26:24 AM
 #20

Probably mostly the free money.

In moscow its not that bad but in the rest of the country $600 per month wages (although this is AFTER the taxes) are considered good, so with bitcoin mining one can easily double the income, with current prices at least.. Even if it fell a few times lower, still it's worth doing for such people.

As of the trust in BC as a currency, I highly doubt anyone does that. I have seen a few people who play buy/sell game at the exchanges but someone who actually saves all their free money in BC? no, I have not encountered such a wonder in any russian forum yet Smiley

Also, USD is currently falling in rubles so I doubt someone still saves in them  ... I heard some are starting to save in Chinese currency Smiley
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