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Author Topic: Local Bitcoins Russia volume surges to record highs  (Read 371 times)
Chronobank
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October 10, 2016, 09:30:17 AM
 #1

Local Bitcoins Russia volume surges to record highs amid supposed "banning". Venezuela, Pakistan, Canada also see record highs - https://coin.dance/volume/localbitcoins

But at the same time Russia blacklisted localbitcoins last month - https://news.bitcoin.com/russian-blacklist-localbitcoins/

Go go crypto anarchy! Smiley

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October 10, 2016, 11:32:29 AM
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Local Bitcoins Russia volume surges to record highs amid supposed "banning". Venezuela, Pakistan, Canada also see record highs - https://coin.dance/volume/localbitcoins

But at the same time Russia blacklisted localbitcoins last month - https://news.bitcoin.com/russian-blacklist-localbitcoins/

Go go crypto anarchy! Smiley

This not surprising me to be honest.It's mostly tech savvy people right now who interested in and using Bitcoin.
For them it is no problem to circumvent that dumb ban of localbitcoins.
In my country localbitcoins is banned as well, but people found ways to still use it.
This is a good sign and should show government and stupid regulators that people are far away from being dumb and that this created movement of free money keeps going.
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October 10, 2016, 12:22:11 PM
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I am not surprised at all. Russian people have tendency to work against establishment. That is why official bans and laws have little to zero effect on Russian population.

If you remember, in the past when Russia banned bitcoin for the first time, trade within Moscow actually rose as a result. It only show how imperceptible Russian ban of Bitcoin is.
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October 10, 2016, 12:25:57 PM
 #4

Local Bitcoins Russia volume surges to record highs amid supposed "banning". Venezuela, Pakistan, Canada also see record highs - https://coin.dance/volume/localbitcoins

But at the same time Russia blacklisted localbitcoins last month - https://news.bitcoin.com/russian-blacklist-localbitcoins/

Go go crypto anarchy! Smiley

This not surprising me to be honest.It's mostly tech savvy people right now who interested in and using Bitcoin.
For them it is no problem to circumvent that dumb ban of localbitcoins.
In my country localbitcoins is banned as well, but people found ways to still use it.
This is a good sign and should show government and stupid regulators that people are far away from being dumb and that this created movement of free money keeps going.

Buying Bitcoin is especially attractive for people in countries with high inflation and a lack of availability of other safe haven assets (such as gold and silver). So a rise in Bitcoin adoption in Russia is hardly surprising. In fact a ban of websites such as localbitcoins might even make acquiring Bitcoin more attractive, when people are already suspicious of government. The people in Russia are well trained to cope with hardships imposed by their government and are very good at circumventing bans. Large parts of the Russian youth are very tech-savvy and routinely use tools to get around bans of certain websites.

It would be a wise decision of the Russian and other governments, to fully legitimize and embrace Bitcoin. It would not only be highly beneficial for the economy (especially in terms of international trade) but would also be a great opportunity to finally get rid of the US-Dollar dominance... but of course that's highly unlikely to happen...

ya.ya.yo!
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October 10, 2016, 01:08:21 PM
 #5

The problem with Russian approach is that they want to control everything - same goes for every currency - bitcoin included.

If bitcoin was centrally controlled then maybe it would be more pleasing for them to accept and fully embrace it.

Russian citizens don't care if bitcoin is banned or not, they have history of living against official laws anyway.

I bet if Russian legalized Bitcoin and put a tax on it - people would still use 'illegal' services to obtain it instead of official exchanges.

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October 10, 2016, 01:45:27 PM
 #6

Russians are well known high volume Bitcoin users and baning localbitcoins or something else will not stop them. They are more or less outside the law all the time, especialy when we talk about russian hackers. In.some volume they are responsible because Bitcoin has bad reputation for being used for illegal activities.

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October 10, 2016, 02:13:06 PM
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The Russian government has a negative attitude to Bitcoins. There's even a draft law is to ban cryptocurrency. So many people are afraid to invest in this area

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October 10, 2016, 02:28:16 PM
 #8

The last time i read some thread here i do believe the Russia had allowed people to buy and use bitcoin, soo now thats were just an history, but they cant do nothing really bitcoin is getting popular .
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October 10, 2016, 02:42:48 PM
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Interesting news, I'm glad to see when bitcoin make some new records . This is just showing that bitcoin popularity is growing across the world, maybe this is a reason of recent price increase.
From Russia always some news that have no logic, why would they ban localbitcoins when just recently they said it's OK to use bitcoins. I started to think that they have some secret agenda with bitcoins, and who knows what their government doing in secret, this Russians are always in some cold war, or something similar. It will be interesting to see what will they do officially in the end.

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October 10, 2016, 03:00:57 PM
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This clearly shows us that people are beginning to understand the benefits of crypto currencies in Russia. Bitcoin public is constantly growing and this is a good signal.

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October 10, 2016, 10:01:28 PM
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I bet the Russian government is confused right now, wondering what to do with its rebellious citizens who just won't obey simple instructions Cheesy
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