Bitcoin Forum
December 17, 2018, 08:39:32 PM *
News: Latest Bitcoin Core release: 0.17.0 [Torrent].
 
   Home   Help Search Login Register More  
Pages: [1]
  Print  
Author Topic: Russian Finance Minister Doesn’t Think Bitcoin is That Bad  (Read 242 times)
Chronobank
Sr. Member
****
Offline Offline

Activity: 700
Merit: 251

Chronobank.io CMO


View Profile WWW
October 12, 2016, 03:56:01 PM
 #1

Yesterday we reported that Russian authorities restricted access to trading site LocalBitcoins. For years, regulators have sworn to make bitcoin usage criminal, ensuring that any user would be hit with fines or a jail sentence depending on the “level of offense.” Now, it appears some aren’t that convinced bitcoin is a bad thing.

Russian Deputy Finance Minister Alexei Moiseev said on Tuesday that he doesn’t feel bitcoin or digital currencies present any danger towards the country’s financial system. His statement to reporters reads:

“All of this does not pose much of a danger to the public, as it has not taken on a mass character that could pose a threat to our financial system right now. In the future, it could possibly emerge given that it is not regulated.”
It would appear that Russia is undergoing something of a monetary “civil war” of sorts; split right down the issue on the topic of bitcoin. On one hand, current laws ban the use of virtual currencies, granted they are not approved and monitored by the Central Bank of Russia. Furthermore, the country’s Finance Ministry has worked hard over the last two years to ensure criminal penalties are instilled for all bitcoin users, including prison sentences of up to seven years.

But now that same organization is putting these ideas to the side, and according to Moiseev, this is being done so that legislators can study how virtual currencies are handled around the world before they make any final or lasting decisions. He states:

“We have a chance to wait for a while in order to see how the situation unfolds.”
The recommendation is that Russia needs to learn from other countries and legalize bitcoin once and for all, as condemning it is only likely to result in illicit behavior. In Russia, bitcoin use among drug dealers has increased by over 20 times in just the last two years alone, while LocalBitcoins has managed to slide beyond Russian authority and provide users with instructions that will grant them continued access to the site’s services.

http://www.newsbtc.com/2016/10/11/russian-finance-minister-doesnt-think-bitcoin-bad/

Each block is stacked on top of the previous one. Adding another block to the top makes all lower blocks more difficult to remove: there is more "weight" above each block. A transaction in a block 6 blocks deep (6 confirmations) will be very difficult to remove.
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1545079172
Hero Member
*
Offline Offline

Posts: 1545079172

View Profile Personal Message (Offline)

Ignore
1545079172
Reply with quote  #2

1545079172
Report to moderator
1545079172
Hero Member
*
Offline Offline

Posts: 1545079172

View Profile Personal Message (Offline)

Ignore
1545079172
Reply with quote  #2

1545079172
Report to moderator
1545079172
Hero Member
*
Offline Offline

Posts: 1545079172

View Profile Personal Message (Offline)

Ignore
1545079172
Reply with quote  #2

1545079172
Report to moderator
virtualx
Hero Member
*****
Offline Offline

Activity: 644
Merit: 500



View Profile
October 13, 2016, 01:21:43 PM
 #2

Furthermore, the country’s Finance Ministry has worked hard over the last two years to ensure criminal penalties are instilled for all bitcoin users, including prison sentences of up to seven years.
Use faucet to earn $0.01, get seven years jail  Cheesy  Russian Federation is paranoid about bitcoin.

In Russia, bitcoin use among drug dealers has increased by over 20 times in just the last two years alone
The boogieman argument, we've seen it lots of times in western world.

Perle
Sr. Member
****
Offline Offline

Activity: 274
Merit: 250



View Profile
October 13, 2016, 05:02:25 PM
 #3

Furthermore, the country’s Finance Ministry has worked hard over the last two years to ensure criminal penalties are instilled for all bitcoin users, including prison sentences of up to seven years.
Use faucet to earn $0.01, get seven years jail  Cheesy  Russian Federation is paranoid about bitcoin.

In Russia, bitcoin use among drug dealers has increased by over 20 times in just the last two years alone
The boogieman argument, we've seen it lots of times in western world.

And in Russia, all laws are. Putin is a tyrant and destroy everything he does not control. Bitcoin destroys the already stable currency of Russia. Putin will try to avoid it.
barabash
Newbie
*
Offline Offline

Activity: 28
Merit: 0


View Profile
October 23, 2016, 07:17:27 PM
 #4

Furthermore, the country’s Finance Ministry has worked hard over the last two years to ensure criminal penalties are instilled for all bitcoin users, including prison sentences of up to seven years.
Use faucet to earn $0.01, get seven years jail  Cheesy  Russian Federation is paranoid about bitcoin.

In Russia, bitcoin use among drug dealers has increased by over 20 times in just the last two years alone
The boogieman argument, we've seen it lots of times in western world.

And in Russia, all laws are. Putin is a tyrant and destroy everything he does not control. Bitcoin destroys the already stable currency of Russia. Putin will try to avoid it.

but despite this, the law banning cryptocurrency in Russia and was not accepted. so the Russian government's attitude to the loyal cryptocurrency
Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!