Russia Plans to Beat China To State-Owned Cryptocurrency?

[kassia]

What happened?
According to Russian media, Russia’s president Vladimir Putin has decided that Russia should launch cryptoruble – a state-owned cryptocurrency. The decision was allegedly announced by Nickolay Nikiforov, the country’s minister of telecom and mass communications.
https://goo.gl/oULZAR

Wait, wasn’t that about China?
You have a good eye! A few days earlier, a Chinese official Yao Qian reportedly called for a state-owned digital currency as well. Looks that both countries are now in a race for a state-controlled cryptocurrency.

Why is it important?
Russia is almost as hard on crypto market as China. Although the country hasn’t officially banned ICOs and cryptocurrencies, Russia’s officials including Putin himself do call for crypto regulation.

What’s so special about cryptoruble anyway?
Limited emission. Closed distribution. No option to mine it. And, most likely, the taxation model equal to income tax.

More about this and other news + ICO tips here https://t.me/yoken/54

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[davis196]

Closed distribution and no option to mine it?What kind of shitty coin is this?
I hope that the russian crypto users are smart enough not to buy and use this state-backed crypto.
I`m pretty sure that this is just a way to identify and catch people who own cryptocurrencies in Russia.

[Gozie51]

This is regulation in disguise and I hope Russians wouldn't buy into that gimmick of politically controlled cryptos.

With the state owned cryptos, the freedom is lost. I even think with such, the decentralized nature might also kiss the air as it could be regulated in a way that it will be used in that country since you can't mine in the first place.

[Jating]

What happened?
According to Russian media, Russia’s president Vladimir Putin has decided that Russia should launch cryptoruble – a state-owned cryptocurrency. The decision was allegedly announced by Nickolay Nikiforov, the country’s minister of telecom and mass communications.
https://goo.gl/oULZAR

Wait, wasn’t that about China?
You have a good eye! A few days earlier, a Chinese official Yao Qian reportedly called for a state-owned digital currency as well. Looks that both countries are now in a race for a state-controlled cryptocurrency.

Why is it important?
Russia is almost as hard on crypto market as China. Although the country hasn’t officially banned ICOs and cryptocurrencies, Russia’s officials including Putin himself do call for crypto regulation.

What’s so special about cryptoruble anyway?
Limited emission. Closed distribution. No option to mine it. And, most likely, the taxation model equal to income tax.

More about this and other news + ICO tips here https://t.me/yoken/54

I don't think they have plans to beat China. But they want to have their own crypto currency for a long time now. That's why the talk that they are bitcoin friendly is completely rubbish. It just so happened that China wants to have a state controlled crypto currency of their own. And all the news surrounding their love for cryptocurrency is not true. Initially, there have been talks that they are going to put up a mining farm and Putin loves Ethereum, but all of a sudden they made a sudden U-turn again the cryptocurrency market. Its just about time that they show their true colors. China and Russia already made drastic changes already. We all know that their own cryptocurrency will fail in the long run.

[Kakmakr]

Let's look at the disadvantages of this for the public :

1. ZERO financial privacy < All your transactions will be known by your government >
2. Governments can change the Coin Cap and devaluate your currency, whenever they want.
3. Governments can block or manipulate the private Blockchain and specific transactions.
4. Governments can hide transactions from the public.
5. Governments have full control over your wealth. < They can transfer your coins to their address at a push of a button >

This is even worst than private banks or private <centralized> financial institutions, like PayPal. ^grrrrrrr^

[Vastraint]

This is regulation in disguise and I hope Russians wouldn't buy into that gimmick of politically controlled cryptos.

With the state owned cryptos, the freedom is lost. I even think with such, the decentralized nature might also kiss the air as it could be regulated in a way that it will be used in that country since you can't mine in the first place.

True and then other countries will follow, its like stealing the technology and then making it their own, is satoshi will make a patent in the blockchain the nations will beg for that technology and what they are doing is not funny anymore, they just dont want to lose control of the money. I once admired russia because they banned the cartel of the rotschild but now im disappointed.

[Almat]

Closed distribution and no option to mine it?What kind of shitty coin is this?
I hope that the russian crypto users are smart enough not to buy and use this state-backed crypto.
I`m pretty sure that this is just a way to identify and catch people who own cryptocurrencies in Russia.

A centralized coin lol. Yeah I honestly think it's shit, and there would be few to zero advantages in using it over Bitcoins, or even over respectable alts like Litecoin. Putin does what Putin wants though.

[ArdiPrabowo]

good news i hope realize vladimir putin launch cryptoruble
so bitcoin user crypto user is very safe use bitcoin and altcoin

[joseafonso123az]

Let's look at the disadvantages of this for the public :

1. ZERO financial privacy < All your transactions will be known by your government >
2. Governments can change the Coin Cap and devaluate your currency, whenever they want.
3. Governments can block or manipulate the private Blockchain and specific transactions.
4. Governments can hide transactions from the public.
5. Governments have full control over your wealth. < They can transfer your coins to their address at a push of a button >

This is even worst than private banks or private <centralized> financial institutions, like PayPal. ^grrrrrrr^

All said here! Having a controlled by the government digital currency is worse than having fiat running around. I bet even having fiat is a bit more liberal than having this kind of digital currency. One of the things that digital currency broought was that it is anonymous, but with this, everything will be in control of the government. You can even end up not having your transactions confirmed because the government didnt want you to transact. Hope, people see these disadvantages and dont pull of BTC( unless these countries ban the use of BTC).

[rarkenin]

good news i hope realize vladimir putin launch cryptoruble
so bitcoin user crypto user is very safe use bitcoin and altcoin

Putin is smart guy and he knows control mechanisms better than other presidents.Creating cryptoruble is first step to russian based  blockchain.They will not let other cryptos to compete or beat their own regualted coin.