Will Russia beat every country at creating their first national cryptocurrency?

[Siskaver]

Do you think Russia will be the first one to succeed into creating a national altcoin?

Apparently they are even considering taxing it at 13%:

https://techcrunch.com/2017/10/15/russia-may-soon-issue-its-own-official-blockchain-based-currency-the-cryptoruble/

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[makila]

it may launch it but the big question is who is gonna adopt it. do you believe americans for example will be eager to adopt a russia issued coin?

the whole point and much of the success of btc is that it is decentralized

[azguard]

it may launch it but the big question is who is gonna adopt it. do you believe americans for example will be eager to adopt a russia issued coin?

the whole point and much of the success of btc is that it is decentralized

Nice example dont think that creating some national coin will bring something to the crypto on the contrary think it will be opposite.
Dont expect to see any adoptions if it not bitcoin or ETH nothing else in this I cant see happening in the upcoming time.

Creating this coin or token if it gonna be ETH based is probably waste of time, but if they are eager to make so let them make dont expect to be success in eny way.

[AUruHM]

Crypto ruble will be another alt that's all. By law it can be prohibit free base crypto but in all world it's impossible. Only state regulation and taxes are main goals.

[LLec]

it may launch it but the big question is who is gonna adopt it. do you believe americans for example will be eager to adopt a russia issued coin?

the whole point and much of the success of btc is that it is decentralized

It might be airdropped to all its citizens and they'd get incentivized to use it one way or another. I don't know? It's just speculation but they could try something like that.

[VeeTeaSee]

taxing 13% of the crypto? lol good luck to them

[chanc3r]

Do you think Russia will be the first one to succeed into creating a national altcoin?

Apparently they are even considering taxing it at 13%:

https://techcrunch.com/2017/10/15/russia-may-soon-issue-its-own-official-blockchain-based-currency-the-cryptoruble/

Wow.... remember in the previous time putin already stated against bitcoin and all of the crypto currency, i think that the putin will try to use ethereum platform, i remember vitalik ever meet with putin.

[urp0k1911]

What could happen is CryptoRuble will be used as a step to legalize and regulate cryptocurrencies and exchanges in Russia. Russia has been very progressive in banning foreign websites. Even localbitcoins is banned. So what they can do is ban all the exchanges, that do not use cryptoruble, and Russians will be able to buy crypto legally with cryptoruble only. That explains a 13% tax. This certainly is not how crypto was designed to work - in unregulated, decentralized way. I think that is what China is also preparing now for its citizens. Lets see how will it work out.   

[NeuroticFish]

Do you think Russia will be the first one to succeed into creating a national altcoin?

Dubai already has its own cryptocurrency from what I know. It's not a country, but I'd still call that one the first.

And while I am inclined to distrust government controlled cryptocurrencies, I'd trust even less this CryptoRuble.
I mean, come on, Putin was just a couple of days ago against Bitcoin, calling for ban of all cryptos in Russia. And now he has his own crypto? How long until he changes his mind again? What if you invested your money into it and he decides to halt this project just because he changed his mind?

[onyebuchi81]

first china and Russia?i think something is about to happen in the cryptosphere .governments are desperately trying to get a pieces of the pie.funny how the very countries trying to ban crptocurrencies are the the-same countries trying to introduce their own digital currency. HYPOCRISY in its simplest form.they just realise the motto"if u cant beat them you better join them"

[Tyrantt]

Do you think Russia will be the first one to succeed into creating a national altcoin?

Dubai already has its own cryptocurrency from what I know. It's not a country, but I'd still call that one the first.

And while I am inclined to distrust government controlled cryptocurrencies, I'd trust even less this CryptoRuble.
I mean, come on, Putin was just a couple of days ago against Bitcoin, calling for ban of all cryptos in Russia. And now he has his own crypto? How long until he changes his mind again? What if you invested your money into it and he decides to halt this project just because he changed his mind?

As much as I know, Dubai doesn't have its crypto but is seriously considering implementing it just as Japan is planing unti the next olympics (not quite sure is it olympics or not, not home to check) and Lithuania, not sure again, has already issued their crypto but it's not recognized by the EU.

[Noxmfs]

Japan is leading for now.
But either way Russia is on the right track also. All they have to do is adopt Ethereum. Why create another currency when they have already developped one? In my opinion their best bet is adopting it.
But still, less than 1% of the population knows what crypto is. If more people get involved in it, every country in the world will be willing to create its own currency.

[apimembership]

if a cryptocurrency run by central bank, it means it s not a real decentralized coin.

[Spoetnik]

Canada made a digital coin many many years ago then sold it off. ( i read about it at Coindesk in 2013)
The centralized RUS (non-mined / non-private & taxed) ICO/Premined digital Ruble would be no. 2 maybe.

@NeuroticFish
Why do they ban VPN's ?
It's a communist police state..
They want all the others eliminated for theirs to take over ..actions speak louder than words.

[Qpeep]

We have no idea how the cryptoruble will unfold, but for sure the process will be a very interesting one to observe

[Jonashe]

Cryptocyrrency =/= blockchain.
Of course blockchain will be a game changing technology, but the currency will remain state property. And blockchaining a national currency is useless, because they can't add debt back in. It's why paper money is all over the world, and gold-baked currency was abandoned 50years ago.

[okae]

Do you think Russia will be the first one to succeed into creating a national altcoin?

No, maybe they will beat others at using a centralized alt, but maybe it will not be like they expected, they will understand soon or later that there can't be anything better than bitcoin because of the security related to the current blockchain, that's one of the good things of bitcoin, they can not reproduce it or called it like "something like bitcoin" because it will not be like bitcoin if they are planning to made it centralized...so in the end, what they will do is like OP said an centralized altcoin and let's see how they managed this security...

[NeuroticFish]

Canada made a digital coin many many years ago then sold it off. ( i read about it at Coindesk in 2013)
The centralized RUS (non-mined / non-private & taxed) ICO/Premined digital Ruble would be no. 2 maybe.

@NeuroticFish
Why do they ban VPN's ?
It's a communist police state..
They want all the others eliminated for theirs to take over ..actions speak louder than words.

I know, I live "in the neighborhood" so I know all this pretty well. And I am old enough to remember the days when the things were the same here too. Luckily the computers and internet were babies back then.
But i wanted to tell this from the money point of view. This is a better argument than "trust me, I know how communist states work".
And I didn't know about the VPN - but I find it so "normal" for such countries, so I may have read and ignored the news.

[Tony116]

I guess it takes too much time to create and adopt it in Russia. Russian government cannot work coherently and every single ministry do what they want. It could be seen with the naked eye how they "adopt" crypto.

[AUruHM]

if a cryptocurrency run by central bank, it means it s not a real decentralized coin.

Yes, it's right. It contradicts the idea of decentralization and cryptocurrency. That's why it will be only local currency that may be regulate local laws.