Russia says BTC will never be legalised - do you think we'll see a knock on?

[the_hillman]

Nikolai Nikiforov stated: "Bitcoin is a foreign project for using blockchain technology, the Russian law will never consider bitcoin as a legal entity in the jurisdiction of the Russian Federation."


The article goes on to say:

"However, Nikiforov added that it is "quite possible" that Russia could consider using blockchain technology, as well as various digital tokens. However, he did not provide any context in which the technology might be utilized."

Do you think we'll see other countries going down this route?

Source: https://www.coindesk.com/russia-will-never-consider-bitcoin-legalization-says-minister/

[matuson]

It is quite true. I believe that it will. Russia will never allow the free circulation do not of their territory is a controlled currency. The methods of the struggle can be very hard. During the Soviet era in Russia shot people for trade dollars. Putin came from the KGB so I assume any options.

[Jamie Oliver]

Bitcoin is a global one. I do not think it is a single country in Russia. I do not think it has anything to do with Bitcoin. So I should not panic. I think I should face up to the different views of Bitcoin.

[Mr.Stinson]

How can a country ban a cryptocurrency like bitcoin? if it is dezentralized you should not have to worry about it or did i forget something?
i know they can close exchanges and so on but you can still buy/sell things with btc or bring btc on your smartphone from a third party country.

so please correct me if i am wrong and tell me why...peace out

[Kajevy]

all government support bank and bitcoin against bank (p2p) so that all government make bitcoin legalised like russia

[H1X360]

This makes perfect sense considering russias history. I am definitely expecting there to be a government sponsored crypto to make use of blockchain technology but like people said this one will be highly controlled.
I am not sure if this is reason for concern or not, this was something to be expected honestly.

[stompix]

How can a country ban a cryptocurrency like bitcoin? if it is dezentralized you should not have to worry about it or did i forget something?
i know they can close exchanges and so on but you can still buy/sell things with btc or bring btc on your smartphone from a third party country.

so please correct me if i am wrong and tell me why...peace out

Simple.
You are not allowed to buy anything in a store in Russia with bitcoins.
You are not allowed to use a bank account to buy bitcoins from an exchange.
What are you going to use your coins for?

Let's say the punishment for buying bitcoin on localbitcoins would be 25 years in a reeducation camp in Siberia..
Are you still going to try and buy?

With the amount of people who disappear in Russia or get poisoned,stabbed, or decide to kill themselves with 10 bullets in the back do you think it is going to be a wise idea if the Putin cartel is really bent on banning it?

[teilwalL05]

Do we really need Russia to support and pump bitcoin? even if Russia would not legalize bitcoin because it is made in the foreign country, well even if Russia would not get on the hype I think they have Ethereum in their side that has a potential to make a level just like bitcoin did, but I really think that Japan, U.S. Canada, Australia, E.U. Finland and the list Go on I think bitcoin had shown us that it is really Worthy to make an investment and wait because the value is super high right now

[mk4]

Do we really need Russia to support and pump bitcoin? even if Russia would not legalize bitcoin because it is made in the foreign country, well even if Russia would not get on the hype I think they have Ethereum in their side that has a potential to make a level just like bitcoin did, but I really think that Japan, U.S. Canada, Australia, E.U. Finland and the list Go on I think bitcoin had shown us that it is really Worthy to make an investment and wait because the value is super high right now

We definitely do not need Russia to support bitcoin, but it definitely helps alot knowing that Russia is a country with a good population(roughly 140million in 2016). Legalization isn't really necessary, but legalization is definitely a huge plus.

[Xervo]

Nikolai Nikiforov stated: "Bitcoin is a foreign project for using blockchain technology, the Russian law will never consider bitcoin as a legal entity in the jurisdiction of the Russian Federation."


The article goes on to say:

"However, Nikiforov added that it is "quite possible" that Russia could consider using blockchain technology, as well as various digital tokens. However, he did not provide any context in which the technology might be utilized."

Do you think we'll see other countries going down this route?

Source: https://www.coindesk.com/russia-will-never-consider-bitcoin-legalization-says-minister/

I'm taking this temporary statement. Unfortunately, the government of the Russian Federation is not competent in many questions. They do not know until now what they are dealing with and how this can all be applied in practice. Such statements only aggravate the situation of Russia's lagging behind the leaders of world countries.

[evilgreed]

Do we really need Russia to support and pump bitcoin? even if Russia would not legalize bitcoin because it is made in the foreign country, well even if Russia would not get on the hype I think they have Ethereum in their side that has a potential to make a level just like bitcoin did, but I really think that Japan, U.S. Canada, Australia, E.U. Finland and the list Go on I think bitcoin had shown us that it is really Worthy to make an investment and wait because the value is super high right now

We definitely do not need Russia to support bitcoin, but it definitely helps alot knowing that Russia is a country with a good population(roughly 140million in 2016). Legalization isn't really necessary, but legalization is definitely a huge plus.

            Literally it will give a lot of hints for all those people living in Russia that are holding back because of its hold. I guess it will really help a lot, and knowing that it coud boost its popularity and help people acknowledge bitcoin much more likely investors in the same way. Although the term legalization is not much likely need, but freedom of using and for merchants that are welcomed to accept, can really be a huge development.

[kotajikikox]

nothing to worry mate if Russian government will never be legalized because nobody can dictate to government officials of Russia that the freedom of choice of every nation but I think if the Russian government know the bitcoin are accepted by entire nation someday the official decide to be bitcoin as legal currency in the Russian country.

[allthingsluxury]

I don't think this will affect the price of Bitcoin in anyway, shape, or form.

[albert11]

Nikolai Nikiforov stated: "Bitcoin is a foreign project for using blockchain technology, the Russian law will never consider bitcoin as a legal entity in the jurisdiction of the Russian Federation."


The article goes on to say:

"However, Nikiforov added that it is "quite possible" that Russia could consider using blockchain technology, as well as various digital tokens. However, he did not provide any context in which the technology might be utilized."

Do you think we'll see other countries going down this route?

Source: https://www.coindesk.com/russia-will-never-consider-bitcoin-legalization-says-minister/

We cannot do anything about it if that is the declaration of their government.  They are justnprotecting what shouod be protected in their country.  As long as we are not from Russia and that we can still earn bitcoin, this news shoukd not affect us.  I am just thankful that I do not resides on country like this.

[Fahim]

Putin is Hitler. He wants to control everything. The idea of ​​decentralizing for him as a salt for a bloody wound. What he can not control - he forbids. There even the Internet is completely under control. If the government in the country changes, then the view on the crypto currency will change. As long as Putin is president - it is not possible. Under the dictatorship, there is no freedom, in the crypt world, even more so.

[xdrpx]

The biggest misunderstand I see in his statement is "Bitcoin is a foreign project for using blockchain technology". Bitcoin decentralized is not a "foreign" project, if the Russian citizens used BItcoin for their everyday trade, it's a national usage and even the exchanges happening on local exchanges again are national. If the peoeple consider Bitcoins over using the Russian Ruble's then it's not foreign at all. This misunderstand itself is enough to indicate his understanding about Bitcoins. Also Bitcoin and the blockchain were formed together, wouldn't this also make blockchain technology in his case "foreign"? Then I guess that shouldn't be welcomed as well.

Also now about the statement on its legality status. Lets consider China, the Chinese Government did ban trading of Bitcoins once before, and it didn't turn out well. People kept trading on local exchanges and over-the-counter exchanges. This didn't affect the price as much, and thus doesn't matter.

[BrewMaster]

i never understand the Russian stance about bitcoin!
for years i keep hearing different kinds of news coming from Russia. some day some government official says we should ban bitcoin, a while later the had of Russian central bank says we have no issue with bitcoin and it is completely legal because it is traceable, then a while later another government official says something different.

it looks like they either go back and forth with bitcoin or each one over there has his own opinion which they release as statements!!

[Kprawn]

All indications are that Putin wants to support Ethereum. He has a good relationship with the founder Vitalik Buterin.

https://www.coindesk.com/vladimir-putin-vitalik-buterin-discuss-ethereum-opportunities-recent-forum/

I would not find it strange if we hear an announcement that Russia would be endorsing Ethereum and banning Bitcoin in the

future.  

[EcoChavCrypto]

A lot of people were saying that Vladimir Putin was going to start creating a new token called the Cryptorubble, where is all that stuff now? it seems that all those things dissapeared, maybe they all were fake news to make bitcoin rise once again.

It just makes no sense at all, first they were saying that they were supporting ethereum, and ethereum tokens.

Nikolai Nikiforov stated: "Bitcoin is a foreign project for using blockchain technology, the Russian law will never consider bitcoin as a legal entity in the jurisdiction of the Russian Federation."

Have you guys noticed that all the news that we get from Russia all are distorsionated? It is incredible, af the beggining, we knew that Russia was "supossed" to be regulating ico's, and it was fake.
Then, they said that Russia was licking the ass of ethereum founder in order to create a new "alliance" so they can work on the future.
After that, russia was going to develop the cryptorruble, thing that it is impossible to be a crypto because that is centralized as fuck.
And now, they are BANNING bitcoin.. What is the real situation in here? we dont even know what is happening right now.

[scottykarate]

A lot of people were saying that Vladimir Putin was going to start creating a new token called the Cryptorubble, where is all that stuff now? it seems that all those things dissapeared, maybe they all were fake news to make bitcoin rise once again.

It just makes no sense at all, first they were saying that they were supporting ethereum, and ethereum tokens.

Nikolai Nikiforov stated: "Bitcoin is a foreign project for using blockchain technology, the Russian law will never consider bitcoin as a legal entity in the jurisdiction of the Russian Federation."

Have you guys noticed that all the news that we get from Russia all are distorsionated? It is incredible, af the beggining, we knew that Russia was "supossed" to be regulating ico's, and it was fake.
Then, they said that Russia was licking the ass of ethereum founder in order to create a new "alliance" so they can work on the future.
After that, russia was going to develop the cryptorruble, thing that it is impossible to be a crypto because that is centralized as fuck.
And now, they are BANNING bitcoin.. What is the real situation in here? we dont even know what is happening right now.

Putin will definitely want his cut of any crypto he can. Plain and simple. He's ruthless. A man who would have someone assassinated in a UK in such a blatant and obvious way is not going to be adverse to trying to control any currency that could undermine his power. He will only allow crypto to exist if he can profit.