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

[Nemo1024]

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.

Could you please stop this bullshit? You've been watching too much CNN/BBC stuff...
If you want to go down that route, you should remember what US government did to people holding gold in the beginning of 20th century.

As for Russia, it is quite innovative, when the blockchain technology is concerned. Re Buterin's talk with Putin regarding the technology in general in Ethernet in particular.

What Nikiforov said is that Bitcoin will not be made a legal state tender on the territory of RF. But then again, neither are dollars or Euros are legal tender in Russia. And neither is Euro or Rouble a legal tender in USA.

Now, if you want the state of affairs regarding Bitcoin and blockchain in Russia, I'd suggest the following two reads, closer to source, i.e. Russia:

Russia’s Love Affair With Crypto Confuses Many
http://russia-insider.com/en/russias-love-affair-crypto-confuses-many/ri21668

“After the meeting, it seemed to me that the light flicked on for him [Putin]” Tom Luongo, an expert on the Russian economy, told VICE News. ”This was a way to rapidly push forward Russian financial and banking services, they are now moving rapidly to effectively digitize their entire economy.”

Bitcoin megacity could rise in Russia's Siberia
https://www.rt.com/business/410028-russia-bitcoin-megacity-siberia/

Russia may soon build a city in Siberia just to mine cryptocurrency. The idea is to provide a new source of income for people and the state, and in the future create a rival to Silicon Valley.

The city should be located in Siberia or the Far East, not far from a large hydroelectric power station, according to Russian State Duma member Boris Chernyshov.

Cryptocurrency mining has become popular in Siberia due to the region's low energy costs. The process requires computing power and lots of electricity. Irkutsk has become a hub for cryptocurrency mining because electricity is very cheap, about five times less expensive than in Moscow.

"A mining city will help people make money, buy apartments and other things they need. It will replenish the state budget at the expense of taxes. If we build such a settlement near the border, for example, with China, this will immediately cause great interest, there will be flows of business tourists. Such a place will become a business hub, bringing investment from abroad. This is a driver, a point of growth," said the deputy.

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[chicobr]

Although Russia or China ban Bitcoin. It still develop. Because there are many banks and corporations in the world such as Japan, America, South Korea accept Bitcoin. So, no problem!

[ezbreezy08]

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/

It's quite tricky for me, i mean they use blockchain but not bitcoin for transaction how can they build an ICO that not using bitcoin coz i know Ethreum and waves transactions is connected to bitcoin. but how come?

[aioc]

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/

Russia is a communist country their structure is very much different from other democratic country and we had more democratic countries than communistic ones, so the impact will not very hard but there will still be a lot of Russians participating in trading Bitcoin because they knew the full value of Bitcoin.

[hicham0211]

the currencies will be accepted by the whole world, it is just a question of time, we have not to forget that the technology of the blochaine has lately become ispired by many  countries,

[Marry Finch]

The words and actions of officials of various government structures in Russia do not always converge and have always been contradictory in relation to the crypto currency. However, I think that the current Russian government will not allow its people to legally use bitkoyn and other types of crypto currency. They want to fully control their people, and the principles of the functioning of the crypto currency do not correspond to their aspirations.

[MaxSmith87]

Hahaha Bitcoins are illegal because they are evil.... So we'll steal the technology and use a centralized version.

And this my friends is how you fall decades behind your fellow countries. Good luck to all Russians. This is an uphill battle against incompetent bribed morons.

Hah i guess in this country many old people who trust in god as fuck and cannot understand what is virtual currency. Unfortunately...

[Hakkerman101]

Wellll, I've heard somewhere that  Russia can legalize bitcoin and other crypto-currencies as early as next year. The Bank of Russia and profile departments now determine what status they should get. At any given time, the state must know who is on both sides of the financial chain. If there is a transaction, the people who conduct it must understand who they are buying from and to whom they are selling, just like with banking transactions

The Bank of Russia and the relevant departments are developing a joint position regarding the status of the crypto currency. According to him, afterwards, approaches to their regulation will be determined.

[TheCoinGrabber]

It's very likely that what he mentioned as use of blockchain would be on the government's own fiat. Bitcoin coming in is basically money from abroad and it seems the Russia wants total control of its economy. Digital ruble anyone?

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.

Oh, that's horrible. 

Back in the XX century, russians said Russia would never be capitalist because socialism would prevail all over the world. Look what happened.

Ignore this fool.

Was it also Russian that advocated printing a lot of money to the point that it becomes worthless so that people would no longer bother working for money? Commies sure comes up with a lot of crazy ideas.

I would agree with you on your third point but capitalist countries are not doing such a good job either, the US printed a lot of money in the previous years and many other countries around the world did the same, things are about to get really difficult maybe not in this year but soon enough since a global economy based on debt cannot last forever.

Yeah, it's eventually gonna blow and the collapse of petrodollars would drag the entire world down. I just hope when fiat becomes as worthless as a Zimbabwean dollar, most people already have at least a bitcoin wallet and just use that to transact.

[futureofeth]

no country can completely regulate bitcoin it can observe and form guidelines but can't stop and legalize technology is fast changing in this world

[BitBenefit]

Most govs see bitcoin as a threat and some will try to get rid of it

[furry04]

It s not problem whether countries adopt the same thing or note. The issue here is that btc can`t be stopped and as soon as just one competitor of Russia accepts it, they would have no other choice as they will be out of competition 

[Baofeng]

Wellll, I've heard somewhere that  Russia can legalize bitcoin and other crypto-currencies as early as next year. The Bank of Russia and profile departments now determine what status they should get. At any given time, the state must know who is on both sides of the financial chain. If there is a transaction, the people who conduct it must understand who they are buying from and to whom they are selling, just like with banking transactions

The Bank of Russia and the relevant departments are developing a joint position regarding the status of the crypto currency. According to him, afterwards, approaches to their regulation will be determined.

That is not what their body languages is saying. That's why I always takes a grain of salt anything coming from them. They are like 2 different countries. One would say that they "all love" crypto and bitcoin is close to Vitalik. Then on the next day, its the complete opposite, that's why I have a good laugh at them. LOL.

I seriously doubt what you are saying here without any sources. Its already out there that they will not legalized bitcoin and crypto because they can't control it. And the way to please their citizens is to have their own crypto's. But how can a ordinary citizens bought it when it is heavily taxed at around 13-15%?

[yashticao]

most of the government in their own countries doesn't like BTC, because of taxes issue and it is a rival of the bank.its  like a single people setting up his personal bank

[Pearlfx]

It's gonna be so hard to do because no government control BTC. the earlier they embrace the revolution the better it gets for them.

[well1985]

in a few years it woul be legalized all over the world

[SpekterX]

most of the government in their own countries doesn't like BTC, because of taxes issue and it is a rival of the bank.its  like a single people setting up his personal bank

it's true.
the government prohibits everything that can't be controlled or from which they can't take the taxes
did you know? the whole world uses linkedin, but in russia it's officially blocked 

[Rexler]

most of the government in their own countries doesn't like BTC, because of taxes issue and it is a rival of the bank.its  like a single people setting up his personal bank

it's true.
the government prohibits everything that can't be controlled or from which they can't take the taxes
did you know? the whole world uses linkedin, but in russia it's officially blocked 

People hate stuffs they can't control. Same goes for the government. But one thing is certain. Either they like it or not, people will keep on using Bitcoin. Decentralization will soon takeover the world. No one's stopping that!

[FasTroy]

Although Russia or China ban Bitcoin. It still develop. Because there are many banks and corporations in the world such as Japan, America, South Korea accept Bitcoin. So, no problem!

Yes, The majority of the countries in the whole world would accept bitcoin, so i don't think that is really a problem if one or two countries ban bitcoin. The world is too big, and the development of bitcoin will grow more day by day, so Maybe in the future, I mean after 10 years, bitcoin will be used by the most of countries locally and also we can see it as an international currency.

[SpekterX]

most of the government in their own countries doesn't like BTC, because of taxes issue and it is a rival of the bank.its  like a single people setting up his personal bank

it's true.
the government prohibits everything that can't be controlled or from which they can't take the taxes
did you know? the whole world uses linkedin, but in russia it's officially blocked 

Decentralization will soon takeover the world. No one's stopping that!

no doubt. and i hope it will be sooner