[2019-03-14]Russia has Offered to Ban Bitcoin in Every Country

[Vladdirescu87]

Nikolai Arefyev, First Deputy Chairman of the State Duma Committee on Economic Policy, Industry, Innovation and Entrepreneurship, suggested that bitcoin should be banned in every part of the world, and those people who propagate it should be prosecuted as speculators.

“Cryptocurrency should not exist at all. It interferes the development of commodity production. And making money out of money is detrimental to the entire population of the earth. Those who work in this market are speculators,” the parliamentarian said.

Read the details in the article of Coinidol dot com, the world blockchain news outlet: http://bit.ly/2IyBPa0

[hatshepsut93]

“And making money out of money is detrimental to the entire population of the earth. Those who work in this market are speculators,” the parliamentarian said.

Sounds like something a religious fundamentalist would say, or a marxist. Anyway, this is just another example that people should pay zero attention to what Russia says about cryptocurrency, because for years we've been hearing the polar opposite statements, and still there's no official regulations yet.

[gentlemand]

And making money out of money is detrimental to the entire population of the earth.

That's what most of the world's rich do. They don't produce anything. They don't make anything. All they do is prey on money as it swaps ownership.

Did this geezer come straight out of a collective farm after falling through a time warp in 1928?

[Betwrong]

“And making money out of money is detrimental to the entire population of the earth. Those who work in this market are speculators,” the parliamentarian said.

Sounds like something a religious fundamentalist would say, or a marxist. ~

You are close. Nikolai Arefyev is one of the top guys in the Communist Party of the Russian Federation. Those dinosaurs are still holding 43 seats(out of 450) in the State Duma and 334(out of 3,928) in the Regional parliaments of Russia. They are exploiting the inability of some people in Russia to realize that Communism, being a great idea in theory, is incompatible with real life.

[LeGaulois]

Hold on... double standard? What about speculators from the Russian oligarchy? Are they prosecuted by Vladimir? 
So it's ok to speculate but it depends on what, it makes me laugh. Again someone who surely didn't understand a single in crypto (other than it's currency)

[veleten]

an amazing proposal by one of the Communist party representatives
lets ban stock markets and dollars first though , since they are the speculation vehicles far more dangerous than bitcoin
I would not pay attention to any news regarding crypto coming from Russia or India since they can't make their mind and the things we hear from them  are contradictory at best
also  if one of the parliament members  suggests something , it doesn't mean it is the official countrie's position on the matter
but hey "Russia offered to ban bitcoin" vs "Some dude from Russia thinks bitcoin should be banned" - for Coindol the choice is obvious 

[hugeblack]

It's a suggestion. The best solution to these suggestions is to ignore them.
I reserve the term "create money from money" because creating money from money and speculating will eventually lead to a major contraction in currencies and hence a sort of centralized sort.

The purpose of the Bitcoins is to use them and not to speculate them. This does not mean that the harm but not the target.

[1Referee]

It's a very difficult task to have two governments agree on something. It's exponentially harder to have more than two governments agree on something. It's mission impossible to have the whole world ban Bitcoin. Good luck with that.  

Russia and crypto news is just as reliable as McAfee's manhood prediction.

[shamc]

LOL making money out of money is wrong. I suppose printing roubles and other currencies is perfectly okay for governments to do driving up inflation to ridiculous levels, but when we do it it's wrong

[Snaic]

It seems that politicians in Russia are practically all inadequate. True, there is now such an anti-people regime that they would gladly isolate their people from the rest of the world and turn them into their slaves, which is not so far from the truth.
Seem to be. that you should not rely on Russia as a country where a cryptocurrency currency will be free to go. Especially after recently there was almost adopted a law that provides the right to use cryptocurrency only to those who will have a government license and with a special status. That is, it must be assumed that soon they will be punished for using cryptocurrency in Russia, and up to criminal responsibility. What can you do - wild country.

[Kemarit]

“And making money out of money is detrimental to the entire population of the earth. Those who work in this market are speculators,” the parliamentarian said.

Sounds like something a religious fundamentalist would say, or a marxist. Anyway, this is just another example that people should pay zero attention to what Russia says about cryptocurrency, because for years we've been hearing the polar opposite statements, and still there's no official regulations yet.

Right, I'm been calling this for more than two years now, Russia will not adopt crypto in any form. That's why I have a good laugh reading the title. We have known this for many years now and I'm not surprises with this statement. Although I waiting for another contradictory coming from another office or some Russian parliamentary member saying the opposite. 

[elda34b]

Russia (and other countries) should work on solving massive ICO scams from their country first before suggesting bigger things like this.

LOL making money out of money is wrong. I suppose printing roubles and other currencies is perfectly okay for governments to do driving up inflation to ridiculous levels, but when we do it it's wrong

The government doesn't make money out of money though, they just made more money from essentially nothing but an empty promise. That's not sound money and won't ever be.

[magneto]

“Cryptocurrency should not exist at all. It interferes the development of commodity production. And making money out of money is detrimental to the entire population of the earth. Those who work in this market are speculators,” the parliamentarian said.

How does an alternate currency that is separate from the traditional fiat system, all of a sudden decrease productivity and all that?

While it is true that a lot are in bitcoin for speculative purposes only and not to actually adopt the technology and use it as a means of payment, it is not the ultimate goal of bitcoin at all.

If they were really this concerned regarding cryptocurrencies, then why were there rumours that Russia was interested in undertaking their own crypto projects or whatnot? Also, how is a proposed ban going to work at all given that bitcoin is decentralised? Are they just going to ban the businesses that use crypto? Either way, I wouldn't really see this as an issue whatsoever. The enforceability of a worldwide ban is simply not there.

[webtricks]

“Cryptocurrency should not exist at all. It interferes the development of commodity production. And making money out of money is detrimental to the entire population of the earth. Those who work in this market are speculators,” the parliamentarian said.

This made me laugh. He said making money out of money is detrimental for people. So the concept of banks is wrong according to him? Does he think we shouldn't have banks at all! The main activity of banks is to receive money from depositor and pay them interest and give loans and receive interest. So in short, they make money from money. And I don't see how banks are detrimental to population in large. Despite, banks are one of the biggest helper to economic development.

[robelneo]

I don't know how can they do that, it's an intervention in a country's affair, each country has its own rules about cryptocurrency, no country will ever let Russian to interfere on their decision making and their internal affair and besides so many countries don't like Russian ways of intervention.

[pixie85]

“Cryptocurrency should not exist at all. It interferes the development of commodity production. And making money out of money is detrimental to the entire population of the earth. Those who work in this market are speculators,” the parliamentarian said.

This made me laugh. He said making money out of money is detrimental for people. So the concept of banks is wrong according to him? Does he think we shouldn't have banks at all! The main activity of banks is to receive money from depositor and pay them interest and give loans and receive interest. So in short, they make money from money. And I don't see how banks are detrimental to population in large. Despite, banks are one of the biggest helper to economic development.

They are making money from borrowing. It's not exactly making money from money because you are lending to the bank for interest and bank is lending other people for bigger interest. Even mining bitcoin is not making money out of money. It's making money out of electricity.

He got it all wrong but at least he calls bitcoin money.

[Siren]

“And making money out of money is detrimental to the entire population of the earth. Those who work in this market are speculators,” the parliamentarian said.

Sounds like something a religious fundamentalist would say, or a marxist. Anyway, this is just another example that people should pay zero attention to what Russia says about cryptocurrency, because for years we've been hearing the polar opposite statements, and still there's no official regulations yet.

Just like what China is doing?senseless and very selfish ?yeah i agreed ,and instead of banning bitcoin all over the world,why not Lets Banned All related issues caming from Russia here in cryptospace?do you think it would be better?😂

And other than that we also know that some of questionable activities here came from them

[Zadicar]

“And making money out of money is detrimental to the entire population of the earth. Those who work in this market are speculators,” the parliamentarian said.

Sounds like something a religious fundamentalist would say, or a marxist. Anyway, this is just another example that people should pay zero attention to what Russia says about cryptocurrency, because for years we've been hearing the polar opposite statements, and still there's no official regulations yet.

Right, I'm been calling this for more than two years now, Russia will not adopt crypto in any form. That's why I have a good laugh reading the title. We have known this for many years now and I'm not surprises with this statement. Although I waiting for another contradictory coming from another office or some Russian parliamentary member saying the opposite. 

Nothing special and nothing to be surprised of.Russia is just like China when it comes to these kind of stuffs. Saying up things negatively for some time and later on there would be someone or some news
relating to positive ones thats why it would be much better to ignore these fellas if you dont like to make yourself stressed. 

[webtricks]

“Cryptocurrency should not exist at all. It interferes the development of commodity production. And making money out of money is detrimental to the entire population of the earth. Those who work in this market are speculators,” the parliamentarian said.

This made me laugh. He said making money out of money is detrimental for people. So the concept of banks is wrong according to him? Does he think we shouldn't have banks at all! The main activity of banks is to receive money from depositor and pay them interest and give loans and receive interest. So in short, they make money from money. And I don't see how banks are detrimental to population in large. Despite, banks are one of the biggest helper to economic development.

They are making money from borrowing. It's not exactly making money from money because you are lending to the bank for interest and bank is lending other people for bigger interest. Even mining bitcoin is not making money out of money. It's making money out of electricity.

When your primary good of business is Money, it is surely called making money out of money. The Balance Sheet of Banks have 'Advances' on its Assets side and 'Deposits' on its Liabilities side. They are making money out of their Assets i.e. Advances and paying money for their Liabilities i.e. Deposits in the form of interest. So Banks are pure example of how one makes money from money or we can say income out of money. But Bitcoin is nowhere close to the example of 'Making money out of money'. I don't know what he had on mind.

He got it all wrong but at least he calls bitcoin money.

Haha, true!

[Ucy]

Too many contradictory posts on Russia stance on bitcoin/cryptocurrency. which do I believe now?

Assuming the news is genuine how will they enforce the ban worldwide  when WORLD. governments do not agree with each other on certain issues.  Will IMF now regulate the Internet as suggested by them recently https://www.ft.com/content/4526982e-60a0-11e9-b285-3acd5d43599e?shareType=nongift
 It's kind of strange how world ruling elites are so united against things that threaten them but never against things that threaten humanity.