77% of Russian investors prefer Bitcoin to Gold and Forex

[hatshepsut93]

If Bitcoin is so popular, then why its marketcap is only a fraction of gold's marketcap? Maybe because gold investors are ready to put large sums into it, while Bitcoin investors only put smaller amounts because of the volatility risks. Or maybe such popularity is only present in Russia and a few other countries while the rest of the world is less enthusiastic about it. Though the US and a few European countries are leaders in node count, so this is probably not the reason.

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[Chrystora123]

this is very excited and shocking the Russian government.  it is clear that a significant increase occurred at a rapid time, in recent years people have started to switch investments to crypto.. 

The Russian government in power can't do much about this happening phenomenon..

[7788bitcoin]

Though am not a Russian but when it comes to reality and technical development I love the country and I wish others too should follow up the trail in support for btc, it surprised me and I feel bad when I hear some countries are yet to support the move for btc adoption, why?... Is it under-development or lack of civilization, here in this article one of the Russian's self regulatory organization called  Russian's Association of Currency Brokers made in a statement that the Bitcoin investment is preferred to Gold and forex.

A government supporting a decentralized currency and the majority of the users adopting a decentralized currency are completely different things even in face value.

If a country can lead the move in support for crypto, then the young agile populating youths will take the challenge for emulation. Crypto is not a scam, it's a new development launch of digital currency and it's going world wide on acceptability with full operational usage.

The articles talks about individuals who are preferring Bitcoin than forex or gold and it has nothing to with the government doing anything. May be majority are tech savvy and do their research. I know it is a survey result and i do not buy it as a conclusive evidence of anything .

[dunfida]

this is very excited and shocking the Russian government.  it is clear that a significant increase occurred at a rapid time, in recent years people have started to switch investments to crypto.. 

The Russian government in power can't do much about this happening phenomenon..

No government could really stop when it comes to adoption or recognition of bitcoin or crypto market as a whole but somehow they could impose bans and restrictions specially to those regulated platforms
which would really be a big headache for us crypto users or enthusiast but well it wouldnt really be that enough though to stop us completely and its no surprise that each country would have
that bigger percentage on trusting up bitcoin or crypto investment but it isnt just right that you would totally leave gold and forex behind.If you do have the funds or money
then why wont select them all?

[Kemarit]

this is very excited and shocking the Russian government.  it is clear that a significant increase occurred at a rapid time, in recent years people have started to switch investments to crypto.. 

Yeah, they could have been switching to crypto, but the amount of money flowing from gold to crypto is insignificant in my opinion. For one, if gold investors doesn't understands crypto's volatility, then might not switch at all or just testing the waters and putting minimal investments.

The Russian government in power can't do much about this happening phenomenon..

Of course, no one can really stop crypto, unless they put a blanket ban. And even if they do that, still there could be Russians buying underground thru P2P.

[Bitcoin Seller]

I am Russian and I can say that it is easier to enter the crypto market than to enter the forex or stock market. As sometimes you just need qualified investor status, sometimes you need to have a minimum amount of money which is also usually a quite big amount to start. Young guys are really in favour of progressive bitcoin. Moreover, I work in the crypto market and haven’t had to pay taxes yet, but with gold and forex there is an opposite situation.

[Sithara007]

I am Russian and I can say that it is easier to enter the crypto market than to enter the forex or stock market. As sometimes you just need qualified investor status, sometimes you need to have a minimum amount of money which is also usually a quite big amount to start. Young guys are really in favour of progressive bitcoin. Moreover, I work in the crypto market and haven’t had to pay taxes yet, but with gold and forex there is an opposite situation.

A bit confused when you mention that you don't have to pay taxes. Can you elaborate a bit? As per the law passed by the Duma in July, users of cryptocurrency are required to declare receipts in excess of RUR 600,000. Tax at normal rates need to be paid on any profit arising from trade with cryptocurrencies. There is a penalty of 40%, if the taxes are not paid on time. It may sound a little bit harsh, but I have to say that the government position on cryptocurrency seems to be much more friendlier than the one we have here in India.

[pooya87]

If Bitcoin is so popular, then why its marketcap is only a fraction of gold's marketcap?

Because it is not more popular
The problem with all of the surveys like this one is that their selection process is severely flawed and they always target a small group that is not representative of the whole population. Consequently the results they get is very misleading. It is like those topics on "bitcointalk" asking if they should buy bitcoin or gold! Obviously 100% of thes answer here will suggest bitcoin but that doesn't mean 100% of people are buying bitcoin.

[so98nn]

That is new learning for me. Considering 77% is huge number in any country at this point. So the day won’t be far from this point where Russia will be 100% in the crypto ventures and the infrastructure will be developed full fledged. May be this will make America to think about the crypto adoption and gain the power in a race of developments. I am saying this from the past experience where America always wanted to be ahead of Russia when there was time to reach the moon and launch the first manned mission. This race and urge to be ahead of that country made America go crazy about space programmes. Let’s be honest this can be true with the crypto adoption too and overall effect? Well rest of the countries get to enjoy the portion of infra because of their developments.

[Kakmakr]

Well, if you can believe the mainstream media and popular websites, Russia should have some of the best hackers in the world... and if many of them are "Black hats" then most of them would be using Bitcoin to hide their stash. (Ransomware and hacking exploits)

Also, if you have a dictator as a President, you also have to keep your wealth moveable... and it is also not easy for a government that are "corrupt" to seize your wealth, if it comes to that. (Gold and shares and Forex can be traced and seized) 

[hd49728]

Gold is old, cash is trash

Fiat, cash only lost value with hyper inflation. Purchasing Power of the US. dollar over time

Gold is not trash but it has less growth than Bitcoin in last 5 years. Gold change in last 5 years is 36.44%, last 20 years is 571.8%. In last 5 years, what is change of Bitcoin? Is it bigger than 36.44%? It is bigger than 571.8%, the 20 years growth of Gold.

[zanezane]

That's because it's worth more and they can easily move it out of the country given how low the value of a ruble is. I think the oligarchs want some ticket for themselves as a way out, that's why we see them wanting crypto as an investment.

[hd49728]

Let's see how other assets lose their values against Bitcoin. They are gold, crude oil, SP500. Source



Another article in 2020 presents that people are aware and realized the more expensive value of Bitcoin. They think more when making transactions and they have to change from Bitcoin to satoshis for transactions.

An unprecedented experiment in fair distribution


You can check the chart for Satoshi per dollar: https://stats.buybitcoinworldwide.com/satoshi-per-dollar/

They all represent a same fact, Bitcoin & satoshi are increasing in their values.

[Renampun]

I believe the number is more than 77%...

cryptocurrency really attracts the attention of the world especially one of the creators of the world's number 2 cryptocurrency comes from Russia (vitalik buterin) which is sure to inspire Russians. Russia is an influential country and this is encouraging news imo.

[Fortify]

Though am not a Russian but when it comes to reality and technical development I love the country and I wish others too should follow up the trail in support for btc, it surprised me and I feel bad when I hear some countries are yet to support the move for btc adoption, why?... Is it under-development or lack of civilization, here in this article one of the Russian's self regulatory organization called  Russian's Association of Currency Brokers made in a statement that the Bitcoin investment is preferred to Gold and forex.

If a country can lead the move in support for crypto, then the young agile populating youths will take the challenge for emulation. Crypto is not a scam, it's a new development launch of digital currency and it's going world wide on acceptability with full operational usage.

It is definitely understandable considering the environment that most Russian's live in. Having physical assets that can be stolen by criminals or the government very easily makes precious metals a big no-no. Forex has always been an extremely risky endeavor that is only profitable for the very few and again, if you are successful a nosy government official might easily seize your bank accounts for their personal benefit. That leaves Bitcoin/cryptocurrency as a very desirable asset that is easy to access across borders and allows them to move money out of Russia while in their full control. It is almost the perfect counter to a totalitarian and authoritative regime - decentralized banking.

[dothebeats]

In a country wherein you need to gain the trust of the government in order to expand your business, it’s not surprising that the majority of those who have the financial capabilities to invest and take a risk prefer bitcoin. In Russia, only those who have made significant contributions to the administration can prosper, and those who don’t will have a hard time making it out of the hell hole. Bitcoin provides an avenue for people who don’t have the means to do the government a favor reach financial freedom for themselves.

Then again, the Russian government is ever so strict on its stance re: cryptocurrencies, so bitcoin is, IMO, still not a safe investment if you are a Russian citizen without planning to go out of the country.

[Sithara007]

It is definitely understandable considering the environment that most Russian's live in. Having physical assets that can be stolen by criminals or the government very easily makes precious metals a big no-no. Forex has always been an extremely risky endeavor that is only profitable for the very few and again, if you are successful a nosy government official might easily seize your bank accounts for their personal benefit. That leaves Bitcoin/cryptocurrency as a very desirable asset that is easy to access across borders and allows them to move money out of Russia while in their full control. It is almost the perfect counter to a totalitarian and authoritative regime - decentralized banking.

I have read that in Russia there were incidents of robbery on village churches, where orthodox relics are hosted. So you can imagine the case if someone has a lot of gold or silver bars in his possession. The national currency is less valuable when compared to toilet paper. The Ruble has lost around 60% of its value during the last 7 years. Worst hit are the pensioners and senior citizens, who have most of their savings in the form of fiat bank deposits. And ironically, this is the same group of people who are most opposed to Bitcoin.

[v3liana]

23% of population that doesn't like or really know anything about bitcoin is boomers. They could care less if there already wealthy because there old and they just don't care about the new kind of investment like bitcoin, just look at Warren Buffet he said he just doesn't understand it.

[BuNga_cute]

That is new learning for me. Considering 77% is huge number in any country at this point. So the day won’t be far from this point where Russia will be 100% in the crypto ventures and the infrastructure will be developed full fledged. May be this will make America to think about the crypto adoption and gain the power in a race of developments. I am saying this from the past experience where America always wanted to be ahead of Russia when there was time to reach the moon and launch the first manned mission. This race and urge to be ahead of that country made America go crazy about space programmes. Let’s be honest this can be true with the crypto adoption too and overall effect? Well rest of the countries get to enjoy the portion of infra because of their developments.

If 77% investors from Russia choose Bitcoin, I think it makes a lot of sense. Because many exchanges and projects are from Russia, it means that
Russian investors are aware that the crypto world can be profitable in the future. And I agree with you, that 77% is a very high percentage for
a country that has investors who prefer Bitcoin. I don't know the percentage of investors in America who prefer Bitcoin, there is a high probability too,
because the number of Bitcoin ATM machines in America is very large. This means that the crypto adoption process in America is quite massive
in my opinion, no doubt America always wants to be the best at anything, so in the future or even now both Russia and America are competing
to adopt crypto without all of us knowing. But it would be even better if the Russian or American government supported crypto, as El Salvador did.

[traderethereum]

23% of population that doesn't like or really know anything about bitcoin is boomers. They could care less if there already wealthy because there old and they just don't care about the new kind of investment like bitcoin, just look at Warren Buffet he said he just doesn't understand it.

We do not know the truth if Warren Buffet does not understand bitcoin or used bitcoin as his investment secretly.
But if bitcoin becomes popular, that can attract more people to use bitcoin as their investment.
Maybe those people need to accept a new thing that starts popular in other places and try by themselves so they can know if bitcoin is a scam or it can really help people make money.
If they are already wealthy, that does not mean they do not want to get more money, especially if they decide to invest in bitcoin.