Putin believes Bitcoin has value

[suzanne5223]

I am not surprised that Vladimir Putin believes Bitcoin has value and to be sincere. Russia is the country I expected to first use cryptocurrency as legal tender due to the meeting Putin had with some Executive and Vitalik some couple of years ago about Russia’s economic reform and use of digital economy with their own digital currency. After the meeting, Putin also endorses Ethereum then and I don't know why they seem to pause on the journey. However, Russia is still one of the top countries that recognized crypto so we shouldn't expect something less from a President like Putin.

[Lucius]

People, you need to start thinking with your head, because making a sensation out of one innocent statement really doesn’t make sense. There are two groups of people who claim that Bitcoin has no value - the first are those who really have a low IQ and do not understand anything more than the relationship "bank -> plastic card - > ATM - > PIN -> money" - and those others who are so deeply involved in the existing financial system that they will always be negative about Bitcoin no matter how well they understand it.

Besides, what an obsession it is with a man who poisons his political opponents with radioactive substances or literally kills them under the window of his office. His opinion is literally worthless to me.

[Pejoh Asu]

I am not surprised that Vladimir Putin believes Bitcoin has value and to be sincere. Russia is the country I expected to first use cryptocurrency as legal tender due to the meeting Putin had with some Executive and Vitalik some couple of years ago about Russia’s economic reform and use of digital economy with their own digital currency. After the meeting, Putin also endorses Ethereum then and I don't know why they seem to pause on the journey. However, Russia is still one of the top countries that recognized crypto so we shouldn't expect something less from a President like Putin.

Of course president putin sees a lot of benefits from cryptocurrencies so they can be legalized soon, maybe this is the beginning that bitcoin will soon be legal for transactions like fiat so that will make bitcoin shine even more.

[Yaunfitda]

Just make me think though, if there is one crypto that Putin should adopt and embrace, it should be Vitalik Buterin's Ethereum?

Old article here, 2017: https://www.coindesk.com/markets/2017/06/05/vladimir-putin-and-vitalik-buterin-discuss-ethereum-opportunities/

The president of Russia briefly met with ethereum inventor Vitalik Buterin during an event last week.

The meeting between Buterin and president Vladimir Putin occurred at the St. Petersburg International Economic Forum, which took place between 1st and 3rd June, following an address to a global group of chief executives.

According to the brief statement released on Friday by the Kremlin:

"Mr. Buterin described the opportunities for using the technologies he developed in Russia. The President supported the idea of establishing ties with possible Russian partners."

Or maybe he really see something in bitcoin that his government can used to their advantage like making money for them in terms of taxes?

[guydin]

Russia is adopting a different attitude towards cryptos than China. President Putin has come public saying "Bitcoin has value but it cannot be used in the Oil trade"

I guess Putin didn't still fully grasp the real potential of cryptos as he says

“Cryptocurrency is not supported by anything as of yet. It may exist as a means of payment, but I think it’s too early to say about the oil trade in cryptocurrency.”

But even so, it shows that Russia seems to be adopting a friendly position facing cryptocurrency and it may be having some impact on the industry. Given that China adopted a harsh position towards cryptos, is it possible that miners are relocating from China to Russia? Is it possible for Russia to step up to occupy the former place China had in Bitcoin? I guess this is what is happening, otherwise, Putin wouldn't come public with such a neutral position.

Being a resident of Russia, I am really happy that Putin doesn't prevent us from buying and trading cryptocurrencies. We can't pay with them, but at least we can use them as investment. I think that it is a wise step from him as Bitcoin and blockchain technologies in general have a big potential and are really useful, so if Russia starts adopt Bitcoin in the same way as America, it will be good for it.

[ultrloa]

Russia is adopting a different attitude towards cryptos than China. President Putin has come public saying "Bitcoin has value but it cannot be used in the Oil trade"

I guess Putin didn't still fully grasp the real potential of cryptos as he says

“Cryptocurrency is not supported by anything as of yet. It may exist as a means of payment, but I think it’s too early to say about the oil trade in cryptocurrency.”

But even so, it shows that Russia seems to be adopting a friendly position facing cryptocurrency and it may be having some impact on the industry. Given that China adopted a harsh position towards cryptos, is it possible that miners are relocating from China to Russia? Is it possible for Russia to step up to occupy the former place China had in Bitcoin? I guess this is what is happening, otherwise, Putin wouldn't come public with such a neutral position.

Being a resident of Russia, I am really happy that Putin doesn't prevent us from buying and trading cryptocurrencies. We can't pay with them, but at least we can use them as investment. I think that it is a wise step from him as Bitcoin and blockchain technologies in general have a big potential and are really useful, so if Russia starts adopt Bitcoin in the same way as America, it will be good for it.

Its good to have a open minded president since they could give their citizens an options to venture theirselves on new things just like bitcoin, For sure this will be a good basis to others that they should trust bitcoin to since once other country will think the same as Putin or other government who adopt bitcoin for sure it will be beneficial to us and to the industry to last long and have good institutions to hold on.

[Slow death]

Russia is adopting a different attitude towards cryptos than China. President Putin has come public saying "Bitcoin has value but it cannot be used in the Oil trade"

he says bitcoin has value but he doesn't talk about what he's doing good to promote an environment where people in his country can use bitcoin without his country's banks not blocking accounts... in short his words are empty , they change absolutely nothing about bitcoin in russia. I wonder why the news channels are posting this kind of irrelevant news?

Russia is adopting a different attitude towards cryptos than China. President Putin has come public saying "Bitcoin has value but it cannot be used in the Oil trade"

I guess Putin didn't still fully grasp the real potential of cryptos as he says

“Cryptocurrency is not supported by anything as of yet. It may exist as a means of payment, but I think it’s too early to say about the oil trade in cryptocurrency.”

But even so, it shows that Russia seems to be adopting a friendly position facing cryptocurrency and it may be having some impact on the industry. Given that China adopted a harsh position towards cryptos, is it possible that miners are relocating from China to Russia? Is it possible for Russia to step up to occupy the former place China had in Bitcoin? I guess this is what is happening, otherwise, Putin wouldn't come public with such a neutral position.

Being a resident of Russia, I am really happy that Putin doesn't prevent us from buying and trading cryptocurrencies. We can't pay with them, but at least we can use them as investment. I think that it is a wise step from him as Bitcoin and blockchain technologies in general have a big potential and are really useful, so if Russia starts adopt Bitcoin in the same way as America, it will be good for it.

Its good to have a open minded president since they could give their citizens an options to venture theirselves on new things just like bitcoin, For sure this will be a good basis to others that they should trust bitcoin to since once other country will think the same as Putin or other government who adopt bitcoin for sure it will be beneficial to us and to the industry to last long and have good institutions to hold on.

he's not open-minded, he just said these words without weight because in practice they're not doing anything concrete so that in russia anyone can use bitcoin without having problems.

Russia aims to limit crypto purchases by non-accredited investors

[Questat]

I remember the time that Russia said cryptocurrency trading is allowed but not as means of payment (in other words legal tender). At least they could still trade cryptos, but it would be better if they could expand its use cases like as a medium of exchange. It’s good for Putin to say that Bitcoin has value, but that’s just the first step. Hopefully in the future, he would consider allowing cryptos as mode of payment but should be regulated very well like registering as an operating payment system (OPS).

Its been a while that Putin announcing that Bitcoin could be considered as a legal tender to their country but it was sudden that changes his mind and turn it in favor of Bitcoin adoption. I like the idea of changing his decision but if that only will be going to happen, where it having stricter and regulated rules it never attracts interest for the people to adopt Bitcoin and use it.
I assume that he already understands how it works but with his actions, I think he wanted to make it centralized and take control of everything which is not acceptable by the majority.

[suzanne5223]

I am not surprised that Vladimir Putin believes Bitcoin has value and to be sincere. Russia is the country I expected to first use cryptocurrency as legal tender due to the meeting Putin had with some Executive and Vitalik some couple of years ago about Russia’s economic reform and use of digital economy with their own digital currency. After the meeting, Putin also endorses Ethereum then and I don't know why they seem to pause on the journey. However, Russia is still one of the top countries that recognized crypto so we shouldn't expect something less from a President like Putin.

Of course president putin sees a lot of benefits from cryptocurrencies so they can be legalized soon, maybe this is the beginning that bitcoin will soon be legal for transactions like fiat so that will make bitcoin shine even more.

We don't know when that will be can Putin ought to be the first President to legalized Bitcoin before El Salvador did.

Just make me thinks though, if there is one crypto that Putin should adopt and embrace, it should be Vitalik Buterin's Ethereum?

Old article here, 2017: https://www.coindesk.com/markets/2017/06/05/vladimir-putin-and-vitalik-buterin-discuss-ethereum-opportunities/

The president of Russia briefly met with ethereum inventor Vitalik Buterin during an event last week.

The meeting between Buterin and president Vladimir Putin occurred at the St. Petersburg International Economic Forum, which took place between 1st and 3rd June, following an address to a global group of chief executives.

According to the brief statement released on Friday by the Kremlin:

"Mr. Buterin described the opportunities for using the technologies he developed in Russia. The President supported the idea of establishing ties with possible Russian partners."

Or maybe he really see something in bitcoin that his government can used to their advantage like making money for them in terms of taxes?

Nice one mate. Thats the old article which explained everything I said above but we don't know what Putin discussed with the executives in the meeting they had then. However, he does support Vitalik in his journey of ETH creation right from the beginning and Putin is not the only President that sees Bitcoin as the way to generate more income taxes for the country.

[oHnK]

I remember the time that Russia said cryptocurrency trading is allowed but not as means of payment (in other words legal tender). At least they could still trade cryptos, but it would be better if they could expand its use cases like as a medium of exchange. It’s good for Putin to say that Bitcoin has value, but that’s just the first step. Hopefully in the future, he would consider allowing cryptos as mode of payment but should be regulated very well like registering as an operating payment system (OPS).

Its been a while that Putin announcing that Bitcoin could be considered as a legal tender to their country but it was sudden that changes his mind and turn it in favor of Bitcoin adoption. I like the idea of changing his decision but if that only will be going to happen, where it having stricter and regulated rules it never attracts interest for the people to adopt Bitcoin and use it.
I assume that he already understands how it works but with his actions, I think he wanted to make it centralized and take control of everything which is not acceptable by the majority.

After he told us what is his opinion about BTC, the market become bullish till now. The price of BTC has reached 60K USD. After a long journey for bearish time, we comeback to reach our new level price. No matter, he want to control BTC among the banning action of another country which I know this has made our portfolio get its profit.

[Natalim]

I remember the time that Russia said cryptocurrency trading is allowed but not as means of payment (in other words legal tender). At least they could still trade cryptos, but it would be better if they could expand its use cases like as a medium of exchange. It’s good for Putin to say that Bitcoin has value, but that’s just the first step. Hopefully in the future, he would consider allowing cryptos as mode of payment but should be regulated very well like registering as an operating payment system (OPS).

Its been a while that Putin announcing that Bitcoin could be considered as a legal tender to their country but it was sudden that changes his mind and turn it in favor of Bitcoin adoption. I like the idea of changing his decision but if that only will be going to happen, where it having stricter and regulated rules it never attracts interest for the people to adopt Bitcoin and use it.
I assume that he already understands how it works but with his actions, I think he wanted to make it centralized and take control of everything which is not acceptable by the majority.

After he told us what is his opinion about BTC, the market become bullish till now. The price of BTC has reached 60K USD. After a long journey for bearish time, we comeback to reach our new level price. No matter, he want to control BTC among the banning action of another country which I know this has made our portfolio get its profit.

Putin just made a huge impact on bitcoin that made it reach its strong resistance level at $60k. With this positive impact, i can sense that there is really a future for bitcoin in Russia because the president itself has already believed that bitcoin has a real value. It might be too early to conclude but i think its just a matter of few months already and bitcoin could possibly be accepted in Russia. There is a heresay that Russia can take over China when it comes to crypto but this might take a long process before everything will get into its place.

[Finestream]

I remember the time that Russia said cryptocurrency trading is allowed but not as means of payment (in other words legal tender). At least they could still trade cryptos, but it would be better if they could expand its use cases like as a medium of exchange. It’s good for Putin to say that Bitcoin has value, but that’s just the first step. Hopefully in the future, he would consider allowing cryptos as mode of payment but should be regulated very well like registering as an operating payment system (OPS).

Its been a while that Putin announcing that Bitcoin could be considered as a legal tender to their country but it was sudden that changes his mind and turn it in favor of Bitcoin adoption. I like the idea of changing his decision but if that only will be going to happen, where it having stricter and regulated rules it never attracts interest for the people to adopt Bitcoin and use it.
I assume that he already understands how it works but with his actions, I think he wanted to make it centralized and take control of everything which is not acceptable by the majority.

Well, if he has his own intentions why he come out in the public with a hope in bitcoin, and wishing that it can be controlled by him, then i don't think bitcoin will work in Russia. Its not gonna happen since we all know that bitcoin is always decentralized and there's no way it can be fully controlled even by the president of a country. But, if bitcoin will be used in Russia as a medium of payment, i think it will create an advantage aside from the tax that can be collected from it, bitcoin will always be inflation free so its users will never have to worry about that like they experienced in fiat.

[Murtaza345]

Yes and value of bitcoin will increase more and more because bitcoin is reality,and world understanding the value of crypto currency slowly slowly and more countries will be involved and approved bitcoin in their countries.And I'm looking the Many contries will alow to lagal bitcoin like currieny .So as I say always the world know the future of bitcoin is very bright.

[DoublerHunter]

Yes and value of bitcoin will increase more and more because bitcoin is reality,and world understanding the value of crypto currency slowly slowly and more countries will be involved and approved bitcoin in their countries.And I'm looking the Many contries will alow to lagal bitcoin like currieny .So as I say always the world know the future of bitcoin is very bright.

^ It depends on who is the president of the country, there are leaders that has open m indeed when it comes to blockchain technology or BTC itself.
If all leaders in all countries will enlighten their minds and accept cryptocurrency, it sounds good BTC is more legal tender and has the potential to become a worldwide crypto asset. However, this is good news to the country of Russia that their president was accepted BTC and now, probably the crypto mining business in Russia will increase.

[electronicash]

Yes and value of bitcoin will increase more and more because bitcoin is reality,and world understanding the value of crypto currency slowly slowly and more countries will be involved and approved bitcoin in their countries.And I'm looking the Many contries will alow to lagal bitcoin like currieny .So as I say always the world know the future of bitcoin is very bright.

^ It depends on who is the president of the country, there are leaders that has open m indeed when it comes to blockchain technology or BTC itself.
If all leaders in all countries will enlighten their minds and accept cryptocurrency, it sounds good BTC is more legal tender and has the potential to become a worldwide crypto asset. However, this is good news to the country of Russia that their president was accepted BTC and now, probably the crypto mining business in Russia will increase.

Putin is open for suggestions. He could bann BTC in the country if he isn't open for crypto acceptance.

in some report however Putin doesn't see the need for cryptocurrency as payment for gas making his comment invaluable for the community. but with this coment, i guess it crossed their mind for some time. crypto had gone mainstream as we could see reports already where presidents are talking about it. hopefully the people will see it as hedge.

[stomachgrowls]

Russia is adopting a different attitude towards cryptos than China. President Putin has come public saying "Bitcoin has value but it cannot be used in the Oil trade"

I guess Putin didn't still fully grasp the real potential of cryptos as he says

“Cryptocurrency is not supported by anything as of yet. It may exist as a means of payment, but I think it’s too early to say about the oil trade in cryptocurrency.”

But even so, it shows that Russia seems to be adopting a friendly position facing cryptocurrency and it may be having some impact on the industry. Given that China adopted a harsh position towards cryptos, is it possible that miners are relocating from China to Russia? Is it possible for Russia to step up to occupy the former place China had in Bitcoin? I guess this is what is happening, otherwise, Putin wouldn't come public with such a neutral position.

Being a resident of Russia, I am really happy that Putin doesn't prevent us from buying and trading cryptocurrencies. We can't pay with them, but at least we can use them as investment. I think that it is a wise step from him as Bitcoin and blockchain technologies in general have a big potential and are really useful, so if Russia starts adopt Bitcoin in the same way as America, it will be good for it.

Its good to have a open minded president since they could give their citizens an options to venture theirselves on new things just like bitcoin, For sure this will be a good basis to others that they should trust bitcoin to since once other country will think the same as Putin or other government who adopt bitcoin for sure it will be beneficial to us and to the industry to last long and have good institutions to hold on.

Whenever you do have a leader who do have this kind of positive sentiment towards crypto then you would really give that kind of awareness about crypto existence towards into your vicinity.

Its good to see that one of the most powerful leaders or country does have that kind of consideration or positive towards crypto which they could really be having some significant add up

towards recognition and adoption but lets see on how things would be going because sentiments like this could really changed up from time to time .So lets not make out some conclusions yet.

[Kasabus]

Yes and value of bitcoin will increase more and more because bitcoin is reality,and world understanding the value of crypto currency slowly slowly and more countries will be involved and approved bitcoin in their countries.And I'm looking the Many contries will alow to lagal bitcoin like currieny .So as I say always the world know the future of bitcoin is very bright.

^ It depends on who is the president of the country, there are leaders that has open m indeed when it comes to blockchain technology or BTC itself.
If all leaders in all countries will enlighten their minds and accept cryptocurrency, it sounds good BTC is more legal tender and has the potential to become a worldwide crypto asset. However, this is good news to the country of Russia that their president was accepted BTC and now, probably the crypto mining business in Russia will increase.

Putin is open for suggestions. He could bann BTC in the country if he isn't open for crypto acceptance.

in some report however Putin doesn't see the need for cryptocurrency as payment for gas making his comment invaluable for the community. but with this coment, i guess it crossed their mind for some time. crypto had gone mainstream as we could see reports already where presidents are talking about it. hopefully the people will see it as hedge.

The fact that Putin believes that bitcoin has a real value, i think its a good sign for bitcoin to be accepted soon in Russia. Maybe it will take some time for Putin to consider bitcoin as a medium of payment but when it happens, its price will eventually continue to surge high. And as the number of countries who are considering bitcoin making it as a medium of exchange keeps increasing, then China will certainly feel fears that such countries will no longer need China for their own progress because bitcoin will make it possible.

[retreat]

Russia is adopting a different attitude towards cryptos than China. President Putin has come public saying "Bitcoin has value but it cannot be used in the Oil trade"

I guess Putin didn't still fully grasp the real potential of cryptos as he says

“Cryptocurrency is not supported by anything as of yet. It may exist as a means of payment, but I think it’s too early to say about the oil trade in cryptocurrency.”

But even so, it shows that Russia seems to be adopting a friendly position facing cryptocurrency and it may be having some impact on the industry. Given that China adopted a harsh position towards cryptos, is it possible that miners are relocating from China to Russia? Is it possible for Russia to step up to occupy the former place China had in Bitcoin? I guess this is what is happening, otherwise, Putin wouldn't come public with such a neutral position.

it is clear that the views of the two communist countries are clearly different, China is very ambitious to reduce the prestige of bitcoin in their country and make the digital yuan dominate in the country while Russia has no ambition to beat bitcoin. maybe in the next few years, we will see Russia open its arms to welcome miners to come to their country.

[Shasha80]

~

^ It depends on who is the president of the country, there are leaders that has open m indeed when it comes to blockchain technology or BTC itself.
If all leaders in all countries will enlighten their minds and accept cryptocurrency, it sounds good BTC is more legal tender and has the potential to become a worldwide crypto asset. However, this is good news to the country of Russia that their president was accepted BTC and now, probably the crypto mining business in Russia will increase.

Putin is open for suggestions. He could bann BTC in the country if he isn't open for crypto acceptance.

in some report however Putin doesn't see the need for cryptocurrency as payment for gas making his comment invaluable for the community. but with this coment, i guess it crossed their mind for some time. crypto had gone mainstream as we could see reports already where presidents are talking about it. hopefully the people will see it as hedge.

The fact that Putin believes that bitcoin has a real value, i think its a good sign for bitcoin to be accepted soon in Russia. Maybe it will take some time for Putin to consider bitcoin as a medium of payment but when it happens, its price will eventually continue to surge high. And as the number of countries who are considering bitcoin making it as a medium of exchange keeps increasing, then China will certainly feel fears that such countries will no longer need China for their own progress because bitcoin will make it possible.

There is no guarantee that Russia will accept Bitcoin with what Putin said about Bitcoin. But it's a good sign that Russia is not a Bitcoin hater
like China, so either way it's good news. It is also possible that Putin said this to provoke a reaction from the Chinese government, which did
ban Bitcoin. Or Putin is still considering the advantages that Russia will get if Russia is really open to Bitcoin. But if Russia really accepts Bitcoin,
this will have a very big impact, because Russia is a big country that is quite influential.

[electronicash]

Yes and value of bitcoin will increase more and more because bitcoin is reality,and world understanding the value of crypto currency slowly slowly and more countries will be involved and approved bitcoin in their countries.And I'm looking the Many contries will alow to lagal bitcoin like currieny .So as I say always the world know the future of bitcoin is very bright.

^ It depends on who is the president of the country, there are leaders that has open m indeed when it comes to blockchain technology or BTC itself.
If all leaders in all countries will enlighten their minds and accept cryptocurrency, it sounds good BTC is more legal tender and has the potential to become a worldwide crypto asset. However, this is good news to the country of Russia that their president was accepted BTC and now, probably the crypto mining business in Russia will increase.

Putin is open for suggestions. He could bann BTC in the country if he isn't open for crypto acceptance.

in some report however Putin doesn't see the need for cryptocurrency as payment for gas making his comment invaluable for the community. but with this coment, i guess it crossed their mind for some time. crypto had gone mainstream as we could see reports already where presidents are talking about it. hopefully the people will see it as hedge.

The fact that Putin believes that bitcoin has a real value, i think its a good sign for bitcoin to be accepted soon in Russia. Maybe it will take some time for Putin to consider bitcoin as a medium of payment but when it happens, its price will eventually continue to surge high. And as the number of countries who are considering bitcoin making it as a medium of exchange keeps increasing, then China will certainly feel fears that such countries will no longer need China for their own progress because bitcoin will make it possible.

China and Russia are not very different country though. once Putin starts accepting BTC, China might also do the same, they know how to adapt since they've been there before.  but its a good thing that countries ruled by dictators may not be able to stop crypto because they can slowly bend to internet money.

now that countries are preferring to accept EUR, they may try starting to accept BTC since EUR is also struggling. the future of fiat money is not looking good. even that Yuan which they thought to be a good fiat because of its economy but China is also facing same problem.