If Russia goes full Bitcoin adoption

[Silberman]

This will create conflict and might affect negatively to the whole crypto community because if Russia will totally use bitcoin on their financial system USA might include this on their sanction list to crumpled again Russias economy and for sure all of us bitcoin user will get affected on this if they implement that. Hopefully this will never happen since this is really bad to us if sanction towards bitcoin will happen.

Without a doubt something like this would be incredibly problematic for bitcoin, however it is not as simple either as the institutional investors that are coming to this market have great influence on the American government and a movement like that would affect them, so even if at some point the US tried to ban bitcoin or something like that they will need to give time to those institutional investors to get out of their positions, something which could take years as some of them have invested a complete fortune in bitcoin.

[tygeade]

Without a doubt something like this would be incredibly problematic for bitcoin, however it is not as simple either as the institutional investors that are coming to this market have great influence on the American government and a movement like that would affect them, so even if at some point the US tried to ban bitcoin or something like that they will need to give time to those institutional investors to get out of their positions, something which could take years as some of them have invested a complete fortune in bitcoin.

I do not think that it would take years before it happens, surely it wouldn't be overnight but it could happen in a year or two as well. This is the same banks that we talk about that got out of 2008 basically unharmed, sure a bit of harmed in short term but unharmed in the long term. They wouldn't care about retail investors anyway.

However, we need to realize that that would require federal law and I doubt they would have that, a banned crypto federal law doesn't sound realistic, there are companies now all over the nation working in the crypto world, meaning they actually spent a quite bit of money and paying good taxes, doubt they would change that.

[DU18]

This will create conflict and might affect negatively to the whole crypto community because if Russia will totally use bitcoin on their financial system USA might include this on their sanction list to crumpled again Russias economy and for sure all of us bitcoin user will get affected on this if they implement that. Hopefully this will never happen since this is really bad to us if sanction towards bitcoin will happen.

I think we are too negative thingking if Russia implements bitcoin in their financial system, in my opinion this step will further trigger the development of bitcoin for the better, besides maybe the adoption of bitcoin by Russia will trigger a significant price increase like what happened when El Salvador legalized bitcoin at that time, if it is the problem of American sanctions that you are afraid of, isn't Russia now under European sanctions?
In fact, if Russia legalizes bitcoin, it is a form of resistance to european sanctions in my opinion and the Russian economy will be able to bounce back if they accept bitcoin payments in their current export or import transactions.

[BuNga_cute]

This will create conflict and might affect negatively to the whole crypto community because if Russia will totally use bitcoin on their financial system USA might include this on their sanction list to crumpled again Russias economy and for sure all of us bitcoin user will get affected on this if they implement that. Hopefully this will never happen since this is really bad to us if sanction towards bitcoin will happen.

I think we are too negative thingking if Russia implements bitcoin in their financial system, in my opinion this step will further trigger the development of bitcoin for the better, besides maybe the adoption of bitcoin by Russia will trigger a significant price increase like what happened when El Salvador legalized bitcoin at that time, if it is the problem of American sanctions that you are afraid of, isn't Russia now under European sanctions?
In fact, if Russia legalizes bitcoin, it is a form of resistance to european sanctions in my opinion and the Russian economy will be able to bounce back if they accept bitcoin payments in their current export or import transactions.

I don't think the United States would go so far as to sanction Bitcoin users. Because the American government is also aware that Bitcoin is
also widely used for positive things, such as several charities accepting Bitcoin donations to help victims of the war in Ukraine. So we don't
have to worry too much if it turns out that Russia legalizes Bitcoin for their financial transactions, because America will not necessarily act
decisively against Bitcoin users. Even according to the American government Bitcoin is widely used for illegal activities, but until now America
has not banned Bitcoin. In fact, I think the impact will make the price of Bitcoin go up if Russia really adopts Bitcoin, just like what El Salvador did.
So I'm not afraid of bad impact on Bitcoin, if true it turns out that Russia is planning to adopt Bitcoin.

[jostorres]

Without a doubt something like this would be incredibly problematic for bitcoin, however it is not as simple either as the institutional investors that are coming to this market have great influence on the American government and a movement like that would affect them, so even if at some point the US tried to ban bitcoin or something like that they will need to give time to those institutional investors to get out of their positions, something which could take years as some of them have invested a complete fortune in bitcoin.

How can they sanction bitcoin? It's not like banks that have a central authority where they can ask to negotiate with them. If they want to, they can talk to all the bitcoin users to stop supporting bitcoin only for the sake of Russia but that will be impossible since all btc users are benefiting with bitcoin.

I think the only thing that they can do is ask centralized entities to block transactions that are coming from Russia. This can affect the price but it is fine because the price can still recover soon especially if the sanctions are over and they will allow Russian citizens again to use bitcoin but why will it take years for institutional investors to get out if they want to? they can just sell all that they got. Big exchanges can handle it easily or they can use multiple exchanges at the same time.

[Dhaniii]

Without a doubt something like this would be incredibly problematic for bitcoin, however it is not as simple either as the institutional investors that are coming to this market have great influence on the American government and a movement like that would affect them, so even if at some point the US tried to ban bitcoin or something like that they will need to give time to those institutional investors to get out of their positions, something which could take years as some of them have invested a complete fortune in bitcoin.

How can they sanction bitcoin? It's not like banks that have a central authority where they can ask to negotiate with them. If they want to, they can talk to all the bitcoin users to stop supporting bitcoin only for the sake of Russia but that will be impossible since all btc users are benefiting with bitcoin.

I think the only thing that they can do is ask centralized entities to block transactions that are coming from Russia. This can affect the price but it is fine because the price can still recover soon especially if the sanctions are over and they will allow Russian citizens again to use bitcoin but why will it take years for institutional investors to get out if they want to? they can just sell all that they got. Big exchanges can handle it easily or they can use multiple exchanges at the same time.

bitcoin does not belong to one country so another country can impose sanctions on one country. I think Russia can adopt bitcoin as much as possible without thinking about sanctions from Europe and America. each country has its own legality for local currency, while bitcoin does not have state legality but bitcoin stands alone so anyone can adopt it as long as the country does not prohibit the use of bitcoin in that country.

[jostorres]

bitcoin does not belong to one country so another country can impose sanctions on one country. I think Russia can adopt bitcoin as much as possible without thinking about sanctions from Europe and America. each country has its own legality for local currency, while bitcoin does not have state legality but bitcoin stands alone so anyone can adopt it as long as the country does not prohibit the use of bitcoin in that country.

Russia said that they will not break sanctions via crypto but do you really believe them? I mean this is the nation attacking another nation with the hopes of taking some pieces of land from that nation in 2022, if they are as crazy enough to try to do something like that and cause death and destruction, then how could we really say that we could trust them to not break sanctions with it.

Bitcoin will continue to grow bigger because right now we are not talking about just retail investors like you and me, we are not even talking about big companies accepting bitcoin or investing into it. We are now talking about whole nations starting to use it.

[bubidan.id]

In my opinion, in this case, I think it will have a boomerang effect for the EU and the US. They should also think about that, because if Russia took all the bitcoins, it would definitely be bad for them.

[macson]

In my opinion, this could throw BTC in a black hole, as US and Europe would be forced to ban or regulate it to death. (Quickly)

i don't even think bitcoin will fall into a black hole if Russia fully adopts bitcoin and makes it legal tender like el Salvador.  Currently, it is not only Russia that is trying to take advantage of Bitcoin, but countries such as the US and Europe are also competing to take advantage of Bitcoin.  Bitcoin can no longer be destroyed, Bitcoin will be the safest place for countries that receive financial sanctions from international countries.

[bocyaj]

In my opinion, this could throw BTC in a black hole, as US and Europe would be forced to ban or regulate it to death. (Quickly)

i don't even think bitcoin will fall into a black hole if Russia fully adopts bitcoin and makes it legal tender like el Salvador.  Currently, it is not only Russia that is trying to take advantage of Bitcoin, but countries such as the US and Europe are also competing to take advantage of Bitcoin.  Bitcoin can no longer be destroyed, Bitcoin will be the safest place for countries that receive financial sanctions from international countries.

Bitcoin adoption will gives positive impacts to the bitcoin.Meanwhile Russian will do research about the bitcoin for sure.If they do adoption of the coin,it leads to the new investors from the Russia.In Russia,huge people had enough high money,So if bitcoin get the new adoption and huge investment from Russian.Surely we able to get the high value of bitcoin in short run.

[Wong Gendheng]

Of course this is a big thing that will make the price of bitcoin skyrocket significantly, as we know that Russia is a country that has strong economic power so that if the government fully adopts bitcoin, it can certainly make the number of users increase drastically.

[alisonwonder]

i don't even think bitcoin will fall into a black hole if Russia fully adopts bitcoin and makes it legal tender like el Salvador.  Currently, it is not only Russia that is trying to take advantage of Bitcoin, but countries such as the US and Europe are also competing to take advantage of Bitcoin.  Bitcoin can no longer be destroyed, Bitcoin will be the safest place for countries that receive financial sanctions from international countries.

In the end, all countries have realized the benefits of Bitcoin, even though Bitcoin got more attention after the wars in Russia and Ukraine, but honestly we don't want that war to happen. Bitcoin adoption in Russia is increasing because it avoids financial sanctions from European countries, if adoption continues to grow, it is certain that the Bitcoin bullish moment will be getting closer.

[romero121]

Once after the war we've seen a large number of individuals and companies investing into cryptocurrency. Russia and Ukraine were using it as an alternate to their traditional form of financial system. Russia going full on bitcoin is temporary in my view, because once things settled down we'll think of moving down on the track. By the time once again bitcoin will get importance as investment and people move towards traditional fiat for regular needs.

[Slow death]

Of course this is a big thing that will make the price of bitcoin skyrocket significantly, as we know that Russia is a country that has strong economic power so that if the government fully adopts bitcoin, it can certainly make the number of users increase drastically.

we also know that russia has a dark political regime, the government loves their currency and hates bitcoin, so they will not adopt bitcoin, they have support from china if they need it, they are very proud of their currency and i have already said that so many times that they won't replace their currency with bitcoin. people need to start to understand that bitcoin is something decentralized and that it has an anonymous creator, political regimes like russia, china and others don't like anonymous and decentralized things, because it threatens their political system

Once after the war we've seen a large number of individuals and companies investing into cryptocurrency. Russia and Ukraine were using it as an alternate to their traditional form of financial system. Russia going full on bitcoin is temporary in my view, because once things settled down we'll think of moving down on the track. By the time once again bitcoin will get importance as investment and people move towards traditional fiat for regular needs.

i just heard that ukraine accepts bitcoin donations, but i didn't hear anything about russian government using bitcoin, where did you see that russian government is using bitcoin?

[Dhaniii]

Once after the war we've seen a large number of individuals and companies investing into cryptocurrency. Russia and Ukraine were using it as an alternate to their traditional form of financial system. Russia going full on bitcoin is temporary in my view, because once things settled down we'll think of moving down on the track. By the time once again bitcoin will get importance as investment and people move towards traditional fiat for regular needs.

bitcoin has an extraordinary safe point even in a state of war but bitcoin can not be blocked by any country, they can only refuse not to use bitcoin as a medium of exchange. I think Russia will adopt bitcoin because when that country starts to attack then they can store any number of assets with bitcoin and there will be no inflation of the assets held.

[Epaper]

I think Russia will legalize the use of bitcoin as a legal tender. In the midst of the situation of the invasion of Ukraine, Russia may need another payment model that is not affected by political turmoil. If Russia really will fully adopt bitcoin, then it opens up opportunities for people who want to get out of the gray zone. On the other hand, it also has the potential to attract new investors which seems to be getting higher.

[darewaller]

I think Russia will legalize the use of bitcoin as a legal tender. In the midst of the situation of the invasion of Ukraine, Russia may need another payment model that is not affected by political turmoil. If Russia really will fully adopt bitcoin, then it opens up opportunities for people who want to get out of the gray zone. On the other hand, it also has the potential to attract new investors which seems to be getting higher.

Legal tender seems like a too big of a step for the time being, especially during a war time like this. I believe that there is a good chance we could end up with bitcoin becoming some sort of lax regulated legal thing and people could deal with crypto without any problem at all.

But, at the same time legal tender is just way too much, that would be like letting it be a foreign currency and even closer to home than that. Which is why I doubt that it would happen, I believe that it will not happen and something lesser but still allowed will be the case. Russia needs people to move money out of their nation, especially foreign money like dollars, and bitcoin would help with that.

[Vaskiy]

Whether it is legalised or not, people will continue to use it. War have made it even popular and both the countries involved in the war benefitted out of cryptocurrency. This has gradually made bitcoin to be legal in Ukraine and under regulated assets in Russia. Moreover when the war ends, we'll come to know the real thoughts of the government. Today Russia have made a statement that they never mind of the extending the NATO adding Sweden. So, it looks like soon the war comes to an end.

[mattujusuruga]

I think if Russia really legalizes bitcoin in its country then the existence of bitcoin investors and miners in Russia can breathe a little easier. However, even though Russia legalized bitcoin, it is still under strict supervision from the Russian government authorities.

[BITCOIN4X]

I think if Russia really legalizes bitcoin in its country then the existence of bitcoin investors and miners in Russia can breathe a little easier. However, even though Russia legalized bitcoin, it is still under strict supervision from the Russian government authorities.

You can't expect the government to lose control over bitcoin users if they legalize it. Look what the government of El Salvador is doing now with its legality and it might happen in other countries if it really wants to legalize bitcoin. It is completely unreasonable to think that the government does not want to control the finances of its people especially because they also do not want bitcoin users to misuse bitcoins for illegal activities like money laundering and so on.

It's interesting why this legality issue arose when they invaded Ukraine, when previously they didn't want to legalize bitcoin. Is there any political influence?