Russian head of the committee on Energy about selling oil and gas in Bitcoin

[Easteregg69]

I am good for discussing this one since I have an opinion.

And I had a forum back in the days. Cheers.

I am on oil here. Paid acconto in fiat. No oligacy. "Acconto" is when you pay an estimate price.

[Gyfts]

This story seems to have gone no where. Haven't heard any updates nor any reports that they followed through with this idea of selling energy for Bitcoin -- it wouldn't make any sense to begin with.

If they wanted to prop up rubles, they would do what they threatened earlier which is demand payment in rubles and force countries to use Russian currency. Bitcoin doesn't prop up Russian currency, it weakens it.

[lixer]

Good news
Russia open to the use of bitcoin and crypto for international payments - Senior Central Bank official

It will certainly benefit Russian economy  if they accept Bitcoin because they are feeling the impact of hard sanctions but their main partner is China and crypto currencies are banned there so how will it work out. The 2nd issue is volatility of Bitcoin price which is a main hurdle in my opinion to use Bitcoin as method of payment and won't be easy to manage.

It was the the high fees and the slow moving transaction is the main reason why some doubts to use or accept btc as a payment method though volatility could come next to it. So, russian country change their minds again and accepts btc and crypto this time? That's noise. This was already on their plan before but they didn't continued it and demand Russian ruble instead for other countries if they want to purchase oils and gas.

China have banned and unabanned cryptos but we are not sure maybe they now unabanned it again? But, if not then they can still use other forms of payment methods. Russia is their ally so they can accept almost anything.

[pooya87]

It was the the high fees and the slow moving transaction is the main reason why some doubts to use or accept btc as a payment method though volatility could come next to it.

Just think about what you just said here for a little while.

We are talking about million dollar payments not $1 ones and bitcoin transaction fees on average have been very low at 1 sat/vbyte for a long time. Even if they went up to $100 it still would be cheaper than any alternative method of payment out there!

Secondly if you compare the settlement time in bitcoin (10 minutes on average) with other payment methods (weeks to months) you can realize how calling bitcoin "slow" is silly!