Some bad news for a change: Russia's total ban on bitcoin

[piramida]

Well, seeing as good news have negative impact on the price, here's some bad news:

Completely crazy regulators in Russia have proposed a law that would make any operations with cryptocurrencies illegal, with fines of 1000 euro for citizens and 2000 euro for organizations. Also, creating software for cryptocurrencies or distributing any information that could lead to creation of cryptocurrencies will be outlawed.

Source article in russian (law is not passed yet, but knowing that puppets vote for laws in Russia, it will be): http://lenta.ru/news/2014/10/03/bitcoins/

to the moon?

[frienemy]

I contribute with a bad dream, actually my first one about bitcoin:

Last night I dreamt that price is going to crash to 50-60 USD, then recovering to 138, then crashing to 28 USD. My dreams generally don't come true, otherwise would already have experienced 2 apocalypses, starting in my home village. Therefore the bottom MUST be in.

[Dalmar]

They are clearly afraid that Ruskies will panic dump their rubles for BTC. The Ruble has been the worst performing major fiat currency this year.

[piramida]

They are clearly afraid that Ruskies will panic dump their rubles for BTC. The Ruble has been the worst performing major fiat currency this year.

yes and with incoming country encapsulation in a North Korea form, there's no bottom for rouble's downfall. I don't think banning bitcoin will stop that much only if they add serious prison terms to owning bitcoin, dollar, gold, or anything but rubles and dirt, as was the case in Soviet Union

[Asrael999]

Was a bit of confusion in Russia news a day or so ago
First of all they announced they were considering capital controls
Then they announced they definitely weren't considering capital controls

So first make cryptocurrencies illegal - then introduce capital controls?

[wachtwoord]

Well, seeing as good news have negative impact on the price, here's some bad news:

Completely crazy regulators in Russia have proposed a law that would make any operations with cryptocurrencies illegal, with fines of 1000 euro for citizens and 2000 euro for organizations. Also, creating software for cryptocurrencies or distributing any information that could lead to creation of cryptocurrencies will be outlawed.

Source article in russian (law is not passed yet, but knowing that puppets vote for laws in Russia, it will be): http://lenta.ru/news/2014/10/03/bitcoins/

to the moon?

A Russian law but fines are in Euros and not in Rubles?

[piramida]

Well, seeing as good news have negative impact on the price, here's some bad news:

Completely crazy regulators in Russia have proposed a law that would make any operations with cryptocurrencies illegal, with fines of 1000 euro for citizens and 2000 euro for organizations. Also, creating software for cryptocurrencies or distributing any information that could lead to creation of cryptocurrencies will be outlawed.

Source article in russian (law is not passed yet, but knowing that puppets vote for laws in Russia, it will be): http://lenta.ru/news/2014/10/03/bitcoins/

to the moon?

A Russian law but fines are in Euros and not in Rubles?

50000 and 100000 roubles will not say much to people

[wachtwoord]

Well, seeing as good news have negative impact on the price, here's some bad news:

Completely crazy regulators in Russia have proposed a law that would make any operations with cryptocurrencies illegal, with fines of 1000 euro for citizens and 2000 euro for organizations. Also, creating software for cryptocurrencies or distributing any information that could lead to creation of cryptocurrencies will be outlawed.

Source article in russian (law is not passed yet, but knowing that puppets vote for laws in Russia, it will be): http://lenta.ru/news/2014/10/03/bitcoins/

to the moon?

A Russian law but fines are in Euros and not in Rubles?

50000 and 100000 roubles will not say much to people

Okay that makes the article more believable. Then I could have commented: a well, Ruble is not doing too well lately anyway https://finance.yahoo.com/q/bc?s=RUB%3DX+Basic+Chart&t=5y . As the Ruble devalues the advantage of Bitcoin increases as even the fine banning it loses value

[zeroday]

No surprise. Russia is now rolling back to Soviet Union times. Any freedom will be suppressed. They don't need decentralized cryptocurrency for people who soon will be living under the iron curtain.

But since the Russians don't give a shit about law and love to break rules, bitcoin will gain even more popularity, so, I'd say it's bullish news.

Russia is now going to block any ways to send/receive money abroad and bitcoin may become the easiest "illegal" way doing so as It's much safer than crossing border with $10k in your ass.

[piramida]

It's much safer than crossing border with $10k in your ass.

Reminded me of: http://en.rocketnews24.com/2013/07/23/nine-taiwanese-accused-of-smuggling-60-75kg-of-gold-in-their-anuses/

I'm sure when these smugglers learned about Bitcoin they were like "fuck, really?"

[findftp]

Well, seeing as good news have negative impact on the price, here's some bad news:

Completely crazy regulators in Russia have proposed a law that would make any operations with cryptocurrencies illegal, with fines of 1000 euro for citizens and 2000 euro for organizations. Also, creating software for cryptocurrencies or distributing any information that could lead to creation of cryptocurrencies will be outlawed.

Source article in russian (law is not passed yet, but knowing that puppets vote for laws in Russia, it will be): http://lenta.ru/news/2014/10/03/bitcoins/

to the moon?

To the moon and beyond.
We will prove that bitcoin works without rules.
It's crazy to ban math.

[djokica]

No surprise. Russia is now rolling back to Soviet Union times. Any freedom will be suppressed. They don't need decentralized cryptocurrency for people who soon will be living under the iron curtain.

Do you think that this will resolve for bigger price change in any crypto.
If so this is big real big.

[bajlox]

To the moon and beyond.
We will prove that bitcoin works without rules.
It's crazy to ban math.

It always to the moon.
All coins work without rules not just BTC.
BTC will stay prime for very long time other try to profit on price change.

[Elwar]

Bad news, if a country has a war on Bitcoin it will probably eliminate it as well as the war on drugs has.

[azguard]

Was a bit of confusion in Russia news a day or so ago
First of all they announced they were considering capital controls
Then they announced they definitely weren't considering capital controls

So first make cryptocurrencies illegal - then introduce capital controls?

They even considering banning internet a few month ago.
If Russian is asking and i hope not this is not gonna be good.

It will end up for us badly no money no profit no nothing.

[findftp]

Maybe it sounds stupid, but the more I think of it, the more I like the Russian ban.
The only problem is that I can't really believe it. It looks like a serious source though.
Either way, if they approve the law, they are fucked.
If they deny the law, they basically capitulate to bitcoin.

Moon moon moon.

[blatchcorn]

Bad news for Russians, not Bitcoin

[Elwar]

This only gives the rest of the world more power in the future over Russia.

[NotLambchop]

Bad news for Russians, not Bitcoin

Don't need Russia.
Don't need China.
More cheap Bitcoin for us!

[mikenz]

is that old crap sold as new FUD? as far as I know Russia is considering use of Crypto as criminal offense (violation of anti money laundering law) since last year already.

But since the Russians don't give a shit about US law and love to break US rules, bitcoin will gain even more popularity, so, I'd say it's bullish news.

FTFY