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Author Topic: Russia seems like to adopt bitcoin  (Read 1574 times)
aminorex
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December 28, 2014, 02:16:03 AM
 #1

http://rt.com/news/218019-bill-ban-bitcoin-russia/

It's a major turn by the administration.  The lapdog legislature is unlikely to act in opposition to the administration.

Given the extremis in which the Rouble finds itself these days, I am reminded of the impact of Cyprus bail-ins.

Give a man a fish and he eats for a day.  Give a man a Poisson distribution and he eats at random times independent of one another, at a constant known rate.
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December 28, 2014, 02:36:41 AM
 #2

http://rt.com/news/218019-bill-ban-bitcoin-russia/

It's a major turn by the administration.  The lapdog legislature is unlikely to act in opposition to the administration.

Given the extremis in which the Rouble finds itself these days, I am reminded of the impact of Cyprus bail-ins.


bull FUD, all they're saying is that they won't ban cash equivalants
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December 28, 2014, 02:43:19 AM
 #3

It looks more like somebody caught a drafting problem. The proposed Russian anti-Bitcoin law was so broad it hit business loyalty programs.
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December 28, 2014, 04:09:40 PM
 #4

i have seen some news from indian central bank governor also giving some positive signs for bitcoin
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December 28, 2014, 04:35:15 PM
 #5

It looks more like somebody caught a drafting problem. The proposed Russian anti-Bitcoin law was so broad it hit business loyalty programs.

Nobody seems to know anything for certain yet. Cryptocoinsnews speculates that they might revise the ban's wording to allow gift cards and ban bitcoin.

https://www.cryptocoinsnews.com/russia-reconsidering-bitcoin-ban-2015/

The bill most likely will be revised, but it may just benefit Russian corporations, but still restrict Russians ability to use electronic currency. The ban may just work around gift cards and bonus cards and remain for digital currency.
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December 28, 2014, 04:47:59 PM
 #6

- Nothing in the quotes indicates the criticism of the legislation has anything to do with Bitcoin.

- Russia has a serious currency crisis on their hands, which they've likely expected to result from their Ukraine adventure. They're not likely to do anything to make it easier to transfer funds out of the country or draw value away from the Rouble.

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December 28, 2014, 05:17:19 PM
 #7

It looks more like somebody caught a drafting problem. The proposed Russian anti-Bitcoin law was so broad it hit business loyalty programs.

No somebody is arguing that there is a drafting problem, while nobody else thinks so.
And we aren't even told who that is exactly, just that they work at the Russian Ministry of Economic Development.

The amount of twisting the truth here is mind boggling first RT twists it as that a whole ministry has a problem with it, and then OP as if it's all of Russia.
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December 28, 2014, 05:59:26 PM
 #8

It will probably wind up like China... smoke and mirrors, disorder and disarray when it comes to an official stance and regulation on bitcoin.  People will still use it if they want.

Counterfeit:  made in imitation of something else with intent to deceive:  merriam-webster
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December 28, 2014, 06:53:05 PM
 #9

http://rt.com/news/218019-bill-ban-bitcoin-russia/

It's a major turn by the administration.  The lapdog legislature is unlikely to act in opposition to the administration.

Given the extremis in which the Rouble finds itself these days, I am reminded of the impact of Cyprus bail-ins.


Yes, Russia now looks behind its choice and wants to re-adopt bitcoin. But I don't believe so much that Russia will re-accept bitcoin, a ban is a ban, you can not stay back.
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December 28, 2014, 08:35:41 PM
 #10

i have seen some news from indian central bank governor also giving some positive signs for bitcoin

India is way more important then is Russia.
In Russia there is already high bitcoin awareness, recent issues will just add to it a bit.
India have huge potential and every moves government will make will be huge.

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December 29, 2014, 07:34:46 AM
 #11

If this is not an opinion from Putin, that it is just like nothing
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December 29, 2014, 10:59:03 AM
 #12

Russia seem intent on moving away from the dollar, I don't understand why they have any rules against bitcoin, they could be pioneers in the post USD world.


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December 29, 2014, 11:05:50 AM
 #13

Russia seem intent on moving away from the dollar, I don't understand why they have any rules against bitcoin, they could be pioneers in the post USD world.

They might be frightened that people could use it to move money out of the country.
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December 29, 2014, 11:06:26 AM
 #14

i have seen some news from indian central bank governor also giving some positive signs for bitcoin

India is way more important then is Russia.
In Russia there is already high bitcoin awareness, recent issues will just add to it a bit.
India have huge potential and every moves government will make will be huge.

totally agree with this.

India can be a new China in btc's world too.


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December 29, 2014, 11:06:56 AM
 #15

Russia seem intent on moving away from the dollar, I don't understand why they have any rules against bitcoin, they could be pioneers in the post USD world.

Then where are they moving into? Gold? Oil? They are clearly not moving into Bitcoin.

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December 29, 2014, 02:33:48 PM
 #16

Russia seem intent on moving away from the dollar, I don't understand why they have any rules against bitcoin, they could be pioneers in the post USD world.

Since the Soviet days, the Russian people have loved the dollar.  Holding USD wasn't legal back then, but the elite were allowed to convert USD & other hard currencies into scrip called "voluta," with which one could buy pretty much anything in special valuta stores like "Berezka."

If you mean "why does the Russian government make laws against Bitcoin," the answer is for the same reason it makes laws against counterfeit ruble:  It competes with the ruble, it debases the ruble, its creation and issuance can not be controlled by the central bank.
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December 29, 2014, 09:09:47 PM
 #17

Russia, India, ...
At end only China will stay with CYN.

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December 31, 2014, 04:45:48 AM
 #18

Well russia is like the kardashians of bitcoin community.

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December 31, 2014, 04:45:12 PM
 #19

If this is not an opinion from Putin, that it is just like nothing

Few if any from the ministry would we willing to give the opinion voice, were it not an opinion from Putin.

Give a man a fish and he eats for a day.  Give a man a Poisson distribution and he eats at random times independent of one another, at a constant known rate.
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