Topic: 77% of Russian investors prefer Bitcoin to Gold and Forex - page 2. (Read 448 times)
That's because it's worth more and they can easily move it out of the country given how low the value of a ruble is. I think the oligarchs want some ticket for themselves as a way out, that's why we see them wanting crypto as an investment.
Gold is old, cash is trash
Fiat, cash only lost value with hyper inflation. Purchasing Power of the US. dollar over time
Gold is not trash but it has less growth than Bitcoin in last 5 years. Gold change in last 5 years is 36.44%, last 20 years is 571.8%. In last 5 years, what is change of Bitcoin? Is it bigger than 36.44%? It is bigger than 571.8%, the 20 years growth of Gold.
Fiat, cash only lost value with hyper inflation. Purchasing Power of the US. dollar over time
Gold is not trash but it has less growth than Bitcoin in last 5 years. Gold change in last 5 years is 36.44%, last 20 years is 571.8%. In last 5 years, what is change of Bitcoin? Is it bigger than 36.44%? It is bigger than 571.8%, the 20 years growth of Gold.
Well, if you can believe the mainstream media and popular websites, Russia should have some of the best hackers in the world... and if many of them are "Black hats" then most of them would be using Bitcoin to hide their stash. (Ransomware and hacking exploits)
Also, if you have a dictator as a President, you also have to keep your wealth moveable... and it is also not easy for a government that are "corrupt" to seize your wealth, if it comes to that. (Gold and shares and Forex can be traced and seized)
Also, if you have a dictator as a President, you also have to keep your wealth moveable... and it is also not easy for a government that are "corrupt" to seize your wealth, if it comes to that. (Gold and shares and Forex can be traced and seized)
That is new learning for me. Considering 77% is huge number in any country at this point. So the day won’t be far from this point where Russia will be 100% in the crypto ventures and the infrastructure will be developed full fledged. May be this will make America to think about the crypto adoption and gain the power in a race of developments. I am saying this from the past experience where America always wanted to be ahead of Russia when there was time to reach the moon and launch the first manned mission. This race and urge to be ahead of that country made America go crazy about space programmes. Let’s be honest this can be true with the crypto adoption too and overall effect? Well rest of the countries get to enjoy the portion of infra because of their developments.
If Bitcoin is so popular, then why its marketcap is only a fraction of gold's marketcap?
Because it is not more popular 
The problem with all of the surveys like this one is that their selection process is severely flawed and they always target a small group that is not representative of the whole population. Consequently the results they get is very misleading. It is like those topics on "bitcointalk" asking if they should buy bitcoin or gold! Obviously 100% of thes answer here will suggest bitcoin but that doesn't mean 100% of people are buying bitcoin.
I am Russian and I can say that it is easier to enter the crypto market than to enter the forex or stock market. As sometimes you just need qualified investor status, sometimes you need to have a minimum amount of money which is also usually a quite big amount to start. Young guys are really in favour of progressive bitcoin. Moreover, I work in the crypto market and haven’t had to pay taxes yet, but with gold and forex there is an opposite situation.
A bit confused when you mention that you don't have to pay taxes. Can you elaborate a bit? As per the law passed by the Duma in July, users of cryptocurrency are required to declare receipts in excess of RUR 600,000. Tax at normal rates need to be paid on any profit arising from trade with cryptocurrencies. There is a penalty of 40%, if the taxes are not paid on time. It may sound a little bit harsh, but I have to say that the government position on cryptocurrency seems to be much more friendlier than the one we have here in India.
I am Russian and I can say that it is easier to enter the crypto market than to enter the forex or stock market. As sometimes you just need qualified investor status, sometimes you need to have a minimum amount of money which is also usually a quite big amount to start. Young guys are really in favour of progressive bitcoin. Moreover, I work in the crypto market and haven’t had to pay taxes yet, but with gold and forex there is an opposite situation.
this is very excited and shocking the Russian government. it is clear that a significant increase occurred at a rapid time, in recent years people have started to switch investments to crypto..
Yeah, they could have been switching to crypto, but the amount of money flowing from gold to crypto is insignificant in my opinion. For one, if gold investors doesn't understands crypto's volatility, then might not switch at all or just testing the waters and putting minimal investments.
The Russian government in power can't do much about this happening phenomenon..
Of course, no one can really stop crypto, unless they put a blanket ban. And even if they do that, still there could be Russians buying underground thru P2P.
this is very excited and shocking the Russian government. it is clear that a significant increase occurred at a rapid time, in recent years people have started to switch investments to crypto..
The Russian government in power can't do much about this happening phenomenon..
No government could really stop when it comes to adoption or recognition of bitcoin or crypto market as a whole but somehow they could impose bans and restrictions specially to those regulated platforms The Russian government in power can't do much about this happening phenomenon..
which would really be a big headache for us crypto users or enthusiast but well it wouldnt really be that enough though to stop us completely and its no surprise that each country would have
that bigger percentage on trusting up bitcoin or crypto investment but it isnt just right that you would totally leave gold and forex behind.If you do have the funds or money
then why wont select them all?
Though am not a Russian but when it comes to reality and technical development I love the country and I wish others too should follow up the trail in support for btc, it surprised me and I feel bad when I hear some countries are yet to support the move for btc adoption, why?... Is it under-development or lack of civilization, here in this article one of the Russian's self regulatory organization called Russian's Association of Currency Brokers made in a statement that the Bitcoin investment is preferred to Gold and forex.
A government supporting a decentralized currency and the majority of the users adopting a decentralized currency are completely different things even in face value.If a country can lead the move in support for crypto, then the young agile populating youths will take the challenge for emulation. Crypto is not a scam, it's a new development launch of digital currency and it's going world wide on acceptability with full operational usage.
The articles talks about individuals who are preferring Bitcoin than forex or gold and it has nothing to with the government doing anything. May be majority are tech savvy and do their research. I know it is a survey result and i do not buy it as a conclusive evidence of anything . 
this is very excited and shocking the Russian government. it is clear that a significant increase occurred at a rapid time, in recent years people have started to switch investments to crypto..
The Russian government in power can't do much about this happening phenomenon..
The Russian government in power can't do much about this happening phenomenon..
If Bitcoin is so popular, then why its marketcap is only a fraction of gold's marketcap? Maybe because gold investors are ready to put large sums into it, while Bitcoin investors only put smaller amounts because of the volatility risks. Or maybe such popularity is only present in Russia and a few other countries while the rest of the world is less enthusiastic about it. Though the US and a few European countries are leaders in node count, so this is probably not the reason.
Here's my theory why they prefer it as an investment. Bitcoin and other cryptocurrencies are a good way to evade your taxes if you invested your money in the right cryptocurrencies, to make my theory a bit credible if it's not, I think the corruption of oligarchs in Russia goes unchecked as Putin don't see anything wrong with that.
As people will come to know about bitcoin, they will sell their gold and investments in forex and buy more bitcoin and crypto.
People already know that there is more return in bitcoins as compare to any other assets.
Only people who don't understand bitcoin choose gold investment.
on bitcoin investment but nothing beats out if you do stick or put some into those natural or traditional investment which is a bit more secure since you can get hold of it even though
value movement isnt really that much or way too far on compared to bitcoin but at least you could have some assurance or security of it.
Here's my theory why they prefer it as an investment. Bitcoin and other cryptocurrencies are a good way to evade your taxes if you invested your money in the right cryptocurrencies, to make my theory a bit credible if it's not, I think the corruption of oligarchs in Russia goes unchecked as Putin don't see anything wrong with that.
As people will come to know about bitcoin, they will sell their gold and investments in forex and buy more bitcoin and crypto.
People already know that there is more return in bitcoins as compare to any other assets.
Only people who don't understand bitcoin choose gold investment.
If the whole world is just like what most of the Russian people would do then the adoption wouldn't be that hard but the problem is that most government doesn't like the idea of having a decentralized asset which is most corrupt official wouldn't like because they can't control and own it just like how they irrationally making fiat out of thin air.
Here's my theory why they prefer it as an investment. Bitcoin and other cryptocurrencies are a good way to evade your taxes if you invested your money in the right cryptocurrencies, to make my theory a bit credible if it's not, I think the corruption of oligarchs in Russia goes unchecked as Putin don't see anything wrong with that.
As people will come to know about bitcoin, they will sell their gold and investments in forex and buy more bitcoin and crypto.
People already know that there is more return in bitcoins as compare to any other assets.
Only people who don't understand bitcoin choose gold investment.
Here's my theory why they prefer it as an investment. Bitcoin and other cryptocurrencies are a good way to evade your taxes if you invested your money in the right cryptocurrencies, to make my theory a bit credible if it's not, I think the corruption of oligarchs in Russia goes unchecked as Putin don't see anything wrong with that.
As people will come to know about bitcoin, they will sell their gold and investments in forex and buy more bitcoin and crypto.
People already know that there is more return in bitcoins as compare to any other assets.
Though am not a Russian but when it comes to reality and technical development I love the country and I wish others too should follow up the trail in support for btc, it surprised me and I feel bad when I hear some countries are yet to support the move for btc adoption, why?
Gold is less volatile than Bitcoin.Forex is too volatile and with same risk from leverage as of crypto market but you can not find transparency with public ledger from any asset that is trading on Forex.
With Bitcoin, you can do many things. Whale alerts, on-chain analysis and more things.
Volatility of price is attractive for traders and investors but one more attractive thing is Bitcoin is safer than Forex. You can check information, news from public ledger and on chain analysis.
exactly +1
Though am not a Russian but when it comes to reality and technical development I love the country and I wish others too should follow up the trail in support for btc, it surprised me and I feel bad when I hear some countries are yet to support the move for btc adoption, why?
Gold is less volatile than Bitcoin.Forex is too volatile and with same risk from leverage as of crypto market but you can not find transparency with public ledger from any asset that is trading on Forex.
With Bitcoin, you can do many things. Whale alerts, on-chain analysis and more things.
Volatility of price is attractive for traders and investors but one more attractive thing is Bitcoin is safer than Forex. You can check information, news from public ledger and on chain analysis.
Russia and Russians are really such an enigma. The country that stopped the Nazi march dead in its track, gave the world the idea of unity of the working class and built some of the most imposing machines and structures in its era, is now looked down upon as an "also ran". One can only wonder what these Vodka guzzling , cold resistant bears would have accomplished, if not for all the lies and secrecy inflicted by the Oligarchs.
When it comes to bitcoin, i think the ability to run your own miners, nodes and actually be part of a decentralized network is something that naturally holds a lot of allure for free-minded men in countries like Russia and China. So, even though Bitcoin's popularity may be because of its usefulness in skirting sanctions, one cannot be sure that there aren't a bunch of real, working class Russians who have a love for Bitcoin and crypto. I mean even at the height of KGB and USSR's power, brave souls still dared to defect to the free world. That too in the absence of secret modes of communication and ease of access. So it shouldn't come as a surprise that quite a few people would prefer Bitcoin over almost everything else, not just gold and forex.
When it comes to bitcoin, i think the ability to run your own miners, nodes and actually be part of a decentralized network is something that naturally holds a lot of allure for free-minded men in countries like Russia and China. So, even though Bitcoin's popularity may be because of its usefulness in skirting sanctions, one cannot be sure that there aren't a bunch of real, working class Russians who have a love for Bitcoin and crypto. I mean even at the height of KGB and USSR's power, brave souls still dared to defect to the free world. That too in the absence of secret modes of communication and ease of access. So it shouldn't come as a surprise that quite a few people would prefer Bitcoin over almost everything else, not just gold and forex.
I am not surprised by these figures. The Russian Ruble has lost 60% of its value in the last 7 years and a lot of the investors don't want to pour their money in to mainstream assets. Those who are able to do so are moving their assets to offshore havens such as Cyprus and London. For those who doesn't have the means to do so, Bitcoin represents an attractive option. The central bank has maintained a tough stance on Bitcoin for sometime. But recently the Duma introduced a law, which made life a little bit easier for the cryptocurrency users.
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