Topic: A 7-Yr Prison Term for Bitcoin Use, Says Russian Finance Ministry (Read 3195 times)
That's a rough punishment, I guess this at least till us Russia degree of anti-BTC they are using, not simply not supporting it but giving people this kind of punishment for using it in Russia..
March 17, 2016, 12:31:21 PM
I think this is not fair, There currency is priced by the government mostly and they are trying to avoid it losing value but sending your citizens to jail for just holding a currency is not fair IMO.
March 16, 2016, 01:36:48 PM
That's excessive in every possible way I think, 7 Years for trading bitcoin is one of the most ridiculous punishments overall and primarily punishing the people for something that shouldn't be illegal...
March 16, 2016, 12:58:30 PM
Why are people surprised at this? Just look at the way the ruble has fallen - it has sparked a capital flight as people try to get their money into something safer before the ruble falls even further. Bitcoin is one method of getting money out, so they're clamping down on it.
BTW, this is nothing compared to what China will do if the yuan goes into freefall.
BTW, this is nothing compared to what China will do if the yuan goes into freefall.
Surprised because it's 7 years prison for using BTC. But on the other side, how they will find people who using btc? It's so unreal to do. haha
You know those stickies "Bitcoin accepted here"? And Bitcoin payment option on websites? Those are all cl00s!
BTW, how did they nail DPR again?
March 16, 2016, 12:38:43 PM
Why are people surprised at this? Just look at the way the ruble has fallen - it has sparked a capital flight as people try to get their money into something safer before the ruble falls even further. Bitcoin is one method of getting money out, so they're clamping down on it.
BTW, this is nothing compared to what China will do if the yuan goes into freefall.
BTW, this is nothing compared to what China will do if the yuan goes into freefall.
Surprised because it's 7 years prison for using BTC. But on the other side, how they will find people who using btc? It's so unreal to do. haha
March 16, 2016, 11:10:16 AM
Why are people surprised at this? Just look at the way the ruble has fallen - it has sparked a capital flight as people try to get their money into something safer before the ruble falls even further. Bitcoin is one method of getting money out, so they're clamping down on it.
BTW, this is nothing compared to what China will do if the yuan goes into freefall.
BTW, this is nothing compared to what China will do if the yuan goes into freefall.
March 16, 2016, 05:11:45 AM
This is completely stupid! How can this be possible. I don't think this will become a reality, or at least I do hope it does not.
Anyone has confirmation that this will be actually happening?
Anyone has confirmation that this will be actually happening?
There is no proof or confirmation, only ministry has revealed such a statement. In reality it won't come true.
March 16, 2016, 05:06:41 AM
There is unfair beyond belief, They are actually thinking of locking someone in a jail for nothing exactly, but holding there bitcoins or getting them. Everyone should invest in the currency they like IMO.
March 15, 2016, 11:06:48 AM
thats definitely not a good thing for bitcoin as in this way less people will use it what means there will be less adoption and the price will be lower
i hope this bitcoin ban will be removed and people will be given a chance to use bitcoins freely as any other real currency
I also hope that the ban is removed. All those people will pretty much have their Bitcoin rendered useless. The Russians really need to do something about this.i hope this bitcoin ban will be removed and people will be given a chance to use bitcoins freely as any other real currency
what?!!!
how does that make their bitcoin useless?
it is bitcoin and still have value against any currency (dollar, euro,...) even if the news is not FUD, they can easily exchange bitcoin to USD for example and change USD to their fiat
Well, this creates a few issues. First, people will be less likely to use bitcoins if they are hard to acquire and there are legal penalties associated with it. No one wants to get into trouble, especially in Russia. Second, even if people did want to exchange their bitcoin, where would people do it? I am sure exchanges and other platforms to sell bitcoins will be taken offline. It will be really hard to get someone to purchase bitcoins if they realize that sure they hold some value, but how are you going to tap it? You would also certainly have to leave the country if you want those bitcoins in your possession to be exchanged.
March 15, 2016, 10:55:33 AM
thats definitely not a good thing for bitcoin as in this way less people will use it what means there will be less adoption and the price will be lower
i hope this bitcoin ban will be removed and people will be given a chance to use bitcoins freely as any other real currency
I also hope that the ban is removed. All those people will pretty much have their Bitcoin rendered useless. The Russians really need to do something about this.i hope this bitcoin ban will be removed and people will be given a chance to use bitcoins freely as any other real currency
what?!!!
how does that make their bitcoin useless?
it is bitcoin and still have value against any currency (dollar, euro,...) even if the news is not FUD, they can easily exchange bitcoin to USD for example and change USD to their fiat
March 15, 2016, 10:01:37 AM
An extremely large and unfair judgment, If it's related to doing illegal things using bitcoin then it would be like any other system but banning the coin itself is stupid, Russian government are afraid of anything that shows their currency's real price.
It's similar to banning handguns. Most people who have handguns don't use them to commit crimez, they just like guns. And of course they're trying to protect their currency -- that's their job.
March 15, 2016, 08:36:10 AM
I think this news will be mostly scare tactics by the Russian government to deter their citizens from using Bitcoin. I don't see them busting doors down to arrest everyone breaking the rules.
March 15, 2016, 08:34:13 AM
An extremely large and unfair judgment, If it's related to doing illegal things using bitcoin then it would be like any other system but banning the coin itself is stupid, Russian government are afraid of anything that shows their currency's real price.
March 14, 2016, 03:58:35 PM
I hate speculating on anything going on in Russia due to totally not understanding the Russian thinking. This to me looks like a attempt to control a way of moving funds in and out of Russia without being tracked.
Russian thinking, in this case, is very cynical & pragmatic. The West plays around with regulating Bitcoin in ways which leave absolutely no hint of impropriety, surgically targeting pockets of criminality. Sort of like securing your server with "allow: all; deny: x, y, z."
Russia can afford to bypass the dog & pony show of appeasing the "muh freedoms!" brigade, look at Bitcoin's userbase, note that it's mainly criminal, and ban it.
Old joke: NASA spent millions of dollars developing an 'astronaut pen' that would work in outer space. The Russians used a pencil.
March 14, 2016, 03:38:08 PM
This is completely stupid! How can this be possible. I don't think this will become a reality, or at least I do hope it does not.
Anyone has confirmation that this will be actually happening?
Anyone has confirmation that this will be actually happening?
March 14, 2016, 03:26:36 PM
I hate speculating on anything going on in Russia due to totally not understanding the Russian thinking. This to me looks like a attempt to control a way of moving funds in and out of Russia without being tracked.
March 12, 2016, 05:36:33 PM
thats definitely not a good thing for bitcoin as in this way less people will use it what means there will be less adoption and the price will be lower
i hope this bitcoin ban will be removed and people will be given a chance to use bitcoins freely as any other real currency
I also hope that the ban is removed. All those people will pretty much have their Bitcoin rendered useless. The Russians really need to do something about this. i hope this bitcoin ban will be removed and people will be given a chance to use bitcoins freely as any other real currency
March 12, 2016, 02:54:40 PM
it's not even feasible, if you think about it
what if one day russia citizen begin to use bitccoin en mass, they will end up all arrested? don't make me laugh
it's like arresting everyone because he/she is using his/her computer
what if one day russia citizen begin to use bitccoin en mass, they will end up all arrested? don't make me laugh
it's like arresting everyone because he/she is using his/her computer
What if one day Russian citizens begin to shoot Drano & rape their children en masse? Don't make me laugh.
well my "if" make much more sense actually, because you know, using bitcoin require only 1 device that is connected to internet ...
1 device connected to the internet and ...bitcoins. Which non-criminals neither have, nor have access to.
Drano and children, otoh, are within everyone's easy reach.
So if everyone in Russia suddenly decided to become a crazed criminal, the scenario I've described seems much more plausible.
P.S. Here, a long-time Bitcoin enthusiast describes how he buys/sells BTC in a country where Bitcoin is legal.
I'd humbly like to add that this more resembles opsec for moving serious weight,not a monetary transaction a non-criminal is likely to make:
snip
Yah, Mom, you should totally try Bitcoin. It's totally not for criminals and 100% legit, you'll be fine.
you really believe that they can not use an exchange with a simple vps/vpn or proxy or whatever and receive bitcoin on anonymous debit/credit card?
also bitcoin can be mined with gpu indirectly via altcoin(ethereum and a bunch of other are utterly profitable, 0.01 minimum per card each day), good luck to the government stopping someone from mining with a gpu, i repeat don't make me laugh
no matter how many restrictions there are, there is always a way to disrupt it
Sure, if someone is absolutely set on getting BTC, they'll get it. Just like they get krokodil & child porn.
Of course, there'd be no point in it, because after jumping through all those hoops & spending shitloads of money, our crypto rebel would only be able to buy CP/score overpriced drugs on DNMs. No legal businesses would accept BTC, because illegal.
But if what you're saying is "everyone in Russia might turn criminally insane & use Bitcoin, even though it makes no fucking sense whatsoever," I guess I got nothing.
March 12, 2016, 02:35:21 PM
thats definitely not a good thing for bitcoin as in this way less people will use it what means there will be less adoption and the price will be lower
i hope this bitcoin ban will be removed and people will be given a chance to use bitcoins freely as any other real currency
i hope this bitcoin ban will be removed and people will be given a chance to use bitcoins freely as any other real currency
March 12, 2016, 02:33:34 PM
if they really want to ban bitcoin, it shows how scared and weak they are and how real and strong Bitcoin is.
Not just that, but this is the limit of how far they can go stopping people to use such a thing which they can't have their hands-on...
This is freaking crazy how people are stopping people to use people's money...
Russia has been dabbling with bitcoin for a while, but keep in mind this is only the finance minister, and such a comment is expected of him.
Not at all surprising, but more as a criticism towards something they can't have their hold on...
They just don't want anyone to be freely able to manage their own finances, which is why they are trying their best to do whatever it takes to stop everyone using Bitcoins and use their own local currency...
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