Topic: Banning Bitcoin is Like Banning the Internet, Says Russia’s Finance Minister - page 2. (Read 862 times)
March 07, 2022, 08:51:27 AM
Stopping the development of crypto in a country is certainly impossible, in my opinion, rather than banning or stopping crypto, it is certainly better for a country to regulate and implement clear regulations about crypto so that they can get the benefits, the development of an increasingly modern era of course makes people tend to think critically and want easy things in their lives, including ease of transactions and investments, and so far we have seen if crypto proven offers these two conveniences to its users, and obviously it will be difficult for a country to ban or shut down crypto which has been used illegally and legally in a country including Russia so far.
March 07, 2022, 08:23:17 AM
As you know and what the Russian Minister said, I agree with what he said, it means this: the internet can't be touched, it's shapeless, but the internet can be enjoyed and used by many people.
Bitcoin has almost the same properties as the internet, the Russian minister is right, if you can touch the internet you can touch bitcoin, in fact you can't.
So, not a few countries or certain parties want to ban Bitcoin, in fact it's all in vain, they realize they can't do anything about Bitcoin, many countries are not illegal and not legal Bitcoin, let it run like time goes round and round, that's what many countries do.
Bitcoin has almost the same properties as the internet, the Russian minister is right, if you can touch the internet you can touch bitcoin, in fact you can't.
So, not a few countries or certain parties want to ban Bitcoin, in fact it's all in vain, they realize they can't do anything about Bitcoin, many countries are not illegal and not legal Bitcoin, let it run like time goes round and round, that's what many countries do.
March 07, 2022, 07:26:30 AM
Contradictory information has been coming from Russia lately, because it is clear that the Central Bank and the minister have conflicting views. I hope that in the short term the Minister's vision will prevail, as he is the one who understands what this is all about. However, even if the Central Bank's vision were to prevail now, in the long term that vision cannot be sustained.
I cannot agree more. Way back, many countries and many attempts they have failed to ban the Internet. It kept prospering beyond their control which resulted for it to become well-known and used all around the world. Despite their tries to contain it, they didn't manage because that's how powerful Internet was and currently is. Just like how bitcoin is. No matter how hard they try to regulate and eliminate it, they won't be able to do it, since it has so many patronage and banning it would just cost them and not the other way around. Surely, people would keep on finding ways on how to utilize it if they would outrught ban it. And I really doubt they would because that could pose a loss for them as well. Maybe they could attempt to regulate it in accordance to law and their liking, but the way it would work, most particularly the dynamics would definitely won't be altered.
March 07, 2022, 06:29:04 AM
It's coffee money. Just like PayPal. Visa and master. It goes nowhere without full appreciation in all instances.
Play money.
Forgot! What's the agenda?
Play money.
Forgot! What's the agenda?
March 07, 2022, 12:58:57 AM
The Internet has brought us convenience, and so has cryptocurrencies. The internet is like cryptocurrencies, and no country can completely ban both. These leaders of the country want to control the masses completely. People are not free.
March 07, 2022, 12:14:04 AM
The debates will likely be ended up positive and it favors Bitcoin adoption than banning it. I see no reason why Russia will close a deal over Bitcoin as they know, the Presidents knows what seems best for their citizen, it was the internet that gives life now and this Bitcoin gives more.
If they are into concern about economic improvement, the existence of Bitcoin and cryptocurrencies have more to add. We can see a lot of people change their lives after investing in Bitcoin and that could prove the value of Bitcoin today and in the future.
Indeed, they are now accepting Bitcoin. It certainly change their minds knowing the fact that Bitcoin is not a threat to the economy but it was a helping tool to grow instead. The people from Russia have been so hopeful to have this and seeing the support from the government will eventually boost their courage and go for adoption. If they are into concern about economic improvement, the existence of Bitcoin and cryptocurrencies have more to add. We can see a lot of people change their lives after investing in Bitcoin and that could prove the value of Bitcoin today and in the future.
Just like many countries, Bitcoin somehow helps people's lives, giving them hope to improve their living, and Banning Bitcoin is really not a helpful decision but it only makes people hate the government.
No matter what is the stance on bitcoin for both Russian and Ukraine governments, one thing they must have realized by now is that bitcoin does not lose its value as much as the local fiat currency in war situations.
Both these governments have realized this by now and they may take steps to regulate the crypto in near future. People need to change their mindset about cryptocurrencies.
March 06, 2022, 11:18:38 PM
It is generally known that the Russian Central Bank’s stance is to ban crypto-assets, cryptocurrencies, arguing that they creates risks, primarily for citizens, and financial institutions, banks, and create an obscure settlement market.
But, Anton Siluanov (Russia’s Financial Minister) believes that banning cryptocurrencies is like banning the internet. He argued that although the risks the Central Bank is raising are understandable, but he once again reiterated that banning the sector is considerably worse than regulating it.
There are still debates on this issue and President Putin have encouraged the two financial bodies to find a solution to the deadlock.
If that the Russia government and central bank went ahead to ban bitcoin, there wouldn’t be much that they would be able to do to affect the cryptocurrency market, the only thing that would is that they will cut off the transactions between users banks and the cryptocurrency exchanges (the centralized exchanges, to be specific).But, Anton Siluanov (Russia’s Financial Minister) believes that banning cryptocurrencies is like banning the internet. He argued that although the risks the Central Bank is raising are understandable, but he once again reiterated that banning the sector is considerably worse than regulating it.
There are still debates on this issue and President Putin have encouraged the two financial bodies to find a solution to the deadlock.
Quote
Although that might have a little effect on the market for sometime, for the fact that a lot of people makes use of centralized exchanges as a way to make things easier for themselves when trading cryptocurrency, so they will be able to easily encash their money. But within a short time, a lot of people will switch to P2P.
that is the reality , that people will still seek on how to trade and circulate bitcoin , so those who wanted to do the banning? is just like trying to shoot the stars . legendary
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March 06, 2022, 08:56:03 PM
It is generally known that the Russian Central Bank’s stance is to ban crypto-assets, cryptocurrencies, arguing that they creates risks, primarily for citizens, and financial institutions, banks, and create an obscure settlement market.
But, Anton Siluanov (Russia’s Financial Minister) believes that banning cryptocurrencies is like banning the internet. He argued that although the risks the Central Bank is raising are understandable, but he once again reiterated that banning the sector is considerably worse than regulating it.
There are still debates on this issue and President Putin have encouraged the two financial bodies to find a solution to the deadlock.
https://cryptopotato.com/banning-bitcoin-is-like-banning-the-internet-says-russias-finance-minister/
I totally agree with the financial minister, banning bitcoin and cryptocurrency assets is truly like banning internet. Those who ban it are only shooting themselves on thier own foot, it's totally simple, Russians central bank are just beating about the bush, the truth remains that most central banks in the world fear that bitcoin and cryptocurrencies will put them out of business, so they devise all means, come up with bogus reasons to cajole the entire country into believing their lies and banning crypto.But, Anton Siluanov (Russia’s Financial Minister) believes that banning cryptocurrencies is like banning the internet. He argued that although the risks the Central Bank is raising are understandable, but he once again reiterated that banning the sector is considerably worse than regulating it.
There are still debates on this issue and President Putin have encouraged the two financial bodies to find a solution to the deadlock.
https://cryptopotato.com/banning-bitcoin-is-like-banning-the-internet-says-russias-finance-minister/
My question now is, what is more risky than the useless fiat paper money which has been loosing its value and robbing people off their wealth through inflation since its inception?
March 06, 2022, 08:25:58 PM
It is generally known that the Russian Central Bank’s stance is to ban crypto-assets, cryptocurrencies, arguing that they creates risks, primarily for citizens, and financial institutions, banks, and create an obscure settlement market.
But, Anton Siluanov (Russia’s Financial Minister) believes that banning cryptocurrencies is like banning the internet. He argued that although the risks the Central Bank is raising are understandable, but he once again reiterated that banning the sector is considerably worse than regulating it.
There are still debates on this issue and President Putin have encouraged the two financial bodies to find a solution to the deadlock.
https://cryptopotato.com/banning-bitcoin-is-like-banning-the-internet-says-russias-finance-minister/
How i would love Russia talking like this but not talking about war, they deserve to praise everything but not to invade any country.But, Anton Siluanov (Russia’s Financial Minister) believes that banning cryptocurrencies is like banning the internet. He argued that although the risks the Central Bank is raising are understandable, but he once again reiterated that banning the sector is considerably worse than regulating it.
There are still debates on this issue and President Putin have encouraged the two financial bodies to find a solution to the deadlock.
https://cryptopotato.com/banning-bitcoin-is-like-banning-the-internet-says-russias-finance-minister/
if this words comes out from their mouth without any conflict in others? then this is really a helpful matter but now seeing them having sanctions here and there? i don't think this would bring any help in our crypto market.
March 06, 2022, 06:41:13 PM
The debates will likely be ended up positive and it favors Bitcoin adoption than banning it. I see no reason why Russia will close a deal over Bitcoin as they know, the Presidents knows what seems best for their citizen, it was the internet that gives life now and this Bitcoin gives more.
If they are into concern about economic improvement, the existence of Bitcoin and cryptocurrencies have more to add. We can see a lot of people change their lives after investing in Bitcoin and that could prove the value of Bitcoin today and in the future.
Indeed, they are now accepting Bitcoin. It certainly change their minds knowing the fact that Bitcoin is not a threat to the economy but it was a helping tool to grow instead. The people from Russia have been so hopeful to have this and seeing the support from the government will eventually boost their courage and go for adoption. If they are into concern about economic improvement, the existence of Bitcoin and cryptocurrencies have more to add. We can see a lot of people change their lives after investing in Bitcoin and that could prove the value of Bitcoin today and in the future.
Just like many countries, Bitcoin somehow helps people's lives, giving them hope to improve their living, and Banning Bitcoin is really not a helpful decision but it only makes people hate the government.
They will always find a way how to resolve their situation as their movement is getting limited because of the sanctions.
And going into crypto, is one alternative to move their funds, without much restrictions.
Before, we know, they have different stance towards crypto, now, they are changing their perspectives.
It is only a matter of time for other governments to recognize the benefits brought by crypto.
We welcome their regulations but total banning is seems to be futile as their people can still go around with it.
March 06, 2022, 05:12:44 PM
The debates will likely be ended up positive and it favors Bitcoin adoption than banning it. I see no reason why Russia will close a deal over Bitcoin as they know, the Presidents knows what seems best for their citizen, it was the internet that gives life now and this Bitcoin gives more.
If they are into concern about economic improvement, the existence of Bitcoin and cryptocurrencies have more to add. We can see a lot of people change their lives after investing in Bitcoin and that could prove the value of Bitcoin today and in the future.
Indeed, they are now accepting Bitcoin. It certainly change their minds knowing the fact that Bitcoin is not a threat to the economy but it was a helping tool to grow instead. The people from Russia have been so hopeful to have this and seeing the support from the government will eventually boost their courage and go for adoption. If they are into concern about economic improvement, the existence of Bitcoin and cryptocurrencies have more to add. We can see a lot of people change their lives after investing in Bitcoin and that could prove the value of Bitcoin today and in the future.
Just like many countries, Bitcoin somehow helps people's lives, giving them hope to improve their living, and Banning Bitcoin is really not a helpful decision but it only makes people hate the government.
March 01, 2022, 05:51:48 PM
The debates will likely be ended up positive and it favors Bitcoin adoption than banning it. I see no reason why Russia will close a deal over Bitcoin as they know, the Presidents knows what seems best for their citizen, it was the internet that gives life now and this Bitcoin gives more.
If they are into concern about economic improvement, the existence of Bitcoin and cryptocurrencies have more to add. We can see a lot of people change their lives after investing in Bitcoin and that could prove the value of Bitcoin today and in the future.
Indeed, they are now accepting Bitcoin. It certainly change their minds knowing the fact that Bitcoin is not a threat to the economy but it was a helping tool to grow instead. The people from Russia have been so hopeful to have this and seeing the support from the government will eventually boost their courage and go for adoption. If they are into concern about economic improvement, the existence of Bitcoin and cryptocurrencies have more to add. We can see a lot of people change their lives after investing in Bitcoin and that could prove the value of Bitcoin today and in the future.
Just like many countries, Bitcoin somehow helps people's lives, giving them hope to improve their living, and Banning Bitcoin is really not a helpful decision but it only makes people hate the government.
February 27, 2022, 06:55:20 PM
This will be very difficult or impossible to do then, won't it? Bitcoin is global, not only based on one country so the government may be difficult to control and manage Bitcoin itself. Moreover, the characteristic is digital. We may catch or punish people who may be related to Bitcoin. But not with Bitcoin where it has no physics. In this case, we can see how Bitcoin is actually difficult to be banned. But some countries always make it worse with the bad news and information, dismisinformation actually. ANd I am sure enough that I agree with Rusia that it is difficult to do baning on bitcoin so far.
February 27, 2022, 04:56:04 PM
I think there is some risk that if Russia will try to adopt bitcoin on a large scale, it would result in serious regulation or even ban in the western countries. The situation is very hot right now, so let's hope Bitcoin won't get caught in a crossfire.
The situation is very unfavorable for us. Today, the US and Western decide to remove some Russian banks from the SWIFT payment system. They also have some plans to tighten their grip on crypto if Russia uses crypto to circumvent the law to avoid sanctions. If this happens then we will face a terrible downtrend.I know most of Russian people do not support Putin and they have nothing to do with the war,those who support war are very few and I guess they are brainwashed.Unfortunately you cannot do nothing to stop sanctions and the removal from the SWIFT international payment linking a lot of countries,also Russian economy will go soon bankrupt,unfortunately Russia has not realized this yet.The only thing you can do is to stand up against this idiot Putin who lives in 1989 again and want to reestablish the great Soviet Union,this is not going to happen.
I am sorry that the consequences of a mad man like Putin will be beard by the innocent people of Russia.
Right now, Putin has not felt yet the impact of what he is doing. But I believe, he is ready for whatever possible consequences of his actions. If most of the world will cut off Russia, can they survive? I believe they can. But its people won't like that. This is why a lot of Russians are protesting this move. Aside from the reason that they don't want more blood to sacrifice on this senseless war. A month from now, we will see the aftermath of this war. So hopefully, by then, it has already stopped and both leaders have come to some resolution. But I don't think Putin will just let Ukraine govern on their own.
But at the moment, we are seeing that there are crypto donations going to the Ukraine government, which we can see, as a good side of crypto during this crisis. I don't think US and other EU territories will ban bitcoin or crypto, because as the heading already states, it is like banning the internet. They can only regulate this industry for the benefit of people.
February 27, 2022, 04:32:14 PM
I think there is some risk that if Russia will try to adopt bitcoin on a large scale, it would result in serious regulation or even ban in the western countries. The situation is very hot right now, so let's hope Bitcoin won't get caught in a crossfire.
The situation is very unfavorable for us. Today, the US and Western decide to remove some Russian banks from the SWIFT payment system. They also have some plans to tighten their grip on crypto if Russia uses crypto to circumvent the law to avoid sanctions. If this happens then we will face a terrible downtrend.I know most of Russian people do not support Putin and they have nothing to do with the war,those who support war are very few and I guess they are brainwashed.Unfortunately you cannot do nothing to stop sanctions and the removal from the SWIFT international payment linking a lot of countries,also Russian economy will go soon bankrupt,unfortunately Russia has not realized this yet.The only thing you can do is to stand up against this idiot Putin who lives in 1989 again and want to reestablish the great Soviet Union,this is not going to happen.
I am sorry that the consequences of a mad man like Putin will be beard by the innocent people of Russia.
Right now, Putin has not felt yet the impact of what he is doing. But I believe, he is ready for whatever possible consequences of his actions. If most of the world will cut off Russia, can they survive? I believe they can. But its people won't like that. This is why a lot of Russians are protesting this move. Aside from the reason that they don't want more blood to sacrifice on this senseless war. A month from now, we will see the aftermath of this war. So hopefully, by then, it has already stopped and both leaders have come to some resolution. But I don't think Putin will just let Ukraine govern on their own.
But at the moment, we are seeing that there are crypto donations going to the Ukraine government, which we can see, as a good side of crypto during this crisis. I don't think US and other EU territories will ban bitcoin or crypto, because as the heading already states, it is like banning the internet. They can only regulate this industry for the benefit of people.
February 27, 2022, 04:21:01 PM
I think there is some risk that if Russia will try to adopt bitcoin on a large scale, it would result in serious regulation or even ban in the western countries. The situation is very hot right now, so let's hope Bitcoin won't get caught in a crossfire.
The situation is very unfavorable for us. Today, the US and Western decide to remove some Russian banks from the SWIFT payment system. They also have some plans to tighten their grip on crypto if Russia uses crypto to circumvent the law to avoid sanctions. If this happens then we will face a terrible downtrend.I know most of Russian people do not support Putin and they have nothing to do with the war,those who support war are very few and I guess they are brainwashed.Unfortunately you cannot do nothing to stop sanctions and the removal from the SWIFT international payment linking a lot of countries,also Russian economy will go soon bankrupt,unfortunately Russia has not realized this yet.The only thing you can do is to stand up against this idiot Putin who lives in 1989 again and want to reestablish the great Soviet Union,this is not going to happen.
I am sorry that the consequences of a mad man like Putin will be beard by the innocent people of Russia.
February 27, 2022, 01:00:09 PM
I think he is right and saying well because the Bitcoin and other cryptocurrencies have a good impact on the nations and mostly are relying on it. So I think this is not a good thing to ban Bitcoin.
Just like the internet where lots of people rely on it daily because it's useful. You can connect to the people and get pieces of information, the same thing with bitcoin where lots of people rely on it because they can earn an income with it if they use it for asset use. People can also buy or pay without borders if they use it as a currency. Bitcoin is coined as the money of internet or online money. If they ban it, there will be no internet currency. The internet won't be completed without it. Banning BTC is worse than regulating it because once they ban it, no one can use it while if they only regulate, there are people that are still willing to use it.
February 27, 2022, 06:33:28 AM
I think there is some risk that if Russia will try to adopt bitcoin on a large scale, it would result in serious regulation or even ban in the western countries. The situation is very hot right now, so let's hope Bitcoin won't get caught in a crossfire.
The situation is very unfavorable for us. Today, the US and Western decide to remove some Russian banks from the SWIFT payment system. They also have some plans to tighten their grip on crypto if Russia uses crypto to circumvent the law to avoid sanctions. If this happens then we will face a terrible downtrend. 
February 27, 2022, 05:07:37 AM
At least there's someone like this finance minister who's very like-minded and understands the potential of bitcoin. The central bank can tell its implications to him but we're sure that he's not gonna change his mind with what he see with bitcoin. It may still take time since Russia is doing something that's more important than it. As what the finance minister has said, I think I've read that from someone already through the forum that has said the same thing. It is an inevitable technology and not just a technology but also plays a big role to the online and finance economy which is sharing more than $700M in market cap but has reached $1B during its ATH.
The finance minister is very like minded, than his willing he is much concerned about the war situation. Right now it is helping it's citizens. This seems to be the reason why he's much into legalizing of bitcoin. From just a technology it has been transforming with its different varied usage and has been transforming lives into a new space.
February 27, 2022, 04:57:44 AM
nothing new with what the Russian finance minister said, people who have been in bitcoin for a long time, have realized that first. Bitcoin has spread to become unstoppable, those who say bitcoin can be banned are just saying fantasy.
Some countries have decide to ban bitcoin in their places but they always come unsuccessful. Because you cannot ban a certain once it has already become inevitable. So in case of bitcoin, banning would be very impossible, its better to regulate it."The solution lies in regulating, not banning, Anton Siluanov told officials at the central bank. This would not only protect investors, it would also ensure that the country doesn’t lose out on millions in taxes from the burgeoning industry," he believes. Source: https://coingeek.com/russia-finance-chief-banning-bitcoin-is-like-banning-the-internet/
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