Topic: Banning Bitcoin is Like Banning the Internet, Says Russia’s Finance Minister - page 3. (Read 838 times)
February 27, 2022, 12:51:21 AM
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.
February 26, 2022, 11:17:41 PM
With the usage of cryptocurrency once after the war between Ukraine and Russia Economist Alex Kruger Warns Russia Using Crypto To Escape Sanctions. In his statement he mentioned
The usage of cryptocurrency on sanctions would affect the cryptocurrency market negatively. This is same for stocks and cryptocurrency. The precious metals were gonna turn high. Does this impact can be experienced on the market.
Alex Kruger Warns Russia Using Crypto To Escape Sanctions
Quote
“Russia using crypto to bypass sanctions would be dreadfully bearish.
Don’t expect it to happen.
But be careful what you wish for.
US regulators would be pushed to crush the industry as a matter of national security.”
Don’t expect it to happen.
But be careful what you wish for.
US regulators would be pushed to crush the industry as a matter of national security.”
The usage of cryptocurrency on sanctions would affect the cryptocurrency market negatively. This is same for stocks and cryptocurrency. The precious metals were gonna turn high. Does this impact can be experienced on the market.
Alex Kruger Warns Russia Using Crypto To Escape Sanctions
February 26, 2022, 09:18:15 PM
He’s not wrong, these nations who decide to exclude themselves from the future of finance will regret it. They can’t really ban bitcoin, anybody who knows about Tor, VPN’s, P2P trading can work around it. They can only exclude themselves which is a big mistake.
Definitely agree 100%. Those who failed to adopt and adapt always suffer. It is the law of nature whenever there is a new path towards the future, those who failed to take it, perish at worst. Though I am a pro-Bitcoin, countries can just copy the technology behind cryptocurrency, improve and develop it and can't regret anything since they are still on the path of "future finance". I believe countries can't simply adopt technology that they don't have full control that is why there is always conflicting and resisting acceptance towards Bitcoin. But the good thing with Bitcoin is that it is not bound to any country and everyone can possibly access it just like the internet.
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.
I don't think western country's acceptance of Bitcoin will be affected when Russia adopts it. The only thing that will be affected is the Bitcoin-related services stationed or created by Russia.
February 26, 2022, 09:09:32 PM
Thanks for sharing this. My favorite quote “ The Central Bank wants to take and ban crypto-assets, cryptocurrencies, arguing that this creates risks, primarily for citizens, can “infect” financial institutions, banks, and create an opaque settlement market. This is the same as banning the Internet, which is impossible. – The minister argued”.
As much as I hate Putin it’s nice seeing this, that he’s willing to be open to listing to others with more expertise.
As much as I hate Putin it’s nice seeing this, that he’s willing to be open to listing to others with more expertise.
February 26, 2022, 08:42:38 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.
February 26, 2022, 06:59:28 PM
In today's world it is not easy to shut down Bitcoin and the Internet.I have heard before that the internet system will be shut down Where they have not been able to stop so far. It's so easy to say but not so easy to stop.And Bitcoin is 13 years old today but no country has been able to stop it. But think about how Russia will stop Bitcoin.In fact, over the ages, those who have tried to stop such thinking have failed.
Yeah, if they ban the internet before I don't think we all have come this far? Internet is one of the greatest invention in human kind history, it allows us to gather information around the world in just a second. Internet is used for everyday life in order to evolve and look how far our technology evolving these days? Smartphones aren't a thing in the past but once it was invented look at it now how a video feed, voice feed and internet at the same time in just a single smartphone.The same with Bitcoin and since Bitcoin is decentralized they can't completely ban it and all they could do is to release a bunch of rules and regulations.
February 26, 2022, 06:40:15 PM
So far, banning Bitcoin may be easy by creating certain regulations. But it doesn't mean it is able to stop the Bitcoin movement and adoption even in the country itself. Many people can still access and do activities with Bitcoin, doing trading, investing, using as payment and other things related to Bitcoin. Because Bitcoin is decentralized. ALthough it may be risky, many people or citizen are still involved in Bitcoin.
That may be what actually that government exerince. That is why currently Russia is planning to accept Bitcoin. Or is it because of the war conflict?
That may be what actually that government exerince. That is why currently Russia is planning to accept Bitcoin. Or is it because of the war conflict?
February 26, 2022, 02:37:41 PM
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/
February 26, 2022, 01:25:55 PM
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.
February 26, 2022, 12:18:02 PM
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 26, 2022, 11:40:39 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.
February 26, 2022, 11:34:01 AM
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.
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.
February 26, 2022, 03:48:03 AM
In the first place, there's no reason to ban the internet because it connects us, it gives information that we can share even for free and it makes us smart because we make ourselves informed of the latest news and stories.
Bitcoin, on the other hand, is considered a digital currency, it should not be compared to the internet because bitcoin as a currency can be used for illegal activities and therefore needs to be regulated or banned if cannot be regulated. In the end, it still depends on our government but we see that some governments are pro-bitcoin, so bitcoin will certainly exist even if other countries will ban it.
I also really agree with your review there is no reason for any government to ban the internet, and cut off the internet, because the internet has become a part of our lives, but if there are countries that prohibit bitcoin, it is their government's decision, we can't ban it either, but I also totally agree with your review, even though one country prohibits bitcoin, there will definitely be other countries that accept bitcoin.. Bitcoin, on the other hand, is considered a digital currency, it should not be compared to the internet because bitcoin as a currency can be used for illegal activities and therefore needs to be regulated or banned if cannot be regulated. In the end, it still depends on our government but we see that some governments are pro-bitcoin, so bitcoin will certainly exist even if other countries will ban it.
February 26, 2022, 03:09:42 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.
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.
February 26, 2022, 02:03:13 AM
It is not all government executive that knows the important of bitcoin, and not everyone in government house wants to scribe cryptocurrency away, according op Russian minister of finance have seen the important of bitcoin from his own ways and know that bitcoin adds values to human resources, some countries don't have cryptocurrency that is why they are interested to abolish Bitcoin in their country, it's good statement by Russian minister of finance, banning Bitcoin is like banning internet, because season most of the things that make people to be busy online is because of digital currency and Bitcoin mostly
February 25, 2022, 01:23:25 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/
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 else will state sponsored Russian hackers and blackmailers get their money out? The Finance minister is right, if not a bit of a hypocrite, as Russia heavily monitors and censors the internet (increasing in recent years). No good comes from banning cryptocurrency because there are so many routes to ownership for someone who seriously wants it and it is much safer than the internet in that respect, it's almost an effort in futility in trying to ban it. However, in the meantime, expect to see Russia allowing it as they look for any sources of income and they will be willing to use the dirtiest fuel if it earns them money. It's kind of bad for the whole movement if Russia does not decide to ban it because they have such low standards when it comes to environmental protection.
February 25, 2022, 01:13:21 PM
I doubt that by prohibiting BTC, it will stop the dominance that it effects produced on the market nowadays.
With a currency that can be transacted without the need of any third-party consensus, it is obvious but to see that cryptocurrencies will soon dominate the era of conventional and traditional currencies. People would soon migrate to this kind of transaction where everything is reflected in a public ledger in which no one can even alter or change.
I really do think that BTC is the future of payments whether countries prohibit or ban it or not. Regardless of what countries see it, slowly, its legalization and utilization is felt throughout the world.
With a currency that can be transacted without the need of any third-party consensus, it is obvious but to see that cryptocurrencies will soon dominate the era of conventional and traditional currencies. People would soon migrate to this kind of transaction where everything is reflected in a public ledger in which no one can even alter or change.
I really do think that BTC is the future of payments whether countries prohibit or ban it or not. Regardless of what countries see it, slowly, its legalization and utilization is felt throughout the world.
February 25, 2022, 01:09:32 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 think it is even more difficult than that, once regular people got access to cryptography there were some countries that we are against it and tried to prevent this, but they failed as according to the verdict banning cryptography was the same as trying to ban mathematics, and I think they were right with their comparison, and since bitcoin makes heavy use of cryptography then banning bitcoin is the same as trying to ban mathematics, an industry can be banned but you cannot ban some of the most basic but at the same time profound fields of knowledge of humankind. 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/
February 25, 2022, 12:55:43 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/
Very interesting that this is coming from a country that is amidst war and is about to invade a very pro-bitcoin country in terms of adoption. Yesterday price of bitcoin fell like Russia will destroy bitcoin in Ukraine but magically pumped up at night, maybe after some internal sources might have come to know about this statement that he was about to make. I think what he is saying is absolutely accurate, there is absolutely no way you can ban bitcoin without banning the internet, what most of the countries have been able to do is ban crypto exchanges operating in their country but eventually main bitcoin is on private key and there is no way you can ban it. 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/
February 25, 2022, 12:46:49 PM
Why banning it if they can regulate it or somewhat control it? Monitoring or somewhat controlling both crypto and internet in an specific area is somewhat feasible, so why not do it in that way instead of getting rid of it since it's impossible to ban it in the first place.
Hearing such statement is good to hear than "we will ban bitcoin because it is used for criminals and to launder money", blabla. This statement is mostly comes from an old government guy who only knows fiat and old stuff.
Hearing such statement is good to hear than "we will ban bitcoin because it is used for criminals and to launder money", blabla. This statement is mostly comes from an old government guy who only knows fiat and old stuff.
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