Putin believes Bitcoin has value | Bitcointalksearch.org

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Quote from: Argoo on December 26, 2021, 12:15:01 PM

Quote from: Blawpaw on October 14, 2021, 07:37:08 AM

Russia is adopting a different attitude towards cryptos than China. President Putin has come public saying "Bitcoin has value but it cannot be used in the Oil trade"

I guess Putin didn't still fully grasp the real potential of cryptos as he says

Quote

“Cryptocurrency is not supported by anything as of yet. It may exist as a means of payment, but I think it’s too early to say about the oil trade in cryptocurrency.”

But even so, it shows that Russia seems to be adopting a friendly position facing cryptocurrency and it may be having some impact on the industry. Given that China adopted a harsh position towards cryptos, is it possible that miners are relocating from China to Russia? Is it possible for Russia to step up to occupy the former place China had in Bitcoin? I guess this is what is happening, otherwise, Putin wouldn't come public with such a neutral position.

I personally do not believe a single word of Putin. His words are constantly at odds with his actions. He lies constantly and in everything. This is especially evident in Russia's foreign policy. As for the cryptocurrency, the laws that are being adopted and prepared in this country are simply draconian. In my opinion, Russia is on the verge of completely banning its movement. For a long time, many have understood that Putin is not giving the people the opportunity to use cryptocurrency to make money and profit. Probably because he understood its value, he does not even allow her to circulate in Russia.

fortunately someone who thinks like me appeared, this putin chases political opponents, he would not give people a chance to be free because he wants to die in power, just see that the guy does not leave power to understand what kind of person he is, until today I can't understand how it is possible that bitcoin news channels are wrong with putin, putin is worse than china, at least china has outright banned bitcoin and don't pretend to like bitcoin, putin is cynical

Argoo

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Quote from: Blawpaw on October 14, 2021, 07:37:08 AM

Russia is adopting a different attitude towards cryptos than China. President Putin has come public saying "Bitcoin has value but it cannot be used in the Oil trade"

I guess Putin didn't still fully grasp the real potential of cryptos as he says

Quote

“Cryptocurrency is not supported by anything as of yet. It may exist as a means of payment, but I think it’s too early to say about the oil trade in cryptocurrency.”

But even so, it shows that Russia seems to be adopting a friendly position facing cryptocurrency and it may be having some impact on the industry. Given that China adopted a harsh position towards cryptos, is it possible that miners are relocating from China to Russia? Is it possible for Russia to step up to occupy the former place China had in Bitcoin? I guess this is what is happening, otherwise, Putin wouldn't come public with such a neutral position.

I personally do not believe a single word of Putin. His words are constantly at odds with his actions. He lies constantly and in everything. This is especially evident in Russia's foreign policy. As for the cryptocurrency, the laws that are being adopted and prepared in this country are simply draconian. In my opinion, Russia is on the verge of completely banning its movement. For a long time, many have understood that Putin is not giving the people the opportunity to use cryptocurrency to make money and profit. Probably because he understood its value, he does not even allow her to circulate in Russia.

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Quote from: uneng on October 19, 2021, 01:37:12 PM

Quote from: Blawpaw on October 14, 2021, 07:37:08 AM

But even so, it shows that Russia seems to be adopting a friendly position facing cryptocurrency and it may be having some impact on the industry. Given that China adopted a harsh position towards cryptos, is it possible that miners are relocating from China to Russia? Is it possible for Russia to step up to occupy the former place China had in Bitcoin? I guess this is what is happening, otherwise, Putin wouldn't come public with such a neutral position.

Russia is an important energy provider for Eastern Europe. They have energy in abundance especially from gas and coal sources. The prices stay around 0.064$/kWh. It's half of the energy's price in my country, and although it looks great for me for that reason, I don't know if it's an attractive price to set up mining farms or if it should be even cheaper.
The negative side is that renewable sources of energy are almost inexistent in Russia, what could lead many people to criticize this move from russian government and bitcoin once again, just like we have seen in another countries.

The people will criticize this move if they don't understand this thing but if they consider this as additional revenue, I believe they will open their minds and embrace this new technology. They can put out renewable sources of energy if they want to just to support miners, this will be the best remedy to high mining costs and electricity charges. There are always ways to find if they want to and I think, the Russian government has to think that as well. This will not just give benefits to a few people but this could be for everyone.

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Quote from: V-t.Ester on October 19, 2021, 01:03:53 PM

I’ve read that article. The answer of Russian president is quit misty. Despite he have said that “BTC has value”, he also said that it is “too early” to use it as means of payment of public contracts. This position can be interpreted differently. One thing we can say for sure now, it was not the words of fierce opponent of cryptocurrency, so Russia won’t make BTC illegal, Russian people will continue freely trade and mine BTC.

Wrong thing that I do read up is that they do generalize or mentioned crypto as a whole and not just basically talking about Bitcoin.Whenever these kind of positive sentiments do pop out then it is at least

showing off that they are at least neither be neutral-positive impressions towards it but I wont really be surprised if they wouldn't really recognized bitcoin and instead go with other alternatives

which they do seem to be worth to be adopted but in overall this is actually a positive news for those people who do get involved with crypto in Russia.

uneng

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Quote from: Blawpaw on October 14, 2021, 07:37:08 AM

But even so, it shows that Russia seems to be adopting a friendly position facing cryptocurrency and it may be having some impact on the industry. Given that China adopted a harsh position towards cryptos, is it possible that miners are relocating from China to Russia? Is it possible for Russia to step up to occupy the former place China had in Bitcoin? I guess this is what is happening, otherwise, Putin wouldn't come public with such a neutral position.

Russia is an important energy provider for Eastern Europe. They have energy in abundance especially from gas and coal sources. The prices stay around 0.064$/kWh. It's half of the energy's price in my country, and although it looks great for me for that reason, I don't know if it's an attractive price to set up mining farms or if it should be even cheaper.
The negative side is that renewable sources of energy are almost inexistent in Russia, what could lead many people to criticize this move from russian government and bitcoin once again, just like we have seen in another countries.

V-t.Ester

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I’ve read that article. The answer of Russian president is quit misty. Despite he have said that “BTC has value”, he also said that it is “too early” to use it as means of payment of public contracts. This position can be interpreted differently. One thing we can say for sure now, it was not the words of fierce opponent of cryptocurrency, so Russia won’t make BTC illegal, Russian people will continue freely trade and mine BTC.

Argoo

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It is necessary to judge not by Putin's words, but by his deeds. Over the past five years, Putin has said a lot of controversy about cryptocurrency. However, we see that Russia has adopted one of the worst laws among all states. People in Russia are prohibited from using cryptocurrency as a means of payment, and it is still possible that criminal liability will be established for this violation.
Putin said that cryptocurrency has a certain value? Is it Putin's credit for admitting the obvious? If bitcoin is now valued at more than $ 60,000 worldwide, it would be foolish to deny that it has value.

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If Putin is positive about that, there are two things that come to my mind.
1. Either this man is doing evil thing (Can't remember something kind from him).
2. He really sees the value and predicts the future of cryptocurrencies and this will be a new cold war between the Russian and USA. So, this statement from Putin will turn alarm for USA to do more research around crypto and say another statement or act according to it.
When Russia does something, USA always keeps an eye on it and opposite, so, this news can accelerate the adoption process in both countries.

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Quote from: doomloop on October 17, 2021, 01:21:43 PM

Sure, it’s quite possible that Russia will be filling up that space that China has left open.
As of recent, I saw a news that mining companies has been increasing in Russia while China has dropped to zero.

The report shows that the rate of mining in Russia has increased from around six percent (6%) to over eleven percent (11%), that’s like almost a double increase and it shows that miners are now focusing on Russia as the right location for them to start their mining business, although United States stays at the number one on the list with around thirty percent (30%) of mining operations being carried out there.

Russia will probably have taken this seriously and wanted to make some competition as well in the crypto space. As one of the developing countries, I believe they could make it and contributed a lot to the crypto space, and make some influence to encourage others.
We don't know if this has been related to the China issue but what I see in this situation is that President Putin has finally seen Bitcoin as huge potential and not just for investment but for them to enjoy the benefits of this new technology. And they don't want to look behind the development.

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Quote from: Vaskiy on October 17, 2021, 12:19:32 PM

Quote from: blockman on October 17, 2021, 09:30:05 AM

Quote from: oHnK on October 16, 2021, 11:08:05 AM

Yes, the positive signal from President Putin is enough to make the market appreciate even though there are many other supporting factors. The conditions for Russia and China, which are rumored to be replacing China, are slightly different because Russia is currently looking for an alternative after the US policy on Russia since 2014.

When there are influential people that are telling something positive about bitcoin, the market always reacts. And if someone like Putin tells the same then for sure we're going to see unstoppable market reactions in a positive manner. That's really what we need to have and not those experts in an economy that are telling that bitcoin don't have any value and it's not going to live any longer. But in the end, they are the ones that are even accumulate first than the rest.

Yes, when influential people reveal something positive about cryptocurrencies, automatically the market turns progressive. Putin and Russia were against cryptocurrency in the earlier years. Now this has changed, because even without any legal framework people continue using it. To avoid unwanted mess, government have taken some positive decisions on cryptocurrency regulations. Now Putin also revealed his positive statement on cryptocurrency in his interview. Another thing more miners moving to Russia. This way what Putin believes is made to be true.

It's changed a lot and that perspective and narrative portray very positive to bitcoin. This will change the outlook of others upon hearing that it's Putin that has said that bitcoin has value. A powerful guy that considers it, those words were very plain and simple yet the impact to it to the market and changing the perspective of others is truly encouraging and attractive. Are there more miners moving to Russia? is there any source that can validate that thing?

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Sure, it’s quite possible that Russia will be filling up that space that China has left open.
As of recent, I saw a news that mining companies has been increasing in Russia while China has dropped to zero.

The report shows that the rate of mining in Russia has increased from around six percent (6%) to over eleven percent (11%), that’s like almost a double increase and it shows that miners are now focusing on Russia as the right location for them to start their mining business, although United States stays at the number one on the list with around thirty percent (30%) of mining operations being carried out there.

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Quote from: pinggoki on October 17, 2021, 12:10:46 PM

I think the reason why he tried to relate bitcoin into the oil trade is because as of the moment oil and gold are the means of determining whether a country is developed or not, the more oil and gold reserves they have, the more economically powerful a country is. He believes that bitcoin could be used as a substitute for currency but until the time it could be on par with oil in terms of value and use-case he is most likely to sideline it. Bitcoin, albeit a greener option, still falls short on the use-case sector since oil powers everything as of the moment, but as we trend towards a nature-friendly future, not only Russia but many nations which are initially against the use of crypto may change minds and opinions.

Quote from: ?? on ??

Quote from: Blawpaw on October 14, 2021, 07:37:08 AM

Russia is adopting a different attitude towards cryptos than China. President Putin has come public saying "Bitcoin has value but it cannot be used in the Oil trade"

I guess Putin didn't still fully grasp the real potential of cryptos as he says

Quote

“Cryptocurrency is not supported by anything as of yet. It may exist as a means of payment, but I think it’s too early to say about the oil trade in cryptocurrency.”

But even so, it shows that Russia seems to be adopting a friendly position facing cryptocurrency and it may be having some impact on the industry. Given that China adopted a harsh position towards cryptos, is it possible that miners are relocating from China to Russia? Is it possible for Russia to step up to occupy the former place China had in Bitcoin? I guess this is what is happening, otherwise, Putin wouldn't come public with such a neutral position.

The Russian president only said that Bitcoin has value but he also said that Bitcoin cannot be used for oil trading, from the words of the Russian President I think that there is no hope for Bitcoin to be made as legal tender in the country.
From this news we can conclude that the President of Russia does not prohibit bitcoin in his country but the President of Russia also does not accept Bitcoin as a legal tender.
Hopefully in the future the Russian President can accept bitcoin as a legal means of payment so that the poor can be helped by bitcoin and on the other hand so that the price of bitcoin becomes more expensive.

There is still hope I think, we tend to forget the fact that more and more people are revolutionizing towards a future that is not run by non-renewable resources like oil and coal. Thus, once achieved I think we will have good chances that bitcoin could find some space in the Russian economy and be used for their everyday living. We have to consider that the opinion Putin presented is only for the moment and may change for the better, or for worse in the future, once all things are said and done.

But knowing how positive Putin about crypto at the present, it will be more likely to gain positive results in the future. Although no one holds the future, but we know in time crypto will be more usable in the years to come and by that time, maybe Putin will already accept crypto not just as a currency, but also for oil trading. And in terms of Russia replacing China, i have high hopes that it will really bound to happen soon as China becomes more unproductive to crypto. Russia will definitely be a good relocation for crypto miners as the President itself is not against with it. So definitely, its an edge.

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Quote from: blockman on October 17, 2021, 09:30:05 AM

Quote from: oHnK on October 16, 2021, 11:08:05 AM

Yes, the positive signal from President Putin is enough to make the market appreciate even though there are many other supporting factors. The conditions for Russia and China, which are rumored to be replacing China, are slightly different because Russia is currently looking for an alternative after the US policy on Russia since 2014.

When there are influential people that are telling something positive about bitcoin, the market always reacts. And if someone like Putin tells the same then for sure we're going to see unstoppable market reactions in a positive manner. That's really what we need to have and not those experts in an economy that are telling that bitcoin don't have any value and it's not going to live any longer. But in the end, they are the ones that are even accumulate first than the rest.

Yes, when influential people reveal something positive about cryptocurrencies, automatically the market turns progressive. Putin and Russia were against cryptocurrency in the earlier years. Now this has changed, because even without any legal framework people continue using it. To avoid unwanted mess, government have taken some positive decisions on cryptocurrency regulations. Now Putin also revealed his positive statement on cryptocurrency in his interview. Another thing more miners moving to Russia. This way what Putin believes is made to be true.

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I think the reason why he tried to relate bitcoin into the oil trade is because as of the moment oil and gold are the means of determining whether a country is developed or not, the more oil and gold reserves they have, the more economically powerful a country is. He believes that bitcoin could be used as a substitute for currency but until the time it could be on par with oil in terms of value and use-case he is most likely to sideline it. Bitcoin, albeit a greener option, still falls short on the use-case sector since oil powers everything as of the moment, but as we trend towards a nature-friendly future, not only Russia but many nations which are initially against the use of crypto may change minds and opinions.

Quote from: ?? on ??

Quote from: Blawpaw on October 14, 2021, 07:37:08 AM

Russia is adopting a different attitude towards cryptos than China. President Putin has come public saying "Bitcoin has value but it cannot be used in the Oil trade"

I guess Putin didn't still fully grasp the real potential of cryptos as he says

Quote

“Cryptocurrency is not supported by anything as of yet. It may exist as a means of payment, but I think it’s too early to say about the oil trade in cryptocurrency.”

But even so, it shows that Russia seems to be adopting a friendly position facing cryptocurrency and it may be having some impact on the industry. Given that China adopted a harsh position towards cryptos, is it possible that miners are relocating from China to Russia? Is it possible for Russia to step up to occupy the former place China had in Bitcoin? I guess this is what is happening, otherwise, Putin wouldn't come public with such a neutral position.

The Russian president only said that Bitcoin has value but he also said that Bitcoin cannot be used for oil trading, from the words of the Russian President I think that there is no hope for Bitcoin to be made as legal tender in the country.
From this news we can conclude that the President of Russia does not prohibit bitcoin in his country but the President of Russia also does not accept Bitcoin as a legal tender.
Hopefully in the future the Russian President can accept bitcoin as a legal means of payment so that the poor can be helped by bitcoin and on the other hand so that the price of bitcoin becomes more expensive.

There is still hope I think, we tend to forget the fact that more and more people are revolutionizing towards a future that is not run by non-renewable resources like oil and coal. Thus, once achieved I think we will have good chances that bitcoin could find some space in the Russian economy and be used for their everyday living. We have to consider that the opinion Putin presented is only for the moment and may change for the better, or for worse in the future, once all things are said and done.

blockman

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Quote from: oHnK on October 16, 2021, 11:08:05 AM

Yes, the positive signal from President Putin is enough to make the market appreciate even though there are many other supporting factors. The conditions for Russia and China, which are rumored to be replacing China, are slightly different because Russia is currently looking for an alternative after the US policy on Russia since 2014.

When there are influential people that are telling something positive about bitcoin, the market always reacts. And if someone like Putin tells the same then for sure we're going to see unstoppable market reactions in a positive manner. That's really what we need to have and not those experts in an economy that are telling that bitcoin don't have any value and it's not going to live any longer. But in the end, they are the ones that are even accumulate first than the rest.

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Quote from: Blawpaw on October 14, 2021, 07:37:08 AM

Russia is adopting a different attitude towards cryptos than China. President Putin has come public saying "Bitcoin has value but it cannot be used in the Oil trade"

I guess Putin didn't still fully grasp the real potential of cryptos as he says

Quote

“Cryptocurrency is not supported by anything as of yet. It may exist as a means of payment, but I think it’s too early to say about the oil trade in cryptocurrency.”

But even so, it shows that Russia seems to be adopting a friendly position facing cryptocurrency and it may be having some impact on the industry. Given that China adopted a harsh position towards cryptos, is it possible that miners are relocating from China to Russia? Is it possible for Russia to step up to occupy the former place China had in Bitcoin? I guess this is what is happening, otherwise, Putin wouldn't come public with such a neutral position.

That means Russia is open to bitcoin discussion and use bitcoin as medium of payment either local or international. Especially their president Vladimir Putin says something about bitcoin positively and that will have an impact to the market and its value.
For now, they aren't open yet about the oil trade using bitcoin but this can be the start for the Russian citizens to also use bitcoin.
And yes it is possible that the miners will be relocating to Russia.

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Quote from: Blawpaw on October 14, 2021, 07:37:08 AM

Russia is adopting a different attitude towards cryptos than China. President Putin has come public saying "Bitcoin has value but it cannot be used in the Oil trade"

The value of BTCitcoin is to trade freely on a global level and the countries that are having trade restriction should embrace trading using BTCitcoin and that is the greatest strength to overcome trade restrictions imposed upon them rather than countries starting their own cryptocurrency which is bullshit.

I am expecting more countries accepting cryptocurrency in the coming years and the countries having trade restrictions should take advantage of the situation.

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Quote from: AakZaki on October 16, 2021, 10:54:48 AM

Quote from: Blawpaw on October 14, 2021, 07:37:08 AM

But even so, it shows that Russia seems to be adopting a friendly position facing cryptocurrency and it may be having some impact on the industry. Given that China adopted a harsh position towards cryptos, is it possible that miners are relocating from China to Russia? Is it possible for Russia to step up to occupy the former place China had in Bitcoin? I guess this is what is happening, otherwise, Putin wouldn't come public with such a neutral position.

At least this is a form of support for Cryptocurency. This is one positive news. They will continue to give permission to their citizens to carry out crypto-related activities except for payment instruments. Even if I'm not mistaken they already have the official digital currency Ruble. Maybe this is not a direct support but it does not hinder the development of Bitcoin it is already very good. It looks like they will continue to study Bitcoin and other cryptos.

Yes, the positive signal from President Putin is enough to make the market appreciate even though there are many other supporting factors. The conditions for Russia and China, which are rumored to be replacing China, are slightly different because Russia is currently looking for an alternative after the US policy on Russia since 2014.

AakZaki

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Quote from: Blawpaw on October 14, 2021, 07:37:08 AM

But even so, it shows that Russia seems to be adopting a friendly position facing cryptocurrency and it may be having some impact on the industry. Given that China adopted a harsh position towards cryptos, is it possible that miners are relocating from China to Russia? Is it possible for Russia to step up to occupy the former place China had in Bitcoin? I guess this is what is happening, otherwise, Putin wouldn't come public with such a neutral position.

At least this is a form of support for Cryptocurency. This is one positive news. They will continue to give permission to their citizens to carry out crypto-related activities except for payment instruments. Even if I'm not mistaken they already have the official digital currency Ruble. Maybe this is not a direct support but it does not hinder the development of Bitcoin it is already very good. It looks like they will continue to study Bitcoin and other cryptos.

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Quote from: mindrust on October 16, 2021, 06:13:01 AM

Quote from: Marvell1 on October 16, 2021, 12:18:59 AM

Partly because the US government has said it will not ban bitcoin. Certainly, Putin does not want to be left behind in the race. Second, Bitcoin can help Russia avoid dependence on the US dollar. In the same statement, Putin stressed that if the US continues to impose sanctions on Russia, It is likely that Russia will abandon oil trading in USD. Currently they still trade oil in USD but apparently, he is implying that bitcoin could be used in the future to replace USD.

I know they said that but we still cannot know if Putin will use BTC instead of USD if that happens. My guess is that they are going to try the EURO first. Only if that also fails they'll look for an alternative. Right now EUR and USD are dominating the financial world. Luckily though, EUR won't survive if the USD fails because they are all connected.

They already tried EUR as far as I know. It's easy for Putin to say BTC has value because he is sanctioned. They always say what is best when it favors them and for now supporting BTC is in his favor which EUR and USD might likely fail due to the heavy printing. Russia has the 3rd highest hash rate means they are really supporting this business. If China decides not to accept USD, they will also be looking at EUR.

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