Putin believes Bitcoin has value - page 3.

Natalim

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Quote from: oHnK on October 15, 2021, 11:07:40 AM

Quote from: Questat on October 15, 2021, 10:29:24 AM

Quote from: cheezcarls on October 15, 2021, 06:55:52 AM

I remember the time that Russia said cryptocurrency trading is allowed but not as means of payment (in other words legal tender). At least they could still trade cryptos, but it would be better if they could expand its use cases like as a medium of exchange. It’s good for Putin to say that Bitcoin has value, but that’s just the first step. Hopefully in the future, he would consider allowing cryptos as mode of payment but should be regulated very well like registering as an operating payment system (OPS).

Its been a while that Putin announcing that Bitcoin could be considered as a legal tender to their country but it was sudden that changes his mind and turn it in favor of Bitcoin adoption. I like the idea of changing his decision but if that only will be going to happen, where it having stricter and regulated rules it never attracts interest for the people to adopt Bitcoin and use it.
I assume that he already understands how it works but with his actions, I think he wanted to make it centralized and take control of everything which is not acceptable by the majority.

After he told us what is his opinion about BTC, the market become bullish till now. The price of BTC has reached 60K USD. After a long journey for bearish time, we comeback to reach our new level price. No matter, he want to control BTC among the banning action of another country which I know this has made our portfolio get its profit.

Putin just made a huge impact on bitcoin that made it reach its strong resistance level at $60k. With this positive impact, i can sense that there is really a future for bitcoin in Russia because the president itself has already believed that bitcoin has a real value. It might be too early to conclude but i think its just a matter of few months already and bitcoin could possibly be accepted in Russia. There is a heresay that Russia can take over China when it comes to crypto but this might take a long process before everything will get into its place.

oHnK

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Quote from: Questat on October 15, 2021, 10:29:24 AM

Quote from: cheezcarls on October 15, 2021, 06:55:52 AM

I remember the time that Russia said cryptocurrency trading is allowed but not as means of payment (in other words legal tender). At least they could still trade cryptos, but it would be better if they could expand its use cases like as a medium of exchange. It’s good for Putin to say that Bitcoin has value, but that’s just the first step. Hopefully in the future, he would consider allowing cryptos as mode of payment but should be regulated very well like registering as an operating payment system (OPS).

Its been a while that Putin announcing that Bitcoin could be considered as a legal tender to their country but it was sudden that changes his mind and turn it in favor of Bitcoin adoption. I like the idea of changing his decision but if that only will be going to happen, where it having stricter and regulated rules it never attracts interest for the people to adopt Bitcoin and use it.
I assume that he already understands how it works but with his actions, I think he wanted to make it centralized and take control of everything which is not acceptable by the majority.

After he told us what is his opinion about BTC, the market become bullish till now. The price of BTC has reached 60K USD. After a long journey for bearish time, we comeback to reach our new level price. No matter, he want to control BTC among the banning action of another country which I know this has made our portfolio get its profit.

suzanne5223

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Quote from: Pejoh Asu on October 15, 2021, 08:06:57 AM

Quote from: suzanne5223 on October 15, 2021, 07:49:03 AM

I am not surprised that Vladimir Putin believes Bitcoin has value and to be sincere. Russia is the country I expected to first use cryptocurrency as legal tender due to the meeting Putin had with some Executive and Vitalik some couple of years ago about Russia’s economic reform and use of digital economy with their own digital currency. After the meeting, Putin also endorses Ethereum then and I don't know why they seem to pause on the journey. However, Russia is still one of the top countries that recognized crypto so we shouldn't expect something less from a President like Putin.

Of course president putin sees a lot of benefits from cryptocurrencies so they can be legalized soon, maybe this is the beginning that bitcoin will soon be legal for transactions like fiat so that will make bitcoin shine even more.

We don't know when that will be can Putin ought to be the first President to legalized Bitcoin before El Salvador did.

Quote from: Yaunfitda on October 15, 2021, 08:09:07 AM

Just make me thinks though, if there is one crypto that Putin should adopt and embrace, it should be Vitalik Buterin's Ethereum?

Old article here, 2017: https://www.coindesk.com/markets/2017/06/05/vladimir-putin-and-vitalik-buterin-discuss-ethereum-opportunities/

Quote

The president of Russia briefly met with ethereum inventor Vitalik Buterin during an event last week.

The meeting between Buterin and president Vladimir Putin occurred at the St. Petersburg International Economic Forum, which took place between 1st and 3rd June, following an address to a global group of chief executives.

According to the brief statement released on Friday by the Kremlin:

"Mr. Buterin described the opportunities for using the technologies he developed in Russia. The President supported the idea of establishing ties with possible Russian partners."

Or maybe he really see something in bitcoin that his government can used to their advantage like making money for them in terms of taxes?

Nice one mate. Thats the old article which explained everything I said above but we don't know what Putin discussed with the executives in the meeting they had then. However, he does support Vitalik in his journey of ETH creation right from the beginning and Putin is not the only President that sees Bitcoin as the way to generate more income taxes for the country.

Questat

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Quote from: cheezcarls on October 15, 2021, 06:55:52 AM

I remember the time that Russia said cryptocurrency trading is allowed but not as means of payment (in other words legal tender). At least they could still trade cryptos, but it would be better if they could expand its use cases like as a medium of exchange. It’s good for Putin to say that Bitcoin has value, but that’s just the first step. Hopefully in the future, he would consider allowing cryptos as mode of payment but should be regulated very well like registering as an operating payment system (OPS).

Its been a while that Putin announcing that Bitcoin could be considered as a legal tender to their country but it was sudden that changes his mind and turn it in favor of Bitcoin adoption. I like the idea of changing his decision but if that only will be going to happen, where it having stricter and regulated rules it never attracts interest for the people to adopt Bitcoin and use it.
I assume that he already understands how it works but with his actions, I think he wanted to make it centralized and take control of everything which is not acceptable by the majority.

Slow death

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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"

he says bitcoin has value but he doesn't talk about what he's doing good to promote an environment where people in his country can use bitcoin without his country's banks not blocking accounts... in short his words are empty , they change absolutely nothing about bitcoin in russia. I wonder why the news channels are posting this kind of irrelevant news?

Quote from: ultrloa on October 15, 2021, 09:18:03 AM

Quote from: guydin on October 15, 2021, 08:58:06 AM

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.

Being a resident of Russia, I am really happy that Putin doesn't prevent us from buying and trading cryptocurrencies. We can't pay with them, but at least we can use them as investment. I think that it is a wise step from him as Bitcoin and blockchain technologies in general have a big potential and are really useful, so if Russia starts adopt Bitcoin in the same way as America, it will be good for it.

Its good to have a open minded president since they could give their citizens an options to venture theirselves on new things just like bitcoin, For sure this will be a good basis to others that they should trust bitcoin to since once other country will think the same as Putin or other government who adopt bitcoin for sure it will be beneficial to us and to the industry to last long and have good institutions to hold on.

he's not open-minded, he just said these words without weight because in practice they're not doing anything concrete so that in russia anyone can use bitcoin without having problems.

Russia aims to limit crypto purchases by non-accredited investors

ultrloa

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Quote from: guydin on October 15, 2021, 08:58:06 AM

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.

Being a resident of Russia, I am really happy that Putin doesn't prevent us from buying and trading cryptocurrencies. We can't pay with them, but at least we can use them as investment. I think that it is a wise step from him as Bitcoin and blockchain technologies in general have a big potential and are really useful, so if Russia starts adopt Bitcoin in the same way as America, it will be good for it.

Its good to have a open minded president since they could give their citizens an options to venture theirselves on new things just like bitcoin, For sure this will be a good basis to others that they should trust bitcoin to since once other country will think the same as Putin or other government who adopt bitcoin for sure it will be beneficial to us and to the industry to last long and have good institutions to hold on.

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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.

Being a resident of Russia, I am really happy that Putin doesn't prevent us from buying and trading cryptocurrencies. We can't pay with them, but at least we can use them as investment. I think that it is a wise step from him as Bitcoin and blockchain technologies in general have a big potential and are really useful, so if Russia starts adopt Bitcoin in the same way as America, it will be good for it.

Yaunfitda

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Just make me think though, if there is one crypto that Putin should adopt and embrace, it should be Vitalik Buterin's Ethereum?

Old article here, 2017: https://www.coindesk.com/markets/2017/06/05/vladimir-putin-and-vitalik-buterin-discuss-ethereum-opportunities/

Quote

The president of Russia briefly met with ethereum inventor Vitalik Buterin during an event last week.

The meeting between Buterin and president Vladimir Putin occurred at the St. Petersburg International Economic Forum, which took place between 1st and 3rd June, following an address to a global group of chief executives.

According to the brief statement released on Friday by the Kremlin:

"Mr. Buterin described the opportunities for using the technologies he developed in Russia. The President supported the idea of establishing ties with possible Russian partners."

Or maybe he really see something in bitcoin that his government can used to their advantage like making money for them in terms of taxes?

Pejoh Asu

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Quote from: suzanne5223 on October 15, 2021, 07:49:03 AM

I am not surprised that Vladimir Putin believes Bitcoin has value and to be sincere. Russia is the country I expected to first use cryptocurrency as legal tender due to the meeting Putin had with some Executive and Vitalik some couple of years ago about Russia’s economic reform and use of digital economy with their own digital currency. After the meeting, Putin also endorses Ethereum then and I don't know why they seem to pause on the journey. However, Russia is still one of the top countries that recognized crypto so we shouldn't expect something less from a President like Putin.

Of course president putin sees a lot of benefits from cryptocurrencies so they can be legalized soon, maybe this is the beginning that bitcoin will soon be legal for transactions like fiat so that will make bitcoin shine even more.

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People, you need to start thinking with your head, because making a sensation out of one innocent statement really doesn’t make sense. There are two groups of people who claim that Bitcoin has no value - the first are those who really have a low IQ and do not understand anything more than the relationship "bank -> plastic card - > ATM - > PIN -> money" - and those others who are so deeply involved in the existing financial system that they will always be negative about Bitcoin no matter how well they understand it.

Besides, what an obsession it is with a man who poisons his political opponents with radioactive substances or literally kills them under the window of his office. His opinion is literally worthless to me.

suzanne5223

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I am not surprised that Vladimir Putin believes Bitcoin has value and to be sincere. Russia is the country I expected to first use cryptocurrency as legal tender due to the meeting Putin had with some Executive and Vitalik some couple of years ago about Russia’s economic reform and use of digital economy with their own digital currency. After the meeting, Putin also endorses Ethereum then and I don't know why they seem to pause on the journey. However, Russia is still one of the top countries that recognized crypto so we shouldn't expect something less from a President like Putin.

DarkDays

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Quote from: wissy on October 14, 2021, 08:41:11 AM

That is not that surprising since Russian government announced their own cryptorubble coin way back in 2017, with Putin backing it up. Also they probably want to counter USA aggressive policy towards bitcoin. I guess they see crypto as a potential leverage in the future against USA.

The way I view it, Putin is an opportunistic man and with crypto about to erupt through nations he's making the right moves for his country.

Yes, there might also be in spite of the competition from other countries, and to stand above them namely USA and China but at least he is not dismissing of something that has been staring politicians in the face for the past year or so. We'll see how far he goes with it...

cheezcarls

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I remember the time that Russia said cryptocurrency trading is allowed but not as means of payment (in other words legal tender). At least they could still trade cryptos, but it would be better if they could expand its use cases like as a medium of exchange. It’s good for Putin to say that Bitcoin has value, but that’s just the first step. Hopefully in the future, he would consider allowing cryptos as mode of payment but should be regulated very well like registering as an operating payment system (OPS).

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I don't think Putin needs to understand crypto, there is no reason he would need it. I mean, I understand BTC and crypto, in general, is a great thing, but it's not some magical solution that will better anyone who adopts it. So small steps taken are all right, but not sure if Putin saying something has value will do anything much to the ecosystem. Small steps.

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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 don't see this as crypto friendly statement, but more as a neutral statement. He didn't really specify in what sense Bitcoin has value, because of course most of them have value, they are traded for christ sake, it's the very definition of value. Saying that they don't have value would just be lying at this point.

But to go further on what he meant; like he instantly withdrawed his statement just to say: “But I don’t believe it can be used in the oil trade.". That says enough about where we are now imho. Also being neutral to cryptos at this point seems like they are playing mind games between US and Russia. They all know that there could be decentralized solution for value, and that sort of disrupts the current value power balance.

dkbit98

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Sure he thinks that Bitcoin has value and especially for countries that have some kind of international sanctions like Russia and Iran have for example.
All those countries can mine Bitcoin without any limitations and use it for international trading for anything they want, and this is how it should be with money.
Putin or anyone else can't control or print more Bitcoin so they can't change supply like they are doing with fiat currencies and steal from people with inflation.

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Putin believes the internet can be downloaded in an office folder. C'mon, you can't seriously listen to whatever this man says about crypto.

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I think Putin just doesn't want to seize the opportunity, that's all. He might not like Bitcoin, but given that cryptos are already popular in Russia, China is cracking down on cryptos, and crypto mining in the US is getting way more popular, he wants to benefit from the window of opportunity, created by China basically leaving the industry. So it's better to have something new and with high potential in Russia than allow the US to dominate one more economic area, right? I mean it from Russia's perspective, of course. So saying something negative about cryptos is just not a good political option for him anymore, but it doesn't mean he wants to deal with the risks due to BTC's volatility or to spend the country's resources on properly managing and regulating cryptos. Hence the vague statement, Putin's favorite kind of statements.

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Crypto and oil trade are different as oil trade can be included in the commodity and oil has a physical form while crypto does not. Sometimes, the government says different things about one thing while they can agree with it behind the scenes and not in public.

But if Russia seems to want to adopt a friendly of crypto, that will give a strong position for crypto in Russia, crypto can grow and it will reach the people. Russia could replace China's position in crypto as China is not friendly to crypto and if that can happen, we might see a change in the crypto world. Of course, that will have an impact on crypto.

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Quote from: hatshepsut93 on October 14, 2021, 05:13:48 PM

I'd like to get a direct source for that, cause in this article the words "bitcoin" and "cryptocurrency" are interchangeably used. I've seen many times titles like "country X supports Bitcoin" and then you read the article and they are actually talking about CBDC or stablecoins.

I hope people won't start saying that "Russia will make Bitcoin a legal tender" and include it in that fake list of countries that will adopt Bitcoin next.

Everything is correct. Bitcoin was not mentioned anywhere in the journalist's question. Exactly, like Putin's answer did not name exactly the use of Bitcoin. If you all remember that back in 2020, Putin signed a law on digital assets, where it was said that from 2021 it would be possible to conduct transactions in cryptocurrency, but it is prohibited to use it as a means of payment.
Putin's comment says that everything that develops, and in this case, the cryptocurrency as a whole, has a right to exist. But it is very early to talk about contracts in cryptocurrency and use it for oil trading.

Topic: Putin believes Bitcoin has value - page 3. (Read 532 times)