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Topic: Rouble crash didn't give a chance to Bitcoin? - page 2. (Read 5047 times)

sr. member
Activity: 378
Merit: 254
No.  That kind of language specifies nothing other than that that kind of language was used.  If a shell company was registered in Cyprus, the name of that shell/shelf would be available on the website, as is the case with Havelock's Panamanian shelf.  Even a shell offers leads to investigators, hence no shell.
Stop believing everything you read on the interwebs.

There is no reason to pull the "Cyprus" name out of a hat when writing the terms and conditions. These things are written by lawyers and essentially mean "if you are going to sue us, you'd have to find a law in this particular jurisdiction that we have broken, because we legally reside (i.e., have headquarters or are registered) there".

Lol, "no reason to pull the "Cyprus" name out of a hat"?  It convinced you, did the job, so why not?
As far as "if you are going to sue us" goes, you need to know who "us" is before you can sue, and you don't Smiley

Re. "we aren't Russian citizens":  So they're not Russian citizens & purportedly registered in Cyprus...  What makes the exchange Russian again?
hero member
Activity: 1022
Merit: 500
The rouble crash increased the Bitcoin value in rouble. If Russia doesn't react stupidly the rouble could recover against other currencies but Bitcoin will beat the rouble over years to come as it will be more adopted and it's market cap is likely to grow to tens of billions.
full member
Activity: 139
Merit: 100
No.  That kind of language specifies nothing other than that that kind of language was used.  If a shell company was registered in Cyprus, the name of that shell/shelf would be available on the website, as is the case with Havelock's Panamanian shelf.  Even a shell offers leads to investigators, hence no shell.
Stop believing everything you read on the interwebs.

There is no reason to pull the "Cyprus" name out of a hat when writing the terms and conditions. These things are written by lawyers and essentially mean "if you are going to sue us, you'd have to find a law in this particular jurisdiction that we have broken, because we legally reside (i.e., have headquarters or are registered) there".

Besides, Cyprus is the obvious choice when you want to register a shell company that does somewhat shady business. Gibraltar is another such place, but the Russians are well-known to have financial interests in Cyprus.

Also, I couldn't find a link right now, but there was some discussion about a prosecutor's office in Volgograd investigating the company (because Bitcoin was banned in Russia) and the admin of the exchange basically saying "we have nothing to worry about, we are registered in Cyprus and we aren't Russian citizens".
sr. member
Activity: 378
Merit: 254
...The company is registered in Cyprus.
...

Any documentation?

From the terms and conditions of the site:

Quote
Jurisdiction

Laws in the country where the user resides may not allow the usage of an online tool with the characteristics of BTC-e or any of its features. BTC-e does not encourage the violation of any laws and cannot be held responsible for violation of such laws. For all legal purposes, these Terms of Use shall be governed by the laws applicable in the Cyprus. You agree and hereby submit to the exclusive personal jurisdiction and venue of the Cyprus for the resolution of any disputes arising from these Terms of Use.

This kind of language normally specifies the geographical location of the company's registration or headquarters; even when it is just a shell company. My guess is that it was easy to register a shell company in Cyprus and the Russians are well-known to have financial interests there.

No.  That kind of language specifies nothing other than that that kind of language was used.  If a shell company was registered in Cyprus, the name of that shell/shelf would be available on the website, as is the case with Havelock's Panamanian shelf.  Even a shell offers leads to investigators, hence no shell.
Stop believing everything you read on the interwebs.

TL;DR:  For all legal purposes, these Terms of Use this post shall be governed by the laws applicable in the Cyprus. You agree and hereby submit to the exclusive personal jurisdiction and venue of the Cyprus for the resolution of any disputes arising from these Terms of Use.

Am I doin it rite?
full member
Activity: 139
Merit: 100
...The company is registered in Cyprus.
...

Any documentation?

From the terms and conditions of the site:

Quote
Jurisdiction

Laws in the country where the user resides may not allow the usage of an online tool with the characteristics of BTC-e or any of its features. BTC-e does not encourage the violation of any laws and cannot be held responsible for violation of such laws. For all legal purposes, these Terms of Use shall be governed by the laws applicable in the Cyprus. You agree and hereby submit to the exclusive personal jurisdiction and venue of the Cyprus for the resolution of any disputes arising from these Terms of Use.

This kind of language normally specifies the geographical location of the company's registration or headquarters; even when it is just a shell company. My guess is that it was easy to register a shell company in Cyprus and the Russians are well-known to have financial interests there.
sr. member
Activity: 378
Merit: 250
If I'm not wrong, Russia has banned Bitcoin from its country. Why actually Russia have to leave BAN and introduce bitcoin like the next currency? And then consider that Putin actually prefer gold to rouble  Cheesy
sr. member
Activity: 378
Merit: 254
...The company is registered in Cyprus.
...

Any documentation? 
full member
Activity: 139
Merit: 100
... In fact, the russian exchange btc-e is one of the top exchanges in the world by volume...

Last I checked it was Bulgarian Sad


No, it is not, don't believe everything you see on the internet. Russian ops, servers around the world, cyprus and bulgaria at one point but it definitely has nothing bulgarian in it.

The servers are hosted mostly in Bulgaria but it's definitely a Russian operation. (Maybe Ukrainian, although unlikely. But most definitely not a Bulgarian one.) The company is registered in Cyprus.

I hear that it ain't easy getting US dollars out of it, though.
sr. member
Activity: 378
Merit: 254
... In fact, the russian exchange btc-e is one of the top exchanges in the world by volume...

Last I checked it was Bulgarian Sad


No, it is not, don't believe everything you see on the internet. Russian ops, servers around the world, cyprus and bulgaria at one point but it definitely has nothing bulgarian in it.

Is it even registered anywhere?  Can't find any info on the site.

No it's not, and they are trying hard to stay under radar. So it will be easier to run with the money later Smiley

The fact that they first announced on a russian sub-forum here in pure russian (here: https://bitcointalksearch.org/topic/btc-ecom-bitcoin-namecoin-litecoin-usd-02-29698) points to the origins, though; also the fact that most of their initial fiat I/O methods are only used in Russia/Ukraine.

Hi, just looked through the thread, you're most likely right.  OTOH, I'm a native Russian speaker (live in US now), so starting an exchange through .ru sub would be an interesting approach to staying off the radar for me (if I wanted to play Ukyo/TF/etc., etc.) Smiley
legendary
Activity: 1176
Merit: 1010
Borsche
... In fact, the russian exchange btc-e is one of the top exchanges in the world by volume...

Last I checked it was Bulgarian Sad


No, it is not, don't believe everything you see on the internet. Russian ops, servers around the world, cyprus and bulgaria at one point but it definitely has nothing bulgarian in it.

Is it even registered anywhere?  Can't find any info on the site.

No it's not, and they are trying hard to stay under radar. So it will be easier to run with the money later Smiley

The fact that they first announced on a russian sub-forum here in pure russian (here: https://bitcointalksearch.org/topic/btc-ecom-bitcoin-namecoin-litecoin-usd-02-29698) points to the origins, though; also the fact that most of their initial fiat I/O methods are only used in Russia/Ukraine.
legendary
Activity: 1582
Merit: 1196
Reputation first.
The Rouble has fallen sharply against the dollar recently
but why this didn't call a strong buy in Bitcoin and bring the price up while the gold and oil are also going down?

A great quantity of people (russian people we say) think (in my honest opinion, naturally) that invest in gold, silver is a better way than Bitcoin and other cryptocurrencies, because it's true that Rouble lost 50% of its value in few time, but keep in mind that Bitcoin is dropping from 1100$ to 330$, I don't think that it is a good way to invest all of my money in bitcoin.
hero member
Activity: 812
Merit: 1000
I think Bitcoin fans are humongously overestimating its position in the world at present.

Exactly, the amount of Russians who are aware of bitcoins is probably 0.01%<, and 80% of that 0.01 probably thinks its something like MMM
member
Activity: 84
Merit: 10
OPEC wants to make shale oil economically unfeasible by retaining a high oil output, and that's what's primarily wrecking the ruble right now.
sr. member
Activity: 378
Merit: 254
... In fact, the russian exchange btc-e is one of the top exchanges in the world by volume...

Last I checked it was Bulgarian Sad


No, it is not, don't believe everything you see on the internet. Russian ops, servers around the world, cyprus and bulgaria at one point but it definitely has nothing bulgarian in it.

Is it even registered anywhere?  Can't find any info on the site.
legendary
Activity: 1176
Merit: 1010
Borsche
... In fact, the russian exchange btc-e is one of the top exchanges in the world by volume...

Last I checked it was Bulgarian Sad


No, it is not, don't believe everything you see on the internet. Russian ops, servers around the world, cyprus and bulgaria at one point but it definitely has nothing bulgarian in it.
legendary
Activity: 2590
Merit: 3015
Welt Am Draht
I think Bitcoin fans are humongously overestimating its position in the world at present.

Similar to the Cyprus thing. I seriously doubt more than a tiny handful of people in the firing line there put a bean into BTC. It was a catalyst for a reasonable number of people elsewhere who were already ideologically inclined to get into it.

We'll see real flights into it a few more years down the line.
sr. member
Activity: 378
Merit: 254
... In fact, the russian exchange btc-e is one of the top exchanges in the world by volume...

Last I checked it was Bulgarian Sad



But yeah, I get your point, an anon exchange doesn't quite spell "safe haven."
hero member
Activity: 521
Merit: 500
The Russian government can ban BTC anytime. To the average Russians it does not have much appeal. Gold and silver on the other hand are well known and have survived for hundreds of years.
legendary
Activity: 1176
Merit: 1010
Borsche
The problem is not, not knowing the bitcoins. The problem is getting anything for RUB, like USD or bitcoins. There is a limit for buying USD and there is not many place to echange RUB.
You can use some indirect transfers of rouble with lots of fees. And the process is complicated.
Once You get ie. USD what to do with them? Send them back to Your account and risk it will go away ? Sure You can always send it to a bank account abroad.

Wow, some load of misinformation, from start to end not a single word of truth.

No, there is no problem buying anything for rouble. In fact, the russian exchange btc-e is one of the top exchanges in the world by volume, there are many localbitcoins high volume sellers, etc etc. The problem is, as was said above, not many people view bitcoin as a safe haven, most people with money flee to USD/EUR, and most common folk just spend their roubles on merchandise like cars and electronics while it's cheaper than anywhere else in the world.
member
Activity: 420
Merit: 10
Off-topic joke.

Q: What is the exchange rate between the pound, the ruble and the dollar?
A: One pound of dry rubles is worth a dollar.

good one  Grin
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