Topic: Ruble Collapse Could Fuel Next Bitcoin Run (Read 3067 times)

It's unlikely but I think people put too much faith in their fiat currencies. I don;t know whether I'm being paranoid or not but I think the west will see another massive financial crisis within the next ten years and we could see  many previously strong currencies completely collapsing.

No it won't 

World currency are so weak against simple devaluation of 1 unit ... like oil price.
Bitcoin will change this ... really.

Any day now. As soon as everybody has 5 of every appliance and electronic device, then they will start buying bitcoins. Who doesn't need a tv in the bathroom?

Now that the Russian Ruble is really collapsing, are there signs bitcoin adoption is increasing in Russia?

interesting analysis .. I agree, this could really boost the price of BTC

Trouble is, the Russian dictators know this and have outlawed BTC already

If there were no artificial, government scum-made hurdles between fiat currencies and BTC, it would be well over 1000, possibly even in the 5 digit range right now. 

The BABA theory had more sense than believing this could have an impact, and it did shit nothing.

Hmm, problem is there are very few places to trade rubles for Bitcoins that is openly viewable a bit like with the pound, but I guess that's the whole point. Does make it a bit difficult to have an idea of what's going on in the markets does anyone know where this data is coming from. I realise there's BTC-E which lets you trade for rubles and I think bleutrade does it as well but aside from localbitcoins they're the only ones I can think of, meanwhile there's several more exchanges trading in the U.S dollar.

I don't know about "broad", but there's some

https://www.youtube.com/watch?v=nob0wutM-Xo

russia does not care about the ruble to USD value...

research BRICS and you will see the game plan

I would say that the people of russia anticipating the collapse of the Ruble could cause a runup in the price of bitcoin, but once the USD price of Ruble collapses the damage will have been done and people will have little marginal benefit from buying bitcoin.

I think that one thing that could cause bitcoin to increase that is Russia related is if Russia were to outlaw the use of dollars, which would give people an incentive to use a currency that cannot be easily seized (like bitcoin)

That's an interesting hypothesis and as you say could be really huge
Is there broad based mainstream awareness of btc in Russia?

The Central Bank of Russia has gone to a de facto free float, as Ruble weakness overwhelmed its ability to effectively intervene. Now there are reports that Russia may ban the circulation of US dollars .
If this story is true, then wealthy Russians will need a way to convert Ruble holdings into US dollars.  One of the easiest and least transparent channels would be to buy bitcoin and then convert those holdings into other fiat currencies.
It appears this is already happening, as the Ruble price of bitcoin has been outpacing the gain in the US Dollar price of bitcoin.

Recall that the enormous run in bitcoin during 2013 ($200-$1100) was partially fueled by wealthy Chinese using bitcoin as a channel to withdraw capital from China. Also recall that the price crash in bitcoin was a result of the Chinese government cracking down on this practice.

In the coming weeks and months I will be watching for the Ruble price of bitcoin to far outpace the US Dollar price. Additionally, if bitcoin is being used as a capital flight channel it would not surprise me to see restrictions placed on bitcoin trading in Russia - luckily for us speculators that is probably far into the future…and at much higher prices.

From:http://finance.yahoo.com/tumblr/blog-rouble-collpase-could-fuel-next-bitcion-run-153153403.html?.tsrc=applewf