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Topic: Russia Prepares To Buy Up To $10 Billion In Bitcoin To Evade US Sanctions - page 3. (Read 895 times)

legendary
Activity: 1526
Merit: 1179
It can't, because it's based on very shaky speculation. I'm pretty sure no one wholeheartedly believes this, considering Bitcoin's recent woes and how large the amount is. They probably can't risk all of that, especially because they aren't even doing well financially in the first place. If it does happen though, I'd expect a furious bull run. I mean, Bitcoin as a reserve currency? Sign me up lol.
Large entities usually tend to stock up on whatever they plan to buy in, then have news outlets start with what seems to be an empty rumor, where after that the entities themselves confirm the rumors.

It's basically like how people here have been waiting for years to see institutions enter, while they very well may have entered already. By the time they say that they are going to buy Bitcoin, know that they are done buying....

We'll see where this goes, but as it is right now, the mass doesn't take anything of this serious, so there might be a sweet counter move looming where Russia pops up out of nothing.
legendary
Activity: 2254
Merit: 1043
jr. member
Activity: 378
Merit: 3
Don't know whether this news is real or not but it is positive news for the cryptocurrency  industry we can expect positive pump
jr. member
Activity: 252
Merit: 4
If Rusia government buying bitcoin worth $10billion in market, i think its good news for bitcoin holder. People will think bitcoin can be government reserve and if this step followed by others country, i think bitcoin will be profitable in the future

if news is true russia buy $10billion in market BTC price should pump to more than 4-4.5k  but price not going up alway dump and sideway
legendary
Activity: 3514
Merit: 1280
English ⬄ Russian Translation Services
right now i not see news like this have effect to make BTC price pump too much.

only news like exchange hack can make BTC price dump more than everything

It can't, because it's based on very shaky speculation. I'm pretty sure no one wholeheartedly believes this, considering Bitcoin's recent woes and how large the amount is. They probably can't risk all of that, especially because they aren't even doing well financially in the first place. If it does happen though, I'd expect a furious bull run. I mean, Bitcoin as a reserve currency? Sign me up lol.

As I get it, no one is actually believing in Bitcoin here

And all that noise that people were making nonstop 24/7 about Bitcoin being "digital gold", "the best store of value ever", "world money", it was all thorough bullshit and elaborate lie, right? So is there a soothing light at the end of the tunnel or is it just the freight train coming our way? On the other hand, Russia not doing well financially (with that freight train coming their way) may be desperately looking for a way out ("wunderwaffe"), and in that case we can expect many strange decisions not quite in line with sound reasoning and logic, bordering on insane
hero member
Activity: 1834
Merit: 759
right now i not see news like this have effect to make BTC price pump too much.

only news like exchange hack can make BTC price dump more than everything

It can't, because it's based on very shaky speculation. I'm pretty sure no one wholeheartedly believes this, considering Bitcoin's recent woes and how large the amount is. They probably can't risk all of that, especially because they aren't even doing well financially in the first place. If it does happen though, I'd expect a furious bull run. I mean, Bitcoin as a reserve currency? Sign me up lol.
member
Activity: 756
Merit: 12
If Rusia government buying bitcoin worth $10billion in market, i think its good news for bitcoin holder. People will think bitcoin can be government reserve and if this step followed by others country, i think bitcoin will be profitable in the future
legendary
Activity: 3514
Merit: 1280
English ⬄ Russian Translation Services
It won't work. I mean bitcoin is great and all but Russia will not be capable of spending 10 billion dollars in bitcoin for anything of value, what are they going to do book hotels on Expedia and get the money back to their country ? The problem is not what money they use, it is the sanctions that do not allow them to do shady stuff and as long as they want to use money on shady stuff bitcoin is as close to as possible but at the time of cashing out it will still create a problem

To make things clear, I totally agree with your view

With that said, though, it can be said that Russia is going to buy Bitcoin as they see and appreciate its true potential as a future unit of account in international trade as well as a universally accepted and highly valued store of value (on par with or even exceeding gold in this role). This sounds kinda implausible or impossible to you, right? So what are you doing here then? I guess you can't have it both ways, i.e. to value Bitcoin high personally and refuse this option to someone else or some other entity. Or, maybe, you don't actually believe in the stories you are telling (note that I don't mean you personally, of course, so no offense should be taken)

The day USA decides to freeze all assets of certain dangerous Russian people even tough whoever decided to freeze the assets will have their life on the line for such a thing it will also stop Russia to do shady stuff like they did with NRA. They literally got into an important NRA level position and gave money to shady politicians, this should always be held accountable and bitcoin won't help them on that.

This is not a politics board, but while we are at it, Russia isn't doing anything what all other nation states (including the US) haven't been doing for centuries
full member
Activity: 1050
Merit: 100
Well, I'm not really sure we can considerate this news source really trusted.
I think they are going to speculate too much on this USA-RUSS thing...

Forget about the truth of the news. Actually markets of crypto moves with the news. In the past I have seen many WRONG negative news which resulted in fud and dump of bitcoin prices. Before the time, the news is validated, the people already dump their coins which is not the right approach though.

Now with this positive news , it will be taken as a motivation by the investors and they will surely start buying more bitcoins before bitcoin price rises more. Overall I think we are moving towards positive direction and hope fully this year will be much better than the last year.


right now i not see news like this have effect to make BTC price pump too much.

only news like exchange hack can make BTC price dump more than everything


indeed there has just been news of hacking on the exchange, and of course this is very detrimental. but we aspire if Russia provides good news, hopefully it will be real and prices will rise
jr. member
Activity: 252
Merit: 4
Well, I'm not really sure we can considerate this news source really trusted.
I think they are going to speculate too much on this USA-RUSS thing...

Forget about the truth of the news. Actually markets of crypto moves with the news. In the past I have seen many WRONG negative news which resulted in fud and dump of bitcoin prices. Before the time, the news is validated, the people already dump their coins which is not the right approach though.

Now with this positive news , it will be taken as a motivation by the investors and they will surely start buying more bitcoins before bitcoin price rises more. Overall I think we are moving towards positive direction and hope fully this year will be much better than the last year.


right now i not see news like this have effect to make BTC price pump too much.

only news like exchange hack can make BTC price dump more than everything

legendary
Activity: 3136
Merit: 1172
Leading Crypto Sports Betting & Casino Platform
Well, I'm not really sure we can considerate this news source really trusted.
I think they are going to speculate too much on this USA-RUSS thing...

Forget about the truth of the news. Actually markets of crypto moves with the news. In the past I have seen many WRONG negative news which resulted in fud and dump of bitcoin prices. Before the time, the news is validated, the people already dump their coins which is not the right approach though.

Now with this positive news , it will be taken as a motivation by the investors and they will surely start buying more bitcoins before bitcoin price rises more. Overall I think we are moving towards positive direction and hope fully this year will be much better than the last year.
full member
Activity: 1526
Merit: 111
Pepemo.vip
Yes, I read in an article about the Russian government that they would buy a lot of Bitcoin to save their Fiat reserves in Bitcoin, but until now I still doubt the news, because I believe it is only FOMO which aims to provoke panic buying.
at least with this news will provoke investor confidence to buy bitcoin, and this activity I feel is positive, especially when the news can be realized, of course it will provide a good global effect for the development of bitcoin. we know that Russia is one of the big countries that first legalized BTC. so that it will have a great effect on the world
legendary
Activity: 3710
Merit: 1170
www.Crypto.Games: Multiple coins, multiple games
It won't work. I mean bitcoin is great and all but Russia will not be capable of spending 10 billion dollars in bitcoin for anything of value, what are they going to do book hotels on Expedia and get the money back to their country ? The problem is not what money they use, it is the sanctions that do not allow them to do shady stuff and as long as they want to use money on shady stuff bitcoin is as close to as possible but at the time of cashing out it will still create a problem.

The day USA decides to freeze all assets of certain dangerous Russian people even tough whoever decided to freeze the assets will have their life on the line for such a thing it will also stop Russia to do shady stuff like they did with NRA. They literally got into an important NRA level position and gave money to shady politicians, this should always be held accountable and bitcoin won't help them on that.
member
Activity: 598
Merit: 10
Yes, I read in an article about the Russian government that they would buy a lot of Bitcoin to save their Fiat reserves in Bitcoin, but until now I still doubt the news, because I believe it is only FOMO which aims to provoke panic buying.
legendary
Activity: 1806
Merit: 1521
So the rumours were more or less true...Russia is choosing bitcoin(allegedly) over Trump. Guess Trump isn't gonna win the 2020 elections now.

True? How do you figure?

It seems like no one ever verified who the original source, Vladislav Ginko, really is. There's no proof that he works for RANEPA and his claims are unverified. More and more, this looks like the ramblings of one crazy person on Twitter being mistaken for official claims. I'm amazed the Telegraph published a story on it with such flimsy evidence.

Not sure how Trump ties into anything, but I always figured him for a one-term president. He quickly alienated his base and he's very ineffective and inarticulate. He makes a strong case for a Democrat to take office in 2021.
legendary
Activity: 2383
Merit: 1551
dogs are cute.
So the rumours were more or less true...Russia is choosing bitcoin(allegedly) over Trump. Guess Trump isn't gonna win the 2020 elections now.


This could all be a manipulative maneuver plotted by someone to drive people crazy like always. Although I would really love to see Russia or any (big)country to buy bitcoins to bypass sanction, just for the sake of improvising the overall productivity in the Bitcoin market, and make some real actual use of bitcoin as a currency.
jr. member
Activity: 252
Merit: 4
surely it fake news

if they want to buy BTC why need to tell everyone to make BTC pump.

maybe right not they have all BTC they want already
hero member
Activity: 658
Merit: 851
This has been shown to be fake news.

https://www.rbc.ru/economics/09/01/2019/5c36271a9a79472653e32608

I don't speak Russian but from what I got with Google Translator, Russians have changed $100 Billions into Yuans, Yens and Euros. There was no plan of changing them into BTC (or is this about another $100 Billions ?)

Plus :
https://cryptoslate.com/fake-news-russias-alleged-10-billion-bitcoin-investment/

legendary
Activity: 3514
Merit: 1280
English ⬄ Russian Translation Services
For example, why Russia (as well as China, for that matter) was buying gold in tonnes? Yes, you can use gold for international trade, and this is what the Soviets actually did in the 60s of the past century when they were paying in shiny metal for wheat they had been buying from Canada (just a little historical background), but it is not very convenient, mildly speaking. In this manner, gold is a currency of last resort. So what if they think that Bitcoin is going to become new gold in the coming years? I'm not saying that it necessarily will but they may think otherwise

if the fiat money system collapses---if the dollar collapses---where will governments turn to stabilize or reboot their currencies? given pre-fiat history, they'll probably use gold to back their money again, right? i figure that's why russia and china have been stockpiling gold. they're preparing for a post-dollar global economy. indeed, bitcoin could play an important role in that situation too

That was an easy guess

On the other hand, it is not quite in line with current policy of the Russian Central bank aimed at terminating dollar in Russia (so-called de-dollarization). So why would they care about the dollar if gold was to stabilize their currency? In other words, why would the Russian ruble be destabilized in the first place if it no longer depended on the American dollar? Indeed, you may say that you can't really expect such sophisticated reasoning from Russian financial authorities, and you might be right after all
legendary
Activity: 2436
Merit: 1362
I think until we see or hear official reports that russia are buying
up bitcoin we can take it as a "fabricated" story.

But it does open up the discussion of bitcoin being used in this
way to avoid sanctions.
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