Topic: Russia Reveals Plans To Make Its Own National Cryptocurrency (Read 1549 times)

Russian government doesn't need that

Apart from that, there are already quite a few virtual monies in Russia (e.g. Yandex.Money or Qiwi Wallet), which are just payment processors working seemingly outside the banking system while in reality they are backed by regular banks (Sberbank and Qiwi bank, respectively). It is still the same Russian rubles underneath, so introducing Rucoin will change nothing in this respect. The only direction in which it could potentially change something would be introducing some novice methods of payments, but it will have to face tough competition anyway

Is hard to understand because you think of it like a stupid altcoin that is subject to pumps and dumps on polofail.
It will not be volatile. Simple.

It will be the equivalent of one ruble.
Just like how you deposit 100 ruble on you debit card you buy 100 rucoins.
Why would it fluctuate? It will essentialy be emoney. Nothing to trade nothing to mine nothing to pump and dump.

Check ecuador's dinero

Whats hard to understand is I buy 100 rubles of whatevercoin and that 100 rubles worth become very volatile in the crypto market. It would be better to hold the 100 rubles in BTC.

as ı know etherıum and waves are based from russıa. they allready supportıng crypto currencıes. especıaly waves gettıng huge support and shasha tryıng to make a legal platform by speakıng russıan goverment. and as ı know a polıtıc party of russıa has a token planıng at waves platform allready.

We all know it's not gonna happen, but anyway news like these drive the prices crazy. Let them be.

This is outright bullshit

And I'm really fascinated why people continue to believe in that bullshit. At first it had been China with their China coin for a few years, and many folks seriously believed that the Chinese government was really going to make their own cryptocurrency. And where is that cryptocurrency as well as those people? Now Russia seems to have come into spotlight, and people will likely start speculating for another couple of years about a new cryptocurrency to be issued by the Russian government. Every major government already has their own cryptocurrency, and it is called fiat

What is exactly nice about this? They are developing their own altcoin, this is nothing to do with bitcoin, other than that they will base their invention on blockchain tech.
Bitcoin won't gain anything here, it will be maybe mentioned here and there that there is "bitcoin tech" used, but that's it.
State controlled cryptocurrency is not something we would like to have :/

Nice to hear about that. It will help the world know more about bitcoin but I do not think that this coin will be successful in the Russia or any other country because I believe that it is not the purpose of cryptocurrency

i am with you too because as long as we can make money from the coin from the country like what rusia did, we can still following the coins but if the coins is not promising again, then i am sure that people don't want to followed or used the coins. its natural for one government that wants to be superior among the other but they need to have many things to show and proof that they are really capable to be the best one.

I have no problem with countries trying to create their own National cryptocurrencies what I find distasteful is government trying to own them. Man what is wrong with the world? Such level of suspicions & insecurity. Everything is politicized thesedays.

What government will fail massively at is trying to stop people from using Cryptocurrencies of their choice anywhere in the World

And to think Russia apparently tried to ban it a few years ago. They definitely saw the benefit to cryptocurrency and want in on the action. Whether it would be successful is a different matter though.

Being from a government, I expect it to be highly-centralized and not a lot of people might like that. If it's just a digital version of their fiat, then I see little innovation save for simply using a blockchain. I suppose it'd be useful to stopping money laundering if they use it to replace their paper bills though.

Yes, I was reading this yesterday on CoinDesk but I don't how are they going to operate the "RuCoin" does it have any Russian or international law to regulate the coin for oversea users or what??? or they're going to release it as another form of Altcoin, dude???

Do you think that you know much more?

McDonalds, KFC's (and "and many other western food outlets") just like iPhones, iPads, iWhatNots and similar stuff don't mean a thing if the economy of a country is going down. You talk with cliches from 80's-early 90's, which no longer mean anything and can't fool anyone anymore. Putin is not a fool himself but his lust for power is playing an evil or even devilish trick on him. Any society under such a ruler inevitably starts rotting down from inside, people get bored, they lose incentive to do anything just like it happened in the former USSR. Just in case, the space taxi is the legacy of the Soviets, not modern Russia's invention or development, which itself was a result of 1960's when there was a general upswing and optimism in the society after Stalin's death

They're inadvertently advertising for Bitcoin though if their intention is to disrupt BTC - which actually I don't believe is the case. They are going to profit off the crypto hype.

If Russia does decide to step forward to build a Cryptocurrency that the citizens could use then I think that they actually have a chance to cause a bit of disruption within the community of Bitcoin.
 
Russia been talking about making a Cryptocurrency for a couple of years now yet nothing really happened. It's kind of like those articles being posted about people receiving multi-millions of dollars worth of investments so they could work on Blockchain development though nothing really happens after that.

I don't think that any government sponsored coin could be successful, not in Russia or anywhere else. This is kind of rasponse to Bitcoin success but they can't compete. With this Russia is probably trying to show that they are not against cryptocurrencies but it has to be under government control. So Putin style.

seems you may not know much of russia.
you do know russia has many trade deals with the west.
yep
you can get iphones, computers, cars, kids toys,
yep kids in russia are playing with 'fidget spinners' (current western craze), hoverboards, and everything else the west plays with
yep russia has mcdonalds, KFC and many other western food outlets
if you think america hates russia, your wrong.. america is actually paying russia to send astronauts into space (taxi to international space station)

i find it strange how people compare russia to north korea. i guess it may be due to the fox news hypnotism and reddit regurgitation of fud

but with all that said. thinking that many countries governments wont bother using blockchain, is like the titanic thinking the iceburg wont do any damage.

its better to know the real situation, than to pretend there is not a problem. especially bad when you see people hide a problem using quotes of people who have not been alive for the last few years, decades, century and them taking such quotes out of context.

mark twains context is. dont take things on face value.. do your own research beyond what you see or hear

if you really want to do some research into what governments are doing in regards to blockchain.. here is a key word to start your research 'hyperledger'

have a nice day

Another plan again for their own national cryptocurrency? I think it will not work like bitcoin unless it is centralized and they banned bitcoin from their country so their countrymen will be forced to use their national cryptocurrency but overall it is not a big deal for bitcoin users because just create as much currency as you want but nothing can stop bitcoin.

They understand everything

And they are not really going to create any government backed coprocoin. These are just words, empty words, which lost their meaning long ago. Mark Twain said it over 100 years ago that you shouldn't believe anything of what you hear (and half of what you see). The Russian economy is stagnating at best now (even according to official reports), and Putin's regime (or should I rather say clique?) consisting mostly of oligarchs should get themselves busy with solving more mundane issues that the country is going to face in the nearest future (and is already facing). The best they can do is just go away

ok.. guess some people need to check sources
in short nothing new.

1. aurora coin was not government created it was citizen created and tried to get mainstream adoption..
2. russia and all other government based efforts to get into 'blockchain' are done via hyperledger.. yep that includes russia.

https://www.cryptocoinsnews.com/russias-biggest-bank-joins-hyperledger-blockchain-project/