Russia to invest into Bitcoins to mitigate US sanctions - Blockmanity

stompix

legendary

Activity: 2912

Merit: 6403

Blackjack.fun

Quote from: Newbie. on January 23, 2019, 03:36:30 AM

What if Vitalik Buterin is the creator of Bitcoin? I have a suggestion that this was his first trial project, after which he decided to create Ethereum.

Yeah, cause usually the new project after the trial run is worse in every way and need to be fixed every month in order to keep it afloat.

Quote from: Newbie. on January 23, 2019, 03:36:30 AM

After all, he is from Russia.

He was six when his parents moved to Canada, if he had stayed in Russia we would have no idea who he is.

Quote from: wendiar19 on January 23, 2019, 02:59:54 AM

Russia chooses the right path
Russia is very smart because

A country that sits on the biggest resources in the world but has the gdp per capita the same as Bulgaria and the average life expectancy as central Africa can't be considered a country is known for choosing smartly the right path.

Besides, it is all FAKE news!!!

Newbie.

newbie

Activity: 35

Merit: 0

What if Vitalik Buterin is the creator of Bitcoin? I have a suggestion that this was his first trial project, after which he decided to create Ethereum. If you talk like that, a lot begins to converge. After all, he is from Russia.

wendiar19

full member

Activity: 470

Merit: 102

Russia chooses the right path because when you invest in Bitcoin you can get a lot of profit when the price of Bitcoin rises Russia will become rich and surely the exchange rate will be very expensive, and Russia is very smart because it chooses to invest in coins that have very limited supply and high demand will enable them to benefit from the price movements of bitcoin.

Wind_FURY

legendary

Activity: 2898

Merit: 1823

Quote from: pooya87 on January 10, 2019, 11:08:38 PM

Quote from: sunsilk on January 10, 2019, 08:25:30 PM

Quote from: mohammedmattar on January 10, 2019, 04:37:52 PM

This seems to be unreliable
I tried to open the link but I can not open it

You can do a simple google research and articles will come out related to this news - rumor.
https://www.reddit.com/r/btc/comments/aead09/russian_economist_russia_will_buy_billions_of/
Russia Will Buy $10 Billion in Bitcoin, Ditch US Dollar and Become Huge Crypto Whale: Russian Economist

one thing about news sources is that you should know them first so that you can know how reliable they are at publishing the reality not some imaginary story that they pulled out of their own behind. the two sources you posted are "criptoinforme.com" and "dailyhodl.com", neither one of these can be considered reliable! both are click bait websites posting crap so that they can get more traffic.

On Twitter, Kyle Thorpe, a popular and honest Bitcoin journalist, said that he has yet to give up that the news might be true. Because, he said, that there wasn't an official denial from Vladislav Ginko either.

Argoo

sr. member

Activity: 2352

Merit: 245

Quote from: CryptoKush on January 11, 2019, 05:01:12 PM

I do not think that the Russian government will invest a lot of money in Bitcoin. I think they are attached to a conservative policy and not yet a plan and invest in Bitcoin.

It is not a matter of ordinary investment, but of the need to circumvent international sanctions. Russia will be forced to do it anyway, because the sanctions, it seems, will not be removed from it for a long time. With its reckless politics, Russia has driven itself into a dead end. And to buy and use cryptocurrency, most likely, there will be quiet, without much publicity of this event.

FedorIzmailov

jr. member

Activity: 238

Merit: 1

This would cause a huge surge in Bitcoin prices. probably it would be a good decision

CryptoKush

full member

Activity: 630

Merit: 101

I do not think that the Russian government will invest a lot of money in Bitcoin. I think they are attached to a conservative policy and not yet a plan and invest in Bitcoin.

stompix

legendary

Activity: 2912

Merit: 6403

Blackjack.fun

Quote from: Kakmakr on January 11, 2019, 12:56:47 AM

I smell some FUD here. Roll Eyes

How is this FUD?
So Russia investing in bitcoins, although we all know it won't happen, is bad but wall-street buying bitcoins is good.
Venezuela turning to bitcoin is good, Iran turning to bitcoin is good, but this one is FUD.

Seriously, where is the fear in this one?

Quote from: Kakmakr on January 11, 2019, 12:56:47 AM

The US government will ban Bitcoin if countries start using Bitcoin to bypass their sanctions and the same goes for countries in the EU and Africa.

So adoption will never end well in this scenario and we will never see global adoption. Undecided

Kakmakr

legendary

Activity: 3542

Merit: 1965

Leading Crypto Sports Betting & Casino Platform

I smell some FUD here. Roll Eyes

Do you think the Russian government would risk dumping Billions of Dollars into a technology that are not controlled by them? Most of the developers that are working on Bitcoin is not from Russia. Roll Eyes

The US government will ban Bitcoin if countries start using Bitcoin to bypass their sanctions and the same goes for countries in the EU and Africa.

It would either be a ban or 100% over-regulation to prevent this from happening. Roll Eyes

Irvinn

full member

Activity: 966

Merit: 104

Although this news seems to be unreliable, I don’t exclude the possibility that it will be true. Russia has long been looking for ways to circumvent international sanctions. That is why she helped Venezuela in creating their centralized cryptocurrency Petro. Even if the Russian government buys bitcoins, at the official level, they, as always, will deny it. Now the official authorities of Russia can not be trusted, the policy there is now built on lies.

pooya87

legendary

Activity: 3472

Merit: 10611

Quote from: sunsilk on January 10, 2019, 08:25:30 PM

Quote from: mohammedmattar on January 10, 2019, 04:37:52 PM

This seems to be unreliable
I tried to open the link but I can not open it

You can do a simple google research and articles will come out related to this news - rumor.
https://www.reddit.com/r/btc/comments/aead09/russian_economist_russia_will_buy_billions_of/
Russia Will Buy $10 Billion in Bitcoin, Ditch US Dollar and Become Huge Crypto Whale: Russian Economist

one thing about news sources is that you should know them first so that you can know how reliable they are at publishing the reality not some imaginary story that they pulled out of their own behind. the two sources you posted are "criptoinforme.com" and "dailyhodl.com", neither one of these can be considered reliable! both are click bait websites posting crap so that they can get more traffic.

bolbau

full member

Activity: 574

Merit: 102

dilemma, if Russia's decision to invest in bitcoin is only limited to political interests, maybe the bullish market won't last long enough. because bitcoin requires real support from the Russian government, not just an outlet to drop the dollar. I hope the competition that occurs in these two major countries does not have a negative effect on Bitcoin.

sunsilk

hero member

Activity: 3038

Merit: 634

Quote from: mohammedmattar on January 10, 2019, 04:37:52 PM

This seems to be unreliable
I tried to open the link but I can not open it

You can do a simple google research and articles will come out related to this news - rumor.
https://www.reddit.com/r/btc/comments/aead09/russian_economist_russia_will_buy_billions_of/
Russia Will Buy $10 Billion in Bitcoin, Ditch US Dollar and Become Huge Crypto Whale: Russian Economist

Quote from: teejayrichard2 on January 08, 2019, 12:25:43 PM

Russia investing in bitcoin is a good thing though am really not surprised as Russia is a country that is opened to technology without much sanctions as compared to US.

A country that will invest to bitcoin really is a good thing but I won't believe until official announcement will come out.

mohammedmattar

member

Activity: 448

Merit: 20

This seems to be unreliable
I tried to open the link but I can not open it
Through the words of guys, this is just speculation that has no basis
BTC can not be used as a partial replacement for the dollar now
He added that if the Russian government decided to invest in BTC, it would have a more elaborate plan than just leaking such a news story.

apilpirman.bisnis

member

Activity: 504

Merit: 10

I heard about Russia want to adopt bitcoin and make as legal transaction, we have support and hope many country will be available for using bitcoin or altcoin as payment transaction and make bitcoin or altcoin at higher price.

izzy13

jr. member

Activity: 225

Merit: 1

It is a relatively good news if it's true, but honestly I doubt that. Making a drastic economic and finance strategy so sudden is never recommended ever, furthermore for the nations like Russia. In the otherwise, if the news is true, then US surely would be under panic attack.

sudeshkumar

jr. member

Activity: 126

Merit: 1

THE ENERGY EFFICIENCY PROTOCOL

Dominance of the US dollar and the sanctions imposed by the US are the two factors which are paving way to the cryptomarket to establish itself in all over the world .It is not only Russia but other countries who have a lobby against US dollar may follow the same suite.

stompix

legendary

Activity: 2912

Merit: 6403

Blackjack.fun

Quote from: BuyBuyBitcoin on January 08, 2019, 09:29:40 PM

Adoption increased in Iran with their sanctions.

Russia would have been buying since 2016 if there were any truth to this though.

You realize the difference between people buying coins and a country buying coins?
If Amazon is going to accept bitcoins it won't mean the US is using bitcoins just like one county accepting bitcoin for tax payments in the US doesn't mean every company there deals with coins.

Plus I think people see sanctions as there are some guys monitoring transactions between companies and denying them...
Sanctions don't work like that.

Nobody is going to be able to stop a company in China from buying arms or selling oil to a company in North Korea, everyone could make those deals with bitcoins, with rubles, with yuans or with sheepskins, the problem is what comes after.
For a company that has a single purpose and that is trafficking it matters not, for a multinational one dealing with countries/companies/persons under sanctions means you must prepare for fines in the EU or the US and to say goodbye to a lot more than the profits you have made. Standard Chartered is going to pay another 1.5 billions for getting caught on top of the 800 million paid earlier. This is how sanctions work.

And bitcoin is not going to help you with this one.

Red-Apple

hero member

Activity: 1470

Merit: 655

it won't work!

for starters the volatility of bitcoin price is gong to be so damaging when you want to use bitcoin as a currency on large scale such that a country would be using it. imagine when you are importing something into the country and using bitcoin. and the price shoots up, no other party is going to pay you the same amount you agreed upon because they would be paying a lot more and we are talking about large amounts not 1-2 BTC!

then we have the problem with adoption which is the fact that bitcoin is not yet fully adopted so finding OTHERS who are going to be the trading partners using bitcoin is a tough task at this point.

avikz

legendary

Activity: 3080

Merit: 1500

The legality of bitcoin and cryptocurrencies in Russia is actually a mystery. Wiki says,

Quote

As of November 2016 declared, bitcoins are "not illegal" according to the Federal Tax Service of Russia.[53][54] In September 2017 Russia central bank head Elvira Nabiullina has said it is categorically against regulating cryptocurrencies as money, as a means by which payment can be made for goods and services, and against equating them with foreign currency.[55] Deputy Finance Minister of the Russian Federation Alexei Moiseev at the same time said it's "probably illegal" to accept cryptocurrencies payments.[56] However bitcoin market sites are blocked and in court decisions stated that bitcoin is a currency surrogate which is outlawed on the territory of Russian Federation.[57]

The above statement is self contradictory, means the legality of bitcoin in Russia is questionable! So I would that Russia will take such drastic step just to avoid US sanctions! It looks like a mare speculation to me!

Topic: Russia to invest into Bitcoins to mitigate US sanctions - Blockmanity (Read 421 times)