USD is really only the global reserve currency because of how strong the United States military is. Its backed by terror and not sound economics. I have suspected that many governments around the world have started to mine and accumulate btc themselves in case the dollar collapses.
There are many reasons why the USD is still the reserve currency of the world, to begin with a reserve currency is not something that can be replaced quickly, it is a slow process and it is happening as we speak, second the US economy for a long time was the only economy large enough and so it was convenient to use the dollar to settle debts and contracts, another reason was that the dollar was as good as gold for a long time but this changed during the 70s and now is not backed by anything. 
Topic: Russia to replace USD reserves with Bitcoin (Read 1056 times)
Due to US sanctions , Russia may well start to invest its reserves in Bitcoin. Ive heard this rumour for months, but it looks more and more logical and likely.
https://toshitimes.com/russia-plans-to-replace-u-s-dollar-with-bitcoin/
This article sums it up pretty well and if it does become true, it will surely bring a very strong bullish trend .
https://toshitimes.com/russia-plans-to-replace-u-s-dollar-with-bitcoin/
This article sums it up pretty well and if it does become true, it will surely bring a very strong bullish trend .
For a country or government, i am little doubt about this news. Bitcoin could be a digital asset but to be government reserve, i think its too far and need more time because for government, its more safe to collect more gold than bitcoin. Bitcoin is risky assets compare gold and gold already known for centuries
When it comes to something that has to do with national issue, one man cannot make such decision alone, and I am sure that In making decision to do so, a lot of members of government will surely oppose it, and until there is general regulation, countries may not fully engaged themselves with crypto.
Russia is actually buying Gold (together with China).
They are buying Gold because is a proven store of Value.
I can see the allocating a few percentage points of buying digital gold.
This would be a lot of sense for them, and had a massive impact on BTC markets.
And would give US another go at trying to ban BTC!
They are buying Gold because is a proven store of Value.
I can see the allocating a few percentage points of buying digital gold.
This would be a lot of sense for them, and had a massive impact on BTC markets.
And would give US another go at trying to ban BTC!
I will believe that many people in the Russian government hold Bitcoins, but I do not think that they will turn the whole country to Bitcoin. Gold - yes. Cryptocurrencies - maybe, but mostly for their own needs.
SO if they have to put money In crypto, which I don’t dispute the fact that they can take that risk because they have the money to do so. Imagine them investing up to $100 million dollars, do you think it will affect them in any way? This is money 1 man in some government steals and doesn’t affect them, so they don’t have to change their reserve to bitcoin for them to really make money from cryptocurrency.
Whatever happens or whatever happened, the current debt-based world order cannot continue any longer. The world's financial system cannot sustain itself indefinitely. The US government just cannot create dollars out of nothing. Something has to give eventually. Russia, China and some other nations knows this and are preparing for it.
Due to US sanctions , Russia may well start to invest its reserves in Bitcoin. Ive heard this rumour for months, but it looks more and more logical and likely.
https://toshitimes.com/russia-plans-to-replace-u-s-dollar-with-bitcoin/
This article sums it up pretty well and if it does become true, it will surely bring a very strong bullish trend .
Fake news. The source of this rumor, the "Russian economist", is not working in government. Basically, he is just a teacher.https://toshitimes.com/russia-plans-to-replace-u-s-dollar-with-bitcoin/
This article sums it up pretty well and if it does become true, it will surely bring a very strong bullish trend .
So when I see some of these news, I accept it whole heatedly but don’t act on it because I know that some of them are not real, most of the news you have seen, how many of the people involved has really come out to official make a statement for or against it, none of them, and as they say, everything becomes a rumor until it is confirmed to be true.
Russia is actually buying Gold (together with China).
They are buying Gold because is a proven store of Value.
I can see the allocating a few percentage points of buying digital gold.
This would be a lot of sense for them, and had a massive impact on BTC markets.
And would give US another go at trying to ban BTC!
They are buying Gold because is a proven store of Value.
I can see the allocating a few percentage points of buying digital gold.
This would be a lot of sense for them, and had a massive impact on BTC markets.
And would give US another go at trying to ban BTC!
I will believe that many people in the Russian government hold Bitcoins, but I do not think that they will turn the whole country to Bitcoin. Gold - yes. Cryptocurrencies - maybe, but mostly for their own needs.
Due to US sanctions , Russia may well start to invest its reserves in Bitcoin. Ive heard this rumour for months, but it looks more and more logical and likely.
Countries who have sanctions could make use of bitcoin to overcome those restrictions and countries like Iran, Russia and many other countries could take advantage of that and have a trade with other countries, i am not sure how they will replace the entire dollar reserve which is not a smart move in any way but then looking forward if there is a reserve for the virtual currency, then it will be a good move to over come those restrictions.
If indeed this is true then this is a very good thing for the future of bitcoin because the country has entrusted their investment place in bitcoin which is still a lot of doubt by developing countries, and I really hope that bitcoin is accepted in all circles of society and many entrepreneurs invest in this bitcoin
yes, in my opinion it's just fake news because it won't be possible for a country the size of Russia to replace USD reserves with bitcoin. of course if it really happened the whole world would be surprised by this and surely bitcoin would soar.
It is a fake news and I am surprised that this thread is alive after so many days. This is not just a lie, but it is a lie that even retarded people will have difficulty in believing. Forget about Russia, not even libertarian countries such as Switzerland will be ready to convert a part of their forex reserves to a volatile and decentralized asset, such as Bitcoin.
Admins, please lock this thread. No point in beating the dead horse again and again.
Due to US sanctions , Russia may well start to invest its reserves in Bitcoin. Ive heard this rumour for months, but it looks more and more logical and likely.
https://toshitimes.com/russia-plans-to-replace-u-s-dollar-with-bitcoin/
This article sums it up pretty well and if it does become true, it will surely bring a very strong bullish trend .
Fake news. The source of this rumor, the "Russian economist", is not working in government. Basically, he is just a teacher.https://toshitimes.com/russia-plans-to-replace-u-s-dollar-with-bitcoin/
This article sums it up pretty well and if it does become true, it will surely bring a very strong bullish trend .
Due to US sanctions , Russia may well start to invest its reserves in Bitcoin. Ive heard this rumour for months, but it looks more and more logical and likely.
https://toshitimes.com/russia-plans-to-replace-u-s-dollar-with-bitcoin/
This article sums it up pretty well and if it does become true, it will surely bring a very strong bullish trend .
Fake news. The source of this rumor, the "Russian economist", is not working in government. Basically, he is just a teacher.https://toshitimes.com/russia-plans-to-replace-u-s-dollar-with-bitcoin/
This article sums it up pretty well and if it does become true, it will surely bring a very strong bullish trend .
Due to US sanctions , Russia may well start to invest its reserves in Bitcoin. Ive heard this rumour for months, but it looks more and more logical and likely.
https://toshitimes.com/russia-plans-to-replace-u-s-dollar-with-bitcoin/
This article sums it up pretty well and if it does become true, it will surely bring a very strong bullish trend .
Fake news. The source of this rumor, the "Russian economist", is not working in government. Basically, he is just a teacher.https://toshitimes.com/russia-plans-to-replace-u-s-dollar-with-bitcoin/
This article sums it up pretty well and if it does become true, it will surely bring a very strong bullish trend .
Due to US sanctions , Russia may well start to invest its reserves in Bitcoin. Ive heard this rumour for months, but it looks more and more logical and likely.
https://toshitimes.com/russia-plans-to-replace-u-s-dollar-with-bitcoin/
This article sums it up pretty well and if it does become true, it will surely bring a very strong bullish trend .
Fake news. The source of this rumor, the "Russian economist", is not working in government. Basically, he is just a teacher. https://toshitimes.com/russia-plans-to-replace-u-s-dollar-with-bitcoin/
This article sums it up pretty well and if it does become true, it will surely bring a very strong bullish trend .
Due to US sanctions , Russia may well start to invest its reserves in Bitcoin. Ive heard this rumour for months, but it looks more and more logical and likely.
https://toshitimes.com/russia-plans-to-replace-u-s-dollar-with-bitcoin/
This article sums it up pretty well and if it does become true, it will surely bring a very strong bullish trend .
https://toshitimes.com/russia-plans-to-replace-u-s-dollar-with-bitcoin/
This article sums it up pretty well and if it does become true, it will surely bring a very strong bullish trend .
For a country or government, i am little doubt about this news. Bitcoin could be a digital asset but to be government reserve, i think its too far and need more time because for government, its more safe to collect more gold than bitcoin. Bitcoin is risky assets compare gold and gold already known for centuries
I agree! I think its too early to tell that Russia is contemplating on this matter since USD is an international currency and its not easy to replace or implement any replacement to it especially if we are talking with it involving multinational economies. Unless BTC becomes a popular alternative to USD and mass adoption is full blown, then I think Russia maybe getting a hard time doing it or could suffer ill effects related to its alleged plan if they try to pursue it.
I doubt Russia will openly invest in bitcoin, and they are probably not investing in it at this time. We do know Russia is investing heavily into gold to diversify away from the U.S. dollar. Also, it's entirely possible that Russian oligarchs are accumulating massive amounts of bitcoin at this time. Perhaps as bitcoin gains greater legitimacy in the future Russia will use it as a means of bypassing sanctions.
They all have their covert operations, and so long they have not legalized bitcoin, they will never openly declare their intention to do so, but that does not mean that they are not investing or trading with it underground.If government can trade forex and also invest in GOLD with little volatility, now that they have got the chance to make enough money through BTC volatility, they will sure do it using experts, and where will they get the money they are using from if not from the reserve, so it is possible someone somewhere got exposed to the secret which they will deny.
I agree that it's entirely possible that Russia is covertly amassing bitcoin to bypass U.S. sanctions. There is speculation that the recent run-up of bitcoin has been driven by sovereign buying, which if true would not shock me. If I had to guess, it's a nation other than Russia doing the buying, but it would not shock me if it turned out to be Russia.
Due to US sanctions , Russia may well start to invest its reserves in Bitcoin. Ive heard this rumour for months, but it looks more and more logical and likely.
https://toshitimes.com/russia-plans-to-replace-u-s-dollar-with-bitcoin/
This article sums it up pretty well and if it does become true, it will surely bring a very strong bullish trend .
https://toshitimes.com/russia-plans-to-replace-u-s-dollar-with-bitcoin/
This article sums it up pretty well and if it does become true, it will surely bring a very strong bullish trend .
For a country or government, i am little doubt about this news. Bitcoin could be a digital asset but to be government reserve, i think its too far and need more time because for government, its more safe to collect more gold than bitcoin. Bitcoin is risky assets compare gold and gold already known for centuries
So, at this point we can end the discussions for a while:
https://www.fontanka.ru/2019/05/15/073/
google translate:
So, Russian authorities don't give a damn about BTC, probably less than 0.001% of what people here care about what Russia is planning to do. Well, it's nothing!!!!
Russian government will not do this one because they know that cryptocurrency can also be control by any other country which makes them more on risk. The volatility keeps the country away on cryptocurrency, but I don't agree that cryptocurrency has decreased on popularity because bitcoin are still doing a great job to pump and soon the market will see that one. Russia will never do this kind of decision, they can't just leave USD reserve. https://www.fontanka.ru/2019/05/15/073/
google translate:
Quote
Legislative regulation of cryptocurrency is no longer a priority for the state, said Russian Prime Minister Dmitry Medvedev. The excitement around Bitcoin subsided, although it is too early to bury it.
“Nowadays, the popularity of cryptocurrency has decreased, and regulatory issues may not be so relevant,” Medvedev said on May 15, speaking at a plenary session during the St. Petersburg International Legal Forum
“Nowadays, the popularity of cryptocurrency has decreased, and regulatory issues may not be so relevant,” Medvedev said on May 15, speaking at a plenary session during the St. Petersburg International Legal Forum
So, Russian authorities don't give a damn about BTC, probably less than 0.001% of what people here care about what Russia is planning to do. Well, it's nothing!!!!
Yes, this is good news for the progress of Cryptocurrency, because big countries like Russia will buy as much Bitcoin as possible, I hear this from some news and articles that I read, I hope this increase in Bitcoin prices will continue to have a positive impact on Cryptocurrency and its use.
Hahahah, how can it be when they have still not regulated cryptocurrency, you should know that most government are so strict about their own law and would not engage in what they have not openly declared to the public. This story of Russia is just going to be a rumor and I dint see the possibility of them REPLACING their reserve with bitcoin.I dint even see their investment in bitcoin as positive because they will only end up manipulating the market and crashing it below the normal price, if they put in bitcoin to the tune of $10m, and it yield them 50% increase, do you think they will not sell off all their holdings to take profit?
Yes, this is good news for the progress of Cryptocurrency, because big countries like Russia will buy as much Bitcoin as possible, I hear this from some news and articles that I read, I hope this increase in Bitcoin prices will continue to have a positive impact on Cryptocurrency and its use.
This can probably be the reason for the next price increase of bitcoin but only if the rumors were turn out to be true . Like what others are saying , its not easy to replace a local currency like usd to be fully replaced by a cryptocurrency such as bitcoin because i think not all can be able to use bitcoin normally ,what about other people that dont have an adequate knowledge ? I think bitcoin will still remain as an alternative currency next to fiats 
All this is just talk and politics. It is obvious that it will not be easy to switch from dollar to bitcoin, if only because Russia is now not even ready to take such a step; But money laundering through cryptocurrency is going on there even among government officials.
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