Russia to replace USD reserves with Bitcoin - page 2.

guoyu78

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Quote from: geegaw on May 16, 2019, 10:52:24 AM

Quote from: Supercrypt on May 15, 2019, 11:49:55 AM

Quote from: mangsitin on May 14, 2019, 05:40:03 AM

Quote from: soxxx on May 14, 2019, 01:48:21 AM

No ones talking about, but I honestly think Russia caused this pump....remember in January we heard they were going to start buying up Billions of Bitcoin in the spring? Well look what happened, Russia has $450 Billion in reserves that they had to spend because the sanctions were making it difficult, lets face it, they bought Bitcoin, a ton of Bitcoin.

Its not a coincidence, the rumors were just true, people labeled them fake because they didn't think it would be so public, well it was true.

Yes, I have also heard the news, that the Russian government will buy a lot of Bitcoin to replace their USD reserves, so if the price of Bitcoin today increases, I think that's because Russia buys Bitcoin with a lot.

It is just a rumor, the same way we have seen so many news in the market too such as tether and many had speculated that it could be the reason why its increasing the price of bitcoin, is the same way they have speculated other factors too like that of Russian own.

As smart as Russia is, they have not declared their support for cryptocurrency, and if they have program of such, they would not announce it and do it codedly the way others have probably been doing it too, but let’s hope the rumor is even true, I also believe that it will really help the price of bitcoin shoot up, but won’t be much that significant.

I do not have too much faith and hope that this rumor is true when its exact ratio seems to be too low because as we know, bitcoin always has an amazing fluctuation rate, and in that fluctuation, it always has huge risks, so if Russia wants to reserve, they will never choose bitcoin, that is a very dangerous action, they will definitely choose safe, it is USD. However, without reserve, they may still have accumulated and invested heavily in bitcoin and crypto when the field always generates too much profit, especially attracting money from different countries, no investment is wasteful

I totally agree with you on this, because of the volatility nature of bitcoin, it is still very risky to completely replaces a whole country’s reserve with bitcoin, until bitcoin gets to s stage where its value now becomes stable, and then people can confidently use it as store of value before they can really consider using it as reserve, but notwithstanding, it doesn’t mean they still cannot use part of it as investment, there is no investment that is not risky, and they might be wise enough to quickly use part of it to trade then take profit to increase their reserve. So if Russia is to participate in bitcoin, it would be for investment purpose alone.

entebah

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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.

ePesoInitiative

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Well, one of these days people will have to own cryptocurrencies to use it or to hold it. For now, we can't imagine crypto being mainstream. There was a time when fax machines were the norm, cellular phones were the toys of the rich, and the internet was mainly for emails.

The tech will evolve to meet halfway to the needs of everyone - that is one thing I'm sure of. So, accumulate everything.

stompix

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Blackjack.fun

So, at this point we can end the discussions for a while:

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

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!!!!

geegaw

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Quote from: Supercrypt on May 15, 2019, 11:49:55 AM

Quote from: mangsitin on May 14, 2019, 05:40:03 AM

Quote from: soxxx on May 14, 2019, 01:48:21 AM

No ones talking about, but I honestly think Russia caused this pump....remember in January we heard they were going to start buying up Billions of Bitcoin in the spring? Well look what happened, Russia has $450 Billion in reserves that they had to spend because the sanctions were making it difficult, lets face it, they bought Bitcoin, a ton of Bitcoin.

Its not a coincidence, the rumors were just true, people labeled them fake because they didn't think it would be so public, well it was true.

Yes, I have also heard the news, that the Russian government will buy a lot of Bitcoin to replace their USD reserves, so if the price of Bitcoin today increases, I think that's because Russia buys Bitcoin with a lot.

It is just a rumor, the same way we have seen so many news in the market too such as tether and many had speculated that it could be the reason why its increasing the price of bitcoin, is the same way they have speculated other factors too like that of Russian own.

As smart as Russia is, they have not declared their support for cryptocurrency, and if they have program of such, they would not announce it and do it codedly the way others have probably been doing it too, but let’s hope the rumor is even true, I also believe that it will really help the price of bitcoin shoot up, but won’t be much that significant.

I do not have too much faith and hope that this rumor is true when its exact ratio seems to be too low because as we know, bitcoin always has an amazing fluctuation rate, and in that fluctuation, it always has huge risks, so if Russia wants to reserve, they will never choose bitcoin, that is a very dangerous action, they will definitely choose safe, it is USD. However, without reserve, they may still have accumulated and invested heavily in bitcoin and crypto when the field always generates too much profit, especially attracting money from different countries, no investment is wasteful

rattle_rattle

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Activity: 119

Merit: 43

Quote from: Ibizugbe1 on May 16, 2019, 09:01:55 AM

Quote from: rattle_rattle on May 16, 2019, 08:12:38 AM

Russia is actually buying Gold (together with China).
And would give US another go at trying to ban BTC!

Bitcoin is free and any nation can buy into it and use it for any legitimate aim which is fine and acceptable. Why will US government try to ban bitcoin? they will only look for a way to play smart and stay on top. We may not know what the US government has been secretly planing about the imminent disaster of the green paper.

Associating BTC with RUS would mean immediate ban.

Ibizugbe1

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Quote from: rattle_rattle on May 16, 2019, 08:12:38 AM

Russia is actually buying Gold (together with China).
And would give US another go at trying to ban BTC!

Bitcoin is free and any nation can buy into it and use it for any legitimate aim which is fine and acceptable. Why will US government try to ban bitcoin? they will only look for a way to play smart and stay on top. We may not know what the US government has been secretly planing about the imminent disaster of the green paper.

rattle_rattle

member

Activity: 119

Merit: 43

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!

upsidedown75

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Quote from: Mpamaegbu on May 15, 2019, 08:46:50 AM

I seriously doubt this, not that I won't be happy anyway if that news were true. Of course, I will because that's a boost to Bitcoin. But I doubt if Russia will go the way of something as unstable and risky as cryptocurrency as an alternative to dollar. It isn't only Russia having a hard one with the US, China is also currently enmeshed in a trade war with the US. It's really a hard nut to crack. However, let's continue to enjoy the momentary rise of Bitcoin price no matter where the new pump is coming from.

What makes you think it can be impossible for Russia to get involved in cryptocurrency, have you ever seen where government hire experts to trade forex for them using the government reserve? They easily do this openly because forex has regulation, but since crypto is yet to get a regulation, each government may also be doing these trades secretly and they also understand the risk behind it.

That is why they will never use any money that will strongly affect the nation. Have you even ever asked yourself one question, what if this satoshi we are even saying is a code name gives to a Nation, what if it’s one country that really has this idea?

Supercrypt

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Quote from: mangsitin on May 14, 2019, 05:40:03 AM

Quote from: soxxx on May 14, 2019, 01:48:21 AM

No ones talking about, but I honestly think Russia caused this pump....remember in January we heard they were going to start buying up Billions of Bitcoin in the spring? Well look what happened, Russia has $450 Billion in reserves that they had to spend because the sanctions were making it difficult, lets face it, they bought Bitcoin, a ton of Bitcoin.

Its not a coincidence, the rumors were just true, people labeled them fake because they didn't think it would be so public, well it was true.

Yes, I have also heard the news, that the Russian government will buy a lot of Bitcoin to replace their USD reserves, so if the price of Bitcoin today increases, I think that's because Russia buys Bitcoin with a lot.

It is just a rumor, the same way we have seen so many news in the market too such as tether and many had speculated that it could be the reason why its increasing the price of bitcoin, is the same way they have speculated other factors too like that of Russian own.

As smart as Russia is, they have not declared their support for cryptocurrency, and if they have program of such, they would not announce it and do it codedly the way others have probably been doing it too, but let’s hope the rumor is even true, I also believe that it will really help the price of bitcoin shoot up, but won’t be much that significant.

Indamuck

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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.

Mpamaegbu

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I seriously doubt this, not that I won't be happy anyway if that news were true. Of course, I will because that's a boost to Bitcoin. But I doubt if Russia will go the way of something as unstable and risky as cryptocurrency as an alternative to dollar. It isn't only Russia having a hard one with the US, China is also currently enmeshed in a trade war with the US. It's really a hard nut to crack. However, let's continue to enjoy the momentary rise of Bitcoin price no matter where the new pump is coming from.

GregH37

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Quote from: mu_enrico on May 13, 2019, 01:29:56 AM

Quote

According to a high-profile Russian economist, this could happen in the coming months.

https://toshitimes.com/russia-plans-to-replace-u-s-dollar-with-bitcoin/

Who?

This article is an example of bad journalism in cryptocurrency's media. This story has no basis, only a rumor, and speculation. If the motivation behind this article is to give positive hype to buy BTC, then it is a success!

Nice!

You are right, it might be a rumor, and behind every rumor, there lies a truth, so we should not completely rule out the possibility, the only thing that I am sure of is that if Russia was to get involved and many other countries, they cannot openly declare their support for it.

I want to believe that this is just a speculation, and it’s not so bad because speculation is what the market breaths on, we just need to carefully chose what we believe in and make our own research first before responding, some of these speculations are there to cause FOMO, while some are there to create panic.

pishite

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Quote from: mu_enrico on May 14, 2019, 09:32:45 PM

Quote from: pishite on May 14, 2019, 03:03:58 PM

Many Russian businessmen hold their funds in Bitcoin.

Who?

Quote from: pishite on May 14, 2019, 03:03:58 PM

For example, Herman Greff, director of Sberbank.

Quote

Sberbank of Russia CEO German Gref admitted to having a small amount of cryptocurrency — bitcoin, he said Thursday at Finnopolis 2015 conference.
"I am one of the victims, I have a small amount of bitcoins," he said

Source: http://tass.com/economy/821750

I'm just saying that you need proof more than rumors from crypto media. Also, it would be best if you had a logical construct, to guide your thinking. For example, even if your statement is true "Many Russian businessmen hold their funds in Bitcoin," it doesn't mean that what OP said is true "Russia will replace its USD reserves with Bitcoin."

Nobody has direct evidence! We only operate with facts from newspapers, TV or the Internet. But cryptocurrency is used for trading and buying goods, in order to circumvent the imposed sanctions, on some industries. For example, for the purchase of equipment from Japan for construction, and there, as we know, Bitcoin is allowed.

Netnox

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Quote from: soxxx on May 14, 2019, 01:48:21 AM

No ones talking about, but I honestly think Russia caused this pump....remember in January we heard they were going to start buying up Billions of Bitcoin in the spring? Well look what happened, Russia has $450 Billion in reserves that they had to spend because the sanctions were making it difficult, lets face it, they bought Bitcoin, a ton of Bitcoin.

Its not a coincidence, the rumors were just true, people labeled them fake because they didn't think it would be so public, well it was true.

What a load of BS!!!

The sanctions and embargoes are applicable only to certain sectors within the Russian economy. The Russian banking system is still connected to the SWIFT, and until that remains in place they don't need to do any sanction evasion. What you are claiming can be true with North Korea. The sanctions against DPRK cover almost all the sectors and it is difficult to make international banking transactions for them. But then, North Korea doesn't have the funds needed to manipulate the BTC prices.

passwordnow

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With the title, it seems to be positive but checking detail by detail if its truly a good news, you will start doubting on where the facts came from and who are those people that tells it positively. We don't actually know what's the exact position of the Russian government when it comes to crypto but as long as they won't ban it, I think that's already positive. I doubt it that Russia would replace their USD reserves for bitcoin. They may adopt and start using bitcoin or advertise it to their constituents but I still doubt the exact thought of the article or else it's an editorial.

mu_enrico

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Quote from: pishite on May 14, 2019, 03:03:58 PM

Many Russian businessmen hold their funds in Bitcoin.

Who?

Quote from: pishite on May 14, 2019, 03:03:58 PM

For example, Herman Greff, director of Sberbank.

Quote

Sberbank of Russia CEO German Gref admitted to having a small amount of cryptocurrency — bitcoin, he said Thursday at Finnopolis 2015 conference.
"I am one of the victims, I have a small amount of bitcoins," he said

Source: http://tass.com/economy/821750

I'm just saying that you need proof more than rumors from crypto media. Also, it would be best if you had a logical construct, to guide your thinking. For example, even if your statement is true "Many Russian businessmen hold their funds in Bitcoin," it doesn't mean that what OP said is true "Russia will replace its USD reserves with Bitcoin."

pishite

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Quote from: South Park on May 14, 2019, 01:46:10 PM

Quote from: mu_enrico on May 13, 2019, 01:29:56 AM

Quote

According to a high-profile Russian economist, this could happen in the coming months.

https://toshitimes.com/russia-plans-to-replace-u-s-dollar-with-bitcoin/

Who?

This article is an example of bad journalism in cryptocurrency's media. This story has no basis, only a rumor, and speculation. If the motivation behind this article is to give positive hype to buy BTC, then it is a success!

Nice!

I agree, if any powerful country was really accumulating bitcoin then the price should be many times higher than what we are seeing now since countries have an unlimited amount of money at their disposal that they can print it at will, so to me this is only a rumor with no basis at all in the reality that we are experiencing and if a country like Russia is really looking to replace the dollar they should be looking at the market of gold and silver which is many times bigger than the market of cryptocurrencies.

Many Russian businessmen hold their funds in Bitcoin. For example, Herman Greff, director of Sberbank. Nobody will talk about it openly. And Bitcoin is really a good coin to bypass the sanctions that many countries, such as Japan, support.

South Park

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Quote from: mu_enrico on May 13, 2019, 01:29:56 AM

Quote

According to a high-profile Russian economist, this could happen in the coming months.

https://toshitimes.com/russia-plans-to-replace-u-s-dollar-with-bitcoin/

Who?

This article is an example of bad journalism in cryptocurrency's media. This story has no basis, only a rumor, and speculation. If the motivation behind this article is to give positive hype to buy BTC, then it is a success!

Nice!

I agree, if any powerful country was really accumulating bitcoin then the price should be many times higher than what we are seeing now since countries have an unlimited amount of money at their disposal that they can print it at will, so to me this is only a rumor with no basis at all in the reality that we are experiencing and if a country like Russia is really looking to replace the dollar they should be looking at the market of gold and silver which is many times bigger than the market of cryptocurrencies.

mangsitin

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Quote from: soxxx on May 14, 2019, 01:48:21 AM

No ones talking about, but I honestly think Russia caused this pump....remember in January we heard they were going to start buying up Billions of Bitcoin in the spring? Well look what happened, Russia has $450 Billion in reserves that they had to spend because the sanctions were making it difficult, lets face it, they bought Bitcoin, a ton of Bitcoin.

Its not a coincidence, the rumors were just true, people labeled them fake because they didn't think it would be so public, well it was true.

Yes, I have also heard the news, that the Russian government will buy a lot of Bitcoin to replace their USD reserves, so if the price of Bitcoin today increases, I think that's because Russia buys Bitcoin with a lot.

Topic: Russia to replace USD reserves with Bitcoin - page 2. (Read 1026 times)