Russia to replace USD reserves with Bitcoin - page 3.

BlueStackz

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Quote from: incomefromcoins on May 12, 2019, 02:50:28 AM

Russia government is crypto friendly they are forming crypto law in the coming future that doesn't mean they change their country reserve to bitcoin i strongly belive it is false news

It is possible they change it entirely in future when the cryptocurrency system has been fully established and accepted but not at this early stage. One thing I am really certain of is that we have some smart countries that are using bitcoin to increase their reserve, which will be the wisest thing to do now that some government are not yet in the loop.

Imagine Russian government using 5 million dollars from their reserve to buy bitcoin when it was $5000, which means that within this short increase, they would have increased their reserve with about 2 million dollars extra without much stress. Do you know what project that will solve in their country?

soxxx

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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.

LUCKMCFLY

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Quote from: Mbitr on April 30, 2019, 12:37:11 PM

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 .

Russia has a ruler who is actually very clever and intelligent, some part of his money inflows or all his money may not leave him in the hands of bitcoin, because volatility is one of the reasons for Non-Trust on the part of all the governments and the banking in the world, maybe it is considering a part of the money to leave it in bitcoin because it knows that if in a given moment the bitcoin will begin to rise and put in bullish tendency, according to the phases of the market we are in the phase of accumulation where it is ideal to buy and to sell would be ideal to do it in the distribution phase, maybe, they are thinking about that possibility.

But being a government that has many specialists in the economic, not everything should be left in Bitcoin, there must be other investments, gold represents much more confidence and provide security and a great support based on liquidity, more than the bitcoin I think governments and banking every day increase their investments in gold, also can take refuge there in the face of a possible global crash of the economy, which is a scenario that every government in the world has raised and do not want to stay with their hands empty.

Netnox

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Quote from: andronikos on May 12, 2019, 12:57:55 PM

Actually I believe there are lots of countries who accumulate btc. They just don't want us to know. Crypto will be the future of world currencies. This is for sure.

Do you have any proof for this? The forex reserves are regularly audited and the details are published by almost all of the central banks around the world (obviously there are exceptions such as China). In case some country is accumulating Bitcoin, then it is very hard to keep it as a secret. In one way or another, the press will come to know about it.

shinharu10282016

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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 believe this is one of the reasons this article is published. Probably paid to increase some inflows to the current market situation. Some kind of a money maker that wants some nice profit out of a very short rally of cryptocurrency prices.

Febo

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Quote from: Netnox on May 12, 2019, 04:35:12 AM

Quote from: incomefromcoins on May 12, 2019, 02:50:28 AM

Russia government is crypto friendly they are forming crypto law in the coming future that doesn't mean they change their country reserve to bitcoin i strongly belive it is false news

The Russian government is not that friendly to the cryptos. If you remember, BTC-e (which was set up by two Moscow-based Russian IT experts) was forced to shift their operations out of that country due to harassment from the authorities. Things have improved a bit, but still it is not that easy to set up a bitcoin-based business in Russia.

Now coming to the Toshi Times, it is just another third rate media outlet, which prints fake news in order to get free publicity and revenue. You can find a number of such outlets here, and none of them have any credibility or honour.

Well that exchange once out of Russia washed tons for MtGox Bitcoins and is closed now and owners in prison. So you can imagine why they were pushed out of Russia. They probably break laws in past also.

shesheboy

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Quote from: Barbut on May 13, 2019, 02:37:10 AM

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

~ snip

News are mostly full of speculations, rarely I see some good article in any cryptocurrency oriented news. I transferred my attention on twitter mostly, steemit a very often, telegram. Many times I see it first on twitter, than I see article where they quote people from twitter (its what journalism is about now). I follow many people who have good influence in crypto community, they are better informed than many crypto news.

not all on social media are legit . those popular personalities that you are following are only controlled by a fan or its only a dummy account . news are still a better source for information but as long as you are reading the news on a reputable source and not only on just random news sites that are not popular or dont have a reputation yet . anyway , back on the origial topic . its nice to hear that russia is now starting a cashless society , before im saying that its not possible but it is really possible after i see this .

Barbut

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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!

News are mostly full of speculations, rarely I see some good article in any cryptocurrency oriented news. I transferred my attention on twitter mostly, steemit a very often, telegram. Many times I see it first on twitter, than I see article where they quote people from twitter (its what journalism is about now). I follow many people who have good influence in crypto community, they are better informed than many crypto news.

mu_enrico

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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!

nur rochid

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Quote from: andronikos on May 12, 2019, 12:57:55 PM

Actually I believe there are lots of countries who accumulate btc. They just don't want us to know. Crypto will be the future of world currencies. This is for sure.

they will take advantage of the silence. but it may be true not only Russia, and of course they are preparing a big plan to increase the country's prosperity. we can see later, which country is right to carry out its strategy

EastSound

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I thought Putin was going to make a Ruble that is blockchain based.

andronikos

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Actually I believe there are lots of countries who accumulate btc. They just don't want us to know. Crypto will be the future of world currencies. This is for sure.

Maheshkumar_Hrangkhawl

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I don't understand the purpose in posting such fake news. I am afraid that it will not do any good for the cause of crypto-currency. Considering the decentralized nature of Bitcoin, it will be very difficult to get the backing of the governments and the Russian government is no exception to this. But why we need them, when we can thrive without the government help?

uneng

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Of course this is fake news, dollar reserve is very important for any country, as it's a stable currency that supply the country in crisis times. With bitcoin the country would become too vulnerable to foreigner intervention (sabotage), especially Russia, which is one of the most influent countries in the world.
Other people hodling large btc funds could just dump the market to affect that country storing their reserves in bitcoin.

Although I think every country should store some btcs (or even cities, villages administrations), but not their entire budget or reserve.

Marry Finch

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Russia can buy Bitcoins or another cryptocurrency only in order to circumvent international sanctions. Therefore, the government will do it or does it in secret, and this fact will be denied to direct questions in public.
You already see that, in general, Russia is trying to ban free circulation of cryptocurrency for its citizens. There will ignore the views of citizens and this is a sign of authoritarianism as a form of government by society.

Argoo

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Quote from: Mbitr on April 30, 2019, 12:37:11 PM

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 .

The Russian government has long shown interest in cryptocurrency in connection with circumventing international sanctions. Therefore, it was Russian specialists who, on the instructions of Putin, helped the President of Venezuela Maduro to create their centralized cryptocurrency El-Petro precisely in order to avoid international sanctions. Therefore, it is likely that they will learn from the experience of Venezuela. However, we see that they do not create their cryptocurrency so far, this would attract too much public attention. Therefore, most likely, they will buy Bitcoin or another decentralized cryptocurrency. As always, they will act in secret and if they are exposed to this, they will traditionally declare that it is not they and they did not do this and in general they were not there.

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Quote from: LeGaulois on May 12, 2019, 04:43:11 AM

Quote from: fiulpro on May 12, 2019, 04:13:30 AM

Dollar surges for sure but the amount of profit is not even comparable to the profit they could get from Bitcoins also at the same time if they are thinking about investing in Bitcoins then it will be backed by a pretty big bear therefore it could prove profitable for not only them but for all of us.

Exceptionally if the market goes down again now then I think they will run away and won't think about investing again because no one want that volatile stocks , then again we just hope for the best but it might take them a while to make that happen because it's about a big governmental issue not something that's small.

Dude, it's fake news and it has been said several times, read the conversation, Russia won't replace anything with Bitcoin, the country isn't so crazy. The sum of profits, as you say, could also turn to be a loss for the country, which could result in a nightmare for the country's economy, investing is not done with free money. Governments aren't "designed" to invest in the crypto market.

I think so too, Russia will not take the reckless steps to directly replace the dollar with bitcoin, of course they put on their respective parts so that everything is profitable. and I think for now the ones who dare to change with bitcoin are only countries with acute crisis

LeGaulois

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Quote from: fiulpro on May 12, 2019, 04:13:30 AM

Dollar surges for sure but the amount of profit is not even comparable to the profit they could get from Bitcoins also at the same time if they are thinking about investing in Bitcoins then it will be backed by a pretty big bear therefore it could prove profitable for not only them but for all of us.

Exceptionally if the market goes down again now then I think they will run away and won't think about investing again because no one want that volatile stocks , then again we just hope for the best but it might take them a while to make that happen because it's about a big governmental issue not something that's small.

Dude, it's fake news and it has been said several times, read the conversation, Russia won't replace anything with Bitcoin, the country isn't so crazy. The sum of profits, as you say, could also turn to be a loss for the country, which could result in a nightmare for the country's economy, investing is not done with free money. Governments aren't "designed" to invest in the crypto market.

Netnox

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Quote from: incomefromcoins on May 12, 2019, 02:50:28 AM

Russia government is crypto friendly they are forming crypto law in the coming future that doesn't mean they change their country reserve to bitcoin i strongly belive it is false news

The Russian government is not that friendly to the cryptos. If you remember, BTC-e (which was set up by two Moscow-based Russian IT experts) was forced to shift their operations out of that country due to harassment from the authorities. Things have improved a bit, but still it is not that easy to set up a bitcoin-based business in Russia.

Now coming to the Toshi Times, it is just another third rate media outlet, which prints fake news in order to get free publicity and revenue. You can find a number of such outlets here, and none of them have any credibility or honour.

fiulpro

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Dollar surges for sure but the amount of profit is not even comparable to the profit they could get from Bitcoins also at the same time if they are thinking about investing in Bitcoins then it will be backed by a pretty big bear therefore it could prove profitable for not only them but for all of us.

Exceptionally if the market goes down again now then I think they will run away and won't think about investing again because no one want that volatile stocks , then again we just hope for the best but it might take them a while to make that happen because it's about a big governmental issue not something that's small.

Topic: Russia to replace USD reserves with Bitcoin - page 3. (Read 1026 times)