Russia will regulate cryptourrencies

biskitop

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Quote from: etraderhart on October 12, 2017, 07:21:15 AM

After a meeting last Tuesday among Russian President Vladimir Putin with the Central Bank of Russia, he said that the Central Bank should avoid making hasty 'ban' decisions about digital currencies.

He also said that the government will work together with Vitalik Buterin and the Ethereum platform to improve the government's system.

Now, authorities say that bitcoin and other digital currencies will be legally regulated from exchange to mining.

"We have agreed on the following: the state should regulate the process of issuing cryptocurrencies, the process of mining, the process of circulation…The state should head this situation and regulate it legally." -Anton Siluanov, Finance Minister of Russia.

See here: https://news.bitcoin.com/putin-confirms-russia-regulate-cryptocurrencies

Reportedly Japan has been regulating bitcoin, and now russia will also regulate bitcoin. This is good news, may all countries do the same.

stompix

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Blackjack.fun

Quote from: expless on November 20, 2017, 05:30:31 AM

Quote from: Palmerson on November 12, 2017, 07:54:17 AM

Quote from: yojodojo21 on November 12, 2017, 07:15:19 AM

Since Russia is one of the leading country with It's President RPRD.PUTIN, when time comes that bitcoin in Russia is regulated Then This Will be The Start of Accomodating Bitcoin Throughout other Country. But, Saying That Russia will be Dependent of crypto currency with mining of it, that is not the Real Point. Mr. PUTIN knows how to check and balance, He Knows That Crypto currency will also help to the Progress of Economy of Russia. Central banks Are Always Insisting to Implement about banning Bitcoin, Because if Bitcoin Will Be Regulated They Will Slowly Disappear.

Why do you believe Putin? You seriously think that banks in Russia are voicing their independent opinion? Lol. I am 100% sure that banks Express the official opinion of the Kremlin. Putin will never allow that Russians had freedom. Only dependent people with the mentality of slaves can so blindly believe and obey all these crazy ideas of its tyrant.

Russia should regulate crypto currencies because it is not possible to run without crypto currencies in today's era. It is providing all necessary facilities to the mass to be rich in very short time and secure their future, it is not only giving ease and comfort but is also quick in use and gives a high output.

Banks are opposing bitcoin because it is giving them a hard competition but banks are also useful and are connected with bitcoin in someway

It is not possible to run without?
I disagree.
It is impossible to run on crypto currencies today.

Honestly, how could a 140 million people country run on cryptos?
Bitcoin can do 400k tx, BCH with its huuuuge blocks can do 3.2 mil., how many crapcoins do we have to add so that every Russian alone would be able to make at least a payment a day?

No, right now, bitcoin and cryptos are not influencing a country economy even by 1%.
With LN active, with mass adoption (not barely 2 million addresses having a balance over 1000$) then you can say it.
But now.... it's laughable.

And please stop saying the part with everybody getting rich in short time.It's fuel for people that call it you know what...

As for Russia:

Quote

Russia saw a net capital outflow of $16 billion in the first half of 2017, up from $8.6 billion in the same period a year earlier, the central bank said on Friday.

I'm pretty sure Putin is doing his best to help a crypto that would double this numbers. /sarcasm off

kris_wolf

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Regular currency is not tied to real world production – it hasn’t been the case for decades. US and EU can print dollars and euros at will. In that sense – bitcoin and other crypto currencies aren’t different from traditional currency. The value of both is determined by the market.. or people’s consensus if you prefer.

Prinox2

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In my view, i think this is a welcomed development to the crypto community, but all the same its better we rather keep our fingers crossed and watch the outcome of the whole process. i hope the terms and conditions of implementing the this will be favorable to bitcoin lovers/users over there.

Jating

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Quote from: expless on November 20, 2017, 05:30:31 AM

Quote from: Palmerson on November 12, 2017, 07:54:17 AM

Quote from: yojodojo21 on November 12, 2017, 07:15:19 AM

Since Russia is one of the leading country with It's President RPRD.PUTIN, when time comes that bitcoin in Russia is regulated Then This Will be The Start of Accomodating Bitcoin Throughout other Country. But, Saying That Russia will be Dependent of crypto currency with mining of it, that is not the Real Point. Mr. PUTIN knows how to check and balance, He Knows That Crypto currency will also help to the Progress of Economy of Russia. Central banks Are Always Insisting to Implement about banning Bitcoin, Because if Bitcoin Will Be Regulated They Will Slowly Disappear.

Why do you believe Putin? You seriously think that banks in Russia are voicing their independent opinion? Lol. I am 100% sure that banks Express the official opinion of the Kremlin. Putin will never allow that Russians had freedom. Only dependent people with the mentality of slaves can so blindly believe and obey all these crazy ideas of its tyrant.

Russia should regulate crypto currencies because it is not possible to run without crypto currencies in today's era. It is providing all necessary facilities to the mass to be rich in very short time and secure their future, it is not only giving ease and comfort but is also quick in use and gives a high output.

Banks are opposing bitcoin because it is giving them a hard competition but banks are also useful and are connected with bitcoin in someway

Disagree, any nation today can run without crypto currencies. They still have the old traditional fiat and their local currencies to help them and their citizens. So its possible for a nation to exist without crypto's.

Banks are threaten indeed call it hard competition. But banks will remain with us and crypto will not make them obsolete. They could co-exist in the ecosystem, and the one who will get all the benefits? US, the people.

As far as Russia, I don't see any reason for them to embrace or even regulate bitcoin or crypto. Just like China, they are afraid that when their citizens all went to crypto it will have a effect on their economy. I agree it does, but in a very positive way. Besides, we all know that Russia and China wants total control of their citizens. Bitcoin is decentralized, how can they manage something they can't get even hold? Of course they can do surveillance of sort but it will take a lot of effort on government side to track everyone on blockchain.

Coffee135

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Quote from: kris_wolf on December 13, 2017, 12:37:30 PM

Bitcoin banned to use as a payment method for IPs, since that would have been a good way to dodge taxation. But that's not so different from the multitude of other laws pertaining to what IPs can and can not do with other digital currencies and payment systems.

I have not heard that in Russia banned the use of bitcoin with changed ip. But I heard that in Russia all companies which provide user access to the VPN service to report to the authorities the real ip of all users. I don't know how it will be done, but the Russian security services are experts in the surveillance of people. I don't understand why they always vote for dictators. Probably for this reason they live.

kris_wolf

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Bitcoin banned to use as a payment method for IPs, since that would have been a good way to dodge taxation. But that's not so different from the multitude of other laws pertaining to what IPs can and can not do with other digital currencies and payment systems.

Lancusters

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Quote from: expless on November 20, 2017, 05:30:31 AM

Quote from: Palmerson on November 12, 2017, 07:54:17 AM

Quote from: yojodojo21 on November 12, 2017, 07:15:19 AM

Since Russia is one of the leading country with It's President RPRD.PUTIN, when time comes that bitcoin in Russia is regulated Then This Will be The Start of Accomodating Bitcoin Throughout other Country. But, Saying That Russia will be Dependent of crypto currency with mining of it, that is not the Real Point. Mr. PUTIN knows how to check and balance, He Knows That Crypto currency will also help to the Progress of Economy of Russia. Central banks Are Always Insisting to Implement about banning Bitcoin, Because if Bitcoin Will Be Regulated They Will Slowly Disappear.

Why do you believe Putin? You seriously think that banks in Russia are voicing their independent opinion? Lol. I am 100% sure that banks Express the official opinion of the Kremlin. Putin will never allow that Russians had freedom. Only dependent people with the mentality of slaves can so blindly believe and obey all these crazy ideas of its tyrant.

Russia should regulate crypto currencies because it is not possible to run without crypto currencies in today's era. It is providing all necessary facilities to the mass to be rich in very short time and secure their future, it is not only giving ease and comfort but is also quick in use and gives a high output.

Banks are opposing bitcoin because it is giving them a hard competition but banks are also useful and are connected with bitcoin in someway

Why Putin needed to Russian were rich? Only poor people are easy to control. You not thought about why in countries with more income in the population is always more democracy than in poor autocratic countries? Until Putin is in power he will never legalize cryptocurrency. The financial system in Russia is also experiencing hard times. Loosen it using bitcoins this is not the best idea.

expless

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Quote from: Palmerson on November 12, 2017, 07:54:17 AM

Quote from: yojodojo21 on November 12, 2017, 07:15:19 AM

Since Russia is one of the leading country with It's President RPRD.PUTIN, when time comes that bitcoin in Russia is regulated Then This Will be The Start of Accomodating Bitcoin Throughout other Country. But, Saying That Russia will be Dependent of crypto currency with mining of it, that is not the Real Point. Mr. PUTIN knows how to check and balance, He Knows That Crypto currency will also help to the Progress of Economy of Russia. Central banks Are Always Insisting to Implement about banning Bitcoin, Because if Bitcoin Will Be Regulated They Will Slowly Disappear.

Why do you believe Putin? You seriously think that banks in Russia are voicing their independent opinion? Lol. I am 100% sure that banks Express the official opinion of the Kremlin. Putin will never allow that Russians had freedom. Only dependent people with the mentality of slaves can so blindly believe and obey all these crazy ideas of its tyrant.

Russia should regulate crypto currencies because it is not possible to run without crypto currencies in today's era. It is providing all necessary facilities to the mass to be rich in very short time and secure their future, it is not only giving ease and comfort but is also quick in use and gives a high output.

Banks are opposing bitcoin because it is giving them a hard competition but banks are also useful and are connected with bitcoin in someway

bryant.coleman

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Now it is too late for Russia. Many of the early Bitcoin pioneers were from Russia (and from the other FSU nations). But many of them (and their ventures) had to move out of Russia due to the hostility of the authorities. The crypto-exchange BTC-e (now Wex.nz) is a perfect example.

lepricoin

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umachit.fund

unlikely they will make this regulation convenient and useful for people. most likely they want to make money on this and not let people make money from it

Kemarit

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Quote from: LepriCON on November 15, 2017, 01:16:57 PM

Russian government may not "ban" cryptocurrency, but instead it may put such severe regulations to make work with it simply unprofitable.

LOL. So you might as well forget your bitcoin trading in Russia. As I have speculate since they began making noises on bitcoin and cryptocurrency, they are not friendly on it. Because crypto can't be controlled, and Putin doesn't want that. Just try to observed every statement coming from them and you'll be the judge. They total contracting themselves that sometimes it really funny. And remember they have their own state back crypto, so I think this is what they gonna offer to their citizens, but be ready to pay high taxes though.

LepriCON

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Russian government may not "ban" cryptocurrency, but instead it may put such severe regulations to make work with it simply unprofitable.

Hordrick

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I think this tendention spread around the world. Crypto-rub,crypto-dollars and so on.

matuson

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Quote from: bambazamba on November 15, 2017, 09:30:16 AM

Quote from: etraderhart on October 12, 2017, 07:21:15 AM

After a meeting last Tuesday among Russian President Vladimir Putin with the Central Bank of Russia, he said that the Central Bank should avoid making hasty 'ban' decisions about digital currencies.

He also said that the government will work together with Vitalik Buterin and the Ethereum platform to improve the government's system.

Now, authorities say that bitcoin and other digital currencies will be legally regulated from exchange to mining.

"We have agreed on the following: the state should regulate the process of issuing cryptocurrencies, the process of mining, the process of circulation…The state should head this situation and regulate it legally." -Anton Siluanov, Finance Minister of Russia.

See here: https://news.bitcoin.com/putin-confirms-russia-regulate-cryptocurrencies

Yes , I heard this news making rounds .
Another country failing to understand " digital currencies" . This is very upsetting that they merely understand the idea of digital currency and take decisions which might be wrong for the long run .
The world is leaning on technology for every thing now , and digital currency is the need of people now . Regulating currency like bitcoin will totally ruin the idea of decentralized economy and all the old methods of taxation and all will be imposed on it . This is a shame that governments just look out for their fiat currency benefits .

You expect Russian something else? I'm generally a supporter of the independent existence of bitcoin. Why do we need government support? It seems to me that it is better to be away from the regulated government regulations. The more the government will attempt to regulate the more we have to go into the shadows.

bambazamba

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Quote from: etraderhart on October 12, 2017, 07:21:15 AM

After a meeting last Tuesday among Russian President Vladimir Putin with the Central Bank of Russia, he said that the Central Bank should avoid making hasty 'ban' decisions about digital currencies.

He also said that the government will work together with Vitalik Buterin and the Ethereum platform to improve the government's system.

Now, authorities say that bitcoin and other digital currencies will be legally regulated from exchange to mining.

"We have agreed on the following: the state should regulate the process of issuing cryptocurrencies, the process of mining, the process of circulation…The state should head this situation and regulate it legally." -Anton Siluanov, Finance Minister of Russia.

See here: https://news.bitcoin.com/putin-confirms-russia-regulate-cryptocurrencies

Yes , I heard this news making rounds .
Another country failing to understand " digital currencies" . This is very upsetting that they merely understand the idea of digital currency and take decisions which might be wrong for the long run .
The world is leaning on technology for every thing now , and digital currency is the need of people now . Regulating currency like bitcoin will totally ruin the idea of decentralized economy and all the old methods of taxation and all will be imposed on it . This is a shame that governments just look out for their fiat currency benefits .

Proton2233

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It seems to me that the Russians under the pretext that the GPU they need to create artificial intelligence produce their own currency. The state Treasury pays for the purchase of the GPU I currency which they mined officials put it in his pocket. This is a new kind of corruption in Russia. The most interesting thing while doing this the officials of the state Bank. Lol!

ORCAf

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Quote from: ORCAf on November 12, 2017, 04:00:44 PM

The Russian Association of Blockchain and Cryptocurrency (RACIB) has reportedly received 40 applications from companies and individuals from European Union countries and China to place mining equipment in Russia to mine bitcoin. This was conveyed to Ria Novosti by the association’s president Yuri Pripachkin last week.

https://news.bitcoin.com/companies-china-eu-mine-bitcoin-russia/

coinsidence? Grin

Russia has been suffering from a shortage of graphics cards that can be used to mine cryptocurrencies, causing their prices to almost double. However, it was not ordinary households that purchased most of these cards. State-owned Sberbank has come forward, admitted to buying them, and apologized for causing the shortage.

https://news.bitcoin.com/sberbank-buying-graphics-cards-russian-market/

ORCAf

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The Russian Association of Blockchain and Cryptocurrency (RACIB) has reportedly received 40 applications from companies and individuals from European Union countries and China to place mining equipment in Russia to mine bitcoin. This was conveyed to Ria Novosti by the association’s president Yuri Pripachkin last week.

https://news.bitcoin.com/companies-china-eu-mine-bitcoin-russia/

greeklogos

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Quote from: warrior333 on November 06, 2017, 12:30:28 PM

Putin used to keep everything under control. Russian even an opinion can not Express freely. You think he might allow free circulation of cryptocurrency? Lol. I'm sure he will ban all cryptocurrencies except the one which is created by Russian. I will never use it. I would not be surprised if along with the code of the wallet to the computer is installed some kind of spyware. I don't believe the Russians and their currency.

Putin is not an idiot. I think you are right about national crypto and banning of other ones in Russia. But this idea is not new, Switzerland has two national currencies one of which only for business settlements. I suppose Russia is going to "stole" this idea, but they will use digital currency for their business settlements.

Palmerson

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Live cams shows pimped with cryptocurrency

Quote from: yojodojo21 on November 12, 2017, 07:15:19 AM

Since Russia is one of the leading country with It's President RPRD.PUTIN, when time comes that bitcoin in Russia is regulated Then This Will be The Start of Accomodating Bitcoin Throughout other Country. But, Saying That Russia will be Dependent of crypto currency with mining of it, that is not the Real Point. Mr. PUTIN knows how to check and balance, He Knows That Crypto currency will also help to the Progress of Economy of Russia. Central banks Are Always Insisting to Implement about banning Bitcoin, Because if Bitcoin Will Be Regulated They Will Slowly Disappear.

Why do you believe Putin? You seriously think that banks in Russia are voicing their independent opinion? Lol. I am 100% sure that banks Express the official opinion of the Kremlin. Putin will never allow that Russians had freedom. Only dependent people with the mentality of slaves can so blindly believe and obey all these crazy ideas of its tyrant.

yojodojo21

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Since Russia is one of the leading country with It's President RPRD.PUTIN, when time comes that bitcoin in Russia is regulated Then This Will be The Start of Accomodating Bitcoin Throughout other Country. But, Saying That Russia will be Dependent of crypto currency with mining of it, that is not the Real Point. Mr. PUTIN knows how to check and balance, He Knows That Crypto currency will also help to the Progress of Economy of Russia. Central banks Are Always Insisting to Implement about banning Bitcoin, Because if Bitcoin Will Be Regulated They Will Slowly Disappear.

RedX

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The president of Russia really know how to run things. It's a good decision that he did not ban bitcoin that can help economies to improve more. Regulation is also a good move which will prevent a lot of scam ICO's so we'll see on which are the real cryptos.

GreenBits

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Quote from: etraderhart on October 12, 2017, 07:21:15 AM

After a meeting last Tuesday among Russian President Vladimir Putin with the Central Bank of Russia, he said that the Central Bank should avoid making hasty 'ban' decisions about digital currencies.

He also said that the government will work together with Vitalik Buterin and the Ethereum platform to improve the government's system.

Now, authorities say that bitcoin and other digital currencies will be legally regulated from exchange to mining.

"We have agreed on the following: the state should regulate the process of issuing cryptocurrencies, the process of mining, the process of circulation…The state should head this situation and regulate it legally." -Anton Siluanov, Finance Minister of Russia.

See here: https://news.bitcoin.com/putin-confirms-russia-regulate-cryptocurrencies

i will stop and applaud the approach that Russia is using towards cryptocurrencies (obvious aml/kyc regulation, but a studied hand towards other aspects of regulation). with that being said, they dont have too much of a choice at the moment. the sanctions they are under are crippling that economy, they seriously need a way to subvert those sanctions, it wouldnt be wise to ride the ship all the way underwater. since all this Russia election fiasco is still a work in progress, we can safely assume that sanctions are not going to be lifted any time soon; in fact odds are the level of sanctions will increase (observe the North Korean situation).

what better way to avoid international sanctions than embrace bitcoin, a borderless currency, or i dunno, make up a brand new state issued crypto?

in Russia, bitcoin mine you Wink

Thiptiout

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Vladimir Putin is smart man so i think will use bitcoin to make Russia great because price not depend on dollar

Zentor

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They are still uncertain about that don`t have enough law base to do this so now isn`t a time to think about this, everything can still change

Granxis

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Quote from: warrior333 on November 06, 2017, 12:30:28 PM

Putin used to keep everything under control. Russian even an opinion can not Express freely. You think he might allow free circulation of cryptocurrency? Lol. I'm sure he will ban all cryptocurrencies except the one which is created by Russian. I will never use it. I would not be surprised if along with the code of the wallet to the computer is installed some kind of spyware. I don't believe the Russians and their currency.

I have not heard from Russia about legalization of BTC, but I heard that you support etherum and etc. I think Etherum could lose this competition again.

Lieldoryn

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Quote from: Zabercoin on November 10, 2017, 06:23:37 AM

Allowing of bitcoin is good for any country i think. But it will be intresting to see how they will regulate it.

Let's be honest. Putin will never allow free circulation of cryptocurrency in Russia. The state economy is not adapted to the use of cryptocurrencies. Russia's economy is in terrible condition. It may not compete with bitcoin. And of course the freedom of citizens is not in the interest of the despot Putin.

Zabercoin

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Allowing of bitcoin is good for any country i think. But it will be intresting to see how they will regulate it.

ORCAf

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Quote from: Klausi on November 09, 2017, 04:56:03 PM

Quote from: etraderhart on October 12, 2017, 07:21:15 AM

After a meeting last Tuesday among Russian President Vladimir Putin with the Central Bank of Russia, he said that the Central Bank should avoid making hasty 'ban' decisions about digital currencies.

He also said that the government will work together with Vitalik Buterin and the Ethereum platform to improve the government's system.

Now, authorities say that bitcoin and other digital currencies will be legally regulated from exchange to mining.

"We have agreed on the following: the state should regulate the process of issuing cryptocurrencies, the process of mining, the process of circulation…The state should head this situation and regulate it legally." -Anton Siluanov, Finance Minister of Russia.

See here: https://news.bitcoin.com/putin-confirms-russia-regulate-cryptocurrencies

Russia is a big country in which one of the strongest nation in talking of economics and power. Regulating the bitcoin and other digital currencies will ensure that their being one of the super powers will not be ruin and a good move of protecting their people interest against fraud and illegal activities that might put their country at risk. Russias move is better than banning the digital currencies perhaps this is one of the reasons that bitcoin is now overwhelming because of the affiliation of Russian investors.

A bit old news (12 of OCT). check the latest news about banning pages and etc.

Garld1936

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Russia learn from china that ban can’t effect in bitcoin ,so that they start to support it (Virtual money)and may be start them own one

Btc_1856

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Quote from: Viscera on October 20, 2017, 03:38:07 PM

Russia is going to regulate a cryptocurrency as quickly as it can. it will help the other nation to familiarize cryptocurrency, but for sure Putin will do his best to make his country proud and to help their economy boost, a lot of investor will encourage to join a business venture to their country

Yes, if they do lot of other countries will follow their rules and regulations. Off course each country has it' own rules and regulations but many government are still dilemma whether to legal them or not because if it is good it will improve their economic growth, otherwise it will effect badly.

Yaunfitda

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I agree with some of the comments here, we don't need to be experts, Russia being a authoritarian regime wouldn't let like bitcoin or crypto's to be assimilated with their citizens because its decentralized. And as far as their announcement, I haven't seen anything concrete yet, no even the bitcoin mining they said that they are going to put somewhere. With that said, I believed that Putin would not allow bitcoin or crypto's in Russia, not even Vitalik could change Putin's mind on it.

Kemarit

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Quote from: Proton2233 on November 08, 2017, 12:30:34 PM

Quote from: Siren on November 06, 2017, 04:21:08 PM

Quote from: warrior333 on November 06, 2017, 12:30:28 PM

Putin used to keep everything under control. Russian even an opinion can not Express freely. You think he might allow free circulation of cryptocurrency? Lol. I'm sure he will ban all cryptocurrencies except the one which is created by Russian. I will never use it. I would not be surprised if along with the code of the wallet to the computer is installed some kind of spyware. I don't believe the Russians and their currency.

I'm with you here. Russia specially with Putin still at the helm and total control of everything, won't simply allow crypto's to flow on their country for the simple reason that its decentralized. So that take everything with a grain of salt the word coming from their government. You can't really trust them because its like they are just talking to look like they are friendly to cryptocurrencies. But beware they are not in my opinion.

I think that now the FSB gathers information about all users of the cryptocurrency. I have a friend living in Russia and he said the police and the FSB identified the arrested miners and their equipment. The courts give them the fines are impossible to pay. Traders of the cryptocurrency accused of occupation currency transactions without a license. Who will give the license if bitcoin is not recognized currency?

Wow is this true mate? They have arrested them because they are mining? This country is really fuck up, how can you get arrested for simply doing mining? And with all the announcement and news coming from they saying that they are going to regulate it, I have no doubts that they aren't going to do it. Well, in the beginning I always said that we need to take a grain of salt anything they say about cryptocurrency because they always keeps changing their stance on it. But with your confirmation that they arrested some miners, my assumptions becomes valid. I am right all along. So let's forget about Russia already, its all propaganda and lies. Sorry to break the bubbles to everyone here still thinking that cryptocurrency will be their thing next year. It won't happened.

greeklogos

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Quote from: Carrody on November 09, 2017, 08:09:36 AM

They are just afraid that they can't control the currency, afraid of knowing nothing

They can control crypto, but they used to delay with accepting of necessary laws. But I think the fear has place to be in Russia. Firstly different scam schemes based on crypto are blossoming there. Second crypto is destroying banking system in the country. And the third would be the cheap price of the national currency which are making people with big amount of coin automatically rich and the government usually doesn't like such luckies, cause of without laws they can't take their % from digital profit.

lili song

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I'm happy to hear that. It's a good news for Russia. Cryptocurrencies will help their economies, unemployeement, investors etc.
My country not yet regulate cryptocurrencies. I hope one day my country will regulated cryptocurrencies like Russia!

Klausi

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CryptoTalk.Org - Get Paid for every Post!

Quote from: etraderhart on October 12, 2017, 07:21:15 AM

After a meeting last Tuesday among Russian President Vladimir Putin with the Central Bank of Russia, he said that the Central Bank should avoid making hasty 'ban' decisions about digital currencies.

He also said that the government will work together with Vitalik Buterin and the Ethereum platform to improve the government's system.

Now, authorities say that bitcoin and other digital currencies will be legally regulated from exchange to mining.

"We have agreed on the following: the state should regulate the process of issuing cryptocurrencies, the process of mining, the process of circulation…The state should head this situation and regulate it legally." -Anton Siluanov, Finance Minister of Russia.

See here: https://news.bitcoin.com/putin-confirms-russia-regulate-cryptocurrencies

Russia is a big country in which one of the strongest nation in talking of economics and power. Regulating the bitcoin and other digital currencies will ensure that their being one of the super powers will not be ruin and a good move of protecting their people interest against fraud and illegal activities that might put their country at risk. Russias move is better than banning the digital currencies perhaps this is one of the reasons that bitcoin is now overwhelming because of the affiliation of Russian investors.

Kerchi

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Quote from: Proton2233 on November 08, 2017, 12:30:34 PM

Quote from: Siren on November 06, 2017, 04:21:08 PM

Quote from: warrior333 on November 06, 2017, 12:30:28 PM

Putin used to keep everything under control. Russian even an opinion can not Express freely. You think he might allow free circulation of cryptocurrency? Lol. I'm sure he will ban all cryptocurrencies except the one which is created by Russian. I will never use it. I would not be surprised if along with the code of the wallet to the computer is installed some kind of spyware. I don't believe the Russians and their currency.

I'm with you here. Russia specially with Putin still at the helm and total control of everything, won't simply allow crypto's to flow on their country for the simple reason that its decentralized. So that take everything with a grain of salt the word coming from their government. You can't really trust them because its like they are just talking to look like they are friendly to cryptocurrencies. But beware they are not in my opinion.

I think that now the FSB gathers information about all users of the cryptocurrency. I have a friend living in Russia and he said the police and the FSB identified the arrested miners and their equipment. The courts give them the fines are impossible to pay. Traders of the cryptocurrency accused of occupation currency transactions without a license. Who will give the license if bitcoin is not recognized currency?

It's true. Information FSB transfer ISP under the threat of loss of license.Thor and VPN prohibited, people using them fall under the category of extremists(which means imprisonment or a huge fine). Plus 1/4 of the population of large cities is the police.

olushakes

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I will say Russia is moving in the right direction through the process of regulation which is something that will happen afterwards whether we like it or not. Rather than going through the route of countries that are throwing bans here and there without even understanding what the whole bitcoin and the blockchain is all about. I am open to things like this so far its going to bring sanity to the crypto space without any limitation.

ORCAf

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Quote from: Carrody on November 09, 2017, 08:09:36 AM

They are just afraid that they can't control the currency, afraid of knowing nothing

You can't say that they do not know nothing. I think the biggest part of running/upcoming ICOs are from Russia, Vitalik Buterin (Ethereum) is also Russian. They are really good at this, but, as I think, the government do not have contact and with them.

Carrody

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They are just afraid that they can't control the currency, afraid of knowing nothing

ORCAf

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in case you missed it:

https://coingeek.com/unlucky-13-russia-starts-blocking-cryptocurrency-focused-sites/

Lieldoryn

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It seems to me that the position of any state is irrelevant to the development of bitcoin. When there were rumors that China wants to ban bitcoin, it does not affect the growth of bitcoin prices. People who believe in and support the bitcoin will always find a way to use it. The government will not be able to stop it. In Russia when-that was criminal liability for the use of the dollar. This does not stop people from using it. It was once the case that people for this shot. Bitcoin depends on people without reference to the state.

iram1011

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Quote from: Proton2233 on November 08, 2017, 12:30:34 PM

Quote from: Siren on November 06, 2017, 04:21:08 PM

Quote from: warrior333 on November 06, 2017, 12:30:28 PM

Putin used to keep everything under control. Russian even an opinion can not Express freely. You think he might allow free circulation of cryptocurrency? Lol. I'm sure he will ban all cryptocurrencies except the one which is created by Russian. I will never use it. I would not be surprised if along with the code of the wallet to the computer is installed some kind of spyware. I don't believe the Russians and their currency.

I'm with you here. Russia specially with Putin still at the helm and total control of everything, won't simply allow crypto's to flow on their country for the simple reason that its decentralized. So that take everything with a grain of salt the word coming from their government. You can't really trust them because its like they are just talking to look like they are friendly to cryptocurrencies. But beware they are not in my opinion.

I think that now the FSB gathers information about all users of the cryptocurrency. I have a friend living in Russia and he said the police and the FSB identified the arrested miners and their equipment. The courts give them the fines are impossible to pay. Traders of the cryptocurrency accused of occupation currency transactions without a license. Who will give the license if bitcoin is not recognized currency?

I believe Russia has always been confused when it comes to cryptocurrencies. First they banned it, then removed it, a biggest mining farm was supposed to open, then a news of ban again and now a news of regulations.

I think whatever happens in Russia regarding Bitcoin or cryptos won't be effecting the market much as I believe Russia still doesn't have much bitcoin investors or crypto community is large enough there. Russia isn't a big market for cryptos and whatever government is doing should hardly be any of market's interest.

Right now the main focus is Asian market including Japan, South Korea, India and China along with USA and some part of Europe.

Rajamuda

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Yeah that's right rumored like that, and it sounds good. The country will legalize bitcoin and other types of cryptocurrencies in order to combat illegal transactions. But I think that's not really certain yet and it seems that it's still a plan in the process of bringing together a view of the status cryptocurrencies, and will determine how to regulate it.

Irvinn

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Quote from: cardinalVC on October 12, 2017, 08:21:07 AM

Putin has aways been interested in Bitcoin. Ever since it went mainstream, he knew Russia would be amongst the top countries in the crypto community.

Today in a stream of news about bitkoin this forum there was information that 13 sites are banned in Russia. connected with crypto currency. An opinion is expressed. that this site can be banned in Russia. So will Russia be one of the first countries to support the Crypto currency? Or will she strictly prohibit everything related to her? I see that in Russia the words of politicians often disagree with their business.

Proton2233

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Quote from: Siren on November 06, 2017, 04:21:08 PM

Quote from: warrior333 on November 06, 2017, 12:30:28 PM

Putin used to keep everything under control. Russian even an opinion can not Express freely. You think he might allow free circulation of cryptocurrency? Lol. I'm sure he will ban all cryptocurrencies except the one which is created by Russian. I will never use it. I would not be surprised if along with the code of the wallet to the computer is installed some kind of spyware. I don't believe the Russians and their currency.

I'm with you here. Russia specially with Putin still at the helm and total control of everything, won't simply allow crypto's to flow on their country for the simple reason that its decentralized. So that take everything with a grain of salt the word coming from their government. You can't really trust them because its like they are just talking to look like they are friendly to cryptocurrencies. But beware they are not in my opinion.

I think that now the FSB gathers information about all users of the cryptocurrency. I have a friend living in Russia and he said the police and the FSB identified the arrested miners and their equipment. The courts give them the fines are impossible to pay. Traders of the cryptocurrency accused of occupation currency transactions without a license. Who will give the license if bitcoin is not recognized currency?

Siren

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Quote from: warrior333 on November 06, 2017, 12:30:28 PM

Putin used to keep everything under control. Russian even an opinion can not Express freely. You think he might allow free circulation of cryptocurrency? Lol. I'm sure he will ban all cryptocurrencies except the one which is created by Russian. I will never use it. I would not be surprised if along with the code of the wallet to the computer is installed some kind of spyware. I don't believe the Russians and their currency.

I'm with you here. Russia specially with Putin still at the helm and total control of everything, won't simply allow crypto's to flow on their country for the simple reason that its decentralized. So that take everything with a grain of salt the word coming from their government. You can't really trust them because its like they are just talking to look like they are friendly to cryptocurrencies. But beware they are not in my opinion.

AlCamus

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Quote from: warrior333 on November 06, 2017, 12:30:28 PM

Putin used to keep everything under control. Russian even an opinion can not Express freely. You think he might allow free circulation of cryptocurrency? Lol. I'm sure he will ban all cryptocurrencies except the one which is created by Russian. I will never use it. I would not be surprised if along with the code of the wallet to the computer is installed some kind of spyware. I don't believe the Russians and their currency.

Evil Putin. Believe me, any government will try to make the best out of cryptocurrencies. Any government will observe the econimic reactions from it and I guess, Russia is open an economic window by cryptocurrencies e. g. for trading and worldwide financial transactions. If Putin regulates cryptocurrencies, then to not allow capital flight. But international investment will be allowed, for sure.

warrior333

sr. member

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Putin used to keep everything under control. Russian even an opinion can not Express freely. You think he might allow free circulation of cryptocurrency? Lol. I'm sure he will ban all cryptocurrencies except the one which is created by Russian. I will never use it. I would not be surprised if along with the code of the wallet to the computer is installed some kind of spyware. I don't believe the Russians and their currency.

Urbanbypas

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I doubt that the russians will be able to effectively regulate the cryptocurrency.

Jating

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Quote from: CyberKuro on November 06, 2017, 05:56:35 AM

we know that Russian President Vladimir Putin is a pro cryptocurrency and he has several planning about crypto in Russia, including mining bitcoin to compete with China in mining industry, on the other hand Central Bank Governor Elvira Nabiullina seems against cryptocurrency. However, the last meeting; the ministry proposed to register cryptocurrency miners and to license crypto exchanges. But, it's almost a month and there is no any sign of newest regulation about this matter. Cryptocurrency bring some advantages into economy, as long as Government regulate exchanges, it will not be a problem as they can over watch money flows from abroad.

I beg to disagree to you here. I don't think that Vladimir Putin is pro cryptocurrency, he hates bitcoin. The only crypto that is going out on his mouth is Ethereum. But if you are going to see Russia's statement for the last 6 months or so. Its totally contradictory that's why I arrived in the conclusion that they are going hard on crypto specially bitcoin. They already made their own crypto, so I don't think that they will endorse another one unless it is backup by their government. Yes, we already know that crypto really brings more to the economy but I don't think Russia will allow anything that they can't control.

CyberKuro

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we know that Russian President Vladimir Putin is a pro cryptocurrency and he has several planning about crypto in Russia, including mining bitcoin to compete with China in mining industry, on the other hand Central Bank Governor Elvira Nabiullina seems against cryptocurrency. However, the last meeting; the ministry proposed to register cryptocurrency miners and to license crypto exchanges. But, it's almost a month and there is no any sign of newest regulation about this matter. Cryptocurrency bring some advantages into economy, as long as Government regulate exchanges, it will not be a problem as they can over watch money flows from abroad.

Coffee135

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Quote from: cleofila on November 05, 2017, 08:33:28 PM

Quote from: cardinalVC on October 12, 2017, 08:21:07 AM

Putin has aways been interested in Bitcoin. Ever since it went mainstream, he knew Russia would be amongst the top countries in the crypto community.

Do you know the TV tower in the city Ekaterinburg, Russia was proposed to be turned into a mining farm. A resident of Ekaterinburg wrote a letter to Russian President Vladimir Putin with a proposal to convert an unfinished TV tower in the city center to a giant mining farm (while the largest farm in the country looks like this). The author of the letter says that he has a working scheme of the farm, but he can not get permission from the local authorities. The idea of appealing to the President with the author of the letter of Yaroslav Shirshikov ripened after he heard from Putin's Press secretary, Mr. Peskov, that the President Vladimir Putin was "sick" with the digital economy.

We will see if the idea becomes successful. Wink

I was always surprised by the blind faith of the Russians in the good king. Even when in the 30s of the last century, Stalin killed millions of Russian they believed they were good and that he voluntarily wrote the denunciations of neighbors. Why Putin to legalize crypto-currencies? I believe that he can try to create their own currency but this is the same unsuccessful project as Russia itself.

777Bitcoin

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I’m good with it, regulations will prevent more scammers and give a chilling to those doing some criminal activities. This is nothing new for now, the government are aggressively dealing with this IRR for a while now. Let see if the Russian citizens will have complaints about this or if they support it, the better I think.

cleofila

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Quote from: cardinalVC on October 12, 2017, 08:21:07 AM

Putin has aways been interested in Bitcoin. Ever since it went mainstream, he knew Russia would be amongst the top countries in the crypto community.

Do you know the TV tower in the city Ekaterinburg, Russia was proposed to be turned into a mining farm. A resident of Ekaterinburg wrote a letter to Russian President Vladimir Putin with a proposal to convert an unfinished TV tower in the city center to a giant mining farm (while the largest farm in the country looks like this). The author of the letter says that he has a working scheme of the farm, but he can not get permission from the local authorities. The idea of appealing to the President with the author of the letter of Yaroslav Shirshikov ripened after he heard from Putin's Press secretary, Mr. Peskov, that the President Vladimir Putin was "sick" with the digital economy.

We will see if the idea becomes successful. Wink

Taki

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All countries will regulate crypto currencies soon, we just can't go from this. But I suppose it will stay couple of countries or states where bitcoin will be non control, like a free zone. So, that's a normal process to make bitcoin as a daily part of life of all people but not a group of "chosen one".

donaIdS

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Why is Russia supporting crypto currency that much, are they really earning big from those ICOs?

Flor1982

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Quote from: savushkinTA on October 13, 2017, 01:34:36 PM

Quote from: cardinalVC on October 12, 2017, 08:21:07 AM

Putin has aways been interested in Bitcoin. Ever since it went mainstream, he knew Russia would be amongst the top countries in the crypto community.

But now Russia is not in the top

Russia is maybe not in the top at the moment in talking of bitcoin race but in talking of economy, military and influence Russia is always one of the super power nation in the world in which it will benefits the bitcoin and digital currencies to become more popular and stable because of some Russian investments and affiliations. It is too early to judge that Russia will not be included among the top countries in Crypto world maybe at least a year will be a worth waiting.

AmXProX

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Activity: 336

Merit: 250

Quote from: etraderhart on October 12, 2017, 07:21:15 AM

After a meeting last Tuesday among Russian President Vladimir Putin with the Central Bank of Russia, he said that the Central Bank should avoid making hasty 'ban' decisions about digital currencies.

He also said that the government will work together with Vitalik Buterin and the Ethereum platform to improve the government's system.

Now, authorities say that bitcoin and other digital currencies will be legally regulated from exchange to mining.

"We have agreed on the following: the state should regulate the process of issuing cryptocurrencies, the process of mining, the process of circulation…The state should head this situation and regulate it legally." -Anton Siluanov, Finance Minister of Russia.

See here: https://news.bitcoin.com/putin-confirms-russia-regulate-cryptocurrencies

Russian government is really showing support on crypto currency, first announcing their plan to have their own crypto currency "crypto rubble" and now having plans on how to regulate the coin. I think Russia is really seeing the future potential of crypto currency and wants to be one of the countries who will first on this technology. Aside from that they are one of the countries who has a huge amount of miners and developers of new ICOs.

roddy5

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Quote from: etraderhart on October 12, 2017, 07:21:15 AM

After a meeting last Tuesday among Russian President Vladimir Putin with the Central Bank of Russia, he said that the Central Bank should avoid making hasty 'ban' decisions about digital currencies.

He also said that the government will work together with Vitalik Buterin and the Ethereum platform to improve the government's system.

Now, authorities say that bitcoin and other digital currencies will be legally regulated from exchange to mining.

"We have agreed on the following: the state should regulate the process of issuing cryptocurrencies, the process of mining, the process of circulation…The state should head this situation and regulate it legally." -Anton Siluanov, Finance Minister of Russia.

See here: https://news.bitcoin.com/putin-confirms-russia-regulate-cryptocurrencies

This is somewhat a good stand by the Russian government which might be favorable for Bitcoin but once they regulated cryptocurrency it will be somehow centralized in nature.

Lieldoryn

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Quote from: Viscera on October 20, 2017, 03:38:07 PM

Russia is going to regulate a cryptocurrency as quickly as it can. it will help the other nation to familiarize cryptocurrency, but for sure Putin will do his best to make his country proud and to help their economy boost, a lot of investor will encourage to join a business venture to their country

What are you, a Kremlin propagandist? Not the people of Russia nor Putin is not proud of their country. How can she be proud of? Russia is poor, backward and aggressive country. Putin kept in power in order not to get into the court of the Hague. Until Russians will choose Putin, he will steal and never be allowed to use bitcoin. No dictatorial state which is loyal to bitcoin.

franco123

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Quote from: etraderhart on October 12, 2017, 07:21:15 AM

After a meeting last Tuesday among Russian President Vladimir Putin with the Central Bank of Russia, he said that the Central Bank should avoid making hasty 'ban' decisions about digital currencies.

He also said that the government will work together with Vitalik Buterin and the Ethereum platform to improve the government's system.

Now, authorities say that bitcoin and other digital currencies will be legally regulated from exchange to mining.

"We have agreed on the following: the state should regulate the process of issuing cryptocurrencies, the process of mining, the process of circulation…The state should head this situation and regulate it legally." -Anton Siluanov, Finance Minister of Russia.

See here: https://news.bitcoin.com/putin-confirms-russia-regulate-cryptocurrencies

It is good to hear that Russian government is going on full support to Bitcoin and the cryprocurrenct market as a whole. However, I think this is gonna be hard for them on pursuing to regulate it. Bitcoin is not owned by Russia alone nor owned by any countrt. One of Bitcoin's primary objectice is to have a currency that is not regulated by the government. Also, given that it is an open digital currenct worldwide, having to regulate it takes the whole world to agree unless they create theirn own cryptocurrency

iamTom123

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Quote from: joseafonso123az on October 13, 2017, 11:01:27 AM

Lately there have been much speculation from Russia, some tell that it will get banned, other tell that it will get regulated but accepted. I believe that they will opt for the regulation of crypto, and I believe that many coutries will follow that, if Russia does. Russia has been a country that knows how to sustain their wealth, and now in what kind of things they should focus! Take an example of oil, Russians are leaders in that market! I think Russia won't take a decision that could make lose the potential that BTC might bring!

While Russia is not yet a big player in the Bitcoin market, this got the potential to partly replace what we lost in China. However, it seems to me that the government lead by Putin could not definitely decide on the path to follow on the issue of cryptocurrency. I am sure they are aware that right now this same industry has been good to many Russians. I have seen many Russians involved in many ICO projects and these people should be making a lobby with the government of Putin to work with Bitcoin/cryptocurrency for the benefit of the country and should not just limit their mindset in introducing their own CryptoRuble instead (well they can introduce their own cryptocurrency but should also open up for Bitcoin). I am expecting that by next year we would finally see the final answer coming the Russian government on this matter.

Viscera

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Russia is going to regulate a cryptocurrency as quickly as it can. it will help the other nation to familiarize cryptocurrency, but for sure Putin will do his best to make his country proud and to help their economy boost, a lot of investor will encourage to join a business venture to their country

Marucya

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However, after such optimistic and encouraging information, there was a message that Russia is going to issue its own crypto currency, a cryptorable, which will be issued by the state, and not produced and will be fully regulated. The cryptoround will already go with an integrated 13 percent tax on profits. Proceeding from this, the decentralized crypto currency will be subject to a certain pressure.

Quetzalchel

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Quote from: rjbtc2017 on October 12, 2017, 08:37:11 PM

This is confusing, i read an article like yesterday states that Putin criticize bitcoin and other cryptocurrencies and now here is the article stating that Putin is open on cryptocurrencies, I do not know what is the real news now. Anyway, if this turns out to be true then Russia knows that they can builda big mining facility specially with their low electricity rate. Regulation is indeed what Government at least can do with cryptocurrency to monitor the possible illegal activities and also SCAM Icos.

1) Yes, Putin criticized cryptocurrencies. He said that cryptocurrencies now mainly used for illegal activities.
2) I am sure that Putin wants to create something useful based on blockchain.
3) Government needs no mining facility. They simply will create needed amount of cryptocurrency :)

matuson

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Quote from: savushkinTA on October 13, 2017, 01:34:36 PM

Quote from: cardinalVC on October 12, 2017, 08:21:07 AM

Putin has aways been interested in Bitcoin. Ever since it went mainstream, he knew Russia would be amongst the top countries in the crypto community.

But now Russia is not in the top

Russia was never a trend. The economy of this country is very backward and a small number of people may not have a significant impact on the global economy. Attempts to regulate use of bitcoins have an impact only on the domestic market. Putin is not beneficial to Russian lived in abundance.

savushkinTA

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Quote from: cardinalVC on October 12, 2017, 08:21:07 AM

Putin has aways been interested in Bitcoin. Ever since it went mainstream, he knew Russia would be amongst the top countries in the crypto community.

But now Russia is not in the top

Lancusters

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I wonder how the Russians are going to do it? They can only control the ruble which does not need anyone. Then the users of bitcoins will change the bitcoin to dollar beyond the influence of Russia. I really want to see how Putin will abandon investment in the country. It's amazing how there are those who support this rubbish.

joseafonso123az

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Activity: 476

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Lately there have been much speculation from Russia, some tell that it will get banned, other tell that it will get regulated but accepted. I believe that they will opt for the regulation of crypto, and I believe that many coutries will follow that, if Russia does. Russia has been a country that knows how to sustain their wealth, and now in what kind of things they should focus! Take an example of oil, Russians are leaders in that market! I think Russia won't take a decision that could make lose the potential that BTC might bring!

saliha

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good idea

Gloria_16

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That feeling when officials secretly trade, but want to ban this ordinary people...

Lampaster

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How do you have so much pessimism? Now the government allows us to use bitcoins? It does not prevent me absolutely. My approach to this so that I do should be for the government. The government should be for people. If it does not fulfill its obligations that I just ignore it. To Putin had the right to demand something, he must stop stealing. I don't live in Russia but if my government ban bitcoin I will not stop using cryptocurrencies.

TravelMug

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Quote from: audaciousbeing on October 13, 2017, 03:36:51 AM

Quote from: etraderhart on October 12, 2017, 07:21:15 AM

After a meeting last Tuesday among Russian President Vladimir Putin with the Central Bank of Russia, he said that the Central Bank should avoid making hasty 'ban' decisions about digital currencies.

He also said that the government will work together with Vitalik Buterin and the Ethereum platform to improve the government's system.

Now, authorities say that bitcoin and other digital currencies will be legally regulated from exchange to mining.

"We have agreed on the following: the state should regulate the process of issuing cryptocurrencies, the process of mining, the process of circulation…The state should head this situation and regulate it legally." -Anton Siluanov, Finance Minister of Russia.

See here: https://news.bitcoin.com/putin-confirms-russia-regulate-cryptocurrencies

This will be the direction of every country in the world by the time they understand the truth about bitcoin and crypto currency that not everyone engaged in it is using it for either money laundering or fraudulent activities but its the next phase of what the future financial system is going to be and the people are wanting to be part of that future. The option left for government is to ensure that the rules of the game is not subverted and doing that means there is need for regulations.

Wow. Putin stepping in to quash the idea of their Central Banks banning bitcoin in Russia. Is this another reason why we see the price going up today? I hope so that this will be direction of each and every country in the world. Bitcoin has been attached with a lot of negativity that every nation now thinks that bitcoin and cryto's are a bad thing so outright banning is necessary. We must admit there are really unethical people that is taking advantage of how bitcoin was design. However, it can still be outweighs on how most of us are using it. Regulations will be fine I guess, as long as the government will let their community used bitcoin for purposes of investing and earning. Though I tend to be skeptics about Russia and take everything with a grain of salt, I will let this pass and see how it goes with Putin stepping in.

audaciousbeing

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Quote from: etraderhart on October 12, 2017, 07:21:15 AM

After a meeting last Tuesday among Russian President Vladimir Putin with the Central Bank of Russia, he said that the Central Bank should avoid making hasty 'ban' decisions about digital currencies.

He also said that the government will work together with Vitalik Buterin and the Ethereum platform to improve the government's system.

Now, authorities say that bitcoin and other digital currencies will be legally regulated from exchange to mining.

"We have agreed on the following: the state should regulate the process of issuing cryptocurrencies, the process of mining, the process of circulation…The state should head this situation and regulate it legally." -Anton Siluanov, Finance Minister of Russia.

See here: https://news.bitcoin.com/putin-confirms-russia-regulate-cryptocurrencies

This will be the direction of every country in the world by the time they understand the truth about bitcoin and crypto currency that not everyone engaged in it is using it for either money laundering or fraudulent activities but its the next phase of what the future financial system is going to be and the people are wanting to be part of that future. The option left for government is to ensure that the rules of the game is not subverted and doing that means there is need for regulations.

freebutcaged

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Activity: 588

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Quote from: btc-facebook on October 12, 2017, 10:25:12 PM

It's a good news , I can see why bitcoin value escalate so fast recently.
I can feel that bitcoin is in good phenomena because it want reach another fork just like BCH before , people are owning bitcoin as much possible and afterward we can see massive dump !

Massive dump like the last massive dump? people wouldn't dump mate. Russia regulating mining has nothing to do with Bitcoin forks, Bitcoin gold fork

Has nothing to do with the price, investors are trying to get a head of the future. there is a reason for Bitcoin to fork, upgrading the code and improving

Last upgrade or soft fork had good impact on the performance. I'm not buying for gold. I'm buying for profit. there is no other coin like Bitcoin with the

Same market to profit by trading with no added requirements.

btc-facebook

legendary

Activity: 1862

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It's a good news , I can see why bitcoin value escalate so fast recently.
I can feel that bitcoin is in good phenomena because it want reach another fork just like BCH before , people are owning bitcoin as much possible and afterward we can see massive dump !

freebutcaged

hero member

Activity: 588

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They want to regulate mining? they planned this for years, I doubt it to be a new strategy. all they can do is to centralize Eth mining by regulating it

But good luck with regulating Bitcoin mining, most Btc farms are in China where Putin has no power. if people start going underground to mine altcoins

Governments will have a new problem. they might record the shipment manifests to see the destinations of GPUs. if you are buying them better to ship

Them some where else and pick them up yourself.

rjbtc2017

sr. member

Activity: 322

Merit: 252

Quote from: etraderhart on October 12, 2017, 07:21:15 AM

After a meeting last Tuesday among Russian President Vladimir Putin with the Central Bank of Russia, he said that the Central Bank should avoid making hasty 'ban' decisions about digital currencies.

He also said that the government will work together with Vitalik Buterin and the Ethereum platform to improve the government's system.

Now, authorities say that bitcoin and other digital currencies will be legally regulated from exchange to mining.

"We have agreed on the following: the state should regulate the process of issuing cryptocurrencies, the process of mining, the process of circulation…The state should head this situation and regulate it legally." -Anton Siluanov, Finance Minister of Russia.

See here: https://news.bitcoin.com/putin-confirms-russia-regulate-cryptocurrencies

This is confusing, i read an article like yesterday states that Putin criticize bitcoin and other cryptocurrencies and now here is the article stating that Putin is open on cryptocurrencies, I do not know what is the real news now. Anyway, if this turns out to be true then Russia knows that they can builda big mining facility specially with their low electricity rate. Regulation is indeed what Government at least can do with cryptocurrency to monitor the possible illegal activities and also SCAM Icos.

Immakillya

sr. member

Activity: 560

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If is the only way to legalize bitcoin there. Why not? Besides, other countries are already regulating bitcoin. China, Japan and others are regulating their local exchanges. Im sure if they regulate this. This will the boost for the progress of bitcoin in Russia because there will be no more hindrances on adoption since government will going to regulate it. Russia wants to compete with market leaders on cryptocurrencies. The President is optimistic about cryptocurrencies. I'll wait for the next steps of Russia. Im seeing Russia will be a powerhouse of bitcoin.

bubblebit

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The government has the obligation to its people, regulation is intended to secure and protect the interest of the state. Since this is a matter of law, let us wait for the drafting and releasing of it before than being worried about this statements.

Rumors about banning should not be entertained or may not have an effect at all, 5300$ price of bitcoin can’t be reached if we have all weak hands, in short we learned already that whatever comments bad or good we just have to stay and hold then Trust bitcoin.

jekjekman

sr. member

Activity: 378

Merit: 250

Quote from: etraderhart on October 12, 2017, 07:21:15 AM

After a meeting last Tuesday among Russian President Vladimir Putin with the Central Bank of Russia, he said that the Central Bank should avoid making hasty 'ban' decisions about digital currencies.

He also said that the government will work together with Vitalik Buterin and the Ethereum platform to improve the government's system.

Now, authorities say that bitcoin and other digital currencies will be legally regulated from exchange to mining.

"We have agreed on the following: the state should regulate the process of issuing cryptocurrencies, the process of mining, the process of circulation…The state should head this situation and regulate it legally." -Anton Siluanov, Finance Minister of Russia.

See here: https://news.bitcoin.com/putin-confirms-russia-regulate-cryptocurrencies

I think this a good news for the Bitcoin community as the President itself now recognize the cryptocurrencies as a big thing, and they will able to discuss the ins and outs of it instead of banning the cryptocurrency exchanges in their country, what a good governance indeed.

I just read different rumors that Russia is banning Bitcoin but again it is an another FUD attempt by the people who really hates Bitcoin and those people that are so gullible enough to believe in these issues without a strong proof or any other kind of reliable claims.

X7

legendary

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Let he who is without sin cast the first stone

It makes sense - for them to hedge against the current system and create their own system which they can operate in independent of the financial world

MrCrank

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Quote from: jaocoincrypto18 on October 12, 2017, 09:04:55 AM

So finally it will be all clear that bitcoin will be going to be legal in Russia after the series of dispute. Soon China in which Russia's best friend which is also a longest ally will also do the same and lift the ban for good then after this i believed bitcoin value will going to be more stronger than ever in the history because all the super power nations are supporting bitcoin.

Agree with you.
Bitcoin will be legal in Russia.
Also I can say that Russia will be country 1 who support cryptocurrency.
If they will create plant of mining farm..

Don Pedro Dinero

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Merit: 1565

The first decentralized crypto betting platform

I think we will have to wait to see how laws are specified but I think this is positive news for us. It shows governments are understanding they cannot turn their backs on what is happening with the crypto world, not because of altruism to us, users, but because they are losing income and power.

Good thing is that cryptos like btc can be subjected to legality but they cannot control them as they wish.

jaocoincrypto18

full member

Activity: 630

Merit: 103

Quote from: etraderhart on October 12, 2017, 07:21:15 AM

After a meeting last Tuesday among Russian President Vladimir Putin with the Central Bank of Russia, he said that the Central Bank should avoid making hasty 'ban' decisions about digital currencies.

He also said that the government will work together with Vitalik Buterin and the Ethereum platform to improve the government's system.

Now, authorities say that bitcoin and other digital currencies will be legally regulated from exchange to mining.

"We have agreed on the following: the state should regulate the process of issuing cryptocurrencies, the process of mining, the process of circulation…The state should head this situation and regulate it legally." -Anton Siluanov, Finance Minister of Russia.

See here: https://news.bitcoin.com/putin-confirms-russia-regulate-cryptocurrencies

So finally it will be all clear that bitcoin will be going to be legal in Russia after the series of dispute. Soon China in which Russia's best friend which is also a longest ally will also do the same and lift the ban for good then after this i believed bitcoin value will going to be more stronger than ever in the history because all the super power nations are supporting bitcoin.

cardinalVC

newbie

Activity: 36

Merit: 0

Putin has aways been interested in Bitcoin. Ever since it went mainstream, he knew Russia would be amongst the top countries in the crypto community.

etraderhart

newbie

Activity: 46

Merit: 0

After a meeting last Tuesday among Russian President Vladimir Putin with the Central Bank of Russia, he said that the Central Bank should avoid making hasty 'ban' decisions about digital currencies.

He also said that the government will work together with Vitalik Buterin and the Ethereum platform to improve the government's system.

Now, authorities say that bitcoin and other digital currencies will be legally regulated from exchange to mining.

"We have agreed on the following: the state should regulate the process of issuing cryptocurrencies, the process of mining, the process of circulation…The state should head this situation and regulate it legally." -Anton Siluanov, Finance Minister of Russia.

See here: https://news.bitcoin.com/putin-confirms-russia-regulate-cryptocurrencies

Topic: Russia will regulate cryptourrencies (Read 3474 times)