Topic: Russian Economy Minister: Bitcoin Deflated like a 'Soap Bubble' (Read 254 times)

Hah! Bitcoin deflated like a 'soap bubble' but the minister admits that it attracted significant interest despite the losses incurred in the cryptocurrency space. Two contradicting views in one statement is oftentimes relaying that the speaker doesn't know what he's talking about or doesn't really put things he say in all seriousness. Anyway though, bitcoin is climbing inch by inch everyday, and there seems to be no imminent threat for the price in the mean time. Also, several institutional organizations and investors are still eyeing bitcoin for their own schemes, and if that alone isn't enough for a statement that bitcoin is still primed to get good gains, idk what else is.

This is not news that should be taken seriously. He doesn't even know what he's talking about. The main thing that we know and believe in crypto, the rest is not important.

I wouldn't read too much into it as he's obviously playing both sides of the fence. It's pretty good for Bitcoin when all the criticisms leveled against it is about its market value though, because that'll obviously recover with time. It's literally a non-issue.

It's interesting how they're looking into crypto to try to escape sanctions though. The timing is perfect for them.

They have a little difference. Bitcoin will come back, and Ruble will not.
Currently Bitcoin is just resting, it has not been really deflated，It's like a balloon, when it's deflated is to expand bigger next time.

I can say Bitcoin deflated like a Russian Ruble

There are now 2100 BITCOIN clones, all essentially using the same source to handle the block-chain, how they differ is marketing, POW, and digital-signatures, and address schemes; BLOCK-CHAIN is just a database, its really tiring how non-CS people talk as if block-chain was something new, Satoshi wasn't even a good programmer, he was a math guy, he even admitted all that he added to the problem of digital-currency was resolving the double-spending problem.

A world with BITCOIN, is like a world with one less fly, or one less maggot, or a world without the USD reserve currency, nobody will really care, or miss anything of these,

Everytime I see the word 'block-chain' tossed around, I think BOT.

Russia has the BEST math & physics people in the world, I think PUTIN brought mr-ETH in to see if he would play along, you can be sure when Russia is ready to release a bomb-proof 'BITCOIN CLONE', it will be the best, but like all things Russia waits for the USA/NSA to fall on its face.

CHINA too will issue their own 'ultimate bitcoin', but I think the Russian will be much better, USA like all things, will continue to talk about "BITCOIN" and while everybody else moves along with their lives.

The problem with BITCOIN is its backed by LIES, its not safe, its not secure, its not private; It's not Libertarian, not a single one of the urban myths of 'bitcoin' is true, all that is true is that religious dogma, and high-priests, and proles of bitcoin don't care about the truth.

Governments have become known for oraismg the qualities and potential in the blockchain technology while pulling down bitcoin.
The blockchain can be manipulated and utilized in numerous ways, Bitcoin in the other hand can not be, and for years we have heard prediction of it's death whenever the price crashes.
When you consider that all fiat currencies have dropped over the last decades, Bitcoin seems to be doing great in comparison.

Situation is not the best, but I still think that there is the chance for recover, as we have a lot of such examples in the past.

I think so too. In fact, they don’t know that there is no blockchain without Bitcoin.
So their words look so ridiculous.

To summarize this,I guess that this is another "bitcoin is shit,but the blockchain is great" type of statement made by a government offcial.It doesn't matter if it's the russian economic minister or some western minister.They are all the same.Now is the right time to talk shit about bitcoin,because many newbies will believe it.Sad but true...

BITCOIN is NSA, Putin has said many times that "GOOGLE is NSA"

Russian Federation is not fond of NSA or CIA

Why would Russian Federation kowtow to BITCOIN (BIS-NSA-CIA) ??

I think the Russian Admin is saying, "This technology is the future, but it will not be CIA-NSA Satoshi-Coin", Let's also remember that largely the collapse of the Ruble is because of USA-CIA-NSA/Anti-Russian propaganda ( sanctions, and continual proxy cold-wars, syria, libya, ... afghan ).

Bitcoin has the blessing of Russians, because many exchanges in Russia have been able to fleece dumb people in the west, "Bitcoin-Gold" comes to mind, where they ( Russian Exchanges ) were selling the shit-coin for +$500 USD before it was even forked. ( As a future ), what is it today? Like $10 or something?? I think the Russians, Bulgarians, Poles, Ukranians, and Czech's have made a ton of money off the stupid people in the west on these cowboy anything goes exchanges.

Everybody knows that the US Dollar Reserve status will  soon end, China&Russia are accumulating gold as quick as they can, out of the RESET there will be new crypto-currency's that arise, IMHO by the time this happens "Bitcoin" will be highly discredited, the NSA algo's (sha256/secp256k1) that back Bitcoin now are much more than 10+ years old, and no NSA algo has ever not had a back-door or eventually been cracked.

The refusal of CORE or any BITCOIN ORG to deal with the impending insecurity of BITCOIN will eventually lead to an overnight discredition, I suspect that both CHINA&RUSSIA have a bomb-proof replacement that is NOT NSA waiting in the wings.

don't read too much into this!
about less than a month ago CCN (the source of this crap) was constantly publishing crap about how bitcoin is rising up and then going to the moon. almost every day they were predicting "bull run" specially when price went from $6200 to $6220 LOL
now they are publishing the other type of crap talking about how bitcoin has dropped, dying, bubbly,....
and OP is just copy pasting that into his own site to get some click baits.

It is a little weird that the Russian minister trash talk about the bitcoin  because bitcoin has been a blessing for many Russian( since the United State sanctions of 2014) and I must say that perhaps the majority of people of the bitcoin forum are from Russia

For the time being, I see that the Russian authorities really only express various conflicting opinions about cryptocurrency and do little to legalize it. Bills on cryptocurrency should have been considered in the State Duma until July, then they were moved to autumn, however, the autumn is already ending, and no laws are being passed.
Well, in fact, the statements of this minister are not so further from the truth. Bitcoin really bloated, but had a significant impact on the development of new technologies.

Russian Economy Minister: Bitcoin Deflated like a 'Soap Bubble'

Reported by CoinNess.com


Russian Economic Development Minister Maksim Oreshkin has stated that while Bitcoin has deflated like a "soap bubble," it has impacted the world positively by boosting investment in new technologies.
Speaking to the media on Wednesday Nov 28 at Russia Calling, an investment forum organised by VTB Capital, Oreshkin said that despite the woes of the crypto market, the conversation around it has successfully driven significant international interest in a vast number of projects in new fields, principally blockchain technology.
Until now, the legal status of crypto trading, ICOs, and mining has not been firmly established in the country, with Russian authorities doing little more than issuing vague disclaimers and investment advisories from time to time.

What do you think?

read more:
https://www.ccn.com/bitcoin-deflated-like-a-soap-bubble-russian-economy-minister/

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