This is going to do nothing to Bitcoin, at all. If the Russian government is just going to make their normal currency into some kind of digital token then it changes nothing functionally and is just trying to keep up with the fad of having cryptos for the sake of it.
It blows my mind that anyone would use something like this when it's likely just going to be a more complicated fiat, but whatever.
Topic: Russian's own Bitcoin - What will be the impact to the original Bitcoin? - page 4. (Read 3013 times)
June 02, 2017, 09:50:11 AM
June 02, 2017, 09:43:37 AM
This will have no effect on bitcoin. It is just like another altcoin but backed by government and bank. I think russia have banned bitcoin before, so this move is not really surprising. Even if they ban bitcoin again after their own bitcoin is available, the effect to bitcoin globally will be minimal to nothing.
June 02, 2017, 09:42:31 AM
It boils down to "trust" ..... Do people still trust banks? We have seen what banks are capable in countries like Greece. Remember Bitcoin is not
controlled by one single entity. A Crypto currency has value because people place value to it.... they will not add value, if they know the
Government or some bank have full control over the supply and the access to these coins.
controlled by one single entity. A Crypto currency has value because people place value to it.... they will not add value, if they know the
Government or some bank have full control over the supply and the access to these coins.
June 02, 2017, 09:35:41 AM
Russian is planning to have its own version of Bitcoin backed by the Sberbank.
"Sberbank CEO Herman Gref has “agreed” on the development of a Russian national cryptocurrency with the country’s central bank. Sberbank is Russia’s major state-controlled bank. In unofficial reports from local news aggregators, the so-called “Russian Bitcoin” will use Sberbank as its base and will be “the only cryptocurrency freely available for sale and purchase” in the country. “All other [cryptocurrencies] will only be available via exchanges or trading platforms,” the Telegram news channel DeСenter reports Friday."
https://cointelegraph.com/news/russian-bitcoin-will-be-countrys-only-freely-tradable-crypto-sberbank-ceo
What type of impact(s) will this have on the original Bitcoin? Would the Russian Bitcoin survive? Would the original Bitcoin be treated as a lower "second tier" crytocurrency in Russia or even in the world? Would the original Bitcoin value goes down?
What is your thought on this?
This changes nothing, i have been saying for some time that this is going to happen, for the average person having a cryptocurrency gives them no advantage, and for the user that truly know what bitcoin is about then they are not going to invest in a coin that will probably been able to be mined at will by the central bank and even if it does not begin like that the code can always be changed as they always do. "Sberbank CEO Herman Gref has “agreed” on the development of a Russian national cryptocurrency with the country’s central bank. Sberbank is Russia’s major state-controlled bank. In unofficial reports from local news aggregators, the so-called “Russian Bitcoin” will use Sberbank as its base and will be “the only cryptocurrency freely available for sale and purchase” in the country. “All other [cryptocurrencies] will only be available via exchanges or trading platforms,” the Telegram news channel DeСenter reports Friday."
https://cointelegraph.com/news/russian-bitcoin-will-be-countrys-only-freely-tradable-crypto-sberbank-ceo
What type of impact(s) will this have on the original Bitcoin? Would the Russian Bitcoin survive? Would the original Bitcoin be treated as a lower "second tier" crytocurrency in Russia or even in the world? Would the original Bitcoin value goes down?
What is your thought on this?
June 02, 2017, 09:34:19 AM
There shouldnt be any impact. This RussiN BTC isnt even btc. It is just something they are doing digitally to lower their expenses.
It doesnt sound like they are having decentralized miners confirming transactions. Sounds more like a bamboozle to centralize currency more.
It doesnt sound like they are having decentralized miners confirming transactions. Sounds more like a bamboozle to centralize currency more.
June 02, 2017, 09:30:57 AM
Yeah... other cryptocurrencies will only be available freely by just buying them.
Quote
All other [cryptocurrencies] will only be available via exchanges or trading platforms
Isn't that how everyone buys cryptocurrencies anyway? So isn't this "only freely tradeable" crypto thing just clickbait nonsense?
June 02, 2017, 09:27:30 AM
I don't think so that this coin will have any effect on Bitcoin price now. I'm sure that those cryptocurrency aren't decentralized because government involve out there. This cryptocurrency will be same as typical crypto's and I don't see any special on it.
June 02, 2017, 09:26:42 AM
When many people interest on bitcoin, the value will increased , so IMO if Russian legalize bitcoin , I think the value will increase like it did last 25 May that cause by japanese's demand since their goverment legalize bitcoin officially.
Bitcoin is unique currency, I'm sure that it has unique way to make profit
Bitcoin is unique currency, I'm sure that it has unique way to make profit
June 02, 2017, 09:24:50 AM
This looks a lot like Ripple to me.
I would bet that if the Sberbank ever run out of tokens, they'll hard fork like savages to add more.
What about the mineability of this ? I'm really curious to see what coin will they fork/adapt for their needs
Bitrubles, here we are
I would bet that if the Sberbank ever run out of tokens, they'll hard fork like savages to add more.
What about the mineability of this ? I'm really curious to see what coin will they fork/adapt for their needs
Bitrubles, here we are
June 02, 2017, 09:21:46 AM
This future currency has nothing to do with bitcoin, this will be what all countries will do in the future, create a digital version of their currency. It will be a way to move the money through a blockchain, the process is faster and goverments can control all transactions. Bitcoin is another thing as it allows you to make anonymous transactions and not rely on banks, among other advantages. Therefore, the impact will be, in any case, minimal.
June 02, 2017, 09:20:40 AM
Russian is planning to have its own version of Bitcoin backed by the Sberbank.
"Sberbank CEO Herman Gref has “agreed” on the development of a Russian national cryptocurrency with the country’s central bank. Sberbank is Russia’s major state-controlled bank. In unofficial reports from local news aggregators, the so-called “Russian Bitcoin” will use Sberbank as its base and will be “the only cryptocurrency freely available for sale and purchase” in the country. “All other [cryptocurrencies] will only be available via exchanges or trading platforms,” the Telegram news channel DeСenter reports Friday."
https://cointelegraph.com/news/russian-bitcoin-will-be-countrys-only-freely-tradable-crypto-sberbank-ceo
What type of impact(s) will this have on the original Bitcoin? Would the Russian Bitcoin survive? Would the original Bitcoin be treated as a lower "second tier" crytocurrency in Russia or even in the world? Would the original Bitcoin value goes down?
What is your thought on this?
Won't have any effect because it is just a digitized fiat currency, it has none of the characteristics of Bitcoin beyond being their own "crypto" in name only. As such, it will have a minimal impact on Bitcoin as a whole, however there will likely be some benefits for Russian citizens because of this."Sberbank CEO Herman Gref has “agreed” on the development of a Russian national cryptocurrency with the country’s central bank. Sberbank is Russia’s major state-controlled bank. In unofficial reports from local news aggregators, the so-called “Russian Bitcoin” will use Sberbank as its base and will be “the only cryptocurrency freely available for sale and purchase” in the country. “All other [cryptocurrencies] will only be available via exchanges or trading platforms,” the Telegram news channel DeСenter reports Friday."
https://cointelegraph.com/news/russian-bitcoin-will-be-countrys-only-freely-tradable-crypto-sberbank-ceo
What type of impact(s) will this have on the original Bitcoin? Would the Russian Bitcoin survive? Would the original Bitcoin be treated as a lower "second tier" crytocurrency in Russia or even in the world? Would the original Bitcoin value goes down?
What is your thought on this?
So to answer you questions; Nothing, maybe, no, no.
June 02, 2017, 09:13:25 AM
This doesn't gonna big impact, because already several countries have generated their own cryptocurrency for all transactions and trading needs. As a part Russia long back itself revealed that it's gonna use bitcoin's platform for making the financial structure perfect. So in one or other way it depends on bitcoin, that too for cross border transaction they cannot use their token. So an bitcoin incorporated service can be expected from Russia.
June 02, 2017, 09:09:20 AM
Russian is planning to have its own version of Bitcoin backed by the Sberbank.
"Sberbank CEO Herman Gref has “agreed” on the development of a Russian national cryptocurrency with the country’s central bank. Sberbank is Russia’s major state-controlled bank. In unofficial reports from local news aggregators, the so-called “Russian Bitcoin” will use Sberbank as its base and will be “the only cryptocurrency freely available for sale and purchase” in the country. “All other [cryptocurrencies] will only be available via exchanges or trading platforms,” the Telegram news channel DeСenter reports Friday."
https://cointelegraph.com/news/russian-bitcoin-will-be-countrys-only-freely-tradable-crypto-sberbank-ceo
What type of impact(s) will this have on the original Bitcoin? Would the Russian Bitcoin survive? Would the original Bitcoin be treated as a lower "second tier" crytocurrency in Russia or even in the world? Would the original Bitcoin value goes down?
What is your thought on this?
"Sberbank CEO Herman Gref has “agreed” on the development of a Russian national cryptocurrency with the country’s central bank. Sberbank is Russia’s major state-controlled bank. In unofficial reports from local news aggregators, the so-called “Russian Bitcoin” will use Sberbank as its base and will be “the only cryptocurrency freely available for sale and purchase” in the country. “All other [cryptocurrencies] will only be available via exchanges or trading platforms,” the Telegram news channel DeСenter reports Friday."
https://cointelegraph.com/news/russian-bitcoin-will-be-countrys-only-freely-tradable-crypto-sberbank-ceo
What type of impact(s) will this have on the original Bitcoin? Would the Russian Bitcoin survive? Would the original Bitcoin be treated as a lower "second tier" crytocurrency in Russia or even in the world? Would the original Bitcoin value goes down?
What is your thought on this?
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