If Russian president Putin accept Bitcoin as a legal tender, i think it is because of the problem between Russia and Ukraine, because before now i over heard that Russian country ban Bitcoin before now, maybe from what I'm seeing the country have notice that Bitcoin is one of the options that will liberate them from this economic crisis's that is in line to affect both parties that is in battle line between Russia and Ukraine
true, because bitcoin will not only bring Russia out of the economic crisis but the main role is that it will not make anyone in the world who will be able to embargo them. because it is currently seen in many countries that have started freezing the assets of Russian citizens, both for individuals and even for companies that have assets in the country that carried out the freezing. Of course this will make the Russian economy disrupted because the Russian currency will be difficult to accept, by providing an opportunity to receive bitcoin, there is a solution that can be done from the embargo that has been carried out. 
Topic: Russia's approval of BTC - page 4. (Read 1543 times)
Russia will need to buy $80billion in BTC to cover for the trade balance sheet imports. That would also imply its remaining trading partners will accept BTC.
It would be totally stupid buying 80 billion in BTC since there is not that much available on exchanges and will need to keep buying at prices of 500k and 1million USD if so much Rubble or foreign exchange held by Russia finds an entrance to exchanges or any OTC desks.
It could buy a few million here and there, and those selling will get visits from the feds.
They will not do that for sure, that is just way too much money, but do not tell me it is impossible neither. I mean of course you can't do that all together, but like 100 million a day? That would not be impossible to hide, and considering the main export of Russia is hiding information and stealing it from others, I would say that putting up 100 million a day should not be a big deal. That would not cover all of it, so they would have to do big numbers once in a while, but it is really not impossible to get like 5-10 billion out in the next 3 months, and maybe even 20 billion or so by the end of the summer. That is not all of it, but it is not zero neither. It would be totally stupid buying 80 billion in BTC since there is not that much available on exchanges and will need to keep buying at prices of 500k and 1million USD if so much Rubble or foreign exchange held by Russia finds an entrance to exchanges or any OTC desks.
It could buy a few million here and there, and those selling will get visits from the feds.
I see that this is only talk about the adoption of bitcoin, and hypothetical ideas about it, there are no laws and supporting documents, perhaps they will soon adopt laws on cryptocurrency and bitcoin, so it's premature to talk about the adoption of bitcoin and cryptocurrencies in the Russian Federation.
Russia as a big country certainly has things to rely on, if indeed there will be sanctions imposed on them. we know that Russia could use cryptocurrency to blunt all countries that want to do any sanctions. including at this time because of their war with ukraine which has been heard at this time that the sanctions are coming from the USA.
Russia has indeed prepared well with the help of companies having many cryptocurrency tools at their disposal to evade sanctions, including a so-called digital ruble and ransomware.
Of course they will do whatever it takes to not be afraid of all the possible sanctions.
Russia has indeed prepared well with the help of companies having many cryptocurrency tools at their disposal to evade sanctions, including a so-called digital ruble and ransomware.
Of course they will do whatever it takes to not be afraid of all the possible sanctions.
I was thinking that too. From what I understand, western agencies can't even rate Russia anymore, didn't the EU forbid them from doing it? Or am I mistaken?
I think it's very hard that a country move part of their capital in a cryptocurrency. The world is organized with trading/financial agencies that gives a rating to your country. Which would be be the rating for Russia if they move assets in BTC / other currencies? For this reason, I think this is not suitable.
If Russian president Putin accept Bitcoin as a legal tender, i think it is because of the problem between Russia and Ukraine, because before now i over heard that Russian country ban Bitcoin before now, maybe from what I'm seeing the country have notice that Bitcoin is one of the options that will liberate them from this economic crisis's that is in line to affect both parties that is in battle line between Russia and Ukraine
The interests of the state and the interests of the people very often do not coincide. Bitcoin gives great freedom, and now the leadership does not have the ability to control cryptocurrencies, so Russia has the largest dark market in the world. But the most important thing is that no one forbids the use of cryptocurrencies, and the current prohibitions in the form of payment with cryptocurrencies for goods are not controlled. I very often meet on trading platforms the phrase that it is possible to pay in USDT 
Russia approved bitcoin as a form of money in order to hedge against the Russian ruble's depreciation and the Biden sanctions. What are your thoughts?
Putin is in favor of establishing bitcoin as a kind of money since he is threatening war and Biden's economic penalties will harm the ruble. He might still use bitcoin to transact in the global economy. I'd want to hear everyone's thoughts on this. Thanks for your response in advance
Putin is in favor of establishing bitcoin as a kind of money since he is threatening war and Biden's economic penalties will harm the ruble. He might still use bitcoin to transact in the global economy. I'd want to hear everyone's thoughts on this. Thanks for your response in advance
Nope. Russia will need to buy $80billion in BTC to cover for the trade balance sheet imports. That would also imply its remaining trading partners will accept BTC.
It would be totally stupid buying 80 billion in BTC since there is not that much available on exchanges and will need to keep buying at prices of 500k and 1million USD if so much Rubble or foreign exchange held by Russia finds an entrance to exchanges or any OTC desks.
It could buy a few million here and there, and those selling will get visits from the feds.
Russia has not officially made bitcoin a legal tender, they only started the process before the war broke out. As if Russia was not prepared for all the economic sanctions before embarking the war, their currency depreciated and Bitcoin came to their aid. Bitcoin also helped their opponent country which is Ukraine by giving them a means to recieve international donation from people and government. This is telling us that bitcoin is for everyone who loves it and if you don't love bitcoin when this kind of challenge happens to you, you will embrace bitcoin.
After the war, the two countries will no longer be enemies of bitcoin. The two countries may likely fully legalise the use of cryptocurrency in their various countries. This will be a very great success for bitcoin if it happens.
Cryptocurrencies are not legal tender, but a new business is already emerging in Russia. In telegram channels, you can buy household appliances from Poland, through Belarus or in other countries, through Kazakhstan and pay for it with cryptocurrencies. Guarantors are already appearing and prices are much more profitable. After such sanctions, most of the business will be able to use cryptocurrencies. After the war, the two countries will no longer be enemies of bitcoin. The two countries may likely fully legalise the use of cryptocurrency in their various countries. This will be a very great success for bitcoin if it happens.
Can you include the source link if Russia has accepted Bitcoin as a currency
What I read last that we also discussed on this forum is that Russia wants to accept Bitcoin as a currency, they are still on it, you can check this thread for that: Russia to make bitcoin a currency
What I read last that we also discussed on this forum is that Russia wants to accept Bitcoin as a currency, they are still on it, you can check this thread for that: Russia to make bitcoin a currency
Russia approved bitcoin as a form of money in order to hedge against the Russian ruble's depreciation and the Biden sanctions. What are your thoughts?
Putin is in favor of establishing bitcoin as a kind of money since he is threatening war and Biden's economic penalties will harm the ruble. He might still use bitcoin to transact in the global economy. I'd want to hear everyone's thoughts on this. Thanks for your response in advance
Maybe it is political reason or not, nobody can know why, it can be and it might not be the reason. I do not have any point regarding this but one of the function of bitcoin is to help during inflation just like gold. Putin is in favor of establishing bitcoin as a kind of money since he is threatening war and Biden's economic penalties will harm the ruble. He might still use bitcoin to transact in the global economy. I'd want to hear everyone's thoughts on this. Thanks for your response in advance
Russia has not officially made bitcoin a legal tender, they only started the process before the war broke out. As if Russia was not prepared for all the economic sanctions before embarking the war, their currency depreciated and Bitcoin came to their aid. Bitcoin also helped their opponent country which is Ukraine by giving them a means to recieve international donation from people and government. This is telling us that bitcoin is for everyone who loves it and if you don't love bitcoin when this kind of challenge happens to you, you will embrace bitcoin.
After the war, the two countries will no longer be enemies of bitcoin. The two countries may likely fully legalise the use of cryptocurrency in their various countries. This will be a very great success for bitcoin if it happens.
After the war, the two countries will no longer be enemies of bitcoin. The two countries may likely fully legalise the use of cryptocurrency in their various countries. This will be a very great success for bitcoin if it happens.
Russia approved bitcoin as a form of money in order to hedge against the Russian ruble's depreciation and the Biden sanctions. What are your thoughts?
Putin is in favor of establishing bitcoin as a kind of money since he is threatening war and Biden's economic penalties will harm the ruble. He might still use bitcoin to transact in the global economy. I'd want to hear everyone's thoughts on this. Thanks for your response in advance
Putin is in favor of establishing bitcoin as a kind of money since he is threatening war and Biden's economic penalties will harm the ruble. He might still use bitcoin to transact in the global economy. I'd want to hear everyone's thoughts on this. Thanks for your response in advance
Thats bad for us, thats bad for the bitcoin economy. The man might just manipulate the market heavily as he would be angry after the sanctions that are being imposed on the country. I think he had great plan ahead of everything when he was planning for the war. He might knew what would happen after this, how ruble will fall as America is the biggest enemy who will be in the favour of Ukraine. Same thing happened, and he knew Bitcoin would be the safe heaven to inject those penalties back into the global economy. They can shut down the internet, they might get banned from the banks, but how will they ban the crypto's and its trades?
Almost 19 million out of 21 possible bitcoins have been mined. Why would Russia use bitcoin as a means of settlement with other countries if you do not control the issue and do not understand who controls most of the bitcoins. After all, at any moment the price of bitcoin can increase or decrease, which is very bad for world trade. It is probably more profitable to create your own payment system on the blockchain. And for small transactions, cryptocurrencies are very convenient.
Seeing how much China despised BTC which they ban crypto and yet Russia made it a currency could be something that might hold the relationship between the two countries. They might have something to disagree with this time.
Biden's economic sanction is just SWIFT exclusion which Russia or China had already tried excluding themselves. If they cut SWIFT, Russia will just use thier own or the Cross-Border Interbank Payment System (CIPS) of China.
Homepage : https://keonhacai.wiki/
please stop spamming the forum of your Site link , your account posted that since februaryBiden's economic sanction is just SWIFT exclusion which Russia or China had already tried excluding themselves. If they cut SWIFT, Russia will just use thier own or the Cross-Border Interbank Payment System (CIPS) of China.
Homepage : https://keonhacai.wiki/
and your post history tells that all
https://bitcointalksearch.org/user/keonhacaiwiki-3447764
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Historical events will prove that Bitcoin has the characteristics of borderless and super-sovereignty, and the only international monetary system and settlement network is the sense of security we are looking for.
agreed on that mate, this is what people must learn if they really wanted to invest and trust bitcoin for long term process .
Seeing how much China despised BTC which they ban crypto and yet Russia made it a currency could be something that might hold the relationship between the two countries. They might have something to disagree with this time.
Biden's economic sanction is just SWIFT exclusion which Russia or China had already tried excluding themselves. If they cut SWIFT, Russia will just use thier own or the Cross-Border Interbank Payment System (CIPS) of China.
Homepage : https://keonhacai.wiki/
Biden's economic sanction is just SWIFT exclusion which Russia or China had already tried excluding themselves. If they cut SWIFT, Russia will just use thier own or the Cross-Border Interbank Payment System (CIPS) of China.
Homepage : https://keonhacai.wiki/
Russia approved bitcoin as a form of money in order to hedge against the Russian ruble's depreciation and the Biden sanctions. What are your thoughts?
Russia knows, if it doesn't take the right steps for now Bitcoin as an Alternative, it might get even worse in the future, for now Russia knows Bitcoin is the right move to counter european policy on ruble sanctions.Maybe putin thinks the ruble, will experience a sharp decline and fall due to this war, Bitcoin does not, if Bitcoin is made as a shield to protect the value of the ruble, i think that makes sense, i think if putin holds bitcoin as a value asset during this war, my judgment is that Biden and Europe are a little tired of silencing Russia despite the sanctions imposed on the ruble, for now there is no mystery that can dissuade users from using Bitcoin.
When Russia announce that they accepted the Bitcoin as money form, can you explain the news more?
I don’t remember reading any news that say that Russia accepted Bitcoin as a money, maybe if there is any news that said such, wouldn’t mind if you can link me up to that news so that I can read about it. When you say that they accepted it as a money form I guess that you mean the way El Salvador has declared it a legal tender? Meaning that it is the same thing with their dollar and can be used to purchase anywhere? I don’t think that’s the case with Russia, the news I read said that they have declared it a legal asset, there is a difference between that and what you have said here.
Now, after the failure of the attack on Ukraine and the imposition of unprecedented international sanctions against Russia, the Russian government must have changed its priorities and tasks. The main thing for Russia now is not to let the remaining capital flow out of the country. Cryptocurrency will just contribute to this. Therefore, I do not think that now they will turn to cryptocurrency there.
Russians have already started buying and this is one of the reasons we are seeing massive movements in bitcoin prices. Also, the world has realized that in a war situation, only the cash in hand and crypto in decentralized wallets are the safest way to store the wealth. The banks and plastic cards are useless in this situation. People are unable to use debit or credit cards if the governments/banks ban their usage in crisis situations.
Of course. Russia had no other choice but to buy Bitcoin in order to help circumvent economic sanctions imposed by several countries worldwide. Bitcoin is truly unstoppable, so that makes it the best sound money the world has ever seen. And that is just the tip of the iceberg as the best is yet to come. Slowly but surely, we've been seeing a new wave of countries legalizing Bitcoin for mainstream use. We now have Russia & Ukraine in the game, so I wonder which country will be next?
With major investments from companies to mainstream governments into Bitcoin, the price per coin should've soared by now. If Gold reached a new ATH, then Bitcoin can do better. We'll see how everything will play out in the long run as Fiat collapses in its entirety. I'd be surprised if Bitcoin becomes the new unit of account used in global commerce. That would be a real game-changer. Just my opinion
Ukraine also suddenly legalized cryptocurrencies a few days ago. The Ukrainian parliament had declared that all crypto assets will be treated legally after a new bill passed. The new law was met with approval after 272 votes vote “for”.
I can't help but thing that both sides of the conflict did so at least partially because of the conflict.
Of cause but hopefully, they will continue to support the use of cryptocurrencies long after this war is ended. This is no surprise as it is easier now to use crypto or receive donations by crypto rather than fiat money as we have seen since most of the banks are not working or have been destroyed, so this is why I said hopefully they remember how useful crypto was during this hard times for their country. I can't help but thing that both sides of the conflict did so at least partially because of the conflict.
Historical events will prove that Bitcoin has the characteristics of borderless and super-sovereignty, and the only international monetary system and settlement network is the sense of security we are looking for.
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