Russian ban may be a catalyst but doesn't cause the level of the dip or change anything fundamentally about the Bitcoin platform. We all knew that these bans could happen. Does this ban make us trust the security of the technology any less? I don't think so. It remains to be seen if the ban is enforceable. Can a technology that solves the Byzantine Generals problem really be banned successfully; without a better alternative?
Russia also wants to have it's own managed internet. Will it also try to ban the one we all use now?
Topic: Russia's total Bitcoin ban is causing the BTC flash crash (Read 3221 times)
Maybe bitcoin was going to crash anyway and Russia's ban made it crash a bit sooner than it might have.
Bitcoin has been a subject of controversy since its birth, being widely seen as the currency of tech-savvy geeks or shady drug dealers. This negative publicity has been around since the value of a bitcoin was only a few dollars, but as Bitcoin has evolved this problem has become more serious and is now a threat to the survival of the cryptocurrency. Sadly, these notions have caused a few countries (such as Ecuador and Russia) to simply ban all digital cryptocurrencies like Bitcoin.
Source : http://www.coinssource.com/russia-plans-total-bitcoin-ban-2015/
Source : http://www.coinssource.com/russia-plans-total-bitcoin-ban-2015/
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