Theories of why BTC is restricted in China and Russia

Rishblitz

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I'm nothing without GOD

Quote from: GeorgeFeb on January 13, 2015, 07:06:51 PM

Quote from: Rishblitz on January 13, 2015, 06:54:05 PM

both countries want to help their own currency not make a bunch of Americans and Europeans richer.

Nah, it's coz Russia & China are even more fucked up than the other countries & coz Russian gov want to hold all its cattle managed! Cheesy

I think Russia gets more accomplished politically (internally as in making new bills and such) than the U.S does.

GeorgeFeb

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Quote from: Rishblitz on January 13, 2015, 06:54:05 PM

both countries want to help their own currency not make a bunch of Americans and Europeans richer.

Nah, it's coz Russia & China are even more fucked up than the other countries & coz Russian gov want to hold all its cattle managed! Cheesy

Rishblitz

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I'm nothing without GOD

both countries want to help their own currency not make a bunch of Americans and Europeans richer.

galbros

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Quote from: Jigme on April 01, 2014, 04:20:57 PM

the simple answer is probably the right one. They want control of their own money.

I'd say they want control over their people. If you limit what people can use for money to something only you control, that increases your power.

Totalitarian regimes suppress their citizens, use of bitcoin is simply one example.

Balthazar

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One fool said something and then crowd acts as echo repeater... This kind of behavior reminds me of something. Cheesy

Guys, do you really capable to read only the topic title? Huh

C'mon, it's getting boring.

pitham1

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Quote from: btc-facebook on January 12, 2015, 09:03:25 AM

They still lack of the security (got hacked for example)
so both of them doesn't want to let their people got suffer because of it

You seriously think Bitcoin has been restricted because these governments don't want their people to suffer? Grin

btc-facebook

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They still lack of the security (got hacked for example)
so both of them doesn't want to let their people got suffer because of it

Troonetpt

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Because both of them are not democracy country.
They are afraid people own the free will.

Balthazar

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UP

http://rt.com/news/218019-bill-ban-bitcoin-russia/

It seems that attempt to pass this bill has been failed due to sharp criticism by Ministry of Economic Development.

greenalliancegroup

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The problem with the theory of cheap coins if few of them gov elites do decide to buy boat loads of BTC in China and Russia. Then turn the laws around. The supply and demand theory of the market regardless will go up because a group or someone out there will be buying up the supply.

My belief is that China and Russia believe its ploy from the West to get more capital to flow out of those countries and back to the West. A lot of people I know in China would rather have USD instead RMB because USD is the world currency at this point. USD will be accepted anywhere. I am not saying RMB is not worth anything, but the fact is USD is world currency. So everything that needs to be purchase will have to be in USD. Whoever holds the world's currency stats always benefits because its forced notion that you have to purchase everything with USD on the market.

trc

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Quote from: bryant.coleman on April 11, 2014, 09:25:45 PM

Quote from: trc on April 11, 2014, 01:17:28 PM

How is it irrelevant? Are you sure you are capable of reading and writing? Cheesy

My comment wasn't only about Bitcoin. Watch some news maybe?

I doubt whether you are capable of reading and understanding English. Check the links given by him. That directly contradicts to your initial post.

Interesting. Because I've never even realized that it was contradicting up until you mentioned it. sigh...

In the long run, you can't change a governments general policy by linking to some good news. How nice would that be. This isn't FUD. This is being realistic and not actually against BTC if all you care is that - which seems to be so. Screw the world as far as your coins retain their value.

So thick...

jdun

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I'm not sure about Russia, but I have my theories about China: I think it is a conspiracy to buy cheap coins. I bet they're scaring the world into selling and when they have bought up enough coins they will revamp and say, "ok, exchange is on again"

bryant.coleman

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Quote from: trc on April 11, 2014, 01:17:28 PM

How is it irrelevant? Are you sure you are capable of reading and writing? Cheesy

My comment wasn't only about Bitcoin. Watch some news maybe?

I doubt whether you are capable of reading and understanding English. Check the links given by him. That directly contradicts to your initial post.

trc

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Quote from: Balthazar on April 11, 2014, 04:42:40 AM

Quote from: trc on April 11, 2014, 04:33:24 AM

They don't want rich people and retain wealth levels of individuals; because, duh?!.. Also, ussrcoin sounds about right. They seem to be "missing" the old days.

https://bitcointalksearch.org/topic/m.6160506
https://bitcointalksearch.org/topic/m.5632098

You seem to be another guy who incapable to read the topic. Cheesy

How is it irrelevant? Are you sure you are capable of reading and writing? Cheesy

My comment wasn't only about Bitcoin. Watch some news maybe?

Balthazar

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Quote from: trc on April 11, 2014, 04:33:24 AM

They don't want rich people and retain wealth levels of individuals; because, duh?!.. Also, ussrcoin sounds about right. They seem to be "missing" the old days.

https://bitcointalksearch.org/topic/m.6160506
https://bitcointalksearch.org/topic/m.5632098

You seem to be another guy who incapable to read the topic. Cheesy

trc

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They don't want rich people and retain wealth levels of individuals; because, duh?!.. Also, ussrcoin sounds about right. They seem to be "missing" the old days.

bryant.coleman

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Quote from: Balthazar on April 11, 2014, 01:47:55 AM

Because a name of common currency is supposed to be neutral... Name of the old imperial coins is neutral because all these territories were parts of the Empire in the past. Stupid political correctness, yep. Roll Eyes

Not a good sign, if we are already talking about political correctness. And the currency has yet to come out. Grin

OhMyCoin

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Long live Bitcoin.

ussrcoin

Balthazar

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Quote from: bryant.coleman on April 10, 2014, 09:23:39 PM

Why can't they simply name it as the Ruble?

Because a name of common currency is supposed to be neutral... Name of the old imperial coins is neutral because all these territories were parts of the Empire in the past. Stupid political correctness, yep. Roll Eyes

Quote from: bryant.coleman on April 10, 2014, 09:23:39 PM

And I am not very excited with the idea of granting 12 million Kazakh Muslims free access to Russia without any restrictions.

They already have this opportunity thanks to the Treaty of the CIS... Just like in USSR, without local registration they can spend up to 90 days on Russian territory.

bryant.coleman

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Quote from: Balthazar on April 10, 2014, 12:50:51 PM

This name doesn't matter anyway, because it's just a code name. Real name of common currency is unknown yet...

Why can't they simply name it as the Ruble? And I am not very excited with the idea of granting 12 million Kazakh Muslims free access to Russia without any restrictions.

Topic: Theories of why BTC is restricted in China and Russia (Read 2135 times)