Topic: This will make any positive impact in crypto space? (Read 308 times)
One help this can do to this space is to help the expansion of the Cryptocurrency community to a larger one. Aside this, no ithe rmajor impact because it won't be decentralized and if not, we are still in the same cycle.
We've been hearing several countries planning to take this kind of innovation and in my opinion, it might have an impact but don't expect that this will bring a huge influence on crypto space since, after all, it's a centralized digital currency, and it won't promote crypto. However, when people start to adapt to the digital currency, it can be a way for them to recognize crypto. And it can also help them to easily understand how digital currency and transaction work so when they get to know crypto, it will be easy for them to understand it as well.
In Russia, everything is still very incomprehensible with cryptocurrencies, one day they prohibit the use of cryptocurrencies, second day they allow the use of cryptocurrencies, everything changes there every day, and for now, it is certainly not worth thinking that this news are true, but if this really will happen, then I think the growth of cryptocurrencies provided.
Many advantage using cryptocurrency as payment transaction because when sending money with bigger amount to other country we can sent faster and lower fees transaction, you can try to sent billion USD to other country using bank trough, how difficulty system to sent your money and have fill many form, but when you sent your money through bitcoin and altcoin you can sent just few minute without have difficulty with transaction system, exactly you just pay lower fee when sending big amount of your money trough bitcoin and altcoin, each transaction take about $1 to 4$ depend which currency do you use.
Yes, it is easy to send money, it is very clear that the cryptocurrency system is the right thing to use, because it is very simple and does not make it difficult for us to prepare the files we need, only that only applies to those who really are. understand cryptocurrency and have been in crypto for a long time, while for people who are not familiar with the world of crypto, of course it will be difficult to do this.Digital ruble system as in just cashless fiat system? Or will it be a centralized crypto currency?
https://www.coindesk.com/bank-of-russia-chief-talks-digital-ruble-sees-pilot-in-2021 Based on this news article, It's most likely that they are going to make a centralized digital currency and I think there's no chance that it's going to be a stablecoin since they didn't specifically said "cryptocurrency" but instead "Digital currency", not even a centralized cryptocurrency like XRP.
With that, I wouldn't really see this as a positive news on crypto space.
Because of the pandemic governments are now on cashless transaction China and Russia are leading on creating one for themselves they will only serves their citizen but in no way to replace Cryptocurrency among their supporters in countries where this digital currency are created, the positive impact is people including those unbelievers will now have experience what it's like to use digital currency and it's a prior introduction to Bitcoin.
I think not gonna make significant impact whatsoever but it might be impactful in Russia. However, the word "digital currency" doesn't necessarily means crypto and in this case Russia could create their own system other than using blockchain which also means it's gonna be different than crypto. But it's always such a refreshing thing to see many countries slowly switched into digitalizing everything. eliminating the obsolete payment method.
Will it have a positive impact to crypto? I'm not going to put my hopes that high but there's also a chance that the masses will be more familiarized with cryptocurrencies when they're introduced to CBDCs. Who knows if they'll become investors/traders once they have a basic understanding.
It's also possible that those who've heard of crypto before might not be interested anymore because there's a CBDC that they can use.
It's also possible that those who've heard of crypto before might not be interested anymore because there's a CBDC that they can use.
I agree I consider this a step to introduction to Cryptocurrency, people who are just introduced to this form of Cryptocurrency will likely go for a real Cryptocurrency, so many people are not yet in Cryptocurrency for lack of basic understanding about Cryptocurrency, but if their country will introduce it to them they will have a basic knowledge and it's a big step to step in the real Crypto.
For people who loves to explore this might be the chance to bring them inside crypto industry, there are so many opportunities that it will drag them inside and start supporting this market.
From curiosities to actual participations with crypto, that always a possibilities since there are significance that the chain already being used by the government.
Good thing to hear this news, more people to gather and start using this system will bring another
stages for blockchain/crypto acceptance.
Elvira Nabiullina, head of Russia's central bank, today said that a pilot version of a digital ruble could be ready by 2021. A Russian CBDC would “make payments faster, simpler and safer,” the country’s central bank also said in a report. Here is the source: https://www.youtube.com/watch?v=J2mmajgIYPA
This ain't the first time we've seen news like this one, we need more than words right now, I don't see how this will have impact on crypto, let see, this particular russian coin is CBDC right? Of course it won't have any impact, PayPal never said they will only support central bank digital currency but Bitcoin and other popular coins which I believe that's why we are bullish presently. 
Will it have a positive impact to crypto? I'm not going to put my hopes that high but there's also a chance that the masses will be more familiarized with cryptocurrencies when they're introduced to CBDCs. Who knows if they'll become investors/traders once they have a basic understanding.
It's also possible that those who've heard of crypto before might not be interested anymore because there's a CBDC that they can use.
It's also possible that those who've heard of crypto before might not be interested anymore because there's a CBDC that they can use.
I agree I consider this a step to introduction to Cryptocurrency, people who are just introduced to this form of Cryptocurrency will likely go for a real Cryptocurrency, so many people are not yet in Cryptocurrency for lack of basic understanding about Cryptocurrency, but if their country will introduce it to them they will have a basic knowledge and it's a big step to step in the real Crypto.
I don't understand Russian a bit so I can't read the details of the video, I'm looking for some of the same articles about the news, I think it's good enough that digital payments should be supported for now and in the future, especially using blockchain or bitcoin too will help the people's welfare as well as the speed of transactions without having to use physical money
Many advantage using cryptocurrency as payment transaction because when sending money with bigger amount to other country we can sent faster and lower fees transaction, you can try to sent billion USD to other country using bank trough, how difficulty system to sent your money and have fill many form, but when you sent your money through bitcoin and altcoin you can sent just few minute without have difficulty with transaction system, exactly you just pay lower fee when sending big amount of your money trough bitcoin and altcoin, each transaction take about $1 to 4$ depend which currency do you use. 
Generally speaking, no, most of these movement from the governments are just to keep powers as they are among the world powers, this will just be a digital currency base which will be centralize and control by the same government, so, this has nothing to do with the general cryptocurrency space. For what they are (government), i won't be interested in all of these coins from these government becasue they won't give freedom to the oppressed. I will go with the decentralized cryptocurrency to hold onto my freedom.
Certain rules and regulations will apply only if they introduce their countries own coin, yes the government will have a restriction without any doubt. But for independent coins the government can't do anything, also people will give importance only to those coins which will be familiar and profitable to them.
I don't understand Russian a bit so I can't read the details of the video, I'm looking for some of the same articles about the news, I think it's good enough that digital payments should be supported for now and in the future, especially using blockchain or bitcoin too will help the people's welfare as well as the speed of transactions without having to use physical money
Will it have a positive impact to crypto? I'm not going to put my hopes that high but there's also a chance that the masses will be more familiarized with cryptocurrencies when they're introduced to CBDCs. Who knows if they'll become investors/traders once they have a basic understanding.
It's also possible that those who've heard of crypto before might not be interested anymore because there's a CBDC that they can use.
It's also possible that those who've heard of crypto before might not be interested anymore because there's a CBDC that they can use.
Thats exactly what I was thinking. Crypto space has expanded largely but still a massive number of people still in the dark about what a digital currency is and how it works. I think people will be introduced to digital currency through this and this can be a gateway to involve in cryptocurrency for many people. Once they get familiar with the digital currency they will understand cryptocurrency too.
I believe this news is one of the news that will trigger the peak of the bull market at the end of 2021, there is a possibility that cryptocurrency will become an option in making digital rubles.
it would be better if there is a special site that provides regular updates about the creation of this digital ruble,
this will make it easier for crypto investors to monitor the development of the digital ruble.
it would be better if there is a special site that provides regular updates about the creation of this digital ruble,
this will make it easier for crypto investors to monitor the development of the digital ruble.
China leads for having their own kind of Digital Yuan and now Russia proposed their own kind of digital currency too. Its not impossible that sooner or later almost all of the 1st world countries will have theirs too. But despite of this i am worried about the standing of other altcoins in the market. I bet that bitcoin could be still to the place where it was placed but the mere fact that it has a lot more potential competitive digital currency that will grow if each country would proposed their own kind of digital currency.
I believe this news is one of the news that will trigger the peak of the bull market at the end of 2021, there is a possibility that cryptocurrency will become an option in making digital rubles.
it would be better if there is a special site that provides regular updates about the creation of this digital ruble,
this will make it easier for crypto investors to monitor the development of the digital ruble.
it would be better if there is a special site that provides regular updates about the creation of this digital ruble,
this will make it easier for crypto investors to monitor the development of the digital ruble.
There is a lot of taking about digital currencies. Whether it will impact crypto in positive way or negative. In my opinion in short time it will create a hype for cryptos but in long term Digital currency hae nothing to do with Crypto. Digital currency is the same old bank money but now digitally . It will surelly effect Banking system and the way we transact in day to day life. But no effect to crypto in long term according to me.
It will just enhance Russia's monetary policy or even push out their banking system. But for crypto space, really hard to see if it has a effect on us. Yes, we all know digital transactions, but we also wanted anonymity which this CBCD can't give to us. The only impact I can see is that maybe people will be curious about what cryptocurrencies it and maybe some of them will invest or majority will not, hard to say.
Russia's government has banned crpyto trading years ago and today the representative of Russia central bank talks about faster, simpler, and safer payments. Crpyto is a key to all required financial transparency but the government shouldn't ban the projects in the crypto ecosystem. The latest decision can lead to the increasing popularity of cryptocurrencies in Russia.
If they allow bitcoin then it can be good but if they only the Digital Rubble then I think this is a different scenario and this is something that crypto enthusiast don’t want to happen, because it is a centralized currency especially under the control of the government. There might be an impact on the market because of this but I’m still looking for more support coming from Russia with regards to Bitcoin adoption. 
Russia's government has banned crpyto trading years ago and today the representative of Russia central bank talks about faster, simpler, and safer payments. Crpyto is a key to all required financial transparency but the government shouldn't ban the projects in the crypto ecosystem. The latest decision can lead to the increasing popularity of cryptocurrencies in Russia. Digital Rub can be real if the government can help the startup projects to survive especially in the pandemic. I know many new projects have move their office from Russia to Estonia due to tight regulation and corruption facts.
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