Granted I have only been around for around 8 months, but I've never seen such a concerted effort by bulls to try to spread bullshit.
I guess this forum is no longer any different than the btc-e trollbox. What a shame.
The most ridiculous part is that so many of the bulls try to act like they are trying to save the bears. Like they actually give 2 shits about the rest of us. smh
Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 30128. (Read 26710372 times)
January 27, 2014, 02:02:35 PM
January 27, 2014, 02:02:02 PM
While everyone is busy talking about Charlie Shrem's arrest, no one seems to notice the REAL reason for the market plunge. That is, 3 hours ago Bitcoin was officially banned in Russia.
From what I can understand of the Google translation they did not quite ban it, but declared it illegal for use as currency (like China did), forbade banks to handle it (like China did, and banks in most other countries prudently refrained on their own), warned citizens of its high investment risk, and finally scared everybody with "you may find yourself involved in nasty crimes if you try to work with it".
My translation of a few key lines that I posted in the related thread:
It does start a bit rough:
"The Central bank will deem any services concerning exchange of virtual currencies into Rubbles as a potential involvement in handling of suspicious activities in accordance to the law against money laundering of funds acquired by criminal means and finance of terrorist organisations. The following warning was issued by CB towards the Russian legal entities."
Further, a citation from CB:
"Virtual currencies lack in supporting and responsible for them legal bodies. Operations bear a speculative character, are processed on the so-called virtual exchanges and carry with them a high risk of loosing in value."
And a little bit further:
"CB warns citizens and legal entities, first and foremost the credit institutions and non-credit financial institutions from using virtual currencies for exchanging them into goods (work, services) and for monetary mediums as Russian, so foreign."
Too lazy to translate it in whole, but it does resemble the Chinese warning.
"The Central bank will deem any services concerning exchange of virtual currencies into Rubbles as a potential involvement in handling of suspicious activities in accordance to the law against money laundering of funds acquired by criminal means and finance of terrorist organisations. The following warning was issued by CB towards the Russian legal entities."
Further, a citation from CB:
"Virtual currencies lack in supporting and responsible for them legal bodies. Operations bear a speculative character, are processed on the so-called virtual exchanges and carry with them a high risk of loosing in value."
And a little bit further:
"CB warns citizens and legal entities, first and foremost the credit institutions and non-credit financial institutions from using virtual currencies for exchanging them into goods (work, services) and for monetary mediums as Russian, so foreign."
Too lazy to translate it in whole, but it does resemble the Chinese warning.
January 27, 2014, 01:56:27 PM
Granted I have only been around for around 8 months, but I've never seen such a concerted effort by bears to try to spread FUD.
I guess this forum is no longer any different than the btc-e trollbox. What a shame.
The most ridiculous part is that so many of the bears try to act like they are trying to save the bulls. Like they actually give 2 shits about the rest of us. smh
I guess this forum is no longer any different than the btc-e trollbox. What a shame.
The most ridiculous part is that so many of the bears try to act like they are trying to save the bulls. Like they actually give 2 shits about the rest of us. smh
It comes with price and their hope they'll become rich with BTC.
Nobody would give a shit about it if it is at 5$ still. So, it's good
January 27, 2014, 01:55:44 PM
Mad respect to whoever had the 1500btc wall at $830 on btce yesterday and had it nearly entirely filled.
January 27, 2014, 01:54:56 PM
Granted I have only been around for around 8 months, but I've never seen such a concerted effort by bears to try to spread FUD.
I guess this forum is no longer any different than the btc-e trollbox. What a shame.
The most ridiculous part is that so many of the bears try to act like they are trying to save the bulls. Like they actually give 2 shits about the rest of us. smh
I guess this forum is no longer any different than the btc-e trollbox. What a shame.
The most ridiculous part is that so many of the bears try to act like they are trying to save the bulls. Like they actually give 2 shits about the rest of us. smh
January 27, 2014, 01:53:08 PM
But it's really interesting to see how Western countries basically said - Bitcoin, you're free to make seleme rich 
but eastern play quite different.
What a gap in mentality, it's visible in everything.
but eastern play quite different. What a gap in mentality, it's visible in everything.
Be ready for the burst !
I'm always ready, open mind to all options makes miracles
January 27, 2014, 01:52:45 PM
i guess this is just part of regulating bitcoin exchanges, which is a good thing for the established interests...
once all the laws are passed and exchanges are in full compliancethat should be a big weight lifted the brokers/banks will make all the money.
once all the laws are passed and exchanges are in full compliance
FTFY!
January 27, 2014, 01:48:23 PM
not exactly, it states more closely to: if you will use bitcoins, we might consider you are involved in terrorism and/or money laundering and such...
Only if you are a legal entity, f.e. exchange. Not in a context that any citizen using btc = terrorist
i guess this is just part of regulating bitcoin exchanges, which is a good thing...
once all the laws are passed and exchanges are in full compliance that should be a big weight lifted.
January 27, 2014, 01:48:06 PM
But it's really interesting to see how Western countries basically said - Bitcoin, you're free to make seleme rich but eastern play quite different.
What a gap in mentality, it's visible in everything.
but eastern play quite different. What a gap in mentality, it's visible in everything.
Be ready for the burst !
January 27, 2014, 01:47:54 PM
So sad to see all these bears spreading fud and lies. They just get so frustrated because the price won't go down. They just start making shit up hoping 1 or 2 noobs will fall for it.
January 27, 2014, 01:47:08 PM
But it's really interesting to see how Western countries basically said - Bitcoin, you're free to make seleme rich but eastern play quite different.
What a gap in mentality, it's visible in everything.
but eastern play quite different. What a gap in mentality, it's visible in everything.
January 27, 2014, 01:45:47 PM
Russians don't give a shit about laws anyway so we're fine
January 27, 2014, 01:45:09 PM
In Soviet Russia Bitcoin hodls you.
January 27, 2014, 01:44:26 PM
not exactly, it states more closely to: if you will use bitcoins, we might consider you are involved in terrorism and/or money laundering and such...
Only if you are a legal entity, f.e. exchange. Not in a context that any citizen using btc = terrorist
January 27, 2014, 01:40:06 PM
not exactly, it states more closely to: if you will use bitcoins, we might consider you are involved in terrorism and/or money laundering and such...
From what I can understand of the Google translation they did not quite ban it, but declared it illegal for use as currency (like China did), forbade banks to handle it (like China did, and banks in most other countries prudently refrained on their own), warned citizens of its high investment risk, and finally scared everybody with "you may find yourself involved in nasty crimes if you try to work with it".
While everyone is busy talking about Charlie Shrem's arrest, no one seems to notice the REAL reason for the market plunge. That is, 3 hours ago Bitcoin was officially banned in Russia.
From what I can understand of the Google translation they did not quite ban it, but declared it illegal for use as currency (like China did), forbade banks to handle it (like China did, and banks in most other countries prudently refrained on their own), warned citizens of its high investment risk, and finally scared everybody with "you may find yourself involved in nasty crimes if you try to work with it".
January 27, 2014, 01:38:22 PM
While everyone is busy talking about Charlie Shrem's arrest, no one seems to notice the REAL reason for the market plunge. That is, 3 hours ago Bitcoin was officially banned in Russia.
From what I can understand of the Google translation they did not quite ban it, but declared it illegal for use as currency (like China did), forbade banks to handle it (like China did, and banks in most other countries prudently refrained on their own), warned citizens of its high investment risk, and finally scared everybody with "you may find yourself involved in nasty crimes if you try to work with it".
January 27, 2014, 01:35:28 PM
$30 uptick incoming! (hey it worked before so why not)
January 27, 2014, 01:35:16 PM
While everyone is busy talking about Charlie Shrem's arrest, no one seems to notice the REAL reason for the market plunge. That is, 3 hours ago Bitcoin was officially banned in Russia. No English language news source yet, but Russian newssites are all abuzz about it: http://bitnovosti.com/2014/01/27/bank-rossii-ozvuchil-poziciyu/
Use Google translate, everything is quite clear. Everything is banned, including mining, exchanges, transfers and payment processing. Each company accepting Bitcoin will be automatically charged with "supporting terrorism".
Russia wins the dubious distinction of the first country in the world to officially ban Bitcoin (unlike earlier Thailand myth).
Use Google translate, everything is quite clear. Everything is banned, including mining, exchanges, transfers and payment processing. Each company accepting Bitcoin will be automatically charged with "supporting terrorism".
Russia wins the dubious distinction of the first country in the world to officially ban Bitcoin (unlike earlier Thailand myth).
Stop spreading lies.
January 27, 2014, 01:34:40 PM
Russia wins the dubious distinction of the first country in the world to officially ban Bitcoin (unlike earlier Thailand myth).
Good for them! The people get the government they deserve!
It's not true. Russian government "warns the businesses that getting involved with virtual currencies may be in violation of certain AML laws or something".
I've read the thread about it already.
Often, I tend to comment in jest.
January 27, 2014, 01:34:04 PM
CCMF!
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