Topic: Why is the Russian Federation so interested in Bitcoin (Read 5306 times)
Bitcoin has come out of the dark to the open, it is no longer a tool in the hands of illicit actors, I think the searches on google trends are for investments
There is no technologically oriented country that will not be attracted to bitcoin and blockchain. Don't worry about countries that are pretending to fight bitcoin, they are really interested in bitcoin and the technology behind it.
Obviously, it's huge amount of money is bitcoin...
Even you, if you mined in you house.. And surely that you earn.. You like getting the jackpot outta nowhere
Even you, if you mined in you house.. And surely that you earn.. You like getting the jackpot outta nowhere
As far as I know, Russia is very good at economics, politics and military. Therefore, they soon realize the potential, the development trend of bitcoin money, I am not surprised. I think in the future not only Russia but bitcoin will grow strongly, attract investors and will be confirmed many countries around the world.
They are interested in bitcoin because they understand the advantages of bitcoin also they can predict the future of bitcoin.
The Russians are always upgraded in the case of technology and the may find that bitcoin is the most beneficial platform and it has a big future thats why.
It is rather difficult to send more than ~7k$ from Russia to any EU/USA account via bank money transfer. The Governament tax service is sure to be interested about this transfer (Especially it is "black" money).
But BTC transactions allow Russian people to avoid this barrier
But BTC transactions allow Russian people to avoid this barrier
If the economy crumbles in your country, then you too will be interested in everything that money can bring
Russia likes bitcoin since it's (unfortunately) an excellent way to launder money. Flooz The last big online currency was so rife with this it was actually shut down because of it. It's a shame but sadly something all too prevalent with online currencies.
I heard on BBC Radio 4 the other day that in Russia, £1.8bn worth of bribes are exchanged each year. Bitcoin could certainly be very useful to them.
Russians are extremely interested:
I think most of what you just said can be boiled down to the "store-of-value" function of money. Fiat money is busy dying and taking everybody's hard earned value with it. Governments simply cannot be trusted around money. That's why they so tenaciously try to ensure that anything to do with money flows through their system. Commodities can serve as a store of value, but their physical presence attracts predators. Plus, they are hard to preserve, appraise, and move around.
Bitcoins so neatly solves all these problems and I predict its greatest use, or at least its initial "killer app" is going to be as a store of value. Anybody who buys into this is going to _expect_ that their stash retains at least the purchasing power of the fiat they traded. Maybe that's wishful thinking, but that's common psychology nonetheless. No matter what happens to the BTC ecosystem, unless it's 100% eradicated, the holders of the BTC will bring the system back to life, in order to recover their value. You'd need a world-wide prison planet to snuff this. Sure, that's the ambition of many politicos, but that's not going to happen. And with BTC in our arsenals it's now a bit less likely than before.
I couldn't agree more.
There is no chance of international outlawing.
Local outlawing will be met with distant jurisdiction cash outs.
Bitcoin's biggest threat is a better bitcoin.
Russians are extremely interested:
I think most of what you just said can be boiled down to the "store-of-value" function of money. Fiat money is busy dying and taking everybody's hard earned value with it. Governments simply cannot be trusted around money. That's why they so tenaciously try to ensure that anything to do with money flows through their system. Commodities can serve as a store of value, but their physical presence attracts predators. Plus, they are hard to preserve, appraise, and move around.
Bitcoins so neatly solves all these problems and I predict its greatest use, or at least its initial "killer app" is going to be as a store of value. Anybody who buys into this is going to _expect_ that their stash retains at least the purchasing power of the fiat they traded. Maybe that's wishful thinking, but that's common psychology nonetheless. No matter what happens to the BTC ecosystem, unless it's 100% eradicated, the holders of the BTC will bring the system back to life, in order to recover their value. You'd need a world-wide prison planet to snuff this. Sure, that's the ambition of many politicos, but that's not going to happen. And with BTC in our arsenals it's now a bit less likely than before.
Quote
realmeas
is right. After some investigation i am should agree with them. There is some (very little) tendency to hoard BTC`s, but surprisingly, there is much more interest in speculation game. That can be seen even from commentaries on topics about BTC in local internet media. Thats topics are rare by the way, so far i am seen only 3 worse any mention, of them. Commentaries are mostly negative, but very rational, - nobody starts blind offence, and behind every comment i am see question - how to make profit on BTC, and do not loose savings.
That`s make me wander, that i am, somehow, allready overexcited with BTC`s, and should take more careful approach to them. From other side, - i am not risking any serious amount anyway, and already gain good profit.
So i am think that resolution should look like this -
Many Russians are interested in BTC, but steal waiting for some signal to start operate with them (except mining, that is already going and spreading like fire). That signal... wait, that signal may be declaring BTC behind the law
.
Probably mostly the free money.
In moscow its not that bad but in the rest of the country $600 per month wages (although this is AFTER the taxes) are considered good, so with bitcoin mining one can easily double the income, with current prices at least.. Even if it fell a few times lower, still it's worth doing for such people.
As of the trust in BC as a currency, I highly doubt anyone does that. I have seen a few people who play buy/sell game at the exchanges but someone who actually saves all their free money in BC? no, I have not encountered such a wonder in any russian forum yet
Also, USD is currently falling in rubles so I doubt someone still saves in them ... I heard some are starting to save in Chinese currency
In moscow its not that bad but in the rest of the country $600 per month wages (although this is AFTER the taxes) are considered good, so with bitcoin mining one can easily double the income, with current prices at least.. Even if it fell a few times lower, still it's worth doing for such people.
As of the trust in BC as a currency, I highly doubt anyone does that. I have seen a few people who play buy/sell game at the exchanges but someone who actually saves all their free money in BC? no, I have not encountered such a wonder in any russian forum yet
Also, USD is currently falling in rubles so I doubt someone still saves in them ... I heard some are starting to save in Chinese currency
Bottle of vodka is not some "fiat currency" 
i promise you that. But it have to many disadvantages, it is fragile, heavy, not compact ...
i promise you that. But it have to many disadvantages, it is fragile, heavy, not compact ... 
...
Dollar is strong in Russia, been that way a few decades, at least.
Dollar is strong in Russia, been that way a few decades, at least.
Dollar is global reserve currency... for now. Some in east bloc just early adopters it seems.
Every nation except USA would love new reserve currency, but changing one fiat fad for another is not winning strategy. But non-fiat, non-physical reserve? That could be interesting!
I'd rather have a dollar than a ruble, though I'd rather have a bottle of vodka - or a bitcoin - than a dollar.
Hopefully they'll dump their USD reserves into bitcoins.
Russians are extremely interested:
1) Ease way to move money. Even high corruption level did not help with avoiding high taxes and fees in that field anymore. At list for regular citizens.
2) Way to save money. Instability of Ruble is known, and regular citizen have no even a bit of trust in government regulation of it. 1998 year was harsh, and will not be forgotten for next 30-50 years (next 1 or 2 generations).
2a) Russian citizens cant trust the dollar, for their savings - that paranoia is in our genome. Looks like it good practise (my own paranoia
).
2b) We see, that for unknown reason Russian government trust dollar to much, and that makes us more suspicious to our government and dollar both. ( Russian mentality always counts government like somebody who wants to cheat you. And, of course, you should answer with cheating government when possible, but this is another story).
2c) We cant trust in euro, because it is wired to tight with IMF (and they wired to $).
2d) We cant trust in oil prices, because oil prices are instable.
2e) We hardly can use gold, diamonds and precious metals, - they are overtaxed (Prisons here are not so comfortable).
3) Opportunity for FREE (relatively) money. Price of electricity is steel low, relatively to European country's.
4) We just like to try something new (well, you should not be surprised - 1917, 1991 as fresh examples).
5) We are ambitious and lazy together. I am doubt that you will find any Russian immigrant working in some dumb house cleaning business more than 5 years after arriving in new country.
Well, there is always something else. Maybe i am mistaken somewhere. Feel free to discuss.
1) Ease way to move money. Even high corruption level did not help with avoiding high taxes and fees in that field anymore. At list for regular citizens.
2) Way to save money. Instability of Ruble is known, and regular citizen have no even a bit of trust in government regulation of it. 1998 year was harsh, and will not be forgotten for next 30-50 years (next 1 or 2 generations).
2a) Russian citizens cant trust the dollar, for their savings - that paranoia is in our genome. Looks like it good practise (my own paranoia
).2b) We see, that for unknown reason Russian government trust dollar to much, and that makes us more suspicious to our government and dollar both. ( Russian mentality always counts government like somebody who wants to cheat you. And, of course, you should answer with cheating government when possible, but this is another story).
2c) We cant trust in euro, because it is wired to tight with IMF (and they wired to $).
2d) We cant trust in oil prices, because oil prices are instable.
2e) We hardly can use gold, diamonds and precious metals, - they are overtaxed (Prisons here are not so comfortable).
3) Opportunity for FREE (relatively) money. Price of electricity is steel low, relatively to European country's.
4) We just like to try something new (well, you should not be surprised - 1917, 1991 as fresh examples).
5) We are ambitious and lazy together. I am doubt that you will find any Russian immigrant working in some dumb house cleaning business more than 5 years after arriving in new country.
Well, there is always something else. Maybe i am mistaken somewhere. Feel free to discuss.
Dollar is strong in Russia, been that way a few decades, at least. I cannot see how.. if I offer a payment for some thing in dollars or rubles to any Russian, you will prefer rubles over dollar? seriously? ))
Russians are extremely interested:
1) Ease way to move money. Even high corruption level did not help with avoiding high taxes and fees in that field anymore. At list for regular citizens.
2) Way to save money. Instability of Ruble is known, and regular citizen have no even a bit of trust in government regulation of it. 1998 year was harsh, and will not be forgotten for next 30-50 years (next 1 or 2 generations).
2a) Russian citizens cant trust the dollar, for their savings - that paranoia is in our genome. Looks like it good practise (my own paranoia).
2b) We see, that for unknown reason Russian government trust dollar to much, and that makes us more suspicious to our government and dollar both. ( Russian mentality always counts government like somebody who wants to cheat you. And, of course, you should answer with cheating government when possible, but this is another story).
2c) We cant trust in euro, because it is wired to tight with IMF (and they wired to $).
2d) We cant trust in oil prices, because oil prices are instable.
2e) We hardly can use gold, diamonds and precious metals, - they are overtaxed (Prisons here are not so comfortable).
3) Opportunity for FREE (relatively) money. Price of electricity is steel low, relatively to European country's.
4) We just like to try something new (well, you should not be surprised - 1917, 1991 as fresh examples).
5) We are ambitious and lazy together. I am doubt that you will find any Russian immigrant working in some dumb house cleaning business more than 5 years after arriving in new country.
Well, there is always something else. Maybe i am mistaken somewhere. Feel free to discuss.
1) Ease way to move money. Even high corruption level did not help with avoiding high taxes and fees in that field anymore. At list for regular citizens.
2) Way to save money. Instability of Ruble is known, and regular citizen have no even a bit of trust in government regulation of it. 1998 year was harsh, and will not be forgotten for next 30-50 years (next 1 or 2 generations).
2a) Russian citizens cant trust the dollar, for their savings - that paranoia is in our genome. Looks like it good practise (my own paranoia
).2b) We see, that for unknown reason Russian government trust dollar to much, and that makes us more suspicious to our government and dollar both. ( Russian mentality always counts government like somebody who wants to cheat you. And, of course, you should answer with cheating government when possible, but this is another story).
2c) We cant trust in euro, because it is wired to tight with IMF (and they wired to $).
2d) We cant trust in oil prices, because oil prices are instable.
2e) We hardly can use gold, diamonds and precious metals, - they are overtaxed (Prisons here are not so comfortable).
3) Opportunity for FREE (relatively) money. Price of electricity is steel low, relatively to European country's.
4) We just like to try something new (well, you should not be surprised - 1917, 1991 as fresh examples).
5) We are ambitious and lazy together. I am doubt that you will find any Russian immigrant working in some dumb house cleaning business more than 5 years after arriving in new country.
Well, there is always something else. Maybe i am mistaken somewhere. Feel free to discuss.
Thumbs up, Russians
Jump to: