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InvisibleOgla
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Registered: 02/16/04
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Russia to legalize Bitcoins * 1
    #21799605 - 06/12/15 09:11 PM (8 years, 7 months ago)

2015-06-11



In a possibly dramatic change of attitude towards cryptocurrency, the Russian Central Bank may soon allow P2P transactions in Bitcoin, as well as other operations with cryptocurrencies, according to Izvestia, one of Russia’s leading news publications.

The Central Bank has historically been more open to Bitcoin than Russia’s Ministry of Finance. Next week, they will meet with financial market representatives to discuss how to approach cryptocurrency as a whole in Russia.

According to a source close to the Central Bank, it is “very likely” that the regulator may in fact be a proponent of cryptocurrency as “the attitude of the Central Bank towards Bitcoin has shifted in the past year.”

The insider also believes that the Central Bank could legalize and regulate some operations involving Bitcoin, particularly peer-to-peer transactions and settlement payments between individuals.

In January, the Federal Supervision Agency for Information Technologies and Communications (“Roskomnadzor” in Russian) blocked access to at least five Bitcoin-related websites, in accordance with the ruling of the Neviyansky Municipal Court.

Meanwhile, the affected websites, such as BTCsec.com and bitcoinconf.ru, which contained information whose dissemination is considered illegal in the country, filed an appeal vowing to fight the ruling.

The Russian Bitcoin community achieved a victory in May, when a court in Yekaterinburg overturned the previous ruling. However, on May 27, Roskomnadzor again blocked access to BitNovosti.com, one of Russia’s most popular Bitcoin news resources, while the other affected websites remained blocked. BitNovosti wrote on its page on the Russian social networking site VKontakte:

    “The proposed law to ban information on cryptocurrency is expected to pass in the Duma soon, thus the blocking of ALL Bitcoin-resources is only a matter of time.”

The prediction may now prove to be incorrect, in light of the latest positive and unexpected turn of events. Next week, all eyes will be on the Bank of Russia, as the country’s Bitcoin community may finally receive a clear ruling and a green light from the Russian government.

http://cointelegraph.com/news/114537/russia-expected-to-legalize-bitcoin-p2p-transactions


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OfflineDetached
You know where...


Registered: 02/27/15
Posts: 2,942
Last seen: 10 months, 15 days
Re: Russia to legalize Bitcoins [Re: Ogla]
    #21800492 - 06/13/15 01:57 AM (8 years, 7 months ago)

So... bitcoins were always viewed as 'illegal' but now they are considering recognizing them as a valid currency? They seem particularly concerned about p2p transactions... what government isn't :confused:


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Offlinesauroman1
Emrys

Registered: 03/22/14
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Loc: Shangrila
Last seen: 1 month, 9 days
Re: Russia to legalize Bitcoins [Re: Ogla]
    #21800512 - 06/13/15 02:11 AM (8 years, 7 months ago)

Find it strange that autoritarian Russia could make such step.


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"You come from realms of unimaginable power and light, and you will return to those realms.” ― Terence McKenna


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OfflineMrBlueYoMind
Don't do drugs (Without me)

Registered: 04/27/11
Posts: 3,753
Last seen: 1 month, 25 days
Re: Russia to legalize Bitcoins [Re: sauroman1]
    #21806122 - 06/14/15 12:20 PM (8 years, 7 months ago)

I bet a majority of coins are washed/processed through Russia.  It's a strategy to make more money/power/control a currency.  Just because BTC is decentralized doesn't mean that it can't be manipulated.  The more coins one has, the more leverage.  If one were to buy up as many coins as they could and then hoard them until the value of the coins go up, they would then be in control of the sell price.  A network of individuals cooperating in this manner makes it easy, and they would all get rich and people would do what they do.  It would just make it difficult for people to get coins for a little bit, but that is exactly how the value goes up. 

Obviously they would make their way back into circulation, but at the rate you want to keep the value up.  If you unload them as quick as possible the value would crash quickly and might bottom out.  If you unload them at a steady rate the value would gradually decrease. 

Obviously the coins drop a great deal every time a market turns scam.  The thieves unload them as quick as possible for low costs, and suddenly there is a surplus of btc vendors trying to make money, who in the long run probably lose a few dollars due to the markets saturation. 

If a group of (very rich) people worked together, they could wrangle the beast of btc and keep a set amount of coins in circulation at all times, driving the value up.  This could be Russia's angle.  Once most of the coins are in one country's possession, people from all over the world looking to buy that coin will give money to that country.  :shrug:


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Confucius say: He who sticks drugs in butthole has head up ass. 
EVOLUTION REQUIRES REPRODUCTION


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OfflineAlan RockefellerM
Mycologist
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Registered: 03/10/07
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Re: Russia to legalize Bitcoins (moved) [Re: Ogla]
    #21806457 - 06/14/15 01:04 PM (8 years, 7 months ago)

This thread was moved from Shroomery News Service.

Reason:
Not mushroom or drug related.



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Offlinesaenchai
Stranger
Registered: 10/05/14
Posts: 238
Last seen: 7 years, 1 month
Re: Russia to legalize Bitcoins (moved) [Re: Alan Rockefeller]
    #21809399 - 06/15/15 06:16 AM (8 years, 7 months ago)

Russia knows what's up. They're ready to start doing the positive evolution of humankind thing instead of the control thing because they understand that the only alternative is self destruction


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Offlinemakaveli8x8
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Re: Russia to legalize Bitcoins (moved) [Re: saenchai]
    #21809412 - 06/15/15 06:25 AM (8 years, 7 months ago)

russia knows bitcoins challenge the status quo, they view it as a tool to use against america


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We were sent to hell for eternity :hellfire: Ø:omgawesome:h®
We play on earth to pass the time :foreheadslap:

Over-population the root of all Evil-brings the Elites Closer to the gates.


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