infoman



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NewbieActivity: 42Merit: 0 Bitcoin Banned in Russia February 07, 2014, 03:52:37 AM #1



http://noarmycanstopanidea.com/bitcoin-banned-in-russia/



if yes please mod delete the thread.



wondering how this is behind the current price drop or mtGox?



not sure if it has been posted before:if yes please mod delete the thread.wondering how this is behind the current price drop or mtGox?

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LegendaryActivity: 2884Merit: 1751 Re: Bitcoin Banned in Russia February 07, 2014, 04:34:54 AM #3 Quote from: infoman on February 07, 2014, 03:52:37 AM



http://noarmycanstopanidea.com/bitcoin-banned-in-russia/



if yes please mod delete the thread.



wondering how this is behind the current price drop or mtGox?





not sure if it has been posted before:if yes please mod delete the thread.wondering how this is behind the current price drop or mtGox?

stop spreading fud that has lost its true meaning due to unintelliagent people reading the original source wrongly and then spreading the information in chinese whispers to make the facts less and less true with each passing.



the truth is that russia warn that bitcoin COULD be used for money laundering, and as such. people trading anonymously with each other COULD be trading with illegal counterparties, as such it COULD lead some people into being linked to a crime.



its a warning, not a ban.



please try looking for the information source and research before posting these FUD articles.



stop spreading fud that has lost its true meaning due to unintelliagent people reading the original source wrongly and then spreading the information in chinese whispers to make the facts less and less true with each passing.the truth is that russia warn that bitcoin COULD be used for money laundering, and as such. people trading anonymously with each other COULD be trading with illegal counterparties, as such it COULD lead some people into being linked to a crime.its a warning, not a ban.please try looking for the information source and research before posting these FUD articles. I DO NOT TRADE OR ACT AS ESCROW ON THIS FORUM EVER.

Please do your own research & respect what is written here as both opinion & information gleaned from experience. many people replying with insults but no on-topic content substance, automatically are 'facepalmed' and yawned at

cryptog1



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MemberActivity: 117Merit: 10 Re: Bitcoin Banned in Russia February 07, 2014, 05:31:51 AM #4 Quote from: franky1 on February 07, 2014, 04:34:54 AM Quote from: infoman on February 07, 2014, 03:52:37 AM



http://noarmycanstopanidea.com/bitcoin-banned-in-russia/



if yes please mod delete the thread.



wondering how this is behind the current price drop or mtGox?





not sure if it has been posted before:if yes please mod delete the thread.wondering how this is behind the current price drop or mtGox?

stop spreading fud that has lost its true meaning due to unintelliagent people reading the original source wrongly and then spreading the information in chinese whispers to make the facts less and less true with each passing.



the truth is that russia warn that bitcoin COULD be used for money laundering, and as such. people trading anonymously with each other COULD be trading with illegal counterparties, as such it COULD lead some people into being linked to a crime.



its a warning, not a ban.



please try looking for the information source and research before posting these FUD articles.





stop spreading fud that has lost its true meaning due to unintelliagent people reading the original source wrongly and then spreading the information in chinese whispers to make the facts less and less true with each passing.the truth is that russia warn that bitcoin COULD be used for money laundering, and as such. people trading anonymously with each other COULD be trading with illegal counterparties, as such it COULD lead some people into being linked to a crime.its a warning, not a ban.please try looking for the information source and research before posting these FUD articles.

So this statement - meaning that cryptocurrencies  the most popular of which is bitcoin  cannot be used by Russian citizens or corporations.- is not accurate information or disinformation? So this statement - meaning that cryptocurrencies  the most popular of which is bitcoin  cannot be used by Russian citizens or corporations.- is not accurate information or disinformation?

franky1



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LegendaryActivity: 2884Merit: 1751 Re: Bitcoin Banned in Russia February 07, 2014, 06:18:39 AM

Last edit: February 07, 2014, 06:35:47 AM by franky1 #5



article 27 means ruble is the official currency of central banks (FIAT/legal tender), bitcoin wont replace it.



bitcoin does not want to be a replacement of FIAT/legal tender, it wants to work along side legal tender. just like russia allows euro's to be exchanged, airmiles, travelers cheques, even facebook credits..



the statement

Quote In accordance with Art. 27 of the Federal Law " On the Central Bank of the Russian Federation", "the official currency (currency) of the Russian Federation is the ruble. Introduction on the territory of Russia and other monetary units issue money substitutes is prohibited. " Certain distribution received anonymous payment systems and kriptovalyuty, including the most famous of them - Bitcoin are money substitutes and can not be used by individuals and legal entities.

the statement in red is the official and legal stance of russia.. EG ruble wont be substituted by bitcoin.



the statement in green is someone elses hypothesis to the meaning of the law. but infact is not law itself. it is just a statement.



the meeting was not a law making activity, it was a discussion between bankers, Russian FSB and the Russian Interior Ministry to discuss the status of bitcoin. no law has changed regarding bitcoin as of yet. but these meetings are discussion meetings which may lead to law changes in the future.



again bitcoin is not replacing the ruble, much like air miles, facebook credits, zynga coins are not replacing the ruble. as such bitcoin is not illegal.



all this meeting proves is that bitcoin seems negatively received by the russian authorities and law changes may happen. but this meeting has not changed a thing! infact the chapter 6 article 27 has not changed since 2002..



enjoy your research



cryptog1, seems you have atleast glanced beyond the media and found the meeting notes, which is good to see.article 27 means ruble is the official currency of central banks (FIAT/legal tender), bitcoin wont replace it.bitcoin does not want to be a replacement of FIAT/legal tender, it wants to work along side legal tender. just like russia allows euro's to be exchanged, airmiles, travelers cheques, even facebook credits..the statementthe statement in red is the official and legal stance of russia.. EG ruble wont be substituted by bitcoin.the statement in green is someone elses hypothesis to the meaning of the law. but infact is not law itself. it is just a statement.the meeting was not a law making activity, it was a discussion between bankers, Russian FSB and the Russian Interior Ministry to discuss the status of bitcoin. no law has changed regarding bitcoin as of yet. but these meetings are discussion meetings which may lead to law changes in the future.again bitcoin is not replacing the ruble, much like air miles, facebook credits, zynga coins are not replacing the ruble. as such bitcoin is not illegal.all this meeting proves is that bitcoin seems negatively received by the russian authorities and law changes may happen. but this meeting has not changed a thing! infact the chapter 6 article 27 has not changed since 2002..enjoy your research I DO NOT TRADE OR ACT AS ESCROW ON THIS FORUM EVER.

Please do your own research & respect what is written here as both opinion & information gleaned from experience. many people replying with insults but no on-topic content substance, automatically are 'facepalmed' and yawned at

cryptog1



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MemberActivity: 117Merit: 10 Re: Bitcoin Banned in Russia February 07, 2014, 07:07:05 AM #6 Quote from: franky1 on February 07, 2014, 06:18:39 AM



article 27 means ruble is the official currency of central banks (FIAT/legal tender), bitcoin wont replace it.



bitcoin does not want to be a replacement of FIAT/legal tender, it wants to work along side legal tender. just like russia allows euro's to be exchanged, airmiles, travelers cheques, even facebook credits..



the statement

Quote In accordance with Art. 27 of the Federal Law " On the Central Bank of the Russian Federation", "the official currency (currency) of the Russian Federation is the ruble. Introduction on the territory of Russia and other monetary units issue money substitutes is prohibited. " Certain distribution received anonymous payment systems and kriptovalyuty, including the most famous of them - Bitcoin are money substitutes and can not be used by individuals and legal entities.

the statement in red is the official and legal stance of russia.. EG ruble wont be substituted by bitcoin.



the statement in green is someone elses hypothesis to the meaning of the law. but infact is not law itself. it is just a statement.



the meeting was not a law making activity, it was a discussion between bankers, Russian FSB and the Russian Interior Ministry to discuss the status of bitcoin. no law has changed regarding bitcoin as of yet. but these meetings are discussion meetings which may lead to law changes in the future.



again bitcoin is not replacing the ruble, much like air miles, facebook credits, zynga coins are not replacing the ruble. as such bitcoin is not illegal.



all this meeting proves is that bitcoin seems negatively received by the russian authorities and law changes may happen. but this meeting has not changed a thing! infact the chapter 6 article 27 has not changed since 2002..



enjoy your research





cryptog1, seems you have atleast glanced beyond the media and found the meeting notes, which is good to see.article 27 means ruble is the official currency of central banks (FIAT/legal tender), bitcoin wont replace it.bitcoin does not want to be a replacement of FIAT/legal tender, it wants to work along side legal tender. just like russia allows euro's to be exchanged, airmiles, travelers cheques, even facebook credits..the statementthe statement in red is the official and legal stance of russia.. EG ruble wont be substituted by bitcoin.the statement in green is someone elses hypothesis to the meaning of the law. but infact is not law itself. it is just a statement.the meeting was not a law making activity, it was a discussion between bankers, Russian FSB and the Russian Interior Ministry to discuss the status of bitcoin. no law has changed regarding bitcoin as of yet. but these meetings are discussion meetings which may lead to law changes in the future.again bitcoin is not replacing the ruble, much like air miles, facebook credits, zynga coins are not replacing the ruble. as such bitcoin is not illegal.all this meeting proves is that bitcoin seems negatively received by the russian authorities and law changes may happen. but this meeting has not changed a thing! infact the chapter 6 article 27 has not changed since 2002..enjoy your research

I think you are totally right.

This is a proof of the manipulative power of media, even RT.

Here (

But there is no reference to any official statement from the Central Bank of Russia

The last official statement is:

When you get the translation, it just says that the Bank of Russia is warning the citizens of Russia about the risk involved in cryptos.

Nothing new.

Indeed, as long as Bitcoin (or any crypto) is not replacing the Rubble, there should not be any problem and such a replacement won't happen within the next years.

My guess is that Russia will enact new laws about cryptos but i don t see Russian ban cryptos, especially when Russia is fed up with a growing US debt they must support by buying US bonds.

They want gold, bitcoin, reliable cryptos....much better than a petrodollar fueled by fake terrorism.

I think you are totally right.This is a proof of the manipulative power of media, even RT.Here ( http://rt.com/business/bitcoin-russia-use-ban-942/ ) (today's article), RT (this is in fact a Reuters news) states that Russia has banned Bitcoin.But there is no reference to any official statement from the Central Bank of RussiaThe last official statement is: http://cbr.ru/press/PR.aspx?file=27012014_1825052.htm When you get the translation, it just says that the Bank of Russia is warning the citizens of Russia about the risk involved in cryptos.Nothing new.Indeed, as long as Bitcoin (or any crypto) is not replacing the Rubble, there should not be any problem and such a replacement won't happen within the next years.My guess is that Russia will enact new laws about cryptos but i don t see Russian ban cryptos, especially when Russia is fed up with a growing US debt they must support by buying US bonds.They want gold, bitcoin, reliable cryptos....much better than a petrodollar fueled by fake terrorism.

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Sr. MemberActivity: 469Merit: 250 Re: Bitcoin Banned in Russia February 07, 2014, 07:30:44 AM #8 Quote from: cryptog1 on February 07, 2014, 07:07:05 AM Quote from: franky1 on February 07, 2014, 06:18:39 AM

Quote In accordance with Art. 27 of the Federal Law " On the Central Bank of the Russian Federation", "the official currency (currency) of the Russian Federation is the ruble. Introduction on the territory of Russia and other monetary units issue money substitutes is prohibited. " Certain distribution received anonymous payment systems and kriptovalyuty, including the most famous of them - Bitcoin are money substitutes and can not be used by individuals and legal entities.

the statement in red is the official and legal stance of russia.. EG ruble wont be substituted by bitcoin.

the statement in red is the official and legal stance of russia.. EG ruble wont be substituted by bitcoin.

Something I've been curious about since I read this earlier. Wrt the statement in red - how is it possible then to have oбмeн вaлютa or whatever it's called (excuse my Russian) on every street corner swapping rubles for dollars or euros? Something I've been curious about since I read this earlier. Wrt the statement in red - how is it possible then to have oбмeн вaлютa or whatever it's called (excuse my Russian) on every street corner swapping rubles for dollars or euros? PGP fingerprint 2B6FC204D9BF332D062B 461A141001A1AF77F20B (use email to contact)

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RUM AND CARROTS: A PIRATE LIFE FOR ME







LegendaryActivity: 1176Merit: 1001RUM AND CARROTS: A PIRATE LIFE FOR ME Re: Bitcoin Banned in Russia February 07, 2014, 07:41:30 AM #9 I think a bigger question is if any laws in russia can be enforced at all. :-/ more or less retired.

infoman



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NewbieActivity: 42Merit: 0 Re: Bitcoin Banned in Russia February 07, 2014, 07:57:34 AM #10 sorry guys if it was a fud info, but as it come up shortly after the russian bank warning, obviously made sense to believe its truthfulness



mind you, I have no in debt knowledge of the russian politics and cant speak russian either so it is really difficult to do a research, just stumbled upon this article doing some bitcoin news research.



all in all, its probably the apple news what drives the prices down



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MemberActivity: 90Merit: 10 Re: Bitcoin Banned in Russia February 07, 2014, 08:53:09 AM #15



The next events I will see the crisis of FOREX rate and more currency swap deals. But currency swap deals is too expensive as compared to BTC network.



http://www.coindesk.com/russias-largest-bank-backs-bitcoin/



So watching closely for political fight on who control the money now in Russia. These countries are enjoying the growth from creating wealth through increasing FIAT numbers by creating more debt based future credits.The next events I will see the crisis of FOREX rate and more currency swap deals. But currency swap deals is too expensive as compared to BTC network.So watching closely for political fight on who control the money now in Russia.

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NewbieActivity: 18Merit: 0 Re: Bitcoin Banned in Russia February 07, 2014, 04:12:22 PM #16 If Bitcoin is really banned in Russia how come such a large Russian company as WebMoney (webmoney.ru) is still using bitcoins? They still allow deposits to and withdrawals from WMX (mBTC) with no change at all in the recent weeks.

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LegendaryActivity: 2492Merit: 1206 Re: Bitcoin Banned in Russia February 07, 2014, 06:55:20 PM #17







Bitcoin isn't banned until PGP and GnuPG are banned as well.

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NewbieActivity: 24Merit: 0 Re: Bitcoin Banned in Russia February 07, 2014, 06:59:51 PM #18 I would say its very sad.



I had a discussion over bitcoin be backed by something like gold just like XNF-NoFiatCoin.



Having no backing and no one there to look about bitcoin makes it very attractive to money launders and drug traffickers.



There will always be doubts over bitcoin future. I think in today's time anything is possible so why not to back it by something which will give it more credibility and general acceptance.