Post
Topic
Board Speculation
Re: If Russia goes full Bitcoin adoption
by
South Park
on 08/03/2022, 22:03:00 UTC
Hi Guys,

i would like to discuss a thought.

Russia is experiencing heavy sanctions by EU and US, especially the SWIFT Ban from the EU is a hard one.
So what would happen if Russia went full adoption on BTC as this would be an unregulated alternative.

In my opinion, this could throw BTC in a black hole, as US and Europe would be forced to ban or regulate it to death. (Quickly)

What is your opinion on this topic, lets discuss Smiley

Kind regards
AD
It is difficult to know what will exactly happen, after all as far as I remember the only country that has declared bitcoin as a legal tender is El Salvador, a country as big as Russia and with such a large population will bring a new set of challenges to bitcoin that it has never faced before, so I doubt that it will help Russia that much to do a movement like that at this moment, however if the sanctions keep mounting then the Russian government may be forced to take a decision like this and hope for the best, even if they know the potential positive effects they could expect would be on the low side.