Quote from: lepbagong on May 07, 2022, 08:48:11 PM

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Quote from: dataispower on March 16, 2022, 08:47:56 PM

If Russian president Putin accept Bitcoin as a legal tender, i think it is because of the problem between Russia and Ukraine, because before now i over heard that Russian country ban Bitcoin before now, maybe from what I'm seeing the country have notice that Bitcoin is one of the options that will liberate them from this economic crisis's that is in line to affect both parties that is in battle line between Russia and Ukraine

true, because bitcoin will not only bring Russia out of the economic crisis but the main role is that it will not make anyone in the world who will be able to embargo them. because it is currently seen in many countries that have started freezing the assets of Russian citizens, both for individuals and even for companies that have assets in the country that carried out the freezing. Of course this will make the Russian economy disrupted because the Russian currency will be difficult to accept, by providing an opportunity to receive bitcoin, there is a solution that can be done from the embargo that has been carried out.

The sudden approval of bitcoin before the war started, I think they only see bitcoin as one of the temporary solutions when sanctions are imposed. Bitcoin is very difficult to help Russia out of the economic crisis, it is impossible. Bitcoin will be better for individuals than Russian government.
Assuming the Russian government accepts bitcoin as legal tender to evade sanctions, the US and Europe will impose bans on the crypto. We need to see clearly that the US is looking for ways to kill the Russian economy so they won't give up any way.
A China bans bitcoin, it probably won't affect bitcoin much, but the US and all its allies ban bitcoin, I think that's a big problem with crypto.

It is difficult to pronounce when there are arguments that are very good, and obviously the natural thing is that yes, it is that BTC is a way out for the Russian government and for anyone in Russia it is, because by removing the swift and any other way of being able the Russians receive money, how could it be done? or in what way? if it is blocked everywhere, only the local internal russian banking system is the one that is not blocked but with more restrictions, the only way is to create a mini-economization where everything is bought and sold through btc, and I think those options Putin must have already taken them.

so there is no best way for the Russian leader "Putin" to immediately exercise the option to accept bitcoin as a means of payment and transactions for them. because the embargo will continue to be carried out and the way out to avoid the country's economic difficulties is to be willing to do and accept bitcoin as a legal tender, to reduce the ongoing sanctions for the country.
I agree with the colleagues above, that bitcoin is a way out for any country in resolving the embargo sanctions that may be experienced.

I firmly believe that with the embargo on Russia, it is certain that there will also be big countries that will help for political reasons which have been their enemies. China is a country that will probably help Russia to avoid experiencing the hardships of the embargo. If this will happen, it will likely be due to long term political interests.
But right now it is important for Russia to accept and recognize bitcoin as a legal tender.

Yes, if Russia agrees to have BTC as legal tender, where would the Ruble be? It would be a double-edged sword for Putin, because everyone would buy pure crypto, and the currency would simply lose more and more liquidity, because you can't compare a government-backed currency to BTC and everything that has to do with crypto. In addition to the fact that the inflationary economy will always be below the economy that manages BTC, any deflationary economy will have more influence and much more guarantee than the traditional economy, it is no secret to anyone that the high hands in Russia manage BTC.