Russia and Bitcoin... No Longer Enemies?
Russia and bitcoin have not exactly been on good terms. The country showed a particularly strict attitude towards the digital currency and was looking to enforce a ban that would threaten any users with heavy fines and other forms of punishment should they engage in the "pleasures of bitcoin." It appears that while on the playground, Russia had primary control over the sandbox. However, now that sandbox is possibly up for grabs. Following the Ruble's massive drop in value, the country seems to be reconsidering its approach to bitcoin and digital currencies, and the ban it was once aiming....
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Bitcoin exhibits properties of money that have existed far longer than the protocol and that helps facilitate its rapid growth.
Someone is playing with the Bitcoin price. In the last couple of days, the Bitcoin price has jumped up and down rigorously from 610 USD to 680 USD per Bitcoin. Four hours ago it dropped with more than 50 USD. There has not been any significant news that could explain the sudden rise or sudden fall of the Bitcoin price. The actions taking place seems to be marked driven with a pure trading goggle. The question is who's pumping and dumping. Everyone? Bitcoin has its enemies. Some of its enemies are the most powerful enemies one can have. A few countries haven't taken a very hostile approach....
Steam, a platform that offers instant access to games globally, is no longer accepting bitcoin in Russia, according to customers in the country. The Steam payment page does not include the option to use bitcoin, according to this screenshot provided by a Russian customer. There was nothing about the change in policy for Russia on the company’s website at the time of this report. Steam’s acceptance of bitcoin in April garnered major attention at the time. Bitcoin Disabled. A Steam user who goes by the name ‘Eliot the Cougar’ contacted CCN on Friday after he was no longer able to buy Steam....
The Russian ban is a significant attack on Bitcoin and the Charlie Shrem arrest is just a side-show. When Russia warned against bitcoin this morning, just after the arrest of Charlie Shrem in New York yesterday, it would be easy to conclude that the Bitcoin war of 2014 had just gone nuclear. But the events are as different as night and day and although it feels like we are under coordinated attack by forces bigger then us, nothing could be further from the truth. The move by the Russian Central bank this morning is a clear attack against the ethical and free currency model defined by....
It is impossible to stop the Bitcoin movement, that much has become evident. Excluding Bitcoin from Russia would do more harm than good in the long run. Russia has always had an unusual relationship with Bitcoin and cryptocurrency. It has been unclear how the situation will evolve for quite some time now. A new statement by the Bank of Russia hints at no further action being taken against the usage of Bitcoin. Another positive sign for Bitcoin on a global scale, although this does not mean cryptocurrency is legal in Russia all of a sudden. People have to keep in mind this statement does....