Russia want completely ban Bitcoin and other cryptocurrencies

[Fernando Paladini]

But when they say "criminal penalty for mining and other operation", what
they mean? I say, how can Russia know who are using Bitcoin, how can Russia
know who are trading or mining Bitcoin?

I think this image can describe the idea I want pass:
http://news.insidebitcoins.com/sites/default/files/government-banning-bitcoin.jpg
Am I wrong about that?

I miss the Soviet Union, at least they respected the personal and social
freedom (but, yes, I know Stalin was a lunatic).


2014-08-01 20:29 GMT-03:00 Troy Benjegerdes <hozer at hozed.org>:

> On Fri, Aug 01, 2014 at 08:10:55PM +0000, Anton Nesterov wrote:
> > Ministry of Finance of Russia drafted a bill to ban cryptocurrencies
> > with administrative or criminal penalty for mining and other operation.
> > Also they want to censor bitcoin-related websites.
> >
> > This will come into force in 2015.
> >
> > http://top.rbc.ru/economics/01/08/2014/940521.shtml (in Russian)
>
> I don't know anything about russian politics, but US politicians draft
> idiotic rules/legislation all the time that get dramatically changed.
>
> (exhibit a:
>
> http://blogs.wsj.com/moneybeat/2014/07/17/ny-financial-regulator-releases-draft-of-bitlicense-for-bitcoin-businesses/
> )
>
> If Russia wishes to exclude themselves from the world economy, that is
> their
> choice, but I suspect their oligarchs will still want to hide money in New
> York
>
> http://nymag.com/news/features/foreigners-hiding-money-new-york-real-estate-2014-6/
> and they'll have to get a Bitlicense to properly launder the transaction.
>
> My prediction is that Bitlicense will evolve into being the much vaunted
> 'anonymous digital cash', and you'll just need to pay the proper
> protection fee
> to the state of New York or they will get a bank to hold your funds for
> ransom
> like they are doing to Argentina's on-time debt payments.
>
> I also fully expect other states and nations will get into the licensed
> cryptocoin
> protection racket in ways that reflect their local culture and values.
>
> Don't mess with flyover land if you want to get insurance.
>
> http://www.desmoinesregister.com/story/tech/2014/05/16/des-moines-area-insurers-create-startups-haven-technology-iowa-innovation/9160921/
>



-- 
Fernando Paladini
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