Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Bitcoin Forum => Topic started by: TomPluz on March 25, 2022, 07:48:52 AM
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We know the many economic sanctions imposed against Russia as it is invading Ukraine and for sure the economy of Russia is now rocked to the bottom with people experiencing the many pinches (though ordinary people do not have the means to air their grievances as the government is in total control of everything). As was then expected, there is that big possibility that Russia can be adopting Bitcoin as the medium of payment for its vast reserve of oil for the international market and then we heard of the news (https://www.cnbc.com/2022/03/24/russia-might-take-bitcoin-as-payment-for-oil-and-gas-as-sanctions-rise.html) that this is what the country has been planning.
Now, of course, we know that Bitcoin is agnostic and apolitical meaning it does not care who is buying, selling, owning, holding, trading and using it and for sure this is open to anyone whether you can be a Russian or a Ukrainian, for that matter. Now, am just concerned if there will not be possible repercussions because of this move from Russia for Bitcoin and will it not be a bad image for Bitcoin especially in the eyes of people who are not approving of this war...
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As I said before, I think Russia will accept bitcoin as their payment method, especially for oil and gas.
There are many sanctions for Russian government, becaue of the war.
But We know Russia is the big countries, That will have good decision for their export, especially gas and oil export.
Believe bitcoin will be adopted soon.
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Oil and Gas is always needed by all countries because Oil and Gas is a household and industrial need.
If the industry does not develop and progress, a country will experience economic decline and this is very dangerous.
If Russia needs to pay for this Oil and Gas using Bitcoin then that is definitely very good because it will make the Bitcoin price go up and the market to be green.
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I am still wondering who would pay Russia with Bitcoin for their hydrocarbons, when various countries are refusing to pay them even in roubles.
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Oil and Gas is always needed by all countries because Oil and Gas is a household and industrial need.
If the industry does not develop and progress, a country will experience economic decline and this is very dangerous.
If Russia needs to pay for this Oil and Gas using Bitcoin then that is definitely very good because it will make the Bitcoin price go up and the market to be green.
You're right, If Russian accept bitcoin as their payment for gas and oil, I think bitcoin price will go up and altcoin will follow it.
Nice to hear this news.
Oil and gas, almost all countries will need this, So I think It's good thing for crypto currency market.
Hopefully all countries also accept bitcoin and altcoin for other commodities.
Let's see
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Oil and Gas is always needed by all countries because Oil and Gas is a household and industrial need.
If the industry does not develop and progress, a country will experience economic decline and this is very dangerous.
If Russia needs to pay for this Oil and Gas using Bitcoin then that is definitely very good because it will make the Bitcoin price go up and the market to be green.
You're right, If Russian accept bitcoin as their payment for gas and oil, I think bitcoin price will go up and altcoin will follow it.
Nice to hear this news.
Oil and gas, almost all countries will need this, So I think It's good thing for crypto currency market.
Hopefully all countries also accept bitcoin and altcoin for other commodities.
Let's see
It's just rumour mate, I heard Russian use rubel for their gas and oil payment.
I didn't hear about bitcoin will be.
But from Russia I heard allow bitcoin mining.
It's good for crypto world.
I agree with this consideration about mining, Sure.
For oil and gas payment, I think if it happens, bitcoin price will soar. Let's see.
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Oil, gas and water will always be the main choices for industries in various fields in this world, but Bitcoin is more prioritized for those who have simple and easy trading because Bitcoin is a digital asset that is easy to carry.
Oil, gas and water are also very much needed for human life because cooking oil is used for cooking, gas is used for transportation and water is needed for daily consumption.
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Humanity (especially the governments of the world) has had time to change the use of fossil fuels. We have had a lot of time to look for alternatives and the ability to make them come true. Now the world, especially Europe, is under the tyranny of Putin and his huge oil and gas reserves. I would not be surprised if Putin's government accepted Bitcoin, for those who do not know, Europe pays 700 million Euros to Russia every day for gas and oil, and Putin wants to continue receiving that money, in Euros, Dollars or Bitcoin.
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We know Putin want rubel to be payment method for oil and gas .
It's market strategy from Russian government to keep their currency from EU and US sanctions.
About this war Russian and Ukraine, several NATI member give sanction for Russia.
But It doesn't matter for Russia, Rusia is still the big country.
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No country exists in a vacuum. They may be a big country, but with time those sanctions will hurt them, and seriously.
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We know Putin want rubel to be payment method for oil and gas .
It's market strategy from Russian government to keep their currency from EU and US sanctions.
About this war Russian and Ukraine, several NATI member give sanction for Russia.
But It doesn't matter for Russia, Rusia is still the big country.
It is true that Putin wants countries to pay for gas and oil in Rubles, but that is not contemplated in the signed contracts. In the contracts that Russia has with European countries, it is clearly indicated that the payment will be made in Euros or Dollars. Wanting to change the contract now so that the Ruble does not sink completely is illegal, that's why the Russian government is trying to find alternatives, that's why they proposed to accept Bitcoin.
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We know the many economic sanctions imposed against Russia as it is invading Ukraine and for sure the economy of Russia is now rocked to the bottom with people experiencing the many pinches (though ordinary people do not have the means to air their grievances as the government is in total control of everything). As was then expected, there is that big possibility that Russia can be adopting Bitcoin as the medium of payment for its vast reserve of oil for the international market and then we heard of the news (https://www.cnbc.com/2022/03/24/russia-might-take-bitcoin-as-payment-for-oil-and-gas-as-sanctions-rise.html) that this is what the country has been planning.
Now, of course, we know that Bitcoin is agnostic and apolitical meaning it does not care who is buying, selling, owning, holding, trading and using it and for sure this is open to anyone whether you can be a Russian or a Ukrainian, for that matter. Now, am just concerned if there will not be possible repercussions because of this move from Russia for Bitcoin and will it not be a bad image for Bitcoin especially in the eyes of people who are not approving of this war...
It will create a good images for bitcoin because everyone is not in favor's of the sanction imposed by the USA. Many other country will also use bitcoin who fears sanction threat by USA. Its good financial freedom to countries which has been threaten by USA and their allies. This could struck the final nail in the coffee of USD.
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Purchasing Oil and Gas around the world is just a good opinion and for sure if it's a fact then it must be very good.
And it turns out that this thread leads to conflicts in Russia and Ukraine, so it is certain that Bitcoin will be needed once for the purchase of Oil and Gas.
The problem is, if there are conflicts like that, looting everywhere and a lot of loss of property, then any digital asset like Bitcoin will definitely be needed for this story.
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It will create a good images for bitcoin because everyone is not in favor's of the sanction imposed by the USA. Many other country will also use bitcoin who fears sanction threat by USA. Its good financial freedom to countries which has been threaten by USA and their allies. This could struck the final nail in the coffee of USD.
I think exactly the opposite of what you say. Many people, including some governments, will see Bitcoin as the image of "evil", they will believe that Bitcoin is used by tyrants and that using Bitcoin any country could receive international sanctions without consequences, and that is not good for the image of Bitcoin and cryptocurrencies. People with their own criteria will not do something like this, but unfortunately many others will.
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Purchasing Oil and Gas around the world is just a good opinion and for sure if it's a fact then it must be very good.
And it turns out that this thread leads to conflicts in Russia and Ukraine, so it is certain that Bitcoin will be needed once for the purchase of Oil and Gas.
The problem is, if there are conflicts like that, looting everywhere and a lot of loss of property, then any digital asset like Bitcoin will definitely be needed for this story.
By seeing the rumours and every chance for bitcoin to grow
I think elsavadar, Russia issue will accept bitcoin for gas and oil payment. Those are a good thing to improve bitcoin at the coming months.
India has legalized bitcoin and lately US also did too, they take the tax for bitcoin and crypto.
I think more countries will do that, let's see..
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In my opinion, if bitcoin will accept for gas and oil payment it will big impact for crypto currency market.
Gas and oil are primary needs , that almost all of countries need to use oil and gas.
And we know Russia has been sanctioned by NATO and several countries.
But don't forget, Russia is the big country.
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In my opinion, if bitcoin will accept for gas and oil payment it will big impact for crypto currency market.
Gas and oil are primary needs , that almost all of countries need to use oil and gas.
And we know Russia has been sanctioned by NATO and several countries.
But don't forget, Russia is the big country.
No matter how big or important Russia is, the important thing is that over time it can fall. No country (no matter how rich it is, and this is not the case with Russia) would put up with the sanctions that Russia has received for the last five weeks, no economy can last this long with so many cuts. If Putin does not want Russia to end up completely bankrupt and its citizens going through problems, what he should do is order the abandonment of all his troops from the Ukrainian territory, it is the only option to save the economy.
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I think Putin has considered the worst risk that his country will bear if it gets prolonged sanctions.
About this war, Russia has calculated the good and the bad. Peace is above all and does not mean self-respect is something cheap to forget.
This war in my opinion is the mere existence of Putin and Russia.
But better The path of peace should be taken...
because war is not the best way...
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Russia Now they do not pay for gas and oil with bitcoin. Because I heard that Russia Bank has now banned the use of cryptocurrency. Now it can be said that since Russia Bank will use cryptocurrency, they will make all kinds of payments through Bitcoin.
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Russia is one of the biggest threats to the world today because Russia has only increased the price of oil and gas so the price of everything around the world has risen sharply. Looking back at the past Granted, prices were much lower, which is one of the main reasons for the rise in prices during the Ukraine-Russia war.
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Maybe it's not just Russia, if it's already in a crisis, any assets will be used to support the country's economy.
Bitcoin is a digital asset and Oil + Gas was needed during the crisis that Russia finally used Bitcoin as a legal medium of exchange for Oil and Gas.
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Maybe it's not just Russia, if it's already in a crisis, any assets will be used to support the country's economy.
Bitcoin is a digital asset and Oil + Gas was needed during the crisis that Russia finally used Bitcoin as a legal medium of exchange for Oil and Gas.
If that were to happen and Russia will accept Bitcoin (or any other cryptocurrency) for its oil and gas, it would be a big deal for the crypto industry. All the countries that have imposed sanctions on Russia would attack cryptocurrencies as a flag that allows them to avoid said sanctions and the way to continue financing the invasion of Ukraine. Using cryptocurrencies to help people who are suffering from war seems perfect to me, using cryptocurrencies to finance a war is not good for anyone in this industry.
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From what I understand though, the Bank of Russia is still not fond of cryptocurrencies despite everything that is happening, so I don't know how that will go.
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From what I understand though, the Bank of Russia is still not fond of cryptocurrencies despite everything that is happening, so I don't know how that will go.
What the Russian central bank has on the table at the moment are various proposals on cryptocurrencies. One such proposal is the one we're talking about here, the ability to accept Bitcoin as a payment method for oil and gas. Another proposal is to allow Russian banks to work with cryptocurrencies and offer different services to citizens. But at the moment both things are that, only proposals, if any of them were accepted, I think it would take time to legally implement them.
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With the acceptance of Bitcoin as a means of payment for the purchase of Oil and Gas in Russia, this is an advantage for Bitcoin and Cryptocurrency. A little or a lot will definitely affect the increase in the price of Bitcoin. But I'm still not optimistic that this will apply in the long term to buying Oil and Gas there, because the price of Bitcoin goes up and down, Russia will consider it again. I am optimistic that the use of Bitcoin for this in Russia at this time is a political matter as well.
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With the acceptance of Bitcoin as a means of payment for the purchase of Oil and Gas in Russia, this is an advantage for Bitcoin and Cryptocurrency. A little or a lot will definitely affect the increase in the price of Bitcoin. But I'm still not optimistic that this will apply in the long term to buying Oil and Gas there, because the price of Bitcoin goes up and down, Russia will consider it again. I am optimistic that the use of Bitcoin for this in Russia at this time is a political matter as well.
We know bitcoin is high volatile, I think It's not a good idea to use bitcoin for Oil and gas payment method.
Maybe it's just rumours.
Because I heard Russia allow rubel for oil and gas payment.
Let's see the update news. Maybe I'm wrong.
If bitcoin is used for payment methods, I think crypto currency market will soar.
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We know bitcoin is high volatile, I think It's not a good idea to use bitcoin for Oil and gas payment method.
Maybe it's just rumours.
Because I heard Russia allow rubel for oil and gas payment.
Let's see the update news. Maybe I'm wrong.
If bitcoin is used for payment methods, I think crypto currency market will soar.
The Russian government wants countries to pay in Rubles so that their national currency does not depreciate to practically 0, but no country is going to pay in Rubles, since that would break the clauses signed in the contracts with different countries. As for what you say about the volatility of Bitcoin, it is totally true, but imagine that Russia accepts Bitcoin and sells it for Dollars or Euros seconds after receiving it, that problem would no longer exist.
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I think It's good thing if Russia will allow bitcoin for oil and gas payment.
Hopefully It's not rumours.
If it happens, I think It will have good effect for crypto price
Because As we know when bitcoin demand is so high, the bitcoin price will pump and altcoin wil follow it.
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I think It's good thing if Russia will allow bitcoin for oil and gas payment.
Hopefully It's not rumours.
If it happens, I think It will have good effect for crypto price
Because As we know when bitcoin demand is so high, the bitcoin price will pump and altcoin wil follow it.
This information is not rumours, they are proposals that have been put on the table to the Russian government as a tool to avoid the sanctions that many countries are executing. The Russian Ruble is undergoing a significant and rapid devaluation, and no country is willing to pay Rubles for oil or gas. Although it would be a difficult tool to implement due to the volatility of cryptocurrencies, and I do not think that the rest of the countries would be willing to pay with Bitcoin, given the speed of the proposals, I think it is more of a desperate measure.
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I think It's good thing if Russia will allow bitcoin for oil and gas payment.
Hopefully It's not rumours.
If it happens, I think It will have good effect for crypto price
Because As we know when bitcoin demand is so high, the bitcoin price will pump and altcoin wil follow it.
It is valid information, not a rumor. Russian government wants their oil and gas payment in Rubel or Bitcoin. They don't want dollars, they challenge USA and other Europe countries. I think it is great news for crypto world, especially for Bitcoin. If it will be implemented soon, the demand for Bitcoin to increase massively. Which means, the price of Bitcoin will increase significantly.
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I think It's good thing if Russia will allow bitcoin for oil and gas payment.
Hopefully It's not rumours.
If it happens, I think It will have good effect for crypto price
Because As we know when bitcoin demand is so high, the bitcoin price will pump and altcoin wil follow it.
It is valid information, not a rumor. Russian government wants their oil and gas payment in Rubel or Bitcoin. They don't want dollars, they challenge USA and other Europe countries. I think it is great news for crypto world, especially for Bitcoin. If it will be implemented soon, the demand for Bitcoin to increase massively. Which means, the price of Bitcoin will increase significantly.
It's good thing if this information about Russia will accept rubel or bitcoin.
Hopefully it will have big effect for crypto market.
I think other countries should allow bitcoin for their payment method, especially export commodity.
Crypto will more valuable and popular, if it happens.
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I think Putin has considered the worst risk that his country will bear if it gets prolonged sanctions.
About this war, Russia has calculated the good and the bad. Peace is above all and does not mean self-respect is something cheap to forget.
This war in my opinion is the mere existence of Putin and Russia.
But better The path of peace should be taken...
because war is not the best way...
Putin, and therefore Russia, will be defeated in the war with Ukraine. Already, Russia is suffering crushing military losses and the Kremlin simply does not know what to do in this situation, since the attack on Ukraine itself was not calculated and planned, and the decision to send troops to Ukraine was based on false data about the weakness of the Armed Forces of Ukraine and that that a significant number of Ukrainians would be happy to join Russia. Therefore, Putin's entourage planned to capture the entire territory of Ukraine in 3-5 days.
During the 53 days of hostilities in Ukraine, Russia has already lost 20,600 people killed, more than 40,000 wounded, 790 tanks, 2041 armored combat vehicles, 167 aircraft, 147 helicopters, 381 artillery systems, 130 multiple launch rocket systems, 66 air defense systems. systems, 1487 various trucks, 155 UAVs, 8 ships and boats and other weapons.
Just yesterday, Russia has lost more in Ukraine than it has lost in 8 years of war in Syria. These are 27 tanks, 39 armored vehicles and so on. A few days ago, two Ukrainian anti-ship missiles "Neptune" sank the flagship of the Russian Black Sea Fleet - the nuclear-powered missile cruiser "Moskva", which was considered invincible in Russia due to the large number of air defense systems and other weapons.
As for bitcoin, it will not save Russia from the current sanctions. After all, not only the currency is traced, but also the movement of all sanctioned goods.
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In my opinion, if bitcoin will accept for gas and oil payment it will big impact for crypto currency market.
Gas and oil are primary needs , that almost all of countries need to use oil and gas.
And we know Russia has been sanctioned by NATO and several countries.
But don't forget, Russia is the big country.
Even if the Putin regime wanted to use bitcoin and other cryptocurrencies to pay for oil and gas in order to circumvent sanctions, it would still fail.
Firstly, large volumes of cryptocurrencies are still tracked and can be further blocked by states through exchanges.
Secondly, the movement of oil and gas will also not go unnoticed by the world community and the authorities controlling the sanctions. This is especially true as Europe has almost agreed on the sixth package of sanctions against Russia, which will also provide for a complete embargo on oil and gas from Russia. Putin wanted to stop the supply of oil and gas to Europe, he will receive it, only from Europe itself. We'll see how he manages to sell his oil and gas after that.
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If Russia and other countries use Bitcoin for the payment of Gas and Oil, we can see a great improvement in Bitcoin price. The demand for Bitcoin will increase as people want to buy Gas and Oil with Bitcoin. But I hope this policy isn't the same as the policy on Tesla when they accepted BTC payment for their products. It didn't last even a month.
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If Russia and other countries use Bitcoin for the payment of Gas and Oil, we can see a great improvement in Bitcoin price. The demand for Bitcoin will increase as people want to buy Gas and Oil with Bitcoin. But I hope this policy isn't the same as the policy on Tesla when they accepted BTC payment for their products. It didn't last even a month.
If the Russian government finally approved this proposal (which I highly doubt) and accepted Bitcoin as a means of payment for its Oil and Gas, the Russian government would automatically have other problems. They should quickly fight volatility and sell those Bitcoins almost instantly. The Russian government receives 700 million Euros daily from the European Union (about 17,000 Bitcoins at current value), and would have serious bureaucratic problems to be able to sell that daily amount. For these reasons I believe that these proposals will never be approved.
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If Russia and other countries use Bitcoin for the payment of Gas and Oil, we can see a great improvement in Bitcoin price. The demand for Bitcoin will increase as people want to buy Gas and Oil with Bitcoin. But I hope this policy isn't the same as the policy on Tesla when they accepted BTC payment for their products. It didn't last even a month.
If the Russian government finally approved this proposal (which I highly doubt) and accepted Bitcoin as a means of payment for its Oil and Gas, the Russian government would automatically have other problems. They should quickly fight volatility and sell those Bitcoins almost instantly. The Russian government receives 700 million Euros daily from the European Union (about 17,000 Bitcoins at current value), and would have serious bureaucratic problems to be able to sell that daily amount. For these reasons I believe that these proposals will never be approved.
Yeah, the volatility of bitcoin is the big problem for Russia if the proposal accepted.
Bitcoin will be payment of gas and oil.
I think It will have good effect for crypto currency and I believe If it happens at this year crypto price will soar.
I personally agree with this.
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The countries of the European Union have already agreed and prepared for adoption the sixth package of sanctions against Russia for the ongoing military aggression in Ukraine and the genocide of the Ukrainian people. Central to these sanctions will be a complete embargo on Russian oil and gas. This will be a crushing blow to the Russian economy. Bitcoin will not help the Putin regime in this case. The movement of Russian oil and gas will be monitored.
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The countries of the European Union have already agreed and prepared for adoption the sixth package of sanctions against Russia for the ongoing military aggression in Ukraine and the genocide of the Ukrainian people. Central to these sanctions will be a complete embargo on Russian oil and gas. This will be a crushing blow to the Russian economy. Bitcoin will not help the Putin regime in this case. The movement of Russian oil and gas will be monitored.
The problem is that not all the countries of the European Union agree with these sanctions. Some countries are less dependent on Russian Gas and Oil and have the economic capacity to seek supply alternatives, but other countries do not have the same economic capacity and that will create a problem within the countries of the European Union when it comes to executing the new sanctions. Countries with a lower economy and little infrastructure will have to continue buying from Russia.
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The countries of the European Union have already agreed and prepared for adoption the sixth package of sanctions against Russia for the ongoing military aggression in Ukraine and the genocide of the Ukrainian people. Central to these sanctions will be a complete embargo on Russian oil and gas. This will be a crushing blow to the Russian economy. Bitcoin will not help the Putin regime in this case. The movement of Russian oil and gas will be monitored.
The problem is that not all the countries of the European Union agree with these sanctions. Some countries are less dependent on Russian Gas and Oil and have the economic capacity to seek supply alternatives, but other countries do not have the same economic capacity and that will create a problem within the countries of the European Union when it comes to executing the new sanctions. Countries with a lower economy and little infrastructure will have to continue buying from Russia.
Yes, the countries of the European Union are not all absolutely one-pack and have a different dependence on carbohydrate energy sources from Russia. But overall, it doesn't make much of a difference. For example, Germany was the most dependent on Russia in this regard; it supplied about 40 percent of its oil from Russia. But now they are saying that they will be completely free of such dependence by the end of this year. The European Union is not imposing these sanctions right now because they are waiting for Sunday for the French presidential elections to take place in the second round and for Macron to win. But they will launch sanctions as early as next week. It won't be long, we'll see.
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There is news that some European Union countries are not yet ready to impose a complete embargo on oil and gas supplies from Russia. But anyway, everyone agrees that it is necessary to get rid of dependence on Russia in energy carriers and reorient to other suppliers, as well as increase the share of energy consumption from alternative sources. Therefore, in the near future, Russia will play very big by committing military aggression against Ukraine.
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The problem that Europe now has with natural resources is the exclusive responsibility of European governments. For a long time, the countries of the European Union have paid $800,000,000 to Russia every day. If that amount of money had been used in part for years for research and development of other types of energy, all of this would not be happening now, but instead of seeking a certain energy independence, the European Union preferred to settle down and do nothing, surely many now regret it.
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There is news that some European Union countries are not yet ready to impose a complete embargo on oil and gas supplies from Russia. But anyway, everyone agrees that it is necessary to get rid of dependence on Russia in energy carriers and reorient to other suppliers, as well as increase the share of energy consumption from alternative sources. Therefore, in the near future, Russia will play very big by committing military aggression against Ukraine.
It is clear that the dependence of some European countries on oil and gas from Russia cannot be eliminated immediately, they are not ready for it. because after all looking for alternatives is certainly not easy and cannot be instant. If on the other hand Russia did not supply European countries first, then it is certain that countries with no supply other than Russia will suffer and they will not harm themselves, where if the embargo is done.
Russia's aggression against Ukraine clearly should not happen and is not justified because this is a bad precedent, but maybe there is a purpose that we don't know about the aggression. European countries should not always carry out an embargo but must be a mediator and can sit together to be able to make peace is the best choice .
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We all know about bitcoin price is high volatile.
So, I think It's difficult to happen, bitcoin as payment method for oil and gas.
I don't believe it will be.
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The main purpose of Bitcoin is for a payment system without any intermediaries from banks and we usually call it P2P.
If a country like Russia accepts Bitcoin as payment, then that's a good thing.
Apart from the current war conflict, I support the option of paying for gas and oil using BTC, this will be a payment option, this is definitely profitable because the main purpose of Bitcoin for payments can be achieved by the state.
Oil and Gas is urgently needed by every country and most importantly, to avoid an energy crisis due to the embargo of the payment system, the payment of BTC if used as a legal tender for oil and gas will be history for all time.
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We know the many economic sanctions imposed against Russia as it is invading Ukraine and for sure the economy of Russia is now rocked to the bottom with people experiencing the many pinches (though ordinary people do not have the means to air their grievances as the government is in total control of everything). As was then expected, there is that big possibility that Russia can be adopting Bitcoin as the medium of payment for its vast reserve of oil for the international market and then we heard of the news (https://www.cnbc.com/2022/03/24/russia-might-take-bitcoin-as-payment-for-oil-and-gas-as-sanctions-rise.html) that this is what the country has been planning.
Now, of course, we know that Bitcoin is agnostic and apolitical meaning it does not care who is buying, selling, owning, holding, trading and using it and for sure this is open to anyone whether you can be a Russian or a Ukrainian, for that matter. Now, am just concerned if there will not be possible repercussions because of this move from Russia for Bitcoin and will it not be a bad image for Bitcoin especially in the eyes of people who are not approving of this war...
I think It's possible to happen because NATO has sanctioned Russia cause of the war between Russia and Ukraine.
But I think It will be the problem for Russia too, Bitcoin is high volatile.
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So, the sixth package of EU sanctions came into force. A partial embargo on Russian oil has been introduced, it will not yet apply to some countries of its imports through pipelines. However, by the end of this year, Europe's oil consumption should fall by 90 percent. Also disconnected from SWIFT is the largest bank in Russia, Sberbank, and some other Russian banks.
In addition, Europe is already preparing the seventh package of sanctions, which will concern the embargo on Russian gas. In this regard, Russia expects big shocks in the economy. Bitcoin will no longer save her, since the movement of large volumes of oil and gas is easily tracked, which means that the issue is no longer payment, but transportation.
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always nice to heard about this information, If bitcoin will accept for oil and gas payment.
Although, I think It will make Russian has new problem, because bitcoin is unstable.
But It's good for bitcoin and crypto market.
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when bitcoin becomes an important tool to help facilitate transactions for the purchase of oil and gas it is certain that it will provide many changes and of course for bitcoin price movements will increase because more and more people will want to buy bitcoin and it will be increasingly difficult to get bitcoin.
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If Bitcoin is used to pay for gas and oil, then the Bitcoin price will increase due to the increasing number of requests, for the issue of war, I think the payment option is done because Russia is getting a lot of sanctions from the west, but strangely, as I see it, when America attacked Iraq, Libya and Syria, then Israel attacked Palestine, all countries did not give those two countries sanctions, the conclusion is, I agree Bitcoin is used for payments, because that is the main purpose of Bitcoin.
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I don’t understand at all why it is believed that the Russian government can accept bitcoin as payment for the supply of its oil and gas. When these rumors appeared, the Central Bank of Russia immediately declared that these rumors were groundless. After the partial and ever-increasing embargo of the EU countries against Russian oil, as well as the impending embargo as the seventh package of sanctions against Russian gas, Russia is faced with the task of selling its oil and gas even at a cheap price and for any currency.
However, since Sberbank of Russia was recently disconnected from the SWIFT payment system, and the payment system for any goods and services was significantly disrupted, it is possible that they will still pay attention to bitcoin or another cryptocurrency.
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when bitcoin becomes an important tool to help facilitate transactions for the purchase of oil and gas it is certain that it will provide many changes and of course for bitcoin price movements will increase because more and more people will want to buy bitcoin and it will be increasingly difficult to get bitcoin.
What you say would be normal in a context in which the war was not present. If now the Russian government accepted Bitcoin and other cryptocurrencies as payment, things would be very different. After all the sanctions that Russia is receiving from many countries, I think that the least interesting thing for the crypto industry is that Bitcoin is put in the eye of the hurricane, the entire industry could become collateral damage in a short time, and that would be a big problem.
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In my opinion, oil and gas is of great importance to all the countries.
There is an absolute necessity. Because all the exports are done from oil and gas. They are widely consumed in all countries. If even 50% of the country starts the trend of bitcoin in oil and gas, then the market of bitcoin will go up very fast, which will shine in the cryptocurrency. Recently, Russia and the UK do this during the war. Good luck to bitcoin and altcoins
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In my opinion, oil and gas is of great importance to all the countries.
There is an absolute necessity. Because all the exports are done from oil and gas. They are widely consumed in all countries. If even 50% of the country starts the trend of bitcoin in oil and gas, then the market of bitcoin will go up very fast, which will shine in the cryptocurrency. Recently, Russia and the UK do this during the war. Good luck to bitcoin and altcoins
These are just your fantasies. In reality, this is unlikely to ever happen. States do not accept bitcoin or other decentralized cryptocurrencies for their domestic or international payments. One would hope that this will happen in the future, but states will soon be massively issuing their own digitized national currencies (CBDC), which will have the advantages of digital currencies, but will not have their high volatility. In addition, it will be their own currency, only in digital form. Therefore, they will be given preference. In some cases, a special regional CBDC will be created for settlements between states in the same region. In extreme cases, settlements in bitcoin or other cryptocurrencies are possible to circumvent sanctions in the conditions of banks being disconnected from SWIFT, however, in this case, these trade transactions will be carried out without any publicity.
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Russia's military invasion of Ukraine has been going on for the sixth month. Approximately the same time, tough international sanctions against this country were introduced. But so far, we do not hear that Russia is using cryptocurrency in order to circumvent the imposed sanctions. Moreover, after the appearance of such rumors, the Central Bank of Russia immediately denied the possibility of settlements in bitcoins or other cryptocurrencies. But the sanctions will continue for a long time and intensify until Russia stops its aggression and the defeated remnants of its army leave the territory of Ukraine. So it's still possible.
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Bitcoin is a great coin and this coin go high soon but the oil price will not go high like the BTC price. Crypto is a great market and this time so many peoples which are going to be high the price of the BTC they sell their coins because they hold their coin and this is the best time to buy the coin and hold it.
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Bitcoin is a great coin and this coin go high soon but the oil price will not go high like the BTC price. Crypto is a great market and this time so many peoples which are going to be high the price of the BTC they sell their coins because they hold their coin and this is the best time to buy the coin and hold it.
if there is an increase, it is certain that the price of oil will also rise if there is an economic crisis, but maybe you are right that the increase is not as much as what bitcoin can do which is likely to increase many times, if oil is clear the increase is still meSPAM BANble even though it increases sharply.
about the time when to buy bitcoin, it is certain that there will be many perceptions, if indeed now is the right time to buy but in fact whenever we buy bitcoins it can certainly increase from when we buy, because bitcoin will continue to increase every time. so feel free to keep buying and holding it.
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Bitcoin is a great coin and this coin go high soon but the oil price will not go high like the BTC price. Crypto is a great market and this time so many peoples which are going to be high the price of the BTC they sell their coins because they hold their coin and this is the best time to buy the coin and hold it.
People who talk about bitcoin dead no nothing about bitcoin. For decades I have come across people who always say bitcoin is dead but they are distraction to people who don't have knowledge about bitcoin. Bitcoin still remain the best currency .
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In my opinion, oil and gas is of great importance to all the countries.
There is an absolute necessity. Because all the exports are done from oil and gas. They are widely consumed in all countries. If even 50% of the country starts the trend of bitcoin in oil and gas, then the market of bitcoin will go up very fast, which will shine in the cryptocurrency. Recently, Russia and the UK do this during the war. Good luck to bitcoin and altcoins
So far, we do not see any real information at all that not only Russia, but also any other states intend to make payments for oil and gas in bitcoins. It turned out to be only rumors that were not confirmed by anything. The point of such rumors was that with the help of payment in bitcoins, it was possible to circumvent the sanctions imposed on Russia. However, bitcoin or another cryptocurrency in this case does not save Russia. Basically, the routes of tankers with Russian oil are monitored, but they are not so small and inconspicuous. Information about their movement immediately spreads to the whole world.
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We know the many economic sanctions imposed against Russia as it is invading Ukraine and for sure the economy of Russia is now rocked to the bottom with people experiencing the many pinches (though ordinary people do not have the means to air their grievances as the government is in total control of everything). As was then expected, there is that big possibility that Russia can be adopting Bitcoin as the medium of payment for its vast reserve of oil for the international market and then we heard of the news (https://www.cnbc.com/2022/03/24/russia-might-take-bitcoin-as-payment-for-oil-and-gas-as-sanctions-rise.html) that this is what the country has been planning.
Now, of course, we know that Bitcoin is agnostic and apolitical meaning it does not care who is buying, selling, owning, holding, trading and using it and for sure this is open to anyone whether you can be a Russian or a Ukrainian, for that matter. Now, am just concerned if there will not be possible repercussions because of this move from Russia for Bitcoin and will it not be a bad image for Bitcoin especially in the eyes of people who are not approving of this war...
I think It's just rumours if the Russian will accept bitcoin as their payment for oil and gas because western sanctions.
Bitcoin is volatile and Russia will have big problem to accept it.
Until now, I didn't hear about it.
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We had hoped that BTC would enter and become the means of payment of the oil market, but reality did not go so well. The capitalization of BTC is too small to serve payment needs, and the BTC price volatility is too large for companies to accept it easily. This should be followed up and applied in the future.
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We had hoped that BTC would enter and become the means of payment of the oil market, but reality did not go so well. The capitalization of BTC is too small to serve payment needs, and the BTC price volatility is too large for companies to accept it easily. This should be followed up and applied in the future.
Of these three coins, Ethereum has an absolute advantage, including for price growth. This coin is now successfully passing the last tests and will be ready to complete its biennial network upgrade. This will significantly refresh and boost the slightly shaky rating of this coin due to the high gas fee. The price of ethereum has already decently grown against this background, far ahead of bitcoin and other cryptocurrencies in percentage terms. However, this is only the beginning.
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If they succeed with updating the platform to increase the volume of transactions in the network, if everything works out, the price of gas in the Ether network will be in the same limit all the time.
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Do you think this gonna be happen? Because the value of Bitcoin keep increase and keep down. But they can do a thing to avoid it. Suppose if they want to accept they bitcoin payment, they should fix a minimum rate of bitcoin satoshi to get the per litter oil in exchange of bitcoin. If they set the satoshi then there will have no issue between the dollar impact. But if they do not do this, they may be unable to do exchange bitcoin for gas or oil.
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Bitcoin is a great coin and soon the Ukraine fight is finished and after that i hope in so many countries will start to use the Bitcoin and that will be legal. This time so many peoples will trade in the crypto market and they make good money and so many peoples will left their job just they want to earn in the crypto market.
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The good characteristic about Bitcoin and cryptocurrency is that it does not discriminate against anybody or group for any reason whatsoever. So even with the many counts of economic sanctions, Russia can decide to adopt cryptocurrency and Bitcoin for international trades.
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It is unlikely that Russia will use bitcoin or another cryptocurrency for international payments in order to circumvent the imposed sanctions. Russia's attack on Ukraine has been going on for half a year, but we see no signs that Russia is trying to use cryptocurrency to circumvent sanctions. Russia trades with China for yuan. By the way, Russia keeps a significant part of its reserve in yuan. Recently there was also information that Russia sold some of its diamonds to India in circumvention of sanctions. India paid her back with her rupees. India and China are just not very friendly with cryptocurrency, so they will not use it. Even if Russia uses cryptocurrency somewhere, it will be a closed deal for the public.
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It is unlikely that Russia will use bitcoin or another cryptocurrency for international payments in order to circumvent the imposed sanctions. Russia's attack on Ukraine has been going on for half a year, but we see no signs that Russia is trying to use cryptocurrency to circumvent sanctions. Russia trades with China for yuan. By the way, Russia keeps a significant part of its reserve in yuan. Recently there was also information that Russia sold some of its diamonds to India in circumvention of sanctions. India paid her back with her rupees. India and China are just not very friendly with cryptocurrency, so they will not use it. Even if Russia uses cryptocurrency somewhere, it will be a closed deal for the public.
very bad for the cryptocurrency market will be the situation when Russia, bypassing the sanctions, will use cryptocurrency.
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It is unlikely that Russia will use bitcoin or another cryptocurrency for international payments in order to circumvent the imposed sanctions. Russia's attack on Ukraine has been going on for half a year, but we see no signs that Russia is trying to use cryptocurrency to circumvent sanctions. Russia trades with China for yuan. By the way, Russia keeps a significant part of its reserve in yuan. Recently there was also information that Russia sold some of its diamonds to India in circumvention of sanctions. India paid her back with her rupees. India and China are just not very friendly with cryptocurrency, so they will not use it. Even if Russia uses cryptocurrency somewhere, it will be a closed deal for the public.
with the enactment of the law that prohibits the use of transactions with crypto, it is certain that what you say will not be proven again, and it seems they will do according to the agreement with China as their new partner during the embargo. The trade war with the EU countries brought them closer to China for all trade matters and nothing happened to confuse Russia with the embargo.
very bad for the cryptocurrency market will be the situation when Russia, bypassing the sanctions, will use cryptocurrency.
After President Putin enacted the law that has come into force, all forms of transactions with crypto clearly cannot apply in Russia, but if behind the scenes they are going to do that, it seems that it will be difficult to detect whether they will do it. It's hard for us to say that because we know that the crypto community in Russia is big enough that they will do something to make it work.
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We all know that BTC capitalization is too small compared to the total value of oil and gas transactions in the world. If BTC surpasses 500K USD and has a gold capitalization, we can expect the adoption of BTC payments for very large bills globally. For now I will use BTC as a cumulative asset.
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We all know that BTC capitalization is too small compared to the total value of oil and gas transactions in the world. If BTC surpasses 500K USD and has a gold capitalization, we can expect the adoption of BTC payments for very large bills globally. For now I will use BTC as a cumulative asset.
Me too, I use bitcoin for my digital asset.
I think bitcoin is still volatile, It's the reason why bitcoin isn't suitable for gas and oil payment.
But maybe at the coming years, It will be.
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We all know that BTC capitalization is too small compared to the total value of oil and gas transactions in the world. If BTC surpasses 500K USD and has a gold capitalization, we can expect the adoption of BTC payments for very large bills globally. For now I will use BTC as a cumulative asset.
Me too, I use bitcoin for my digital asset.
I think bitcoin is still volatile, It's the reason why bitcoin isn't suitable for gas and oil payment.
But maybe at the coming years, It will be.
The market capitalization of bitcoin is already high and it is very possible to make transactions for oil and gas payments, especially if it is used it can trigger even higher price increases.
but the problem is not only market capitalization, because there are still many who have not been able to accept bitcoin to be accepted as a legal and recognized means of payment. because without any acknowledgment from buyers and payers, obviously it will not be able to be used, so it will still take more time for bitcoin to be accepted by many countries first.
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In the current position Bitcoin is in, it doesn't look like its price will rise this year. Currently the market is not doing very well due to which all the coins including Bitcoin are very low in the market. Many things can be purchased with Bitcoin, including a variety of factories. That's why Bitcoin's value is immense.
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As I said before, I think Russia will accept bitcoin as their payment method, especially for oil and gas.
There are many sanctions for Russian government, becaue of the war.
But We know Russia is the big countries, That will have good decision for their export, especially gas and oil export.
Believe bitcoin will be adopted soon.
It has been almost seven months since Russia's military invasion of Ukraine and the imposition of unprecedented sanctions against Russia. Russia's evasion of international sanctions with the help of bitcoins has so far remained at the level of assumptions and conversations. From Russia, we do not yet see any signs that would indicate its intentions to use bitcoin in international trade. Moreover, during this time Russia adopted a law on digital assets, which makes it impossible to use cryptocurrency as a means of payment. Although the Russian authorities completely ignore any national and international norms and the absence of a special law will not be able to stop it, if there is a desire to still use cryptocurrencies for this.
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Russia seems to have announced that it will use cryptocurrency in terms of payments for certain resources, someone wrote about it. Now we need to think about whether they will ban the use of bitcoin while martial law is in effect.
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Russia seems to have announced that it will use cryptocurrency in terms of payments for certain resources, someone wrote about it. Now we need to think about whether they will ban the use of bitcoin while martial law is in effect.
you are right, whereas previously there was a ban in July that Russia does not accept crypto as legal tender by making regulations. but due to the protracted war situation and the embargo from European countries, a change in attitude finally had to be made by accepting crypto for payment for energy resources, although of course by complying with KYC rules.
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Russia seems to have announced that it will use cryptocurrency in terms of payments for certain resources, someone wrote about it. Now we need to think about whether they will ban the use of bitcoin while martial law is in effect.
you are right, whereas previously there was a ban in July that Russia does not accept crypto as legal tender by making regulations. but due to the protracted war situation and the embargo from European countries, a change in attitude finally had to be made by accepting crypto for payment for energy resources, although of course by complying with KYC rules.
On November 17, a bill was submitted to the State Duma of Russia regarding the regulation of cryptocurrency mining, which actually prohibits the circulation of cryptocurrency in this country. This is absolutely logical, since international sanctions are slowly doing their job, the Russian economy is falling into the abyss, wealthy people are leaving it with their capital. Therefore, in Russia they are trying to block the channels of capital flight abroad. Cryptocurrency is a good way to avoid the ban on the export of capital. Therefore, it expects an almost complete ban in Russia for citizens. At the same time, the government can use cryptocurrency to circumvent sanctions. But she will do this in complete secrecy.
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Russia seems to have announced that it will use cryptocurrency in terms of payments for certain resources, someone wrote about it. Now we need to think about whether they will ban the use of bitcoin while martial law is in effect.
you are right, whereas previously there was a ban in July that Russia does not accept crypto as legal tender by making regulations. but due to the protracted war situation and the embargo from European countries, a change in attitude finally had to be made by accepting crypto for payment for energy resources, although of course by complying with KYC rules.
Although Russia's war in Ukraine is now in its tenth month, so far I have not seen any information that Russia is using cryptocurrency to circumvent international sanctions when selling its oil and gas, or in any other trade. Now Russia supplies about 40 percent of its energy to China and there is no need to use cryptocurrency in this. Russia holds part of its financial assets in yuan, and given the negative attitude of the Chinese government towards cryptocurrency, settlements in yuan are still the most likely. The situation is the same with other countries.
Moreover, in this situation, the problem is not in payment, but in the hidden supply of oil and gas.
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Although Russia's war in Ukraine is now in its tenth month, so far I have not seen any information that Russia is using cryptocurrency to circumvent international sanctions when selling its oil and gas, or in any other trade. Now Russia supplies about 40 percent of its energy to China and there is no need to use cryptocurrency in this. Russia holds part of its financial assets in yuan, and given the negative attitude of the Chinese government towards cryptocurrency, settlements in yuan are still the most likely. The situation is the same with other countries.
Moreover, in this situation, the problem is not in payment, but in the hidden supply of oil and gas.
It seems that the cooperation between Russia and China is increasingly closely intertwined after Russia's intervention resulted in a European embargo on Russia, so that trade between the two parties intensified.
You are right that it doesn't appear that both countries use Crypto for payment, because in fact both countries have also banned the use of Crypto in their respective countries.
they didn't mind paying in their own currency and they were able to do it all along and no problem.
Russia is unlikely to use crypto for trading transactions, with India alone they can accept the Ruble currency, and are likely to continue to use it with other countries.
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I am new to the form, but I have benefited a lot from reading your post.
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It seems that the cooperation between Russia and China is increasingly closely intertwined after Russia's intervention resulted in a European embargo on Russia, so that trade between the two parties intensified.[/size]
You are right that it doesn't appear that both countries use Crypto for payment, because in fact both countries have also banned the use of Crypto in their respective countries.
they didn't mind paying in their own currency and they were able to do it all along and no problem.
Russia is unlikely to use crypto for trading transactions, with India alone they can accept the Ruble currency, and are likely to continue to use it with other countries.
Yes, cooperation between Russia and China has been constantly changing lately, sometimes getting stronger, sometimes cooling down. China is simply using Russia's plight domestically and internationally to further its own interests. Therefore, there are points of contact here, although Russia itself should understand why this is happening. In addition, Russia held part of its reserves in yuan, and therefore such cooperation is beneficial for Russia itself. Therefore, the ruble or yuan will most likely be used in relations between them. I would prefer the yuan, since the ruble is facing an unenviable fate due to ongoing sanctions. Even in Russia itself, there is now a great interest in the yuan from the citizens.
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I am not sure bitcoin could be used on the oil and gas sector at the present state of it's development and adoptions, but I think it may be possible.
Russia planned to sell her Oil with Bitcoin may just be a common proposal but I have not seen any proof from any buyer of her oil yet. Hoping this idea from Russia could be implemented, at least, it may increase Bitcoin adoptions.
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I'm not sure about that. But if Russia start to using bitcoin instead of their currency. I think bitcoin will trade worldwide and it'll make history.
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It is difficult to talk about this when the ban on cryptocurrencies was proposed in Russia, what changed that they decided to accept payment in bitcoins. If this happens, the price of cryptocurrency will increase dramatically.
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Bitcoin can be used by anyone and without restrictions for those who receive it, before the war in Ukraine, America had attacked Afghanistan and no country was against America at that time.
I read a lot of history about wars and if Bitcoin is used for payment then that is a good idea because we don't know Bitcoin is used to buy medicine or groceries for war victims.
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Bitcoin can be used by anyone and without restrictions for those who receive it, before the war in Ukraine, America had attacked Afghanistan and no country was against America at that time.
I read a lot of history about wars and if Bitcoin is used for payment then that is a good idea because we don't know Bitcoin is used to buy medicine or groceries for war victims.
Yeah, I think bitcoin could be used for payment transaction during war.
It's decentralised system.
I also agree bitcoin for oil and gas.
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always good to hear bitcoin for payment method, especially for oil and gas.
But I think the government should have the rules to arrange this.
Because bitcoin and altcoins are unstable.
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always good to hear bitcoin for payment method, especially for oil and gas.
But I think the government should have the rules to arrange this.
Because bitcoin and altcoins are unstable.
I don't think Bitcoin will always be a payment for oil and gas because as you have mentioned, its unstable price movements make the recipient have a very high risk, but it all depends on the company's policies and considerations, if they still feel a profit then the payment uses Bitcoin will continue, but if it makes a loss it will stop and return to using fiat currency.
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always good to hear bitcoin for payment method, especially for oil and gas.
But I think the government should have the rules to arrange this.
Because bitcoin and altcoins are unstable.
I don't think Bitcoin will always be a payment for oil and gas because as you have mentioned, its unstable price movements make the recipient have a very high risk, but it all depends on the company's policies and considerations, if they still feel a profit then the payment uses Bitcoin will continue, but if it makes a loss it will stop and return to using fiat currency.
Many people have the same opinion that while Bitcoin is still highly volatile, Bitcoin is not suitable as an example of a payment method. Maybe in the future when bitcoin is more stable this could happen. Payments for oil and gas need a more stable nominal value, because sellers and buyers do not lose money.
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Huge possibility of this happening as we all know Russia is not new to Bitcoin. They knew that Bitcoin is not affected by inflation, sanction and other factors that they maybe experiencing or experience in the coming days, months or even years. For me I think Bitcoin will be one of their possible choice if not today but in the future unless they are comfortable to still use their government issued Ruble which is of course continue to lose it's value.