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Author Topic: Russia says it will accept Bitcoin for its oil and gas exports  (Read 12483 times)

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I really don't know how to interpret this news yet as it is very recent and there is not as much information as I would like, but I think now the Chinese government can take a step to show the world what it really thinks about Bitcoin. We know that Bitcoin is still being bought and sold in China, but in different markets than they were used to. I would like to know if there are more "friendly" countries besides Turkey and China on Russia's list...

Here is the article of this news: https://markets.businessinsider.com/news/currencies/russia-bitcoin-oil-gas-friendly-countries-china-turkey-energy-minister-2022-3
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Re: Russia says it will accept Bitcoin for its oil and gas exports
« Reply #1 on: March 25, 2022, 01:58:13 PM »
It's a good news If Russia says it will accept Bitcoin for its oil and gas exports.
We don't know about Chinese government at the coming years, they will accept bitcoin or not, In my prediction They will be.
Bitcoin is the future currency, I think the big countries like Chinese and Russia will own consideration to allow crypto.
Let's see.

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Re: Russia says it will accept Bitcoin for its oil and gas exports
« Reply #2 on: March 28, 2022, 12:39:42 PM »
It's a good news If Russia says it will accept Bitcoin for its oil and gas exports.
We don't know about Chinese government at the coming years, they will accept bitcoin or not, In my prediction They will be.
Bitcoin is the future currency, I think the big countries like Chinese and Russia will own consideration to allow crypto.
Let's see.

I think on the one hand it is positive as Bitcoin will be used and more people will know about it, but I think it also has a negative side because many countries could start to see Bitcoin as something “used for evil”. Fortunately, every day more people know about cryptocurrencies and how they work, but at some point this step taken by the Russian government may be counterproductive for the crypto ecosystem. At the moment I think it is better to wait until more information is available.
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Re: Russia says it will accept Bitcoin for its oil and gas exports
« Reply #3 on: March 28, 2022, 04:19:16 PM »
Which country will pay them in Bitcoin though? The EU doesn't even want to pay them in roubles.
As for Bitcoin's reputation, I agree. Bitcoin will suffer if it gets the reputation of being used to fund a war.

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Re: Russia says it will accept Bitcoin for its oil and gas exports
« Reply #4 on: March 28, 2022, 07:43:59 PM »
Which country will pay them in Bitcoin though? The EU doesn't even want to pay them in roubles.
As for Bitcoin's reputation, I agree. Bitcoin will suffer if it gets the reputation of being used to fund a war.

I don't think any country is willing to use Bitcoin to pay for Russian oil or gas. That would force many countries to buy Bitcoin and Russia would earn much more money than it already earns every day thanks to exports, and that does not suit any country, least of all the countries of the European Union. I think that this measure would be very "forced" by the Russian government since they are seeing that they are economically very isolated and that they can end up with a very big economic crisis, I think it is a desperate measure.
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Re: Russia says it will accept Bitcoin for its oil and gas exports
« Reply #5 on: March 29, 2022, 11:17:27 AM »
This is actually development but the thing is that the acceptance of Bitcoin is limited to countries that are friendly to Russia like China or maybe even Belarus. Now, if this move will mean that China will change its mind on Bitcoin then it is just another wishful thinking all because China has already established relationship with Russia and both countries ca do business without bothering anyone or using anything new. In other words, this is another good press release for Bitcoin but at the end of the day will not be a major step forward in terms of adoption, actually.

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Re: Russia says it will accept Bitcoin for its oil and gas exports
« Reply #6 on: March 29, 2022, 02:11:47 PM »
If this is so, then it will be very good for both Bitcoin and the cryptocurrency market, because various countries will invest huge money in Bitcoin to buy oil and gas and thus Bitcoin price will grow on an ongoing basis, but what will Russia do with these Bitcoins it will be interesting to see.
« Last Edit: March 29, 2022, 02:14:05 PM by trauchot »
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Re: Russia says it will accept Bitcoin for its oil and gas exports
« Reply #6 on: March 29, 2022, 02:11:47 PM »


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Re: Russia says it will accept Bitcoin for its oil and gas exports
« Reply #7 on: March 29, 2022, 02:40:10 PM »
To clarify things up, this is just a “proposal” as what I have read in the article. So it’s not yet final. Other similar articles that I’ve read on Google are with these words like “might”, “consider” and “considering”. But we don’t know yet on which country would be willing to pay Russia in BTC for exporting oil and natural gas.
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Re: Russia says it will accept Bitcoin for its oil and gas exports
« Reply #8 on: March 31, 2022, 10:39:55 AM »
To clarify things up, this is just a “proposal” as what I have read in the article. So it’s not yet final. Other similar articles that I’ve read on Google are with these words like “might”, “consider” and “considering”. But we don’t know yet on which country would be willing to pay Russia in BTC for exporting oil and natural gas.

Right, it's a proposal. But considering what the Russian economy is going through, I wouldn't be surprised if they approved this proposal. It is also possible that the Russian government will approve the proposal to legalize crypto mining, they know that their economy is suffering, but they also know that if things stay the same and they continue to receive sanctions, things could be much worse for the country, and that would create an internal crisis that could be devastating.
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Re: Russia says it will accept Bitcoin for its oil and gas exports
« Reply #9 on: March 31, 2022, 12:22:09 PM »
To clarify things up, this is just a “proposal” as what I have read in the article. So it’s not yet final. Other similar articles that I’ve read on Google are with these words like “might”, “consider” and “considering”. But we don’t know yet on which country would be willing to pay Russia in BTC for exporting oil and natural gas.

That's true, It's just proposal, I think Russian government will consider about it.
Or maybe will refuse this proposal.
It's nice to see biztcoin will usable for payment method.
Although we know bitcoin price is volatile, yeah high volatile.
It's the basic factor for Russian to accept or refuse bitcoin as oil and gas payment.
If Russia accept, we will see bitcoin price touch 250K USD soon.

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Re: Russia says it will accept Bitcoin for its oil and gas exports
« Reply #10 on: April 01, 2022, 06:07:37 PM »
That's true, It's just proposal, I think Russian government will consider about it.
Or maybe will refuse this proposal.
It's nice to see biztcoin will usable for payment method.
Although we know bitcoin price is volatile, yeah high volatile.
It's the basic factor for Russian to accept or refuse bitcoin as oil and gas payment.
If Russia accept, we will see bitcoin price touch 250K USD soon.

The sanctions imposed by many countries on Russia have caused the Ruble to lose much of its value. The Russian government needs money to avoid falling into a great economic depression that could last for many years, since it would be a disaster for the population. For its oil and gas sales, the Russian government recently said it would accept rubles, so other countries would increase the value of the ruble. If the countries refuse to pay in rubles, they are likely to accept these proposals.
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Offline IyemRoker

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Re: Russia says it will accept Bitcoin for its oil and gas exports
« Reply #11 on: April 07, 2022, 02:10:08 PM »
Russia is the parent for the cryptocurrency market because almost the large community is from Russia and Ethereum cryptocurrencies were also created by people from Russia.
Oil and Gas is definitely needed by everyone, including in industry and households, in every country this is definitely in need and as a result Russia has the best access to being able to market Bitcoin through Oil and Gas trading.
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Offline rizqillah

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Re: Russia says it will accept Bitcoin for its oil and gas exports
« Reply #12 on: April 07, 2022, 05:16:11 PM »
Russia is the parent for the cryptocurrency market because almost the large community is from Russia and Ethereum cryptocurrencies were also created by people from Russia.
Oil and Gas is definitely needed by everyone, including in industry and households, in every country this is definitely in need and as a result Russia has the best access to being able to market Bitcoin through Oil and Gas trading.

If it happened, Rusia accept bitcoin for gas and oil , I think we as crypto enthusiasm will see the crypto market will have good impact.
Bitcoin will be more expensive and altcoins will follow it.
It the nature of crypto market.
Oil and gas are primary needs from everyone. Let's see.
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Offline Freemind

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Re: Russia says it will accept Bitcoin for its oil and gas exports
« Reply #13 on: April 08, 2022, 12:39:29 PM »
If it happened, Rusia accept bitcoin for gas and oil , I think we as crypto enthusiasm will see the crypto market will have good impact.
Bitcoin will be more expensive and altcoins will follow it.
It the nature of crypto market.
Oil and gas are primary needs from everyone. Let's see.

Personally, I would not like to see Russia accept Bitcoin as payment for oil and gas. If that were to happen, I think unfortunately a lot of people would see Bitcoin and cryptocurrencies as something that the "enemy of the world" can easily use to avoid sanctions, and that is something that does not interest any of us in the world of cryptocurrencies. If Putin does not want to accept Dollars or Euros for his oil and gas, he should seek other alternatives together with Europe and leave from Ukraine immediately.
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Offline Senin

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Re: Russia says it will accept Bitcoin for its oil and gas exports
« Reply #14 on: May 07, 2022, 09:02:16 AM »
Russia can keep saying whatever it wants. Even what she will take for her oil and gas in gold bars. Only because of the war she unleashed in Ukrin, fewer states want to buy them in Russia. Europe has been discussing a complete embargo on Russian oil for quite some time now. The solution of this issue as a whole is moving forward and whatever decision is made, the fact remains: Europe has taken a course towards refusing to buy oil and gas from Russia. This decision was brewing without a war, because of the need to combat abrupt climate change. Therefore, it is clear that difficult times await Russia.

 

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