Russian Central Bank to develop cryptocurrency

TreasureHunter

TreasureHunter

Well-Known Member
It's official, the Russian Central Bank wants to develop their own cryptocurrency:

http://tass.com/economy/949263


This is going to be big! Very big!
Digital ruble? Cryptoruble?

Let me guess its creator: Satovski Nakamov :D

I wouldn't be surprised if the BRICs would come up with something similar.

If it's well thought-out, then it could come out better than Bitcoin. But who'd believe it wouldn't be centralized, trackable etc? If a central bank creates a crypto, the wallet will surely spy on you. Plus: who knows if Bitcoin's wallet isn't already?
 
Last edited:
^
This is going to be big!

I think "conventional" money will crash while cryptos will skyrocket. Don't know what will happen to gold and silva', though...
 
So....what exactly does this "national crypto" hope to offer that regular crypto doesn't?

Are they going to try and peg it to the existing fiat? Like Tether?...and then guarantee it's redeem-ability? That might be a useful "bridge" from fiat to crypto tech for the mainstream to adopt.

Still leaves it open to all the central bank manipulation, inflation, expanding money supply, debt etc. so it's not something I will personally get super excited about.....

....or is there something I'm missing. What else can governments offer to crypto tech?
 
Maybe if every country has one, they'll eventually use a global digital currency. Kind of like what Bitcoin and other crypto currencies already do ... minus the government involvement.
 
Wouldn't want to be, unable to "connect" , though.
Who has the internet "kill" switch ?
Probably the reason why we need an alternative GPS satellite system !

as in, the first gulf war, a bias was engineered into the infant gps gnss system !

nothing like physical I guess!
:)
 
John F Kennedy almost introduced a United States note to replace the Federal Reserve note potentially putting the money in the hands of the people rather than in the hands of the banksters ...

"“to issue silver certificates against any silver bullion, silver, or standard silver dollars in the Treasury.” This means that for every ounce of silver in the U.S. Treasury’s vault, the government could introduce new money into circulation based on the silver bullion physically held there. As a result, more than $4 billion in United States Notes were brought into circulation in $2 and $5 denominations. $10 and $20 United States Notes were never circulated but were being printed by the Treasury Department when Kennedy was assassinated. It appears obvious that President Kennedy knew the Federal Reserve Notes being used as the purported legal currency were contrary to the Constitution of the united States of America."

read more at http://www.rapidtrends.com/it-almost-became-money-united-states-notes-versus-federal-reserve-notes/

JFK's vision has been replaced by apathy and ignorance ...
 
good way to rid yourself of the Rothschlld curse. If you control your central bank as Russia almost does
 
BuggedOut said:
So....what exactly does this "national crypto" hope to offer that regular crypto doesn't?

Are they going to try and peg it to the existing fiat? Like Tether?...and then guarantee it's redeem-ability? That might be a useful "bridge" from fiat to crypto tech for the mainstream to adopt.

Still leaves it open to all the central bank manipulation, inflation, expanding money supply, debt etc. so it's not something I will personally get super excited about.....

....or is there something I'm missing. What else can governments offer to crypto tech?
Click to expand...

^
They can do a lot!

Like...

1) encourage the masses to buy the crypto-rouble
2) create an easier to use platform/wallet/qt to use it for payment etc.
3) give away a number of coins to citizens (to reduce poverty, pay for utilities etc)
4) encourage citizens to turn to the crypto-rouble instead of USD, EUR or other currencies - considering the tensions with the West, it wouldn't surprise me if Russia did so
5) widely accept the use of the new cryptocurrency
6) they might not peg it to something physical... some people speculate about currency being pegged to time or to work hours/work...

I think a Russian cryptocurrency could have a lot of way upward than Bitcoin.

And I think lots of countries and other entities will follow. It's just a matter of time.

The big question is: will there be a single cryptocurrency to rule or will there be hundreds, all "splitting" the global economy?
 
I remain skeptical about government involvement in crypto, but I'll try to keep an open mind and see what they come up with :)

Personally, I am a believer in a uni-polar, diversified and decentralised world so I'd prefer to see hundreds of currencies. I am pro-market and pro-choice. You only have to take a close look at the Euro to see how painful and difficult it can be to try and implement a single currency. I don't think a single currency can even be done without a properly implemented one-world government.
 
You must log in or register to reply here.
Back
Top