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Bitcoin Government

Russia Bans Bitcoin 207

Posted by samzenpus
from the no-coins-for-you dept.
mask.of.sanity writes "Russia has banned digital currency Bitcoin under existing laws and dubbed use of the crypto-currency as 'suspicious'. The Central Bank of Russia considers Bitcoin as a form of 'money substitute' or 'money surrogate' (statement in Russian) which is restricted under Russian law. However, unlike use of restricted foreign currencies, Bitcoin has been outright banned. The US Library of Congress has issued a report examining the regulatory approaches national financial authorities have taken to the currency."
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Russia Bans Bitcoin

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  • Here we are now (Score:3, Insightful)

    by jones_supa (887896) on Friday February 07, 2014 @09:13AM (#46184977)
    The introduction of Beta is like a nuclear power plant disaster where the site is currently a ghost town with no real discussion anymore but lamenting souls crying out the pain.
  • Putin and Beta (Score:4, Insightful)

    by Akratist (1080775) on Friday February 07, 2014 @09:24AM (#46185043)
    Well, guess I'd better use my mods points before they're worthless, huh? Anyway, Russia banning Bitcoin should remind all the Obama-haters and Putin-lovers that Russia still somewhat on the authoritarian side. I've never gotten the mindset that just because Putin likes to stick his finger in the American Empire's eye, that he's a strong supporter for human rights, liberty, etc. I will say that America probably has surpassed Russia in lack of real liberty in recent years (yeah, they'll throw you in jail for exercising free speech, but we're drowning in laws that we often don't know we're breaking until we get arrested and our lives ruined; they have an incarceration rate that is half of ours, etc), but that just means we're worse, not that they're better.
  • by Anonymous Coward on Friday February 07, 2014 @09:26AM (#46185069)

    Well, it's not over until the fat lady sings. I wouldn't set a death date yet. But I have to say the site is quite messed up right now with all the comments talking only about the suckiness of Beta.

    I do see two problematic things:

    1) They already asked feedback Oct 1, 2013 [slashdot.org] and didn't listen us. Why would they this time? "Fool me once, shame on you. Fool me twice, shame on me."
    2) As you said, the Beta site is currently so far from something usable that they will have a lot of work ahead if they actually want to make it function properly.

  • That is an insult (Score:4, Insightful)

    by Errol backfiring (1280012) on Friday February 07, 2014 @09:30AM (#46185097) Journal

    The Central Bank of Russia considers Bitcoin as a form of 'money substitute'

    That is an insult. Regular money can be made "at will" by banks and the fact that it is only handed to society for usury ("interest") and some real-value things (like houses) as security, makes it drain any society at no cost to the banks themselves. The funny thing is that all banks can create money, but private persons are criminals when they do exactly the same.

    Bitcoins do not come with built-in usury and cannot be made infinitely. Bitcoins do not have built-in discrimination about who can abuse who. Bitcoins are more than a money substitute: Bitcoins make sense. Our current money system does not.

  • by arth1 (260657) on Friday February 07, 2014 @09:35AM (#46185133) Homepage Journal

    Honestly its been two days can we stop bitching about the fucking beta?

    • Is it still there?
    • Is it still by design different enough that it cannot be made to do all the things classic can do?
    • Is the plan still to replace slashdot with it?

    If the answers to these questions are "yes", there is a need to continue our picketing.

    This better continue until the site is improved by scrapping Beta as the failed project it has proven itself to be, and until Shravan Goli [generalatlantic.com] has been replaced with someone who understands this particular business and why people (and thus advertisers) come here.

    I care about Slashdot. A great deal. So much so that I don't want to see it run into the ground. Which is exactly what will happen with the Beta - it is broken by design, and cannot be "incrementally improved" until it works as well as the flawed system I use now.
    As long as the managers are unwilling to see this, shout it. Shout it louder. Don't let Slashdot die due to someone's pride and a vision of "unified" experience from someone who doesn't even understand that this is a contributor site, not an audience site, and the fundamental difference between the two.

    You have the power to change the site.
    You do not have the power to change the contributors.
    When the two clash, keep in mind what people come here for, which attracts advertisers. Hint: It's not to look at the design or headlines.

  • by TheloniousToady (3343045) on Friday February 07, 2014 @09:37AM (#46185153)

    Honestly its been two days can we stop bitching about the [expletive] beta?

    Bitching about the beta actually still serves a useful purpose. It demonstrates that the primary use of the moderation system here is to push personal agendas rather than to objectively rate comments. Objectively speaking, your comment either should be left alone, because your point is obvious, or it should be promoted to +1, because it's valid. However, in terms of the prevailing agenda, your comment actually deserves its demotion from 0 to -1.

    Moderators, thanks demonstrating the enforcement of Slashorthodoxy. I'm not sure whether or not my own comment is orthodox, but if you disagree with me that moderators here push their own agenda, feel free to demote it.

  • by wagnerrp (1305589) on Friday February 07, 2014 @09:53AM (#46185257)

    Speaking of libertarians. Where are all the property-is-everything, guns-and-freedom, company-defending people now? My opinion on the beta is, yes, it sucks. But do you guys really think you own this site?

    No. They are owned by the site. They are the product, sold to ad agencies, and the site is the manufacturing facility. The Beta is a new manufacturing process line being constructed, and the complaints are product being rejected by quality control. If the issues are not resolved by the time the new line goes live, manufacturing volume will suffer, customers will not have anything to purchase, and profits will suffer.

  • Re:Putin and Beta (Score:5, Insightful)

    by JWW (79176) on Friday February 07, 2014 @09:54AM (#46185267)

    Somewhat authoritarian?

    Isn't that a lot like a little bit pregnant?

  • by Dcnjoe60 (682885) on Friday February 07, 2014 @09:55AM (#46185283)

    The Central Bank of Russia considers Bitcoin as a form of 'money substitute'

    That is an insult. Regular money can be made "at will" by banks and the fact that it is only handed to society for usury ("interest") and some real-value things (like houses) as security, makes it drain any society at no cost to the banks themselves. The funny thing is that all banks can create money, but private persons are criminals when they do exactly the same.

    Bitcoins do not come with built-in usury and cannot be made infinitely. Bitcoins do not have built-in discrimination about who can abuse who. Bitcoins are more than a money substitute: Bitcoins make sense. Our current money system does not.

    Money is whatever people use to pay for the exchange of goods and services. In prison, cigarettes are money. When the Europeans first set foot in North America, they gave the natives various trinkets in exchange for goods. The Dutch purchased the island of Manhattan for about $24US worth of beads. Money is whatever people say is money.

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