Archived "Vladimir Putin Endorses Russia's New Cryptocurrency" - the CryptoRuble (sputniknews.com)
submitted ago by k_digi
Posted by: k_digi
Posting time: 3.1 years ago on
Last edit time: never edited.
Archived on: 1/15/2018 10:00:00 AM
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Archived "Vladimir Putin Endorses Russia's New Cryptocurrency" - the CryptoRuble (sputniknews.com)
submitted ago by k_digi
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[–] yergi ago (edited ago)
.....The article stated it's not blockchain based.
.....If Bitcoin we're not decentralized, we wouldn't have bicoin cash, and other hard forks that create derivatives. So, Bitcoin certainly is decentralized. There is no server to take down, and the community controls the source code. Bitcoin is the definition of decentralized. On the other hand, having a government control every aspect from coding to issuance and conversion back into cash is the definition of centralized. Bitcoin and "crypto rubles" couldn't be any farther apart on this spectrum.
....The article stated that it is backed by rubles, and people would have to explain where they received their online rubles from, or be taxed at 13%....
This is by no stretch of the imagination a crypto currency. This is more akin to having a bank account tied to a wallet address.
[–] k_digi [S] ago
https://i.imgur.com/rO3iqVw.png
you have confused 'decentralized' with 'decentralized issuance' hence why i said 'it depends on what you call decentralized?'
nope it is my opinion that you have misunderstood how 'money' works, but yes it will be interesting to see how that policy is 'enforced'
again see my comments as regards issuance if you are still confused just re-read them, if you don't understand the words or i have made English errors just ask for clarification.