In what some have called a “watershed” moment for bitcoin, Bloomberg reports that a company co-owned by an aide to Russian President Vladimir Putin is seeking to expand Russia’s bitcoin-mining industry, leveraging Russia's cheap energy to rival China as the world’s largest mining market.
The company, known as Russian Miner Coin, or RMC, is seeking to raise $100 million in an initial coin offering, promising buyers a right to 18% of the company’s mining revenue, according to a presentation cited by Bloomberg.
“Russian Miner Coin is holding a so-called initial coin offering, where investors will use units of Ethereum or bitcoin to buy new RMC tokens. These new tokens will have rights to 18 percent of the revenue earned with the company’s mining equipment, according to a presentation posted on its website.”
According to Brian Kelly, a frequent CNBC contributor, the announcement is a “watershed” development in the history of bitcoin because it suggests that Putin recognizes the value of the pioneering digital currency as a reserve asset. The Russian president has already expressed an interest in blockchain technology – particularly Ethereum. In June, he met with Ethereum founder Vitalik Buterin on the sidelines of the St. Petersburg Economic Forum and offered his support for Buterin’s plans to help local partners adopt the technology in Russia.
Interesting! I buy more BTC.
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@broncnutz,
Actually that would be a very interesting news. yeah Russia smell the heat of BTC and they are preparing for it. Meantime USA SEC is still complaining :/
Thanks for sharing this useful information!
Cheers~
I wonder what Trump thinks of crypto's....
If you hold a gozillion dollars.......you don't want people holding Crypto, or gold.....you want to brainwash them to hold dollars.
Australia considering recognizing Bitcoin as a legitimate currency and Russian meetings with Vitalik - these are crazy times.
I was afraid that most countries at some time would adopt state controlled blockchain based currencies in order to keep their control over the economy but these recent news indicate that some of the current free currencies will become recognized assets in the future.
As soon as countries (even the small ones) adopt Bitcoin or another alt coin the prices will increase dramatically.
Good times ahead
I'm so excited about this. Crypto markets gonna soar.......and most people still have never even heard the word bitcoin.
It's news worth taking note of. It means that at least some governments realize they can't contain crypto-currencies and they might as well try to gain from the momentum.
My initial feeling is that I wish governments would just ignore crypto... but I can see how some smaller countries embracing it may be a good thing.
Thank you for sharing this news. This bodes well for both Bitcoin and cryptos in general. It looks like it's time go break out the old miners and grab as much as I can.
You got that right! The man is definitely a long-term thinker! Under his leadership, his country has been stock piling precious metals for years. Bitcoin (and other cryptos) are the next logical step.
Russia and China are going into crypto BIG-TIME. The U.S. is not. What does that tell ya???
It's looking like bad news to me ... :(
It's a very important news my friend!
Thanks for sharing. Upvoted and resteemed
This is indeed very interesting. If this comes to fruition then it would really look like there is another major player in town aside from chinese miners
The United States are going to miss out the biggest shift in history, I guess they don't want to mess with there so called "printing press" that is currently running lol
I had the same thought when I read this post. Keep on stackin!
Although he seems serious, I hope he won't twist ether into russia-centric crypto. Because in the past, plenty of russian startups fail because of being too russia-centric. But i'm sure cryptos won't be easy to be dominated by one country. I've read it on Blockchain Revolution book that cryptos have this thing that will protect the system from majority attack or something.
Either way, keep making a good post @broncnutz :D Upvoted and resteemed!
Putin definitely knows that BTC is the future.
He told before that cryptos are bubbles. Something changes?
They're planning that their cheap energy will allow Russia to mine 30% of global cryptos!
They need to have normal hardware like in china. But they don't have yet
Cheap energy without machines doesn't helps
They're talking about developing their own hardware, although it'll take a while to catch China at that game.
@broncnutz sir I don't know about Putin and Russia as @msg768..... But many things I learn from this post which I don't know before.... Thank you for share.... @supriya1993
as your title said he is no dummy!
Just remember how he got reelected
@broncnutz, So is this a good sign to buy BTC Now?
I think so. If we get a dip anywhere under 3k usd I think it's a strong buy.
Used to see it at around $1900 maybe a few weeks ago but wanted to wait for it to go down more. Unexpectedly, now it over $3300 :( Bad for me
Putin Knows what's coming! the Crypto Revolution!
Currport leaders never settle for less , Russia had had their elites always take control and become really powerful at one point in history where they began to destroy the nation . Now Putin on hand , he's just taking advantage of what he sees as oppertunity @broncnutz
Putin is doing a pretty smart thing buy investing into cryptocurrency.
If a world leader is willing to spend resources to mine crypto then I think everyone should have the confidence in the markets to invest into them.
This, in the end, will probably help Russia's economy drastically if they have all these servers mining as well as their ties and meetings with Vitalik Buterin @broncnutz
Interesting project, more progress for our dear bitcoin. Hopefully so and more countries join this new era. @broncnutz
Wow! Extraction of bitcoin at the state level is unexpected :)
Putin be like
I must break u.....
oh nnooooo
so all these factors will further appreciate the rise of BTC...but what about other developed nations.....just think about a position, if every developed country jump to this paradigm shift of crypto world then what would be the scenario...i think reward of holding BTC is beyond our expectation. Nice informative article..thank u
Wow.. Interesting .Soon Russia take over
russia one of the most competitor of usa
Believe me not Russia. China - YES
Russian government just started to move from TABOO on crypto to legalization
Interesting. I didn't know that about Putin and Russia...
Sir, We are very grateful to this. You continue to have success.Please vote for us also. And keep voting. @ahlawat
This is indeed very interesting.
i love russia
I'd like to visit Russia.
me too
Interesting project......
This isn't related to this post but after I wrote this post I knew you would appreciate it. Would send privately but not certain how to do that.
https://steemit.com/eclipse/@realestatecoach/total-eclipse-8-21-and-then-12-days-later
Thanks for sharing the news :) its a sign to buy btc now.
Very interessing !!
What about Golos the russian steemit clone?
Should we invest in?
Hehe puttin :D buying more btc
Source: http://www.zerohedge.com/news/2017-08-08/russia-launches-100-million-bitcoin-mining-operation
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Thank You!
So you also vote up your own comments here mr policeman? Weak sauce!